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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 2018-09-27]
BTC Price: 6676.75, BTC RSI: 52.90
Gold Price: 1182.30, Gold RSI: 37.68
Oil Price: 72.12, Oil RSI: 62.46
[Random Sample of News (last 60 days)]
Bitcoin rises above $6,300 as N.Y. approves dollar-linked digital currencies: NEW YORK (Reuters) - Bitcoin briefly climbed above $6,300 on Monday after New York state's Department of Financial Services approved Gemini Trust Company's and Paxos Trust Company's dollar-linked digital currencies, the first stablecoins to get the nod from the regulator. At 9:24 a.m. (1324 GMT), the world's biggest and best known virtual currency was up 0.58 pct at $6,268.50 on Luxembourg-based Bitstamp exchange. (Reporting by Richard Leong) || Can blockchain help the legalized marijuana industry?: When people think of blockchain, cryptocurrencies remain the top association for the wider public. Its other uses, likemango tracking, or following17,000 kilos of almonds from one country to another, may not be enough to completely convince people it’s a useful technology. But it does show what can be done, and has some very practical applications for the distribution and tracking of product.
Come October 17 when recreational marijuana for adults is legalized nationwide there could be another use case to show the value of blockchain. The marijuana market is new and largely untapped by traditional banks and regulatory bodies. There are still many unknowns, but advocates of blockchain technology are asking governments, investors and the world to pay attention to its potential role in marijuana monitoring.
Back in 2017, the B.C. government put out an open call, asking the public how the province should manage the emerging marijuana market. IBM responded and advised the government to look into the benefits of using blockchain technology.
“IBM suggests Blockchain is an ideal mechanism in which B.C. can transparently capture the history of cannabis through the entire supply chain, ultimately ensuring consumer safety while exerting regulatory control from seed to sale,” read IBM’s four-page proposal,which has since been removedfrom the government’s website.Yahoo Canada Financereached out to a representative from Service BC for comment about this removal and received an email directing attention tothis regulation document, but not the original link.
As the legalization date presses closer though, more discussion on blockchain technology and its potential use has taken place.
“Bitcoin proved it can be done but not how to do it,” mathematician Charles Hoskinson, founder and CEO of blockchain research and development companyIOHK, toldYahoo Canada Financeduring theBlockchain Futurist Conferencein Toronto.
“The really good thing about the marijuana industry is they’re developed world, unbanked people. So if you’re saying ‘how do I help people in Ethiopia or Rwanda who are unbanked’ you’re not going to solve it in the first try, but you could bank the unbanked here in North America, and the marijuana industry is a perfect example of that,” says Hoskinson. “Banks won’t deal with marijuana dispensaries, they live in a mostly cash economy. [For the most part] it’s illegal to have accounts.”
Just last week, Florida agriculture commissioner candidate Nikki Friedhad her Wells Fargo bank account closedbecause she supported marijuana.
“Marijuana is a bit of a social faux paux, it’s becoming less so, but interestingly enough blockchain also has this faux pas,” says SaschaMojtahedi,CEO and founder ofBunz. Bunz recently stepped into the cryptocurrency market with its BTZ token, which is currently accepted at over 250 locations in Canada including cities such as Ottawa, Vancouver, Hamilton and Montreal, and is accepted at 100 locations specifically in Toronto.
Prior to his role at Bunz,Mojtahedidid system design for banks including designing the AML/ATF system for TD Bank as well as redesigning TD’s stock research platform and future state RESL platform. He sees great potential for the marijuana market and blockchain technology to piggyback one another. One way to achieve this is through a zero knowledge proof identity token.
“What this [identity token] means is that after I’ve got, say, my driver’s license or some form of identity uploaded onto a blockchain, it’s unique, not fungible, and if I wanted to go to a dispensary it wouldn’t need to know my name or anything outside of one criteria which is receiving a ‘yes’ or ‘no’ back indicating whether or not I’m allowed to buy legal marijuana,” explainsMojtahedi.
“What if I didn’t need a photo ID and instead directed to an address or token when entering a dispensary? I keep my information private and the door unlocks,” he adds. “You don’t get my face or my thumbprint, but a ‘yes’ comes through. This is a potential use in the marijuana market.”
Mojtahedi,however, is transparent about not knowing what the marijuana protocols are and that the market is unmapped, at least publicly. But if protecting one’s identity is a concern, he says, then a zero knowledge proof identity token could be an option to implement.
As a proponent of crypto tokens,Mojtahedi adds that tokens can act as an alternative to cash in marijuana transactions. If someone were to buytokens and then use those tokens to buy marijuana, it could be an alternate way of payment and potentially alleviate fear that a “dispensary gets robbed because they keep $50,000 in cash” instead regarding the “blockchain structure and the token themselves as bank,” says Mojtahedi.
Growing industries getting together
The marijuana space is seeing more partnerships being formed too — from Constellation Brand’s$5 billion investmentin Canopy Growth, to theannouncementthat 26 licensed producers have signed agreements with the Ontario government. The business world is also beginning to see partnerships between fintech and cannabis companies.Polymath, touted as the “industry’s first security token launchpad” and7Pass,a cannabis investment company, recently announced thefirst private security token for the cannabis market.
Cryptocurrency companies like California-based Paragon already tried tapping into the use of blockchain technology within the marijuana space,but this resulted in a lawsuitsince the company did not register its initial coin offering in accordance with California law and regulations. The company has since pivoted to the healthcare industry,acquiring shares in new operations like CareX(“CARE Tokens”).
Are we banking on too many unknowns?
Not everyone buys what blockchain proponents are selling, though.
“Blockchain systems are often thought of as having more integrity than non-blockchain systems, but the hardest part about creating an accurate record of what happened is typically about getting people to enter truthful data, not about protecting data from tampering once it’s in the system,” said Kai Stinchcombe toYahoo Canada Financevia email. Stinchcombe is the CEO ofTrue Link, a San Francisco-basedbanking and investment service for seniors, people with disabilities and those recovering from addiction.
“Blockchain based payments makes it harder to tamper with past records once they are in the system, but typically makes it easier rather than harder to enter false transactions in the first place,” explains Stinchcombe. “Think about a mysterious credit card charge showing up in your online banking. Do you think ‘someone stole my credit card number’ or do you think ‘someone at the bank entered a record of a transaction that never happened?'”
Stinchcombe, who dubs himself “Whatever the opposite of a futurist is” on hisMedium page, has been a vocal opponent to the use of blockchain technology.
“When a politician is caught having tweeted something racist they say ‘someone stole my password’ not ‘Twitter made that up, I never typed it’,” he adds. “Or suppose you’re using blockchain for organic certification–what about the fact that the record is kept on the blockchain and makes it harder for the person out in the field to spray pesticides on his [or her] mangoes?”
“I don’t think there’s any difficult problem in legal cannabis sales that blockchain can help with, unfortunately,” said Stinchcombe.
But mathematician Hoskinson remains keen that using blockchain technology could help “model out from seed to joint” in the marijuana space and that from a taxation standpoint, “[blockchain] could verify that everybody paid their taxes along the way.” He says people wouldn’t need banks because “you have an asset that requires no counter party, no custodian…it requires you to use corresponding relationships.”
“If you have a cash-like structure but you have the ability to do what banks do and teleport value anywhere in the world, the one problem is value stability,” explains Hoskinson. “You can’t go into a marijuana dispensary and be a Bitcoin speculator because the value goes way up or goes way down. [Dispensaries] are a business and at the end of a day they have margins, employees, bills. Their job is not about being a currency trader, their job is being a merchant so you need value stability for this to work, as we develop stable coins we’ll be able to integrate that into the system.”
In Ontario, recreational cannabis sales will be available only through the Ontario Cannabis Store starting in October. Sales through private dispensaries will come into effect in 2019.
Download the Yahoo Finance app, available forAppleandAndroid. || Airbnb Co-Founder Backs $23 Million Funding Round for Institutional Cryptocurrency Dealer: Institutional-grade cryptocurrency prime dealer SFOX has raised nearly $23 million to fund the development of full-featured asset management platform for large-scale cryptocurrency investors.
Announced on Thursday, SFOX’s $22.7 million Series A funding round was led by Tribe Capital and Social Capital, and it also included investments from Y Combinator, Khosla Ventures,Blockchain Capital, and Airbnb co-founder Nathan Blecharczyk.
SFOX helps institutional investors execute large cryptocurrency trades, routing orders through a myriad of exchanges and over-the-counter (OTC) trading desk, enabling them to capture the best available prices while also minimizing the impact that large orders have on cryptocurrency prices in the spot markets.
“The distributed nature of cryptocurrency has given rise to a large breadth of exchanges around the globe, creating a fragmented market and limited liquidity,” said Akbar Thobhani, CEO of SFOX. “Over the last four years, we’ve been able to provide our clients a single point of access and the best price execution by building the necessary smart routing technology to navigate and connect these global markets and exchanges.”
The company says that it has processed a total of $9 billion in transaction volume since its launch in 2014 and has seen its client base grow 12-fold in 2018, even as the cryptocurrency market has suffered under the weight of asevere downturn. That’s not entirely surprising, asdeclining trading volumeshave made it harder for investors to enter or exit large positions without causing violent price swings that ripple throughout the entire market.
Reflecting on how institutional investors have warmed to cryptocurrency since SFOX’s launch four years ago, Thobhani told CCN that he now spends far less time than he used to educating prospective clients on the basics of the industry — answering questions such as “What is Bitcoin?” — and more time explaining the nuances of the difference between various asset classes, as well as best practices for managing their cryptoassets.
Thobhani told CCN that SFOX plans to use its new capital to solve additional “pain points” for institutions throughout the trading process, from KYC/AML onboarding to post-trade reporting.
He said, “institutions are looking for more than just trading. Institutions for example, look for reporting so they can manage their accounting better. To support them, we provide unified reporting to our customers. SFOX provides a complete-suite solution for institutions, from KYC / AML APIs for onboarding, pre-trade analysis using our data analytics, to post-trade management using our reporting solutions. We will be using the capital we raised to build more tools to solve for these additional pain points for institutions and provide a complete crypto asset management platform.”
Images from Shutterstock
The postAirbnb Co-Founder Backs $23 Million Funding Round for Institutional Cryptocurrency Dealerappeared first onCCN. || Bitcoin Slips as Google Bans Crypto Mining on Android Play Store: Investing.com – Bitcoin and other major virtual currencies prices edged down on Monday as Google (NASDAQ:GOOGL) followed Apple’s footsteps to ban on-device mining apps on its Play Store.
Bitcoin was trading at $8,208.0 by 11:23PM ET (03:23 GMT) on the Bitfinex exchange, down 0.1% in the last 24 hours.
Ethereum, the world’s second largest cryptocurrency by market cap, was down 0.5% to $465.53 on the Bitifinex exchange.
Ripple’s XRP token traded 0.2% lower to $0.45434 on the Poloniex exchange.
Meanwhile, Litecoin also lost 0.4% and traded at 84.14 on Thursday.
Google said it no longer allows apps that mine cryptocurrency on devices to appear on its app store, although apps that process mining in the cloud would be permitted.
"We don't allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency," Google said in its updated policy, noting that the move is consistent with the industry’s approach.
The news followed Apple (NASDAQ:AAPL)'s decision to ban cryptocurrency mining on both iOS devices and Mac in June.
Elsewhere, Nasdaq held a “closed door” meeting with traditional trading exchange experts and cryptocurrency executives to discuss the industry’s future, as authorities continued to explore the best approach to adopt virtual currencies in a legitimate way.
Bloomberg reported that the meeting, which was held in Chicago recently, focused on future cryptocurrency rules and regulations and how modern technological improvements in surveillance tools are required to keep track on the regulated security token industry.
In other news, Mastercard President and CEO Ajay Banga’s comments caught some attention as he described cryptocurrency as “junk”.
“I think cryptocurrency is junk. The idea of an anonymized currency produced by people who have to mine it, the value of which can fluctuate wildly – that to me is not the way that any medium of exchange deserves to be considered as a medium of exchange,” said Banga.
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CEZA, NEM Deal Signals Major Shift in Philippines Blockchain Dev’t || Disney Executives Talk ESPN Subscribers, Fox, and Streaming: There was a lot to like whenWaltDisney(NYSE: DIS)reported itsthird-quarter financial resultson Aug. 7. The company achieved solid year-over-year growth, though results missed analysts' consensus estimates. Revenue increased 7% year over year, to $15.23 billion, driven by improved results in the company's media networks, parks and resorts, and studio entertainment segments.
On thequarterly conference callto discuss the results with analysts, Disney management provided a few tidbits about its declining subscriber growth at ESPN. However, in light ofComcast's recent decision tobow out of the bidding warfor the assets ofTwenty-First Century Fox(NASDAQ: FOX)(NASDAQ: FOXA), Disney executives spent much of the call detailing its massive acquisition, and how it will fit into the company's streaming plans.
Disney will gain theX-Mencharacters when it acquires Fox. Image source: 20th Century Fox.
One of the key concerns for Disney investors is the falling subscriber rate for the company's flagship ESPN sports network. With the adoption of streaming services gaining steam, consumers have been opting out of higher-priced cable packages in ever-increasing numbers. Since the media networks business provides the lion's share of Disney's profits, falling numbers at ESPN have been a growing concern.
A bit of encouraging news: CFO Christine McCarthy pointed out "this is the fourth consecutive quarter we've seen improvement in the rate of net subscriber declines. While net subscriber counts are still lower than prior year, we're encouraged by the trends we're seeing." CEO Bob Iger also addressed the issue, attributing the slower declines to the availability of smaller, lower-cost cable packages, which have "steadily slowed overall [subscription] losses."
Iger focused most of his prepared remarks on laying out his view of "the tremendous potential" arising from the Fox acquisition. In the wake of the overwhelming approval achieved in the recent shareholder vote, Iger said, "[W]e're even more enthusiastic and excited by all the opportunities ahead."
Iger spoke about the well-known Fox brands -- Searchlight, FX, and National Geographic -- and said Disney plans to "further invest" in them, using Fox "as a critical supplier of original content for our direct-to-consumer (DTC) platforms." He cited National Geographic as a "tremendous brand built on quality" and having "global reach and cross-generational appeal." He also highlighted Searchlight Pictures as a "creative engine we respect and admire a great deal," using the 20 Oscar nominations the studio achieved last year as proof of its excellence. Disney's strategy will be to "give the studio what it needs to continue to do what it does best."
He also highlighted 20th Century Fox Film, with "iconic movie franchises likeAvatar, Marvel'sX-Men,The Fantastic Four,Deadpool,Planet of the Apes,Kingsman, and many others." Iger said Disney is looking to "the Fox assets to enhance and accelerate our DTC strategy." Many have long suspected this might be the direction the company would take, but this is the first time that Iger has confirmed it.
Image source: Disney.
In response to an analyst question, Iger was clear that Disney's streaming offering wasn't going to try to compete withNetflixon quantity. He said, "It does not have to have anything close to the volume of what Netflix has because of the value of the brands and the specific value of the programs," citing the consumer appeal of Pixar, Marvel, Disney, Lucasfilm -- and ultimately National Geographic -- which he sees as a good fit with Disney's family-focused brands.
Iger said that while Netflix has many quality offerings, "they're also in the high-volume game. And we don't really need to do that." He said, "We've always believed we have the brands and content to be extremely competitive and to thrive alongside Netflix,Amazon, and anyone else in the market." Iger also revealed that Disney is contemplating a lower price point than Netflix, saying, "The price, by the way, will also reflect a lower volume of product." He went on to say that Disney's cost to produce and own the content would befarlower than Netflix's.
Many investors are convinced that there will ultimately be only one winner in the streaming market, but Iger doesn't believe that to be the case. "It's also interesting to note that today more than half of U.S. homes subscribe to streaming services," he said. "And on average, they subscribe to three different [subscription video on demand] products."
Iger doesn't think that Disney needs to win the streaming wars: It just needs to be among the top three that consumers ultimately choose -- and he thinks Disney will be. I, for one, agree.
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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.Danny Venaowns shares of Amazon, Netflix, and Walt Disney and has the following options: long January 2019 $85 calls on Walt Disney. The Motley Fool owns shares of and recommends Amazon, Netflix, and Walt Disney. The Motley Fool has adisclosure policy. || First Bitcoin Capital Corp Publishes Audited Financial Statements; Upgrades Company Website to New Address; Updates Shareholders: TEL AVIV, ISRAEL / ACCESSWIRE / August 23, 2018 /First Bitcoin Capital Corp (OTC PINK: BITCF) published its audited financial statements on its new website. See:http://firstbitcoin.io/investors/2016-2017-audited/
Update on Audits
The Company's Board of Directors accepted our PCAOB's audit and subsequently published our audited financial statements for the years ending 2016 and 2017 on our website, and therefore we have commenced the process of filing those financial statements in SEDAR to qualify for listing on a Canadian Stock Exchange. We look forward to seeing our shares trading in 3 markets in North America and Europe before the end of this year as a result.
New Website
We moved our website from bitcoincapitalcorp.com towww.firstbitcoin.ioand shareholders are encouraged to visit often where they can use our new communication tools and find important company updates. We anticipate rolling out some exciting new projects next week.
About First Bitcoin Capital Corp
First Bitcoin Capital Corp (OTC PINK: BITCF) (BITCF) (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.
Forward-LookingStatements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@firstbitcoin.ioor visithttp://www.firstbitcoin.io
SOURCE:First Bitcoin Capital Corp. || Why Sprouts Farmers Markets, Inc. Stock Skyrocketed 23.2% in August: What happened Shares of Sprouts Farmers Market Inc. (NASDAQ: SFM) jumped 23.2% in August, according to data from S&P Global Market Intelligence , after the natural and organic grocery chain released strong second-quarter results and modestly increased its full-year guidance. To be sure, Sprouts stock climbed more than 12% on Aug. 2, 2018, alone -- the first trading day after its report hit the wires -- then continued drifting higher from there. Neatly arranged produce at a Sprouts Farmers Market store IMAGE SOURCE: SPROUTS FARMERS MARKET. So what Sprouts' quarterly revenue climbed 12% year over year to $1.32 billion, including a modest 2% increase in comparable-store sales.That translated to a 2% increase in net income to $42 million, and -- thanks to share repurchases over the past year -- 10% earnings growth on a per-share basis to $0.32. Both the top and bottom lines were roughly in line with Wall Street's expectations. According to CEO Amin Maredia, the company's double-digit growth "reflects the strength of Sprouts' differentiated business model and our solid execution across new and existing markets." Now what Looking ahead to the rest of the year, Sprouts called for 2018 earnings per share in the range of $1.24 to $1.28, marking a $0.02-per-share increase from the lower end of its previous range. Sprouts also reaffirmed its full-year 2018 outlook for net sales to jump 10.5% to 11.5%, assuming comparable-store sales growth of 1.5% to 2.5%. Of course, this report wasn't exactly the jaw-dropping variety that typically results in big post-earnings gains. But shares had also fallen around 25% from their 52-week high set this past February, leaving the stock ripe for a rebound on the first sign of good news. As a result, it was no surprise to see Sprouts bouncing back last month last month, and it will be equally unsurprising if the stock sustains its momentum in the coming months. 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 Steve Symington 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 . || Colorado Authority Investigates 3 Cryptocurrency Firms Behind Unregistered ICOs: Colorado’s Department of Regulatory Agencies (DORA) has revealed plans to asses three crypto-based firms offering “unregistered Initial Coin Offerings” in the state as part of an ongoing investigation into a practice being used by fraudulent companies to defraud members of the public.
Theinvestigationis being carried out by members of the Division of Securities, part of the Department of Regulatory Agencies (DORA), an “ICO Task Force” convened by the Commissioner in May.
The announcement from DORA reads in part:
“The companies that received the orders are Bionic Coin, Sybrelabs Ltd. (also known as Cryptoarb), and Global Pay Net (also known as Glpn Coin and Gpn Token). Previous orders were submitted to Bitcoin Investments Ltd. (also doing business as Db Capital), Estatex, Bitconnect Ltd., and Magma Foundation (also doing business as Magma Coin).”
Commissioner Rome signed the “orders to show cause” recently which is a notice sent to business to defend their case in court by explaining their business operations. The court orders were issued on Friday, August 24, 2018, but at press time, none of the three firms have answered, the report notes.
Bionic Coin, one of the firms being investigated promises investors that invest in their token (BNC) a wild growth of their “money without any effort.” The site goes on to list the logos of media partners such as Forbes magazine, but there are currently no mention or reference of the company on the sites it claims are promoting it. The website also incentivizes users to promote the coin on social media for a chance to receive in exchange for tokens.
The story is the same for Sybrelabs and Global Pay Net. Sybrelabs Ltd, also known as Crypotarb encourages investors to promote the investment pool and “offers large percentages of profits for minimum participation of $25.00, up to soliciting “active investment portfolios” of $25,000 or more,” according to the report.
Global Pay Net is said to be an international financial platform with its native token (GLPN) that equates ownership in the business. The company also promises an 80 percent stake in the business for investors, and it lists cryptocurrency experts as advisors, two of whom, has denied involvement with the company.
Featured image from Shutterstock.
The postColorado Authority Investigates 3 Cryptocurrency Firms Behind Unregistered ICOsappeared first onCCN. || Today's Close Could be Pivotal for Bitcoin's Price: Bitcoin's (BTC) close today will likely decide the short-term trend in prices. The leading cryptocurrency snapped a three-day losing streak on Thursday as the 26 percent sell-off witnessed in the last three weeks was looking overstretched . What's more important is that BTC traded yesterday within the high and low range of the previous day, indicating the bears have likely run out of steam and the bulls are still reluctant to enter the market at these levels. Honeyminer Signs Up 50K Users for Easy Crypto Mining App It seems safe to say that the bitcoin market has become indecisive in the last 24 hours. However, a stronger corrective rally could be seen over the weekend if prices find acceptance above the previous day's high of $6,628, though it won't be an easy task. The cryptocurrency is currently trading at $6,350 on Bitfinex â down 4 percent from the highs seen yesterday. Daily chart As seen in the above chart, BTC created an inside-day candle yesterday, signaling indecision among both bulls and the bears. A close (as per UTC) above $6,628 (previous day's high) would confirm a short-term bear-to-bull trend change. Fed Up and Forking: Rival EOS Blockchains Are Becoming a Reality On the other hand, if prices close today below $6,183 (Thursday's low), then BTC could resume the sell-off toward the June low of $5,755. As of now, this scenario appears more likely as the 5-day and 10-day moving averages (MA) are steeply sloping south, indicating strong bearish pressure. Hourly chart As the above chart shows, BTC has created a bear flag â a bearish continuation pattern â which indicates the sell-off from the high of $7,130 (pole high) would resume if prices take out the flag support (lower end) of $6,240. A bear flag breakdown, if confirmed, would open the doors to $5,240 (target as per the measured height method), although the target looks far-fetched as of now. That said, it could easily yield a drop to the June low of $5,755. Story continues The relative strength index (RSI) has breached the rising trendline in favor of the bears. Hence, the probability of BTC witnessing a bear flag breakdown in the next few hours is high. View Thursday's inside-day candle has neutralized the immediate bearish outlook and indicates indecision in the marketplace. A short-term bull reversal would be confirmed if BTC scales the previous day's high of $6,628. A bear flag breakdown (drop below $6,240) would strengthen the odds of BTC finding acceptance below $6,183 (previous day's low) and falling towards $5,755 (June low) over the next few days. Disclosure:  The author holds no cryptocurrency assets at the time of writing. Bitcoin  image via Shutterstock; Charts by Trading View Related Stories Bitcoin's Open Secret: Lightning Is Making Better Online Payments Possible Bulls Get Relief as Bitcoin Price Beats $6.5K Resistance || U.S. securities law can cover cryptocurrencies, judge rules: By Brendan Pierson
NEW YORK (Reuters) - U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue.
The ruling from U.S. District Judge Raymond Dearie in Brooklyn allows federal prosecutors to pursue their case against Maksim Zaslavskiy. The Brooklyn resident was arrested in November on charges that he defrauded investors in two cryptocurrencies, violating the federal Securities Exchange Act.
Lawyers for Zaslavskiy did not immediately respond to requests for comment. A spokesman for the office of U.S. Attorney Richard Donoghue, which is prosecuting the case, declined to comment.
Cryptocurrencies, like the well-known Bitcoin, are digital assets that may be treated as currency by their users, though they are not legal tender. So-called "initial coin offerings" soliciting investments in new cryptocurrencies have raised billions of dollars in recent years.
Prosecutors have said that Zaslavskiy last year raised at least $300,000 from investors in a cryptocurrency called REcoin, which he claimed was backed by real estate, and another cryptocurrency called Diamond, which he said was backed by diamonds.
In fact, prosecutors said, no real estate or diamonds backed the virtual currencies.
In March, Zaslavskiy's lawyers asked Dearie to dismiss the charges, arguing that REcoin and Diamond were currencies, not securities, and therefore not covered by the Securities Exchange Act.
Dearie rejected that argument, writing on Tuesday that the federal securities law must be interpreted "flexibly." The judge noted that the U.S. Securities and Exchange Commission, which brings civil securities fraud actions, has said that it considers some cryptocurrencies to be securities.
Dearie's opinion and other filings in the case did not cite any previous court decisions addressing whether the federal securities law can be used in a fraud prosecution involving cryptocurrencies.
Regulation of virtual currencies is still in its early stages, and Congress has not passed any laws addressing it directly.
In March, another federal judge in Brooklyn ruled that cryptocurrencies could be regulated as commodities by the U.S. Commodity Futures Trading Commission.
(Reporting By Brendan Pierson in New York; Editing by Cynthia Osterman)
[Random Sample of Social Media Buzz (last 60 days)]
@BTC_INFOCHAIN || @btc_update || @satoshi_BTC || @India_Bitcoin || Get Free Bitcoin http://bowwellebay.blog.fc2.com || @btc_reddit || Hey its the top of the hour time to beg mrbeastyt for a bitcoin. Pls give me a bitcoin pic.twitter.com/06Aa3UOhge || @bitcoin_reddit || A $XMR is worth 0.01604288 BTC || @bitcoin_reddit
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Trend: no change || Prices: 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
2018 in 4 Words – ICOs and Ethereum Died: Unless you’re Spencer Bogart , most people would agree that 2018 has been a dismal year for crypto–even if they don’t say it on their Twitter feeds. If you want to sum up the year in four words, you could try using these: ICOs and Ethereum are dead. Forums, Telegram groups, Slack chats, there’s no shortage of predictions for Ethereum’s collapse, ICOs futures, FUD, and personal nagging fears about ending up in a dumpster. But, beyond the gossip and speculation, what do the industry insiders have to say? Here the top execs from OKEx , ShapeShift , SFOX , Decred , eMusic, and ICOx Innovations share their views on 2018 so far and what’s on the radar for next year. Some of it might surprise you. Bitcoin Price Has Been Manipulated Andy Cheung, OKEx Head of Operations OKEx Head of Operations Andy Cheung believes that institutions have been controlling the market and that once the price hovers around the $3,000 mark, that’s when it will rebound as the big gun investors get on board. He says: I personally believe people are pushing it down because we want more traditional and institutional people to enter the market. It was too high, people were like “what the hell?” Right now it’s a very good price, so traditional people can actually come into the crypto space and then we’ll slowly go up. $3,000 is really cheap to buy right now and then I believe it will go up. ICOs and Ethereum Are Dead Jake Yocom-Piatt Co-founder of Decred Co-founder of Decred Jake Yocom-Piatt doesn’t mince his words and he had a few more things to say about 2018 than the price of bitcoin. As an autonomous digital currency focused on community input and sustainable funding for development, perhaps he’s a little biased. Not only did 2018 kill off ICOs but he sustains that Ethereum is gasping for its last breaths of air as well. In 2018, we saw the ICO model die, Ethereum flame out, dApps and tokens go to zero, and ERC-20 projects generate insanely creative business models just to avoid regulation in a brazen grab for cash. Observing these failures reinforced our belief that the blockchain-driven future isn’t a quick fix. It will take decades, patience, and longevity to build and gain mass adoption. Institutional Investment and Stablecoins in 2019 Akbar Thobhani SFOX CEO You may be bored of hearing about institutional investment. But while CME and CBOE didn’t bring the expected wads of cash from Wall Street that was initially expected, projects like Bakkt and Fidelity look to be offering something different. Physically settled futures contracts will at least mean that speculative traders have to buy bitcoin to bet on its price. And with companies like Microsoft and Starbucks supposedly on board, maybe it will change the game. Story continues Akbar Thobhani, as CEO of SFOX, a crypto prime dealer that’s building an institutional crypto asset management platform, clearly, getting the big players on board is in his interests. He says: 2018 was marked by significant infrastructure developments and institutional buy-in. Despite the recent bear market conditions, this trend will continue next year. I believe that as prices recover, we’ll see at least one $50 million or over ICO that is registered with the SEC or otherwise operates with their blessing. We may even see a player like Fidelity including cryptocurrencies as a 401(k) investment offering. Additionally, whereas most stablecoin efforts were concentrated in the U.S. in 2018, in 2019 more and more countries will adopt their own stablecoins — and accordingly, stablecoin volume will become collectively greater than the trading volume of a top five crypto. The Bursting Bubble Was a Blessing in Disguise Cameron Chell Chairman of ICOx Innovations Cameron Chell, Chairman of ICOx Innovations that creates crypto products for established companies to grow their business through blockchain believes the bear market of 2018 was actually a good thing. Despite the falling prices, plenty of household names started getting interested in blockchain tech and will continue to do so. Respected brands like IBM, Walmart, and Kodak partnered with some of the best minds in blockchain to bring transparency to supply chain and intellectual property protection, to name a few industries. Meanwhile, institutional heavyweights like Goldman Sachs and Fidelity opened dedicated crypto desks — signaling that, speculation aside, crypto and blockchain are a long-term play, and everyone is paying attention. The crypto speculation bubble that popped in 2018 was a blessing in disguise. It caused the craze to fade into the background, which will pave the way for real-world blockchain applications to come to the fore in 2019. The Year of Reverse ICOs Tamir Koch Tamir Koch, President of eMusic, the first major music platform to fully embrace blockchain through the eMusic Blockchain Project for music distribution and payments says that reverse ICOs will dominate the landscape for the year ahead. Raising bucketloads of startup cash will no longer be as easy as presenting a white paper and an idea. Despite the market downturn, 2018 was the year where mainstream adoption of crypto began to gain steam. I believe 2019 will be a major step forward, with a huge player coming out and embracing crypto, such as a payment company accepting crypto, pushing adoption by the public into the mainstream. 2019 will also be the year of the reverse ICO. Gone are the days of companies with just a white paper and a dream. Bitcoin Will Never Die Jon ShapeShift Co-Founder Finally, ShapeShift Co-Founder and COO Jon silences the critics and all the naysayers ringing the death knell for bitcoin. Rather than selling hopium to the masses, he recognizes that the past year hasn’t been a good one, but that there’s plenty of fight left in Bitcoin yet. I won’t sugarcoat the current crypto market slump. We’ve seen investors become more reserved, and currencies, although no longer in free fall, struggling to regain relative value. However, the claim that Bitcoin is dead is a laughable one. We’ve heard this proclaimed in the past, and undoubtedly we’ll hear it again and again in the future. We know that that isn’t true, and 2018 has been a year of growth and fast-paced technological innovation for companies across the industry. Yes, the bear market matters, but it’s a period of time with a beginning and an end, part of a cycle that repeats itself over the years. At ShapeShift, we’re focusing on what comes next. For 2019, I’m particularly excited to see the Lightning Network, Ethereum, and other protocols continue to work on scaling. These are exciting to watch and have been making significant developments. The Takeaway So there you have it. Unlike last year when analysts were battling it out to make bold predictions about when crypto was going to the moon, some experts are saying that ICOs and Ethereum are dead. There’s also a lot more focus on protocol than price. Yet all opinions seem to lead to pretty much the same road: the blockchain revolution will take little longer than we thought but we’re still moving in the right direction (unless you’re HODLing Ethereum). To use the closing words of Yocom-Piatt: Just like during the dot-com bubble, endurance matters. Those that survived the dot-com crash stood tall over those who ran out of gas. It was those projects that came to dominate the space. Featured image from Shutterstock. Portraits from LinkedIn, Twitter, and YouTube. The post 2018 in 4 Words – ICOs and Ethereum Died appeared first on CCN . View comments || Bitcoin Falls 10% In Selloff: Investing.com - Bitcoin was trading at $3,963.9 by 16:48 (21:48 GMT) on the Investing.com Index on Saturday, down 10.15% on the day. It was the largest one-day percentage loss since November 19.
The move downwards pushed Bitcoin's market cap down to $68.7B, or 53.55% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $3,954.8 to $4,494.6 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 28.92%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $4.1B or 33.42% of the total volume of all cryptocurrencies. It has traded in a range of $3,954.7612 to $5,727.8755 in the past 7 days.
At its current price, Bitcoin is still down 80.05% from its all-time high of $19,870.62 set on December 17, 2017.
XRP was last at $0.38502 on the Investing.com Index, down 6.00% on the day.
Ethereum was trading at $114.97 on the Investing.com Index, a loss of 7.29%.
XRP's market cap was last at $15.3B or 11.94% of the total cryptocurrency market cap, while Ethereum's market cap totaled $11.8B or 9.23% of the total cryptocurrency market value.
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Cardano Falls 10% In Selloff || Bitcoin And Ethereum Daily Price Forecast – BTC & ETH Trade Flat Post Santa Rally Amid Holiday Thin Market: Bitcoin has been unable to correct above $4,000 since the slide on December 25. The bears seem to be back after they gave the bulls a chance to breath in the days leading to Christmas celebrations. Bitcoin had traded highs around $4,238.11 before starting to deflate and break below the trend line support at $4,032. This initiated a sharp drop below $4,000 as well as the 50 and the 100 Simple Moving Averages in the 1-hour range. Luckily, the declines found a soft landing at $3,700 as the buyers came in to stop further breakdown. At the moment, BTC/USD is stuck in a tight bear range with a resistance at $3,863.81. The price is still trading below the Simple Moving Averages while the digital asset is valued at $3,786.70.
The path of least resistance is sideways according to the Relative Strength Index levels shown. Since the slide on December 25 the indicator has not explored the oversold region in addition to the current upward slope around 50. The pair is now consolidating losses incurred during thin holiday market and no major moves are expected to happened ahead of New year as many traders won’t return to their trading desk until first week of January when holiday season is completely over. Ethereum price is facing an uphill task against the US Dollar and bitcoin. ETH/USD may continue to face a strong resistance near the $130 zone. Recently, we saw a minor upside correction above $130 in ETH price against the US Dollar. The ETH/USD pair even moved above the $134 level, but gains were limited.
There was even a push above the 23.6% Fib retracement level of the recent drop from the $160 swing high to $121 low. However, the price struggled to settle above the $135 resistance and later declined. There was a break below the $126 level and the 100 hourly simple moving average. However, the price remained above the $121 support and it is currently consolidating losses. More importantly, there is a major bearish trend line in place with resistance at $130 on the hourly chart of ETH/USD. A break above trend line and then $131 may push the price towards the $135 resistance. On the flipside, the $121 support area holds a lot of importance. If there is a break below $121, the price could extend sharp declines.
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – stock markets roll over a bit || Corrected: Analysis - As bitcoin trading shifts shape, big money stays away: (Corrects spelling of first name to Erik (not Eric) in paragraph 21) By Tom Wilson LONDON (Reuters) - Bitcoin's value has plunged by three-quarters this year, sending the original and biggest cryptocurrency back to levels not seen before its bubble. And price isn't the only aspect of trading that has changed. The retail investors behind bitcoin's dizzying ascent to a record of nearly $20,000 last December have fled, leaving the early adopters and crypto-related firms that traditionally dominated digital coin trading driving exchange volumes. And while bigger investors from proprietary traders to hedge funds are growing more active, mainstream financial firms have stayed away from cryptocurrencies, even as market infrastructure seen as key to their entry begins to be built. The shifting shape of digital coin trading, depicted by industry data and interviews with exchanges and companies, suggests bitcoin is struggling to evolve from a speculative asset favoured by relatively niche investors to an investment choice in the same league as stocks or bonds. Such an institutional breakthrough is seen as key to the sector's future, promising to help fund the development of cryptocurrencies and spread their real-world use for purposes like payments and money transfers. Monthly cryptocurrency trading volumes at major exchanges reached $235.8 billion in November, a threefold rise from the early stages of the bitcoin bubble in September 2017 but still down nearly half from their peak a year ago, data from industry website CryptoCompare shows. In the same period, volumes at major retail-focused exchanges such as U.S.-based Coinbase and Poloniex, owned by Goldman Sachs-backed Circle, shrank 22 percent and 74 percent respectively. Japan's bitFlyer has also suffered, with volumes down 47 percent last month. As retail punters fade away, volumes have soared at exchanges such as Bitfinex that are favoured by bigger investors. That's down to growing activity by a mixture of cryptocurrency miners and startups with big holdings, plus prop traders, hedge funds and wealthy individuals and families, say industry insiders. Story continues Bitfinex trading volumes climbed 38 percent in November, which the firm attributes to traditional investors with roots in high-frequency trading opening accounts since March. "You've got the larger exchanges picking up the slack and making gains of market share, with retail exchanges stepping back," said CryptoCompare's Charlie Hayter. "That's the real shift -- the (cryptocurrency) mining companies looking to pay their electricity bills using the exchanges that operate with larger players, and newer entrants trying to gain some form of exposure." Asked about the figures, Coinbase said trading in the crypto sector was growing. Poloniex said the data reflected moves in the wider market. BitFlyer declined to comment. CryptoCompare's data covers most of the biggest exchanges, with the company adding new exchanges to its database when their volumes hit significant levels. Bitcoin was trading on Friday at 15-month lows around $3,400. INSTITUTIONAL INERTIA Cryptocurrency markets are hard to accurately gauge, given the lack of centralised data and opacity of major venues such as over-the-counter trading, said to account for up to 50 percent of the overall market. Likewise, there are few ways to accurately break down the profile of investors in the crypto market. But exchanges and industry figures interviewed by Reuters said institutional investors such as asset managers, pension funds and investment banks remain largely absent from bitcoin trading, even as the shape of the market changes. Most worry about the lack of clarity over regulation, as well as frequent security breaches at exchanges and the perceived absence of fundamental value of the assets. That reluctance has remained even as strides are made in how to securely trade and store cryptocurrencies, notably by Fidelity Investments, and as a number of small jurisdictions like Gibraltar and Malta look to licence crypto companies. Clearer regulation will lend a stamp of legitimacy to cryptocurrency companies and weed out sub-standard players, say analysts, and may ease institutional investors' worries about compliance. "Some individuals at banks and financial firms want to step in, but can't decide how to explain it to senior management," said Erik Wilgenhof Plante, chief compliance officer at BeQuant, an exchange that serves around 600 mostly non-retail clients. One big hurdle is the lack of examples of blockchain, which underpins bitcoin and other cryptocurrencies, living up to its billing as a technology that could revolutionise sectors from finance to real estate. Circle's Chief Marketing Officer Marieke Flament said the focus on bitcoin often obscures advances being made in other areas of cryptocurrencies. She cited the startup's own "stablecoin" digital currency, which is pegged one-to-one with the dollar and could appeal to institutional investors. "There is still a lot of focus on bitcoin," said Flament. "That is really missing the depth of the stuff that's happening." But despite the work by startups and major firms, developers and exchanges, top-tier mainstream investors have stayed away. "You have seen some landmark decisions by Fidelity to actively engage in the cryptocurrency space," said Danny Masters, chairman of digital asset manager CoinShares. "But nothing is actually active." (Reporting by Tom Wilson; Editing by Catherine Evans) || BitPay Integrates PAX Stablecoin Into Cryptocurrency Payment Platform: Bitcoin payment platform BitPay is now going to allow payments with thePaxos Standard token (PAX), which it calls “the fastest growing stablecoin and the highest trading volume of any U.S. dollar-backed stablecoin.”
Although BitPay has previously integrated a number of different cryptocurrencies in its platform, such a widely trafficked stablecoin (the first of its kind to see support from the payment platform) holds certain distinct advantages, namely regulatory compliance and a stable value. Seeing as each PAX token represents $1, merchants and customers might feel more comfortable transacting the token in lieu of other cryptocurrencies, which are often subject to volatile price swings.
An important credential that comes with PAX’s name is its regulatory compliance, as it is “issued directly by a regulated Trust company and is approved for issuance by the New York State Department Financial Services.” Although there are several prominent stablecoins in the space, Paxos is the first to have this level of authenticity.
The release commented little on the future plans of BitPay’s new partnership, but the adoption of a prominent stablecoin is a logical next move.Stablecoinshave recently been drawing theinterestof the space, with more and more attempts to launch cryptocurrencies that can successfully maintain a peg with fiat.
Combining the most prominent sales platform for cryptocurrency with a fast-growing and well-regulated stablecoin is an advantageous match, one that would ideally attract more merchants and consumers to the platform now that they have a price stable cryptocurrency to transact.
This article originally appeared onBitcoin Magazine. || Bitcoin falls over 7 percent, heads towards one-year low: LONDON (Reuters) - Bitcoin fell as much as 7 percent on Friday <BTC=BTSP>, heading towards a recent one-year low in a broad-based selloff in cryptocurrencies.
The world's biggest and best-known cryptocurrency fell to $3,920.35 in late morning trade, heading towards a September 2017 low of $3,474.73 hit on Sunday. Other cryptocurrencies including Ethereum's ether and Ripple's XRP also weakened.
Bitcoin and other cryptocurrencies have been mauled in recent weeks, with analysts citing increased U.S. regulatory scrutiny and a delay to January 2019 of the widely-anticipated launch of bitcoin futures by Bakkt, Intercontinental Exchange's crypto platform have fueled the downturn.
(Reporting by Saikat Chatterjee; Editing by Tom Wilson) || Crypto Carnage: Market Loses Staggering $26 Billion in 24 Hours, Where to Next?: Over the last 24 hours, the crypto market suffered a devastating wipeout of more than $26 billion, making it one of the most intense daily sell-offs in all of 2018. Bitcoin (BTC), which demonstrated a record high level of stability from August to November, recorded a drop of more than 11 percent within a 12-hour period. The unforeseen decline in the price of BTC led other major cryptocurrencies and small market cap digital assets to initiate steep downward movements. Bitcoin Cash (BCH) recorded the worst drop on the day, falling by more than 19 percent at one point. Within a seven-day span, BCH dropped by over 50 percent against the US dollar and by nearly 40 percent against BTC. Bitcoin Volume Doubles The intensity of the sell-off on November 15, which is still ongoing for several major cryptocurrencies, reached a point in which BTC saw its volume double from $4 billion to $8.1 billion. From August to November, the volume of BTC rarely surpassed the $4 billion, other than the first two weeks of this month. Bitcoin’s volume mostly stayed in the range of $3.1 billion to $3.5 billion, as the cryptocurrency exchange market demonstrated low trading activity in a period of low volatility. Prior to the drop of Bitcoin from $6,200 to the low $5,600 region, DonAlt, a respected cryptocurrency trader and technical analyst, said that BTC showed low momentum and weakness. “BTC looks pretty weak, this might be the first time I’m not buying $6,200 in quite a while. I’m just not trusting it to hold forever after getting battered for so long. If it does break, alternative cryptocurrencies will suffer hardest.” Over the past 24 hours, the price trend of Bitcoin has played out similarly to the trend laid out by DonAlt, and small market cap cryptocurrencies have suffered against both Bitcoin and the US dollar. Throughout the first two quarters of 2018, tokens and small market cap digital assets recorded 40 to 80 percent losses against BTC, which declined by around 70 percent on its own. The 15 to 20 percent losses of tokens on November 15 bring their total yearly losses to around 95 to 98 percent. Story continues Some traders, including Cred, expects BTC to revisit the $6,000 resistance level as it operated as a support level for over four months. “Around $6,000 was a very active level — I expect price to revisit that area. If it does, make sure you have a plan as opposed to blindly panicking. This is what I am looking at from a D1 swing trade perspective. Use LTFs to further define your areas.” An immediate corrective rally to $6,000 will relieve most of the sell pressure on the crypto market and revive the momentum of many major cryptocurrencies. But, at $5,600, a short-term recovery to $6,000 seems unlikely at this point. 2019 If the negative sentiment from 2018 continues to 2019, it is most likely for the crypto market to bottom out by the end of the first quarter or the second quarter of next year, especially if the launch of the Bakkt Bitcoin futures market has a less of an impact on the market and fails to meet the expectations of investors. Featured image from Shutterstock. The post Crypto Carnage: Market Loses Staggering $26 Billion in 24 Hours, Where to Next? appeared first on CCN . || Bitcoin News Crypto Currency Daily Roundup November 5: The rundown: Bitcoin and all major currencies were up in the morning; blockchain platform Phore Blockchain to list its digital asset phore on the Ternion Exchange; New York-based blockchain firm Blocktech is launching a blockchain lab in Saudi Arabia; Reliance Industries announcedit is has conducted its first trade finance transaction using blockchain; Taiwan changes rules to better regulate cryptocurrency transactions; and more.
Here is what is happening in the cryptocurrency market on Monday.
SEE:Hong Kong’s Securities Regulator SFC Unveils Crypto Rules
SEE:Coinbase Custody Partners With Wilshire Phoenix To Launch A Dedicated Crypto Fund
In the News
Blockchain platformPhore Blockchainannounced that its digital asset phore (PHR) will be listed for trading on the Ternion Exchange on Nov. 15. The PHR listing will go live on the exchange with aPHR/Bitcoinpairing followed by aPHR/USDfiat pairing in January 2019. Ternion is the second exchange in the world to be licensed by the European-based Financial Intelligence Unit.
New York-based blockchain companyBlocktechis launching a blockchain lab at Taibah University in Madinah, Saudi Arabia. Directed by artificial intelligence expert Professor Walaa Alharthi, the lab will be the kingdom’s first research and development lab dedicated to blockchain technologies. The lab will operate in conjunction with the Taibah University Faculties of Computer Science, Law and Business with the goal of catalyzing blockchain adoption in the Middle East.
Malta-based digital asset exchangeOKExhas been recognized asCrypto Exchange of the Yearat the first edition of the Malta Blockchain Awards. The award was presented in the ceremony held during Malta Blockchain Summit 2018 to recognize the companies, experts, and leaders who made outstanding contribution to the blockchain technology development in Malta. The Crypto Exchange of the Year award is judged by 32 industry leaders and executives with combined experience in the blockchain Industry. OKEx stood out from fellow finalists Binance and BitBay.
Oil and gas giantReliance Industries, owned by India’s richest manMukesh Ambani, has conducted its first trade finance transaction using blockchain technology,CoinDeskreported citing a press statement from HSBC India. The company has executed the “live” blockchain-powered trade finance transaction in collaboration with US-based chemical distributor Tricon Energy. Hitendra Dave, HSBC India’s head for global banking and markets, said in the statement that “the use of blockchain is a significant step towards digitizing trade.”
Taiwanis introducing new rules as part of its efforts to regulate cryptocurrency transactions. At the end of the last week, the Taiwanese legislative bodyLegislative Yuanpassed amendments to existing rules to allow the Financial Supervisory Commission the power to “crack down on anonymous virtual currency transactions,” according to a report byFocus Taiwan. The agency will now have the authority to ask operators of virtual currency platforms to “implement ‘real-name systems’ that require users to register their real names, according to the new provisions,” according to the news report.
Cryptocurrency Prices Today (As of 7:15 AM EST)
Bitcoin (BTC)is up 0.85% over the past 24 hours, trading at $6,430.04.
Ethereum (ETH)is trading at $208.85 in the morning, up 3.89% over a 24-hour period.
EOSis trading at $5.48, up 0.74% over the past 24 hours.
Ripple (XRP)is trading at $0.4650, up 2.40% over a 24-hour period.
Litecoin (LTC)is trading at $53.43, up 0.89% over a 24-hour period.
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The postBitcoin News Crypto Currency Daily Roundup November 5appeared first onMarket Exclusive. || Early Trading Shows Clear Preference In Divide Over Bitcoin Cash Fork: An experimental market on a major crypto exchange suggests that bitcoin cash users may favor the more established version of the software, Bitcoin ABC, ahead of an expected fork this month. Due to the technical design of the cryptocurrency, currently the fourth-largest by market capitalization, bitcoin cash users must "hard fork" the blockchain, or adopt a new software version with changes as decided by open-source developers, every six months. Things are different this time around, though, amid the emergence of a rival version of the software called Bitcoin SV. As a result, anticipation has been growing that bitcoin cash (BCH) may undergo a divisive hard fork in which it splits into two competing cryptocurrencies. SEC Charges EtherDelta Founder Over 'Unregistered Securities Exchange' That said, data from cryptocurrency exchange Poloniex, operated by Goldman Sachs-backed blockchain startup Circle, indicates Bitcoin ABC may be the preferred version. After launching markets meant to represent both versions of the software (including the as-yet-to-launch Bitcoin SV), Bitcoin ABC has a clear lead, trading at a price over four times higher. Poloniex introduced "pre-fork" trading, at around 01:00 UTC today in an effort to retain a neutral stance during the upcoming Bitcoin Cash upgrade. The idea that theoretical markets can help users determine consensus around technical roadmaps has been raised before , and this is the latest version of an exchange seeking to play a role in supporting community decision-making. By offering the pairs, the exchange is essentially allowing its customers to see which chain might be more widely supported, should both softwares be introduced. What the charts show Still, evidence indicates the debate may not be as divisive as feared. Recovery in Doubt as Bitcoin Price Drops Out of Bullish Channel As can be seen in the chart below, BCHABC is trading at a price of $465 (priced in USDC, the exchange's dollar-pegged stablecoin), which is 4.2 times higher the BCHSV's current price of $109 USDC at time of writing. For comparison, the price of BCH is currently $596 USDC on Poloniex. Story continues Pre-fork trading has been live for roughly 12-hours and is only available to those willing to convert their BCH to either of the forks, so trading volumes are still small. That said, BCHABC is again leading the charge with twice twice trading volume of BCHSV. At press time, $45,785 USDC and $21,988 USDC have been traded for BCHABC and BCHSV, respectively. While the experimental markets are relatively illiquid, the price discovery can be expected to be particularly erratic until sufficient liquidity has established. BCHABC and BCHSV deposits and withdraws will only be enabled once the actual Bitcoin Cash fork takes place on Nov. 15, even then there is no guarantee the forks will become "economically or technically viable," Poloniex says . The exchange warns: " You do not have to engage in pre-fork trading. If you choose to engage in pre-fork trading, please note that, as with all trading on the platform, trading in these assets can be extremely risky, and you trade at your own risk.  It is possible that one of these chains will not be economically or technically viable after the fork, and its value will drop to zero." Disclosure:  The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing. Lead Bitcoin ABC developer Amaury Séchet image via CoinDesk Consensus archive Related Stories Star Trek's Shatner Defends Ethereum Creator Vitalik Buterin in Tweetstorm Crypto Exchange Poloniex Announces 'Pre-Fork' Trading for Bitcoin Cash || Op-Ed: Bitcoin Price Hits 2018 Low – It’s Time to Buy the Dip: From a historical perspective, the most profitable strategy in Bitcoin has been “buying the dip.” This means that when the price drops notably, one purchases some coin, holds it, and later on when the price rebounds, sells it. The Bitcoin price has historically walked its way up the market capitalization stairs, having sold well beneath a penny when it first found itself on fiat exchanges.
The market cap of Bitcoin todayfound its 13-month low, at less than $93 billion, with a token price hovering around $5,300 and analysts projecting it will find its way to $5,000. Those in this game for any length of time can tell you that these drops often precede rocket rises. Nobody’s clear on why the whole of the crypto market has been taking a beating, but certainly government persecution has played a role.
Bitcoin makes up nearly (or sometimes, more than) half the market capitalization of cryptocurrencies as a whole. It and a few others are the first on the tongues of people expressing a new interest in the future of money, and it also has the most options for buying and selling with fiat currencies. In fact, for most cryptocurrencies, Bitcoin is the route to fiat returns.
Thus it doesn’t take a veteran market analyst to tell you: buying season is upon us. If the price continues to trend lower, it will eventually hit a critical mass where it may go much lower. If that doesn’t happen, then what we’re seeing is decidedly a “dip.” In either case, history shows us that buying Bitcoin when it goes down is a solid strategy to realize good returns at a later time. It’s easier than ever to do, and unless you’re planning to make a many-million-dollar purchase, a price change of even $2-300 can be weathered, and before long, selling season will return.
Timing one’s purchase can be difficult. The author isn’t here to instill fear of missing out (FOMO), but at the same time, there’s really no telling in the volatile crypto market just how long a buy window will remain open. Analysts are frequently wrong and dumbfounded by the activities of the crypto markets – going both directions. Many believe that Bitcoin is still very much in a price discovery phase overall, owing in part to the continual inflation brought on by mining rewards. Although it probably would be unworkable to assert that no true price of Bitcoin can be found until all the block rewards have effectively been exhausted, it is true that down markets are made worse by the hourly introduction of newly mined coins.
Whatever happens, those looking for a chance to get in on the crypto market might take note of the discount prices we’re seeing across the board, and plan or make their move accordingly before they regret not doing so later.
Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.
Featured image from Shutterstock.
The postOp-Ed: Bitcoin Price Hits 2018 Low – It’s Time to Buy the Dipappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
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$TNT $TRX $TUSD $VET $VIA $VIB $VIBE $WABI $WAN $WAVES $WINGS $WPR $WTC $XEM $XLN $XMR $XRP $XVG $YOYO $ZEC $ZEN $ZIL $ZRX || If you need advice on Digital Assets like Bitcoin, We at your service.
Feel free to contact us any time! https://t.co/xhAUndQUCI || 最もBTC/JPYのスプレッドが狭いのは？(2018-11-15 04:00:01 現在)
bitFlyer 1.00
Liquid 5.45
coincheck 10.00
BITPoint 607.58
Zaif 1470.00
bitbank 1870.00 || Total Market Cap: $135,635,779,128
1 BTC: $4,184.31
BTC Dominance: 53.63%
Update Time: 02-12-2018 - 19:00:11 (GMT+3) || : 1 BTC @ 03:00 CET: 3,566.13€ (+17.12) / $4,040.96 (+18.02) || U.S. Department of Treasury’s OFAC takes action against two Iranians involved in Bitcoin ransomware scheme SamSam
https://cointelegraph.com/news/us-treasury-dept-takes-action-against-two-iranians-allegedly-involved-in-btc-ransomware … : #Cointelegraph $btc $eth $pay $neo $sec $sc || Every hour past 00 and 30 we will tweet #CryptoCurrency Market Report in USD and every hour past 15 and 45 we will tweet in Bitcoin. More info https://robostopia.com || 24H
2018/11/27 15:00 (2018/11/26 15:00)
LONG : 27620.12 BTC (-144.65 BTC)
SHORT : 33529.58 BTC (+3276.18 BTC)
LS比 : 45% vs 54% (47% vs 52%) || El Diario: Las ICOs Se Preparan Para El Cripto Invierno Y Llegan Las Meta…
Read more: https://app.algory.io/app/cryptonews/345705/el-diario-las-icos-se-preparan-para-el …
#cryptocurrency #cryptonews #crypto #algory #BTC #ETH #BCH #VEN #STEEM #TUSD #ANT #EL #GUSD #GeminiDollar #Bitcoin #Ethereum #BitcoinCash #VeChain #Steem #TrueUSD || The Fastest Way Bitcoin Cash Flow #bitcoin #traffic #moneyonlinehttp://bit.ly/2zSuzPr
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Trend: up || Prices: 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30
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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 2019-01-07]
BTC Price: 4025.25, BTC RSI: 53.91
Gold Price: 1286.80, Gold RSI: 68.40
Oil Price: 48.52, Oil RSI: 47.03
[Random Sample of News (last 60 days)]
Holiday Shopping Lifts Leveraged ETF Past 200-Day Moving Average: This article was originally published onETFTrends.com.
Christmas came early for retailers as a strong showing in sales during Thanksgiving, Black Friday and Cyber Monday gave retail-focused exchange-traded funds (ETFs) a boost, including theDirexion Daily Retail Bull 3X ETF (RETL), which was lifted past its 200-day moving average.
Based onYahoo! Finance performance figures, RETL is up 3.05% year-to-date and 51.60% the past year. In the last 5 days, RETL moved past its 200-day moving average with a tailwind of strong Black Friday sales amounting to a record $6.22 billion, according to Adobe Analytics.
RETL seeks daily investment results of 300% of the daily performance of the S&P Retail Select Industry Index. RETL invests in securities found within the index, which is a modified equal-weighted index that measures the performance of the stocks comprising the S&P Total Market Index.
If Black Friday wasn't enough to prop up retail exchange-traded funds (ETFs), RETL got an additional boost from Cyber Monday sales reaching a record $7.9 billion, according to data from Adobe Analytics, which represented a 19.3% increase from a year ago. Retail sales on Thanksgiving Day also represented a strong online presence--a total of $3.7 billion.
The sales increase, especially for Cyber Monday, speaks to the obvious shift of consumer spending habits from brick-and-mortar retail to the convenience of online shopping. This constant year-over-year migration from brick-and-mortar to online was evident as visits to physical retail stores was down for a fifth straight year, according to aWall Street Journal report.
However, the drop in 2018 wasn't a steep drop-off from 2017 as consumers still use physical stores to purchase items they know are in stock or want to view an item prior to purchasing it online for a better price. If the trend persists, the holiday shopping through Christmas should sustain, but beyond that will be the biggest question--especially with trade wars looming.
U.S. President Donald Trump and China president Xi Jinping are scheduled to meet at the G-20 Summit in Buenos Aires this Friday. Of course, the hope for the capital markets is that both sides settle their differences on trade, which could send the retail sector, and all sectors for that matter, soaring.
"Any positive developments from the Fed or the Chinese (are) going to send these things roaring," said CNBC's Jim Cramer on a recent episode of"Mad Money.""It's all about assessing the risk-reward, and some of these names, I think, have become a lot more attractive."
Related:Dow Jumps Over 300 Points as Retail and Tech Rally
For more market updates, visit theETFTrends.com.
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READ MORE AT ETFTRENDS.COM > || Bitcoin Price Could Bottom as Early as December [But Definitely by February]: Analyst: bitcoin price sprinter According to David Puell, a Bitcoin and market analyst, the dominant cryptocurrency could either reach its bottom by the end of December or within the first quarter of 2019. The $4,300 region, which Bitcoin entered after enduring a 35 percent correction from around $6,600, has been established as a comfortable region for the asset. With resistances stacked up above the $4,300 mark, the analyst explained that a pullback from the current price could trigger exhaustion in the lower range. Puell said : Since volatility has dramatically increased, it is pertinent to have a granular view of current volume node structure. Resistances have piled up, so any pullback must be closely watched for any sign of exhaustion. The $4,300 area is the center of mass. Climax by December or February of 2019 bitcoin price chart Based on the steep decline in the price of Bitcoin over the past several months and the major resistance levels that have formed in the range of $4,000 to $6,000, a further drop below $4,000 could result in the market losing most of its momentum it recently gained. A potential bottom target, according to Puell, is $2,800, which would signify an 85 percent drop from its all-time high price at $19,500. But, Puell emphasized that a bottom can only be achieved by Bitcoin if the sell-off reaches its climax, bears lose leverage, and the market begins to show exhaustion. Currently, the market is extremely volatile and is moving up and down by 10 to 20 percent on a daily basis. In the past 24 hours, Bitcoin surged by 12 percent while Stellar , another major cryptocurrency, spiked by nearly 15 percent. Weekly Gaussian bands (1) show a crucial confluence with the general $2,800 high value node zone (2). This gives a more detailed view of the nuances that come with that level in terms of potential swing and closing weekly price behavior. This general area is also supported by the 200-week MA and a good deal of buying positions (volume at time) back in Sept 2017, said Puell, adding that the bear market could extend to 2019. Story continues He explained: Given the strength of the downtrend and current information, a selling climax may come as soon as December and as late as February.` Q1 2019 Willy Woo, the founder of Woobull.com, proposed a similar time frame for the end of the Bitcoin bear market. Earlier this month, Woo stated that the market is likely to reach its bottom by mid-2019, based on fundamental indicators like the transaction volume and user activity of major cryptocurrencies. Analysts generally agree that to recover from the intense sell-off of November that resulted in the loss of nearly $80 billion from the cryptocurrency market, a months-long consolidation period will be needed, and major digital assets will have to demonstrate a relatively high level of stability in a lower price range. Small market cap tokens have shown a promising upward price movement in the past 24 hours, with some including ICON rising by more than 30 percent. But, most assets are still down substantially since October. Featured Image from Shutterstock. Charts from TradingView . The post Bitcoin Price Could Bottom as Early as December [But Definitely by February]: Analyst appeared first on CCN . || Teenage Bomb Hoaxer Jailed after Banking $800,000 in Bitcoin: bitcoin bomb hoax An American-Israeli teenager who made bomb threats for a living has been sentenced to a decade in prison by a Tel Aviv court after making a small fortune in bitcoin. According to prosecutors, 19-year old Michael Kadar was responsible for around 2,000 bomb hoaxes between 2015 and 2017, threats which earned him the nickname the JCC bomb hoaxer in Israel due to his focus on Jewish Community Centers. Other targets included commercial airlines, airports, police stations, malls, hospitals, and schools, per The New York Times . To make bomb threats to commercial jets Kadar, charged US$500, while bomb threats to private residences cost US$40. Kadar, who was home-schooled due to an autistic condition that made integration difficult, charged US$80 to make a bomb threat to schools. Dark Web Operator Per court documents, Kadar offered his services on the dark net, and he was paid in bitcoin , generating close to 184 BTC (around US$0.8 million at current prices ) in the course of the career that started when he was a minor. bitcoin crime According to media reports in Israel, some of the bomb threats Kadar made to schools occurred after he was paid by students who wanted to have exams postponed. The bomb hoaxes generated panic and resulted in forced mass evacuations as police and emergency services responded. In some instances, fighter jets were scrambled in order to escort commercial planes that had been forced to land. One can easily imagine the terror, the fear and the horror that gripped the airplane passengers who were forced to make an emergency landing, some of whom were injured while evacuating the plane and the terrified panic caused when there was a need to evacuate pupils from schools because of fake bomb threats, read the verdict from Judge Zvi Gurfinkel. Campaign of Terror Spanning Continents Among the countries that Kadars campaign of terror was visited upon included Israel, the United States, the United Kingdom, Germany, Canada, Australia, Sweden, Denmark, Norway, New Zealand, Ireland, Belgium, and Argentina. Story continues Kadar, who made the bomb threats from his parents home in Ashkelon, a coastal city in southern Israel , used sophisticated software that altered his voice and disguised his location. An investigation into his crimes took the efforts of the Israeli Police and the US Federal Bureau of Investigation, as well as other security agencies from around the world. Though several thousand US dollars in cash were found on Kadar when his home was raided, the teen refused to disclose the details of his bitcoin wallet , which is believed to contain the bulk of his earnings. Featured Image from Shutterstock The post Teenage Bomb Hoaxer Jailed after Banking $800,000 in Bitcoin appeared first on CCN . || 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) || Fixed Income Investing in Volatile Markets: This article was originally published onETFTrends.com.
Rising market volatility and macro uncertainty can be a good reminder of why investors have looked to core fixed income to anchor their portfolios. The diversification potential of core bonds, as well as their risk-adjusted return potential, can help investors de-risk their equity exposure while potentially providing attractive returns.
On the upcoming webcast,Fixed Income Investing in Volatile Markets, David Braun, Head of U.S. Financial Institutions Portfolio Management at PIMCO, and Don Suskind, Head of ETF Strategy at PIMCO, will provide tips and insights for attractive risk-adjusted returns and stability within a broad investment portfolio.
Bond investors seeking to diversify their bond portfolios and limit interest rate risks may turn to actively managed short-term strategies that could allow for more options to protect capital and manage liquidity while generating income. For instance, fixed-income investor can protect against the potential upcoming rate-induced volatility through short duration actively managed bond funds, such as thePIMCO Low Duration Active ETF (LDUR) and thePIMCO Enhanced Short Maturity Active ETF (MINT) . The bond ETFs are backed by an active management team to select opportunities in low-duration bonds. The active manager has the flexibility to go beyond traditional government debt and include other debt securities like corporate credit to diversify and limit potential risks.
LDUR has a short 1.06 year duration, so a 1% rise in interest rates would only translate to about a minimal 1.06% decline in the fund’s price, and it shows a 3.39% 30-day SEC yield. The ETF largely includes investment-grade debt, but potential investors should be aware that the active ETF includes a hefty tilt toward investment-grade corporate debt.
Additionally, MINT is meant to be used as an incremental step outside of the money market funds. Investors would use the active ETF for capital preservation or to take a defensive view on the market. MINT shows a 0.31 year duration and a 2.67% 30-day SEC yield. The fund only includes investment-grade debt, but most of it is in investment-grade credit 57.8%, followed by mortgage 19.1% and other short-duration instruments 10.5.
Financial advisors who are interested in learning more about fixed-income investments canregister for the Wednesday, December 5 webcast here.
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READ MORE AT ETFTRENDS.COM > || The pound steadies as the City predicts a softer Brexit: The pound was slightly higher against the dollar and euro on Wednesday as trouble for UK prime minister Theresa May’s government was upping the possibility of a soft Brexit.
The pound dropped sharply on Tuesday after ministers werefound in “contempt of parliament” for withholding full Brexit legal advice.Sterling briefly touched April 2017 lows against the dollar.
However, the pound has recovered on Wednesday morning and is trading up 0.1% against the euro (GBPEUR=X) and 0.2% against the dollar (GBPUSD=X).
“I think that the success of Dominic Grieve’s amendment in parliament yesterday ups the chances of avoiding a no-deal Brexit, because if Theresa May’s plan gets voted down, MPs now have more of a say in the aftermath,” Connor Campbell, a financial analyst at SpreadEx, told Yahoo Finance UK when asked about the pound’s performance.
Pro-Europe Conservative MP Grieve got an amendment passed last night that gives parliament more say on the Brexit deal if it is rejected by parliament. The vote on the deal is scheduled to take place next Tuesday.
Michael Hewson, chief market analyst at CMC Markets, said: “The prospect of no-deal is further away than ever given recent events which means that it’s probably May’s deal or some form of soft Brexit or remain.”
JPMorgan said in a note on Wednesday thatthe probability of the UK remaining in the EU has now risen to 40%, up from 20% previously. It comes after a top EU lawyer on Tuesday said the UK could unilaterally revoke Article 50, essentially reversing the Brexit process.
Michael van Dulken, head of research at Accendo Markets, told Yahoo Finance UK that the increasing probability of a softer Brexit — or even no Brexit — was supporting sterling as it is seen as good for the UK economy.
“The chance of a softer or maybe even no Brexit means less economic harm than May’s deal and especially a no deal,” van Dulken said.
“I’d anticipate a bit of a rally that will fizzle,” Neil Wilson, chief market analyst at Markets.com, said. “If the government falls – which I’m sure it will – then the pound could go back to 1.23 and even 1.20.
“Of course, what’s fascinating is that a government fall, I believe, opens up the case for a second referendum. You’ll see huge push for that should the government fall. That would be bullish for sterling.”
————
Oscar Williams-Grut covers banking, fintech, and finance for Yahoo Finance UK. Follow him on Twitter at@OscarWGrut.
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• Skype’s cofounder is trying to raise a $750m tech fund || DSW Gets Back on the Right Foot: The retail industry has gone through huge changes in recent years, and that's affected players from the largest big-box department stores down to niche stores in shopping centers and strip malls across the nation. This time last year, footwear specialistDSW(NYSE: DSW)was going throughdifficult times, as many shoe manufacturers were looking at ways to go direct to consumers with their products rather than using intermediary retailers.
Coming into Tuesday's fiscal third-quarter financial report, DSW investors wanted to see solid double-digit percentage growth throughout the business. DSW's results went one better than that, with even higher numbers as well as expectations for a prosperous holiday season.
Image source: DSW.
DSW's third-quarter results continued the positive momentum that the retailer has generated recently. Sales were higher by 17% to $833 million, accelerating from their pace of growth in the fiscal second quarter and easily eclipsing the 12% rate that most of those following the stock were looking to see. Adjusted net income soared 56% to $57.9 million, and that produced adjusted earnings of $0.70 per share, far above the consensus forecast among investors for $0.51 per share.
As we've seen in recent quarters, DSW's growth came from a mix of sources. The company's move to consolidate its Canadian retail business added more than 11 percentage points of sales growth to its overall numbers, but the U.S. retail segment did manage to sport a 10% rise in revenue. Even with the winding down of its Town Shoes concept and reduced emphasis on the DSW Affiliated Business Group unit, organic revenue growth came in at around 6%.
Comparable sales were up across the board. The key U.S. retail unit saw a 7.3% rise, which matched that of the company overall. Affiliated Business Group saw slightly weaker comps of 6.5%, and falling store counts showed that the division is having less of an impact on the overall business than it has in the past.
CEO Roger Rawlins celebrated the news. "The nationwide roll-out of DSW Kids drove the most successful back-to-school season in our history," Rawlins said, "and our recently acquired Canadian business delivered the best results in the last five years." In addition, the CEO pointed to investments in merchandising, marketing, and employees in helping DSW sustain its upward trajectory.
DSW is especially enthusiastic about itsrecent acquisition of Camuto Group, which will give it both operational and distribution facilities in Brazil, China, and the U.S. along with licensing rights to a host of well-known brands, including Lucky Brand, Max Studio, and Jessica Simpson footwear. Some have criticized the purchase as eating into DSW's financial health at a pivotal time, but for the company's part, Rawlins thinks that the move "brings powerful design and sourcing capabilities in-house and new streams of revenue from one of the leading lifestyle brands in fashion footwear."
DSW was impressed enough with its performance that it boosted its guidance once again. New adjusted earnings projections for $1.70 to $1.85 per share were higher by $0.10 per share from previous guidance, and the company now sees a huge boost of 12% to 14% for revenue for the full year, far above the 6% to 9% range it previously anticipated. An upgrade in comparable sales growth to mid- or high-single-digit percentages was also a sign that DSW is firing on all cylinders going into the holidays.
DSW investors couldn't have been happier with the news, and the stock jumped 12% in premarket trading following the announcement. With its worst times behind it, DSW looks like it's on a path to keep putting its best foot forward for the foreseeable future.
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Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool recommends DSW. The Motley Fool has adisclosure policy. || Despite Slump in Crypto Prices, Bitcoin ATMs More Than Doubled in 2018: bitcoin atm 2018 Despite the market downturn in digital asset values, cryptocurrency automated teller machines (ATMs) are still in vogue. According to a tweet from cryptocurrency analytics firm DataLight, the number of crypto ATMs doubled in 2018 from 2,025 ATMs in 2017 to 4,051 ATMs, signaling an increase in the adoption of cryptocurrencies in general, despite the slump in price. November will go down as a month investors won’t forget in a hurry, as bitcoin, along with the rest of the cryptocurrency market, experienced a massive slump in prices. Bitcoin, the dominant cryptocurrency, fell to $3,750 in November, as the market witnessed massive selloffs that would have bitcoin touch nearly $3,000 in December. Data from Coin ATM Radar shows that while 68 bitcoin ATMs were closed in November, 209 new machines were also installed by operators all across the world. Bitcoin of America led the way, introducing 16 new ATMs, followed closely by CoinFlip Bitcoin ATMs and Localcoin, who installed 10 and 7 new ATMs, respectively. While the U.S. remains the dominant country with 70 new installations, Peru, Albania and South Korea had their first bitcoin ATMs installed in November, the data from Coin ATM Radar revealed. Bitcoin ATMs have also been a target of criminals. Security researchers at Trend Micro discovered malware that targets a service vulnerability in bitcoin ATMs, selling for $25,000, in an underground forum. A senior researcher at Trend Micro, Fernando Mercês, commented on the vulnerability in his report, criticizing bitcoin ATMs for their lack of security standards, which make them easy to hack. “Unlike regular ATMs, there is no single set of verification or security standards for Bitcoin ATMs. For example, instead of requiring an ATM, credit, or debit card for transactions, a Bitcoin ATM involves the use of mobile numbers and ID cards for user identity verification.” They might not be as secure as traditional ATMs, but they are still finding meaningful uses cases across the world. Story continues Bitcoin ATMs and Cannabis While providing an easy avenue to trade bitcoin, these crypto ATMs have also created a channel for pot companies that are experiencing banking restrictions. Bitcoin ATMs have made it easier for pot companies to receive payments from customers, thereby reducing their dependencies on cash. Cannabis cryptocurrency PotCoin also partnered with bitcoin ATM provider GENERAL BYTES (GB) , making use of GB’s network of crypto ATMs to ease the transaction process for cannabis vendors. Virtual Crypto Technologies also developed a proprietary crypto payment solution for cannabis dispensaries that enables them to exchange pot for bitcoin using a QR code placed on the shop’s point-of-sale interface. This article originally appeared on Bitcoin Magazine . || Reports Claim Investors Lost Homes as Bitcoin Crashed, Isn’t the Stock Market the Same?: Sky News, a British TV station and mainstream media outlet, reported that investors lost homes as the Bitcoin price crashed. But, the same argument can be applied to the stock market, real estate, and every other major market.
The report claimed that investors put up their homes as collateral to receive loans and invest in Bitcoin. As theprice of Bitcoindropped, their homes were taken away along with their assets.
The reportread:
Married men accessed equity through their family homes, and often – whether because they felt they needed to act quickly to make the most money, or because they feared that their investment would be criticised by their spouses – did so without informing their families, only to see the value of their assets evaporate, followed by their homes.
Crypto assets likeBitcoin (BTC)andEthereum (ETH)are still at their infancy and are a part of an emerging asset class.
In February,Vitalik Buterin, the co-founder of Ethereum, said that cryptocurrencies are a hyper-volatile asset class and it is not an intelligent investment decision to allocate more than an amount that can be lost, as cryptocurrencies could drop near-zero in a short period of time.
“Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet,” Buterinsaidat the time.
The phrases “the rich get richer” and “money earns money” refer to the ability of the wealthy to hold on to risky assets and survive bear markets without liquidating their assets. On the contrary, investors that invest more than they can afford to lose in a highly volatile asset class but need the money to cover short-term expenses have no other choice but toliquidatetheir assets and obtain cash.
In the aftermath of the 2008 financial crisis, which affected the economy of theUnited Statesthroughout the following years, the suicide rate of Europe and the Americas surged. Investors, especially retail or individual investors, who lost money in the stock market found it difficult to deal with anxiety, depression, and high levels of stress acquired from previous recessions.
Wealthy investors that had not cashed out of real estate properties and assets in thestock marketthroughout 2008, however, recorded no losses because they were able to wait out the bear market.
Investments in hyper-volatile assets without necessary risk management which publications have focused on when reporting about Bitcoin throughout the 2018 bear market are not exclusive to cryptocurrencies.
Many investors in the stock market and real estate oftenrack up debtto engage in high-risk investments and deals without proper risk management, which in most cases lead to full-blown bankruptcies.
When investing, especially in emerging asset classes, it is of the utmost importance for investors to weigh the risks involved in the trade and expect to survive a long-lasting bear market if it arrives.
Featured Image from Shutterstock. Charts fromTradingView.
The postReports Claim Investors Lost Homes as Bitcoin Crashed, Isn’t the Stock Market the Same?appeared first onCCN. || 2 Steel Stocks That Have a Killer Advantage: Steel is a cyclical business driven largely by the economy's ups and downs. However, there are some important differences in the industry between companies like Nucor Corporation (NYSE: NUE) and Steel Dynamics, Inc. (NASDAQ: STLD) and iconic names like United States Steel Corporation (NYSE: X) . Here's the big, killer advantage that Nucor and Steel Dynamics have in the steel industry. Making steel vs. recycling steel U.S. Steel's business is built on blast furnaces. This is an older technology that uses iron ore and metallurgical coal to make primary steel. These mills are generally very large and are costly to operate. They can be incredibly profitable operations when run at high capacity, but they tend to bleed red ink during downturns because capacity utilization can quickly fall to the point where the mills don't cover their operating costs. You will often see steel companies like U.S. Steel and peer AK Steel Corporation (NYSE: AKS) , which is also heavily reliant on blast furnaces, idle mills in downturns to contain costs. Upturns often bring shuttered mills back online. But the key takeaway is that both U.S. Steel and AK Steel have high costs because of the way in which they make steel. A steel mill with three men pouring molten metal Image source: Getty Images. Nucor and Steel Dynamics, on the other hand, use electric arc furnaces. This is a newer technology that, as the name implies, uses electricity to make steel. These steel companies tend to operate smaller mills that are more efficient than blast furnaces at lower operating levels and, to simplify a complex process a little, are easier to turn on and off. This gives Nucor and Steel Dynamics an important edge when you take a through-the-cycle look at the steel industry. They may not be as profitable when the industry is peaking, but when the downturn hits, they tend to do much better. To put a number on that, over the past decade, Nucor reported a net loss only once. Steel Dynamics did so twice. This span includes a deep steel industry downturn that started after the 2007 to 2009 recession and the upturn that started in early 2016. U.S. Steel lost money in seven of the last 10 years, while AK Steel posted losses in eight of those years. Using electric arc furnaces is a huge advantage for Nucor and Steel Dynamics, but there are other factors involved when you look at each individual company, too. Digging a little more With a technological head start, it would be easy to just call Nucor and Steel Dynamics better steel companies, but that would be too simplistic. As noted above, blast furnaces can be very profitable when run at high capacities. So, investors looking for a way to play a cyclical upturn in the steel industry will probably get more bang for their buck from investing in blast furnace owners like U.S. Steel and AK Steel. For example, these two stocks rocketed higher in 2016 when it became clear that an upturn was unfolding...leaving Nucor and Steel Dynamics in the dust. Story continues AKS Chart AKS data by YCharts . However, if you are looking at a more fundamental level, there are reasons beyond the mill technology they use to like Nucor and Steel Dynamics. The first, as noted above, is that this pair of electric arc mills tend to be more consistently profitable. That's a huge benefit for investors who prefer to buy and hold. However, Nucor and Steel Dynamics also have very solid balance sheets . That helps them weather downturns better financially. For example, following two good years in the steel industry, long-term debt makes up around 95% AK Steel's capital structure. That figure at U.S. Steel is about 40%. Just a few years ago, though, AK Steel's shareholder equity was negative, leaving debt at more than 100% of the capital structure. And U.S. Steel's debt peaked at around 57% in 2016. There were very real concerns about whether or not AK Steel and U.S. Steel would survive the deep steel industry downturn after the 2007 to 2009 recession. By comparison, long-term debt at Steel Dynamics is currently around 37% of the capital structure. The highest level over the past decade was in 2008, when it peaked at 58%. That looks a lot like the highs and lows at U.S. Steel. The difference is that Steel Dynamics is a younger mill that's still growing its operating footprint, so it has been using leverage to opportunistically fund growth. When U.S. Steel's leverage peaked, it was looking to shed assets to bring debt levels down, a fundamentally different position. AKS Financial Debt to Equity (Quarterly) Chart AKS Financial Debt to Equity (Quarterly) data by YCharts . Nucor, meanwhile, has the best balance sheet in the industry, with debt making up just 30% of the capital structure. The worst level in the past decade was 37% in 2015. That, interestingly enough, includes Nucor, one of the largest mills in North America, making a number of opportunistic investments through the downturn. Nucor, is by far, the U.S. steel mill with the strongest financial foundation. Tied together Using electric arc furnaces give Nucor and Steel Dynamics a valuable edge over companies like AK Steel and U.S. Steel, which make heavy use of blast furnaces. That's the big picture -- and one reason you might want to avoid AK Steel and U.S. Steel. However, Nucor and Steel Dynamics have also made very good use of their advantage by remaining financially disciplined and, at the same time, opportunistically growing their businesses during the downturn -- a period during which AK Steel and U.S. Steel were focused on survival. That's highlighted by the balance sheet trends of Steel Dynamics and U.S. Steel. Nucor, meanwhile, is solid as a rock in good times and bad. Following an industry upturn, steel companies are doing pretty well today and aren't exactly cheap. If you are looking for a steel stock to buy right now, Nucor would likely be the best option . However, if you wait for the next cyclical downturn, and keep the electric arc versus blast furnace issue in mind, you can probably find two steel mills with a killer advantage trading on the sale rack even though they are industry standouts. 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 $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer owns shares of Nucor. The Motley Fool recommends Nucor. The Motley Fool has a disclosure policy . View comments
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$BTC $XLM $XRP $BCH $EOS $ADA $REDD $AOA $KCS $AION $WAN $MTH $FUN $MONA $ENJ $QKC $SALT $REQ $RLC $NEXO $PEER $RVN $OCN $EDO $NEBL $ETpic.twitter.com/3VvLx3DWVY || Where is the bottom of bitcoin??
https://goo.gl/iHoYmc
$ETC $ETH $EVX $FUEL $FUN $GAS $GNT $GO $GRS $GTO $GVT $GXS $HC $HOT $ICX $INS $IOST $IOTA $IOTX $KEY $KMD $KNC $LEND $LINK $LOOM $LRC $LISK $LTC || SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval
https://news.bitcoin.com/sec-chair-bitcoin-etf-approval/ … || Düzeltme...Btc/Modl paritesi https://t.co/qV9danx04D’da.
#btc #bitcoin #modl #moduletoken #cyrptocurrency #btcmodl #cyrpto #kripto #felixo #felixoexchange #modlexchange #modltoken #blockchain #blockchain4 https://t.co/0O3gzD6WXL || 2018/12/26 14:00
#Binance 格安コイン
1位 #HOT 0.00000012 BTC(0.05円)
2位 #NPXS 0.00000014 BTC(0.06円)
3位 #BCN 0.00000022 BTC(0.09円)
4位 #DENT 0.00000030 BTC(0.13円)
5位 #NCASH 0.00000052 BTC(0.22円)
#仮想通貨 #アルトコイン #草コイン || Bitcoin enthusiasts haven't really confronted the fact that government policies have huge impact on cryptocurrency markets. Perhaps more so than USD. || 2018/12/07（金）12:00
ビットコインの価格は377,548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/TfRSp13wbh || Bitcoin has become a subject of jokes and good laughs among the AWS datascientist community But this one is particularly funny ! Terabytes = privacy
https://www.slideshare.net/AmazonWebServices/petabyte-scale-computing-on-amazon-ec2-with-bigdata-vishal-malik-cognizant …
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Trend: down || Prices: 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-04-15]
BTC Price: 63314.01, BTC RSI: 66.04
Gold Price: 1765.40, Gold RSI: 57.19
Oil Price: 63.46, Oil RSI: 58.10
[Random Sample of News (last 60 days)]
Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High: Business analytics firm MicroStrategy has made yet another largebitcoinpurchase, buying a further $15 million worth.
• MicroStrategyannouncedFriday it purchased approximately 262 more BTC at an average price per coin of $57,146, just a little over $1,000 away from the cryptocurrency’s all-time high.
• This latest purchase brings the firm’s total bitcoin holdings to around 91,326, bought for an average of $24,214 apiece.
• At the time of writing, this is equal to around $5.1 billion, compared to the approximate $2.21 billion MicroStrategy paid for them.
• The company’sshareprice has partly recovered from a month-long downturn, which saw it dip as low as $547.40 on March 5.
• MicroStrategy stock was listed at $763 in pre-market trading today and stands at $803.75 at press time.
See also:MicroStrategy Keeps Stacking Sats With Additional $15M Bitcoin Buy
• Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High
• Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High
• Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High
• Forget Buying the Dip, MicroStrategy Buys $15M of Bitcoin as It Nears the All-Time High || Meet Bright Enabulele, the Visionary Oduwa Coin Creator and Indigenous Cryptocurrency Innovator: SHERIDAN, WY / ACCESSWIRE / February 25, 2021 / Recently Oduwa Coin has announces the launching of the platform. With an aim to become the new voice of Africa and help its beautiful people become financially mature, literate, and achieve independence from everyday problems, Enabulele has developed a unique and specific platform called Oduwa Coin . The Creation of Oduwa Coin Mankind has always progressed with innovations and advancements. Blockchain technology has brought several new possibilities to the world. Innovators like Mr. Bright Enabulele have been a vital part of these developments bringing people, untouched by the benefits of cryptocurrency to the mainstream. Today people have technologies like neural networks, reusable rockets and people are continuously striving to enhance our understanding of this universe. But what is the purpose of these developments if people knowingly or unknowingly ignore those who really need our help to reach a better position? Some creators and inventors are working to bring the benefits of one of the most amazing inventions of the 21st Century to every corner. Primarily Bright Enabulele started as a software engineer whose interest in blockchain arose in 2010. Ever since Enabulele has maintained a keen interest in engaging with blockchain and bringing its numerous benefits to the entire indigenous communities. Raised and born in Africa, Enabulele's first thought goes in the favor of his fellow countrymen who he thinks are still underserved and not taught about the benefits of cryptocurrency. So, the Oduwa creator is on a mission to bring the benefits of blockchain to even the downtrodden and remote areas of the country. His passion and empathy for the people make him not only a great creator but also a great human being. By following his resolve to help the common man, Enabulele has created Oduwa Coin design for indigenous peoples of Africa. Enabulele's goal is to change the way money moves through Africa and the rest of the world. Story continues Enabulele's sting with Cryptocurrency Ever since Enabulele's association with cryptocurrency began in 2010, the innovator capitalized on this amazing technology to create economic opportunities and financial literacy for the communities which were not very enthusiastic and underserved. As the co-founder of Oduwa Blockchain Solutions Enabulele has helped develop a fintech solution named Oduwacoin. This is the first step that the innovator has taken in this respect. The Oduwa coin helps people transfer digital cash to any one they want without any territorial restrictions. The Oduwa network is built to deliver higher performance, efficiency, and enable quick transactions at lower costs. A v ision to loo k f orward To The innovator's mission and vision are apt for the 21st Century. With Oduwa coin, the creator wants to address Africa's financial backwardness and start a fintech revolution in the continent. Apart from the ability to transfer the digital cash from peer to peer, the Oduwa Network has functions like Oduwa Insurance to protect the user's investments. Oduwa is the answer to otherwise impenetrable and high-cost cryptocurrencies like Bitcoin that have not yet reached several parts of the world. Oduwa Coin's philosophy is simple, "Your Money should work for you and not against you." Oduwa Coin wants the users to engage in mining, crypto trading, and exchange from a safe and secure platform. By building a platform on the principles of self-governance, fairness, the Oduwa creator wants to create an ecosystem of democratic governance in the fintech domain. "Everyone with a cellphone can and should have access to a wider and global digital economy thus diminishing the restrictions caused by territorial borders." With this belief, Enabulele has created a potent cryptocurrency that will tie the people with a single thread. About Oduwa Coin The Oduwa creator and his team is working to create an effective digital infrastructure for indigenous communities and transform how the people of Africa interact with the world. Referred to as the next-gen alternative to Bitcoin, Oduwa coin is a cryptocurrency network that helps to transfer digital cash to anyone, anywhere on the globe without any fees or restrictions. The entire Oduwa Network is super-efficient, fast, secure, and reliable along with ensuring that there is no fraud or double spending. Oduwa is a free open-source project derived from collaborative blockchain frameworks to provide a long-term Energy-Efficient SCRYPT-Based Cryptocurrency. Built on the foundation of Hybrid Blockchain POW/POS, innovations such as proof-of-stake help further advance the field of crypto-currency and boost the concept of nearly No- Cost transaction fees for all OWC users to send and receive Oduwa. Media contact Company: Oduwa Blockchain Solutions Ltd. Email: support@oduwacoin.io Twitter: https://twitter.com/oduwacoin Website: https://www.oduwapay.com ; https://www.oduwacoin.io Telephone: +13072743456 SOURCE: Oduwa Blockchain Solutions Ltd. View source version on accesswire.com: https://www.accesswire.com/631888/Meet-Bright-Enabulele-the-Visionary-Oduwa-Coin-Creator-and-Indigenous-Cryptocurrency-Innovator || Bitcoin and ethereum prices 'seem high,' says Musk: (Reuters) - Billionaire CEO Elon Musk said on Saturday the price of bitcoin and ethereum seemed high, at a time when the cryptocurrencies have hit record highs, with bitcoin crossing the $1 trillion market-capitalization threshold. The chief executive of Tesla Inc, whose recent tweets have fueled the digital-currency rally, made the remark on Twitter while replying to a user who said that gold was better than both bitcoin and conventional cash. Musk, who earlier in the week remarked that he found the prospect of holding bitcoin adventurous for an S&P 500 company, said in a tweet: "Money is just data that allows us to avoid the inconvenience of barter ..." "That said, BTC & ETH do seem high lol," he added. Bitcoin, the world's most popular cryptocurrency, hit a fresh high in Asian trading on Saturday, extending a two-month rally a day after the digital currency's market capitalization exceeded $1 trillion. Ethereum or ether is the second-largest cryptocurrency by market capitalization and daily volume. Musk, an ardent proponent of digital currencies, has defended Tesla's recent purchase of $1.5 billion of bitcoin, which has ignited mainstream interest in the digital currency. (Reporting by Bhargav Acharya in Bengaluru; Editing by Matthew Lewis) || Bitcoin Is Trading Near Record-High Again But Analyst Says We Are Staring At A Meltdown: Bitcoin’s(BTC) recent gains may be short-lived and “the whole rally in crypto is getting very long in the tooth,” according to Boris Schlossberg, a leading foreign exchange expert.
What Happened:“I think we’re very, very close to perhaps an intermediate-term top here. A little bit of a correction is certainly due at this point,” Boris Schlossberg, managing director of FX strategy at BK Asset Management,saidTuesday on CNBC’s “Trading Nation.”
BTC traded 0.54% lower at $59,354.38 over the past 24 hours at press time, but was up 11.2% over the past week, indicating a recovery. It has an all-time high of $61,683, hit last month.
See also:How to Buy Bitcoin (BTC)
Bitcoin’s Recent Gains:The cryptocurrency’s recent gains came afterPayPal Holdings Inc.(NASDAQ:PYPL) said it will allow its U.S. customers to use their cryptocurrency holdingsto pay at millions of online merchantsaround the globe.
PayPal’s move came a day after payments giantVisa Inc(NYSE:V) said it would allowpayments to be settleddirectly via cryptocurrency on the Ethereum blockchain.
Schlossberg noted that Bitcoin’s high degree of volatility will likely mean transactions on platforms such as PayPal’s will be “infinitesimally small” compared to regular currency. However, he feels Bitcoin is a better store of value than gold.
See Also:Why Is Ethereum Surging, Outperforming Bitcoin Today?
CME Group’s Plan:Further, Schlossberg said that derivative exchangeCME Group Inc.’s(NASDAQ:CME)planto launch Micro Bitcoin futures contracts on its platform in early May could rattle bitcoin’s price even if investors like it or not. The Micro Bitcoin futures will be one-tenth the size of one Bitcoin.
Schlossberg noted that Bitcoin topped out the last time CME launched bitcoin futures in late 2017.
Matt Maley, chief marketing strategist at Miller Tabak, said in the same “Trading Nation” interview that if Bitcoin moves to the downside below $52,000, its going to be a “big warning flag” and give the cryptocurrency its first lower low of the year.
Maley added it Bitcoin breaks above its recent highs of $61,000, it “should see another leg higher.” However, he agreed with Schlossberg that bitcoin is going to see a lot more big declines along its way in a very volatile session.
Read Next:5 Best-Performing Cryptocurrencies Of Q1 (No — Bitcoin, Dogecoin Don't Make The Cut)
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Compass Announces Launch of First Two-Sided Marketplace for Mining to Democratize Bitcoin’s Hashrate by Enabling Everyone to Mine Bitcoin Profitably: The company is consumerizing bitcoin mining by connecting supply and demand through its modern marketplace which has transparency and customer-centricity at its core
NEW YORK, NY / ACCESSWIRE / March 5, 2021 /Compass Mining, the first two-sided bitcoin hosting marketplace, announced it has secured $1.7 million in Seed funding. The round was led by Galaxy Digital, with participation from Coinshares, Coinfund, CoinGecko, Kinetic, Rarestone Capital, CMT Digital, Meltem Demirors, and Zac Prince from Blockfi. The company is committed to democratizing Bitcoin's hashrate and securing the network by enabling everyone to mine Bitcoin profitably.
"In an industry where success is determined by the careful balance of cost, performance, and efficiency, a transparent, customer-centric marketplace provides an ideal solution to connect supply with demand. We are thrilled to see Compass focus on this market and service miners of all sizes." said Amanda Fabiano, head of mining at Galaxy Digital.
Bitcoin mining has fast cemented its position as a lucrative industry, with the global mining industry generating $1 billion in revenue in January 2021. Today, hosting facilities struggle to attract and retain customers. Retail miners struggle to procure machines and identify trustworthy hosting partners. By providing a two-sided marketplace that offers access to machines and aggregates retail demand to provide economies of scale, Compass solves a pain point for both sides of a hosted mining transaction, while providing trust and transparency to market participants and gathering valuable data to dispel popular misconceptions around bitcoin mining.
"Bitcoin is the most important technology to emerge since the internet. It's a medium of exchange, a store of value, and a layer upon which untold future innovation can occur", said Whit Gibbs, Compass Cofounder and CEO. "Without mining, there is no Bitcoin. We launched Compass to ensure that everyone has the access and ability to grow their exposure to this very lucrative industry by owning part of the critical infrastructure supporting the entire blockchain."
The supply side of the market consists of bitcoin mining hosting facilities looking to fill excess capacity, and new and second-hand mining hardware distributors looking to directly access a larger audience. On the demand side are institutional and retail customers searching for trusted parties through which they can acquire bitcoin mining machines and verified facilities where they can access favorable power rates. Compass acts as a technology platform between the supply-side and demand, intermediating transactions between parties and providing hands-on guidance for those new to the industry.
In its first 60 days of operations, Compass has sold $11.4m in mining machines and placed 3.7 Megawatts of customer capacity with hosts. Whit Gibbs, Founder and CEO of Compass Mining, has nearly two decades of leadership and project management experience, working with Hilton Hotels, Aliant Payments, and PuppySpot.com. He started HASHR8 Podcast in 2018, out of a desire to learn more about mining. He has since grown it into the #1 bitcoin mining podcast in the world and leveraged it to establish Compass as one of cryptocurrency's most recognizable mining brands.
Meltem Demirors at CoinShares added "The development of the bitcoin mining ecosystem will mirror the development of the early internet. As the bitcoin industry becomes horizontally integrated along the bitcoin value chain, firms will operate their own mining operations to ensure they have access to the bitcoin network. This is also how the internet peering market and subsequent data center market evolved-firms needed help from experts in building and managing an infrastructure footprint with reliable vendors and third parties. Securing bitcoin compute and connectivity will become a key priority for exchanges, wallets, asset managers and holders of bitcoin."
The new capital will be used to aggressively scale Compass's team and tech to meet market demands while redefining the industry standard for customer service and support.
About Compass Mining
Compass is a bitcoin-first company on a mission to strengthen Bitcoin's network by democratizing hashrate. Compass Mining's marketplace provides easy access for institutions and retail to procure and deploy their own mining operations. Compass also produces an industry-leading podcast and research to educate new and existing bitcoin miners. Bitcoin mining is a notoriously opaque industry, but Compass is there to guide everyone's path to successfully mining bitcoin. Thanks to Compass, it has never been easier to mine bitcoin.
Media contact information:
Compass Mining, Inchttps://compassmining.iomedia@compassmining.io
SOURCE:Compass Mining
View source version on accesswire.com:https://www.accesswire.com/633703/Compass-Announces-Launch-of-First-Two-Sided-Marketplace-for-Mining-to-Democratize-Bitcoins-Hashrate-by-Enabling-Everyone-to-Mine-Bitcoin-Profitably || BlockchainK2 Updates Bitcoin Mining Operations with Standard Power: Vancouver, British Columbia--(Newsfile Corp. - April 15, 2021) - BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (FSE: KRL2) (the "BlockchainK2" or "Company") is pleased to announce an operational update to its existing profit sharing partnership with Standard Power. The operations have been profitably producing Bitcoin with the Company's original generation Bitmain S9 miners since the beginning of operations in July of 2019.
Located in Coshocton, Ohio, Standard Power has existing hosting capacity that allows for 56 MW of power use for operations. The company also has secured a 40 acre site in nearby Conesville, Ohio, with plans to add an additional 160 acres there. This would provide hosting capacity to accommodate cryptocurrency miners with up to 1,000 MW of power use at Standard Power's below-market pricing.
This attractive price allows the Company to have a low Bitcoin mining breakeven price for its miners and provides a robust platform for the Company to grow its Bitcoin mining business. The Company is using its industry reach to identify additional hosting partners to expand its profit sharing partnership with Standard Power.
BlockchainK2 is looking forward to expand its working relationship with Standard Power with industry leading mining hardware.
About BlockchainK2 Corp.
BlockchainK2 Corp. is a holding company investing in blockchain technology solutions for capital markets and other sectors that can be made more efficient through tokenization. The Company owns a gaming platform Amplify Games Inc changing the way video games are distributed and promoted. BlockchainK2 is also invested in RealBlocks, a technology platform for private equity, private credit and real estate that provides tokenized secondary trading of LP interests. The company's wholly owned subsidiary iRecover Inc is working to implement the findings and principles of behaviorism, social neurodevelopment, and behavioral economics in a blockchain based application to support individuals recovering from addiction. The Company also has executed a joint venture agreement with Standard Power, an industrial scale crypto currency mining facility with very low power costs in the United States. For information on BlockchainK2 Corp., please visitwww.blockchaink2.com.
For further information, please contact: Sergei Stetsenko, CEO 604-630-8746
About Standard Power
Standard Power is a leading infrastructure service provider for advanced data processing companies. As part of its Tier III+ data center designs, Standard Power focuses on technologies that support high performance computing and is one of the first to adopt liquid 2-phase immersion cooling technology. Standard Power has developed robust designs and systems to provide large scale blockchain mining infrastructure to its institutional partners.
Please visit:https://standardpwr.com
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.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute "forward-looking statements", including information concerning the intentions, plans and future action of the Company described herein. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of a public company, currently with limited business and financial resources, as well as those risk factors discussed or referred to in the Company's continuous disclosure record available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/80528 || Eccentric Antivirus Mogul John McAfee Accused of Making Millions in Illegal Crypto Schemes: Anthony Kwan/Bloomberg via Getty Eccentric antivirus millionaire John McAfee is facing federal charges again—this time, over a pair of alleged cryptocurrency schemes that allegedly raked in more than $13 million for himself and his accused band of scammers, including his ex-security guard turned CEO. Manhattan federal prosecutors announced Friday that McAfee, 75, was being held in Spain on separate criminal charges by the Department of Justice’s tax division, while authorities cuffed his alleged accomplice, 40-year-old Jimmy Gale Watson Jr., in Texas. It’s the latest problem for the eponymous founder of the antivirus software company. In October, McAfee was indicted for federal tax evasion and willfully failing to file tax returns from 2014 to 2018, and accused of hiding assets including his yacht and real property in the names of other people. At the time, prosecutors in Tennessee claimed he earned millions from promoting cryptocurrencies and even selling his life story for a documentary. Steven Seagal, a Missing Private Eye, and an Alleged Crypto Fraud The new indictment states McAfee, Watson, and other members of McAfee’s “so-called cryptocurrency team” engaged in “scalping,” or a “pump and dump” scheme with the help of McAfee’s Twitter handle @officialmcafee. They face charges including commodities and securities fraud conspiracy, wire fraud conspiracy, wire fraud, and securities and touting fraud conspiracy. According to the feds, McAfee and his team purchased scores of publicly traded altcoins—an alternative to bitcoin—for low market prices, then published false and misleading tweets via McAfee’s Twitter to “artificially inflate” their market price. McAfee and his supposed accomplices then sold their investments collectively for more than $2 million. The fraudsters allegedly scalped at least 12 publicly traded altcoins, which qualify under federal law as commodities or securities. While McAfee and Watson gained “illicit profits,” the indictment adds, the long-term value of the altcoins purchased by investors plummeted “as of a year after the promotional tweets.” Prosecutors say McAfee falsely promised he’d disclose whether he had a big stake in altcoin in his tweets and public statements during the scheme. Story continues In a second scheme, McAfee allegedly championed “initial coin offerings,” without disclosing that the startups behind the fundraising drives were paying McAfee and his team for the promotional tweets with a big chunk of the proceeds raised from investors. The bizarro globe-trotting computer programmer— once suspected in the murder of a neighbor in Belize but never charged—began ramping up his Twitter profile in the years before the two schemes. Many of McAfee’s 784,000 followers were cryptocurrency investors, the indictment claims. In his Twitter bio, McAfee described himself thus: “Iconoclast. Lover of women, adventure and mystery. Founder of McAfee Anti-virus.” His location is pegged as: “Wherever I am.” Possibilities are endless when Free Health Care is a reality. Docademic ICO ends on Sunday, not without monumental success! One of the best ICOs I've seen. Deals in the US, China and Latin America. I hope everyone seriously looked at this ICO. https://t.co/83Rcwudmkx — John McAfee (@officialmcafee) April 14, 2018 While the indictment doesn’t identify the altcoin offerings, McAfee tweeted about multiple ICOs for emerging startups, including a health-care platform called Docademic and the UK-based women-only cab Pink Taxi. “Possibilities are endless when Free Health Care is a reality. Docademic ICO ends on Sunday, not without monumental success! One of the best ICOs I’ve seen,” he tweeted in April 2018. “For the women in crypto: The pinktaxi.io ICO is the first safety coin that helps protect women in male dominated societies. One if [sic] the most promising ICOs since Docademic or Bezop,” McAfee posted in June 2018. The tweet included a video of himself and a woman claiming to be a Pink Taxi investor. For the women in crypto: The https://t.co/nOyoFGVpOc ICO is the first safety coin that helps protect women in male dominated societies. One if the most promising ICOs since Docademic or Bezop. pic.twitter.com/w2qAKuKmEx — John McAfee (@officialmcafee) June 1, 2018 The indictment also names an alleged co-conspirator only revealed as “McAfee Team Member-1,” whom McAfee allegedly directed to buy large quantities of a specific altcoin which he would then endorse on Twitter and sell to reap a profit. Several investors who took the bait lived in the Southern District of New York, where Team Member-1 tried opening an account with a digital asset exchange so McAfee could liquidate his proceeds of the alleged crypto conspiracy. But in January 2018, the cryptocurrency exchange declined Team Member-1’s application, prompting the man to fire off an email identifying himself as an “employee of John McAfee” and threatening to sue over the rejection. Prosecutors say McAfee, Watson, and their helpers also orchestrated a second scheme, using McAfee’s Twitter to promote “initial coin offerings,” or a fundraising method startups use that’s similar to an initial public offering—except investors receive new digital “tokens,” often in exchange for established cryptocurrency like Bitcoin. McAfee’s team should have known federal securities laws required them to disclose any compensation from ICO issuers, the indictment says. Indeed, in November 2017, the U.S. Securities and Exchange Commission specifically warned: “Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion.” The alleged scammers collected more than $11 million in undisclosed compensation, which they made sure to hide from investors. McAfee lived in Lexington, Tennessee, during the alleged scalping and ICO schemes, which occurred from December 2017 to October 2018. For the thousands of you who whine every time I bring a coin or an ICO to your attention: pic.twitter.com/fBtJzNishe — John McAfee (@officialmcafee) February 4, 2018 Watson began working as a private security guard for McAfee in November 2017 and moved into the tech pioneer’s Tennessee home. McAfee would soon promote Watson from guard to “executive advisor” and later to CEO of the McAfee team before he left in October 2018, according to the indictment. In January 2018, McAfee opened an account using his own name at a cryptocurrency exchange in California with assistance from Watson and Watson’s then-wife. McAfee and Watson, according to court papers, had Watson’s former spouse use McAfee’s California exchange account to liquidate proceeds of the ICO touting scheme into millions of dollars of U.S. currency, before wiring more than a million dollars through a New York financial institution and routing it to a bank account registered to McAfee in Tennessee. The feds say in April 2018, McAfee and Watson directed the wife to submit an application online to open an account at a New York exchange so the men could liquidate their ill-gotten cryptocurrency. Beginning tomorrow, I will each day talk about a unique altcoin. Most of the 2,000 coins are trash or scams. I've read every white paper. The few I'm connected to I will tell you. The rest I have no position in. These coins will change the world. You can support that change — John McAfee (@officialmcafee) December 20, 2017 If convicted on all counts, McAfee and Watson face 60 years behind bars. “As alleged, McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception,” said Manhattan U.S. Attorney Audrey Strauss in a statement. “The defendants allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives.” “Investors should be wary of social media endorsements of investment opportunities,” Strauss concluded. Read more at The Daily Beast. Get our top stories in your inbox every day. Sign up now! Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more. || Today’s top deals: Viral $19 gadget from TikTok, Ring Cam sale, $12 LifeStraw, $3.50 smart plugs, $199 standing desk, more: Some of the daily deals we rounded up on Thursday are so good, we can’t even believe they’re real! They are indeed legit though, and they all have one thing in common: None of these deep discounts will last very long, so hurry or you might miss out! Highlights from today’s big roundup include a massive sale on Ring Cams and Ring Cam/Echo Show bundles , the single best-selling portable waterproof speaker on Amazon for just $25.99, super-popular Gosund mini Wi-Fi smart plugs for $3.50 apiece when you use the coupon code SPXNK4C6 at checkout, 32% off Tuff & Co iPhone cases that everyone loves so much, a best-selling compact 2K camera drone that folds up as small as a smartphone for $69.99, a massive $234 discount on the incredible Acer Chromebook Spin 311 convertible touchscreen laptop, the insanely popular LifeStraw personal water filter back down to Black Friday’s $11.98 price for one day only, a big one-day sale on Tribit headphones and Bluetooth speakers starting at $19.99, Amazon’s $50 Fire TV Stick 4K for $39.99, the Roku Premiere with 4K and HDR for under $34, an awesome mirror LED clock that went mega-viral on TikTok for just $18.86, wireless meat thermometers that let you cook perfect steak every time for $38.24 instead of $60, a #1 best-selling waffle maker for just $9.99, our favorite electric standing desk with one-touch height adjustments for only $199, 15% off the Ledger Nano S crypto hardware wallet, 30 off popular cotton bed sheets for one day only, a 5-piece plastic planter set for just $14.44, and more. Scroll through all of today’s best bargains below. OontZ Angle 3 Bluetooth Portable Speaker, Louder Volume, Crystal Clear Stereo Sound, Rich Bass,… OontZ Angle 3 Bluetooth Portable Speaker, Louder Volume, Crystal Clear Stereo Sound, Rich Bass,… Price: $25.99 You Save: $9.00 (26%) Buy Now Smart plug, Gosund Mini Wifi Outlet Works with Alexa, Google Home, No Hub Required, Remote Cont… Smart plug, Gosund Mini Wifi Outlet Works with Alexa, Google Home, No Hub Required, Remote Cont… Price: $13.99 You Save: $14.00 (50%) Coupon Code: SPXNK4C6 (by 4/17) Buy Now Ring Stick Up Cam Battery with Echo Show 5 (Charcoal) Ring Stick Up Cam Battery with Echo Show 5 (Charcoal) Price: $124.99 You Save: $64.99 (34%) Buy Now Story continues Potensic Elfin FPV Drone with 2K Camera for Kids, Optical Flow Positioning, Live Video RC Quadc… Potensic Elfin FPV Drone with 2K Camera for Kids, Optical Flow Positioning, Live Video RC Quadc… Price: $69.99 You Save: $10.00 (13%) Buy Now Clear & Thin Shockproof iPhone Case Price: $14.99 Buy Now Ring Stick Up Cam Battery HD security camera with custom privacy controls, Simple setup, Works… Ring Stick Up Cam Battery HD security camera with custom privacy controls, Simple setup, Works… Price: $84.99 You Save: $15.00 (15%) Buy Now Ring Stick Up Cam Battery 2-Pack with Echo Show 5 (Charcoal) Ring Stick Up Cam Battery 2-Pack with Echo Show 5 (Charcoal) Price: $209.98 You Save: $79.99 (28%) Buy Now Acer Chromebook Spin 311 Convertible Laptop, Intel Celeron N4020, 11.6" HD Touch, 4GB LPDDR4, 3… Acer Chromebook Spin 311 Convertible Laptop, Intel Celeron N4020, 11.6″ HD Touch, 4GB LPDDR4, 3… Price: $265.13 You Save: $233.87 (47%) Buy Now LifeStraw Personal Water Filter for Hiking, Camping, Travel, and Emergency Preparedness, 1 Pack… LifeStraw Personal Water Filter for Hiking, Camping, Travel, and Emergency Preparedness, 1 Pack… Price: $11.98 You Save: $17.97 (60%) Buy Now Fire TV Stick 4K streaming device with Alexa Voice Remote | Dolby Vision | 2018 release Fire TV Stick 4K streaming device with Alexa Voice Remote | Dolby Vision | 2018 release Price: $39.99 You Save: $10.00 (20%) Buy Now Roku Premiere | HD/4K/HDR Streaming Media Player, Simple Remote and Premium HDMI Cable Roku Premiere | HD/4K/HDR Streaming Media Player, Simple Remote and Premium HDMI Cable Price: $33.70 Buy Now Digital Clock Large Display, LED Electric Alarm Clocks Mirror Surface for Makeup with Diming Mo… Digital Clock Large Display, LED Electric Alarm Clocks Mirror Surface for Makeup with Diming Mo… Price: $18.86 You Save: $2.09 (10%) Buy Now Meat Thermometer, ENZOO Wireless Meat Thermometer for Grilling, Ultra Accurate & Fast Digital M… Meat Thermometer, ENZOO Wireless Meat Thermometer for Grilling, Ultra Accurate & Fast Digital M… Price: $38.24 You Save: $21.75 (36%) Buy Now Dash DMW001AQ, Mini Waffle Maker Machine for Individuals, Paninis, Hash Browns, & Other On the… Dash DMW001AQ, Mini Waffle Maker Machine for Individuals, Paninis, Hash Browns, & Other On the… Price: $9.99 You Save: $5.00 (33%) Buy Now Flexispot Standing Desk 48 x 30 Inches Height Adjustable Desk Electric Sit Stand Desk Home Offi… Flexispot Standing Desk 48 x 30 Inches Height Adjustable Desk Electric Sit Stand Desk Home Offi… Price: $199.00 You Save: $50.00 (20%) Buy Now Flexispot EN1 Electric Stand Up Desk Workstation with 48 x 30 Inches Whole-Piece Desktop Ergono… Flexispot EN1 Electric Stand Up Desk Workstation with 48 x 30 Inches Whole-Piece Desktop Ergono… Price: $249.99 You Save: $50.00 (17%) Buy Now Ledger Nano S - The Best Crypto Hardware Wallet - Secure and Manage Your Bitcoin, Ethereum, ERC… Ledger Nano S – The Best Crypto Hardware Wallet – Secure and Manage Your Bitcoin, Ethereum, ERC… Price: $51.00 You Save: $8.99 (15%) Buy Now Anker Wireless Charger, PowerWave Pad Qi-Certified 10W Max for iPhone 12, 12 Mini, 12 Pro Max,… Anker Wireless Charger, PowerWave Pad Qi-Certified 10W Max for iPhone 12, 12 Mini, 12 Pro Max,… Price: $9.34 You Save: $1.65 (15%) Buy Now Anker Power Strip with USB, 5 ft Extension Cord, PowerPort Cube USB with 3 Outlets and 3 USB Po… Anker Power Strip with USB, 5 ft Extension Cord, PowerPort Cube USB with 3 Outlets and 3 USB Po… Price: $16.99 You Save: $7.00 (29%) Buy Now Plastic Planter, HOMENOTE 7/6/5.5/4.8/4.5 Inch Flower Pot Indoor Modern Decorative Plastic Pots… Plastic Planter, HOMENOTE 7/6/5.5/4.8/4.5 Inch Flower Pot Indoor Modern Decorative Plastic Pots… Price: $14.44 You Save: $2.55 (15%) Buy Now BISSELL TurboClean PowerBrush Pet Carpet Cleaner, 2987 BISSELL TurboClean PowerBrush Pet Carpet Cleaner, 2987 Price: $89.99 Buy Now Today's Top Deals This one-of-a-kind kitchen gadget is $37 at Amazon – now I can’t cook without it 5 Amazon best-sellers that keep selling out are finally back in stock today Last chance to get a 2K camera drone that folds up as small as a smartphone for just $70 See the original version of this article on BGR.com || Bitcoin pulls back from brink of $50,000: SINGAPORE, Feb 15 (Reuters) - Cryptocurrencies slid duringAsian trading hours on Monday, with bitcoin dropping more than5%, as investors took profits from a record-breaking rally. Bitcoin fell as much as 5.6% to $45,914 and rivalcryptocurrency ethereum dropped more than 8% to $1,655.Both had hit record highs in recent days as the asset classgains more mainstream acceptance.(Reporting by Tom Westbrook; Editing by Kim Coghill) View comments || Crypto trading on Robinhood spiked to 9.5M customers in first quarter: It’s been a big year for crypto, andRobinhoodshared some stats today providing more evidence that the crypto boom is more than just hype -- at least for now.
In ablog, Christine Brown, Robinhood’s head of crypto operations, revealed that in the first quarter of 2021, 9.5 million of its customers traded crypto via the company’s platform. That’s up big time from the 1.7 million customers who traded crypto in the 2020 fourth quarter. The company first launched its Crypto unit in January of 2018 but hasn't provided numbers in previous quarters.
In February, Robinhoodrevealedit had seen six million new customers on Robinhood Crypto in the first two months of this year alone. That compares to a peak of 401,000 in a single month in 2020, with a monthly average of about 200,000 customers.
Brown says the company’s intent behind launching Robinhood Crypto in the first place was to give its customers the opportunity to buy and sell cryptocurrency in addition to the range of assets offered through its brokerage, Robinhood Financial.
Robinhood Crypto currently offers seven tradeable coins: Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic and Litecoin.
Will fading YOLO sentiment impact Robinhood, Coinbase and other trading platforms?
Brown also noted that Robinhood’s crypto team has already more than tripled since the beginning of the year, although it’s not entirely clear how many staffers it currently has on that team. There are a number of crypto-related openings on its careers site, including an open “Crypto CFO” role.
The company is making clear that crypto is an important part of its overall business and part of its mission to democratize access to the masses.
“All it takes to spend, trade, and store cryptocurrency, theoretically, is an internet connection — you don’t need access to a big line of credit, or startup capital,” Brown wrote. “You don’t even have to be awake at a certain time of day to trade. The crypto market doesn’t close. Crypto was born out of a mission to take power away from institutions and return it to the people.”
Last August, Robinhoodraised $200 million moreat a new, higher $11.2 billion valuation in its third raise of the year before filing togo publicin March. The company has had a tumultuous past year or so that was filled withtime in front of Congress,bad PR from a user’s suicideandsettlements with the SEC.
Robinhood files confidentially to go public
Meanwhile, TechCrunch also reported earlier this week thatin the firstquarter of 2021, American consumer cryptocurrency trading giantCoinbasegrew sharply, generating strong profits at the same time. Specifically, the company notched revenue of $1.8 billion in Q1 2021, up from $585.1 million in Q4 2020. Net income totaled “approximately $730 million to $800 million,” up from $178.8 million in Q4 2020.
This article was updated post-publication with some additional numbers
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-04-05]
BTC Price: 5036.68, BTC RSI: 85.97
Gold Price: 1290.40, Gold RSI: 44.10
Oil Price: 63.08, Oil RSI: 72.85
[Random Sample of News (last 60 days)]
Skeptics lens: Bitcoins fungibility issue: One of the key attributes of money is fungibility. Money is fungible if individual units are essentially interchangeable, each of its parts indistinguishable from any other. But as blockchain analysis companies continue to improve, Bitcoins fungibility is being threatened. Bitcoin is pseudo-anonymous all transactions are recorded on a public ledger. Blockchain analysis companies (Chainalysis, CipherTrace, Elliptic etc.) have gotten very good at de-anonymizing the transactions. They practice the data sharing model where they collect the transactional data from all the businesses they work with. This also means that the more clients they service, the better, or rather the more precise the product gets. Join Genesis now and continue reading, Skeptics lens: Bitcoins fungibility issue ! || 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 . || Cryptocurrency market update: Bullish signals ahead: At the time of writing, it seems the overall cryptocurrency market is maintaining its recent bullish momentum, and most of the top 20 coins are making quite interesting gains. Altcoins like BAT and ADA have been pushing through key resistance levels, much like EOS and LTC have been doing for the past few weeks. I personally believe we’ll see a correction at some point, but as long as the overall trend remains positive, I don’t see a reason for the bullish momentum to break just yet. Let’s delve deeper into what’s been going on. Bitcoin Bitcoin (BTC) has been making some quite interesting moves. Looking at the chart above, we can clearly see it’s on a positive trend, trading above both the 20-day and the 50-day moving averages. As long as price holds above $4,000, I don’t expect this trend to change. Volume-wise, lately we’ve seen buyers holding the fort, as volume is getting greener and greener. My next bullish target is, of course, the 200-day EMA. However, I think we’ll need a few weeks to get there. Ethereum Much like BTC, ETH is holding quite well. The second-largest cryptocurrency led by the wonderkid Vitalik Buterin has been making quite positive strides towards higher prices. At the moment, it is sitting just above $140, near its 50-day EMA. Volume has been increasing positively as well. In other news (which I will discuss in depth in an article later this week), some experts have been saying Binance is now overtaking Ethereum in terms of fundamentals. I beg to differ. While Ethereum’s goal is to be an open source supercomputer, Binance is a closed top-bottom company. Innovation happens at a much slower pace because it is decided within the company and not by the community. If you study organisational theory, you will understand that open source is considerably more beneficial, especially when there is a token associated with your network. My point is that Binance is not replacing Ethereum as a platform for ICOs to launch. Look at the key dimensions that influence a cryptocurrency: security, decentralisation, and scalability. Ethereum has considerably higher standards in all, so why would any coin bother launching on Binance Launchpad? Apart from pump-and-dump and market-making schemes, I personally don’t understand why any coin would. Story continues (Sorry for the rant!) Litecoin Litecoin (LTC) has been making incredible strides upwards and is one of the major winners so far this year. LTC has already crossed all its EMAs and now we’re witnessing the true signal of a proper bull: the 20-day EMA has crossed the 200-day EMA, and the 50-day EMA will soon follow. As the price is sitting around $60, I expect new support levels to appear around $58, where the price is gaining some support from buyers. Volume has increased over the weekend, so we might see LTC continuing to move upwards. EOS Similar to LTC, EOS is also gaining momentum, and its 20-day EMA has already crossed the 50-day EMA. EOS is finding support above the 200-day EMA at around $4.20, and I expect its price to continue moving upwards if nothing changes with the market. However, in terms of volume, EOS hasn’t been showing promising signs, so traders should remain cautious. With thin volumes, pumps and dumps are likely to take place. Stellar Lumens Last but not least, XLM might be preparing for an interesting push upwards. Although sellers have been in control for the last few days, price hasn’t dropped. On the contrary, price has in fact been moving upwards. I therefore expect buyers to regain control soon and push XLM upwards past the 50-day EMA. If XLM is able to find new support around $0.12, we could soon see a run towards the 200-day EMA. Safe trades! The post Cryptocurrency market update: Bullish signals ahead appeared first on Coin Rivet . || 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 || Crypto Perma-Bear Ridicules Rally, Warns Bitcoin Price Will ‘Collapse’: The bitcoin price is going to “collapse” soon despite the latest rally because cryptocurrencies are worthless. That’s the opinion of Peter Mallouk, the president of Kansas investment firm Creative Planning.
“What we’re going to see, most likely is, we’re going to see cryptocurrencies collapse,” Mallouk toldCNBC.
Thebitcoin pricemysteriously spiked on April 1 and climbed above $5,000 for the first time since November 2018.
While cryptocurrency bulls insist this is a sign that theCrypto Winteris officially over, Mallouk urges caution.
Mallouk, a certified financial planner, says investing in bitcoin is a terrible way for young people to build wealth. Why? Because he says there are too many cryptocurrencies and most of them won’t survive.
Besides, crypto is too speculative and risky, he says.
“There’s no way that even a fraction of them can survive. Is it possible that maybe one or two will work out in the future? Sure it is.” || BIG Blockchain Intelligence Group Launches Crypto Fusion Center to Notify and Protect the Market When Thefts Occur: BIG Blockchain Intelligence Group Inc. ("BIG") - a leading developer and provider of cryptocurrency risk-scoring and data analytics tools, training and investigation services - has launched the Crypto Fusion Center (CFC) to maintain and promote the legitimacy of cryptocurrencies while protecting the market as a whole by identifying and isolating crypto-related criminal events as they occur. CFC will be the go-to resource for blacklisted addresses CFC seeks to facilitate global communication between law enforcement, exchanges, financial institutions and regulators CFC will provide easy access to comprehensive tracing software, address risk scoring, and other value added services offered by BIG Vancouver, British Columbia--(Newsfile Corp. - February 19, 2019) - BIG Blockchain Intelligence Group Inc. (CSE: BIGG) (OTC: BBKCF) (WKN: A2JSKG) ("BIG" or "the Company"), a leading developer and provider of cryptocurrency risk-scoring and data analytics tools, training and investigation services - has launched the Crypto Fusion Center (CFC) to serve as a community resource dedicated to fighting the criminal use of cryptocurrencies. The CFC's mission is to maintain and promote the legitimacy of cryptocurrencies while protecting the market as a whole by identifying and isolating criminal events as they occur. The CFC is a direct result of BIG's greater mission of bringing cryptocurrencies mainstream through social responsibility. With the launch of the Crypto Fusion Center, BIG represents the most comprehensive suite of services in the cryptocurrency security space, from compliance to forensic data analytics, professional investigation services, training, and now community-wide awareness and protection regarding illicit cryptocurrency activities. The first and most high-profile hack of a cryptocurrency exchange, Mt. Gox, resulted in the loss of $473 million in cryptocurrency market value. Other significant instances of cryptocurrency theft include Coincheck, DAO, Bitfinex, and more recently, the QuadrigaCX scandal, where the founder, supposedly the only person with access to the Canadian exchange's cold wallets, reportedly died unexpectedly, resulting in loss of access to $190 million worth of cryptocurrencies, though it is now questioned whether the exchange ever had cold wallets in place. All these instances have similarly exposed a major gap in the ability for Law Enforcement, the Financial Sector and Regulators to respond in a timely and coordinated manner, which has undermined the market's collective ability to track, isolate, and recover stolen funds. Story continues With the launch of the Crypto Fusion Center, entities in all sectors will be able to notify major participating exchanges, financial institutions, and law enforcement agencies in a timely manner when cryptocurrency thefts occur. The Crypto Fusion Center will be the go-to resource for learning exactly which blacklisted addresses to be on the lookout for, which will facilitate preventing would-be hackers from using an unsuspecting exchange to liquidate their proceeds following a successful hack. In turn, the CFC aims to decrease the criminal element's motivation to hack cryptocurrency exchanges by removing the ability to quickly liquidate their illicit proceeds through other exchanges. The community will be able to defend itself and others through cooperation, communication and collaboration. BIG's Director of Forensics and Investigations, Robert Whitaker, led the development of the Crypto Fusion Center. Robert commented: "As a former Supervisory Special Agent with Homeland Security Investigations, I know the effectiveness and reach that can be realized through coordinated effort toward the security and protection of law abiding individuals and entities. That's why we are extending a standing invitation to cryptocurrency exchanges, law enforcement agencies, financial institutions, regulators, and any other entities to become members of the CFC community. If you want to protect yourself and your colleagues from preventable illicit activities involving cryptocurrency, we look forward to building this community with your support. Together we can stop these attacks before they start or, at the very least, mitigate their impact." The Crypto Fusion Center is designed to offer several solutions: A comprehensive Point of Contact database to include exchange compliance officers and International, federal, state and local law enforcement personnel using the CFC's in-service communication manager, which will not reveal direct contact information. An address alert feed via API that provides real-time blacklist updates for addresses from participating members. Involvement of law enforcement at an early stage in cryptocurrency thefts and hacks. Facilitating much-needed communication worldwide between law enforcement, exchanges, financial institutions and regulatory persons involved in the cryptocurrency space to freeze stolen funds. Easy access to comprehensive tracing software and services offered by BIG Blockchain Intelligence Group. Entities interested in learning more about the Crypto Fusion Center, or considering participating in the community, can contact BIG's Director of Forensics and Investigations, Robert Whitaker, by email at Robert.Whitaker@blockchaingroup.io . In other news, BIG's proprietary forensic cryptocurrency investigation platform, QLUE TM , now provides supports for Ethereum (ETH), and the Company has launched a new website designed to communicate our services in a more cohesive manner and through a style that is unique to BIG's updated branding. To learn more, visit https://blockchaingroup.io/ . On behalf of the Board, Lance Morginn Chief Executive Officer About BIG Blockchain Intelligence Group Inc. BIG Blockchain Intelligence Group Inc. (BIG) brings security and accountability to the new era of cryptocurrency. BIG has developed from the ground up a Blockchain-agnostic search and analytics engine, QLUE TM , enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually trace, track and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a "risk score" for cryptocurrency, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements. Our Forensic Services Division brings our team of investigative experts into action for cryptocurrency investigations that require in-depth expertise and experience, either in conjunction with or supplemental to our user-friendly search, risk-scoring and data analytics tools. Based on industry demand, we created our Cryptocurrency Training Academy ( www.CryptoInvestigatorTraining.com ) to help Law Enforcement, the Financial Sector and Regulators learn how to bring security and accountability to cryptocurrency; our Cryptocurrency Investigator Certification Course is a one-stop solution to understanding the world of cryptocurrency, how to reduce associated risk, and investigate cryptocurrency crime. About BitRank Verified ® BIG developed BitRank Verified® to be the industry gold standard in ranking and verifying cryptocurrency transactions. BitRank Verified® offers the financial world a simple risk score, enabling consumer-facing bank tellers, exchanges, eCommerce sites and retailers to know whether a proposed transaction is safe to accept, questionable, or should be denied. BitRank Verified® and its API are custom tailored to provide the RegTech sector with a reliable tool for meeting their regulatory requirements while mitigating the risk of money laundering or other criminal activities. About QLUE TM QLUE (Qualitative Law Enforcement Unified Edge) enables Law Enforcement, RegTech, Regulators and Government Agencies to literally "follow the virtual money". QLUE incorporates advanced techniques and unique search algorithms to detect suspicious activity within cryptocurrency transactions (Bitcoin, Ethereum), enabling investigators to quickly and visually trace, track and monitor transactions in their fight against terrorist financing, human trafficking, drug trafficking, weapons trafficking, child pornography, corruption, bribery, money laundering, and other cyber crimes. About Our Expert Training We offer custom on-site and 24/7 online training, enabling Law Enforcement, the Financial Sector and Regulators to understand cryptocurrency risk and successfully investigate suspicious activity. Our in-person, on-site training solutions are designed to fit our clients' scheduling, location and learning needs. Through our online Cryptocurrency Training Academy ( www.CryptoInvestigatorTraining.com ), clients can take our Cryptocurrency Investigator Certification Course to earn their Certified Cryptocurrency Investigator credential from BIG to validate their new knowledge. About Our Forensic Services Division Our Forensic Services Division provides Law Enforcement, Financial institutions and Regulators with expert support to help trace, track and monitor illicit activity involving cryptocurrencies. Our services range from quick and simple due diligence case reviews, to providing in-depth forensic support for ongoing investigations, and providing expert witness testimony from unbiased third-party investigators. BIG Investor Relations Anthony Zelen D: +1-778-819-8705 email: anthony@blockchaingroup.io For more information and to register to BIG's mailing list, please visit our website at https://www.blockchaingroup.io/ . Follow @blocksearch on Twitter . Or visit SEDAR at www.sedar.com . Forward-Looking Statements: Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIG's expectations include, consumer sentiment towards BIG's products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. Corporate Logo To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42898 || Why it’s High Time for Millennial Crypto Investors to Go All-in on Bitcoin: One of the world’s most prominent cryptocurrency investors has thrown even more weight behind bitcoin, claiming virtually all other cryptocurrencies will die a painful death. Barry Silbert, CEO ofDigital Currency Groupand Grayscale Investments, says the flagship cryptocurrency has already won the race to become digital gold.
In a phone interview withCNBC, Silbert, who reportedly bought into bitcoin at $10, explained:
“I’m not a believer in the vast majority of digital tokens and believe most will go to zero… As far as I’m concerned bitcoin has won the race to be digital gold.”
Is it time to pull money out of altcoins and go all-in onbitcoin?
Read the full story onCCN.com. || Most Top Cryptos See Minor Losses as Bitcoin Hovers Over $3,850: Sunday, March 3 — the top 20cryptocurrenciesare reporting minor losses on the day to press time. Bitcoin (BTC) is hovering just over the $3,850 mark again, according toCoin360data.
Market visualization fromCoin360
At press time, Bitcoin is down a fraction of a percent on the day, trading at around$3,853, according to CoinMarketCap data. Looking at its weekly chart, the current price is nearly half of a percent lower than $3,870, the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source:CoinMarketCap
The day before yesterday, blockchain development companyBlockstreamreleaseda new version of its Bitcoin (BTC)scalabilitysolution, c-lightning.
Ethereum (ETH) is holding its position as the largest altcoin by market cap, which by press time is over $14 billion. The second-largest altcoin, Ripple (XRP), has a market cap of just under $13 billion by press time.
ETH is down by0.64 percentover the last 24 hours, according to CoinMarketCap. At press time, ETH is trading around $133, after having started the day one dollar higher. On its weekly chart, Ethereum has seen its value decrease by about 7.5 percent from $143, the price at which the coin started the week.
Ethereum 7-day price chart. Source:CoinMarketCap
As Cointelegraphreportedearlier today, Ethereum co-founderVitalik Buterinhas stated he was trying to solve Bitcoin’s limited functionality with the creation of Ethereum.
Ripple has lost nearly one percent in the 24 hours to press time and is currently trading at around$0.312. On its weekly chart, the coin gained almost two percent from $0.306, the price at which XRP started the week.
Ripple 7-day price chart. Source:CoinMarketCap
On March 1,news brokethat an ongoing securities lawsuit against payment startupRipplefor the sale of unregistered securities will stay in federal court, per a recent ruling.
Among the top 20 cryptocurrencies, the only ones experiencing gains on the day are EOS (EOS), Maker (MKR), Monero (XMR), Binance Coin (BNB) and Stellar (XLM), but all of those report under one percent growth.
Thetotal market capitalizationof all cryptocurrencies currently amounts to about $129.9 billion — which is nearly a quarter of a percent less than $140.6 billion, the value reported one week ago.
Total market capitalization 7-day chart. Source:CoinMarketCap
As Cointelegraph reported, theUnited StatesFederal Reserveisconsideringthe inclusion of this year’s Bitcoin market collapse as one of the salient risks to be taken into account for its supervisory stress tests.
• Crypto Markets See Major Losses, While Stocks Rise as US-China Talks Expected to End
• Bitcoin Approaches $3,900 as Crypto Markets Stabilize, Stock Market Slightly Down
• Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down
• Bitcoin Hits $4K for the Fourth Time in 2019, Stocks Jump Amid US–China Trade Talks || How to buy cryptocurrency with USD: If you find yourself constantly wondering how to buy cryptocurrency with USD, then don’t worry. By the end of this article, you will know exactly where to go and what to do. Before you start thinking about how to buy cryptocurrencies, you will need to choose which digital asset you want to invest in. Websites such as CoinMarketCap and Investing.com will give you a list of the top-100 cryptocurrencies by market capitalisation and how much they are currently trading for against USD. Chosen your cryptocurrency? Great! Now it’s time to buy. Exchanges are the easiest and safest way to buy cryptocurrencies with your fiat currency. Exchanges are online platforms that allow users to buy and trade cryptocurrencies with fiat currencies. These exchanges will either take a commission or simply charge usage fees for their service. Here are some of the most popular and trusted exchanges you can use to buy crypto. Coinbase One of the most popular exchanges for trading cryptocurrency is Coinbase . The online exchange offers two services: Coinbase for beginners and Coinbase Pro (formerly GDAX) for more seasoned traders. The beginner’s version of Coinbase is the most commonly downloaded version and has around 20 million users. The Coinbase app – available on iOS and Android – offers several services, including cryptocurrency storage. Coinbase supports Bitcoin, Bitcoin Cash, Ethereum, and Litecoin to name just a few. It also allows users to instantly buy and sell their crypto by using a combination of bank accounts, credit cards, debit cards, and PayPal. To aid with trading, the Coinbase app tracks the prices of cryptocurrencies through charts and a price ticker, giving users the option to receive alerts during price movements. Binance The Hong Kong-based exchange Binance is an industry leader in terms of user count and trading volume. With a range of around 390 cryptocurrency pairs, Binance caters to retail investors looking to invest in smaller market cap projects as well as professional traders who wish to utilise its slick UI and trading tools. Story continues Despite not being around for as long as Coinbase, it’s a competitive exchange that’s attracting a lot of users. With low trading fees and discounts that stem from its own ERC-20 token dubbed Binance Coin (BNB), users can benefit from a cost-effective and transparent service for digital assets. Like Coinbase, the Binance mobile app allows users to keep tabs on the leading cryptocurrencies and watch their performances. Users can also respond to sudden price movements around the clock, with the ability to deposit, trade, and withdraw their cryptocurrency anywhere at any time. Kraken The Kraken cryptocurrency exchange is amongst the oldest and most popular cryptocurrency exchanges currently open. Residents of the US, Canada, Japan, and parts of Europe are able to trade on the platform. Registering with Kraken is essentially the exact same process as registering with other exchanges. Almost all exchanges require users to complete ‘Know-Your-Customer’ (KYC) and ‘Anti-Money Laundering’ (AML) checks. The checks have become increasingly common, and for good reason. They assess a customer’s likelihood of committing illicit acts such as money laundering. If you are a beginner, Kraken offers a basic user interface alongside detailed documentation to help you become acquainted with the platform. There are also charts provided to assist more seasoned traders with visualising trends. LocalBitcoins.com Another way to buy cryptocurrencies is with the online advertisement platform LocalBitcoins.com. This website allows buyers and sellers to meet online. It is a peer-to-peer cryptocurrency exchange network designed to provide digital currency investors with a simple solution to share money with others in a decentralised manner. The platform allows people from different countries to exchange local currencies into Bitcoin. The company’s mission is straightforward: to allow the general public the ability to buy and sell crypto in a simple manner. LocalBitcoins’ goal is to bring Bitcoin to every country, person, and device globally. To become a member and user of LocalBitcoins, all you have to do is enter your email and go through the verification process. This makes it very easy for first-time traders to sign up and start using the platform. With this in mind, the community it provides is also a great way for beginners to learn from other traders. Warning Now that you have bought your first digital currency, what next? It is important you do not invest blindly. If you want to become an investor and hold your crypto for longer periods, then make sure you have a trusted, well-known wallet where you can store your tokens. This is a safer option than keeping them on an online exchange or an online website due to the number of hackers there are. If this article has helped you, then check out our guides covering different wallets and what you need to know about them. The post How to buy cryptocurrency with USD appeared first on Coin Rivet . || Op Ed: How Bitcoin’s Protocol of Peace Can End the Nuclear Age: Since it came to life in early 2009, Bitcoin has begun disrupting the world of finance. Over the years, this decentralized digital currency came to mean different things for different people. For some, it presented opportunities for prosperity, becoming the best performing asset in their portfolio. For others, this peer-to-peer cash for the internet represents a non-confiscatable digital gold that could enable financial sovereignty. For those who are concerned about civil liberty, Bitcoin’s censorship resistance and permissionlessness define it as free speech money. “Yellow Vest” protesters occupying in the streets of Parisfoundallies in this rebel crypto that promises to end the tyranny of central banks.
As Bitcoinreachedits 10-year anniversary last month, this breakthrough of computer science now further reveals its value proposition. Perhaps the fundamental ethos of this technology is hidden in the mystery surrounding the identity of its creator, the pseudonymous Satoshi Nakamoto. The genesis of Bitcoin is rooted in anonymity.
Behind the mask of this Japanese character, a deeper vision of Bitcoin is found in the story of Japan, the first and only nation to experience the horror of nuclear weapons. The devastation that this country went through at the end of the World War II teaches us consequences of war and calls for people to come together for peace. This commitment to peace is embodied in Japan’s pacifist constitution, with its notableArticle 9clause that renounces war as a means to solve conflicts.
In our contemporary post-Cold War world, this enshrinement of peace has shown itself to be vulnerable to international and domestic pressures to destroy it. In recent years, as North Korea’s repeated missile tests threaten stability in the Pacific region, there has beena pushtoward Japan’s remilitarization.
Now, from the internet, Satoshi, a representative cultural survivor of atomic bombs, brings to humanity a means to secure this peace, opening a new path for us to never repeat the tragedy of the past.
The weakness of the Japanese peace constitution is found in its foundation. Article 9 of Japan’s renunciation of the sovereign right of war is part of the constitution that was imposed by General MacArthur after the United States defeated Japan’s imperialism in 1945. The integrity of this model of governance called “democracy” that Japan adopted after its surrender relies on the U.S.–Japan security alliance thatplacedJapan under the umbrella of U.S. protection.
The security and stability of this system is backed by a monopoly of violence. Its nucleus was developed during WWII by physicists working on the Manhattan Project and by the establishment of a large, armed industry that has now morphed into the military industrial complex.
With creation of nuclear weapons, humanity tried to outdo the force of nature, unleashing power that could bring total annihilation of life on the planet. Around this elusive power, those who are driven by an urge for domination have created a network of security to protect their private interests. The global security state has established a secret law that violates our fundamental right to life: the right not to be vaporized or eradicated by warfare.
By using the threat of weapons of mass destruction, transnational corporations engage in conquest of territory. They control world resources, with central banks printing money out of thin air andweaponizinglarge financial institutions like the International Monetary Fund and the World Bank. The superpower state has caused the entire world to fear an uncontrolled fission chain reaction in order to keep all nations under the thumb of its military command, imposing petrodollar hegemony. Armies of economists, legislators and regulators apply pressure to maintain monopoly of the market, putting sanctions, trade embargoes and blockades against those who challenge the legitimacy of the corporate state.
Now, in this digital age, man’s subversion of nature has come online, forming patronage networks that act like one giant computer. The internet has been effectively militarized with the penetration of intelligence agencies andthe CIA cyber weapon, along with giant tech companies engaging in censorship. This occupation of cyberspace is maintained by private paying processing companies like Visa, PayPal and Mastercard controlling the flow of money, freezing assets and restricting transactions.
Bitcoin offers an alternative to this universal security system backed by men with guns. It creates a new model of security based on cryptographic proof that can resist unlimited applications of violence, making a bulletproof network.
Bitcoin is free software where users control the programs. Everyone can read, study and participate in the development of its code. Bitcoin is developed and stewarded by a group of cypherpunks. They are a new wave of scientists who take up moral obligations to shift the balance of power and to help individuals counter illegitimate authority derived from violence.
Cypherpunks don’t conquer nature. They liberate wisdom inherent in nature by keeping its source code open. Cypherpunks write code. They try to preserve a repository of scientific knowledge that belongs to humankind and build applications that benefit all. By using cryptography for social change, they challenge a model of governance that fuels wars of aggression and surveillance capitalism. Through designing a new security based on mathematics, they aim to make the subversive state secret law obsolete.
Bitcoin’s core consensus algorithm is an innovation that is created through application of laws of nature. Satoshifoundthe force that governs nature manifested in the law of physics, specifically thermodynamics — principles concerning heat, temperature and their relation to energy. Combining this understanding of natural law with the knowledge that human nature contains the paradox of man being selfish as well as being altruistic, the creator of Bitcoin found a way to coordinate human actions to build economies of scale.
Tech entrepreneur and author Andreas Antonopoulosacknowledgedhow Satoshi not only invented a new currency, but also gave us the world’s first perfect market. He described how bitcoin mining is built around a valuable currency and using it as a token of reward, engages miners in a broadcast math competition known as “proof of work.”
Working with careful balance of risk and reward, in combination with game theory, Satoshi created a new economic incentive that makes miners work honestly and enforces rules of the network without applying pressure. This process leads to both the creation of money and clearing of transactions. Most importantly, it enables unprecedented security backed by laws of nature.
Nature does not create waste. The market that dynamically adjusts according to a demand with a tight feedback loop every two weeks engages miners to strive for high efficiency in a brutally competitive environment. It channels misused forces of nature in the arms race and redirects energy into building a global security.
The law of nature that is now restored in Bitcoin’s noble architecture commands the industrial hardware manufacturers to challenge the military industrial complex. The computing power of specialized hardware, through a method of decentralization, re-networks the supercomputer of the old world. Power that is now redistributed begins to free people who are enslaved by the proprietary software of nuclear programs and state-sponsored terrorism.
Bitcoin mining, largelydrivenby renewable energy, counters energies that are used to maintain the existing security state that creates overconsumption, pollution and environmental destruction. This newly created network can now start to transform the death-spiraling war economy into a resilient, asset-based ecosystem.
The way of peace is in harmony with nature. It is a society that acknowledges interconnectedness of all living beings and their freedom of expression. It embraces the equality of all creation in its diversity and solves conflicts through nonviolent means.
Now, from what was once the land of the rising sun, from the ashes of Hiroshima and Nagasaki, a protocol of peace arises. Bitcoin is a new sun, ascending to replace the explosive nuclear power. This sun radiates through the heat generated through the heart of liberty-loving people around the world. With algorithmic regulation, it expands every 10 minutes without ever exploding, circulating an abundant flow of life to all directions across the network.
Can this cryptocurrency preserve the value of peace and defend against mighty swords, missiles, tanks and atomic bombs? The security of this system cannot be given from outside — by governments, institutions, politicians and even by cypherpunks. It can only be guaranteed through sovereign individuals across the world freely choosing to adopt this protocol of peace, a way of nonviolence as a new code of conduct for the world they wish to live in. Peace can be ensured through a decentralized network created by users running full nodes and enforcing consensus rules as a universal law of nature.
In a piece of mathematics, we can now enshrine a constitution of peace that can act as a truly neutral arbitrator to settle conflicts and disputes among people. This new sort of security can guard our children and a future generation from resource wars. It can shelter people against currency wars and wealth confiscation, protecting the planet from ecological destruction. Through each individual upholding this networked constitution powered by this sublime golden sun, we could end the nuclear age and leave humanity’s destructive past behind.
This is a guest post by Nozomi Hayase. Views expressed are her own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.
This article originally appeared onBitcoin Magazine.
[Random Sample of Social Media Buzz (last 60 days)]
Our Beta Testing #platform has been live for just 1 week and we’ve had 4 Million $$$ of #revenue traffic through it 🤷🏻♂️ Are you gonna miss out? #TRO #BTC #LTC #ETH #TREOS #CRYTPO #Marketplace #Economy #Investing #Finance #Amazon #Rbay https://t.co/Zsioj4iJqJ || Mar 10, 2019 06:32:00 UTC | 3,919.00$ | 3,488.30€ | 3,010.70£ | #Bitcoin #btc pic.twitter.com/lhO3eRbMQY || #Bitcoin $3,884.21 v #BitcoinCash $276.94 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.43 v #BitcoinCash ~$0.00 - 2019/03/14 03:00JST || #Bitcoin $3,722.91 v #BitcoinCash $265.44 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.23 v #BitcoinCash ~$0.00 - 2019/03/05 08:00JST || Here's why I do not like the Lightning Network as a general scaling solution. The routing leads to a topology requiring "hubs" to function. "Hubs" will become chokepoints. LN is a great efficiency tech. but not a silver bullet. Bitcoin needs to raise its block size limit. https://t.co/scayJCQEqr || Entry Level Tech Recruiter - Jobspring Partners ( Los Angeles, CA, USA ) - [ 📋 More Info https://t.co/ALQI0SBwbb ] #tech #jobs #Hiring #Careers #LosAngeles #CA #Cryptocurrency #Blockchain #BTC #BitCoin #ETH #crypto https://t.co/ejB0rlViWG || 現在の1ビットコインあたりの値段は424,107.3238円です。値段の取得日時はFeb 26, 2019 14:02:00 UTCです #bitcoin #ビットコイン || Nous sommes #1 dans le pool pour le @BitcoinEssence. Sur miningpoolstats : https://t.co/UUSwOHy5Pk. Allez miner ! !! Allez sur : https://t.co/tMNjlelfBe #bitcoin #fork #scrypt #pool #miner #asic https://t.co/qz7hr6Voh9 || #CRYPTO 24H VOLUME
$USDT -0.14% [$1.00, Vol: 1,240,162.59 BTC]
$ETH +0.89% [$123.36, Vol: 800,986.01 BTC]
$LTC +2.51% [$43.67, Vol: 280,443.82 BTC]
$EOS +1.09% [$2.82, Vol: 207,036.85 BTC]
$XRP +0.20% [$0.30, Vol: 104,250.93 BTC]
$ETC -0.49% [$4.09, Vol: 57,771.66 BTC] || We will perform maintenance on Monday, March 11 from 3:00 to 5:00 AM (JST). During maintenance, bitFlyer Lightning (including API) and the Bitcoin Exchange will be unavailable. Some virtual currency deposit and withdrawal services may face delays in processing.
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Trend: no change || Prices: 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-09-28]
BTC Price: 10709.65, BTC RSI: 48.68
Gold Price: 1872.80, Gold RSI: 39.79
Oil Price: 40.60, Oil RSI: 51.98
[Random Sample of News (last 60 days)]
Ethereum Classics Terrible, Horrible, No Good, Very Bad Week: Ethereum Classic developers were still licking fresh wounds late last week when yet another 51% attack was launched against their blockchain early Thursday morning. And as the bits settle, the proof-of-work blockchains future remains in question more than ever. The first attack occurred on Aug. 1, the networks second ever . Five days later, a second 51% attack followed the news that the first had indeed seen a successful double-spend of $5.6 million worth of ETC . Related: Read more: Ethereum Classic Suffers Reorganization That Resembles 51% Attack Amid Miner Complications The second attack was perhaps more important, although smaller in monetary terms ($1.68 million). By striking twice, the attacker proved the blockchain has seemingly no ability to protect itself from meaningful exploits. A 51% attack on a blockchain refers to a miner or a group of miners trying to control more than 50% of a networks mining power, computing power or hash rate. Proof of work and immutability Ethereum is a hard fork of Ethereum Classic. The two chains split in 2016 in a disagreement over the value of immutability following a compromised smart contract, The DAO , causing a blockchain rollback. Related: Ethereum Classic Attacker Successfully Double-Spends $1.68M in Second Attack: Report At that time, Ethereum Classic developers decided to eat the attacks losses. The majority of Ethereums leadership and hashing power did not and hard forked under the ETH ticker. Four years later, Ethereum Classic has continued to operate in the shadow of Vitalik Buterins Ethereum. The smaller chains last few hard forks have all but copy and pasted Ethereums work. Yet, the project has differentiated itself on one point: a commitment to the Proof-of-Work (PoW) consensus algorithm used by Bitcoin. Ethereum, on the other hand, has slowly moved toward the novel Proof-of-Stake (PoS) under the Ethereum 2.0 project. Story continues Read more: Hard Fork Sets Stage for Ethereum Classics Second Major Departure From Ethereum That technical decision is under heightened pressure. PoW coins with low hashing power are liable to being 51% attacked. And Ethereum Classic seems unable to do anything about it for the time being. Exchanges and Grayscale When the network will be secure remains unknown. So, Ethereum Classic developers have encouraged exchanges to increase transaction confirmation times. This protects against spreading the double-spent ETC. We have taken down ETC since the attacks. We dont plan to open it back up until the ETC network is deemed safe, an undisclosed Binance security team member told CoinDesk in an email through spokesperson Jessica Jung. Coinbase also increased the confirmation times for Ethereum Classic deposits to two weeks, the exchange said in Tweet . Interestingly, ETCs price was down only 5% on the week by Friday, according to Messari . One possible reason is crypto financial giant Grayscales stance on the matter. The firm holds 10% of all ETC supply via its regulated trust product. Were continuing to monitor recent events and any steps the ETC network may take in response. But its important to note that events like this do not impact the security of the assets underlying our products, Grayscale Investments Managing Director Michael Sonnenshein told CoinDesk in an email. Grayscale, like CoinDesk, is a unit of Digital Currency Group. Read more: Grayscale to Fund Ethereum Classic Developers for 2 More Years On the other hand, Messari research analyst Wilson Withiam told CoinDesk that ETCs price like many cryptossets is broken from the assets fundamentals. ETC tends to follow the general market. Crypto enthusiasm is hot right now, so ETCs price remaining afloat could be more related to current market sentiment, Withiam said. Next steps for Ethereum Classic 51% attacks are the reality low-cap cryptocurrencies live in, ETC Coop Executive Director Bob Summerwill told CoinDesk in an interview Aug. 3. If you are in a minority hash position, then you are in this position, Summerwill said, referring to the first 51% attack. Following the second attack, Summerwill told CoinDesk in a private message that all hands are on deck and that both immediate, mid-term and long-term emergency actions are being considered. One option is an emergency hard fork to a different hashing algorithm. The network currently uses the Ethash algorithm also used by Ethereum. Developers hope a technical tweak could throw off future attacks. Ethereum Classic is exploring alternative mining algorithms, specifically replacing Ethash with SHA-3, which could help mitigate any further attacks. But until that transition happens, Ethereum Classic will remain vulnerable, Wilson said. Legal counters ETC Labs, the firm behind the Core-Geth client, is pursuing criminal charges against the attacker. To that end, ETC Labs has hired blockchain law firm Kobre & Kim and analytics business CipherTrace. We want to ensure that there are severe consequences for manipulating a public blockchain to steal. We are determined to protect the integrity of the ecosystem, ETC Labs CEO Terry Culver said in a press release . Some have pointed out the oddity of a blockchain ecosystem turning to businesses with real-world addresses for security. Others, such as Geth team leader Peter Szilágyi, say its unlikely to lead to any security changes as the network simply needs more hashing power. Essentially, ETCs security was broken down completely to zero, Szilágyi said in the Ethereum core developers call Friday morning. The actual damage is that you have an entity who can always mine whatever block and can always force itself on the network. Yet, Ethereum Classic developers remain determined. We are still steadfast in our resolve to do everything we can right now to ensure the ETC network and community are as secure as possible. Nothing has changed about that, Culver said in an email to CoinDesk. Related Stories Ethereum Classics Terrible, Horrible, No Good, Very Bad Week Ethereum Classics Terrible, Horrible, No Good, Very Bad Week || Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400: Bitcoin’s price continues to move up, with a little help from the U.S. Federal Reserve, while ether traders are hedging in the options market. Bitcoin (BTC) trading around $10,979 as of 20:00 UTC (4 p.m. ET). Gaining 2% over the previous 24 hours. Bitcoin’s 24-hour range: $10,662-$11,099 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin hit as high as $11,099 on exchanges such as Coinbase Wednesday after the U.S. Federal Reserve announced it was keeping interest rates near zero until maximum employment is achieved. The price lost steam to $10,979 as of press time, however. Read More: Federal Reserve Now Targets Inflation Above 2%, Bitcoin Breaks $11K Related: First Mover: Federal Reserve Does What It Wants to Do as Bitcoin Hits $11K “Buyers have already reached $11,000 per BTC. We expect an increase to $11,200, and then a test of $11,500,” said Constantine Kogan, partner at crypto fund of funds BitBull Capital. Read More: This Crypto Startup Takes Bitcoin Advocacy to a Whole New Level At least one stakeholder remains wary until there is more buying volume in the bitcoin market, however. “Personally I think we need to see sizable purchase volume above $12,000 to really get this moving, otherwise I would tend to expect some more consolidation over the next few weeks,” said Neil Van Huis, director of institutional trading at liquidity provider Blockfills. The last time bitcoin hit $12,000 was back on Sept. 1. Bitcoin mining could play a role in near-term market movements, added Van Huis. “If BTC prices are higher, miners may look to capitalize on it by selling to raise cash,” he said. The mining difficulty adjustment, expected on Sept. 19, is anticipated to trend higher since hashpower has been hitting record highs this week. That means older mining machines will be replaced with newer models in order for some operations to compete. Story continues Related: Bitcoin Falls Back Below $11K as Markets Doubt Fed's Ability to Boost Inflation “Miners would essentially be speculating on whether it would be more profitable to just let their bitcoin holdings ride because they can’t get access to equipment, or sell BTC to raise cash for equipment to mine more efficiently going forward,” added Van Huis. Italian over-the-counter trader Alessandro Andreotti pointed to the amount of bitcoin locked in decentralized finance, which crossed the 100,000 BTC mark this week , as a bullish sign for the world’s oldest cryptocurrency. “I think it is a great milestone for decentralized finance as a whole, showing how much potential it has and how many investors believe in it,” Andreotti said. “These are exciting times.” Read More: Bakkt Bitcoin Futures Daily Trading Volume Hits Record High Ether options bet below $400 Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Wednesday trading around $365 and climbing 0.28% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: SEC Commissioner Peirce Says Unikrn-Killing Fine to Have Chilling Effect Ether options traders remain biased toward spot prices below $400. While 36% expect ether to be over $380, only 22% of options bets expect ether over $400 next week at the Sept. 25 expiration. William Purdy, an options trader and founder of analysis firm PurdyAlerts, said that ether’s implied volatility, the forecast of its price movements, has been higher than realized volatility, a measure of price movements from past behavior, since July. As option prices are based on implied volatility, he sees an opportunity in shorting ether options. “The implied volatility is priced at a premium to historical volatility as ether investors are looking for downside price protection from future unfortunate events,” said Purdy. “This protection cost is often overestimated by the market and can be taken advantage of by selling options.” Other markets Digital assets on the CoinDesk 20 are mixed, mostly in the red Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): basic attention token (BAT) + 3.7% stellar (XLM) + 1.5% dogecoin (DOGE) + 0.73% Read More: Ava Labs Sets Avalanche Mainnet Launch for Sept. 21 Notable losers as of 20:00 UTC (4:00 p.m. ET): tron (TRX) – 6.8% nem (XEM) – 5.6% chainlink (LINK) – 4% Read More: Polkadot Projects Will Be Able to Mint Their Own Tokens in 2021 Equities: Asia’s Nikkei 225 ended the day flat, in the green 0.09% as investors mostly sat on the sidelines ahead of the U.S. Fed’s monthly meeting . Europe’s FTSE 100 closed in the red 0.44% as concerns about coronavirus and concern about the looming Federal Reserve announcement dragged on the index . The United States’ S&P 500 slipped 0.46% as major tech companies dropped, including Facebook falling 3.3% and Apple dipping 2.5% . Read More: Diginex Moves Closer to Backdoor Nasdaq Listing With Merger Approval Commodities: Oil is up 4.4%. Price per barrel of West Texas Intermediate crude: $40.09 Gold was in the green 0.27% and at $1,958 as of press time. Read More: Kraken Becomes First Crypto Exchange to Become a US Bank Treasurys: U.S. Treasury bond yields were mixed Wednesday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 8%. Read More: Bahamas to Roll Out ‘Sand Dollar’ Digital Currency Next Month Related Stories Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400 Market Wrap: With Fed Rate Policy Unchanged, Bitcoin Passes $11K; Ether Options Bet on Price Below $400 || DraftKings Breaks Out To New High: DraftKings Inc. (DKNG) broke out above the June high at 44.79 on Monday, lifting to an all-time high just below 50. A measured move target in the low 60s looks conservative for the rapidly-growing company, with persistent buying volume underpinning the upside. The successful launch of the new National Football League season over the weekend is adding to bullishness that’s been solid as a rock due to continued isolation as a result of the pandemic. DraftKings Legitimizes Sports Betting Many U.S. states don’t allow sports betting but are expected to jump on board due to the wildly-successful fantasy portal, which has legitimized this once-questionable activity. The stock has booked stronger-than-expected returns so far this year, given the closure of major sports venues and re-start issues that have generated outbreaks among athletes and staff. The weekend’s NFL games may have finally turned the tide to optimism, even though most stadiums aren’t permitting live spectators. The Benchmark Company analyst Mike Hickey raised their target from $45 to $57 on Tuesday, noting that DraftKings had just “announced a new deal with ESPN to be the co-exclusive sportsbook link-out provider. Prior brand building deals included Michael Jordan and the Chicago Cubs, all of which are elevating the brand and further legitimizing sports betting. We believe the virus influence will also provide a significant boost to player engagement in Q3.” Wall Street And Technical Outlook Wall Street consensus is positive but somewhat cautious, with a ‘Moderate Buy’ rating based upon 10 ‘Buy’ and 5 ‘Hold’ recommendations. No analysts are recommending that shareholders sell positions at this time. Price targets currently range from a low of $34 to a street-high $60 while the stock is now trading just below the $50 median target. These projections could easily go higher if the sports seasons now getting underway don’t run into roadblocks. Story continues There’s a lot to love about DraftKings from a technical perspective, despite the nearly 500% return so far in 2020. The initial rally wave lasted less than three months, lifting price from 10.60 to 44.79. Price action then spent more than three months carving a rounded consolidation pattern, with support at the 50-day moving average. This process has efficiently eased overbought readings through time rather than price, raising odds the current breakout will yield sustained upside. This article was originally posted on FX Empire More From FXEMPIRE: DraftKings Breaks Out To New High Crude Oil Price Forecast – Crude Oil Markets Continue to Look Vulnerable AUD/USD Price Forecast – Australian Dollar Grind Higher Bitcoin Breakout While Ethereum Consolidates Silver Price Forecast – Silver Markets Struggle at The Same Level GBP/JPY Price Forecast – British Pound Continues to Struggle || Bitcoin, gold bounce following bullion’s biggest single-day decline in 7 years: Gold recovered some losses Wednesday morning after posting its worst day in seven years just a day earlier.
Bullion was up more than 1.59% at $1,941 an ounce at the time of writing. That's a turnaround after it shed more than 5% during Tuesday's trade—itslargest single-day dropsince 2013. Analysts tied the precipitous fall of the precious metal to gold being overbought as itralliedabove historic levels earlier this month, as well as rising U.S. yields.
"The rise in US yields delivered a sledgehammer blow to precious metal markets on Tuesday, withgoldfalling 5% and silver taking a massive 15% hit," wrote Craig Erlam, senior market analyst at OANDA Europe. "The rally over the summer has come as US real yields have gone negative and continued to decline so the sudden spike over the last couple of days triggered a rush for the exits in what has become an incredibly overcrowded trade."
Indeed, not even a spike in PPI offered relief for bullion. On Tuesday, the Department of Labor said that the producer price index, which measures inflation for producers before it hits consumers, rose 0.6%, thehighestmove upward since 2018.
Meanwhile, bitcoin's lockstep trading with gold continued into Wednesday. After falling more than 4% over the course of Tuesday, bitcoin was trading up 1.5% at the time of writing.
© 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. || NY AG Asks Court for New Order to Make Bitfinex Turn Over Tether Loan Documents: The New York Attorney Generals office (NYAG) wants Tether and Bitfinex to immediately turn over documents detailing a $900 million line of credit the first entity extended to the second, according to a new filing with a public court system. The NYAGs office began a formal inquiry into Bitfinex and Tether in April 2019, when it alleged Bitfinex had lost access to more than $850 million in customer and corporate funds and covered up the shortfall by borrowing from Tether, with which it shares executives and corporate owners. The NYAG won a ruling that ordered the companies to turn over information pertaining to the extension of credit and the firms relationship. The respondents appealed, but lost the appeal in July. In the time since the [appeals courts] ruling, the parties attempted to resolve this matter, unsuccessfully, the filing , dated Sept. 8 (or exactly 61 days from when the appeals court ruled) said. Related: Bitfinex Invests in Derivatives Exchange Built With Bitcoin's Lightning Network NYAGs inquiry into Bitfinex and Tether, currently the largest stablecoin issuer, revealed there was a period in which the U.S. dollar-pegged USDT stablecoin was only about 74% backed by reserves. Tether later said its token was fully backed, but didnt specify what makes up its reserves. The NYAGs office is now hoping to meet with New York Judge Joel Cohen, who is overseeing the case, and to argue for a new order with a strict 60-day deadline for the crypto companies to turn over the documents. Read more: New York Attorney General Calls Bitfinexs Legal Stance Deeply Perverse in New Filing At the conference we seek, the OAG [Office of the Attorney General] will request that the Court order the immediate production of documents and information by Respondents as required under the April 24, 2019 Order
to be completed no later than sixty (60) days from the date of the requested order, the filing said. The OAG will also request that the Court extend the injunction previously entered in this matter for an additional ninety (90) days. Related: First Mover: Buying Bitcoin's Dip, Betting Against Tether and Weighing the Jobs Report The injunction in question prohibits Tether from lending any more funds to Bitfinex. Despite our best efforts, we were not able to reach an agreement. While we continue to be willing to discuss a potential resolution, we will file our response to the proposed next steps in due course. We will continue to pursue a fair and reasonable process, Bitfinex and Tether General Counsel Stuart Hoegner said in a statement sent by a spokesperson. Story continues This follows a July statement where he said, We will respect the courts order. For its part, Bitfinex has sought subpoenas against various banks to try and recover its missing customer funds, which it held with Crypto Capital, an unlicensed shadow bank whose operator, Reginald Fowler, was arrested last year and is awaiting trial. Crypto Capitals holdings, which apparently included some of Bitfinexs funds, were seized by U.S., U.K. and Polish authorities, and Bitfinex has yet to recover any of these funds. Read the full letter below: UPDATE (Sept. 9, 12:35 UTC): This article has been updated with a statement from Bitfinex and Tether. Related Stories NY AG Asks Court for New Order to Make Bitfinex Turn Over Tether Loan Documents NY AG Asks Court for New Order to Make Bitfinex Turn Over Tether Loan Documents View comments || 12 Crypto VCs Join RioDeFi’s RFUEL Token Sale: HONG KONG, CHINA / ACCESSWIRE / September 21, 2020 / A dozen leading VCs focused on emerging blockchain technologies have participated in the private round of RioDeFi's token sale. The 12 VCs that participated in the round include Kenetic, Moonrock Capital, and Consensus Lab. News of the VC round arrives as the RioDeFi community gears up for the public sale of RFUEL, the network's native token. The RFUEL public sale is currently more than 3x oversubscribed due to strong interest from OM holders, who are members of MANTRA DAO, the first project to build on RioDeFi's Substrate framework. The participation of 12 of the industry's preeminent VCs further attests to the interest in RFUEL, RioDeFi, Polkadot, and defi in general. Investors from Asia and the US are among the firms to have acquired an allocation of RFUEL and pledged their commitment to RioDeFi. James Anderson, RioDeFi CEO, said:"To bring blockchain and cryptocurrencies to the masses, we have surrounded ourselves with institutional partners who have a long term commitment to the space. We all share one common, simple vision: decentralized financial services accessible to everyone." Jonathan Habicht, Managing Partner at Moonrock Capital, said: "RioDeFi has all the right components to not only perform very well within the crypto space but also gain interest from users and investors outside of this industry. RioDeFi's technology is truly impressive and matches the team's vision, ambitions, and knowledge. We are excited to support RioDefi on their mission to create a successful DeFi platform used by individuals worldwide." Ron Sade, managing partner at Brilliance Ventures, added: "We are a big proponent of interoperable blockchain. We believe cross-chain technology is a way to expand the potential of existing networks and an opportunity to spur the level of adoption of this technology to new heights. RioDeFi's value proposition and product line is totally aligned with this vision." Story continues RioDeFi's token sale comes at a time when interest in decentralized finance and in Polkadot is at an all-time high. The RFUEL token will align incentives between participants in the defi ecosystem RioDeFi is building. A focus on onboarding mainstream users includes the development of a mobile wallet that can interact with fiat and crypto assets across multiple chains, and RioChain, a high speed Polkadot parachain. Kyle Chasse, CEO at Master Ventures, said: "The last few weeks have witnessed a surge in the level of attention garnered by Polkadot. The current difficulties experienced by Ethereum network to support fast growing DeFi services make the need for interoperable blockchain more apparent every day. We believe that RioDeFi is ideally positioned to address this issue." The 12 VCs that have participated in RioDeFi's private round are as follows: Kenetic, Moonrock Capital, Master Ventures, Brilliance Venture, Mapleblock Capital, Amplifi Capital, Signal Ventures, Vendetta Capital, Consensus Lab, Plutus VC, Merkle Capital, and AU21. These companies are responsible for billions of dollars of crypto investments and have a track record for identifying and nurturing high growth blockchain companies. They are committed to supporting RioDeFi in its goal to bring decentralized finance to a global audience. About RioDeFi RioDeFi is a blockchain technology company that aims to bridge the gap between traditional and decentralized finance. RioDeFi's key technology is RioChain, a network that is designed to support high performance financial applications. RioChain is built on Parity Substrate , which enables cross-chain interoperability. This means it can interact with assets of other blockchains such as Bitcoin and Ethereum. Find out more: riodefi.com For media contact: Kim Bazak Kim@marketacross.com SOURCE: RioDeFi View source version on accesswire.com: https://www.accesswire.com/606980/12-Crypto-VCs-Join-RioDeFis-RFUEL-Token-Sale || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 5, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com. ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 info@alt5sigma.com For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/604959/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || First Mover: Ethereum’s Transition to Staking Could Push More Traders to Use Derivatives: Ethereum’s biggest-ever upgrade is supposed to make the blockchain network faster and more efficient. But the new “staking” system could lock up so many of the network’s native ether tokens that investors who want to trade them may have to rely on derivatives markets. The blockchain, the world’s second-biggest, currently uses a validating mechanism similar to larger Bitcoin’s known as “proof-of-work,” where new data blocks and transactions are confirmed via power-hungry computers solving complex cryptographic puzzles. 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 . Related: DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say Under Ethereum’s multi-year upgrade now underway, the network would shift to a “proof-of-stake” model, where investors validate transactions by staking ether on the blockchain in exchange for token rewards. It’s a bit like depositing dollars into a bank account for interest, paid out in dollars. A possible consequence, though, is the new staking system could soak up as much as 30% of the ether tokens in circulation, based on estimates from Adam Cochran, a partner at MetaCartel Ventures, a decentralized investment firm. An address needs to stake at least 32 ether tokens, worth about $12,400 at the current price, to become a validator in the proof-of-stake model. “It’s possible to see a future scenario where the incentive to keep assets locked up on-chain is so great as to remove some liquidity from the market,” says Diogo Monica, co-founder and president of the digital-asset custodian Anchorage, told CoinDesk in an email. Story continues Lost liquidity In May, a survey by the Ethereum developer Consensys found that 65% of ether investors were planning to stake the cryptocurrency under the new system, known as Ethereum 2.0, and half of those wanted to run validator nodes. Related: Blockchain Bites: Square's Revenue Surge, Eth 2's Final Testnet, c-Lightning's Latest Update Most staking mechanisms have a lock-up period. Rocket Pool Staking, an Ethereum 2.0 staking service, offers staking terms ranging from three months to a year. Some ether tokens might get locked in staking as the network upgrade proceeds. Ethereum 2.0 is being rolled out in three phases of what could end up being a multiyear process, with the original proof-of-work blockchain running in parallel until the two networks are merged at “Phase 1.5.” Wilson Withiam, a research analyst at the cryptocurrency data firm Messari, told CoinDesk that “ethers sent to the deposit contract will likely remain locked up” until Phase 1.5, and “that could cause a decline in the amount of ether readily available.” Staking derivatives market? Cryptocurrency analysts say ether-staking yields of 3% to 5% would be so tantalizing – at a time when government bonds carry near-zero or even negative yields – that few investors would opt to leave their tokens in Uniswap or other decentralized trading systems where they could be accessed by traders. “In that case, people will have an incentive to create ways to buy and sell ether shares that abstract whether the underlying asset is currently being staked,” Monica said. Derivatives might be a solution. Fixed income from staking could even be packaged as a distinct product. Holders who stake their coins could create voucher tokens representing a claim on the stake. Then they could trade the tokens for ether or other cryptocurrencies. So buyers could capture the yield without having to own the underlying asset. As an alternative to selling voucher tokens, holders could deposit ether as collateral on decentralized lending and borrowing platforms. Messari’s Withiam says he thinks staking derivatives are inevitable. “It will give traders access to tradable assets so that they can continue to do what they do best,” Withiam said. “Exchanges will be able to offer new markets around these assets and potentially lock customers within their product suite if the synthetic assets aren’t transferable outside of the exchange.” For now, all this really just amounts to speculation over how speculators will want to speculate on ether. But there’s no lack of motivation: Plenty of cryptocurrency analysts say it’s possible ether’s price could jump as demand increases for tokens to stake. Ether’s price has tripled this year to about $390. Such returns far exceed bitcoin’s 56% gain on the year. “Financial incentive to buy and hold both increases the security of the network, and could lead to dramatic price appreciation,” said Connor Abendschein, an analyst at the research firm Digital Assets Data. Tweet of the day Bitcoin watch BTC : Price: $11,509 ( BPI ) | 24-Hr High: $11,521 | 24-Hr Low: $11,045 Trend : Bitcoin is showing signs of life with a near 3% rise to over $11,500 on Wednesday after a lackluster day yesterday. The bulls will be hoping to maintain a foothold above $11,400, having failed to keep gains above that level in the previous two trading days. If successful, stronger buying interest may emerge, pushing prices to the psychological hurdle of $12,000 – last put to test on July 27. However, if the market fails to absorb selling pressure above $10,400, a re-test of the daily chart support at around $10,900 may be seen. A continued bullish scenario looks likely with gold, an inflation-hedge, rallying to record highs above $2,000 and the U.S. dollar losing ground across the board. Both bitcoin and gold have recently moved in tandem, with Goldman Sachs warning that the greenback could lose its global reserve status. The overall bias will stay bullish as long as prices are held above the former hurdle-turned-support at $10,500 (February high). Related Stories First Mover: Ethereum’s Transition to Staking Could Push More Traders to Use Derivatives First Mover: Ethereum’s Transition to Staking Could Push More Traders to Use Derivatives || Crypto Trader Besart Hoxha Shares Insights for Building a Strong Portfolio: With the rapid changes in the global economy, there has never been a better time to invest in cryptocurrencies than now. With players like Bitcoin, Litecoin, and others growing each day, the industry is facing a future where increased regulation, growing adoption rates, as well as mainstream acceptance will cause an irreversible maturation in the industry. Crypto trader Besart Hoxha underpins the need for industry know-how before entering the market to pursue profitable returns. Here are insights from the Hoxha: Besart Hoxha Q: Besart, what are some of the key things that investors must understand before entering the crypto market? A: It is essential to understand the market dynamics before creating a robust portfolio in the cryptocurrency market. As a trader, one might have one or more reasons to invest in the world, starting from supporting the technology behind a project, a belief in the social vision, or hedging net worth from fiat collapses. However, before deep-diving into the world of wallets, exchanges, and technologies, it is imperative to learn about the market and how it moves and operates because of several forces impacting it. Since few currencies are decentralized, whereas others are not, the industry showcases significant differences from the rules of traditional financial markets that involve stocks, shares, bonds, and derivatives. Q: How can one create a strong portfolio with cryptocurrency? A: Well thought out and step-by-step market research helps create a robust trading portfolio that will work wonders for a trader. Planned market research helps a trader understand the underlying technology and monetary rules behind whichever token a trader wants to invest or trade-in. It is also useful to know the business use behind each token. Q: Can you share an example? A: Bitcoins can be used as a payment method between two parties, whereas Ethereum is used to create decentralized applications and autonomous smart contracts. Such knowledge can help a trader learn the value of each asset before he starts investing in them and building his portfolio. Story continues Q: Are there any other factors that must be considered? A: Some of the other essential things to keep in mind are the number of developers on a project, how large the community is, the average trading volume (liquidity), and market capitalization. Learning about your risk tolerance level is one of the important guides to help a trader decides on the kind of cryptocurrencies that he should be investing in. Newer currencies available at lower rates showcase big returns but stand an equal chance to fizzle out in the long run. Similar digital assets come with a higher baseline level of risk due to the still unregulated nature of the market. Mainstream currencies move at slower rates and are mostly remain unchanged at their price levels. Q: How would you align cryptocurrency with the traditional financial market? A: If one must compare the cryptocurrency market with the regular financial market, then Bitcoin will emerge as the large-cap stock. Altcoins are like various small-cap and mid-cap stocks with moderate potential for growth. Thorough industry knowledge will help a trader gauge the market to help him seize the most potential opportunities that are undergirded by genuine research and knowledge rather than just emotion. Besart Hoxha believes that even after learning the market trends, a trader should never invest more than he is willing to lose. He also highlights the importance of diversifying portfolios so that one poor decision does not result in total ruin. || Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy: Institutional demand for stablecoins may cool because yield on “carry trades” has been cut in half since Monday. The annualized rolling one-month futures basis shot as high as 28% at the start of the week on the Malta-based cryptocurrency exchange OKEx, the biggest in terms of open interest. That was the highest premium since February, according to data provided by the crypto derivatives research firm Skew . That premium, however, dropped to 14% in under 48 hours. In other words, the carry strategy, if initiated now and held until next Friday, will yield an annualized return of 14%, down from 28% on Monday. Related: First Mover: Collapsing Bitcoin Futures Premium Offers Glimpse of New Digital Money Market Carry trading, or cash and carry arbitrage, is a market-neutral strategy, one that seeks to profit from both increasing and decreasing prices in one or more markets. It involves buying the asset in the spot market and simultaneously selling a futures contract against it when the futures contract is trading at a premium to the spot price. See also: Bitcoin Price Holds Below $12K Even as Hashrate Hits All-Time High The premium, however, evaporates as the futures contract nears expiration and on the day of the settlement, the futures price converges with the spot price. Should futures draw high premiums, savvy traders initiate a carry strategy and lock in fixed returns. Futures markets usually trade at a premium to the spot market and the spread tends to widen during price rallies. The annualized premium rose roughly from 9% to 27% in the last two weeks of July as bitcoin’s price rose from $9,000 to $12,000 and it remained near that level going into August. Related: It's Now Cheaper to Buy One Bitcoin Than to Buy a Single DeFi Token YFI Traders could have locked in an annualized profit of 28% on Monday by buying bitcoin in the spot market and selling the front month futures contract on OKEx. Doing that trade now would still profit, but by only half as much. The decline in the carry strategy yield could also mean a cut in demand for dollar-backed stablecoins like tether ( USDT ). “Stablecoins are widely used as funding currencies and there has been a high demand for these dollar-backed cryptocurrencies from institutions,” Skew CEO Emmanuel Goh told CoinDesk in a Telegram chat. Indeed, the carry trade has been one of the main reasons for the surge in stablecoin issuance seen this year. On Monday, the annualized cost of borrowing tether on the decentralized finance protocol Compound was 6.94%. Assuming carry traders borrowed USDT from Compound on Monday, holding the carry strategy until the August expiry, due next Friday, would generate a net yield of about 21% in annualized terms. (return of 28% from cash and carry adjusted for tether’s borrowing cost of 6.94%). Story continues See also: First Mover: Money Legos Turn ‘Exuberant’ as Chainlink Stripped of ‘DeFi’ If the same strategy were executed at press time by borrowing USDT, the net yield would be 6.3%. That’s because the cost of borrowing USDT is now 7.68% and the OKEx futures are trading at a premium of 14%. Put simply, carry trades have become far less attractive. As such, institutional demand for stablecoins could soften, as noted by Skew. The premium has declined sharply in the past 48 hours, possibly due to bitcoin’s failed breakout above $12,000 and resulting concern of deeper price pullbacks. The decline in premium may have been compounded by increased selling in futures as more traders piled into the cash and carry trade. Whenever futures trade at discount to spot prices, traders execute reverse cash and carry trade by buying futures and taking a short position in the spot market. Related Stories Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69
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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 2019-05-08]
BTC Price: 5982.46, BTC RSI: 74.82
Gold Price: 1279.40, Gold RSI: 46.65
Oil Price: 62.12, Oil RSI: 47.48
[Random Sample of News (last 60 days)]
Coinbase.com Users Can Now Send Crypto Directly to Firm’s Wallet App: Coinbase has launched a new feature allowing user to directly transfer cryptocurrency holdings on Coinbase.com to accounts in the firmâs Wallet app. The San Francisco-based cryptocurrency exchange announced the news in a blog post on Tuesday, saying that users will be able to link their accounts once the app gets updated in the ânext few days.â âOnce your Coinbase account is linked, you can easily transfer crypto to your Wallet app with just a couple of clicks, anytime you need it,â the exchange said. Samsung Unveils Cryptocurrency Wallet, Dapps for Galaxy S10 Phone Coinbase explained that with the Coinbase.com account, users can buy cryptocurrencies and the exchange itself stores the keys centrally. However, with the Wallet app, users safeguard their own private keys. The new feature is optional. After the app update is released, users will receive an in-app notification to âConnect to Coinbaseâ to link the accounts if they so choose. The account linking can be turned on or off at a later date from the Settings menu, the exchange said, adding that the feature would add convenience for Coinbase users that regularly transfer funds from their Coinbase.com account to a software or hardware wallet. Social Trading Giant eToro Adds Crypto Buying and Selling in 32 US States Coinbase is also planning a future update that will allow cryptocurrencies to be directly sent to users’ Coinbase.com accounts from the app. Coinbase has added a series of new features to the Wallet app lately. Last month, the app announced support for bitcoin (BTC), bitcoin cash  (BCH) and litecoin  (LTC) on both iOS and Android. Also in February, Coinbase announced that Wallet users would be able to back up their private keys on personal cloud storage platforms Google Drive and Apple iCloud. App images courtesy of Coinbase Related Stories Coinbase Says It Never Shared ‘Personally Identifiable’ Customer Data Coinbase Pushes Out Ex-Hacking Team Employees Following Uproar || Bitcoin Creator and Superagent: What You Should Know About Craig Wright: Recently, it was revealed that Craig Steven Wright , one of the most controversial figures in the crypto community, had filed 114 blockchain patents since 2017. He also quit Twitter , where he would often publish his opinions on anonymity (bad), Bitcoin SV (the real Bitcoin) and other cryptocurrencies (also bad). He is also known for arguing that he is actually Satoshi Nakamoto , the original creator of Bitcoin. Heres the complete list of things you should know about Wright. Wrights bio is really rich, but hardly verifiable He was born in October 1970 in Australia , according to registration papers of one of his many companies. As per a Business Insider article citing his now-edited LinkedIn profile , Wright graduated from Brisbane's Padua Catholic College in 1987. In the early 1990s, he worked as a sauce cook, having trained in French cuisine, and spent three years working with a catering company. Wright was reportedly studying at the University of Queensland while working as a chef. He initially attended engineering classes, but switched to computer science in his fourth year. In 1996, as per his earlier LinkedIn bio, he began working at Ozemail, where he was "managing a bunch of engineers," thus starting his eventful career in tech. However, according to a 2007 Computerworld article , he began working in IT when he joined K-Mart in 1985 which would have been even before he finished high school. In April 1997, Wright says he joined the Australian Stock Exchange, maintaining security and firewalls. In November the same year, he launched a company called DeMorgan, described as "a pre-IPO Australian listed company focused on alternative currency, next generation banking and reputational and educational products with a focus on security and creating a simple user experience." In fact, up until July 2015, Morgan was the CEO of about 15 companies. As the Guardian points out , in the space of a week, he resigned as director from Cloudcroft Pty Ltd, Coin-Exch Pty Ltd, Daso Pty Ltd, Demorgan Holdings Pty Ltd, Demorgan Ltd, Denariuz, Ezas Pty Ltd, Integyrz Pty Ltd, Misfit Games Pty Ltd, Interconnected Research Pty Ltd, Zuhl Pty Ltd and Pholus Pty Ltd, and remained the director of just three companies: Hotwire Preemptive Intelligence Pty Ltd, Panopticrypt Pty Ltd and Hotwire PE Employee Share Plan Pty Ltd. Currently, his LinkedIn only features a startup called nChain, where he has allegedly been working as a chief scientist since June 2015. Wright seems to be a man of libertarian views. According to the Cypherpunk mailing list archive, in September 1996, Wright wrote that he had developed cancer during his years at university and took a loan to pay for medical treatment because the health insurance didnt cover it. He then mentioned that he served in the military and worked at a gas station even though I am an engineer, adding: Story continues So why and for what reason should I have to pay several 10's of thousands each year to support others. I have never taken help from the government, I do not feel I should have to pay as well. And what am I paying for...to protect the status quo. I believe that there is more than enough help for ppl available. They just need to get off their butts and work. In sum, Wrights biography seems to be considerably replete and busy or, at least, he portrays it that way. On top of having two PhDs , Wright wields numerous certifications in computer forensics and information technology (IT). In February, he published two Medium articles in which he claimed to have worked as an agent of influence in Venezuela and Colombia . Picturing himself as a James Bond-esque character fighting terrorism and evil, Wright says he was shot twice during the operation. Also, at some point, he claims that he was a pastor once. According to his story, the Australian entrepreneur came back from South America to witness Bitcoin which he created (more about that below) being used on the darknet. I discovered the creation I had given birth to, something I designed to bring light was being used for all the worst reasons. Not only drugs, but people. Anonymity is a curse. Nothing good comes of it. Wright has several times claimed that he is Satoshi Nakamoto, and refused to provide sufficient proof Wright become a known figure in crypto community after media reports linking his identity to Satoshi Nakamoto, the pseudonymous creator of Bitcoin, surfaced in late 2015. Previously, in 2014, one of his few reported links to cryptocurrencies was that he tried launching the worlds first Bitcoin bank . Thus, in December 2015, Wired and Gizmodo reported within hours of each other that the Australian computer scientist and entrepreneur might be the creator of the worlds largest cryptocurrency. The Wired story claimed that Wright "either invented bitcoin or is a brilliant hoaxer who very badly wants us to believe he did." It was based on documents and emails that were purportedly leaked by an anonymous source close to Wright to an independent security researcher Gwern Branwen, who co-wrote the article with Wired author Andy Greenberg. Similarly, Gizmodo ran a story that featured documents allegedly obtained by a hacker who accessed Wright's email accounts, claiming that Satoshi Nakamoto was a joint pseudonym for Craig Steven Wright and his friend, computer forensics analyst and cybersecurity specialist David Kleiman, who died in 2013. Moreover, on the same day the articles were published, Australian Federal Police (AFP) raided Wrights house in the Sydney suburb of Gordon. However, the AFP clarified that the operation was not related to the Bitcoin claims. A substantial part of the evidence presented in the reports along with Wrights previous claims was soon proved false . First, Wright's company Cloudcroft had declared to have two supercomputers, one of which allegedly produced by computer manufacturer SGI. However, SGI soon clarified that "Cloudcroft has never been an SGI customer and SGI has no relationship with Cloudcroft CEO Craig Steven Wright." Further, Wright had listed two PhDs on his LinkedIn page, including one from Charles Sturt University. Eventually, Forbes contacted the university and found out that it hadnt granted Wright any PhDs, although it gave him three master's degrees in networking and systems administration, management (IT), and information systems security. Wright was, however, awarded with a doctorate degree by Charles Sturt University later in 2017. Also, a technical analysis of two PGP public keys attributed to Wright, but also linked to Satoshi Nakamoto, showed that they were created more recently than the documents in which they were featured. Finally, a number of posts in Wright's now-deleted blog that seemed to portray him as a person who was directly involved in Bitcoins creation had been backdated or edited ; the archived versions of the posts from 2013 show none of those breadcrumbs that Wright could have planted to mislead the media into thinking he is Satoshi. After the aforementioned stories went live, Wright promptly took down his social media accounts and disappeared for several months. On May 2, 2016, he came back (he now lives in London, United Kingdom, according to his LinkedIn profile) and publicly declared that he is the creator of Bitcoin. Later on in the same month, Wright published a sentimental apology piece where he refused to publish the proof of access to one of the earliest Bitcoin keys, saying he doesnt have the courage do it. However, Wright still claims to be the pseudonymous Bitcoin creator. Just last month, the entrepreneur filed two near-identical comment letters to the United States Commodity Futures Trading Commission ( CFTC ) in which he again declared that he is Satoshi. The documents were submitted in response to the agencys request for industry input and feedback on Ethereums ( ETH ) mechanics and market. Specifically, Wright wrote that he worked under the pseudonym of Satoshi Nakamoto, and "completed a project [...] started in 1997 that was filed with the Australian government in part under an AusIndustry project registered with the Dept. of Innovation as BlackNet. BlackNet an alleged precursor to Bitcoin was submitted to the Australian government in 2001, according to one of Wrights tweets (he deleted his Twitter profile earlier this month). On Reddit, user Skoopitup argued that the BlackNet paper that Wright supposedly submitted in 2001 largely copied the official Bitcoin white paper (published October 2008), which notably contained significant corrections to an earlier draft that had been shared by Satoshi earlier in August 2008. In his remaining comments to the CFTC, Wright wrote: The amount of misunderstanding and fallacious information that has been propagated concerning bitcoin [...] has resulted in my choice to start to become more public. The system I created was designed in part to end fraud as best as that can be done with any technology. The lack of understanding [...] has resulted in [...] a dissemination of old scams. The Australian entrepreneur still hasnt signed a message with the key associated with Bitcoin's genesis block, which could be seen as strong evidence of him actually being Satoshi Nakamoto. Wright played a key role in the BCH hash wars and now claims that Bitcoin SV is the original Bitcoin Bitcoin Cash ( BCH ) is a cryptocurrency that emerged on Aug. 1, 2017 after departing from Bitcoins original blockchain via a hard fork in an attempt to manage its scalability issue . The BCH network performs hard forks as part of scheduled protocol upgrades. The fork scheduled for Nov. 15, 2018, however, was disrupted by a competing proposal that was not compatible with the original roadmap. As a result, the BCH community was split into three fractions : Bitcoin ABC, Bitcoin Unlimited and Bitcoin SV. Craig Wright lead the Bitcoin SV team, whose goal was to restore the original Satoshi protocol by changing the current BCH structure. Specifically, that involved entirely overwriting the network scripts of Bitcoin ABC and increasing the block size of BCH from 32MB to a maximum of 128MB in order to increase network capacity and scale. Bitcoin SVs cryptocurrency design was made by Wrights nChain company. At some point, after Jihan Wu , co-founder of major crypto miner and manufacturer Bitmain , who supported the Bitcoin ABC team, accused Wright of being a Blockstream spy and a fake Satoshi. In response, the computer scientist entered a verbal fight. Specifically, Wright tagged Roger Ver another ABC proponent and Bitmain with bankruptcy threats and accusations of being engaged in Silk Road machinations and child pornography. Even though Bitcoin ABC essentially won the so-called hash wars and secured the original BCH ticker, Bitcoin SV lives on. In late February, Bitcoin SVs value rose 20 percent , driving it into the top-10 largest cryptocurrencies by market cap. As of press time, Bitcoin SV is the 12th-largest token, with a market cap of $1.5 million, according to CoinMarketCap . Craigh Wright has a lot of blockchain patents According to the publication Hard Fork , the World Intellectual Property Organization (WIPO) has published 155 patents applications filed by Wright all of which were submitted through his company nChain. Thirty-five of those were published this year. The earliest document date relates to Aug. 31, 2017. The majority of those applications mention blockchain. Specifically, Hard Fork writes, the term blockchain was used 114 times in patent titles. Cryptocurrency, in turn, is only featured six times, while Bitcoin is not mentioned at all. Wright has written about his patents quest via Twitter (which has been deleted). According to the screenshots cited by Hard Fork, Wright decided to file his patents in Europe because it was harder: Once we have the EU, we have the PCT [Patent Cooperation Treaty] in the USA. The US is simpler. The Patent Cooperation Treaty has been signed by 152 countries . After filing one international patent application under the PCT, applicants can get simultaneously protection for their inventions in many countries. As per Bloomberg , business-wise blockchain patents are an essential ingredient for companies looking to reshape the financial services industry or spawn profitable cryptocurrency-related businesses. Basically, such patents help companies attract investment, protect property rights and collect monopoly profits from other companies using their inventions. Its been argued that Wright is filing patents without the intent of actually using them, but instead to demand large payouts from companies which happen to use similar technologies in their line of work. As Marc Kaufman, an attorney who co-chairs the Blockchain Intellectual Property Council at the U.S. Chamber of Digital Commerce, told Fortune: His tactics and activities have all the marks of being a patent assertion entity or whats pejoratively known as a troll. Im not aware of his companies having any products. Craig Wright is being sued for at least $1 billion In February 2018, the estate of David Kleiman Wrights associate and computer forensics expert who died in April 2013 seemingly of natural causes related to complications from a MRSA infection brought the suit against Wright to the U.S. District Court of the Southern District of Florida. The estate is represented by Ira Kleiman, Davids brother. According to court documents that surfaced on Reddit, the plaintiff claims that Wright stole hundreds of thousands of BTC, worth over $5 billion dollars at the time, from David Kleimans estate. The statement by the plaintiff alleges that Wright recognized that Kleimans friends and family were initially unaware of the wealth he accumulated. Specifically, the statement reads, Wright forged a series of contracts that purported to transfer Daves assets to Craig and/or companies controlled by him. Craig backdated these contracts and forged Daves signature on them. Wright contacted Kleimans estate after his associates death and disclosed that he and David had worked together to develop blockchain and Bitcoin, according to the plaintiff. In December 2018, new documents were published online, indicating that the court had rejected repeated requests from the nChain chief scientist to dismiss the lawsuit. In an amended lawsuit supported by Judge Beth Bloom, a figure of 300,000 BTC ($1.5 billion as of press time) was now circulating. The Court finds that Plaintiffs have sufficiently alleged a claim for conversion, the court document confirms, continuing: The Amended Complaint alleges that Defendant converted at least 300,000 bitcoins upon Daves death and transferred them to various international trusts, which was an unauthorized act that deprived the Plaintiffs of the bitcoins therein. Accordingly, Plaintiffs claim for conversion [...] survives Defendants Motion to Dismiss. In March 2019, Jeff Garzik , one of the earliest contributors to the Bitcoin codebase, was reportedly subpoenaed by the court for documents relating to the Kleiman vs. Wright complaint. Specifically, the court demanded all documents, communications, and agreements that support his [Jeffs] personal theory that Dave Kleiman is Satoshi Nakamoto. In a 2018 interview with Bloomberg, Garzik suggested that Dave Kleiman was the original creator of Bitcoin. Wright doesnt have a particularly good relationship with crypto community After some of the aforementioned inconsistencies related to Wrights claim that he is Satoshi surfaced, the crypto community became increasingly skeptical about the Australian computer scientist. However, some of his claims in regard to other cryptocurrencies certainly didnt help. In January 2019, for instance, he called Andreas Antonopoulos , author of the book Mastering Bitcoin, a shitcoin expert. In February this year, Wright told CNBC Africas Ran Neuner in a rather rude form that he knows how to deanonymize and destroy privacy coins Zcash and Monero , which he apparently is going to do sometime this year: If you have a privacy coin, I will show you that it is basically as private as running through Times Square with your pants around your ankles. In October 2017, in a now-deleted tweet, Wright argued that the Lightning Network was oversold. At the 2018 Deconomy conference in Seoul, South Korea , Ethereum co-founder Vitalik Buterin publicly questioned Wrights competence, calling him a fraud. Given he makes so many non-sequiturs and mistakes, why is this fraud allowed to speak at this conference? In response, Wright tweeted: Oh well.... looks like I broke Vitalek
:) He is a twig.. must remember to be gentle next time .... Last week, the Australian entrepreneur deleted his Twitter page after removing over 10,000 tweets. On March 17, not long before erasing his presence on the social media outlet, Wright tweeted that he will be taking action aggressively to remove any site that is in error or makes false claims, referring to people calling him a fraud, among other things. You do not have a right to lies under free speech nor harassment, nor libel and slander, he wrote . If an error is reported in a malicious context concerning me, expect to be living in a barrel when we finish with you. Related Articles: The Lightning Torch: How the Community United to Teach Jack Dorsey About Feeless, Rapid Off-Chain Transactions Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 8 Electrum Faces Another Fake Wallet Attack, Users Reported to Lose Millions of Dollars Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow View comments || The Ledger: China's Bitcoin Ban, Crypto Endowments, Arbitrage bots: China appears poised once again to clamp down on the cryptocurrency industry. But people should welcome, not fear, the proposal.
The National Development Reform Commission, China’s top economic planner, last weekrecommended eliminatingthe digital “mining” business altogether, echoing similar guidance the commissionpublished in 2011. The country has dominated this lucrative specialty for the better part of Bitcoin’s history thanks to an abundance of cheap electricity, sourced from coal and hydropower, as well as the presence of a well-established manufacturing base capable of supplying the necessary machinery.
The prospective ban does not come as a surprise. China has been unfriendly to cryptocurrency—the permission-less, public blockchain variety—for a while. It banned so-called initial coin offerings, or ICOs, in 2017. It cracked down on cryptocurrency exchanges that same year. Targeting mining was the nation’s next logical step.
“Even back [in 2017], many miners in China figured they’d be next in the government’s crosshairs,” Juan Villaverde, head of crypto research at Weiss Ratings, tellsFortune. He notes that big cryptocurrency mining operations have had time to put in place contingency plans to move to friendlier jurisdictions. “Even if Chinese miners must shut down, they’ll be promptly replaced by others,” he says. “Moreover, the reduced competition will make mining Bitcoin more profitable for those who remain in the game.”
Industry insiders and academicshave long warnedthat China’s outsized influence posed an existential threat to Bitcoin. In recent years, the country’s mining pools have accounted for roughly three quarters of the compute power devoted to Bitcoin’s network. A ban in China could lead to greater decentralization of the network: More miners based elsewhere.
China has good reasons to consider a ban, including the cryptocurrency trade’s rampant speculation, fraud and energy consumption. No doubt the Communist Party seeks greater control and oversight of the industry, something of a Great Firewall for blockchain. The irony is that, if the country does end up outlawing mining, the move could, ultimately, make Bitcoin and its ilk more global and resilient.
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1. THE LEDGER’S LATESTCrypto Cowboy Binance Wants to Play by the Rulesby Jeff John RobertsFacebook Is Getting More Aggressive About Its Blockchain Playby Polina MarinovaApple and Goldman Sachs Dive Head-First Into Crowded $175 Billion Credit Card Poolby Mark Gurman and Jenny SuraneThe Deficit Is Growing Far Faster Than Predictedby Erik ShermanCongress Is Pushing a Blockchain Bill. Does It Defeat the Point of Decentralized Tech?by Jeff John RobertsThere’s an Exciting Tech Company IPO This Week–and it’s Not Uberby Adam Lashinsky
2. DECENTRALIZED NEWSTo the Moon…New York regulators grant Europe’s biggest cryptocurrency exchangea BitLicense. Japan’s biggest bank has plans fora cryptocurrency exchange and token. JPMorgan Chasecrushes earnings. Harvard University’s endowmentto buy crypto tokens from Blockstack. Western Union ispartnering with a blockchain startup. Coinbasedebuts debit cardin the UK. Relatedly, London may soonbeat out San Franciscowhen it comes to fintech. (Credit Karma istripling its staff there, by the way.) ConsenSys looksto raise $200 millionon $26 million in revenue. Amazon Go storesto accept cash. PayPal board director is abig Bitcoin bull.…Rekt.New York rejected U.S.-based cryptocurrency exchange Bittrex’sBitLicense application. Apparently, the regulatory body found Bittrex customers trading under aliaseslike “Donald Duck” and “Elvis Presley.”Binance isdelisting “Bitcoin SV”after its CEOpublicly feuded with Craig Wright, the coin’s champion and self-proclaimed inventor of Bitcoin. People think blockchaincould fix Brexit. Credit card debtis boomingin the U.S. European challenger bank N26faces questions from regulators.
3. BALANCING THE LEDGERClick to view ☝️In lieu ofBalancing The Ledger,here’s a clipofFortune’sJen Wieczner moderating a cryptocurrency hedge fund panel at the Token 2049 conference in Hong Kong last month. Alex Sunnarborg, founding partner of Tetras Capital, told her he believed that the markets for Bitcoin were “probably pretty close, in terms of time and price,” to bottoming out. Just a couple weeks later, Bitcoin’s pricemysteriously lurched upward, exceeding $5,000 for the first time in months and leading to some speculators to question whether “crypto winter” is in thaw.
4. BUBBLE-O-METER94%That’s the percentage of endowment funds that have allocated to crypto-related investments in the past 12 months,according to a surveyof 150 such funds by Global Custodian and The Trade Crypto, two financial trade publications, in partnership with BitGo, a cryptocurrency custodian startup. Only 7% of the respondents said they planned to reduce their allocations in the next 12 months. (Eighty-nine percent of the funds surveyed were American while the rest were either Canadian or British.)
5. MEMES AND MUMBLESGarbage BIN.Halifax Bank in the UK appears to have lifted liberally from the marketing materials of Monzo, a challenger bank based in London. Tom Blomfield, chief executive of Monzo,called out the offender on Twitter. “It’s great to see your updated brand identity, but it looks like you forgot to update couple of things,” Blomfield wrote. “The card in the photo still displays the monzo BIN (5355 22)”—also known as bank identification number—”and the name of one of our staff members… 😉”Whoopsies…
6. FOMO NO MO’Flash Boys 2.0.Many cryptocurrency boosters have long dreamed about the technology leveling the playing field for financial aspirants. A key part of that vision is the “decentralized exchange,” or DEX, a piece of software-based infrastructure that allows people to conduct trades without need for a centralized market-maker, such as a Binance or a Coinbase. But there’s a problem with this approach: Traders can easily outbid peers and front-run orders, thereby gaming the system to their advantage, according to a new study from a group of academics out of Cornell University, University of Illinois at Urbana–Champaign, Carnegie Mellon University, and ETH Zurich. Below is a snippet fromthe paper’s abstract; those wishing to dig deeper can read thefull 23-page paper here.undefinedWe hope you enjoyed this edition of The Ledger.Find past editions here, andsign up for other Fortune newsletters here. Question, suggestion, or feedback?Drop us a line. || Zacks Market Edge Highlights: Apple, Facebook, Amazon, Tesla and Lululemon: For Immediate Release Chicago, IL – May 2, 2019 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: ( https://www.zacks.com/stock/news/406711/are-millennials-the-first-stock-investing-generation) Are Millennials the First Stock-Investing Generation? Welcome to Episode #175 of the Zacks Market Edge Podcast. Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. In this episode, Tracey is joined by Zacks Associate Stocks Strategist Dan Laboe for his first ever podcast appearance on the Market Edge Podcast, or any podcast, for that matter. It’s become something of a ritual at Zacks for Millennials who come to work at Zacks to talk with Tracey about what they, and their friends, are investing in and how they’re doing it. The conclusion is: stocks are popular among the youngest Millennials, those in their early to mid-20s. Alternatives, like Bitcoin, aren’t. And many are using the easy, and cheap to use, apps like Robinhood to do it. Millennials Buy What They Know Millennials wouldn’t be the first generation to buy the stocks of products and services they are using. 1. Apple AAPL might just be owned by every Millennial investor out there. Yes, it’s that popular. 2. Facebook FB may not be that popular among the Millennials, but Instagram is and Facebook owns that too. 3. Amazon AMZN is popular among Millennials but the share price is through the roof so that makes it prohibitive for Millennial investors to buy. Who wants to buy just one share of a stock? Amazon is trading at $1926 so you’d have to have deep pockets to buy even just a couple of shares. Story continues 4. Tesla TSLA may sell relatively expensive cars, but Millennials are admirers of its CEO Elon Musk. Some may have gone as far as to join Twitter just to see his tweets. The cult of the CEO is still alive and well. 5. Lululemon LULU isn’t just for women. Lulu’s men’s business is growing quickly. Why are Millennials willing to spend the extra money on their product? Quality and customer service. Despite all the angst about Millennial’s budgets, the younger ones are willing to spend on the brands they love. The mass media also paints a gloomy picture of Millennials ability to save money but IRAs and 401ks are popular with Dan and his friends. What else should you know about the Millennials and their stock investing? Listen to this week’s podcast to find out. [In full disclosure, the author of this article owns shares of FB, AMZN and LULU in her personal portfolio.] Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98% , +119% and +164% in as little as 1 month. The stocks in this report could perform even better. See these 7 breakthrough stocks now>> . Follow us on Twitter: https://twitter.com/zacksresearch Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com/performance Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Facebook, Inc. (FB) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || An introduction to Sliver.tv, Theta, and tokenised bandwidth sharing: The gaming industry is now worth more than the film and music industries combined – but just how far is it progressing? With the integration of blockchain technology into gaming, we have already seen massive improvements in the gaming space, such as the introduction of non-fungible tokens (NFTs) and the ability to retain in-game items indefinitely. While NFTs might be on the rise, over at Sliver.tv – an online streaming platform – a new method of streaming is emerging. Perhaps the two biggest sources of gaming content are Twitch and YouTube. However, now that the true power of blockchain technology is starting to be realised, there could be a monumental shift in the status quo. Theta usage is ramping up nicely as channels on https://t.co/6Tk7ZrF8oY start running on Theta! MB shared continues to increase, which directly correlates with users earning TFUEL and platform CDN cost savings. Once all https://t.co/6Tk7ZrF8oY runs on Theta these numbers will 10x pic.twitter.com/wFvncp4mOw — Theta Network (Not giving away ETH/BTC) (@Theta_Network) March 11, 2019 What is Theta? Theta is the native token of Sliver.tv. Fundamentally, Theta is used to reward activity on the Sliver network. It was originally created as a solution to ongoing issues in the video content world. On its website is a quote from Steven Chen, a co-founder of YouTube and a media adviser to Theta, which states: “Theta’s innovation is set to disrupt today’s online video industry much in the same way that the YouTube platform did to traditional video back in 2005. One of the biggest challenges had been the high costs of delivering video to various parts of the world, and this problem is only getting bigger with HD, 4K, and higher quality video streams.” Story continues Chen is now helping Theta create a decentralised peer-to-peer (P2P) network that can offer improved video delivery at lower costs using tokenised bandwidth sharing. The issues with current streaming models today are the low quality of video, the high costs of the streaming infrastructure, and the inefficient centralised ecosystem. Sliver.tv believes today’s content delivery networks (CDN) lack reach, which results in buffering, pauses, skips, and overall lower quality content. It also believes that the publisher soaks in the high cost of operating a CDN, giving less revenue to pass on as user rewards. The inherent centralised nature of many streaming publishers also creates less revenue flow back to the content creators, which leads to less innovation. Theta’s solution is to provide a new model for bandwidth sharing – the viewer can opt-in to share bandwidth and resources, giving them access to rewards while simultaneously improving the quality of the stream which is hosted on a P2P decentralised CDN. This in turn reduces the cost of delivering video streams because the platform no longer needs to develop an expensive infrastructure, which gives more breathing room for innovation and unique business models. Our child has officially turned 1 month! @Theta_Network 😎 Looking forward to the future pic.twitter.com/SwA9EdMna4 — SLIVER.tv (@SLIVERtv360) April 16, 2019 The Theta token and Theta Fuel This new model for streaming is centred on a smooth-running ecosystem using ‘Theta Fuel’, which in theory will allow the network to become self-sustaining. Theta Fuel is similar to ‘gas’, which is used to support the Ethereum blockchain. It is a quintessential aspect of the ecosystem which is given as a reward. Like with many blockchains, nodes (computer devices) are required to help run the network, specifically validator nodes and guardian nodes. Validator and guardian nodes are able to stake Theta tokens (Theta’s cryptocurrency) and earn Theta Fuel in return. This Theta Fuel can then be sold to an exchange. Once the exchange owns the Theta Fuel, it can be sold to video platforms such as Sliver.tv or Samsung VR. The video platforms can then distribute the Theta Fuel to the viewer who can then use it to pay the relayer for video segments. The relayer then has two options: spend the Theta Fuel on the platform or sell it to an exchange. If the model is running optimally, the Theta Fuel will always be redistributed because the video platform will award it to the viewer. Any Theta Fuel sold to the exchange will ultimately be bought by the video platform and then distributed back to the viewer. Fundamentally, this model enables the viewer to both earn Theta Fuel and reduce the cost of delivering video streams while the content creators and platform will earn more as well. In effect, Theta is trying to push a win/win scenario where centralised governors no longer benefit the most. Viewers will be earning Theta Fuel for every minute they spend watching streams on Sliver.tv, which are powered by the Theta network. As they are watching the stream, Theta will use their excess upload bandwidth to share the stream with other viewers. The @SLIVERtv360 store has been upgraded! Now you can use TFUEL to buy items, or as a partial discount on items + pay the rest w/ fiat. Our partners coming to mainnet are excited about using this feature for discounted monthly subscriptions, content, etc. https://t.co/iA1X6AOIC1 pic.twitter.com/hHEHT3mmwc — Theta Network (Not giving away ETH/BTC) (@Theta_Network) April 4, 2019 Sliver.tv Sliver.tv is a video platform where content creators host their streams to viewers. Theta Fuel can be bought through the Sliver website . For the viewer, one could argue its biggest attraction is the ‘watch and win’ mechanic. It enables the viewer to win Theta Fuel by successfully answering questions. The questions are tailored to both the streamer and the game being streamed. For example, in a game of Apex Legends, one question might be “Will x get a win before 13:00 CET?” While this particular question pertains to the streamer and whether they will win a game, another question might ask about the game itself. In this scenario, it will require the user to actually know about the game, providing incentive for them to stick around and watch the streamer if they have not played the game themselves. As outlined in the tokenised bandwidth sharing model, the questions are leveraged to the viewer in a bid to keep the Theta Fuel circulating around the ecosystem. The viewer might choose to donate Fuel to the streamer, thereby supporting them. Each relayer will also be rebroadcasting the stream elsewhere, helping to reduce the cost of hosting it. Any stream on Sliver.tv with an orange Theta Fuel logo means that Theta Fuel can be earned through watching that particular stream. Using the example of Sliver, it is easy to see how essential each part of the ecosystem is: Without the nodes staking Theta tokens, there is no Theta Fuel Without the video platform or content creator, there is no stream Without the viewer or relayer, the model loses its P2P nature 🇪🇺 We're are LIVE with our EU #SLIVERShowdown CS:GO Grand Finals Streaming on the @Theta_Network – Earn TFuel while watching! Current Giveaway Prize – AK47 Vulcan (FT) Watch now -> https://t.co/StiLvXDbCt pic.twitter.com/kN76J1DaB3 — SLIVER.tv (@SLIVERtv360) April 5, 2019 Virtual reality streams in 3D The next step in the Theta revolution is its partnership with Samsung VR (virtual reality). The Samsung VR website hosts VR streams relayed from Sliver.tv. Effectively, it acts as another video platform in the Theta ecosystem. While watching a stream on the website, you will see an in-stream TV which broadcasts another stream being held elsewhere – such as on Sliver.tv. At the same time, the viewer will be able to look around the game in VR. This means the viewer will be using VR to see inside of the game they are watching on stream. Sliver.tv has patented its 360 VR video technology. It is certainly unique and something that mainstream platforms such as YouTube and Twitch do not offer at this moment in time. While watching the 3D VR stream on Samsung VR, you will actually be rebroadcasting the content to others in the network and earning tokens in the process. Great @PlayApex stream with my @SLIVERtv360 pals @Joe_Fosho_ and Paragon who's Twitter I can't find. Pulled off this Pathfinder grapple escape which is one of my best so far. I'll be back on @Twitch playing Apex from 3-7EST tomorrow. pic.twitter.com/YHLh988wCA — MayorReynoldsTV (@MayorReynoldsTV) April 15, 2019 You can never do too much homework Please be advised that we are an independent publication and do not recommend any cryptocurrency or project in particular. Always make sure to do adequate research before committing to any project since the crypto space is notoriously volatile, and ultimately you are responsible for any decisions you make. Interested in reading more about the blockchain gaming space? Discover more about the powerful non-fungible token (NFT) asset class, which is widely used in blockchain games. The post An introduction to Sliver.tv, Theta, and tokenised bandwidth sharing appeared first on Coin Rivet . || Mt. Gox Trustee Extends Deadline for Rehabilitation Plan Submission: The trustee of now-defunctJapanesecryptocurrencyexchangeMt. Goxhas extended the deadline for submission of rehabilitation plans, according to an official announcementpublishedon the company’s website on April 25.
Per the announcement, the exchange’s Rehabilitation Trustee Nobuaki Kobayashi filed a motion in a bid to extend the submission deadline of a rehabilitation plan at the Tokyo DistrictCourt. On April 24, 2019, the court released an order to extend the deadline to October 28, 2019. The announcement reads:
“A large amount of rehabilitation claims that the Rehabilitation Trustee fully or partially disapproved remains undetermined for being subject to claim assessment procedures. Accordingly, it is not possible at this moment to make appropriate provisions in a rehabilitation plan on modifications of the rights of the rehabilitation claims, repayment methods, and appropriate measures for the undetermined rehabilitation claims and therefore to submit a rehabilitation plan by April 26, 2019.”
As previouslyreported, roughly 24,000 creditors were purportedly affected by Mt. Gox’s 2011 hack and subsequentcollapsein early 2014, which resulted in the loss of 850,000BTC(valued at roughly $460 million at the time). In June 2018, Japanese courtapproveda petition for the exchange to begin civil rehabilitation, which had the knock-on effect of repaying creditors in BTC and ending the bitcoin sell-offs.
In fall 2018, Kobayashipublisheda statement disclosing that he had liquidated almost 26 billion yen (about $230 million) in BTC and bitcoin cash (BCH) over four months as of early March 2018.
On March 19, Kobayashiannouncedthat he had concluded processing creditors’ rehabilitation claims and that they will be notified of the results within days. Later in April, the trusteesaidthat all creditors who filed rehabilitation claims had received a decision, but warned the timing and method of repayment had not been determined.
In early April, Andy Pag, the founder and coordinator of Mt. Gox Legal (MGL) — the largest group of creditors of Mt. Gox —quit his postand decided to sell his claim.
• SBI’s Crypto Exchange SBIVC Achieves Profits in First Fiscal Year, Considers STO
• Japanese Cryptocurrency Exchange Zaif to Resume Activity Seven Months After Hack
• Major Japanese Fintech Firm Halts Plans to Launch Crypto Exchange, Citing Bear Market
• Monex Reveals July Start Date for US Exchange as Coincheck Reports $15 Mln Loss in 2018 || Japan Yahoo backs new cryptocurrency exchange: A subsidiary of Japan Yahoo will allow the trade of cryptocurrencies after a reported $19 million deal. Taotao, formerly known as BitARG, will launch in May and is a 40% subsidiary of the internet giant. It will trade in cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) and will offer margin trading for Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP). Taotao has regulatory approval from the Japan Financial Services Agency (JFSA). Local media reported Japan Yahoo paid about 2 billion yen for the stake. Pioneering Japan Japan Yahoo is not the first mainstream Japanese company to invest in blockchain. Japanese e-commerce giant Rakuten is fusing the technology and its Super Points loyalty programme to create its own cryptocurrency, Rakuten Coin. Rakuten CEO and founder Hiroshi Mikitani said: “Basically, our concept is to recreate the network of retailers and merchants. We do not want to disconnect [them from their customers] but function as a catalyst. “That is our philosophy, how to empower society, not just provide more convenience.” Earlier this month it emerged that money laundering in Japan has been rife over the past year. The Japan Times reported that more than 7,000 money laundering cases involving digital assets were reported to the police in 2018. This marks a 1,000% rise from 2017, when just 669 cases were reported in a shorter period between April and December. Among the 7,096 suspicious transactions, some of the suspects were found to be using the same ID photos despite using different names and dates of birth, while others had sent the transactions from overseas despite being registered as living in Japan. In total, of the 417,465 cases of suspected money laundering that were reported to authorities, just 1.7% of them involved cryptocurrency. The post Japan Yahoo backs new cryptocurrency exchange appeared first on Coin Rivet . || Crypto Exchanges Huobi and Fisco Investigated by Japan Watchdog: Report: Cryptocurrency exchanges Huobi Japan and Fisco are said to have been investigated by the country’s financial watchdog last week. A Reuters report on Tuesday, citing “two sources familiar with the matter” said that the Financial Services Agency (FSA) visited the two exchanges to assess their customer protection and anti-money laundering (AML) provisions. Japanese exchanges run by the two firms have recently seen big changes at the management level, and the FSA investigation was aimed to ensure whether adequate compliance measures are in place under the new regimes, according to the sources. Hacked Crypto Exchange Zaif Resuming Full Services Under New Owner Through the acquisition of licensed cryptocurrency exchange BitTrade, Huobi Group expanded its trading services to Japan last September. Fisco, on the other hand, has just become the owner of the Zaif exchange, previously managed by Tech Bureau. After a major hack last September, the previous owner, Tech Bureau, moved to sell the business to Fisco for $44.7 million. In the breach , Zaif lost approximately $62.5 million in bitcoin (BTC), bitcoin cash (BCH) and monacoin (MONA). Since then, registration of new members had been suspended, while trading, depositing and withdrawing MONA had been on hold. The official transfer of the exchange to Fisco took place on Monday and full services resumed today. Tennis Star Serena Williams Reveals Investment in Coinbase Japan is one of the few countries to recognize bitcoin as a legal method of payment. The country passed a law in April 2017 that also brought cryptocurrency exchanges under anti-money laundering (AML)/know-your-customer (KYC) rules and mandated platforms to be licensed. Japanese flag image via Shutterstock Related Stories South Korean Crypto Exchange Coinnest Announces Closure Bakkt Exchange May Be Seeking New York License for Crypto Custody: Report || Stellar and Coinbase’s $50 giveaway program looks like a pyramid: Coinbase Earn is giving away one billion Stellar Lumens (XLM) tokens from the Stellar Development Foundation to millions of eligible (and initially US-based) users to teach them about the Stellar protocol. If you aren’t a Coinbase customer but want a part of the free $100 million airdrop, giveaway hunters can also sign up to a waitlist to get access to the program. To receive the first $10, users will need to complete five lessons that each unlock $2 worth of Stellar, which is calculated live based on the spot value of XLM at the time. Today we’re launching our biggest Coinbase Earn opportunity yet. Any eligible US user can now learn about the Stellar protocol while earning up to $50 of XLM: https://t.co/omqa0Xuqhd pic.twitter.com/QNne9mScX9 — Coinbase (@coinbase) March 26, 2019 If, however, you want to unlock that bigger prize of $40, you need to send your referral link to four other people before you get your extra XLM tokens to potentially dump back into the Coinbase exchange for BTC or fiat. Some people weren’t so keen to see the news about another exchange giving away a set of ‘free tokens’. DJ Booth, the creator of the Bitcoin and Lightning-based Patreon competitor Tallycoin , stated that no entity should be able to “print your own money, give it away for free, then look to profit after”. On the other hand, Coinbase does see some intrinsic utility in the XLM token that it refers to as “Lumens”. In a recent blog post, the exchange said: “Lumens can be used for sending money to people overseas or as a bridge currency between tokens on the Stellar network. An account must also hold a small stake of Lumens for every other Stellar token it holds. Because it’s blockchain-based, people can hold the XLM cryptocurrency locally on their laptop or phone even if they lack a bank account.” Story continues Is it possible to make a quick buck? At the time of writing, it is not yet known whether you need to complete KYC to be able to withdraw the free funds out in crypto or, if KYC is required, then potentially what requirements you need to fulfill before you can withdraw your funds (for example, you may require a linked fiat bank account). If the program catches on, you could see CTO of Coinbase Balaji Srinivasan’s prophecy fulfilled, as the 38-year-old recently tweeted that he had “turned Coinbase Earn into a new way to onboard millions of users into crypto” and to the Coinbase platform. You can now earn Basic Attention Tokens (BAT) through the new Coinbase learning platform By Nawaz Sulemanji – March 28, 2019 On the other hand, if it doesn’t work, a potential ‘ Loopholer ‘ could develop a program to automate the process of completing the learning modules and referring users to claim a chunk of the one billion XLM tokens on offer (currently valued at $100 million). Compared to the current overall $2 billion-plus market cap of the pre-mined crypto heavyweight, the giveaway does seem big. But just last year, the Stellar foundation dropped a similar amount of tokens free of charge to Blockchain.com wallet holders. In reality, the constant need to pass captcha challenges will most likely thwart any attempt to steal and dump the free tokens on offer for learning. However, pyramid-shaped learning scheme or not, if the program can incentivise a few extra people to learn about the basics of blockchain, and even what it may mean to be decentralised, it may not be such a bad thing after all. (Just don’t forget to use one of the free shill links under the official announcement to give someone else their free $10 worth of XLM too!) The post Stellar and Coinbase’s $50 giveaway program looks like a pyramid appeared first on Coin Rivet . || This Billionaire Investor is More and More Bullish in Crypto and Bitcoin: Galaxy Investment Partners CEO Mike Novogratz, a former Wall Street giant, is staying bullish on bitcoin> | Source: Photo by Evan Agostini/Invision/AP By CCN.com : Michael Novogratz, the billionaire founder of Galaxy Digital formerly of Fortress Investment Group, has said he has become much more bullish in bitcoin and crypto in recent months. I am more and more bullish BTC and our whole space, he said despite the bitcoin price being down about 74 percent from its all-time high. Why Investors are More Bullish in Bitcoin Now In many ways, the crypto sector has demonstrated strong efforts to move towards the right direction to create a more secure, transparent, and regulated market. Companies like Binance, the worlds largest crypto exchange, stepped up efforts to prevent money laundering with its new partnership with Ciphertrace and Gemini, a major U.S.-based crypto exchange, obtained insurance from Aon to better protect user funds. Such efforts led to an inflow of capital from accredited and institutional investors who now feel comfortable investing in the relatively new asset class. Earlier this week, Global Custodian and The TRADE Crypto in partnership with BitGo released a survey that found 141 endowments out of 150 in the U.S. already invested in the crypto market. Jonathan Watkins, managing editor, Global Custodian and The TRADE, said: Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
#BTCUSD Market #1H timeframe on March 15 at 18:00 (UTC) is #Bullish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Top 5 Cryptocurrencies - Current Prices
$BTC: $4,986.37 - Bitcoin -0.54%
$ETH: $161.02 - Ethereum -1.00%
$XRP: $0.340213794 - XRP -0.58%
$LTC: $85.86 - Litecoin -1.07%
$BCH: $293.51 - Bitcoin Cash -1.88% || Introducing BLOCKCARDS...
First autographable Ethereum NFT (ERC-721)
*Teaser*
#Ethereum #ERC721 #NFT #Bitcoin #Crypto #blockchain @VitalikButerin @ethereum https://t.co/O3MLHD5B3b || 2019/04/06 02:00
#Binance 格安コイン
1位 #NPXS 0.00000015 BTC(0.08円)
2位 #BTT 0.00000016 BTC(0.09円)
3位 #DENT 0.00000018 BTC(0.1円)
4位 #BCN 0.00000022 BTC(0.12円)
5位 #HOT 0.00000027 BTC(0.15円)
#仮想通貨 #アルトコイン #草コイン || Total Market Cap: $188,477,509,914
1 BTC: $5,934.12
BTC Dominance: 55.7%
Update Time: 07-05-2019 - 08:00:05 (GMT+3) || 現在の1ビットコインあたりの値段は621,372.3997円です。値段の取得日時はApr 23, 2019 10:07:00 UTCです #bitcoin #ビットコイン || Cotización del Bitcoin Cash: 262 60.€ | -0.08% | Kraken | 19/04/19 05:00 #BitcoinCash #Kraken #BCHEUR || The #Bitcoin 10-year Journey https://t.co/omFIAYs1CF https://t.co/0h1LvZs76e || Empresários e pessoas, caso queiram patrocinar nosso projetos
Somos um magazine conservador com mentes brilhantes
https://t.co/VN1HtWo2h7
Formas:
contato@vidadestra.org (depósito bancário )
#DireitaUnida
Endereço Bitcoin correto:
1PriKDqDVL9xNMp2894VRZvP28oHidL42R || $SNTVT trading live on @Aurora_dao . Already 37 ETH support after just a few hours. Slightly over 1 million mcap - great team, great project, very active. Awesome to be in this so early. CEX announcement coming soon! Good work @sentivate
$btc $eth $crypto https://t.co/7SM6bf2o9X
|
Trend: up || Prices: 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-09-19]
BTC Price: 10266.42, BTC RSI: 48.73
Gold Price: 1498.40, Gold RSI: 49.38
Oil Price: 58.13, Oil RSI: 53.75
[Random Sample of News (last 60 days)]
Nearly 10% of India’s richest investors are looking to increase allocation to cryptocurrency: India's richest investors are looking to ramp up their allocation to cryptocurrencies, as concerns about a slowdown in the economy grip the nation. As reported by Quartz, about 36% of India's high-net worth individuals are pessimistic about the Indian economy over the next three years, citing data from Hurun Report. That fact is pushing them to invest in safer and alternative assets, namely real estate. A similar percentage of people say they are avoiding risk altogether when it comes to their future investing. Still, despite the desire for risk-off assets, 9% of wealthy Indians said they would increase their allocation to cryptocurrencies over the next three years. Nearly half of the respondents said they don't know much about virtual currency, per the report. Among those who were educated about it, the largest group indicated a preference to invest in Bitcoin (29.15%); the next 8.74% preferred Ethereum and 6.80% would like to invest in Ripple. Still, the volatility of cryptocurrencies, including bitcoin, could prevent it from becoming a so-called safe haven asset class, as noted by The Block's Ryan Todd . "Looking at average 30-day rolling volatility, bitcoin has seen an average 12.4% annualized 30-day volatility over the last five years, and currently sits just under 20%. Compare that to treasuries at ~.50%, and even the S&P 500 and gold at 2.5%, and you can see why there was a collective push-back on the notion that bitcoin offers 'safety,'" Todd wrote in August . || IRS Warnings to Bitcoin Traders Offer Clues to Coming Tax Guidance: The Takeaway:
• The IRS’ recent warning letters to 10,000 traders offer hints at what its forthcoming guidance on crypto taxes might say.
• While the letters are not guidance, the tea leaves indicate the IRS might be changing its required methods for calculating the value of crypto holdings and the forms and schedules for reporting them.
• Major questions remain unresolved, including how hard forks and airdrops should be treated.
As U.S. cryptocurrency users eagerly await tax guidance from the Internal Revenue Service (IRS), they can find hints of what may come in the agency’s recent warning letters.
The tax collector said earlier this year that its first guidance on crypto since 2014 iscoming,but it’s not clear what information will be providedor when it will be published. (IRS Commissioner Charles Rettig saidat the end of Maythat guidance could come “within the next 30 days,” but that loose deadline passed.)
Related:North Carolina Congressman Reintroduces Crypto Tax Bill
Yet thethree form letters, sent last month by theIRSto more than 10,000 crypto traders, asked taxpayers to verify that they filed their taxes due on crypto gains and losses correctly, or amend their tax filings (one under penalty of perjury). And reading between the lines, the letters suggest changes in the agency’s approach to the asset class when compared to past public statements.
Take, for example, how thethreenewlettersinstruct traders to calculate the fair market value of cryptocurrency holdings.
The letters tell traders to look at the exact date and time they conducted a transaction, diverging from itsguidance from 2014, which said to apply “the exchange rate, in a reasonable manner that is consistently applied.”
As an illustration, say you bought 5 bitcoin onApril 10, 2015. The 2014 guidance says to pick a price at some point during the day and use that to calculate fair market value. Bitcoin opened at a price of $243.69, fell as low as $232.77 and closed at $236.07, according to CoinMarketCap. Any of these prices could work, as long as all calculations for all taxes were consistent.
Related:IRS Says It’s Sending Warning Letters to US Cryptocurrency Owners
The recent letters instead direct you to look at the exact time you bought the 5 bitcoin and use the price at that time to calculate the value.
That’s more sensible, in the view ofJames Foust, a senior research fellow at industry advocacy group Coin Center.
“If someone has multiple transactions over the course of a day and there’s significant volatility it doesn’t make sense to apply the same daily exchange rate, and also it could result in some weird outcomes,” Foust said.
However, this may pose an issue for traders who now have to find this information, said Sean Ryan, chief technology officer and co-founder at crypto tax software provider Node40.
He noted that the letters call for taxes on transactions conducted between 2013 and 2017, adding:
“Now they say date and time and that does matter because we know that virtual currencies fluctuate minute-to-minute, trade-to-trade. So by saying it’s no longer susceptible to ‘date accurate’ and has to be ‘date and time accurate’ it throws a wrench in the system because they have to go back and find that [information].”
The letters also diverge from past efforts to collect information about crypto traders.
The IRS has previously asked exchanges to generate 1099-K forms for customers, which are usually used for payment settlement organizations, Foust noted, meaning merchants receiving revenue through a particular income stream.
“That’s not helpful for paying taxes because the overwhelming majority of [customers] are not receiving payments on exchanges, they’re buying digital currencies,” he said. It could also lead to confusion with buys and sells. Foust explained:
“Say you buy for $10,000 and sold for $9,000, the IRS would see that as you received a payment for $9,000, not a $1,000 loss.”
“It’s not super-clear why the IRS … decided to get the exchanges to use the 1099-K form to report this customer information but that’s sort of the world that we’re in right now,” Foust added.
The exchanges generating the 1099-K forms would provide them to both the taxpayer and the IRS, but the information included “is almost never going to be correct,” Ryan said.
By specifying a different schedule, and therefore different form, in one of the letters, the IRS is essentially saying that the correct form is actually the 1099-B, he said.
According to Ryan, one of the schedules listed in one of the letters is Schedule D, which is for reporting gains and losses from capital assets.
The letter itself notes that “if you sold, exchanged, or disposed of virtual currency (e.g. Bitcoin, Ether), or used it to pay for goods or services, you have engaged in a reportable transaction.”
The information that needs to be reported would be listed inform 8949, which in turn would normally derive its data from the 1099-B, Ryan said.
Foust added that if an exchange were to provide a 1099-B, “you often don’t have to [fill out] form 8949 at all because the 1099-B is supposed to give you all that information.”
Like with the 1099-K, exchanges would also provide that information to the IRS.
Foust noted that the IRS’s letters are not actual guidance, but still, “it’s nice guidance to get.”
“It’s the kind of thing you would hope would come in the form of guidance and not in the form of educational letters sent to a few thousand taxpayers and [everyone else] has to read the tea leaves,” he added.
Lisa Zarlenga, a partner at law firm Steptoe & Johnson who focuses on taxes and related issues, said it is likely that the IRS group developing new guidance is not coordinating with whichever team wrote the letters. Any new guidance will have to pass through several layers of approval, including the U.S. Treasury Department (which the IRS falls under).
Any individual who received a letter likely did so because the IRS has evidence that they made cryptocurrency trades, she said.
“Some people are complaining, ‘well you haven’t issued guidance, therefore, you shouldn’t be enforcing,’” she said. “These letters are saying ‘if you use virtual currency and you made a gain from it you should be reporting.’”
The IRS did not respond to a request for comment by press time.
Zarlenga said the letters may not be inconsistent with past guidance. In her view, the IRS is most likely just looking for individuals who did not report any gains or losses from crypto transactions, despite having conducted them.
“I don’t think this indicates a change in their position at all. I think these letters are getting at basic reporting on gains and losses in the use of cryptocurrency,” she said.
By and large, last month’s letters aren’t even “treading new ground,” Zarlenga said. Taxpayers need to be able to indicate when they bought a cryptocurrency, when they sold it, how much it cost when they bought it and how much it cost when they sold, the letters said.
The U.S. is in good company trying to collect taxes from its crypto-trading residents. The U.K.’s HM Revenue and Customs recently asked crypto exchanges toprovide information about their customers, including transaction history, while the Australian Tax Organization announced in April it would collect data to helpensure residents paid the appropriate amount of tax.
All three countries are members of the J5,a multinational collaboration between tax agenciesto combat money laundering and other illicit behavior. Cryptocurrencies are one stated focus for the group.
Since its first (and so far only) official guidance on crypto taxes in 2014, the IRS has offered glimpses as to how taxpayers can file returns through other actions, such as its requests for information from exchanges like Coinbase.
However, even last month’s warning letters leave some of the largest questions around paying taxes on crypto unanswered, Foust said.
“We’re sort of in an unfortunate situation right now because the IRS hasn’t provided substantive guidance on how people are supposed to report their virtual currency transactions and calculate what their tax burden is,” he said.
The implications, he added, are:
“People are being put in a position where they’re being asked to certify in one of those letters certify under penalty of perjury that they’ve [abided by] rules that haven’t been published yet.”
The most obvious question revolves around forks, or events that create a new cryptocurrency available to holders of an old one, Ryan said.
“The IRS has been completely silent on ‘now is that income? You just doubled your quantity, not your value, your quantity,’” he said. “If they’re going to consider that income they have to tell you how to assign cost basis because there’s no trading history.”
In his view, forks should not be considered income.
Likewise, the tax treatment of airdrops, or giveaways of a cryptocurrency to spur adoption, remains an open question.
Depending on the circumstances, a taxpayer may or may not be able to opt in to receiving tokens through an airdrop.
If a wallet provider or other service automatically airdrops tokens to all users, Ryan said, that should not be considered income.
On the other hand, he said, “if you opt in to an airdrop I think you should report that as income.”
IRSimage via Shutterstock
• IRS Confirms It Trained Staff to Find Crypto Wallets
• What to Expect When the IRS Alters Its Bitcoin Tax Policy || Bitcoin Short of Bull Target Despite Five Days of Price Gains: View Bitcoins five-day winning run, the longest in a month, has neutralized the short-term bearish view. A UTC close above the lower high of $10,956 created on Aug. 20 is needed for a bullish revival. Volumes picked up on Tuesday, adding credence to Mondays triangle breakout on the daily chart. So, a rise to $10,956 may be on the cards. The probability of a move above $10,956 would weaken if the prices drop below key the crucial support at $10,286 on the hourly chart. Acceptance below that level could yield a deeper drop into four figures. Bitcoin (BTC) has charted its longest daily winning run in a month, but is yet to confirm a short-term bullish revival with a move above key resistance near $11,000. The premier cryptocurrency eked out 2.24 percent gains on Tuesday, having risen by 0.95, 0.15, 1.81, and 6.32 percent on Friday, Saturday, Sunday, and Monday, respectively, according to Bitstamp data. That five-day winning streak is the longest since early August. Back then, BTC rallied over the seven straight days from July 30 to Aug. 5. Related: Bitcoins Total Share of Crypto Market Now Highest Since March 2017 The longest daily winning run of 2019 is the eight-day rising trend observed from July 19 to July 26, which produced a rally from $9,000 to a 17-month high of $13,880. With the latest five-day upwards climb, BTC has largely recovered its drop from the Aug. 21 high of $10,807 to a one-month low of $9,320 on Aug. 29. The cryptocurrency clocked a high of $10,807 yesterday and was changing hands at $10,570 at time of writing (prices from Bitstamp). The bounce has neutralized the short-term bearish view put forward by the range breakdown witnessed on Aug. 28 and the outlook would turn bullish if prices print a UTC close above $10,956 (Aug. 20 high), invalidating the lower-highs setup, as discussed yesterday. The probability of BTC challenging $10,956 has increased in the last 24 hours, according to the technical charts. Daily chart Related: Bitcoin Averts Bearish Trend Change But Stalls Beneath Key Price Average Story continues BTC jumped 6 percent on Monday, confirming an upside break of a descending triangle pattern, a bullish development. Mondays move lacked volume support and looked unsustainable. Prices, however, rose to a 13-day high of $10,783 yesterday with buying volume (green bar) hitting the highest level since Aug. 15 the day BTC charted a quick recovery from $9,467 to levels above $10,000. Thats given the triangle breakout credence and prices could rise to $10,956 in the next day or two. Supporting the bullish case is the moving average convergence divergence (MACD) histograms move above zero and an above-50 reading on the relative strength index (RSI). The 5- and 10-day moving averages have also produced a bullish crossover. A high-volume daily close above $10,956 would open the doors to the next major resistance lined up at $12,000. Hourly and weekly charts BTC is trapped in a falling channel on the hourly chart (above left) and is currently bouncing up from the rising trendline support. An upside breakout an hourly close above the upper edge of the channel at $10,637 would imply a resumption of the five-day winning run and further boost the prospects of a move above the bearish lower high of $10,956. The bullish case, however, would weaken if prices find acceptance below the rising trendline and dive below $10,286 (horizontal support line). That would shift the focus back to the bearish indicators on the weekly chart (above right) and could yield a deeper drop to levels below $10,000. On the weekly chart, the 5- and 10-week MAs have produced a bearish crossover and the MACD histogram is reporting bearish conditions for the first time since February. Other indicators are also biased bearish, as discussed yesterday. Disclosure: The author holds no cryptocurrency assets at the time of writing. Bitcoin image via Shutterstock; charts by Trading View Related Stories Top 10 Cryptocurrencies Now Trading Below 200-Day Price Averages Bitcoin Price Faces Third Monthly Loss of 2019 || Bitcoin Inches Up; China Says Its Cryptocurrency “Is Ready”: Investing.com - Prices of Bitcoin inched up on Monday in Asia. While not a directional driver, the People’s Bank of China (PBOC) said its digital currency “can now be said to be ready.”
Bitcoin inched up 0.1% to $11,409.8 by 12:14 AM ET (04:14 GMT). Ethereum gained 1.1% to $212.66, while XRP traded 1.0% to $0.30274 and Litecoin jumped 2.4% to $88.630.
According to Cointelegraph, which cited local news site Shanghai Securities News, PBOC deputy director Mu Changchun has said at the “China Finance 40 Forum” that a new digital currency using pure blockchain architecture has now been successfully developed after five years of research.
The unnamed new coin will adopt a “two-tier operating system” to cater to China’s “complex economy with a vast territory and a large population,” Mu said, noting that the central bank will operating on the upper level, while commercials bank will be on the secondary level.
According to the PBPC executive, the digital currency will be useful for “small-scale retail high-frequency business scenarios.”
Major cryptocurrency prices gained last week, as some analysts have suggested that bitcoin is set to capitalized on the flight-to-safety trade as U.S. President Donald Trump and Beijing look set to deepen their trade rift.
On Monday, Trump said he is “not ready to make a deal” with China and that it would be “fine” if Chinese negotiators call off the scheduled meeting between the two sides next month.
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Hodler’s Digest, Aug. 5–11: Naughty North Korea, India’s Bombshell, LTC Flops || Market Volatility Has Eased But Demand for Protective Assets Remains Strong: The official yuan exchange rate is set at 7.0211 compared to the offshore rate at 7.09. At the same time, there is still demand for safe havens: USDJPY trades at 105.40 – at lows since March 2018; USDCHF – at 0.9710, which is the lowest level since September 2018. Gold retreated somewhat below $1500 but remains close to six-year highs. The Australian and New Zealand dollars have been declining against USD since this morning, but they have reversed the losses following the stabilisation of the markets. “Pound pounded” GBPUSD closed the week at 1.2027, the lowest close of the day since 1985 on the background of intensifying fears of Brexit without a deal. Sterling has fallen to its lowest level against the euro since 2009. The new wave of decline was triggered by the comments of the new Foreign Secretary Dominic Raab, that the exit without a deal gives Britain an opportunity to bargain in the future. The pound sells against the dollar and the euro, while the forecasts for a possible reaching of 1.10 against the dollar and parity with the euro sound louder and louder. Stocks are recovering The U.S. S&P500 quickly bounced back last week after touching the 200-day average, but the recovery was stalled on the way to the 50-day average of 2925. The dynamics above this level can be a very clear signal of the market optimists’ dominance. However, the markets are cautiously looking towards a possible further escalation of the trade disputes, which may lead to a new wave of selloffs in the markets. The current situation on the markets can be characterised as the centre of the storm – a short moment of calm between the bursts of market fears. EURUSD The single currency still fluctuates in a narrow range around 1.1200 . By the end of the week, the fluctuation amplitude was decreasing, reflecting the consolidation of the markets before a possible new breakthrough. Such a calmness can also be explained by the summer lull, which reaches its maximum in August. After the explosion of volatility in the previous two weeks, EURUSD markets may try to find a balance before the end of the month. Story continues This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 12/08/19 Stellar’s Lumen Technical Analysis – Support Levels in Play – 12/08/19 A Lack of Stats Leaves Market Focus on Trade and Italy Geopolitical Risk and the Never Ending Cycle of Drama EUR/USD Mid-Session Technical Analysis for August 12, 2019 Price of Gold Fundamental Weekly Forecast – Pay Attention to Yuan, Global Bond Yields || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 01/09/19: Bitcoin Cash ABC Back in the Red Bitcoin Cash ABC rose by 0.86% on Saturday. Reversing a 0.11% fall from Friday, Bitcoin Cash ABC ended the month down 14.3% at $281.14. A relatively choppy day saw Bitcoin Cash ABC fall from an early morning high $279.84 to a late intraday low $273. In spite of the sell-off, Bitcoin Cash ABC steered clear of the first major support level at $272.64. A late rally saw Bitcoin Cash ABC come within range of the first major resistance level at $284.68 with an intraday high $284.39 before easing back to $281 levels. At the time of writing, Bitcoin Cash ABC was down by 0.41% to $279.98. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $280.65 before falling to a low $278.73. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, a move back through to $280 levels would support a run at the first major resistance level at $286.02. Bitcoin Cash ABC would need the support of the broader market, however, to break out from Saturdays high $284.39. Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of the second major resistance level at $290.09. Failure to move back through to $290 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $276 levels would bring the first major support level at $274.63 into play. Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$270 support levels. Litecoin on the Move Litecoin gained 0.26% on Saturday. Following on from a 1.12% rise on Friday, Litecoin ended the month down 34.95% at $64.35. Tracking the broader market, Litecoin rose to an early morning high $64.59 before sliding to a late intraday low $62.39. Falling short of the major resistance levels, Litecoin came within range of the first major support level at $62.33. Finding support from the broader market, Litecoin struck a late intraday high $65.33 before easing back to $64 levels. In spite of the late rally, Litecoin fell short of the first major resistance level at $65.83. Story continues At the time of writing, Litecoin was up 0.79% to $64.86. A bullish start to the day saw Litecoin rise from an early morning low $64.33 to a high $65.32 before easing back. Litecoin left the major support and resistance levels untested early on. For the day ahead, a move back through to $65 levels would bring the first major resistance level at $65.66 into play. Litecoin would need the support of the broader market, however, to break out from Saturdays high $65.33. Barring a broad-based crypto rally, Litecoin would likely come up short of $66 levels for a 3 rd consecutive day. Failure to move back through to $65 levels could see Litecoin test the first major support level at $62.72. Barring a crypto meltdown, Litecoin should steer clear of the second major support level at $61.08. Ripples XRP Struggles at $0.26 Ripples XRP rose by 1.01% on Saturday. Reversing a 0.59% fall from Friday, Ripples XRP ended the month down 19.2% at $0.25861. A relatively bullish morning saw Ripples XRP rise from a low $0.25523 to a high $0.2586 before hitting reverse. Coming up against the first major resistance level at $0.2581, Ripples XRP slid to a late intraday low $0.25357. Finding support at the first major support level at $0.2536, Ripples XRP bounced back to an intraday high $0.26101. Ripples XRP broke back through the first major resistance level to come up against the second major resistance level at $0.2602. A late pullback left Ripples XRP back at $0.25 levels. At the time of writing, Ripples XRP was down by 0.3% to $0.25784. A mixed start to the day saw Ripples XRP rise to an early morning high $0.25971 before falling to a low $0.25715. Ripples XRP left the major support and resistance levels untested early on. For the day ahead, a hold onto $0.2570 levels would support another run at the first major resistance level at $0.2619. Ripples XRP would need the support of the broader market, however, to break out from Saturdays high $0.26101. Barring a broad-based crypto rally, Saturdays high and first major resistance level at $0.2619 would likely limit any upside. In the event of a breakout, Ripples XRP could test the second major resistance level at $0.2652 before any pullback. Failure to hold onto $0.2570 levels could see Ripples XRP struggle on the day. A fall through to $0.2560 levels would bring the first major support level at $0.2545 into play. Barring a crypto meltdown, Ripples XRP should steer clear of the second major support level at $0.2503 on the day. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Forex Technical Analysis Next Major Downside Target Bottom 1.0838 Transportation Index Points to Stock Markets Weakness Brexit Update Whats next? The Crypto Daily The Movers and Shakers 01/09/19 Natural Gas Price Futures (NG) Technical Analysis Will Seasonal Pressure Force Shorts to Cover? Crude Oil Price Update Strengthens Over $54.93, Weakens Under $54.46 || Crypto Gains; Binance Acquires Crypto Options Trading Platform: Investing.com – Major digital coins all made moderate gains on Tuesday in Asia, with Bitcoin surpassing the $10,000 level.
Bitcoin rose 5.87% to $10,388.1 by 11:17 AM ET (03:17 GMT). The digital coin gained momentum overnight to reach the $10,000 mark, the highest level of the week.
Meanwhile, Ethereum also gained 4.06%. XRP was up 1.88%, and Litecoin grew 1.34%.
Binance, the world’s largest cryptocurrency exchange, said it has acquired crypto-asset trading platform JEX, which will be rebranded as Binance JEX. The exchange will provide derivatives products, including futures, options, and perpetual contracts.
“JEX will join the Binance ecosystem as Binance JEX and focus on further building the cryptoasset derivatives market, providing Binance users with professional services including futures contracts, options and other derivative products,” Binance said in a statement.
JEX boasts itself as the world’s first blockchain asset transaction platform to initiate Bitcoin options trading and other crypto options trading. It offers options on Bitcoin, Ethereum, Litecoin and EOS.
At the same time, Binance also launched two test platforms for its planned crypto futures products, and users can vote for their favourite futures testnets. The exchange also said it will launch crypto lending products, allowing users to earn interest from Binance Coin, Tether and Ethereum Classic.
Further heavyweight news from Asia is that Thai crypto exchange Bitcoin Co. has decided to shut down after running for five years. All trading on the exchange will stop from Sep 30, and all deposits will be disabled after Sep 6.
“Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at our BX.in.th website in order to focus on other business opportunities,” it said in a statement.
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Indian IT Giant Tech Mahindra to Launch Blockchain Finance Management || Bitcoin Climbs Above 11,316.7 Level, Up 6%: Bitcoin Climbs Above 11,316.7 Level, Up 6% Investing.com - Bitcoin rose above the $11,316.7 threshold on Saturday. Bitcoin was trading at 11,316.7 by 18:56 (22:56 GMT) on the Investing.com Index, up 6.42% on the day. It was the largest one-day percentage gain since July 16. The move upwards pushed Bitcoin's market cap up to $202.7B, or 68.56% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $11,281.6 to $12,185.0 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a rise in value, as it gained 4.69%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $18.1B or 32.06% of the total volume of all cryptocurrencies. It has traded in a range of $10,568.7744 to $12,291.9395 in the past 7 days. At its current price, Bitcoin is still down 43.05% from its all-time high of $19,870.62 set on December 17, 2017. Elsewhere in cryptocurrency trading Ethereum was last at $205.76 on the Investing.com Index, down 1.12% on the day. XRP was trading at $0.29875 on the Investing.com Index, a gain of 1.29%. Ethereum's market cap was last at $22.2B or 7.50% of the total cryptocurrency market cap, while XRP's market cap totaled $12.8B or 4.32% of the total cryptocurrency market value. Related Articles Cardano Climbs 10% In Bullish Trade Who Is David Marcus: Bitcoin Believer Turned Facebooks Libra Boss US DOE Dedicates $1.05 Mil to Blockchain Energy Management Platform || Digital Currency Execs: Bakkt's Imminent Launch Signals Institutional Participation In Crypto: Bakkt, a subsidiary of New York Stock Exchange owner Intercontinental Exchange, has finally announced a launch date for its physically delivered Bitcoin Futures: Sept. 23. This could signal the beginning of institutional participation in crypto, according to industry players. The U.S. Commodity Futures Trading Commission gave the green light to launch the company. User acceptance testing has begun, Bakkt CEO Kelly Loeffler said in a statement posted on Medium. "With approval by the New York State Department of Financial Services to create Bakkt Trust Company, a qualified custodian, the Bakkt Warehouse will custody bitcoin for physically delivered futures," she said. "This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure." Why It's Important Guy Hirsch, managing director of eToro U.S., said Bakkts clearance to launch not only signals imminent institutional participation in crypto markets, but a new level of understanding and approval from regulators specifically the New York Department of Financial Services. As regulators continue to approve more projects, industry participants are gaining a clearer understanding of what is required in order to build out digital asset offerings for U.S. investors, Hirsch said. Hirsch said he hopes to see the New York Department of Financial Services continue to foster a more competitive environment for businesses, and added that New York is the financial center of the world. The state is in a great position to maintain that title if regulators can build frameworks that are inclusive of emerging technologies like digital assets, he said. The Thirst To Be First Vaibhav Kadikar, founder and CEO of CloseCross, a decentralized prediction markets platform, said LedgerXs Bitcoin Futures offering was not approved by the CFTC, contrary to earlier reports . In the long run, it wont matter who brings the product first to market. The difference will be in the execution and the customer experience, as well as other services clients can get out of the same platform, Kadikar said. Story continues Bakkt's ties to ICE and New York state approval are increasing the anticipation around the offering, he said. The highly anticipated offering from Bakkt bears more weight due to its ties with ICE, in addition to approval from the New York State Department of Financial Services to create the Bakkt Trust Company, a qualified custodian," Kadikar said. "Bakkt is better-positioned due to it being a trust that can provide a wider set of services and products, carrying with it custodian credibility to provide to institutions." By operating as a trust in the state of New York, Bakkt has a lot of flexibility compared to competitors to enter adjacent markets and perform the roles of exchange traded fund provider, asset manager and the like, he said. "Bitcoin Futures have been making the headlines since CME launched Bitcoin Futures at the height of the 2018 boom, but not necessarily for the right reasons. Around the world, influential financial authorities have been rigorously scrutinizing the implications of crypto derivatives." The launch of Bakkt could result in more assets flowing to Bitcoin, the CEO said. Following the launch, price discovery through futures instead of spot markets could dramatically shape spot prices. Pending the launch, this has the ingredients for more capital influx into the Bitcoin market, bringing us one step closer to institutional adoption." Price Action Bitcoin was trading 2.13% higher at $10,326.86 at the time of publication Monday. Related Links: 'A Framework': UK Issues Cryptocurrency Guidance As Facebook Prepares To Launch Libra, Regulators Are Watching See more from Benzinga OSI Systems Reports Q4 Earnings Beat Addus HomeCare Will Acquire Hospice Partners For 0M Verisk To Acquire Genscape For 4M © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Five retailers/brands that are all about the blockchain right now: Alibaba Group The People’s Bank of China is set to give its first round of central bank digital currency (CBDC) to Alibaba Group and seven others, including internet giant Tencent. According to a report by Forbes , the other beneficiaries will be China Construction Bank, the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China, Chinese banking association Union Pay and an unnamed organisation. An anonymous source claimed that the technology was ready to ship, and that the ‘DC/EP’ (Digital Currency/Electronic Payments), as it has been dubbed, could roll-out as early as 11th November, China’s busiest shopping day, aka Singles Day. The recipient institutions will then be responsible for dispersing the cryptocurrency to 1.3 billion Chinese citizens and others doing business in the renminbi, China’s fiat currency, according to the source. They added that the central bank hopes the currency will eventually be made available to consumers in the US and elsewhere through relationships with correspondent banks in the west. Manchester City Manchester City has partnered with South Korean football gaming startup Superbloke. As a result, it will become Man City’s official blockchain-based Gacha partner in Korea, Japan and South East Asia. Superbloke will also incorporate the Premier League club’s players into its blockchain-powered FC Superstar online game. This lets users build a team by collecting, training and growing specially designed Man City digital player cards using real-life match stats and in-game training. Damian Willoughby, Senior VP of Partnerships at City Football Group, comments: “This new partnership marks another exciting milestone in City’s growing relationship with gaming and will create unique experiences for fans to engage with the club through digital platforms. We look forward to welcoming Superbloke to the Manchester City family and growing our knowledge of this developing industry through this partnership.” Story continues Petco Bitcoin rewards app Lolli has teamed up with US pet retailer Petco. There are two types of rewards that come with the partnership. One is that Lolli users can earn up to 3.5% satoshis (sats) of their purchases at Petco.com. They can also earn a flat 5,000 sats payment for sharing a photo of their dog and commenting on the tie up. “We are thrilled to partner with Petco and give our users the opportunity to earn Bitcoin for taking care of their furry friends. Pet food, toys, and treats are recurring costs, and now our users can look forward to Bitcoin rewards for looking after their pets, especially doggies,” says Matt Senter CTO and Co-founder, Lolli. Farmarket Farmarket, a pharmacy chain in Venezuela, is now accepting Dash cryptocurrency payments. An XpayCash PoS system has been deployed within the first pilot stores. This is operated by Panda Exchange and enables instant transactions, thanks to Dash’s InstantSend technology. During the first two months of operation, members of the local Dash team will be on hand to support staff and customers in understanding how the technology works and to answer general questions about Dash and X-PayCash. Roll-out to the entire chain of 22 stores is expected to be complete by the end of 2019. “Innovation supports our core values of serving clients, growth and system development, so being able to offer Dash through XpayCash will allow us to offer the most updated payments technology on the market,” says Cinthya Sagues, General Manager at Farmarket. ”Having the support from the Dash teams directly in the stores will allow us to bring the Dash experience we have seen in many parts of the country into our stores, and we are confident this will translate to a short learning curve and an improved service level to our customers.” “Enabling Dash payments at Farmarket is a massive step in growing our ecosystem of retailers. Dash users can now pay for essential products and medicines at a well-known and trusted pharmacy brand,” comments Ryan Taylor, CEO, Dash Core Group. “We expect our partnership with Panda in Colombia and Farmarket in Venezuela to be a substantial move toward a purchase driven economy, where not only Venezuelans in Caracas will be able to pay directly in stores with Dash, but also their relatives in Colombia and elsewhere will be able to buy medicine from abroad and resolve health issues for their relatives and loved ones.” Migros Switzerland’s largest retailer, Migros, is tapping TE-Food’s blockchain-based traceability system for a project involving its fresh fruit and vegetable supply chains. According to a press release: “Although a growing number of food companies are launching traceability projects, many of them focus only on the marketing advantages by providing transparent food information to their consumers. However, food traceability can provide more value from easier product recalls to improved supply chain control.” “Migros wants to achieve deeper supply chain insight to optimise its processes. Supply chain optimisation can lead to quicker distribution and reduced food waste, which is also part of the European Food Safety Authority’s (EFSA) initiatives for the next years,” it adds. Fresh food suppliers previously communicated traceability data from their legacy systems (ERP, farm management) to Migros via a GS1 standards-based API (EPCIS). This has now been extended to a B2B mobile app, a web app and file uploads, thanks to TE-Food. The system is for internal use and there are currently no plans to open it up to consumers. The post Five retailers/brands that are all about the blockchain right now appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
Top notch project || @TokoinOfficial Very interesting idea, there is a clear plan of action. Do not miss the profit. #Tokoin #MSME #Blockchain #Crypto #cryptotrading #BTC #EmergingMarkets #Ecommerce #retail https://t.co/L1tP4xpFEg || @BitKrabs $BTC || @javisobr @APompliano @PeterSchiff Funny how BTC is 'based on game theory' and it seems Bitcoiners don't understand how fixed supply or zero-sum game works. Second, if BTC price goes up for all, then all, regardless of whether they create any new value or not (or destroy it) 'gain' the same; therefore, no one does || Moon Signal In here
https://t.co/2NuQB72yfM
#BITMEX #BTC #ADA #XRP #BCH #EOS #X10 #X20 $QLC $WTC $IOTA $SALT $EDO $XVG $DENT $NXS $NCASH $MTL $BRD $BCPT $MCO $ARDR $CVC $ZEC $IOTX $BLZ || #asure #asuretoken #tge #ico #crypto #defi || 借金をチャラに
↓詳細はこちら↓
https://t.co/tWwi8a84ac
#副業 #不動産 #案件 #稼ぐ #借金 #ビットコイン #HYPE
#副業 #バイト #借入 #消費者金融 #アコム #レイク #プロミス #bitcoin #ビットリージョン #d9 #借金 #投資 #ビットコイン #旅行 || #仮想通貨 #PLA
Bittrex高騰/暴落 速報(5分前価格と比較)
[BTC-PLA]-7.69%0.000000120 || Send your #LovedOnes a #BITCOIN, #LITECOIN, #ETHEREUM, #MONERO, #NEM, #RIPPLE, #NAMECOIN, #PEERCOIN & #DASH. Select your amazing #Gifts with the #HashDeck for #Business #App for #Android. 🔗 in #Bio https://t.co/YptYVf4RCM || $Lickdeesnuts1 where you at @CashApp gods?! I could use a blessing 🙏🏾 @Ryn0ceros my bitcoin believer for good luck 🙏🏾🙏🏾🙏🏾
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Trend: down || Prices: 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19
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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 2018-11-14]
BTC Price: 5738.35, BTC RSI: 19.57
Gold Price: 1207.90, Gold RSI: 45.48
Oil Price: 56.25, Oil RSI: 16.98
[Random Sample of News (last 60 days)]
Bitcoin and Ethereum Price Forecast – BTC Prices Correct Lower: The BTC prices moved lower back towards the middle of the range only confirming the consolidation and the ranging that we have been seeing in the market over the last few months. Just as there has not been any major reason for the buoyancy and the move higher over the last week, there has not been any major fundamentals or economic news over the last 24 hours to push the prices lower but as a continuation of the consolidation, we are seeing the move lower and this only adds to the woes of the bulls who were looking to push higher and make a statement to the other traders.
The bulls do need to generate some sort of momentum and for this, they need the support of a lot of traders and for the traders, it is important for them to see signs of strength and signs that the bulls are in control and the range would be broken sometime soon for them to enter into the market full of confidence. That has not happened so far and that is why we are seeing the consolidation continue and for now, there has been no signs of the range being broken anytime soon and so the traders have to just continue to wait and watch the market and hope that it breaks out sometime soon and also hope that the volatility is back.
The ETH market continues to remain strong despite the correction in the BTC prices and the ETH prices continue to trade above the $200 region as of this writing. The ETH prices have received a boost due to the developments in the network and this has helped it to recover from its lows.
Get Into Cryptocurrency Trading Today
The prices are expected to continue to consolidate and range over the next 24 hours as well and with the lack of fundamental drivers in the market, it is no surprise if that continues to happen for the short and medium term as well. The range traders are likely to rule the roost for now while the long term traders accumulate and wait on the sidelines.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 25/09/18 || Crypto Markets See Ongoing Mild Losses, Bitcoin Trades Below $6,400: Friday, Nov. 9: crypto markets are continuing to see downward momentum, with virtually all of the major cryptocurrencies at least mildly in the red, as data from Coin360 shows. Market visualization Market visualization by Coin360 Bitcoin ( BTC ) is down just over 1 percent, trading around $6,340 at press time. After a period of protracted stability , the top coin has seen a short-lived burst of price action of late, growing Nov.7 to break above the $6,500 mark. Bitcoin has since corrected downard to trade close to the start of its weekly chart, where it is seeing virtually no price percentage change to press time. On the month, Bitcoin is down a mild 3.6 percent. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin pioneer Jeff Garzik – reportedly the “third-biggest contributor” to Bitcoin’s code and one of Bitcoin creator Satoshi Nakamoto's key collaborators – gave an interview today in which he reflected that: “[Bitcoin] hasn’t evolved in the direction of high-volume payments, which is something we thought about in the very early days: getting merchants to accept Bitcoins. But on the store-of-value side it’s unquestionably a success." The market’s largest altcoin Ethereum ( ETH ) has also sustained a fractional loss, down just over percent to trade at $211. Correlating with Bitcoin, the altcoin saw an intra-week spike at around $220 Nov. 7, and has since jaggedly shed value down to its current price point. Nonetheless, on the week, the asset remains a strong 6 percent in the green, with monthly losses at around 7.2 percent. Ethereum 7-day price chart Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index Most of the remaining top ten coins on CoinMarketCap are in the red, although remaining within a 1-4 percent range. Bitcoin Cash ( BCH ) has taken the heftiest hit among the top ten, down just under 4 percent to trade around $567, as controversies ahead of its forthcoming hard fork – scheduled for Nov. 15 – continue to divide the community. Story continues Another top ten alt shaken by larger-than-average losses is Cardano ( ADA ), down 3.19 percent at $0.074. Altcoins Ripple ( XRP ) and Stellar ( XLM ) are the only top ten coins in the green by press time, both up under 1 percent over the past 24 hours. The top twenty coins by market cap are likewise almost unanimously red, with the exception of the 19th largest crypto, privacy-focused alt Zcash ( ZEC ), which is pushing 3.5 percent growth to trade at around $133. For the remaining coins, losses are capped below 4 percent, with Vechain ( VEC ) and DASH ( DASH ) each on the higher end, down 3.9 and 3.47 percent respectively. Total market capitalization of all cryptocurrencies is around $212.5 billion as of press time, down from an intra-week high of around $220.7 billion Nov. 7, but above the $207-210 billion levels it held throughout much of the past month. 7-day chart of the total market capitalization of all cryptocurrencies 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap In other major crypto news of the day, ConsenSys -backed blockchain startup Kaleido and Amazon Web Services (AWS) have launched a full-stack platform that helps enterprises implement blockchain solutions without starting from scratch. The platform, dubbed Kaleido Marketplace, reportedly “eliminates 80 percent of the custom code” needed to build a given blockchain project. In Asia, Thailand’s securities regulator is set to clear “at least one” Initial Coin Offering ( ICO ) “portal” to operate legally this month, with officials saying that ICOs themselves “might” start being approved as soon as December. Related Articles: Crypto Markets See Widespread Wave of Green, Bitcoin Pushes $6,500 Crypto Markets Placid on 10th Anniversary of Bitcoin Whitepaper Crypto Markets See Mixed Signals After Recent Downturn Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 9 || Bitcoin Magazine’s Week in Review: The Resilience of Bitcoin: Altcoins may come and go; hacks may challenge exchanges; mainstream financial advisors might not get it — but even in the face of a protocol bug, Bitcoin perseveres and develops. Here are this week’s top stories fromBitcoin Magazine.
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry.Subscribe to our newsletter here.
The Good, the Bad and the Ugly Details of One of Bitcoin’s Nastiest Bugs Yet
For well over a year, versions ofBitcoin Core— Bitcoin’s leading software implementation — contained a severe software bug. The bug was fixed withBitcoin Core 0.16.3(and0.17.0rc4), released this week, and the status of the Bitcoin network now appears to be safe, with no harm done. The Bitcoin Core project has since released afull disclosurereport, revealing that the bug was even worse than previously thought.
Our technical editor, Aaron Van Wirdum, takes a look at the good, the bad and the ugly details of the bug that didn’t take down Bitcoin.
Innosilicon’s Impending ASIC Miner Could Challenge Bitmain’s Dominance
Innosiliconclaims to have a new ASIC miner for bitcoin — the T3 — in the works that will outperform any current hardware in speed, profitability and efficiency. Purportedly consuming only 44 watts of power per tera hash (44W/TH), the T3 could become the most energy-efficient miner on the market when it is released.
Crypto Exchange Poloniex Dumps Eight Underperforming Coins
Poloniex has announced its intention to drop 8 altcoins from its trading platform: BitcoinDark (BTCD), Bitmark (BTM), Einsteinium, (EMC2), Gridcoin (GRC), NeosCoin (NEOS), PotCoin (POT), VeriCoin (VRC) and BitcoinPlus (XBC). A spokesperson from Circle, the parent company of Poloniex, toldBitcoin Magazinethat the coins were delisted in keeping with guidelines spelled out in Circle’sAsset Framework.
Battle of the Privacycoins: Verge Offers Little Privacy and Nothing Unique
Another altcoin, Verge, comes under the privacy microscope in this month’s ongoing series about privacy coins. Check out the reasons why it’s not really as private as we’d like it to be.
In First Half of 2018, Japan Counts $540 Million Lost to Crypto Thefts
Another Cryptocurrency Exchange Hack Hits Japan [UPDATED]
The same week that a study was released, detailing the ongoing trouble that Japanese exchanges are experiencing with cryptocurrency thefts, another major exchange announced that is had been hacked. Japanese exchange Zaif was drained of 6.7 billion yen ($60 million USD) worth of company and user funds. The three virtual currencies stolen include bitcoin, monacoin and bitcoin cash. Of those, $37.8 million were in bitcoin funds (5,966 BTC).
Op Ed: Why Your Financial Advisor Won't Talk to You About Bitcoin
Financial advisors should be willing and able to discuss bitcoin and cryptocurrencies with their clients in the same way that they discuss other alternative investments such as gold, hedge funds and real estate investment trusts. But many of them simply don’t. In this op ed, Eric C. Jansen, the founder, president and chief investment officer at AspenCross Wealth Management, looks at some of the reasons why this is the case and why it should change.
This article originally appeared onBitcoin Magazine. || Fed Rate Hikes: Any Surprises?: The US dollar has turned to growth last week following its previous decline in uncertainty. First of all, the risks of unpleasant surprises due to the elections are now gone and the results were close to predictions. Often, subsequent to elections, the currency, and stock market of the country experience some upswing, which was also evident this time, since key American indices added more than 2%. Despite a small decline immediately after the announcement of the election results, the U.S. dollar has turned to growth, adding 1.2% to the Wednesday lows. The growth wave of the dollar on Thursday supported the Fed. Keeping the policy unchanged, the U.S. Central Bank called the economy “strong” and highlighted the need to maintain its course to gradual rates hiking. Regarding the comments relating to the decision, there was only one cautions moment, about slowing business investments. Such an approach has caused yield growth for short-term government bonds that support demand for a dollar as a more yielded currency. The increase in the dollar due to higher interest rates usually has a negative impact on the demand for developing country currencies and commodities. This week we saw a decrease there, despite the growing demand for risks at American exchanges. It won’t be surprising to witness the development of this trend soon, as the events with the greatest potential risks for the dollar (Employment report, Elections, FOMC decision) are already behind. At the same time, it is worth mentioning that over the past month the markets have become less believing that the Fed will produce more than three increases in rates next year. Latest data from CME’s FedWatch tool indicate that investors are considering a 27.8% chance to see more than three hikes, against 31.5% a month earlier. Empowering of this trend could undermine the dollar belief over the long-term perspective. This article was written by FxPro Story continues This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash, Litecoin and Ripple Daily Analysis – 11/11/18 USD/JPY Forex Technical Analysis – In Position to Challenge One-Year High at 114.728 Bitcoin – Bulls Try To Support, But Negative Bias Remains Strength in Dollar Driven by Hawkish Fed, Safe-Haven Buying NZD/USD Forex Technical Analysis – Weekly Outlook: Sustained Move Under .6742 Will Signal Return of Sellers Bitcoin Cash, Litecoin and Ripple Daily Analysis – 10/11/18 || BitMEX CEO: Bitcoin bear market could last 18 months: Bear market: Bitcoin is on track for its worst year ever. Photo: Jean-Francois Monier/AFP/Getty Images The CEO of the worlds largest bitcoin derivatives trading platform believes the current crypto bear market could last a further 18 months. Bitcoin ( BTC-GBP ) surged to a high of over $20,000 (£15,676) in December last year but crashed at the start of 2018 and has traded in a tight range close to $6,300 for the past few months. If the performance persists, 2018 is set to be the worst year on record for bitcoin in terms of percentage decline. BitMEX CEO Arthur Hayes told Yahoo Finance UK: My view is the volatility environment that exists right now could persist for another 12 to 18 months, the flatness. Im just basing it off my previous experience. I started in bitcoin in 2013 when the price went from $250 to $1,300 and then 2014 to 2015 was sort of the nuclear bear market. Price crashed, volume crashed very, very difficult to make money. Former Deutsche Bank and Citi trader Hayes co-founded BitMEX in 2014. The Seychelles-registered platform allows people to take out and trade peer-to-peer bitcoin derivative products such as futures. Hayes, who was speaking to Yahoo Finance UK at an event in London organised by The Spectator magazine, added that he believes conditions could get even worse. He said: We think trading volumes could fall further from where they are now. We are in a bull market While Hayes is bearish on the immediate prospects for bitcoin , others in the industry were more upbeat. Will Warren, the cofounder of decentralised crypto exchange 0x, told Yahoo Finance UK in a phone interview: Having followed this space since 2011, weve seen a number of different cycles where a large number of people start to get interested in the technology and it kind of winds up and then winds downs again. The market is blowing off some steam right now, he added. I think the market is probably going through some healthy consolidation but I do believe the long-term trend will be greater adoption of bitcoin and similar technologies. Story continues Mati Greenspan, an analyst with trading platform eToro, said: In 2016 the gains started very gradually until it snowballed. Now that awareness and education have skyrocketed, I have a feeling that its going to happen a lot quicker the next time. Jonathan Levi, a former Barclays and Goldman banker who now helps banks implement blockchain as CEO of startup HACERA, told Yahoo Finance UK: I think when the bear market is put in context it gives you more clarity youre looking at a bear sized drop but from an astonishing height. The price of bitcoin is undoubtedly in a bear market but in the application of bitcoin and other blockchain projects we are in fact in a bull market. Most of the EU banks are actively investing in blockchain and that all originally stems from bitcoin. Wednesday marks the 10th anniversary of the publication of the first bitcoin white paper. Were positioned to weather the low volatility Despite the recent tail-off in volumes and volatility for bitcoin, BitMEX still sees daily trade on contracts with a notional $1bn each day. Earlier this year it recorded its biggest ever day, with $8.5bn of contracts written. We think were well positioned to weather the low volatility, Hayes told Yahoo Finance UK. There are some reports of other OTC dealers and exchanges letting go of employees because obviously volumes have fallen and they hired aggressively. Our expansion plans have not changed, we continue to hire across the whole organisation and we have the balance sheet resources to continue that activity. Yahoo Finance reported last week that Coinbase, one of the largest bitcoin exchanges, cut around 15 staff across a range of departments. || AppSwarm and SinglePoint's Bitcoin Wallet SingleCoin Pushes out New Ethereum Update: Tulsa, Oklahoma--(Newsfile Corp. - November 8, 2018) - AppSwarm, Inc. ( OTC Pink: SWRM ) has pushed out a new update to the SingleCoin wallet it has built in association with SinglePoint ( SING ). SingleCoin ( https://singlecoin.com/ ) is an easy and secure crypto wallet. You can already store, send, and receive Bitcoins. AppSwarm is proud to announce that it has now added full support for the Ethereum currency to the SingleCoin wallet. Key Features: * No Signup Required * Easily send Bitcoins and Ethereum to any Wallet address * Easily share your Wallet address across different social networks and receive Bitcoins and Ethereum * Easily review your transaction history in a compact, specially designed transactions list * No online Backup, private keys are stored in secure keychain only on the device AppSwarm is also working hard to bring more and more cryptocurrencies onto the SingleCoin platform, as well as the capability to exchange, buy and sell digital currencies. SingleCoin is available to Android and iOS users. Simply follow the links below to sign up and start with SingleCoin. After your download, be sure to see our "All Things Crypto" report, an educational review of cryptocurrencies. iOS users download here . Android users download here . Request More Information To receive status updates on our company we invite you to register to our investor mailing list at http://www.app-swarm.com/investors/ . About APPSWARM AppSwarm is a technology company specializing in the accelerated development and publishing of mobile apps and other software platforms for gaming and business applications and seeks to acquire symmetric business opportunities. AppSwarm partners with and assists other development firms in technology development, business management, and funding needs. For more information, visit us at www.app-swarm.com , or follow us on www.facebook.com/AppSwarm or Twitter https://twitter.com/AppSwarm . Forward-Looking Statements: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company. Story continues Investor and Media Contacts: AppSwarm, Inc. 888-886-8583 info@app-swarm.com || Bitcoin Mining Pool AntPool to Sponsor NBA’s Houston Rockets: One of the world’s largest cryptocurrency and bitcoin mining companies, Bitman’s Antpool, has entered into a sponsorship agreement with popular NBA team Houston Rockets.
The partnership signed by both outfits is for the 2018-2019 professional season and will stand out as one of the significant moves by the China-based company towards achieving its expansion goals into the Houston area. At the same time, this joins in the increasing number of similar awareness and publicity programs being experienced by cryptocurrency in recent times, especially in associating with the sporting industry.
According to AntPool overseas operations manager Haijiao Li, there is no better way for his company to continue with its momentum in expanding to the U.S. than partnering with the Houston Rockets. He describes the NBA outfit as most popular team in China — Chinese Hall of Famer Yao Ming played for the Rockets — and a legendary basketball club with global recognition.
“We’re excited to work with AntPool as a conduit in the U.S. for their ever-growing business,” added Rockets vice president of corporate development John Croley. “The Rockets are always looking to stay ahead ofthe curve with technology both on and off the court and AntPool’s prowess with crypto currency makes for agreat partnership.
It is obvious knowledge that the crypto industry is still trying to find its way into the mainstream. This phenomenon requires a lot of awareness and proper education in order to encourage reasonable adoption. Efforts such as these are becoming more popular in the industry and also seem to be delivering expected results.
Li acknowledges the increasing number of mainstream cryptocurrency partnerships as an important step towards the conversion of consumers to adopt and understand bitcoin and other digital assets.
“As the cryptocurrency industry around the globe continues to evolve and develop, it is going to be more and more important for companies like AntPool to lead the conversation and conversion of consumers to adopt and understand digital currencies. It is an exciting time, and we welcome Rockets fans and those traveling to Houston to visit our showcase at Toyota Center and learn more about the technology that will change the world.”
Prior to this time, CCN reported similar partnerships by other cryptocurrency companies with a number of sporting outfits both in the field ofbaseballandfootball, among other sports. The reason for such partnerships is easy to understand based on the volume of audience that professional sports teams attract. This same philosophy is being applied by companies that partner with celebrities in the entertainment industry.
If there is one thing that the cryptocurrency industry needs now, it is awareness and proper education. Therefore, while individual companies make efforts for their own publicity and expansion, the overall positive impact that they have on the industry at large cannot be overemphasized.
Featured Image from Keith Allison/Flickr
The postBitcoin Mining Pool AntPool to Sponsor NBA’s Houston Rocketsappeared first onCCN. || $6,550: Bitcoin Charts Suggest New Target for Price Rally: The corrective rally in bitcoin (BTC) could gather momentum if key resistance above $6,500 is crossed on the back of high volumes, according to technical charts.
The leading cryptocurrency witnessed a symmetrical trianglebreakoutlast week, opening doors for a stronger corrective rally towards $6,800â$7,000.
However, despite the bullish setup, BTC wasrejectednear $6,600 on Friday and spent the weekend trading in a sideways manner in the range of $6,350â$6,550. As a result, the immediate bullish outlook has been neutralized.
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Further,trading volumesfell to a two-month low of $3.22 billion on Saturday, putting a question mark on the sustainability of the recovery from the recent lows near $6,100.
That said, the corrective move could resume if the cryptocurrency sees a high volume bullish break from the three-day long narrowing price range.
At press time, BTC is changing hands at $6,490 on Bitfinex â down 0.10 percent on a 24-hour basis.
As can be seen, BTC has charted a narrowing price range over the weekend. A break above $6,540 (triangle resistance) would signal a continuation of the rally from the Sept. 8 low of $6,119.
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More importantly, it would strengthen the bullish case put forward by last week's bullish relative strength index (RSI) divergence and symmetrical triangle breakout.
On the other hand, a break below $6,380 (lower end of the narrowing price range) would signal an end of the corrective rally.
Over on the daily chart, the bullish crossover between the 5-day and 10-day moving averages (MA) indicates the path of least resistance in on the higher side. So, the cryptocurrency is more likely to extend the corrective rally in the short-run.
• A high volume move above $6,540 (upper end of the range) could yield a sustained rally toward $7,000 (psychological hurdle). On the way higher, BTC may encounter resistance at $6,710 (50-day MA) and $6,750 (100-day MA).
• A downside break of the narrowing price range would mean the corrective rally from the low of $6,119 has ended and that level could be put to test again.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; Charts byÂTrading View
• Could This ICO Model Let Anyone Sell Tokens Legally? Civil Thinks So
• Ether Records Highest Daily Trading Volume in 12 Months || Busted: Bulgarian Officials Caught Selling Passports for Bitcoin: Authorities in Bulgaria have clamped down on theshady sale of international passportsto foreigners from some parts of Eastern Europe in exchange for bitcoin. Erring citizens of Bulgaria, Ukraine, Moldova, and Macedonia have been allegedly involved in the perpetration of such illegal activities.
The citizenship issuance which was authorized by Bulgarian officials has landed suspected officials in the police net. Among those who were apprehended by the Prosecutor’s General Office are Bulgarian State Agency for Bulgarians’ matters abroad Peter Haralampiev, General Secretary Krasimir Tomov and the member of the agency Mark Stoyov.
Corroborating the apprehension of these officials, the Chief Prosecutor of the State Ivan Geshev stated:
“Peter Haralampiev, Krasimir Tomov, and Mark Stoyov have been arrested for fraud with the issuance of Bulgarian passports to Ukrainian, Moldovan and Macedonian citizens.”
While the legal counsels of the accused officials have denied their clients’ involvement in the receipt of unauthorized payments, the Prosecutor General insists that they have evidence to prove the process was facilitated with a digital asset as the means of exchange.
The scandal has put the government in a bad light but the Vice Prime Minister of Bulgaria Valeri Simeonov maintains that he has no intention of relinquishing power because of the level of corruption in the agency.
Apart from the involvement of government officials in this action which is punishable by the law, 20 individuals were recently detained in Bulgaria for selling the country’s passport to desperate citizens of Ukraine, Moldova, and Macedonia. The suspects allegedly received close to $5.6 thousand for just a document.
Bulgaria became a member state of the European Union (EU) in 2007. The EU passport provides citizens of other EU member states with the concession of traveling and living within the territories of the EU with little or no restriction.
The business of selling fake passports is being leveraged by several illegal immigrants who are keen on obtaining papers to enter EU countries. An underground syndicate inGreecewith a branch in the Czech Republic was swooped upon by the Europol in 2016. Five among its operators were Ukrainians while other leaders of the group were citizens of Sudan and Bangladesh.
These criminals specialized in the sale of fake Schengen visas, residence permits, and driver’s licenses. The fee for obtaining forged documents depended on the region of the individual involved. Immigrants from Africa, the Middle East, and Asia could obtain their passports for £3,000 to £3,500 while European citizens could pay as much as £8,000.
Featured image from Shutterstock.
The postBusted: Bulgarian Officials Caught Selling Passports for Bitcoinappeared first onCCN. || ShapeShift CEO Erik Voorhees Refutes WSJ Reports of ‘Dirty Money’: Cryptocurrency exchangeShapeShifthas refuted a recent Wall Street Journal report that $9 million in ill-gotten funds went through the exchange, according to an announcementpublishedOctober 1.
On September 28, WSJreleasedan article dubbed “How Dirty Money Disappears Into the Black Hole of Cryptocurrency,” alleging that $88.6 million in fraudulently obtained funds had been funnelled through 46crypto exchanges, wherein $9 million was laundered through ShapeShift. To analyze ShapeShift transactions, WSJ reportedly downloaded and stored a list of the 50 latest transactions every 15 seconds, at the exchange’s website.
In the blog post, ShapeShift’s founder and CEO Erik Voorhees confirms that the exchange team had worked with WSJ journalists for five months, but “under false pretenses” as information provided by the exchange was reportedly misrepresented or omitted.
In its article, WSJ states that bad actors took advantage of ShapeShift’s user anonymity, convertingBitcoin(BTC) into the purportedly untraceable cryptocurrencyMonero. Voorhees parried accusations, stating that the exchange has an internal anti-money laundering (AML) program that deploys “blockchainforensics that are far more advanced than asking someone for their ‘name and address’.”
Vorhees further states that WSJ “forewent a chance to prevent potential illicit activity” in their reporting practices. The blog post reads that WSJ withheld gathered data on suspicious accounts “in order to build their story.” In doing so, WSJ supposedly did not report suspicious activity to the appropriate exchanges, including ShaheShift, so they could immediately block the accounts.
According to the exchange’s CEO, the claims made by WSJ are “factually inaccurate and deceptive,” and that WSJ authors did not have a sufficient understanding of blockchain and the way ShapeShift operates in particular. The blog post claims that WSJ reporters mistakenly read records of token transfers to such a degree that they wrongfully attributed $70,000 of “dirty money” to the exchange:
“$600 of suspicious funds were sent to an exchange that wasn’t ShapeShift. Because ShapeShift happens to be a customer of this same exchange — 10 months later in a completely unrelated transaction — the exchange sent funds to ShapeShift. The authors didn’t understand how to properly read the blockchains transactions, so they assumed there was $70k in “dirty money” sent to ShapeShift.”
Vorhees concludes the article by saying that “we are trying to pioneer a new financial system, and we don’t expect to be loved by the proponents of the old.” He states:
“We will push forward, and we’d suggest the WSJ change their title to be more accurate and objective, ‘Less than two tenths of one percent of ShapeShift’s business might be illicit.’”
• WSJ: $88.6 Million in Illicit Funds Funneled Through Cryptocurrency Exchanges
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[Random Sample of Social Media Buzz (last 60 days)]
The current value of BTC at 15:24:06 on 19/10/2018 (AEST) is $8,975.00 AUD.
#bitcoin #australia || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 0.6 % || 29-10-2018 02:00
Price in #USD : 0.1738945452 || Price in #EUR : 0.1525677704
New Price in #Bitcoin #BTC : 0.00002682 || #Coin Rank 582 || Bitcoin: $6,532.50
-1.02% (-$67.50)
High: $6,642.00
Low: $6,525
Volume: 414
$BTC #BTC #bitcoin || #BTCUSD Market #1H timeframe on November 14 at 20:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || USD: 113.040
EUR: 129.670
GBP: 147.969
AUD: 80.055
NZD: 72.911
CNY: 16.324
CHF: 113.734
BTC: 744,902
ETH: 25,740
Wed Oct 10 00:30 JST || Bitcoin Edge Alert. NCAA Football - Connecticut @ Memphis - 11:00 PM October 6th 2018 UTC - Bet Connecticut at odds of 104.0 & Memphis at odds of 1.02 to win 1.01% on any result! Details & local time on Bitedge https://bitedge.com/sports-betting-tools-and-resources/bitcoin-betting-edge-alerts/ … || That pump feeling 🌙 🚀🔥😍
#crypto #bitcoin #xrp #Ripple #BTC #blockchain #Bulls #cryptomemes https://t.co/CoNiIgUOSW || Current price: $0.023812
Node count: 821
Total accounts: 516516
Coins burned: 2,553,757.00 TRX
#tron #trx $trx $btc #btc || 24H
2018/11/03 02:00 (2018/10/28 02:00)
LONG : 22851.77 BTC (-260.94 BTC)
SHORT : 27172.71 BTC (-4280.83 BTC)
LS比 : 45% vs 54% (42% vs 57%) || #BitcoinMatin : Ce matin à 07:00, cours moyen du BTC : ↑5729.25 EUR et ↑6744.1 USD. http://bit.ly/2xWhGCU
|
Trend: down || Prices: 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-10-11]
BTC Price: 19051.42, BTC RSI: 42.78
Gold Price: 1678.70, Gold RSI: 46.87
Oil Price: 89.35, Oil RSI: 55.20
[Random Sample of News (last 60 days)]
Meta Blocks ‘Inauthentic’ Pages, Groups From Russia and China: (Bloomberg) -- Meta Platforms Inc. has blocked thousands of “inauthentic” accounts, pages and groups from Facebook and Instagram that originated in Russia and spread propaganda about that country’s war with Ukraine.
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The network of accounts, which started in May, “criticized Ukraine and Ukrainian refugees, praised Russia and argued that Western sanctions on Russia would backfire,” the social media giant said Tuesday. The group behind the accounts created 60 websites “carefully impersonating legitimate news organizations in Europe,” Meta said.
The move represents Meta’s latest attempt to beat back propaganda and misinformation on its services. The company, known as Facebook until a name change last year, has more than 3.6 billion users across its social media and messaging platforms -- a lineup that also includes WhatsApp.
The Russian group blocked by Meta had spread news articles online and -- in some instances -- paid Facebook or Instagram to promote them. The company made around $105,000 in advertising revenue from the ads, executives say. That money won’t be returned, but instead be used to pay for Meta’s growing security teams.
The company also removed a much smaller network of accounts originating in China. That group targeted US users, people in the Czech Republic, and some other Chinese- and French-speaking audiences. The campaign had far less scope -- fewer than 100 total accounts, pages and groups -- and persuaded fewer than 300 total users to follow them.
The accounts posted content that touched on both sides of the political spectrum in the US. “This was the first Chinese network we disrupted that focused on US domestic politics ahead of the midterm elections,” the company said.
As a policy, Meta blocks networks of accounts that are meant to mislead users about the true identity of the people operating them.
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©2022 Bloomberg L.P. || Bitcoin Depot to list in the U.S. through $885 million SPAC deal: (Reuters) -Fintech Bitcoin Depot plans to list in the United States by merging with blank check company GSR II Meteora Acquisition Corp in a deal valued at $885 million, the companies said on Thursday. The transaction will raise up to $321 million of cash held in GSRM's trust account and will be used to support Bitcoin Depot's working capital, complete acquisitions and scale its platform and suite of products. Assuming no redemptions, the combined company will be valued at $755 million, including debt, with an equity value of $885 million and up to $170 million in cash proceeds from the deal, according to a statement. Bitcoin Depot, founded in 2016, is a bitcoin ATM operator in North America that enables users to convert their cash into bitcoin, ethereum and litecoin at more than 7,000 kiosk locations in 47 U.S. states and nine Canadian provinces. Special purpose acquisition company GSRM, which raised $316 million in an initial public offering in March this year, is pushing ahead with the deal at a time when few are. https://bwnews.pr/3CxbAfY A SPAC is a listed firm with no business operations but a pool of capital that it uses to merge with a private company. The deal then takes the private company public. High rates of shareholder redemptions and regulatory concerns have dissuaded companies seeking to go public through the SPAC route stifling dealmaking in the sector which took wall Street by storm in the past two years. Among companies that have recently scrapped their agreements to go public via SPACs include telecom services firm Syniverse Technologies, 3D printing firm Essentium Inc and travel technology platform HotelPlanner. The deal, expected to close by the first quarter of next year, is being advised by Oppenheimer & Co. Inc. The combined company will list on Nasdaq under the symbol 'BTM'. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh Kuber) || Coinbase Adds Nano Ether Futures to Derivatives Platform for Retail Traders: Crypto exchange Coinbase (COIN) is adding what it calls nano ether futures contracts to its derivatives platform on Monday.
"While still in its early stages, we believe that product innovation and an accessible entry point for the retail market have contributed to its success," Boris Ilyevsky, head of Coinbase’s derivatives exchange,said in a blog post Thursday.
The addition of nano ether (ETH) futures comes just two months after Coinbase began offering nano bitcoin (BTC) futures to its retail clientele.
“At 1/100th of bitcoin, our nano bitcoin futures contract requires less upfront capital, allowing participants to easily go long or short the price of bitcoin and manage risk in volatile markets,” he added.
In addition to expanding retail derivative trading offerings, Coinbase's move also comes ahead of the Ethereum Merge as traders seek to make bets and manage risk around the event. Derivatives marketplace Chicago Mercantile Exchange (CME) recently said itplans to beginoffering options for ether futures on Sept. 12.
Read more:Coinbase Launches First Crypto Derivatives Product Aimed at Retail Traders || Binance and FTX lead bidding for bankrupt Voyager: Crypto exchanges FTX and Binance have reportedly made the highest bids on bankrupt crypto lender Voyager Digital Ltd. and its assets, but neither offer had been accepted as of Tuesday, according to a Wall Street Journal report.
See related article:Sam Bankman-Fried lashes out at Voyager for rejecting FTX’s proposal
• The WSJ article published on Tuesday night cites “people familiar with the matter” who claim the current bid from Binance is about US$50 million, slightly higher than the competing bid from FTX.
• FTX and Binance have managed to increase their share of the cryptocurrency trading market over the “Crypto Winter,” according to data from research firm CryptoCompare. FTX, owned by Sam Bankman-Fried, has lent lines of credit to and acquired distressed crypto companies and assets over the past year.
• Alameda Research, founded by Bankman-Fried,agreed to repayaround US$200 million in cryptocurrencies to Voyager Digital in a court filing Monday. In addition, Alameda separatelysigned a non-bindingagreement to give the crypto lender a $200 million cash and USDC line of credit and a second 15,000 Bitcoin revolving credit facility back in June.
• The bidding for Voyager’s assets began on Sept. 13 with a hearing scheduled for Sept. 29 to announce the winning bid. According to the WSJ, other bidders include crypto investment manager Wave Financial and trading platform CrossTower.
• At the time of itsbankruptcy filingin July 2022, Voyager reported that it had US$5 billion in total assets and $4.9 billion in liabilities. Voyager’s stock price has fallen more than 99% in 2022 as of time of press.
See related article:Voyager gives Sam Bankman-Fried’s ‘low-ball’ bailout offer a single digit || India’s ED freezes more crypto in E-Nuggets money laundering case: India’s financial crime fighting agency has frozen additional cryptocurrencies worth around US$58,000 as part of an ongoing money laundering probe against mobile gaming application E-Nuggets and its former executive.
See related article:Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says
• The additional cryptocurrencies includeWRX, the utility token of Indian exchange WazirX, and theUSDTstablecoin, the Enforcement Directorate (ED) said in astatement on Friday.
• The ED said that the additional assets were found in a WazirX wallet that allegedly belonged to former E-Nuggets chief Aamir Khan and “associates.”
• The E-Nuggets app has allegedly duped the general public of a significant amount of money, according to the ED.
• The agency said earlier this week it froze aroundUS$1.6 million worth of Bitcointhat the accused allegedly laundered through WazirX and Binance.
• Both exchanges confirmed their cooperation with the ED’s investigation toForkast.
• Earlier this month, the ED seized about US$2.1 million in cash from Khan’s residence.
See related article:India financial crime unit cites ‘Chinese-controlled entities’ in alleged crypto fraud || El Salvador's Debt Rating Cut to CC by Fitch: Seven months after lowering El Salvador's long-term foreign currency issuer default rating (IDR), Fitch Ratings has downgraded it again.
El Salvador, whichmade bitcoin (BTC) legal tendera year ago, was cut to CC from CCC by the ratings company, which said the country is likely to default on a bond maturity payment that's due at the start of 2023.
President Nayib Bukele, who said Thursday thathe plans to run for another term, pushed for the adoption of bitcoin and has beenadding the cryptocurrency to the country's reserves.
"El Salvador's tight fiscal and external liquidity positions and extremely constrained market access amid high fiscal financing needs and a large USD800 million external bond maturity in January 2023 make default of some sort probable," Fitch said in areporton Thursday.
The country's adoption of bitcoin has limited itsaccess to markets, hampering its ability to finance the bond repayment, Reuters reported in January, citing Moody's, another ratings agency.
“Policy differences related to the government’s embrace of bitcoin have lowered the probability that an IMF (International Monetary Fund) deal will be reached in time to address the government’s upcoming January 2023 $800 million bond maturity,” Moody's analysts wrote at the time, according to Reuters. The country has beennegotiatinga possible $1.3 billion loan with the IMF since March 2021.
To possibly curb speculation of a potential default, earlier this month, the countryoffered to buy backall external debt due from 2023 to 2025.
El Salvadormade bitcoin a legal tenderlast September, and most of the bitcoin purchased by the country isnow worth less than it paid.
In February, Fitch downgraded the country to CCC from B-, just weeks before the country was expected to start issuing its bitcoin bond. The $1 billion bitcoin bond, announced in November and scheduled for mid-March, still doesn't have a launch date.
See also:1 Year of Bitcoin in El Salvador: The Bad, the Good and the Ugly || New York Attorney General Seeks Trump Trial by End of 2023: (Bloomberg) -- New York Attorney General Letitia James said in a court filing she wants to go to trial in the states fraud lawsuit against Donald J. Trump and the Trump Organization by the end of next year. Most Read from Bloomberg MacKenzie Scott Files for Divorce From Science Teacher Husband Meta to Cut Headcount for First Time, Slash Budgets Across Teams Top Apple Executive Is Leaving After Making Crude Remarks in TikTok Video Marjorie Taylor Greenes Husband Files for Divorce After 27 Years Stocks Plummet to 22-Month Low as Fed Hawks Circle: Markets Wrap James filed a letter with a New York state judge Thursday saying she intends to seek an expedited conference to set the trial date. Because the case involves allegations of an ongoing scheme and conspiracy to obtain obtain millions of dollars through fraudulent activity, and that defendants repeatedly have sought to delay the conclusion of OAGs investigation, it is imperative that this case proceed quickly, James said. Last week, James sued Trump, three of his children and the family firm, accusing them inflating the value of his real estate companys assets. Trump has said the case is another witch hunt by James. Her filing Thursday was a response to a request by Trump to move the case assigned to the Commercial Division of New York State Supreme Court, which handles complicated business cases. It was assigned to New York State Supreme Court Justice Arthur Engoron on Thursday. Engoron has been overseeing a parallel dispute during the past two years over subpoenas issued by the state, and the case should remain with him in the interest of judicial economy, James said. While the legal issues before Justice Engoron were tied to the enforcement of investigative subpoenas, the factual issues overlapped almost completely with the allegations in the complaint in this action, the attorney general said. The case is New York v. Trump, 452564/2022, Supreme Court of the State of New York, County of New York (Manhattan). Story continues Most Read from Bloomberg Businessweek The Unstoppable Dollar Is Wreaking Havoc Everywhere But America Jay Powell Needs Investors to Lose Money Twitter Is in This Mess Because Jack Dorsey Was Too Busy Being a Bitcoin Influencer Googles Low-Tech Plan to Solve the Opioid Crisis Would You Invest $10,000 in a Friends Startup? Are You Friends If You Dont? ©2022 Bloomberg L.P. || A $568 Million Hack of Binance Coin Roils Crypto Sector Anew: (Bloomberg) -- An already bad year for cryptocurrencies took another turn for the worse after a $568 million hack affecting Binance Coin became the latest in a string of security incidents to buffet digital assets.
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An exploit occurred on a bridge between blockchains and the issue is “contained now,” Changpeng “CZ” Zhao, the billionaire co-founder of Binance, the world’s biggest crypto exchange, said on Twitter on Friday.
Security specialists at crypto firms BlockSec and Paradigm said blockchain data indicated somebody had hacked two million tokens of Binance Coin -- also known as BNB -- in two transactions. That’s equivalent to about $568 million at current prices for the virtual currency.
About $87 million was moved out of the Binance ecosystem but the hacker was unable to spirit away the rest of the funds because the Binance Smart Chain was suspended, according to BlockSec Chief Executive Officer Yajin Zhou. The blockchain was later restarted. The remaining tokens are on the wallet the hacker used, but have been frozen on the Binance network, Zhou said.
Binance’s Zhao in an earlier post on Twitter said the “impact estimate” of the incident was around $100 million. At least $7 million of stolen funds has already been frozen, a spokesperson for the Binance-backed BNB Chain said.
About $2 billion has been lost in crypto hacks this year, many perpetrated by North Korea-linked groups. Cross-chain bridges used to transfer tokens across blockchains are a popular target, turning them into a major vulnerability.
The Binance ecosystem is among the highest profile to be buffeted. Zhao said on Twitter that “in all likelihood, Binance will cover any fund that the hackers get away with.”
BNB Chain said it’s working with security services to freeze transfers of stolen funds. Binance Coin fell as much as 3.3% on Friday and was trading at around $284 as of 7:40 a.m. in London.
Binance Coin is the native token of BNB Chain and was launched through an initial coin offering in 2017. It was originally based on the Ethereum network.
The crypto sector has been pummeled by a $2 trillion rout as well as the litany of hacks. The latter have become a global concern -- for instance, envoys from South Korea, the US and Japan on Friday agreed to redouble efforts to block North Korea’s nuclear and missile financing through crypto theft.
The wider crypto markets took the latest developments in their stride. Bitcoin was little changed at just below $20,000 on Friday.
(Updates with latest hack estimates from the first paragraph.)
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©2022 Bloomberg L.P. || Capture China’s EV-Market Rebound With Li Auto Stock: Chinese electric vehicle (EV) manufacturer Li Auto (NASDAQ: LI ) stock is on a roll, so to speak. The automaker recently reached a milestone, producing 200,000 Li ONE electric hybrid SUV models. Overall, Li Auto’s ramp-up in EV deliveries has been outstanding. If China’s EV market can recover from challenges including Covid-19 lockdowns and supply-chain disruptions, LI stock has the potential to move much higher. Sometimes, U.S.-based investors might forget that the clean-energy movement is truly international. Sure, there are some high-conviction EV makers in America, but China is the world’s biggest car market . So, why not consider seeking potential profits abroad? InvestorPlace - Stock Market News, Stock Advice & Trading Tips Li Auto has to deal with the challenges inherent to the Chinese EV industry in 2022, but this market could improve in the coming months and years. LI Li Auto $29.94 What’s Happening with LI Stock? Not long ago, InvestorPlace contributor Faisal Humayun put LI stock at the top of his list of five undervalued auto stocks to buy before they zoom higher. Indeed, the stock has “zoom” potential as the buyers have been attempting a breakout above $40 for a while. As Humayun points out, Li Auto’s second model, Li L9, is a smart SUV that will be open for mass deliveries this month. “In the coming quarters, the new model will help in accelerating deliveries growth,” Humayun expects. That’s a fair point, but Li Auto is already marking a major milestone with its first vehicle model, the Li ONE electric hybrid SUV. In just 986 days, Li Auto managed to produce 200,000 Li ONE models. Furthermore, the automaker delivered 10,422 Li ONEs in July, indicating a 21.3% year-over-year (YOY) increase. So, it’s easy to see where Humayun is coming from as Li Auto’s value proposition appears to only be growing stronger. Granted, the company has been working through challenges inherent to the Chinese EV industry. These include Covid-19 lockdowns and supply-chain constraints. Story continues On the other hand, contrarian traders can consider buying LI stock during the tough times, in anticipation of possible gains during the good times. Citigroup analyst Jeff Chung observed that typical seasonal patterns in China’s EV market have been impacted by Covid-related issues. Seasons come and go, though, and these issues could subside in 2022’s second half. All in all, Li Auto’s investors should think long-term. After all, China’s EV market is forecast to reach $799 billion by 2027, with a compound annual growth rate (CAGR) of over 30.1% from 2022 to 2027. Clearly, this ongoing trend should benefit Li Auto in the long run. What You Can Do Now China’s EV market recovery could take a while, so LI stockholders will need to be patient. Still, Li Auto’s production and delivery data ought to keep the company’s shareholders in a positive, confident mood. It takes a contrarian spirit to invest when there’s trouble. Forward-looking investors can envision a rebound taking place in the Chinese EV industry. It’s difficult to establish an exact time frame for this eventuality. Yet, sooner or later, a stake in Li Auto could realize its “zoom” potential. 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 Capture China’s EV-Market Rebound With Li Auto Stock appeared first on InvestorPlace . || Mark Cuban on why he’s ‘a fan’ of the upcoming Ethereum merge: Billionaire Mark Cuban counts himself among supporters of the upcomingEthereum “merge,”a highly anticipated upgrade for the blockchain that will dramatically reduce its ecological footprint.
“I’m a fan of the merge,” Cuban, aShark Tankinvestor and owner of the Dallas Mavericks, tellsFortune. “I think the energy usage issue is important.”
Indeed, the merge—estimated to happen Sept. 15—will shift Ethereum from a proof-of-work consensus mechanism to proof of stake. Proof of work is an energy-intensive process that relies on miners to add new blocks and verify transactions, whereas proof of stake instead relies on a network of validators. In turn, once the merge happens, mining on Ethereum will be effectively eliminated, and its overall energy consumption is expected to decline by 99.9%.
That’s why Cuban said he sees the move to proof of stake as a positive.
“But it’s long term. I don’t [know] if and when it goes up,” he added.
Even still, “I think the applications to drive usage will be there,” Cuban said, adding that he remains super bullish on Ethereum.
When previously discussing his affinity for Ethereum, Cuban has repeatedly mentioned the network’s applications and use cases being a driver behind his support. Mainly, he’s talked about his interest in smart contracts—collections of code that execute a set of instructions on a blockchain.
“What really changed everything was smart contracts,” he said in March 2021. “Smart contracts came along, and that created DeFi [decentralized finance] and NFTs [or non-fungible tokens]. That’s what changed the game. That’s what got me excited. That’s why it’s a lot like the internet.”
Cuban owns Ether, along with other cryptocurrencies like Bitcoin and the meme-inspired Dogecoin. His portfolio also consists of a few NFTs andinvestments in blockchain companies, many related to bettering Ethereum.
This story was originally featured onFortune.com
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: no change || Prices: 19157.45, 19382.90, 19185.66, 19067.63, 19268.09, 19550.76, 19334.42, 19139.54, 19053.74, 19172.47
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-10-31]
BTC Price: 20495.77, BTC RSI: 58.44
Gold Price: 1635.90, Gold RSI: 40.93
Oil Price: 86.53, Oil RSI: 50.15
[Random Sample of News (last 60 days)]
Wall Street keeps selling as world assets fail to recover: By Lawrence Delevingne
(Reuters) -U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession.
The pound was little changed at $1.071 after sterling collapsed to $1.0327 on Monday on concern over the funding of recently announced UK tax cuts, which follow huge energy subsidies.
The Bank of England said late on Monday it would not hesitate to change interest rates and was monitoring markets "very closely." BoE Chief Economist Huw Pill added on Tuesday that central bank was likely to deliver a "significant policy response" to last week's announcement but it should wait until its next meeting in November before making its move.
The yield on five-year gilts rose about 0.1% to about 4.6%, holding its spike on Monday from just over 4%.
U.S. stocks mostly faltered after a morning bounce, with the S&P 500 hitting a two-year intraday low. The Dow Jones Industrial Average fell 0.42%, the S&P 500 lost 0.20%, and the Nasdaq Composite added just 0.25%
The S&P benchmark index fell more than 20% from its early January high to a low on June 16, confirming a bear market. The index then rallied into mid-August before petering out.
"We don't see a quick retrenchment or a return to 2% inflation, keeping the Fed in hiking mode. This implies more volatility and a need for caution and balance in equity allocations," Tony DeSpirito, BlackRock's chief investment officer for U.S. Fundamental Equities, wrote in a note released on Tuesday.
Markets see a 65% probability of a further 75 basis points move at the next U.S. Federal Reserve meeting in November.
The Fed needs to raise interest rates by at least another percentage point this year, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank's resolve to quash excessive inflation.
"Central bankers have been walking a tightrope trying to curb inflation while attempting to limit recessionary risks," Bank of America strategists wrote in a note released Tuesday.
"However, their recent tone and 'jumbo' rate hikes have reinforced that the foremost priority is controlling inflation, even at the potential cost of a recession."
GLOBAL CONTAGION
Spillover from Britain kept other assets on edge.
The MSCI world equity index reversed early gains on Tuesday, falling about 0.3% to a near two-year low early Tuesday afternoon. European stocks slipped 0.13%.
MSCI's broadest index of Asia shares outside Japan hit a fresh two-year low and was flat on the day. Japan's Nikkei gained about 0.5%.
Bond selling in Japan pushed yields up to the Bank of Japan's ceiling and prompted more unscheduled buying from the central bank, while euro zone government bond yields rose to new multi-year highs on Tuesday.
Benchmark U.S. 10-year Treasury yields also rose to their highest in more than 12 years as investors braced for higher interest rates.
The dollar held gains on Tuesday in its relentless rally while sterling, the euro and Japanese yen regained little ground from multi-year lows after unusually volatile trading in recent sessions.
There was some good news. New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment, and a survey showed consumer confidence rising for a second straight month in September.
Oil rallied after plunging to nine-month lows in the previous session, helped by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian and by a slightly softer dollar.
Brent crude settled 2.6% higher at $86.27 a barrel, and U.S. crude ended at $78.50, up 2.3%.
Dutch and British gas prices spiked on news that the Nord Stream gas pipeline from Russia to Europe had suffered damage, raising concerns over the security of the bloc's energy infrastructure and triggering a sabotage probe.
Gold, which hit a 2-1/2-year low on Monday, rose around 0.3% to $1,626 an ounce.
Bitcoin briefly broke above $20,000 for the first time in about a week, as cryptocurrencies bounced.
(Reporting by Lawrence Delevingne in Boston and Carolyn Cohn in London; Additional reporting by Xie Yu in Hong Kong; editing by Jonathan Oatis, Richard Chang and Marguerita Choy) || Stablecoin Tether trades commercial paper holdings for US Treasuries: The world’s largest stablecoin issuer said Thursday it has moved all its commercial paper holdings into U.S. Treasuries.
Since July 1, Tether (USDT) has exchanged approximately $3.5 billion of unidentified unsecured corporate notes or commercial paper for T-bills, according to ablog postfrom Tether. The coin holds $68 billion in circulating supply, representing 46% of the stablecoin market, according toDeFi Llama.
The development follows years of concern from regulators across the world that crypto’s largest stablecoin, which is pegged to traditional currencies such as the U.S. dollar, Euro and Mexican peso, could face heightened redemption issues by holding billions of dollars in unsecured corporate notes.
Trading volume in stablecoins is the most thriving part of daily crypto markets. For most of this year, this subset of crypto assets has made up 87% to 94% of all crypto trading volume, according to Coinmarketcap.
Tether and other stablecoins are being considered for global payments use by companies ranging from Visa to BlackRock. As a result, stablecoins have also faced major scrutiny for their wide use and not offering the same degree of transparency as regulated banking entities.
In May, a bank run on algorithmic stablecoin TerraUSD sparked a collapse of the Terra blockchain ecosystem, which evaporated over $40 billion in investor funds in days.
During the period, Tether’s own price came under pressure against its own run in which the issuer redeemed billions of dollars in a matter of days.
Paolo Ardino,Tether’s chief technology officer, told Yahoo Finance at the end of Maythat Terra’s collapse would hasten stablecoin regulation.
Though there is a majority consensus among analysts that major stablecoins such as Tether (USDT), Circle’s USD coin (USDC), and Binance’s BUSD carry less risk in design than Terra’s defunct coin, financial authorities still say they could pose problems.
As recently as last week,the Financial Stability Oversight Council (FSOC) warnedthat if cryptocurrencies, including stablecoins, continue to grow and intermingle with traditional markets, they could present a major vulnerability.
MakerDao, issuer of Dai, a smaller DeFi-focused stablecoin, has also recently moved $500 million in holdings to U.S. Treasuries from Circle's USD coin. The decision follows the rising yields for U.S. Treasuries as the yields drop across much of the crypto market, according to Connor Ryder, a researcher with Kaiko.
As of June 30, Tether holds as much as 8.36% of its money in digital tokens, 6.7% in secured loans, 5.25% in corporate bonds, funds and precious metals and 79.6% in cash and cash equivalents such as U.S. Treasuries.
Circle, the second largest stablecoin issuer, holds all its reserves for USD coin in cash and short-duration U.S. Treasuries since June of last year. According to an SECfiling, the decision was made so the company wouldn't be regulated under the agency's 1940 Investment Act, which it said in the filing "could have a material adverse effect on our business."
—
David Hollerith is a senior reporter at Yahoo Finance covering the cryptocurrency and stock markets.Follow him on Twitter at@DsHollers
Click here for the latest crypto news, updates, values, prices, and more related to Bitcoin, Ethereum, Dogecoin, DeFi and NFTs
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || Stock market news live updates: Stocks extend losses after three-week selloff: U.S. stocks sank lower in a choppy post-Labor Day session Tuesday as traders remained on edge ahead of the Federal Reserve's next policy move later this month. The benchmark S&P 500 fell 0.4%, while the Dow Jones Industrial Average declined by 0.5%, or about 170 points. The tech-heavy Nasdaq Composite led the declines, tumbling 0.7%. The moves come after three straight weeks of losses for the major averages. Losses across equities resumed following the release of fresh data that showed U.S. services activity gained momentum in August, a sign to investors that Fed officials may proceed with a heftier rate increase of 75 basis points September 21. The Institute for Supply Management reported its non-manufacturing PMI rose to a reading of 56.9 last month from 56.7 in July, the second straight monthly increase ofter a three-month decline. Immediately following the results, the CME FedWatch Tool reflected a new high in probability — a 74% chance — that the Federal Reserve will raise interest rates by another 0.75%. Treasury yields nudged higher as investors await the central bank's next move. The benchmark 10-year note climbed to 3.338%, while the 2-year Treasury note rose to yield 3.499%, its highest level since 2007. In commodity markets, oil prices edged lower after a temporary rally on the heels of the first supply cut by OPEC+ in more than a year as the group works to manage global crude markets. West Texas Intermediate crude oil fell to $86.77 per barrel while Brent futures ticked down to $92.65 per barrel. And on the cryptocurrency front, Bitcoin ( BTC-USD ) again slipped below the $20,000 level. Shares of Bed Bath & Beyond ( BBBY ) plunged 18.4% on Tuesday. Last week, the home-goods retailer announced in a strategic update that it would lay off staff and shutter approximately 150 stores as part of a turnaround effort for its struggling business. Reports surfaced this weekend that the company’s chief financial officer Gustavo Arnal died by suicide Friday afternoon after falling from a skyscraper in New York's Tribeca area known as the "Jenga" tower. Prior to his death, Arnal was named in a $1.2 billion shareholder lawsuit alleging involvement in a “pump and dump” scheme. Story continues A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly (Andrew Kelly / reuters) "The company is in the early stages of evaluating the complaint but based on current knowledge the company believes the claims are without merit," a spokesperson for Bed Bath & Beyond told Yahoo Finance . Digital World Acquisition ( DWAC ) shares nosedived more than 11% after the special purpose acquisition company that was set to merge with former President Donald Trump’s social media platform failed to garner enough shareholder support to extend the deadline to complete the deal. The moves come after the Labor Department released its latest monthly jobs report for August on Friday. The U.S. economy added 315,000 jobs last as the unemployment rate rose to 3.7%, according to government data. “The modest slowdown in employment growth in August may be welcome by the Fed, but it won't prevent further sizable rate hikes in the months ahead,” Nancy Vanden Houten and Kathy Bostjancic of Oxford Economics said in a note Friday. “Fed Chair Powell made clear last week that the FOMC plans to push rates well into restrictive territory to bring down inflation and prevent an unmooring of inflation expectations.” Bank of America strategists led by Michael Hartnett warned on Friday of a “fast inflation shock” and “slow recession shock,” with investors anticipating continued monetary tightening by the Federal Reserve. — Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc Click here for the latest trending stock tickers of the Yahoo Finance platform Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and YouTube || Poolin, One of the Largest Bitcoin Mining Pools, Suspends Withdrawals From Wallet Service: PoolinWallet, the wallet service of one of the world's biggest bitcoin (BTC) mining pools, is suspending all withdrawals as it tries to preserve assets and stabilize liquidity, the firm said on Monday.
PoolinWallet also said it's continuing to explore "strategic alternatives with various parties."
On Sunday, the firm's CEO and founder, Kevin Pan, said that Poolin was facing liquidity issues but assured users that assets were safe. Customers have been complaining since at least as far back as August that withdrawals were slow.
"PoolinWallet plans to pause all withdrawals, flash trades, and internal transfers within Poolin systems" starting 2 p.m. GMT on Monday in order to preserve assets and stabilize liquidity, said the post on thewallet's official Medium account.
A "feasible" solution will be provided within a week, the post said, echoing Pan's statement that the company would soon come up with a plan to fix the issues. That plan might include debt, according to Pan's post.
In aseparate poston Poolin's site on Monday, the company announced it was waiving fees for bitcoin and ether (ETH) mining until Dec. 7, starting Sept. 8, and for 12 months for users with more than 1 BTC or 5 ether in their pool balance or in Pool Account.
In a post on Poolin's Chinese-language customer support Telegram channel on Sunday, the firm explained that accounts on the mining pool are supported by its wallet service.
Read more:Poolin, One of the World's Biggest Bitcoin Mining Pools, Acknowledges Liquidity Issues || US stocks fall as investors anticipate another 75 basis point rate hike from the Fed this week: (Photo by ANGELA WEISS/AFP via Getty Images) US stocks fell on Monday as investors gear up for another Fed interest rate hike later this week. Fed chair Jerome Powell is expected to hike rates by another 75 basis points at its FOMC meeting on Wednesday. Investors also continue to focus on third-quarter earnings results. US stocks moved lower on Monday as investors get ready for another outsized interest rate hike from the Federal Reserve on Wednesday. Fed chairman Jerome Powell is expected to announced that the US central bank will raise rates by 75 basis points at its upcoming FOMC meeting in its bid to tame inflation that has been driven by higher wages, higher services prices, and higher commodity prices. After this Wednesday's meeting, the Fed is expected to hike interest rates by at least 50 basis points in December. Aside from more rate hikes, investors continue to focus on third-quarter earnings results, which have been mostly beating expectations. So far, 52% of S&P 500 companies have reported results, and of those companies, 72% are beating profit estimates by a median of 5%, according to data from Fundstrat. Here's where US indexes stood shortly after the 9:30 a.m. ET open on Monday: S&P 500 : 3,877.54, down 0.6% Dow Jones Industrial Average : 32,738.39, down 0.38% (123.41 points) Nasdaq Composite : 11,018.18, down 0.75% Here's what else is happening this morning: Investors shouldn't expect the Fed to pivot away from interest rate hikes before the start of 2023, according to a note from Barclays. But Morgan Stanley's Mike Wilson disagrees with Barclays' assessment, arguing in a note on Monday that the Fed could pivot sooner than expected, which would help boost the S&P 500 another 6% to 4,150. Despite the strong rally in stocks this month, GMO's Jeremy Grantham is not convinced and still expects big downside ahead. The investor told the Wall Street Journal that holding cash remains a good idea. Wheat futures jumped as much as 8% on Monday after Russia's withdrawal from a deal to export Ukrainian grain via the Black Sea threatened global food supplies. Story continues In commodities, bonds and crypto: West Texas Intermediate crude oil fell 1.54% to $86.55 per barrel. Brent crude , oil's international benchmark, fell 3.37% to $92.54. Gold fell 0.42% to $1,637.90 per ounce. The yield on the 10-year Treasury rose 3 basis points to 4.05%. Bitcoin rose 0.85% to $20.702, while ether jumped 2.20% to $1,619. Read the original article on Business Insider || South African Non-Profit Bitcoin Ekasi Opens Education Center: Bitcoin Ekasi, a nonprofit organization seeking to establish a bitcoin economy in Mossel Bay, South Africa, has opened the Bitcoin Ekasi Center. The center will provide financial literacy education to local residents, with a focus on the area’s younger generation and business community.
The center was co-founded by Hermann Vivier, who also co-foundedThe Surfer Kids, a non-profit that teaches surfing and life skills to disadvantaged kids from the same locale. Bitcoin Ekasi has already enrolled 20 kids into its program and set up 10 stores to accept bitcoin for payment.
“Ekasi” is South African for “township.” Bitcoin Ekasi is Vivier’s attempt to create a circular bitcoin economy in Mossel Bay’s JCC Camp township – a poverty-stricken community overlooking the Indian Ocean. A circular bitcoin economy is one where individuals receive and make payments in bitcoin as they would with a traditional fiat currency.
“We recently celebrated Bitcoin Ekasi’s first anniversary and it's a surreal feeling to officially open the center. In that time I have witnessed financial empowerment through bitcoin – affecting seemingly unrelated social issues in positive ways,” Vivier said in a press release. “Through the Bitcoin Ekasi Center, I am honored that our team will be able to grow this movement and inspire other communities to think differently about money.”
The center will provide basic math and English training to younger residents. Adults will receive training on foundational bitcoin topics with a focus on three key questions: one, what is bitcoin; two, how does it work; and three, why is it important?
“Our society is based around money: who has it, how to get it, ways to grow it, what to do with it. For the millions of people who are unable to access banks and credit, bitcoin is a real solution for them to be able to join those conversations. That’s why local education is vital and why Paxful is committed to bitcoin’s purpose over price,” said Ray Youssef, founder and CEO ofPaxful, a popular peer-to-peer exchange that operates in several key African markets, in the press release.
Read more:South Africa's Central Bank Greenlights Financial Institutions to Serve Crypto Clients || CleanSpark Announces Participation at Upcoming Investor Conferences this September: Executive team to discuss financial strengths and recent acquisitions at upcoming investor events LAS VEGAS, Sept. 12, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (“CleanSpark”), America’s Bitcoin Miner™, today announced that Matthew Schultz, Executive Chairman, and Gary Vecchiarelli, CFO, will meet with investors and present at three conferences in September to discuss recent acquisitions . Details of the events are as follows: H.C. Wainwright 24th Annual Global Investment Conference September 13, 2022, 10:00 a.m. ET CleanSpark Executive Chairman Matthew Schultz Click here to watch the live audio webcast. An archive of the event presentation will be available on CleanSpark’s website after the event. BTIG Future of Digital Assets Conference September 19, 2022, 11:00 a.m. ET CleanSpark Executive Chairman Matthew Schultz BTIG hosted events are intended for prospective and existing BTIG clients only. To listen to the live event, please contact your BTIG representative. B. Riley Securities 2nd Annual Crypto Conference September 29, 2022 CleanSpark Executive Chairman Matthew Schultz To learn more or show interest please contact your B. Riley representative. About CleanSpark CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Since 2014, we’ve helped people achieve energy independence for their homes and businesses. In 2020, we began applying that expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. CleanSpark is a Forbes 2022 America's Best Small Company and holds the 44th spot on the Financial Times' List of the 500 Fastest Growing Companies in the Americas. For more information about CleanSpark, please visit our website at www.cleanspark.com . Investor Relations Contact Matt Schultz, Executive Chairman ir@cleanspark.com Media Contacts Isaac Holyoak pr@cleanspark.com BlocksBridge Consulting cleanspark@blocksbridge.com CONTACT: Isaac Holyoak CleanSpark, Inc. 702-989-7694 pr@cleanspark.com View comments || Apple’s Tech Supply Chain Shows Difficulty of Dumping China: (Bloomberg) —
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American companies have had a growing list of reasons to downgrade their ties with China in recent years. Former President Donald Trump’s tariffs. Beijing’s stringent Covid lockdowns. The US-Sino standoff over Taiwan. Political pressure to “friend-shore” supply chains toward nations aligned with Washington.
But breaking up, as the adage goes, is hard to do.
That conclusion is evident from a Bloomberg Intelligence analysis of Apple Inc., which is trying to reduce its dependence on China. The Cupertino, California-based company already started producing some iPhone 14 models in India, in an earlier than usual move for new models. And Apple’s largest supplier, Foxconn Technology Group, recently agreed to a $300 million expansion of its production facilities in Vietnam.
Read BI’s Report: Untangling US-China Technology Supply Chain Hard, Not Impossible
But Bloomberg Intelligence estimates it would take about eight years to move just 10% of Apple’s production capacity out of China, where roughly 98% of the company’s iPhones have been made. Scores of local component suppliers — not to mention modern and efficient transport, communication and electricity supplies — make it particularly difficult to get out of the world’s second-largest economy.
“With China accounting for 70% of global smartphone manufacturing and leading Chinese vendors accounting for nearly half of global shipments, the region has a well-developed supply chain, which will be tough to replicate — and one Apple could lose access to if it moves,” BI’s report from analysts Steven Tseng and Woo Jin Ho said.
An Apple spokesperson did not respond to a request for comment.
It’s one thing to look outside China for other makers of toys and t-shirts. But US technology firms invested more than two decades, and tens of billions of dollars, setting up complex production chains to provide essential goods for the e-commerce boom. Unwinding those ties could end up taking just as long, and may result in lasting damage to an already battered global economy.
Of course, unanticipated events — like Europe and America’s rupture with Russia — provide a potent reminder of both the systemic risks of deep economic integration and the speed at which decoupling can occur.
Political headwinds in the US have been steadily leaning against US-Chinese integration. Under President Joe Biden, the $615 billion US-China trade relationship has simmered into a cold war following the commercial tensions under Trump that resulted in tariffs on a collective $360 billion worth of bilateral goods, along with US sanctions on key Chinese technology manufacturers like Huawei Technologies Co Ltd.
The pandemic then ushered in President Xi Jinping’s strict virus-containment policies, which essentially barred travel and has left major areas locked down for extended periods of time. Rising tensions over US ties with Taiwan and China’s unprecedented scale of military exercises in the Taiwan Strait have become the latest flashpoint offering a case for decoupling.
“There was some momentum in this direction as a consequence of the trade war and the pandemic,” Scott Kennedy, a senior adviser at the Washington-based Center for Strategic and International Studies, said about decoupling. “The Shanghai lockdown was really a monster accelerant. And the cross-strait crisis in early August added more fuel to the fire.”
Yet the Biden administration’s reshoring strategy — or “friend-shoring” as termed by US Treasury Secretary Janet Yellen — remains a lofty but unfulfilled ambition, as far as the data go.
US firms had $90 billion directly invested in China at the end of 2020, and despite all the talk of decoupling, added another $2.5 billion in 2021, according to data compiled by China’s commerce ministry. The actual total is likely even higher, because some businesses are thought by analysts to route some investments through Hong Kong, or via tax havens like the Cayman and Virgin Islands.
US tech supply chains in China rely on firms from Taiwan and elsewhere as well as domestic Chinese firms, increasing the level of dependence further.
Friendshoring Reticence
Furthermore, America’s allies aren’t exactly swayed by Yellen’s “friend-shoring” concept. Key US partners like Singapore warned the Biden administration that isolating China could destabilize the global economy and potentially “sleepwalk” the world’s largest economies into a dangerous conflict.
“Such actions shut off avenues for regional growth and cooperation, deepen divisions between countries and may precipitate the very conflicts that we all hope to avoid,” Singapore’s Prime Minister Lee Hsien Loong said following Biden’s visit to the region in May.
That’s not to say untangling the tech supply chains that link the US with China isn’t already happening to some extent. A Sept. 23 report from Goldman Sachs Group Inc. found that the share of US tech imports coming directly from China has declined by 10 percentage points since 2017, “mainly on moderating China mobile phone exports.”
Apple’s exposure to China is also notably bigger than many others. Amazon.com Inc., HP Inc., Microsoft Corp., Cisco Systems Inc. and Dell Technologies Inc. also depend on China to produce hardware for servers, storage and networking products, but the extent of their dependence is far below that of Apple.
Bloomberg Intelligence says that overall tech-industry dependence could be reduced by 20%-40% “in most cases” by 2030. For hardware and electronic manufacturers, they could reduce their reliance on the Chinese market to 20%-30% over the next decade, BI calculates.
The Biden administration is taking a two-pronged approach to weakening economic ties with China that simultaneously incentivizes companies to shift their production via subsidies and penalizes investment in China via tariffs and export controls.
This summer, Biden signed two pieces of legislation — the Chips and Science Act and the Inflation Reduction Act — that contain provisions to help bolster domestic manufacturing of certain strategic goods like semiconductors, electric vehicles, batteries and pharmaceuticals.
The legislation bars companies that access the program’s $52.7 billion in federal funding from materially expanding production of chips more advanced than 28-nanometers in China — or a country of concern like Russia — for 10 years.
Also this year, the US administration expanded curbs on sending US semiconductors to China, with new license requirements to sell chip-making equipment to factories that produce 14-nanometer or more advanced chips.
US industry officials are developing contingency plans in anticipation of more barriers to US-China trade and expect the Biden administration to trigger a slate of additional export restrictions sometime this fall.
While there’s the potential for a political reset between Biden and Xi on the sidelines of the upcoming Group of 20 leaders summit in Bali, expectations for a grand détente remain low.
“I don’t see any breakthroughs coming out of the Xi-Biden meeting,” said Wendy Cutler, a former US trade negotiator and vice president at the Asia Society Policy Institute.
Meanwhile, private-sector sentiment has also deteriorated.
A recent survey from the US-China Business Council found that US firms’ optimism about China has already fallen to a record low and evolving challenges — like China’s Covid Zero policy, power cuts and geopolitical tensions — have caused more than half of surveyed companies to delay or cancel planned investments in China.
Nearly a quarter of the survey respondents said they’ve moved segments of their supply chains out of China over the past year.
US Commerce Secretary Gina Raimondo said at an event Thursday that even some companies that have been manufacturing in China for decades — for which it would be “very disruptive” to depart the country — are putting plans in place, citing conversations she’s had with chief executives.
But it’s not exactly an exodus from China. A common approach has become “China Plus One” — whereby China remains a core production base, and any additional capacity is added in South and Southeast Asian nations like India, Vietnam, Malaysia, Thailand and Indonesia.
Last year, US firms pledged to invest about $740 million in Vietnam, the most since 2017 and more than double the amount in 2020.
Taiwan itself remains a vital but vulnerable component of US supply chains. Led by Taiwan Semiconductor Manufacturing Co. Ltd., the island currently manufactures more than 90% of the world’s most advanced chips used for military and corporate computing services. Apple, MediaTek and Qualcomm, which control more than 85% of the global handset chip market, all rely on TSMC’s supply.
Taiwan is expected to remain the key manufacturing hub for cutting-edge chips over the next five years, according to the Bloomberg Intelligence report.
China’s booming market also underscores the opportunity cost for US suppliers. Some 19 of the world’s 20 fastest-growing chip industry firms over the past four quarters, on average, are based in China, according to data compiled by Bloomberg.
(Updates with comment from US Commerce secretary in second paragraph after ‘China Headaches’ chart.)
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©2022 Bloomberg L.P. || 7 Blue-Chip Stocks to Buy for Safety in This Volatile Market: Im on the hunt for blue-chip stocks to buy for safety in this volatile market. The problem is the definition of what makes a company blue chip varies. Some believe its consistent and increasing dividends. Others look to bottom-line profits or rock-solid balance sheets. In other words, its subjective. Rather than spend excessive time settling on the best criteria for determining blue-chip stocks to buy for safety, Ive selected seven names that appear in the holdings of one or more of the following blue-chip exchange-traded funds : Monarch Blue Chips Core ETF (BATS: MBCC ), T. Rowe Price Blue Chip Growth ETF (NYSEARCA: TCHP ) and Fidelity Blue Chip Growth ETF (BATS: FBCG ). As always, Ill ensure that the selections provide reasonable sector diversification. In addition, the stock must have a positive annualized total return over the past one-year, three-year and five-year periods. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Here are seven blue-chip stocks to buy for safety and reduced volatility. NEE NextEra Energy $84.79 LLY Eli Lilly $308.89 AAPL Apple $150.70 TSLA Tesla $303.35 UNH UnitedHealth Group $521.02 SO Southern Company $77.25 COST Costco Wholesale $504.14 NextEra Energy (NEE) Nextra Energy (NEE) website on a mobile phone screen Source: madamF / Shutterstock.com NextEra Energy (NYSE: NEE ) is not only one of my favorite utility stocks but also one of my favorite stocks, period. I ts a traditional power company through Florida Power & Light, the countrys largest electric utility with more than 5.7 million customer accounts. Its also the worlds largest generator of renewable energy from wind and solar through its NextEra Energy Resources subsidiary. NEE has delivered an annualized total return of 2.9% over a one-year period , 17.8% over a three-year period and 19.5% over a five-year period, all significantly better than the S&P 500 . The company reported excellent second-quarter results in late July. Operating r evenue of $5.18 billion was 32% higher than a year earlier. On the bottom line, operating income of $948 million was 86% higher than a year ago. Story continues Analysts expect earnings per share to increase 12.6% this year to $2.87 and 7.7% next year to $3.09. Based on its current share price, NEE stock trades at 29.5x 2022 earnings and 27.4x 2023 earnings. Add in a 2% dividend yield and Im not sure how you couldnt like NEE stock. Eli Lilly (LLY) Eli Lilly and Company World Headquarters. Lilly makes Medicines and Pharmaceuticals XI Source: Jonathan Weiss / Shutterstock.com Eli Lilly (NYSE: LLY ) is an Indianapolis-based large-cap pharmaceutical company. Ten years ago, its three top-selling drugs by revenue were Zyprexa (for treatment of schizophrenia), Cymbalta (for the treatment of depression and anxiety) and Alimta (for the treatment of lung carcinoma). Today, the companys top three drugss are Trulicity (for diabetes), Taltz (for psoriasis) and Verzenio (for breast cancer). As we discovered during the pandemic, the drug companies typically viewed by consumers as uncaring, overcharging money machines turned out to be lifesavers. Hopefully, the balance between overcharging and undercharging can be found in the future by federal and state governments. In the meantime, Eli Lilly is doing just fine. In 2021 , it had slightly less than $6 billion in free cash flow ($7.26 billion net cash provided by operating activities less $1.31 billion in purchases of property and equipment). That means it converted 107% of its net income into FCF. Anytime you go above 100%, youre doing a lot right in your business. Forget the growth, or lack thereof, in recent quarters. These things go in cycles as the drug pipelines develop. Over every period, long and short, its delivered for shareholders with an annualized total return of 35.5% over a one-year period, 42.5% over a three-year period and 31.5% over a five-year period. Apple (AAPL) Close-up of Apple (AAPL) retail store Logo in Honolulu at the Ala Moana Center. Advertising the latest generation of the ipad, iphones, and ipods with a Retina display. Source: Eric Broder Van Dyke / Shutterstock.com I thought about putting Microsoft (NASDAQ: MSFT ) on my list of blue-chip stocks to buy for safety over Apple (NASDAQ: AAPL ). However, its down 19% over the past year, so it doesnt meet my criteria. AAPL stock is up 1.9% over the past 12 months. And its three- and five-year annualized total returns are 40.1% and 31.1%, respectively. Apple is Berkshire Hathaways (NYSE: BRK-B ) largest equity holding by a country mile for a reason. CEO Tim Cook keeps coming up with good ways to generate and grow revenue and profits. In March 2017, I said Apple was a value play : Currently, Apple stocks trailing 12-month free cash flow is $52.5 billion or $9.72 per share; an FCF yield of 6.9% based on its March 27 closing price of $140.88. By comparison, Microsoft has free cash flow of $3.49 per share for the trailing 12 months or an FCF yield of 5.4% based on its March 27 closing price of $65.10. Today, Apples and Microsofts FCF yields are 4.4% ( $107.58 billion in TTM FCF divided by $2.42 trillion market cap) and 3.6% ( $65.15 billion TTM FCF divided by $1.83 trillion market cap), respectively. While theyve both gotten more expensive over the past five years, Apple remains the value play of the two. However, I dont think MSFT is a bad bet if you can afford to buy both. Apple has excellent free cash flow and a strong balance sheet and possesses structural tailwinds that should be sustainable in a slowing economy, Treasury Partners Chief Investment Officer Richard Saperstein recently told Barrons . In short, AAPL stock is as blue-chip as they come. Tesla (TSLA) Tesla (TSLA stock) Motors store in Piazza Gae Aulenti square in Milan, Italy Source: Zigres / Shutterstock.com Its hard to believe Tesla (NASDAQ: TSLA ) is considered a blue-chip company, but the numbers dont lie. Over the past three fiscal years, the electric vehicle makers operating income has grown more than 8,000%, from $80 million in 2019 to $6.5 billion in 2021. On a trailing 12-month basis, Teslas been generating operating profits since June 2019. The business has gotten so brisk that the company is considering opening a gigafactory in Ontario or Quebec to take on some of the companys manufacturing needs for North America. According to reporting from Electrek, Canadas Minister of Industry and Innovation Francois-Philippe Champagne is rumored to have visited Teslas California plant as part of the current discussions to make a Canadian plant a reality. As a Canadian, I think thats a wise idea. Canada has an automotive history that dates back to the early 1900s . Tesla wants to produce 20 million vehicles annually in North America by 2030. A factory in Canada would certainly help make this possible. The company says it needs eight more factories to meet its goals. While there are many reasons why someone might buy Tesla stock, the fact that its been able to cut its cost to make each vehicle from $84,000 in 2017 to $36,000 today is a big reason why its become so profitable. With annualized total returns of 20.2%, 165.6% and 64.3% over the past one-year, three-year and five-year periods, respectively, I wouldnt bet against Tesla. UnitedHealth Group (UNH) The UnitedHealth (UNH) headquarters in Minnetonka, Minnesota. Source: Ken Wolter / Shutterstock.com The second of two healthcare companies on my list of blue-chip stocks to buy for safety, UnitedHealth Group (NYSE: UNH ), is a leading provider of healthcare-related services through four operating units. United Healthcare provides healthcare benefit plans to millions of Americans through employer and individual plans. Optum Health provides basic healthcare services through more than 60,000 affiliated physicians. Optum Insight is the companys tech unit that provides data analytics and consulting to the healthcare industry. Lastly, Optum RX is the companys pharmacy benefit manager and pharmacare business. Together, the four businesses generated revenue of $80.3 billion and operating profits of $7.1 billion in Q2, up 13% and 19%, respectively, year over year. Management expects full-year 2022 adjusted EPS of $21.65 at the midpoint of its guidance. Based on its current share price, it trades at 24.1x its projected 2022 earnings, slightly higher than its five-year average. Every once in a while, the subject of universal healthcare is raised by politicians and investors get nervous that, if this were to happen, UnitedHealth would be out of business. Thats unlikely. Switzerland has universal coverage thats required by law. Private insurers provide basic coverage with supplemental insurance available for additional services not covered by the basic plans. Analysts love UNH stock. Of the 26 covering it, 22 rate it a buy or overweight, and the average price target is $585.91, 12.5% above the current price. Shares have delivered an annualized total return of 26.5% over a one-year period, 31.8% over a three-year period and 22.4% over a five-year period. Southern Company (SO) the southern company logo displayed several times on a screen Source: 360b / Shutterstock.com Southern Company (NYSE: SO ) is the second of two utilities on my list of blue-chip stocks to buy for safety. The Atlanta-based company serves 9 million customers in Georgia, Alabama, Mississippi, and elsewhere through seven operating subsidiaries. The companys second quarter was good , with operating revenue of $7.2 billion , 38.6% higher than a year earlier. Over the first six months of the year, revenue increased 24.7% to $13.9 billion. Revenue was higher due to increased fuel costs and an exceptionally warm second quarter, which led to higher electricity use for air conditioning units. Excluding one-time items, earnings for the second quarter were $1.14 billion, 28.4% higher than a year ago. In the six months ended June 30, they increased 12.6% to $2.18 billion. Southern Company added close to 12,000 residential electric customers during the second quarter and an additional 7,000 customers for gas. In Q2, 48% of the energy used to serve its customers was natural gas, followed by coal (20%), renewables (17%) and nuclear (15%). In early August, the U.S. Nuclear Regulatory Commission permitted the company to begin operating Vogtle Unit 3 , the utilitys 45.7%-owned nuclear reactor in Georgia. Three other utilities own the rest of it. Unit 4 is still under construction, but its expected to be operating by the end of 2023. They are the only commercial reactors being built in the U.S. at the moment. Unit 1 of the Vogtle plant has been in operation since 1987 . Vogtle 2 went into service in 1989. Once all four are operating, nuclear power should become a more significant piece of the Southern Company pie, surpassing coal. Thats a good thing. SO stock has delivered an annualized total return of 22.3% over a one-year period , 12.4% over a three-year period and 12.2% over a five-year period Costco Wholesale (COST) Short-Term Profit Taking May Take a Bite out of the Costco Stock Price Source: Helen89 / Shutterstock.com Costco Wholesale (NASDAQ: COST ) is one of the best stories in retail. The companys membership warehouses continue to see a growing customer base of loyal shoppers. Yielding less than 1%, investors dont buy COST stock for the dividend. However, o ver the past year, shares delivered a total return of 9.5%, almost 24 percentage points higher than the entire U.S. market. The three- and five-year annualized return numbers are even more impressive at 21.9% and 26.6%, respectively. Given our inflationary times, Costcos value proposition makes it even more attractive as a long-term buy. Historically, the company has made most of its profits from its annual membership fees, passing on savings from suppliers in the form of lower prices. In August, the companys same-store sales increased 10.1% year over year, with retail sales of $17.55 billion in the month. Excluding gas and foreign currency exchange, its same-store sales increased 8.7%, with a substantial 11.7% increase from its Canadian locations. For the 52-week fiscal year ended Aug. 28, Costcos revenues rose 15.9% to $222.7 billion. As far back as 2012, Ive been a big fan of Costco . It operates one of the worlds best businesses. Part of the success is the business model. However, it ultimately comes down to the people. Costcos talent separates it from other discount retailers. COST is a buy whenever you have money to invest in blue-chip stocks. In my opinion, its in a league of its own. On the date of publication, Will Ashworth 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 . Will Ashworth has written about investments full-time since 2008. Publications where hes appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post 7 Blue-Chip Stocks to Buy for Safety in This Volatile Market appeared first on InvestorPlace . || 7 Stocks to Sell in a Bear Market: There comes a point when investors need to recognize the realities of the equities sector, which is the central theme undergirding the stocks to sell in a bear market below. It’s not about hating on particular companies. Indeed, many of these players offer intriguing business models. Unfortunately, though, the ground underneath us has changed, necessitating a shift in strategies.
Most notably, the impact of inflation has rippled throughout the entire economy. As thepurchasing powerof the U.S. dollar erodes, consumers have little choice but to hunker down as best as possible. For many households, this means reducing discretionary purchases to a minimum, while perhaps buying up essential, non-perishable products. Under this context, some names will flourish while others become stocks to sell.
Further, the erosion of purchasing power means thatconsumer sentimentis down in the dumps. That means less people will spend money unnecessarily, forcing several companies to cut their workforces. These actions make up a vicious cycle, another reason why folks need to get serious about stocks to sell in a bear market.
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So, without further ado, here are seven stocks to sell in a bear market:
Source: Sundry Photography / Shutterstock.com
The soaring housing market of the post-pandemic period perfectly illustrated the difference between the haves and have-nots. On one end of the spectrum, homeowners were ecstatic at the sudden boost in equity. But on the other end, an increasing number of prospective homebuyers became simply priced-out of the market.
Now, with the Federal Reserve committed to tackling inflation, an environment of rising interest rates doesn’t look good forRedfin(NASDAQ:RDFN), a full-service real estate brokerage. It’s interesting that, throughout much of the new normal, Redfin executives were talking up a good game about robust housing demand. But what did management do in June? Did someone saylayoffs?
I’ve gotten some criticism for choosing a company like Redfin as one of the stocks to sell in a bear market. But here’s the reality: If housing-related businesses truly felt confident about the underlying sector, they wouldn’t be handing pink slips to their employees.
Take advantage of any near-term pops in RDFN stock. Overall, I’m staying out of this one.
Source: Sundry Photography / Shutterstock
You might be tempted to thinkKB Home(NYSE:KBH), a homebuilding company, is one of the publicly traded securities to bank on right now. After all, how many times have we heard about theshortage of homes? With so much demand out there, KBH stock should be an easy winner.
Except for one problem: There’s a lot of “want” out there, not demand. Let’s just assume that homebuilders — companies that have been in this business for decades — aren’t stupid. If such a massive demand base existed, why wouldn’t they max out their capacities?
Aside from supply-chain disruptions, the fundamental headwind here is the wealth gap. When you consider the share oftotal net worth of the middle classversus the same metric for thetop 1%of wealth holders, you’ll notice that regular everyday folks are disastrously losing ground.
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In other words, KB Home does not have enough clients to selltobecause most wealth is now concentrated in fewer hands. Because of that, KBH stock is relevant, but not at its current premium.
Source: Tada Images / Shutterstock.com
Yes, I’m picking on real-estate-related companies because that’s what I’m most bearish on at the moment. Even companies that supposedly deliver innovation to an age-old sector, likeOpendoor Technologies(NASDAQ:OPEN), are suspect right now.
Opendoor specializes in iBuying, essentially leveraging digitalization protocols to add greater efficiency and convenience to real-estate transactions. On paper, Opendoor sounds like theAmazon(NASDAQ:AMZN) of home buying. Personally, though, I see it more likeSears(OTCMKTS:SHLDQ).
Apparently, most people will own three homes in their lifetime. That’s a very small transactional number to impart conveniences on. And remember, imparting conveniences on inherently inconvenient matters costs money.
Besides, since real estate is the most important purchase most families will make, rational buyers will eschew speed and convenience for better ensuring the right deal. That’s why I believe OPEN tock is one of the stocks to sell. The business model may not make sense and certainly, the economic environment is bearish for real estate right now.
Source: JHVEPhoto/shutterstock.com
Luminar Technologies(NASDAQ:LAZR) was one of the top performers of the new normal. Specializing in lidar systems hoping to pave the way for fully autonomous vehicles, LAZR stock enjoyed a blistering debut following its reverse merger with aspecial purpose acquisition company.
Now so far this year, however, LAZR is down by more than 45%. To be clear, Luminarisone of the most compelling leaders in the lidar space. It’s just that, in this economic ecosystem, that might not matter.
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For on, quite a few people are still working from home, although that may change. Additionally, automotive companies will be able design their own in-house self-driving systems as underlying technologies decline in cost. Therefore, competitive pressures could also stymie Luminar.
Source: CLS Digital Arts / Shutterstock
The above stocks to sell might ruffle some stakeholders’ feathers. However, I should encounter little resistance withRH(NYSE:RH) stock. Formerly known as Restoration Hardware, RH specializes in upscale home-furnishing products. Throughout much of the new normal, the company flourished as consumers who bought into the housing frenzy also spent big on quality furnishings.
Looking back at the circumstances, however, RH gave off an early warning signal in August 2021. Shares hit an all-time closing high and from there, saw a gradual erosion followed by a steep decline throughout the early 2022. On a year-to-date (YTD) basis, RH stock is down more than 50%, although there’s evidence that the magnitude of selling is easing.
Does this mean there’s a chance RH could make a comeback? Anything is possible. But if folks can’t afford furniture for their new homes, there are some deeper underlying economic challenges at play. Also, without new stimulus checks to bolster household budgets — plus a lack of homebuyers in the first place — RH stock seems questionable.
Source: rafapress / Shutterstock
Most readers may seeSignet Jewelers(NYSE:SIG) as an obvious candidate for stocks to sell in a bear market. After all, in an economic downturn, households are not going to spend big on jewelry, the ultimate consumer discretionary item.
There’s another reason why SIG stock may be one of the top stocks to sell in a bear market, however. According toresearch, “economic conditions are linked to marriage patterns.” Basically, climbing unemployment is “associated with reduced odds of marriage.”
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With reduced odds of marriage as the economy nears a recession, Signet Jewelers will logically see reductions in revenue. That aside, I don’t have anything against Signet. But investors should still recognize the harsh realities of today’s market.
Source: JHVEPhoto/ShutterStock.com
An upscale department store chain,Dillard’s(NYSE:DDS) has been a shocker of an investment this year. As peers likeMacy’s(NYSE:M) suffer significant losses, Dillard’s has enjoyed relative success. Currently, DDS stock is up 18% YTD — not bad considering major indices are down by double digits over the same period. Still, I think luck will run out for Dillard’s.
Again, like many of the other stocks to sell in a bear market, I don’t have anything against the company. It’s just that we need to recognize broader realities. As theWall Street Journalpoints out,consumer sentiment remains low. A few positive blips here and there won’t change the overall narrative.
Essentially, you have the double whammy of the dollar losing its purchasing power and employers — particularly in the high-paying tech space — laying off workers. To me, it’s practically inevitable that demand for consumer discretionary items will fall. That bodes poorly for DDS stock.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, Josh Enomotodid not hold (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
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The post7 Stocks to Sell in a Bear Marketappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 20485.27, 20159.50, 20209.99, 21147.23, 21282.69, 20926.49, 20602.82, 18541.27, 15880.78, 17586.77
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-08-30]
BTC Price: 9598.17, BTC RSI: 39.24
Gold Price: 1519.10, Gold RSI: 62.31
Oil Price: 55.10, Oil RSI: 48.59
[Random Sample of News (last 60 days)]
Is Open Season for Central Bank Gold Buying About to Begin?: On July 26, the European Central Bank (ECB) made an announcement that could have an impact of future gold prices. According to Reuters, European central banks ditched a 20-year-old agreement to coordinate their gold sales, saying they have no plan to sell large amounts of the metal, the ECB said on Friday. ECB Press Release “>Signatories of the fourth Central Bank Gold Agreement no longer see need for formal agreement as market has developed and matured.” “>Signatory central banks confirm gold remains an important element of global monetary reserves and none of them currently has plans to sell significant amounts of gold.” “The European Central Bank (ECB) and 21 other central banks that are signatories of the Central Bank Gold Agreement (CBGA) have decided not to renew the Agreement upon its expiry in September 2019” “The first CBGA was signed in 1999 to coordinate the planned gold sales by the various central banks. When it was introduced, the Agreement contributed to balanced conditions in the gold market by providing transparency regarding the intentions of the signatories. It was renewed three times in 2004, 2009 and 2014, gradually moving towards less stringent terms.” “Since 1999 the global gold market has developed considerably in terms of maturity, liquidity and investor base. The gold price has increased around five-fold over the same period. The signatories have not sold significant amounts of gold for nearly a decade, and central banks and other official institutions in general have become net buyers of gold.” “The signatories confirm that gold remains an important element of global monetary reserves, as it continues to provide asset diversification benefits and none of them currently has plans to sell significant amounts of gold.” Why Now? The decision to not renew the agreement highlights how sentiment toward the precious metal have changed since the global financial crisis. Additionally, European central banks have become net purchasers since the 2008 financial crisis, with Poland and Hungary most recently building up gold assets on a large-scale. Story continues “There has been a sea change in central banks’ attitudes toward gold since the financial crisis,” said Natalie Dempster, a managing director at the World Gold Council. “Europe is itself now a net buyer of gold – no one needs a sales agreement anymore.” Keep an Eye on the Central Banks According to BullionStar, “…this latest news about the non-renewal of the CBGA is important because it is the best evidence yet that there most likely is an unpublished agreement among the participating European central banks not to buy any gold, but that this private agreement not to buy gold is now being torn up. Which would mean that open season for central bank gold buying is about to begin.” Others are saying there could be increased fears of central bank selling. My take is that the news should lead to increased volatility in the gold market. This article was originally posted on FX Empire More From FXEMPIRE: Fed Meeting And Trade Talks to Dominate This Week’s Action Geopolitical Risk and Sentiment towards Monetary Policy the Key Drivers Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 29/07/19 USD/CAD Daily Forecast – Multi-Frame Analysis Showing Bear Dominance EUR/USD Daily Forecast – Euro Struggles to Gain from Support Us Stocks Seem To Be Following Our Predictions – Get Ready (PART II) || Winklevoss-Backed Flexa Expands Crypto Payments Service to Canada: Payment solutionFlexais going international with a Canadian market launch.
Flexa, which launched theU.S. editionof its SPEDN cryptocurrency wallet in mid-May, announced its Canadian expansion in an officialblogpost. Backed by cryptocurrency exchangeGemini, Flexa’s international movement is preceded by both support for cryptocurrencieslitecoinandzcashand the launch of an Android beta mobile app earlier this summer.
Functioning like a pipeline for commercial transactions, SPEDN processes regular purchases in cryptocurrencies like bitcoin, ethereum, bitcoin cash or native tokenflexacoin.
Related:Winklevoss Twins’ Gemini Exchange May Join Facebook’s Libra Project
Today, SPEDN is now open to Canadians on both iOS and Android. The post claims 7,500 Canadian merchants will be on-boarded by early September.
With all funds insured and custodied by Gemini, Flexa says Canadian and U.S. users can use SPEDN in either country free of conversion fees or exchange rates issues.
Speaking with CoinDesk, Flexa co-founder Tyler Spalding said the payments processor plans on launching in a few more countries by the end of the year but cannot disclose the locations.
On-boarding additional coins is also in the works.
Related:Gemini to Apply for Broker-Dealer License in Bid to Trade Crypto Securities
“Regarding the market, we anticipate considerable growth of ‘spendable cryptocurrencies’ like stable coins and loyalty coins over the next year that will drive consumer demand for spending,” Spalding said. “We are working with multiple projects and intend to launch many new coins on the network shortly. For now, we’ve been really impressed with the current communities and their repeated use of the SPEDN app, particularly litecoin.”
Canadian cryptocurrency exchangeCoinsquarepartnered with Flexa for the launch.
Canada image via CoinDesk archives
• Gemini Hires 5 Former Coinbase Engineers for New Chicago Crypto Office
• You Can Now ‘Spedn’ Bitcoin at GameStop, Barnes & Noble and More || What is KuCoin?: KuCoin is a cryptocurrency exchange initially from China that relocated to Hong Kong for a more favourable regulatory climate. It has a solid reputation for being user-friendly (great for beginners), trustworthy, and secure. The platform is currently ranked number 41 in the list of largest crypto exchanges by CoinMarketCap, with an adjusted 24-hour trading volume of almost $200 million. KuCoin lists over 400 cryptocurrencies and tokens and is known for being an early adopter of new digital coins. Traders who are looking to experiment with new cryptocurrencies are likely to find this platform a useful resource. KuCoin also has a native cryptocurrency called KuCoin Shares (KCS) which powers a loyalty scheme for end users. Low fees and incentives KuCoin doesn’t have deposit fees. The trading fee is 0.1%, while withdrawal fees vary depending on the cryptocurrency. Relative to other exchanges, withdrawal fees are low – just 0.0005 for BTC, 0.01 for ETH, or 4.2 for USDT. NEO and GAS have zero withdrawal fees. Transactions on the platform are fast. KuCoin processes low-value withdrawals in seconds while larger withdrawals require about 10 minutes to be completed. The exchange processes deposits in two minutes or less. KuCoin uses a series of bonuses to encourage users to buy and use its native cryptocurrency, KuCoin Shares. Holders receive dividends daily and benefit from discounts on withdrawal and trading fees. Moreover, users that hold KCS get exclusive promotions and extra rewards for their activity. This is a way for the platform to share part of its profits with KCS owners and encourage adoption at the same time. People who have an account on the platform can receive incentives for bringing in new users. A trader who invites new members receives a portion of the trading fees collected from the new users. If this sounds a little like a pyramid scheme, that’s because it is. Most probably, the platform will have to end this practice as it will prove expensive as the number of invitations grows. Story continues No fiat currency The downside of using KuCoin is that the exchange doesn’t work with fiat currency. So, you’ll need to use a different service to get Bitcoin or Ethereum before trading on KuCoin. While most digital coins can be purchased with BTC or ETH only, some cryptocurrencies can be bought with NEO, USDT, or KCS. Besides this inconvenience, the platform works like most crypto exchanges on the market. Users can keep track of their assets easier and manage their funds through a modern, straightforward interface. The exchange also has a two-factor authentication feature that adds an extra layer of security to users’ accounts. KuCoin features KuCoin has been working to build a solid reputation with more than just low fees. The Chinese cryptocurrency exchange relies on a tried and tested mix of features meant to separate its service from competitors. Among these, the platform lists the most advanced API in the market, excellent customer service, scalability, safety, and an exceptional team of cryptocurrency experts. API The platform has a powerful API interface. KuCoin APIs are divided into REST APIs (with four categories of private and public data) and WebSocket feeds (which mostly provide public market data). Customer service The exchange provides 24/7 support through email, hotline, and directly on the website. Note that customer support is located in Hong Kong, so you may need to overcome cultural barriers when speaking to a consultant. Scalability The platform continues to add new cryptocurrencies and claims to support an infinite number of trading pairs. It is a pioneer in implementing pairs that aren’t yet listed by other platforms. Safety The crypto exchange has implemented a series of security levels to protect users’ funds. It has a standard transfer encryption protocol to ensure the privacy of its users. Moreover, the platform uses a private network powered by Amazon Web Services Cloud to store micro-wallets. The team KuCoin was designed and developed by a group of blockchain enthusiasts with a solid professional background in the industry. The team focuses on research and development as essential elements for success. KuCoin Shares The KuCoin cryptocurrency, KCS, is a decentralised cryptocurrency based on top of the Ethereum protocol. It also works with all Ethereum wallets. It started with a total volume of 200 million KCS. The platform has issued a plan for buyback disposal, which aims to keep a constant 100 million tokens on the market. According to KuCoin, the company will use 10% of each quarter’s net profit to buy back and destroy KCS. The takeaway At first glance, KuCoin isn’t just another cryptocurrency exchange. The team appears to have a long-term plan, a vision for creating a viable service, and encouraging crypto adoption at a global level. Despite not supporting any fiat currency, the platform continues to gain users thanks to its willingness to share profits and improve services. The post What is KuCoin? appeared first on Coin Rivet . || Markets Turn Cautious, FOMC Less Dovish Than Expected, Manufacturing Data Mixed: The U.S. futures are flat in early Thursday trading after the FOMC minutes disappointed traders. The minutes were largely expected to confirm deeper rate cuts later this year and did just the opposite. The FOMC is concerned the market not view last month’s rate-cut as a shift in policy stance but as a mid-cycle adjustment. In the minutes, the cut is described as a recalibration effectively negating the “one hike too many” from last December. Traders hoping for deeper rate cuts had their hopes dashed again this morning when Fed President Esther George said the July cut as unnecessary.
The market did not take the minutes well. The general consensus is the FOMC is taking too long to act, that a recession is more likely than ever, and sent the yield-curve briefly into full-inversion. The curve has since re-flattened but yields remain near their long-term lows.
In stock news shares of Hormel and Dick’s were both moving higher in the pre-market session. Hormel reported better than expected revenue and earnings and provided favorable guidance, shares advanced 3.5% on the news. Dick’s reported much better than expected comp-store sales, 3.2% versus 0.9% expected, and raised full-year guidance. Shares of the stock shot up 10% on the news, aided by the CEO’s comments. The CEO of Dick’s says the company’s investments are working and headwinds are behind them.
Markets in the EU are flat and mixed at midday following the release of the FOMC minutes. The minutes have reinvigorated fears of recession despite positive data and strong consumer spending in the U.S. The DAX is the only major index up in the early portion of the day, it has advanced 0.17%. The CAC is down about -0.20% while the FTSE is down about twice that.
Politics remains a focus in the EU. On the Brexit front, German Chancellor Angela Merkel says the UK should come up with an alternative to the Irish backstop, comments that highlight the contentious atmosphere surrounding the issue. In Italy, the main opposition party has announced it is ready to hold talks with M5S to form a new coalition government.
In stock news, NMC Health saw its shares surge another 30% after it restated guidance. The company is also a possible target for investment from two major hedge funds.
Asian markets closed flat and mixed on Thursday as traders re-adjust to the new FOMC policy stance. the Hang Seng posted the largest loss at -0.84% while the Kospi was not far behind at -0.69%. The Australian ASX posted the largest advance at 0.24% followed by the Shanghai Composite’s 0.11% and the Nikkei’s 0.05%. Chipmakers were among the day’s biggest losers. In Japan, manufacturing PMI showed the manufacturing economy slowed for the fourth month. This extends the manufacturing recession and ups the chances for BOJ policy intervention.
Thisarticlewas originally posted on FX Empire
• Italy: Politics & Markets
• AUD/USD Price Forecast – Australian dollar continues to churn
• EUR/USD Mid-Session Technical Analysis for August 22, 2019
• EUR/USD Price Forecast – Euro continues to show volatile trading range
• Bitcoin: Extreme Fear or Extreme Opportunity?
• Natural Gas Price Forecast – Natural gas markets likely to continue consolidating || The Fed’s new real-time payments system is no threat to Bitcoin: The Federal Reserve intends to create a real-time payments system for banks to send money between themselves. The offering will be operational sometime after 2023, and available for transactions up to $25,000.
And this has worried a few people cautiously holding their crypto bags. On Twitter, derivatives trader Tone Vaysarguedthat while it might not affectBitcoin, it could spell bad news foraltcoinsfocused on payments—XRP,LitecoinandBitcoin Cash. But the reality is the system is nothing new, and will have little to no effect on the crypto industry.
The payments system, called FedNow, aims to bring traditional banks into the 21st century, with such revolutionary changes as working on weekends and taking fewer than five days to process. Things that are standard practices for other financial businesses. For example, challenger banks like Venmo offer instant transactions between Venmo users and for withdrawals to traditional banks.
The Federal Reserverefers to serviceslike Venmo, however, as “closed loop” systems, since both parties involved in the transaction must be on the same platform to do business. By contrast, FedNow aims to provide a system that any bank throughout the U.S. can use. “FedNow will permit banks of every size in every community across the country to provide real-time payments to their customers,"saidFederal Reserve Board Governor Lael Brainard.
Even still, FedNow will offer little more than isalready availablewithin the United States. The Clearing House, owned by Citigroup, Bancorp, JP Morgan and a number of other banks,launcheda faster payments system back in 2017, offering real-time payments. Indeed, before FedNow could even begin to complete with crypto-based payment systems, it must first duke it out withThe Clearing House.
What’s more, real-time payment and settlement services among banks are nothing new on the international scene—in fact, such a system has been in place in the U.K. for the past decade. The U.K.’s Faster Payments Scheme (FPS), launched in 2008, allows financial institutions in the country to make instant transfers of up to £250,000 among participating banks.
The U.K.’s FPS hasn’t stifled crypto in any way, and neither will FedNow, primarily because the real appeal for cryptocurrencies as payments relies on cross-border transactions. Crypto companies such as Ripple Labs are keenly aware of this. Ripple, in fact, has built a multi-billion-dollar business using cross-border payments as the chief use case for its token XRP.
Interestingly, instead of being threatened by the Fed’s efforts, Ripple has beenactively helpingthe bankers develop a faster payments systemsince at least 2015. And Ripple’s global head of infrastructure innovation, Dilip Rao,seemed curiously excitedby the Fed’s announcement on Twitter, prompting some to speculate about Ripple’s potential involvement in FedNow.
Rao has since put those rumors to bed, cautioning eager XRP holders not to “read any more into” his comments. But if Ripple, which ostensibly stands the most to lose from a Fed-driven payment system, is at the very leastnot bothered by it, then that tells you all you need to know. || Price of Gold Fundamental Daily Forecast – Big Job Report Miss Will Put 50bp Rate Cut Back on Table: Gold futures are edging lower early Friday as investors await the release of the June U.S. Non-Farm Payrolls report at 12:30 GMT. Position-squaring ahead of the report is limiting the price action, but giving the market an early downside bias is a stronger U.S. Dollar and firming U.S. Treasury yields. However, weaker demand for risky assets may be helping to limit losses.
At 08:37 GMT,August Comex goldfutures are trading $1416.50, down $4.00 or -0.28%. Despite the early weakness, the market is in a position to post its seventh consecutive weekly gain.
Traders expect U.S. Non-Farm Payrolls to show the economy added 162,000 jobs in June. In May, the economy added 75,000 jobs, well below the forecast. U.S. private payroll employment is expected to show an increase of 90,000 from the previous month, according to a Reuters poll. On Wednesday, an ADP Non-Farm Employment Change report showed the private sector added 102,000 jobs. This came in below the 140,000 estimate.
Average Hourly Earnings are forecast increasing 0.3% after gaining 0.2% in May. That would lift the annual increase in wages to 3.2% from 3.1% in May, which was the slowest rise in eight months. The average workweek is expected to have been unchanged at 34.4 hours in June for a third straight month.
The unemployment rate is expected to have remained near a 50-year low of 3.6% in June for a third straight month. However, the jobless rate could surprise on the upside as a survey last week showed consumers less upbeat in their perceptions of the labor market this month.
Evidence that headline payrolls rebounded in June along with wage gains is not likely to be enough to discourage the Federal Reserve from cutting interest rates later in the month amid growing evidence the economy is slowing.
The recent price action indicates that traders expect at least a 25-basis point rate cut by the Fed. So a steady-to-slightly weaker jobs report is likely already priced into the market. A big miss by the report could put a 50-basis point rate cut back on the table. This could be bullish for gold prices.
On June 25, Fed Chair Jerome Powell and St. Louis Fed President James Bullard dampened the chances of a half-point rate cut, but extremely weak data could increase its chances again. This would weaken the U.S. Dollar and drive up demand for dollar-denominated gold.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/07/19 || US President Donald Trump Says He’s ‘Not a Fan’ of Bitcoin: Donald J. Trump tweeted Thursday that he is “not a fan” of cryptocurrencies, saying they were “not money” and referencing their price volatility relative to the dollar in his first public comments on crypto since becoming president of the United States. Trump also criticized Facebook ’s Libra cryptocurrency project in subsequent tweets, saying it “will have little standing or dependability” and suggesting U.S. regulators would subject the social media giant to regulation : “If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National […] and International.” Related: Fed Chairman Jerome Powell Compares Bitcoin to Gold (Facebook subsidiary Calibra , which is supposed to develop an open-source wallet for the cryptocurrency, has registered as a money services business with the Financial Crimes Enforcement Network.) Trump has criticized Facebook in the past for its actions in banning right-wing figureheads, alongside other social media outlets. To date, however, he has not discussed Facebook’s cryptocurrency plans. The company first publicly released its white paper and supporting documentation for Libra last month. The 45th president held a “social media summit” earlier on Thursday, addressing these concerns. Regulators and lawmakers across the U.S. have taken notice of Libra, with both the U.S. Senate Banking Committee and the House Financial Services Committee scheduling hearings next week with Facebook’s blockchain lead David Marcus. Related: Bitcoin’s Price Charts Point to an Impending ‘Golden Cross’ The Senate committee in particular has previously expressed concerns about Facebook’s track record with user data and privacy, writing an open letter to the company in May. Marcus responded to the letter earlier this week , telling the lawmakers that Facebook would not itself collect any personal financial credentials. On Wednesday, Federal Reserve Chairman Jerome Powell also said that Libra should not be allowed to move forward unless and until the company addresses anti-money laundering and know-your-customer concerns, among other issues. Story continues Financial stability is also a factor that Powell addressed, with lawmakers in both houses questioning the fact that Facebook has set up an entity in Switzerland affiliated with the project. Facebook declined to comment on Trump’s comments. ‘Unlawful behavior’ In his tweets Thursday , Trump took aim at the potential for using cryptocurrencies in illegal activities, citing drug trafficking in particular. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he said. In a final tweet, he added: “We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” While Trump himself had yet to weigh in on cryptocurrencies prior to Thursday, his Treasury Secretary has been a strong proponent of greater cryptocurrency regulations. Steven Mnuchin has been calling for greater crypto regulation since the beginning of 2018 , calling on the G20 to take up the issue during an (at the time) upcoming meeting in March. This year, the Financial Action Task Force published guidance for central banks, calling for stringent know-your-customer information collection practices. The U.S. Treasury Department held the FATF presidency until the end of June. “We will not allow cryptocurrency to become the equivalent of secret numbered accounts [and] we will allow for proper use, but we will not tolerate the continued use for illicit activities,” Mnuchin said in remarks prior to the rules’ publication. In contrast, acting White House Chief of Staff Mick Mulvaney has previously called for a more lenient regulatory framework , saying, “if we over-regulate and discourage people from entering the marketplace, that has bad consequences.” Donald Trump image via Shutterstock Related Stories Bitcoin Price Drops $2K in 24 Hours But Bull View Still Intact Bitcoin Dips $1k In 1 Hour as Markets Take a Hit || Oil Price Fundamental Daily Forecast – Threat of Chinese Counter-Measures Weighing on Prices: U.S. West Texas Intermediate and international-benchmark Brent crude oil are trading lower on Thursday as fears of recession are leading to increasing worries over future demand. An unexpected build in American Petroleum Institute (API) and U.S. Energy Information Administration (EIA) weekly inventories is also pressuring prices. We’re also looking at follow-through selling following disappointing economic reports in China and Europe on Wednesday. At 10:10 GMT, October WTI crude oil is trading $54.20, down $1.03 or -1.85% and December Brent crude oil is at $57.62, down $1.02 or -1.74%. There is also breaking news that China has to take counter-measures to latest U.S. tariffs. Recession Fears Recession fears were raised on Wednesday after the bond market flashed a troubling signal about the U.S. economy. This increased worries over lower future demand. The fears were triggered when the yield on the benchmark 10-year Treasury note briefly broke below the two year rate, “an odd bond market phenomenon that has been a reliable indicator of economic recessions,” according to CNBC. A recession occurred, on average, 22 months after the inversion, Credit Suisse research showed. Nonetheless, investors are bailing out of higher risk assets like crude and seeking shelter in Treasurys and Japanese Yen. EIA Reports Surprise Inventories Build On Wednesday, the government reported that U.S. crude stocks grew by 1.6 million barrels the week-ending August 9, compared with analyst expectations for a decrease of 2.8 million barrels, as refineries cut output, the EIA said in a report. Additionally, at 440.5 million barrels, inventories were about 3% above the five-year average for this time of year, the EIA said. Impact of Trade Dispute Spreading Also on Wednesday, China reported disappointing data for July, including a surprise drop in industrial output growth to a more than 17-year low and a slump in exports sent Germany’s economy into reverse in the second quarter. Both reports underlined the widening economic cracks as the trade war between the United States and China intensifies. Story continues Daily Forecast Breaking news is having an impact on crude oil prices today. Early Thursday, China said it has to take necessary counter-measures to the latest U.S. tariffs on $300 billion of Chinese goods, according to its finance minister. The ministry also said the U.S. tariffs violate a consensus reached by leaders of the two countries and get off the right track of resolving disputes via negotiation, according to CNBC. This announcement comes just two days after President Trump announced the delay of tariffs until mid-December on some goods. That news drove crude oil prices sharply higher so counter-measures by China could weigh even further on crude prices throughout the day. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Tech Analysis – Recap and Mid-Day Review Volatile Markets Poised To Move Lower, Recession Fears Mount, China Vows Retaliation The Bond Market Driving The Show E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – August 15, 2019 Forecast Should You Care About The Yield Curve Inversion? China Fixes Weaker Midpoint, Aussie Firms on Blowout Job Gains, RBA Warns of ‘Self-fulfilling Downturn’ || Billionaire investor Tim Draper is hedging his $250,000 bitcoin price call: Billionaire investor Tim Draper has made headlines for famously predicting bitcoin’s price will reach $250,000 by 2022, and on Thursday he reiterated that call — albeit with a slight hedge.
During an interview with Yahoo Finance’s YFi PM to announce the launch of Grit BXNG, the boxing gym Draper invested in that will be the the first ever gym to accept bitcoin, he extended the timeline of his bitcoin call a bit to 2023.
“$250,000 by 2022, and I’m hedging a little, maybe Q1 2023,” he said. “It may be Q1 2023, but it will be [$250,000] before that.”
Interestingly, Draper didn’t increase his price target since bitcoin (BTC-USD) has seen a bit of a boost off the back of market volatility amidst an ongoing U.S.-China trade war dragged down stocks and global bond yields. That boost led many,including hedge fund founder Kyle Bass, to conclude bitcoin was being seen by some as a “digital gold” safe haven investment rather than just a speculative digital currency.
But Draper hasn’t given up on that use case for the cryptocurrency just yet. By pushing for Grit BXNG to accept it as a payment, he pointed out the company would be able to avoid the payment processing fees associated with processing credit card payments.
“I’m the first customer he’s had who paid in bitcoin, and by the way, I was a little reticent to do it because I know what that stuff’s worth,” he joked, adding that the cryptocurrency will always stand apart from its competitors, including Facebook’s (FB) proposed Libra coin, for being the leading decentralized currency.
“You know it’s interesting, it’s consolidated more than I thought it would,” Draper said. “I thought there would be many more competitors at this point that were really relevant, but people have consolidated toward bitcoin because it’s decentralized and that’s why they get the flak at Facebook for being a centralized currency.”
Either way, for Draper, who has already famously poured millions into bitcoin, if the cryptocurrency does eventually appreciate to meet his price target, Grit BXNG’s move may prove out to be another very salient move.
“It’s good, I’m an investor in Grit, it goes into our pile of money. Things will work out,” he laughed.
Zack Guzman is the host ofYFi PMas well as a senior writer and on-air reporter covering entrepreneurship, startups, and breaking news at Yahoo Finance. Follow him on Twitter@zGuz.
Read the latest financial and business news from Yahoo Finance
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. || Bitcoin to hit $15,000 as consensus grows on safe haven status: The devaluation of Chinas currency, currently rattling global financial markets, shows that Bitcoin is now becoming a safe haven asset. Thats the view of Nigel Green, Chief Executive and Founder of deVere Group. The Chinese renminbi fell to under seven to the US dollar on Monday, the lowest in more than a decade, igniting drops in stocks and emerging market currencies and driving a rally in government bonds. Bitcoin jumped 10% as global stocks were rocked by the devaluation of Chinas yuan, the trade war with the US intensifying. This is not a coincidence. It reveals that consensus is growing that Bitcoin is becoming a flight-to-safety asset during times of market uncertainty. Bitcoin is currently realising its reputation as a form of digital gold, Green comments. Up to now, gold has been known as the ultimate safe haven asset, but Bitcoin, which shares its key characteristics of being a store of value and scarcity, could potentially dethrone gold in the future as the world becomes increasingly digitalised. With the Trump administration now officially labelling China a currency manipulator, Green believes that investors are set to continue to pile in to decentralised, non-sovereign, secure currencies such as Bitcoin to protect them from the turmoil taking place in traditional markets. The legitimate risks posed by the continuing trade dispute, Chinas currency devaluation and other geopolitical issues, such as Brexit and its far-reaching associated challenges, will lead an increasing number of institutional and retail investors to diversify their portfolios and hedge against those risks by investing in crypto assets, he says. This will drive the price of Bitcoin and other cryptocurrencies higher. Under the current circumstances, I believe the Bitcoin price could hit $15,000 within weeks, Green concludes. The post Bitcoin to hit $15,000 as consensus grows on safe haven status appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
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GOODLUCK! 🚀💯 https://t.co/54tILLAvD2 || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Alpha Male $BTC Takes Submissive Bear from Behind as the Bear's family is Forced to Watch (5:10) (HD) https://t.co/leOOaSGtfT || #КУПИТЬ #БИТКОИН, #BITCOIN #ПРОДАТЬ,#ОБМЕНЯТЬ.САМЫЙ КРУПНЫЙ #ОБМЕННИК #КРИПТОВАЛЮТ В СНГ https://t.co/V39rDos9zF. https://t.co/9YVRHJtcBp
Купить Биткоин Bitkoin продать, обменять криптовалюту BitcoinVip. в Алматы. САМЫЙ КРУПНЫЙ #ОБМЕННИК #КРИПТОВАЛЮТ В СНГ BitcoinV... https://t.co/PVBoFcVGwV || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Hodler's Digest, July 15-21: Libra Special! Top Stories, Price Movements, Quotes and FUDs of the Week https://t.co/6EPoCf11wK || (XP/BTC)
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$QTUM $ONT $EOS $WAX $UTK $STORM $CENNZ $ELF $BTC $LOOM $DMT $TRX $ETC $PLR $ETH $MAN $XZC $CND $NXT $PIVX $DDD $GRS $RIF $BNT $SKB 373100419 https://t.co/LCySm32OaJ
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Trend: up || Prices: 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28, 10334.97
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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)]
What to Expect From Ford Motor Company in 2018: In 2018, Ford Motor Company (NYSE: F) is expected to launch new products, including the long-awaited return of the midsize Ranger pickup; introduce some changes to the current product line; and make more big-picture future-tech moves as CEO Jim Hackett clarifies his vision for Ford as a high-tech provider of personal mobility. What does all that mean for long-suffering Ford investors? Here's what we know is coming, what I think is coming, and what's likely for Ford as 2018 unfolds. The big news: The return of the Ranger Ford confirmed the rumors a year ago: The Ranger pickup, discontinued in the U.S. in 2011, will return to Ford's U.S. lineup as a 2019 model . Ford is expected to show it soon -- possibly as soon as this weekend -- and it'll go into production in Michigan before the end of the year. The new-to-the-U.S. Ranger would likely be an overhauled version of the Ranger that Ford has sold in a number of international markets since the U.S. version was discontinued. That's not a bad thing at all: The current Ranger gets rave reviews in places like Australia as a rugged, capable off-roader. An orange Ford Ranger pickup with European license plates driving on a muddy trail. The current Ranger that Ford sells in many international markets is well-regarded for its off-road ability. Expect the new U.S. Ranger to be a revamped version of this one. Image source: Ford Motor Company. That's a clue as to how Ford will market the new Ranger in the United States. For most of its life, the old Ranger was a fairly bare-bones truck -- but the new one is likely to be positioned as a "lifestyle vehicle," a rival to General Motors ' (NYSE: GM) GMC Canyon and Fiat Chrysler Automobiles ' (NYSE: FCAU) Jeep Wrangler. Expect the U.S. version of the Ranger to build on the current model's off-road abilities while adding creature comforts and refinement. A high-performance Ranger Raptor is on the way, too. (A Ranger rivaling the Wrangler? Yep, and vice versa: FCA will soon launch a Wrangler-based pickup -- and the Ranger will be followed in another year by an all-new Bronco, which is expected to be a more direct Wrangler competitor.) The new Ranger is expected to go into production this fall at Ford's Michigan Assembly Plant, near Detroit. An overhauled Edge and a renamed Lincoln Ford is also revamping its midsize SUVs in 2018. The five-passenger Ford Edge is getting a light facelift, some new technology, and -- for the first time -- a high-performance version: The new Edge ST gets a revamped sport suspension, a new 8-speed automatic transmission, and a 335-horsepower version of Ford's well-regarded 2.7-liter twin-turbo EcoBoost V6. Story continues The Edge's upscale sibling, the Lincoln MKX, is also getting an update, starting with its name. From the 2019 model on, it'll be known as the Lincoln Nautilus . Both the Nautilus and the revamped Edge are expected to arrive in U.S. showrooms this summer. A blue Edge ST, a version of the midsize Edge SUV with sporty black wheels and a rear spoiler, parked with a city skyline visible in the background. Ford's first-ever high-performance Edge ST will arrive at U.S. dealers later this year. Image source: Ford Motor Company. There's another new Ford in the works There have been reports that Ford is working on an all-new crossover SUV, a compact model (think Focus-sized) that will slot into Ford's lineup between the small EcoSport and the Escape. It'll essentially replace the C-Max, the hybrid that Ford has built in Michigan for the last few years. (C-Max production will end in a few months as Ford revamps that factory to make the Ranger.) This new Ford crossover will almost certainly be made in Mexico. But will we see it in 2018? It's very possible -- but it's also possible that it won't debut until next year. What about that all-new Bronco? Ford has said that an all-new truck-based SUV called the Bronco will go into production late in 2019 at the same Michigan factory that will build the Ranger. But will we see the hotly anticipated new Bronco in 2018? It's possible -- Ford previewed the most recent redesigns of the Edge and F-150 with "concept" vehicles a year before the production versions were shown. It could choose to do the same with the Bronco, showing a concept version sometime in the next few months. (It could happen as soon as next week, at the North American International Auto Show, in Detroit.) But I won't be surprised if Ford decides to keep the Bronco completely under wraps for another year, until the North American International Auto Show in January 2019, so as to keep the spotlight on the Ranger until its launch this fall. Ford's transformation will start to take shape 2017 was a year of transition for Ford. The Blue Oval got a new CEO, Jim Hackett, in May -- and the company's senior-management structure was completely overhauled in the weeks that followed. In his first months as CEO, Hackett presented some big ideas for Ford's future. I think that 2018 will be the year in which some of those ideas start to turn into concrete efforts in ways that customers and shareholders can see. What does that mean? Think connected cars, electric drivetrains, self-driving vehicles, and new models of urban mobility: Ford will almost certainly have some new things to show on all of those fronts in 2018. Will 2018 be a good year for Ford investors? As of this writing, Ford hasn't yet given guidance for 2018. (It will -- sometime between now and the end of January.) A year ago, Ford warned that its pre-tax profit was likely to dip in 2017 -- but said that profit would rise in 2018 , possibly to new highs. A bar chart showing that as of January 2017, Ford expected its profits to rise in 2018 from 2017 levels. A slide from Ford's January 2017 guidance presentation. Image source: Ford Motor Company. The first part of that prediction came true, at least through the first three quarters of 2017. But Ford has been through some big changes since that guidance was issued last January, including a new CEO who may have different expectations. So what should investors expect for Ford in 2018? I think that as long as the U.S. market stays fairly strong, there's a strong chance for Ford to post a good profit for the year. But we'll have a better idea after we hear Ford's official guidance. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Ford and General Motors. The Motley Fool owns shares of and recommends Ford. The Motley Fool has a disclosure policy . View comments || FOREX-Dollar edges up ahead of Fed; Bitcoin futures seize the spotlight: * Chicago bitcoin futures launch at premium to Bitstamp
* Consensus that Fed will hike this week; ECB, BoE seen standing pat
* Sterling steadies but off post-Brexit accord highs
By Lisa Twaronite
TOKYO, Dec 11 (Reuters) - The dollar was steady in early Asian trade on Monday, underpinned by expectations of higher U.S. interest rates, while bitcoin seized the spotlight as futures of the cryptocurrency began trading.
U.S. employment data on Friday showed a bigger rise in jobs than expected in November, but the dollar's gains were capped by disappointing wage data that analysts said could weigh on the pace of interest rate hikes next year.
Bitcoin was up 1.2 percent at $14,819.05 on the Luxembourg-based Bitstamp exchange.
The first bitcoin futures began trading at 6 p.m. (2300 GMT) on CBOE Global Markets Inc's CBOE.O CBOE Futures Exchange. The futures are cash-settled contracts based on the auction price of bitcoin in U.S. dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs Cameron and Tyler Winklevoss.
The most-traded futures contract opened at $15,460, then leapt to a high of $16,660 and last stood at $15,860.The dollar index, which tracks the greenback against a basket of six major rival currencies, was steady at 93.885.
The U.S. Federal Reserve is widely expected to raise interest rates at its two-day policy meeting that will end on Wednesday, and is seen as likely to tighten two or three times in 2018. But still-sluggish inflation has clouded the policy outlook.
"There is a consensus that the Fed will hike this week, so what investors are most interested in is any clue as to what it will do next year, and the pace of interest rate increases," said Yutaka Miura, a senior technical analyst at Mizuho Securities in Tokyo.
Against its Japanese counterpart, the dollar edged up 0.1 percent to 113.56 yen, probing levels last touched in mid-November.
The Bank of England and the European Central Bank will also meet this week and are expected to hold rates steady.
The euro inched slightly lower to $1.1770 but was holding above its nearly three-week low of $1.1730 plumbed on Friday.
Sterling was up 0.1 percent at $1.3390 but well off Friday's high of $1.3521 hit as after a breakthrough in Brexit negotiations. With the UK economy still facing headwinds, market participants locked in gains.
Britain and the European Union reached an accord on Friday that paves the way for talks on future trade ties, easing immediate pressure on Prime Minister Theresa May and raising investors' hopes for an orderly Brexit.
May will hail "a new sense of optimism" in Brexit talks on Monday, telling parliament Britain and the European Union should sign off on a deal at a summit this week "to move forwards together" to discuss future trade ties.
(Reporting by Lisa Twaronite; Editing by Eric Meijer) || Matthew McConaughey's Brother: Bitcoin Is 'Like Trading Underwear': Mike “Rooster” McConaughey is not your typical investor.
I first interviewed McConaugheylast yearahead of the new season of hisShark Tank-style show, West Texas Investors Club. This year, I met him in person. During our interview, McConaughey cracked open a beer atFortune’s office and chewed on a cigar. Why? Because this no-nonsense investor believes that beer goes with business.
Rooster is the older brother of actor Matthew McConaughey, and he made his money working in the oil business in Texas. Now, he and his business partner Wayne “Butch” Gilliam have a new show,Rooster & Butch, which premieres Jan. 10 at 10 p.m ET/PT. In the debut season, the duo puts entrepreneurs through a series of trials before they decide to invest in their companies.
McConaughey and Gilliam sat down withFortuneto discuss investment strategies, due diligence, and even Bitcoin.
This Q&A has been edited for length and clarity.
FORTUNE: Rooster, you made your first million at age 30 working in the oil pipe business. Butch, you sold your machine business in 2006 for more than $120 million. Tell me about your career trajectories.
McConaughey: My dad was one of those people that got me working as soon as I could walk. I ended up in sales and got in with the oil field. I had a pretty good run, and not much longer after that, I went broke. The whole industry was completely devastated. The banks went under. So I started all over, got rid of all my nice stuff, and pecked at it until I got it back. I was always good at making money, I was never good at hanging on to it.
Gilliam:Everybody asked me how I got started, and I always say: I got started with a broom and a shovel. I started my career by sweeping up metal shavings in a machine shop. It was just a steady progression from a broom and a shovel to machines to what the business has become today.
Give me a brief description of your investment strategy.
McConaughey:We invest in people who remind us of ourselves. We’re about common sense. In the old days, you shook hands after the negotiation. These days, a handshake doesn’t mean anything. People have become so focused on the money instead of the deal. I tell you, faith in humanity will cost you some money.
What are some of the key elements you look for in a founder or company before investing?
McConaughey:We look for integrity and for someone who’s willing to hang in there. We’re not used to getting rich overnight. We don’t know anything about that. We weren’t these fat-bellied guys who had all this money at age 30. I mean, it happened for me one time but it only lasted a day or two. I was a Donald Trump millionaire for like a day and a half. It was a slow process. We don’t have any sympathy for these guys who want to get rich quick. We didn’t make our money until we were 50 years old.
Gilliam:Another thing we look for is: Does this founder have skin in the game? Do they have some of their own money invested? That’s important. When you go ask investors for money, and you haven’t sacrificed a thing, that’s not a good sign.
In the show, you talk a lot about the importance of stress testing the person rather than their idea. What are some ways you do that?
McConaughey:It’s about creating a level playing field. Think about it. When you go in to meet with someone, and they’re sitting behind a big, fancy desk, you’re instantly intimidated. They know they got the advantage. We don’t like creating that kind of environment. We like them to be on a level playing field as us. It takes a little while to get them to that point, but we want them to crack open a beer and talk to us.
Gilliam:There’s a method to our madness. We’re not just out goofing off and just being a bunch of crazy asses. We’re trying to get to know them. If you’re in a situation where you feel intimidated, you’re not going to be completely honest. We’ve made some of the best deals sitting down with a potential customer over a cold beer after a hard day’s work.
What are some red flags you encounter when you do due diligence?
Gilliam:Just about every single one of them has an over-inflated value of their company. I mean, it’s in outer space. And that’s the first thing they run up the flagpole — how much they think they’re worth. It’s usually not even grounded in reality. If you can’t get them to come back down to earth, then we’ve got a problem.
McConaughey:And they just think — equity, equity, equity. I mean, think about that. Equity is bullshit. Think twice before you give away your whole company.
What kinds of companies do you like to invest in?
Gilliam:We kind of pick them at random. The tech space is so interesting because it’s the industry we’re seeing the most of that we know the least about.
Do you have any thoughts on cryptocurrency and the blockchain?
McConaughey:Bitcoin — I can’t figure out how to get in or get out! Do you know about it?
Bitcoin is a digital currency that…
McConaughey:It’s cyber money! I haven’t researched it much, but I can’t figure it out.
Are you in?
McConaughey:No, but a guy told me to buy it when it was at $600.
Oh, it’s at about $14,000 now.
McConaughey:Well, what backs it?
Well, nothing really. It’s worth whatever someone is willing to pay for it.
McConaughey.Nothing backs it — it’s like trading underwear. Whoever cashes in first is going to have the money. If everyone’s to cash in and you don’t get to the bank too quick, you’re gonna have nothing. I mean, we’re probably wrong on this one, but I just can’t figure it out. || Why Pier 1 Stock Dove 52% in 2017: What happened Pier 1 (NYSE: PIR) stock dropped 52% last year compared to the 19% increase in the broader market, according to data provided by S&P Global Market Intelligence . ^SPX Chart ^SPX data by YCharts. The decline was steady through most of the year, with the biggest short-term drops occurring in response to the retailer's quarterly business updates. So what Pier 1's operating trends began the year weak and just deteriorated from there. Comparable-store sales were flat in the fiscal first quarter , which led incoming CEO Alasdair James and his executive team to forecast minor comps gains for the full year as they worked on their review of the company's big-picture growth strategy. A modern style living room. Image source: Getty Images. But weak customer traffic added urgency to that strategic assessment. Comps fell into negative territory in the second quarter and decreased again during the weeks leading up to the critical holiday shopping season. Now what Executives said in mid-December that demand trends "dropped considerably" during the first two weeks of the month, even as other retailers reported healthier traffic growth. In response, Pier 1 was forced to engage in deep discounting, which means profits should now come in at about $0.14 per share for the full year rather than the $0.36 per share that management had been forecasting as recently as late September. Pier 1 will announce major operating changes in the coming months that will likely speed up the retailer's transition into a more digitally focused business. Until that strategic-transformation plan is announced and the final results of the holiday season are out, investors should be cautious about buying this stock in hopes of a price rebound. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || A major bitcoin conference is no longer accepting bitcoin payments because the fees and lag have gotten so bad: miami city skyline 2009 Joe Raedle/Getty Images The North American Bitcoin conference has stopped accepting bitcoin payments for tickets due to fees and congestion associated with the cryptocurrency. Bitcoin is red-hot right now, but the demand has put the network under unprecedented stress and sent transaction fees sky-rocketing. Those issue makes it difficult to use bitcoin as a replacement for a traditional currency. For all the hype around bitcoin right now, it's easy to overlook an important fact: It doesn't actually work very well as a currency. While interest in the digital currency has exploded over the last 12 months, pushing its price up from $800 to $15,000, the network has buckled under the strain. Users face fees of upwards of $30 on every transaction , which can take hours to process. In fact, it has gotten so bad that even a major bitcoin conference has stopped accepting bitcoin payments for tickets altogether. The North American Bitcoin Conference will be held in Miami on January 18-19, with last minute tickets going for $1,000 a pop. But would-be attendees can no longer pay for a ticket in bitcoin or in any other cryptocurrencies. On its website, the event's organizers explain : "Due to network congestion and manual processing, we have closed ticket payments using Cryptocurrencies — Hopefully, next year there will be more unity in the community about scaling and global adoption becomes reality." It adds: "We have, and always will, accept cryptocurrencies for our conferences, up to fourteen days before the event. However, due to the manual inputting of data in our ticketing platforms when paid in cryptocurrencies, we decided to shut down bitcoin payments for last minute sales due to print deadlines." Speaking to Bitcoin.com, conference organizer Moe Levin confirmed that transaction costs played a part in the decision. He told the site: "We wish this was easier, but no ticketing options exist which can handle large volumes of ticket sales, and transaction fees on the Bitcoin blockchain exceed $30 at certain times of the day." Story continues Other organizations have also steered away from bitcoin due to fears over fees and price fluctuations in recent months. PC gaming marketplace Steam stopped accepting bitcoin as a payment method in December 2017 , "due to high fees and volatility in the value of Bitcoin." And Microsoft temporarily suspended payments on its online store because it is "unstable" earlier in January, though it restored the option this week . NOW WATCH: Here are the best iPhone apps of 2017 See Also: The engineer fired for his memo about women in tech is suing Google for discrimination over being white, male, and conservative Amazon and Google are about to step up their war for the future of technology Benchmark sold off $900 million of its Uber stock but wanted to sell more SEE ALSO: You can now rent a Kodak-branded bitcoin-mining rig — but you'll have to hand over half of the profits you make || How to Prepare for a Market Correction With Tips From David Bach: stocks It was big news in March 1999 when the Dow Jones Industrial Average hit 10,000 — a milestone that was once unthinkable. Earlier in 2017, the Dow blew through that mark when it reached 20,000. By mid-December, the broad stock index was closing in on above 25,000. The two other stock benchmarks — the S&P 500 and the Nasdaq Composite — have also been trading at all-time highs. However, some analysts claim this bull market might run out of steam soon and send stock prices lower. Among the financial experts who think a stock market correction could be coming is bestselling author and top money expert David Bach. “I’m a perennial bull on the market in America,” said Bach, whose books include “The Automatic Millionaire.” “With that being said, we’re almost nine years in a bull market. I’m realistic that this market is due to slow down.” He can’t predict when that slowdown will happen, but he says investors should take steps now to protect their portfolios. In an interview with GOBankingRates, Bach shared these five tips to prepare for a market correction . Don’t Get Greedy With the major stock indexes hitting record highs, you might see this as an opportunity to get rich. But now is not the time to be greedy, Bach says. “I always tell people, ‘Don’t take big bets,'” he said. For example, you might be tempted to invest in Bitcoin, the cryptocurrency that has been one of the most surprising stock market trends of 2017 . Because Bitcoin’s value has surged, you might think there’s still time to profit from it. However, because a market correction could be coming, jumping into assets such as Bitcoin could be a mistake. “You should not be loading up today and making your portfolio more aggressive,” Bach said. Don’t Try to Time the Market On the opposite end of the spectrum, you might think you should get out of stocks before a market correction and then jump back into the market at the right time. The problem with that strategy is actually picking the right time. Story continues “I’m a big believer that people who predict market corrections are fools,” Bach said. “Investing is all about decades, not days. I fundamentally believe you can’t time the market.” Sure, Warren Buffett has accurately predicted the stock market , but he’s an investing savant who still advocates holding stocks for long stretches. In other words, you shouldn’t sell all of your stocks. If you do so with the hope of limiting your losses if the market drops, you could miss out on gains if stocks continue to rise. Even if there is a correction, you might not get back in at the right time and miss out on the recovery. Keep Reading: 9 Best Short-Term Investment Options Have a Balanced Portfolio Rather than get out of the market entirely, it might be time to rebalance your portfolio to reduce your risk. “Everything is at all-time highs now — bond prices and stock prices,” Bach said. “The most important thing you can do in a market like this is be very clear how much risk you’re taking in your portfolio now.” You can lower your risk by having a balanced portfolio of both stocks and bonds. “It can be a shock absorber … like having an airbag in your car,” Bach said. Having a mix of stocks and bonds can reduce the volatility in your portfolio and make getting through a market correction less painful, he said. A typical balanced portfolio is 60 percent stocks and 40 percent bonds, Bach says. The last time there was a market correction, portfolios structured that way declined 26 percent and took 19 months to recover. If you’re not comfortable picking investments on your own, Bach recommends opting for target date mutual funds. These funds are run by portfolio managers who rebalance them over time to make them more conservative with more fixed-income investments and fewer stocks as they reach a target date — typically your anticipated retirement date. Find Out: What You Need to Know to Invest in Mutual Funds Educate Yourself Educating yourself about market corrections lets you avoid panicking and making investment decisions based on fear when the stocks drop . “The more you understand how a market correction works, the better prepared you are,” Bach said. For starters, it’s important to put the next market correction into perspective, he says. If stocks fall in 2018, keep in mind that they’re falling from an all-time high. “Even if the market corrected now 25 percent, we’d be back to where we were when Trump got elected,” Bach said. Typically, a market correction is defined as a drop of 10 percent or more for an index, stock or bond from its recent high. Corrections are common. There were 22 in U.S. markets between 1946 and 2015, according to Prudential Investments. The average decline was 14 percent. Most corrections take less than 110 days to recover, Bach says. In his book “Smart Couples Finish Rich,” which is being re-released in January 2018, Bach writes that if you had invested $100,000 in the S&P 500 from Dec. 31, 1996, to Dec. 31, 2016, your investment would have grown to $439,334. But if you got out at some point because you were afraid of a market correction and missed the market’s 10 best days, your investment would have grown only to $219,112. If you had missed the 50 best days, you would’ve lost money and seen your investment shrink to $42,750. Have a Cash Cushion Don’t put all of your money in the stock or bond markets, especially if there’s a market downturn. It’s important to have cash savings for short-term goals or an emergency fund, Bach says. He recommends building an emergency fund that’s big enough to cover six months’ to a year’s worth of expenses. “Having that cushion can help you ride through a correction,” Bach said. Up Next: Wealth Building Strategies From the ‘Unshakeable’ Tony Robbins That Anyone Can Use This article originally appeared on GOBankingRates.com : How to Prepare for a Market Correction With Tips From David Bach || Wells Fargo: 27 Stocks To Play Real Estate In 2018: With recovery in retail and favorable legislative circumstances, Wells Fargo expects real estate investment trusts to generate 4.5- to 5-percent returns to matchnext year’ssingle-digit returns in the S&P 500.
The trend is seen to drive 27winnersacross real estate and other exposed industries.
The Rating
• Wells Fargo analystJeffrey Donnellyrecommends the following stocks by subsector:
• Regional malls:Macerich Co(NYSE:MAC);
• Net lease:Realty Income Corp(NYSE:O),National Retail Properties, Inc.(NYSE:NNN) andAgree Realty Corporation(NYSE:ADC);
• Manufactured housing:Sun Communities Inc(NYSE:SUI) andEquity Lifestyle Properties, Inc.(NYSE:ELS);
• Single-family home:Invitation Homes Inc(NYSE:INVH);
• Outdoor:Outfront Media Inc(NYSE:OUT);
• Data centers:Equinix, Inc.(NASDAQ:EQIX) andCyrusOne Inc(NASDAQ:CONE);
• Towers:Crown Castle International Corp. (REIT)(NYSE:CCI);
• Multifamily:Apartment Investment and Management Co(NYSE:AIV);
• Shopping centers:Brixmor Property Group Inc(NYSE:BRX),Federal Realty Investment Trust(NYSE:FRT) andRegency Centers Corp(NYSE:REG);
• Lodging:Host Hotels and Resorts Inc(NYSE:HST),Ryman Hospitality Properties, Inc. (REIT)(NYSE:RHP) andHyatt Hotels Corporation(NYSE:H);
• Self-storage:Extra Space Storage, Inc.(NYSE:EXR) andNational Storage Affiliates Trust(NYSE:NSA);
• Office:Paramount Group Inc(NYSE:PGRE) andKilroy Realty Corp(NYSE:KRC);
• Industrial:DCT Industrial Trust Inc(NYSE:DCT) andLiberty Property Trust(NYSE:LPT);
• Health care:Healthcare Trust Of America Inc(NYSE:HTA),Healthcare Realty Trust Inc(NYSE:HR) andCareTrust REIT Inc(NASDAQ:CTRE).
The Thesis
REITs could benefit from tax bills if Congress lowers ordinary dividends from 39.6 percent to between 25 to 29.5 percent, Donnelly said. (See the analyst's track recordhere.)
But such gains could be offset by modest declines in commercial property values driven by a rise in capitalization rates, he said.
“Subsector performance should remain ‘choppy’ with sectors likely swapping positions several times throughout the year depending on confidence in the U.S. outlook, economic policy and interest rate picture,” the analyst said. “Accordingly, we expect stock selection will trump sector selection in 2018.”
Wells Fargo upgraded both regional malls and net lease subsectors to Overweight as retail recovers, store closures slow and mall mergers play out. Multifamily housing and shopping centers were downgraded to Market Weight in anticipation of comps deceleration in both and big-box store reduction in the latter.
Wells Fargo maintained Overweight ratings on five real estate subsectors, Market Weight ratings on two and Underweight ratings on three.
Price Action
iShares US Real Estate ETF(NYSE:IYR) closed down 2 percent Tuesday at a rate of $80.45.
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© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Oil Price Fundamental Daily Forecast – Prices Could Break as Iran Unrest is not Likely to Impact Supply: U.S. West Texas Intermediate and international-benchmark Brent crude oil futures settled lower on Tuesday after buyers backed away from an early session surge fueled by a reaction to anti-government protests in Iran.
On Tuesday,February WTI crude oilsettled at $60.37, down $0.05 or -0.08% andMarch Brent crude oilfinished at $66.57, down $0.30 or -0.45%.
Prices dipped into the close on the news that the major pipelines in Libya and the U.K. restarted. The 450,000 barrel per day (bpd) capacity Forties pipeline system in the North Sea returned to full operations on December 30 after an unplanned shutdown. Repairs were also completed on a Libyan oil pipeline which was damaged in a suspected terrorist attack last week.
Volume is low and the range is tight early Wednesday, leading to a mixed trading session. At 0705 GMT, February WTI crude oil is trading $60.38, up $0.01 or +0.01% and March Brent crude oil is at $66.56, down $0.01 or -0.02%.
Oil prices are stable, but still within striking distance of their mid-2015 highs reached on Tuesday. The market remains underpinned by strong demand and optimism over the ongoing efforts by OPEC and Russia to curb output, trim the global supply and stabilize prices. Pressure, however, could come from rising U.S. production and doubts about whether demand growth can continue at current levels.
With the pipeline issues in the North Sea and Libya resolved and the protests in Iran showing no signs of impacting its oil production, prices could slide this week especially if this week’s U.S. government reports show another rise in production.
U.S. oil production has risen by almost 16 percent since mid-2016, hitting 9.75 million bpd at the end of last year. It seems like it’s just a matter of time before U.S. production hits 10 million bpd.
WTI prices could retreat to the former tops at $58.99 to $58.60 now that the Libyan pipeline explosion and the Forties pipeline outage are history.
Brent crude oil posted a higher-high, lower-close on Tuesday. If the selling pressure continues then look for a possible break back to its former top at $64.92.
On Thursday, the U.S. Energy Information Administration’s weekly inventories report is expected to show a draw of about 5.2 million barrels.
Thisarticlewas originally posted on FX Empire
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LONDON/NEW YORK (Reuters) - Bitcoin rocketed to a lifetime high just shy of $16,000 on Thursday after climbing some 60 percent over one week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.
The largest U.S. cryptocurrency exchange struggled to keep up with record traffic as the price surged, with an upcoming launch of the first bitcoin futures contract further fueling investor interest.
Proponents say bitcoin is a good medium of exchange and a way to store value, much like a precious metal. They also argue it is preferable to traditional currencies because it is not subject to central bank manipulation.
The supply of bitcoin will eventually be capped at 21 million, and some 16.7 million have already been released.
But critics say that the price run-up is a bubble that has been driven mostly by speculation, leaving bitcoin vulnerable to a sharp reversal. JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon famously called bitcoin a fraud in September.
"Bitcoin remains a major gamble as it is very much an asset that remains in uncharted waters, we've simply not experienced this before," said Nigel Green, founder and chief executive of deVere Group.
"Also, an asset that goes almost vertically up should typically raise alarm bells for investors," he added.
The world's biggest cryptocurrency has surged fifteen-fold in value so far this year.
The latest move brought its so-called market cap, its price multiplied by the number of bitcoins in circulation, to nearly $280 billion, according to Coinmarketcap, a trade website. By comparison, the market value of Wal-Mart Stores Inc (WMT.N) is around $288 billion.
Analysts said the launch slated for this weekend of bitcoin futures by Cboe Global Markets Inc's (CBOE.O) Cboe Futures Exchange, one of the world's biggest derivatives exchanges, was helping drive up the price on expectations it would draw more investors to the market.
The CME Group will launch bitcoin futures one week later, while Nasdaq Inc (NDAQ.O) plans to get into the mix next year.
It is not clear to what extent big U.S. banks will participate in the new bitcoin-related activity.
Goldman Sachs Group Inc (GS.N) will clear bitcoin futures for certain clients when they go live, a spokeswoman said on Thursday.
The bank is "evaluating the specifications and risk attributes for the bitcoin futures contracts as part of our standard due diligence process," spokeswoman Tiffany Galvin said.
Bitcoin climbed as high as $15,995 on the Luxembourg-based Bitstamp exchange (BTC=BTSP), up more than 14 percent on the day. It was last at $15,791.51.
Coinbase, the largest U.S. platform for buying and selling cryptocurrencies, said on Thursday on Twitter that it had experienced an outage due to record traffic. The venue was last up and running.
Some investors said they still see scope for bitcoin to soar even higher.
"It will hit potentially $20,000 because so much capital is coming in and it's the most liquid secure coin out there," said David Drake, founder and chairman of DLJ Capital, a family office in New York.
Other trading venues showed different prices for bitcoin, which trades in more than 100 cryptocurrency exchanges that are not accountable to any central authority. For instance, at institutional trading platform GDAX, bitcoin topped $19,000, while it hit above $16,000 at itBit.
Those price discrepancies could add another level of speculation by introducing the prospect of arbitrage trades between the markets.
For graphic on bitcoin prices:http://tmsnrt.rs/2AHKJPdhttp://tmsnrt.rs/2AHKJPdhttp://tmsnrt.rs/2AHKJPd
STOKING VOLATILITY
Some warned that the launch of bitcoin futures, which will allow investors to take speculative short positions to bet against the cryptoccurrency, as well as long positions, could spark further volatility.
And while Cboe, CME and Nasdaq offer strictly policed trading environments, the underlying bitcoin market is riddled with exchanges lacking even basic oversight.
The Futures Industry Association, representing some of the world's largest brokers, sent a letter on Thursday to the U.S. Commodity Futures Trading Commission saying that more safeguards are needed to protect against bitcoin's high volatility and the risk of manipulation in the spot market.
"Aggressive traders, such as hedge funds and algorithm-driven funds, (will be able) to use this futures market to enter bitcoin trading with high levels of liquidity for aggressive short-selling and knock the prices really low," said Think Markets analyst Naeem Aslam.
"Players now have an incentive to be on the short side and make profits hedging against the upside."
Concerns about cybersecurity could also take the shine off of bitcoin.
Slovenian cryptocurrency mining marketplace NiceHash, which matches people looking to sell processing time on computers in exchange for bitcoin, said on Thursday it had lost about $64 million worth of bitcoin in a hack of its payment system.
Bitcoin slumped in 2014 when MtGox, then the world's biggest bitcoin exchange, collapsed after saying it had been hacked and had 650,000 bitcoins stolen.
The value of all cryptocurrencies now stands at nearly $430 billion, according to Coinmarketcap.
Bitcoin has more than tripled in price since the start of October, putting it on track for its best quarter since the end of 2013, when it surged above $1,000 for the first time.
(Reporting by Gertrude Chavez-Dreyfuss in New York and Jemima Kelly in London; Editing by Abhinav Ramnarayan and Meredith Mazzilli) || Litecoin Faces Key Hurdle in Push Back to Record Highs: Price chart analysis suggests litecoin could soon revisit record highs.
If so, the development would mark a reversal from last week, when the world's fifth largest cryptocurrency reached new heights at $341.80, only to lose ground tobull market exhaustion.
However, most notably, the subsequent dip to $251.22 on Dec. 15 low is now proving short-lived.
As of Monday, LTC is trading back above $300, averaging $320 across global exchanges. As perCoinMarketCap, it has appreciated by 0.4 percent on the day, but the sharp recovery only underscores the market's strong "buy the dip" mentality.
And with the hugebitcoin (BTC) bull runshowing some signs of fatigue near the $20,000 mark, investors could once again turn their attention towards litecoin and other alternative currencies.
Theinvestor communityalso appears to expect LTC to re-test record highs soon, hinting that its already meteoric annual gains could be extended from its already staggering 7,000 percent.
The abovechart(prices as per Coinbase) shows:
• A series of higher lows as represented by the ascending trendline (blue line).
• Rounding bottom along the ascending trend line support.
• The 50-MA is curled up in favor of the bulls.
The above listed technical factors are aligned in favor of the bulls. Still, the job is only half done as prices need to break above the resistance offered by the bear flag pattern (essentially an upside down version or the inverted version of the bull flag).
It is a bearish continuation pattern, i.e. a downside break (close below $317) would signal a continuation of the sell-off from the high of $420. Still, in the short-term, the dips below $270 could be transient, courtesy of the upward sloping 10-day MA.
Only a break above $345 (flag resistance) would add credence to higher lows, rounding bottom pattern and shall open doors for $420 levels (record highs).
Litecoin imagevia Shutterstock
• Ripple Price Passes Historic $1 Milestone
• Waiting Game: Bitcoin Cash at Record High Ahead of Coinbase Relaunch
• Litecoin Creator Sells Stake Citing 'Conflict of Interest'
• Coinbase to Probe for Breach in Bitcoin Cash Listing
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin $BTC on Coinspot currently $AU21950 ($AU21950 buy / $AU21003 sell). Bitcoin has moved -3.07%, high $AU23937.00 / low $AU20779.07 #spon http://zpr.io/nqTum || Tiffany Haddishちゃんが || "Farhad and Mike’s Week in Tech: The Big Bitcoin Boom" by FARHAD MANJOO and MIKE ISAAC via NYT http://ift.tt/2y8ggE1 pic.twitter.com/7xhouYCuft || Bitcoin Sportsbook pre-live betting odds (VEN-FINAL) Deportivo Lara vs AC Mineros: 0-0 - Kick Off Play now via ► http://betbitcoin.pro || Tiffany Haddishちゃんが || こんばんは。 bitcoin priceという || Dimensions Network recognizes the problems at trading crypto and launches a trading platform that has to combine the advantages of the centralized and decentralized world. #dimensionsnetwork .@DN_STC http://ico-blog.com/dimensions-network-launches-hybrid-trading-platform/ … … || Im pretty sure @krakenfx got a bot running their books....Cant place a bit, order, nothing for 2 days now.....Can anyone? #btc || #Earn #Free #Bitcoin in a second. No need to sign up, simply enter your bitcoin address #bitter https://buff.ly/2km8Mfe || こんばんは。 bitcoin priceという
|
Trend: down || Prices: 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-05-04]
BTC Price: 1537.67, BTC RSI: 86.81
Gold Price: 1226.50, Gold RSI: 33.15
Oil Price: 45.52, Oil RSI: 25.20
[Random Sample of News (last 60 days)]
FIRST BITCOIN CAPITAL Corp. Subsidiary COINQX.com is First Exchange to Offer Futures Trading in XBU: VANCOUVER, BC / ACCESSWIRE / March 21, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF) - CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (BITCF or the "Company"), and history's first publicly trading bitcoin business, is pleased to announce the launching of BITCOIN UNLIMITED FUTURES now trading under the symbol XBU.
Other Bitcoin exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin symbol BTC and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU. Unlike Bitcoin, Ethereum emerged from its hard fork with the original coin renamed Ethereum Classic and their newly forked coin retaining the name of the original.
Many Bitcoin traders are anxious to begin trading in BTU. As a way to capitalize on this anxiety, and allow a mechanism to predict the BTU's future value, CONQX issued on the Bitcoin Blockchain 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbol XBU. When/if BTU comes into existence, it will not be convertible or equal to XBU, however, once both BTU and XBU are trading on COINQX, they will be exchangeable by willing participants based on customers bids and asks matching.
After the hardfork is complete, XBU will continue to trade with the intention for it to survive as a third option to Bitcoin and Bitcoin Unlimited. Those currently owning BTC on CoinQx are not required to do anything regarding the upcoming hardfork, as the hardfork should only affect miners, so that owners of BTC should ultimately find the additional Bitcoin Unlimited coin in their account equal to the amount owned during the hardfork, barring any unforeseen complications.
First Bitcoin foresees the split of BTC into two coins to be not unlike that of a spin-off of a subsidiary from a public company. Owning BTC before, during, and after the split will help to ensure receipt of the additional forked coin. Whereas FINRA sets record dates and ex dividend dates for such events, no authority or procedures exists to assist owners of BTC to know when to buy, hold, and sell their coins. In this regard, the Company is planning to launch a numbering system for cryptocurrencies similar to CUSIP, as well as establishing an SRO to help the emerging industry deal with such issues.
First Bitcoin director, Patrick Dugan, commented on the pending fork, "Most likely Bitcoin Unlimited ( BU) would serve as a check to force market demands to come to the fore in Bitcoin Core, or conversely, BU could adapt Segwit. As someone who provides financial services and depends on the throughput of the Bitcoin blockchain for operations, I can say that more ruckus is preferable to the status quo."
While this newly issued coin is not directly related to the original Bitcoin or its pending hardfork, it is indirectly related by the fact that it was issued on the Bitcoin Blockchain similar to Tether, symbol USDT. As a consequence, XBU is already exchangeable on the DEX against other similar currencies, such as $USDT, $BTC, $PRES, $TESLA, $GARY, $BURN, $HILL, and $MAID viahttp://omnichest.info/mdexmarket.aspx?market=1, and will soon be tradeable against additional currencies atwww.coinqx.com.
About the Company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange -www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges), we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time, the Company owns and operates the following digital assets:
• www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
• www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
• www.BITminer.ccproviding mining pool management services.
• www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
• www.bitcannpay.comOpen Loop merchant services for dispensaries.
A list of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company can be accessed here:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com.
SOURCE: First Bitcoin Capital Corp. || Why Silver and Gold Look Shiny to Investors Right Now: With so much going on in the world these days, it's easy to overlook the developments in the precious metal markets. Even as governments continue to devalue currencies, central banks across the globe have been accumulating gold . I think investors should start considering a small allocation in precious metals as well. SEE ALSO: Should I Be Tempted to Invest in Bitcoin? I realize that probably doesn't sit well with many other advisers, who regard gold and silver as nothing more than shiny metal that sits in a vault, collecting dust and earning no interest or dividends. But investors, in general, need to protect themselves from these currency devaluations, which will likely lead to inflation in the future. Even if we are currently in a deflationary environment, central banks continue to pursue inflation. I think they will, at some point be successful in achieving this goal. As such, a small allocation to precious metals could protect the purchasing power of your savings and insure your overall wealth. How much you should invest in precious metals, of course, depends on your portfolio and other factors. A good baseline for any investor interested in maintaining a small allocation in precious metals would be to keep a 10-to-1 ratio in mind. For these investors, every $10 you have in bonds or annuities should be matched by $1 invested in precious metals. In the current global economic environment, precious metals look like a good short term-investment. Simply put, precious metals may be a good hedge for investors facing the myriad problems associated with the present economic environment, especially currency devaluation. A diversified portfolio of tangible assets such as gold or silver should equal about 5% (and sometimes more) of an investor's portfolio. That's a prudent asset-diversification strategy at any time. And in today's uncertain political and economic environment, there are many (and very sound) reasons to consider investing in precious metals to diversify your holdings. Story continues Keep in mind, precious metals are not like other asset allocations. For example, putting money in precious metals is very different than investing in the stock market. Even the word "investment" seems a bit out of place here. Gold doesn't pay dividends; gold doesn't pay interest. It's a metal that has historically been used as money. Throughout the world, gold continues to be recognized as money. As such, it offers long-term protection as our currency is devalued for investors looking to be able to maintain their lifestyles 10 to 15 years down the road. I think silver is an even better option than gold for investors looking to diversify. Right now, the silver-to-gold price ratio is fairly high. Historically, that ratio has been 16-to-1; meaning 16 ounces of silver are valued the same as 1 ounce of gold. Right now, the ratio is far higher: 65 to 70 ounces of silver have the same dollar value as every ounce of gold. If history repeats itself, we should see that 16-to-1 ratio of silver to gold return in the near future. As such, I see far more upside with silver than I do with gold. Allocating a portion of your assets in silver, at current prices, could offer investors and retirees one of the single best long-term investments available today. Along with gold, it is recognized as a store of value. What is not so well known is that, while gold has demonstrated a solid trend of price appreciation since 2001, more than quintupling in price, the price of silver has in the past outperformed gold. Precious metals have been a safe haven in times of war, political strife and uncertainty. With the potential for rising inflation and the continued devaluation of paper currency as likely possibilities, I think it's a good time to consider precious metals for your retirement portfolio. The safest way to do that may be to own the metal outright. You can also consider gold and silver mining company's such as Goldcorp (GG) , Barrick Gold (ABX) and Newmont Mining (NEM) to name a few. For silver, consider First Majestic (AG) , Silver Wheaton Corp. (SLW) and Pan American Silver Corp. (PAAS) . See Also: 3 Stocks That Will Benefit From an Aging America Kevin Derby contributed to this article. Investment Advisory Services offered through Brookstone Capital Management LLC an SEC Registered Investment Adviser. EDITOR'S PICKS My Top 10 DRIP Picks for Investors in 2017 A Watched Portfolio Never Performs A Will Can Be a Beautiful Thing Copyright 2017 The Kiplinger Washington Editors || Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it.
Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins.
This arrangement has some stunning advantages over traditional currency or credit cards:
• Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software.
• When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees.
• All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer.
There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation.
For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority.
Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes.
This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be.
So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078.
When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash.
At that point, you can transfer money to other people by sending it to their Bitcoin addresses.
You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way.
The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today.
The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times.
So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals.
But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them.
Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember?
In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership.
More from David Pogue:
The Fitbit Alta HR band is the least dorky fitness band you can buy
David Pogue’s search for the world’s best air-travel app
David Pogue tested 47 pill-reminder apps to find the best one
The little-known iPhone feature that lets blind people see with their fingers
I paid $3,000 for my MacBook Pro and got emotional whiplash
Here’s the real money-maker for the Internet of Things
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || U.S. regulators to review decision denying Bitcoin ETF: filing: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday. A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency's staff ruled against them in March. 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. A fund holding the currency could bring more professional investors to the asset and push its price higher. 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. Bitcoin (BTC=BTSP) traded up 1.7 percent at $1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC's initial decision calling the digital currency market "unregulated." CBOE Holdings Inc's (CBOE.O) Bats exchange had applied to list the ETF and appealed to the commission to review its staff's decision. The exchange did not immediately respond to a request for comment. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and Diane Craft) || UNBOXED: David Pogue gets a first look at the Samsung Galaxy 8: Yes, kids, it’s that time of year again: Another Samsung Galaxy phone is here! And it’s mostly phenomenal.
Starting at $726—that’s $77more than the equivalent iPhone 7—you get a waterproof, fast, rugged, gorgeous, expandable smartphone that packs a huge screen into a relatively small body. How? By filling the entire front, nearly edge to edge, with screen. No margins.
That also means no physical Home button. The Home button is now apictureon the screen. Works fine, except that where will the fingerprint reader go?
Samsung has opted to put it on the back of the phone—unfortunately, right next to the camera lens. Every time you try to unlock the phone with your finger, you’ll get finger grease on the lens. Oopsie!
The other bad news is Samsung’s philosophy of “there’s no such thing as too much.” The phone is laden with bloatware, including Samsung’s own, pointless duplicates of Android’s browser, photo manager, and so on. And there are, believe it or not, 55 setup steps before you can start using the phone.
That’s out of control.
You should also know that one of the mostdelicious new features of the S8isn’t yet activated: Bixby. That’s Samsung’s smarter version of Siri or Google Now. Once it’s turned on, Samsung says, when you press the dedicated Bixby button on the left edge of the phone, you’ll be able to say, “Email this photo to my mom,” for example, or “Put on my Party playlist and call me an Uber home.” (It will work with only 10 apps at the outset.)
But never mind all that: As long as you don’t mind its new tall, skinny shape (and the letterbox bars that therefore appear when you’re watching videos), you will adore this phone. The camera (basically the same one as on last year’s S7) is terrific. It now come with coolfeatures like Bixby Vision, which recognizes products by their packaging and offers to let you buy them; recognizes famous buildings and gives you information about them; and recognizes text in other languages and tries to translate them.
The phone also charges super fast—basically, 1 minute per percent. 30 minutes, 30%. A “wireless” charging stand is also available.
And you can log in with either a fingerprint, face recognition (people say you can fool it with a photo, but I wasn’t able to), or iris recognition (fails in bright sunlight).
And no, the Galaxy S8 won’t explode on you, like last year’s Note 7 fireball. The battery in the S8 is, alas, smaller than last year’s just for that reason; it will just get you through a day.
In other words, the new Galaxy is hot only in the sense of “lots of people will want it.”
For more,here’s Dan Howley’s full review.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
Inside the World’s Greatest Scavenger Hunt, Part 3
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Now I Get It: Bitcoin: Man, if anything needs the “now I get it” treatment, it’sBitcoin. You hear about it all the time infinancial and technical circles—but most people really don’t grasp it.
Bitcoin is an alternative kind of currency. It’s entirely digital—there’s no paper money, there’s no coins, nothing physical, not even a plastic card for your wallet. Your bitcoins are stored on your computer or your phone. If your hard drive crashes without a backup, you lose your bitcoins.
This arrangement has some stunning advantages over traditional currency or credit cards:
• Between buyer and seller, there’s no bank or credit-card company involved, no middleman who can charge fees. The entire Bitcoin banking system is a global peer-to-peer network, running Bitcoin software.
• When you buy something from someone in another country, there’s no waiting to convert currencies—and again, no fees.
• All transactions areessentiallyanonymous, which is super convenient if you’re a drug dealer or arms dealer.
There’s a whole lot of really cool, really complicated math involved in Bitcoin, designed to keep it secure and to prevent Bitcoin inflation.
For example: the complete record of all Bitcoin transactions—a massive digital ledger called theblockchain—is stored on all Bitcoin users’ computers, rather than being held by a central authority.
Bitcoin was born in 2009, the proposal of an anonymously written white paper. There’s no government to decide when to print new money in this case, so new bitcoins are “mined”—created—through a complex scheme you can read abouthere. In essence, anyone can create new bitcoins, but don’t think you’ll get rich that way. The job requires massive, expensive, high-horsepower computers that must slog through gigantic calculations to “mine” new money. The complexity of the math involved is adjusted so that it’s just barely profitable to mine bitcoins, and so that only a few bitcoins come into existence every 10 minutes.
This production will stop when there are 21 million bitcoins on earth, which is supposed tohappen around 2140. After that—that’s all the bitcoins there’ll ever be.
So how do you get bitcoins? Same way you get euros or yen or pesos: You buy it with traditional currency like dollars. You can use online exchanges likeBitstampandCoinbase. At this writing, one bitcoin costs about $1,078.
When you get a Bitcoin address—something like an email address—you also get a complex password known as a private key, which you need to access your stash.
At that point, you can transfer money to other people by sending it to their Bitcoin addresses.
You can also pay for goods and services at some merchants, like Subway and Xbox; they’re delighted when that happens, because they don’t lose 3% of the transaction in credit-card fees. But in the big picture,the list of places that accept Bitcoinis fairly small. Andyoudon’t get any particular benefit by paying for something this way.
The good news is that since Bitcoin’s creation eight years ago, its value has gone up by quite a bit—from well under a penny to over $1,000 per bitcoin today.
The bad news is that its value is incredibly volatile. Remember this past January,when it dropped by a fifthin a day? Good times.
So: Bitcoin is fascinating, but it’s not very useful, at least not to most people. Some people love it, for sure, like investors with a taste for risk, tech-savvy early adopters, technically-minded libertarians, and criminals.
But keep in mind that there are lots of exciting ways to lose all your bitcoins. Like if your hard drive crashes without a backup, and you lose your private key. Or if you get a Bitcoin virus, of whichthere are now many. Or if your Bitcoin exchange goes out of business, which has happened plenty; in fact,18 of the first 40 exchanges had gone underas of 2013, taking all their clients’ money with them.
Remember, this whole thing is largely unregulated. If you buy something with a credit card and you get ripped off, you can call an 800 number and the credit-card company will get your money back. But if you get ripped off with a Bitcoin transaction … sorry! You voted for no middleman, remember?
In the meantime, for most people, Bitcoin is a fascinating development that’s a worthy topic of study—just not for ownership.
More from David Pogue:
The Fitbit Alta HR band is the least dorky fitness band you can buy
David Pogue’s search for the world’s best air-travel app
David Pogue tested 47 pill-reminder apps to find the best one
The little-known iPhone feature that lets blind people see with their fingers
I paid $3,000 for my MacBook Pro and got emotional whiplash
Here’s the real money-maker for the Internet of Things
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Bitcoin dives after the SEC shoots down plans for another bitcoin ETF: (Attendants pose with a bitcoin sign during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip)
Bitcoin has slid into negative territory after the US Securities and Exchange Commission rejected the plans for the SolidX Bitcoin ETF.The cryptocurrency is down 0.7% at $1,033 a coin. It was as high as $1,066 earlier on Tuesday.
The regulator cited the fact that bitcoin is traded on unregulated markets, which means the SEC wouldn't be able to prevent fraud or market manipulation.In its ruling theSEC said:
"As discussed further below, the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest. The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.
Tuesday's announcement follows a similar ruling that was reached on March 10, when the SEC said it had rejected the Winklevoss twins' bitcoin ETF.
2017 has been a volatile year for bitcoin.
The cryptocurrency gained 20% in the first week of the year, but soon crashed 35% after reports surfaced that China was going to crack down on trading. First,China's biggest exchanges started charging a flat fee of 0.2% per transaction, then they announced they wereblocking customer withdrawals.
But bitcoin continued to climb higher, putting in a peak of $1,327 a coin shortly before the SEC rejected the Winklevoss ETF.
Since then, however, bitcoin has tumbled more than 20% following reports developers were threatening a "hard fork" that would split the currency in two.
Bitcoin has been the top-performing currency every year since 2010, aside from 2014.
A third SEC ruling on a bitcoin ETF, by Grayscale Investments, is also expected to be rejected; although the timing of a final decision is not yet known.
(Investing.com)
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• Bitcoin tanks below $1,000
• Bitcoin spikes above $1,000
• Bitcoin tumbles below $1,000 || Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency: Bitcoin (Exchange: BTC=-USS) is up nearly $100 in the past week, hitting levels not seen since mid-March after Japan legalized the cryptocurrency as a payment method and Russia is seeking to regulate it too. The digital currency was trading at around $1,223.04 at the time of publication, up from highs of $1,124.88 on April 5, and hitting prices not seen since March 16, according to Coindesk data. Bitcoin's market capitalization has risen from $18.34 billion on April 5, to $19.5 billion on Wednesday, according to Coinmarketcap.com data. Bitcoin has suffered a recent dip in price thanks to a debate over the future of its underlying technology , but the recent support appears to have come from Japan. Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law. Consumer electronics retailing giant Bic Camera began accepting bitcoin last week. Bitcoin trading in Japanese yen is the second-most liquid market globally, according to data compiled by cryptocurrency trading platform Gatecoin. "The Japan virtual currency act has likely had a major impact, as there has been a lot of buzz in Japanese media over the ruling over the last few months," Aurélien Menant, founder and CEO of Gatecoin, told CNBC by email. At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency. Russian Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview this week that the authorities hope to recognize bitcoin and other cryptocurrencies as a legal financial instrument in 2018 in a bid to tackle money laundering. "The state needs to know who at every moment of time stands on both sides of the financial chain," Moiseev told Bloomberg. "If there's a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations." Increasing state regulation around bitcoin could make the cryptocurrency an attractive investment for investors who previously shied away from it due to the high risk and price swings. More From CNBC Adyen, the firm that processes payments for Uber, Netflix, saw 2016 revenues rise 99% Indias mobile market is seeing a huge shift but Apple might not benefit for a while Another Apple supplier tanks amid fears it could lose its key contract || Venezuela is cracking down on 'bitcoin fever': Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016. REUTERS/Carlos Garcia Rawlins (Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016.Thomson Reuters) Venezuela's economy has seen its currency, the bolivar, plummet as inflation has spiraled into the triple digits , causing people there to struggle to meet their daily needs. In response, some Venezuelans have chosen to cross international borders to stock up on needed supplies, as others turn to a black market where goods are often sold in US dollars. Another alternative that has gained traction is bitcoin, a cryptocurrency whose value wobbles frequently and which can be used for clandestine purchases, both licit and illicit. Bitcoin has been embraced in Venezuela as the economy has faltered over the last few years, providing both a way of buying essential goods and resisting the unpopular government of President Nicolas Maduro. The number of users has surged from 450 in 2014 to 85,000 in 2016, according to Venezuelan bitcoin trading exchange Surbitcoin. "Bitcoin is a way of rebelling against the system," Caracas-based software developer John Villar told Reuters in October 2014, not long after he started using the cryptocurrency for online purchases. Bitcoin had dropped 70% between November 2013 and October 2014, but Venezuela's own currency had dropped 60% against the US dollar on the black market in the country over roughly the same period. "Even though bitcoin is volatile, it's still safer than the national currency," Kevin Charles, then a recent economics graduate, told Reuters . (Many Venezuelans still converted their bitcoin immediately into dollars, however.) "In Venezuela, we have a gold fever: a bitcoin fever!" a bitcoin miner someone who uses a complex computer setup to create bitcoins using elaborate algorithms said to Reuters in October 2014. Venezuela bitcoin cryptocurrency currency bolivar money Surbitcoin (The website of bitcoin trading exchange SurBitcoin on a computer in Caracas, October 5, 2014.REUTERS/Stringer) Now the Venezuelan government, long caught up in battles with the political opposition and in bloody struggles with rampant crime , has turned its attention to bitcoin users and producers. Story continues A recent post on a related subreddit by someone claiming to be a Venezuelan bitcoin miner, cited by The Washington Post , said the government was jailing miners and accusing them of terrorism, money laundering, and computer crimes. Two brothers in Caracas, who spoke to The Post anonymously, said police had raided their home in November, demanding $1,000 bribes for each of their more than 90 mining terminals. They paid up, they said. Despite its other turmoil, Venezuela, which has no laws against bitcoin, had been amenable to bitcoin miners, for whom electricity can be their biggest expense. Electricity is heavily subsidized in the Caribbean nation, where the longstanding socialist government has provided many services and goods to the population at low cost. (Those subsidies have also inspired profligate use by residents.) Caracas Venezuela blackout (Buildings left unlit during a partial blackout in Caracas, January 13, 2010.Reuters) The intense power demands of mining terminals may be the undoing of some miners, however. State power authorities can reportedly detect outsize power usage , and some miners who have been arrested were charged with electricity theft. The chief of the federal police agency said recently that bitcoin miners were imperiling the electrical service in a town south of Caracas, which is not implausible, considering that the country's electrical service, plagued by underinvestment and graft, has often been overwhelmed in times of high demand . (Thieves have also started pilfering electrical and communications gear for valuable components.) Despite enthusiasm for bitcoin in Venezuela, its spread may be hindered by the seemingly wide net of the authorities' crackdown and by the one-third of Venezuelans who don't have bank accounts. NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider In the world's biggest cocaine producer, cultivation reportedly surged again in 2016 Italy and Mexico tracked down a fugitive mafia leader using his Facebook posts Ecuador's presidential election could have big consequences for the fate of Wikileaks Julian Assange || Bitcoin super spikes to an all-time high: Bitcoinexploded to an all-time high on Friday morning. The cryptocurrency surged more than $120 to a record high of $1,327 a coin shortly before 8:30 a.m. ET. While bitcoin has pulled back from its record peak, it remains firmly bid, up 8.3%, or $99, at $1,291.
Friday's gains come ahead of the highly anticipated US Securities and Exchange Commission ruling on whether or not it will approveat least one of thethree proposed bitcoin-focused exchange-traded fundsby a March 11 deadline. Because that deadline falls on a Saturday, a decision may not be announced until Monday, March 13.
Bitcoin has had a volatile start to 2017. It gained more than 20% in the opening week of the year before crashing 35% on rumblings China would begin to crack down on trading. But the cryptocurrency has been able to shrug off news that China's biggest exchanges started to charge a flat fee of 0.2% per transaction in addition to themblocking customer withdrawals.
Bitcoin gained 120% in 2016 and has been the top performing currency in each of the past two years.
(Investing.com)
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• Bitcoin makes a big comeback
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• Bitcoin plunges sharply and suddenly
[Random Sample of Social Media Buzz (last 60 days)]
Courtesy of @MoosePicks_ Live #Bitcoin Price is $1233.00 @Chain Get Ready To Pick #btc Price at http://tinyurl.com/betmoose || BTC/NGN:
LB - ₦516,300.00
BitSSA - ₦540,000.00
Luno - ₦540,552.00
Average - ₦532,284.00 || Bet on #Soccer Get a 5 Bitcoin Bonus! $BTC
Play now via → http://sportsbookbtc.pro pic.twitter.com/2YrL8zFbsU || 1 #BTC (#Bitcoin) quotes:
$1253.05/$1254.99 #Bitstamp
$1233.00/$1233.42 #BTCe
⇢$-21.99/$-19.63
$1248.72/$1261.28 #Coinbase
⇢$-6.27/$8.23 || Try thedon at https://BitBargain.co.uk/buy/request/5918?r=bittybot … only £1,200.00 per BTC. (BPI +3.06%) #buy #bitcoin #banktrans || 1 #BTC (#Bitcoin) quotes:
$1037.98/$1037.99 #Bitstamp
$1073.99/$1076.11 #BTCe
⇢$36.00/$38.13
$1034.73/$1045.21 #Coinbase
⇢$-3.26/$7.23 || Price Alert: NuShares -10.00% 1h change $NSR - Current Price: 0.00000009 BTC | More #NSR Info http://crypto.press/coins/NSR-NuShares … #CryptoPress || $1183.96 at 06:45 UTC [24h Range: $1165.00 - $1224.20 Volume: 4714 BTC] || Being the biggest bitcoin exchange might be a two edged sword. They've always been creative, maybe we'll see a new solution to this problem. || #Monacoin 13.8円↑[Zaif] -円↓[もなとれ]
#NEM #XEM 4.1484円↑[Zaif]
#Bitcoin 140,020円↑[Zaif]
04/26 01:00
口座開設はこちらで！ https://goo.gl/31dyoO
|
Trend: up || Prices: 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-07-15]
BTC Price: 20836.33, BTC RSI: 46.36
Gold Price: 1702.40, Gold RSI: 23.69
Oil Price: 97.59, Oil RSI: 38.69
[Random Sample of News (last 60 days)]
Silver Price Prediction – Silver prices sustained their rally on a weaker dollar and declining yields: • Silver prices rose on softer economic data.
• Treasury yields fall amid the continuation of last week’s stock sell-off.
• Oil prices moved slightly higher on tight global supply.
Silverpricestraded higher as inflationary fears linger among investors. Gold prices extended gains on Tuesday as the US dollar dipped to a one-month low. The dollar has continued to soften from multi-year highs.
Aggressive Fed tightening has already been priced into the market.Benchmark yields tumbled today as the stock sell-off from last week resumed.The ten-year yield plummeted by 12 basis points today and traded above a level not seen since late 2018. Oil prices rose on concerns over tight supply.
The European Union is clenching a contract on banning Russian oil imports.An embargo will likely offset strengthening demand due to the easing of restrictions in China and increased US oil output.
The US Flash Manufacturing PMI for May came in at 57.5, while the Dow Jones estimate was at 57.4. However, the US Flash Services PMI came in at 53.5, 1.5 lower than the forecast of 55.
These key economic data points signal that mounting inflation has weighed on supply, and declining demand for goods and services.Fed Chair Powell is due to speak today and will likely state the Fed’s aim to raise rates to rein in inflation despite the clear weakness in the economy.
Silver prices remain elevated, holding steady over the $22 level, maintaining a bullish outlook. XAG/USD sustains upward momentum over the 200-day moving average. A weakening dollar and disappointing economic data underpin the positive momentum for the precious metal.
Support is seen near the 10-day moving average of $21.56. Resistance is seen near the 200-day moving average of 23.58. Short-term momentum is positive as the fast stochastic had a crossover buy signal.
The medium-term momentum turns positive as the histogram prints positively with the MACD (moving average convergence divergence). The trajectory of theMACDhistogram is in positive territory, which reflects an upward trend in price movement.
Thisarticlewas originally posted on FX Empire
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• Teenage gunman kills 19 children and teacher at Texas elementary school || XBT Provider AB (Publ) Publishes 2021 Audited Financial Statements for the Year Ended 31 December 2021: XBT Provider AB Stockholm, 8 June 2022 -- XBT Provider AB (Publ) (the "Company") is pleased to announce that the Annual Report and Audited Accounts for the year ended 31 December 2021 are now posted on the Company website. The audited accounts for the Guarantor, CoinShares Capital Markets (Jersey) Limited, for the year ended 31 December 2021 are also available on the website. Interested persons may access electronic copies of these documents at www.coinshares.com/etps/xbt-provider/ --- About XBT Provider XBT Provider AB (Publ) (“XBT Provider”), a CoinShares company, is the Swedish-domiciled issuer of the Bitcoin Tracker One (SE0007126024), Bitcoin Tracker Euro (SE0007525332), Ether Tracker One (SE0010296574), Ether Tracker Euro (SE0010296582), series of certificates (collectively, the “Certificates”) which are designed to synthetically track the performance of the price of the relevant underlying crypto-asset, bitcoin or ether, (in Swedish Kronor or Euro, respectively), less a fee component. In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. The Certificates are available and traded in the same manner as any other share or instrument listed on their respective exchanges. XBT Provider’s Prospectus is approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and the Certificates are governed by Swedish law. XBT Provider is not a licensed financial advisor. The views presented in this release are the opinions of the Board of XBT Provider and no other party. Bitcoin and ether, are volatile assets and their prices (and the price of securities that are referenced to them) can move quickly, positively or negatively. Prospective investors in the Certificates should carefully consider the suitability of such an investment and whether they have sufficient financial resources in order to be able to bear the risks associated therewith and, in connection with such a determination, should carefully read XBT Provider’s latest Prospectus (including, in particular, the risk warnings set out therein). The Certificates do not confer on the holders thereof any claim to or against the relevant underlying crypto-asset to which they are referenced. The value and any payment due under the Certificates will be affected by the exchange rate between the US Dollar and the Euro or, as the case may be, between the US Dollar and the Swedish Kronor. Any returns upon the Certificates will not be the same as the returns which a direct investment of an equivalent sum in the relevant underlying crypto-asset could produce. The Certificates are non-equity linked, non-principal protected, unsecured and unsubordinated and do not bear interest. || Bitcoin Who? Now All Eyes Are on a New Hotshot Prospect by the Name of BRIDGE: TORONTO, ON / ACCESSWIRE / June 16, 2022 /As Crypto markets decline, one Crypto Asset has caught big investors attention, and for a good reason.
The Crypto Asset in question is Bridge Finance. Bridge was launched on March 5th, 2022, with one main goal in mind; to change the course of evolution in Cryptocurrencies to the better, forever. Bridge has been performing in spectacular bullish fashion despite the rest of the markets bearish performance, here is why.
The Bridge team have an astounding amount of developments and these developments can truly change the course of Crypto's growth. First and foremost is their blockchain which is in development. At first glance a blockchain does not seem too impressive to veterans in the crypto space. The BridgeChain, however, is no ordinary blockchain system. The Bridge team are implementing auto transactional coin deflation, auto liquidity pool addition, auto dividend earnings and more, all within their blockchain system which is already in development. Another truly spectacular development which will be a branch from the blockchain is the Bridge Crypto-to-Fiat payment system, which will allow users to use Bridge's native token $BRG to make on demand purchases and transactions in the real world with the Bridge Card.
On top of the vast technological developments that Bridge have, they also have some business models that will function using the native $BRG coin such as, a Crypto focused hedge fund, a Bridge realty sector with exclusive real estate for $BRG investors and more! Within three days of launching the Crypto Asset exploded to a eight hundred thousand dollar market capitalization and has held up strong even through current market turmoil. With all of this amazing work coming from this Crypto asset's team and community it would not be surprising whatsoever to see Bridge ($BRG) go head-to-head with big names in the Crypto space such as Bitcoin, Ethereum, Solana and others in the foreseeable future. Bridge's CEO, Simon Popov, and Executive Vice Presidents, Kevin Monangai and Bryce Power stated"Bridge is not just a nice name or a cool logo. It's a hedge against everything. Whether it's inflation, market correction or anything else. Bridge is the answer to everything and our developments will prove this."
The Bridge team is mostly based out of Canada and the United Sates and some team members are also from the United Kingdom and other parts of Europe. Almost all team members come from a finance background and others from a tech development background. They have undergone KYC procedures to ensure transparency and trust with their investors and continue to deliver endlessly to their investors. The overall sentiment within the Bridge community has been one hundred percent positive which is extremely refreshing to see while the rest of the market takes a hit.
Contact details:Simon Popov (CEO)simonpopovwxp@gmail.com+1 (647)-273-2202
All information on bridge can be found on their website -https://bridgefinancetoken.web.appBridge twitter -https://mobile.twitter.com/bridge_bscBuy Bridge -https://pancakeswap.finance/swap/0xA6d416a7B0ad227a1c2475A7CD986E9BFc39B3C9Bridge Charts -https://nomics.com/assets/brg3-bridgeBridge Telegram -https://t.me/BridgeFinance_BSC
SOURCE:Bridge Finance
View source version on accesswire.com:https://www.accesswire.com/705492/Bitcoin-Who-Now-All-Eyes-Are-on-a-New-Hotshot-Prospect-by-the-Name-of-BRIDGE || Musk Backs Billionaire Developer Caruso for LA Mayor: (Bloomberg) -- Elon Musk is backing billionaire real estate developer Rick Caruso for mayor of Los Angeles, a rare political endorsement by the world’s richest man. Most Read from Bloomberg Russia Hits Kyiv With Missiles; Putin Warns West on Arms Why Peak Inflation Is Near, According to Experts Who Bet on Short-Lived Price Rises Saudis Raise Oil Prices More Than Expected Amid Asia Rebound US May Allow More Iran Oil to Flow Even Without Deal, Says Vitol Bitcoin Miners Are Selling Tokens as Prices Linger Near Lows “Los Angeles is fortunate to have someone like Rick Caruso running for mayor. He’s awesome,” Musk wrote on Twitter Friday. A dozen candidates are on the June 7 primary ballot for mayor, with Caruso and US Representative Karen Bass leading in polls. If no candidate gets more than 50%, the two top vote-getters face off in November. Caruso was a long-time Republican who registered as a Democrat in January before entering the non-partisan mayoral race. Caruso, 63, is making his first run for political office. He’s campaigning to tackle LA’s surging homelessness and crime, vowing to create 30,000 beds for the unsheltered while hiring 1,500 additional police and 500 sanitation workers to clean up the streets. He’s flooded media with ads, lending his campaign $33.5 million of his $3.7 billion fortune built from developing luxury malls, apartments and hotels. Musk, now a resident of Texas, lived in Los Angeles for several years, putting his four homes in the posh Bel Air district on the market in 2020 after tweeting that he planned to unload “almost all physical possessions.” He endorsed Democrat Andrew Yang in the 2020 race for president, joking in a tweet that the businessman would be “our first openly goth president.” Musk’s fortune has slid almost $43 billion this year to $227.5 billion, according to the Bloomberg Billionaires Index, as Tesla stock has tumbled. Last week, his wealth fell to $192.7 billion, the lowest since Aug. 26. Story continues Musk laid out his political approach in another tweet Friday: “It is rare for me to endorse political candidates,” he wrote. “My political leanings are moderate, so neither fully Republican nor Democrat, which I am confident is the case for most Americans. Executive competence is super underrated in politics – we should care about that a lot more!” The chief executive officer of Tesla, SpaceX and Neuralink has become more vocal about politics in the past year. After clashing with Democrats over billionaires’ taxation, he declared last month that he will vote Republican and that the Democrats, who he previously voted for, are the party of division and hate. He has said that if he completes the acquisition of Twitter Inc., he’ll reverse the ban on former President Donald Trump. In recent days, he’s also asked his more than 96 million Twitter followers who do they trust less, politicians or billionaires, and he commented on gun rights and the Second Amendment. He can be grateful to Democrats. Musk tweeted “Thanks Mr. President“ Friday after NASA picked SpaceX to land the next Americans on the moon. Read More: Billionaire LA Mayor Hopeful Urges State to Refund Huge Surplus (Updates with Musk’s wealth in eighth paragraph) Most Read from Bloomberg Businessweek Ukraine’s Tactics Are Showing Smaller Countries How to Fight Back Oz Won by Ditching the Oprahverse for Trump and Planet Hannity Sheryl Sandberg’s ‘Lean In’ Missed What Most Women Needed In Seattle’s Burning Hot Real Estate Market, It’s A.I. or Bust Seven Ways to Beat Burnout and Get Your Career Back on Track ©2022 Bloomberg L.P. || With Ethereums Ropsten Merge Incoming, Where can ETH price go?: Key Insights: The Ropsten Merge could take place by June 10. Amid high anticipation of the merge, price gains are expected from ETH. While there is an excellent long-term opportunity for ETH price, gains would depend on some key factors. According to a recent blog post from Ethereum , Ropsten, the chains oldest testnet, is about to undergo its transition to proof of stake (PoS). This would be a major milestone marking the final tests ahead of the merge on the main Ethereum blockchain. The exact timing for the merge would vary depending on certain variables; however, it the expected to happen on Wednesday. Many market participants expect the much-awaited merge, to bring a breeze of fresh air to ETH prices. However, it remains to be seen whether ETH prices would pump. Ropsten for the Rescue? The longest-running Ethereum proof of work (PoW) testnet is set to transition to proof of stake. Previously, Ethereum core developer Tim Beiko had announced that the Merge is scheduled for June 8 on the network. However, a recent post made it clear that the Merge would occur by June 10. Beacon Chains launch on the Ropsten test network marks a huge milestone for Ethereum. The Beacon Chain is a PoS network that runs alongside Ethereums mainnet, which is PoW. The test network acts as a bed for Ethereums approaching shift in the consensus mechanism, as the two chains would merge to form a single PoS network. One of the primary objectives of the merge is to practice Ethereums mainnet merge later this year. Ethereum core developers have carried out merge tests in the past, including a shadow fork on the main network and another merge on the Kiln testnet. The merge would combine the code of Ropstens two chains, both proof of work and proof-of-stake beacon chain. A similar process for the Ethereum mainnet merge will happen later this year. The Ethereum merge is a much-anticipated event in the crypto space and is expected to affect ETHs price amid high social anticipation. Story continues Taking a look at ETH price A CryptoQuant post highlighted that sentiment analysis, aSOPR, and Exchange Reserve; we are still in the buy-zone. While the top two assets prices had fallen rapidly by more than 5% in the past hours, there was a decent buy opportunity. Fear & Greed Index indicates that retail investors are extreme fear for more than two months. According to the aSOPR, bitcoin and ethereum prices may not have reached the real bottom yet, but prices were still swinging in the buy-zone. The same meant that it was a good opportunity to build long-term positions. That said, exchange reserve ( BTC and ETH) also continued to decline over the past three months. While some metrics presented a moderately bullish outlook, the top altcoin lost nearly 50% of its value since the beginning of this year, while ETH/ BTC pair also lost power. ETHs price has been trading below the $2,000 price as investors sentiment maintained a bearish narrative for the most of the last few months. At press time, despite the social anticipation of the merge, ETH price was at $1,808, noting 2.66% losses on the daily and 7.45% losses on the weekly chart. The $1,720 mark can act as a strong support level going forward; if ETH price continues to hold above the level, price gains can be expected. However, a fall below this key support could bring the price down to the next strong support at the $1,300 mark. This article was originally posted on FX Empire More From FXEMPIRE: VWs CUPRA to launch three electric models by 2025 Poll shows French President Macrons bloc ahead in parliamentary election San Francisco District Attorney Chesa Boudin recalled Australia accuses Airbnb of misleading customers on price San Francisco district attorney recalled amid crime concerns China will adopt targeted measures to help foreign trade firms: vice commerce minister || Chargepoint Stock Is Looking to Recharge After a Punishing Pullback: Electric vehicle charging station manufacturerChargepoint Holdings(NYSE:CHPT) has certainly come down sharply from the euphoric highs of last December. CHPT stock is now nearly 66% below those highs. The company continues to bleed cash. The last four quarters have shown losses, with more likely on the horizon.
Mark Hakerecently took a deep diveon the future and the financials for Chargepoint. He recommended patience before pulling the trigger, but did feel the current cash burn rate will continue to temper.
Chargepoint is one of those stocks that is more about the idea than the earnings. CertainlyEVcharging stations will continue to show exponential growth over the coming years as electric vehicles become more and more prevalent. The real question is how much of this burgeoning market Chargepoint will ultimately capture.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
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CHPT stock has been a a well-defined downtrend since making all-time highs near $50 to at the end of 2021. Shares continue to make a series of lower highs.
This was clearly evident yet again last week. CHPT traded up to just past $15 before it reached overbought levels on a technical basis. The trend line held once again as the stock was once again rebuked and returned back to the 20-day moving average.
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This marks the fourth time this scenario has played out in a similar fashion over the past six months. Look for this downtrend line to continue to be significant overhead resistance over the coming weeks.
CHPT stock saw enormous option volume on June 3. Over 100,000 of the July $15 calls traded versus just 818 open interest-meaning this was fresh aggressive buying. The 100,000 contracts equates to a potential commitment for 10 million shares of stock. Since that time an additional 20,000 contracts have traded. Open interest now stands at over 120,000. Big-time buying to say the least.
While big time call buying doesn’t always mean someone knows something, it sometimes coincides with subsequent large underlying moves in the stock.
The continued call buying has driven up the implied volatility (IV) on the options sharply from under 80 before the buying to over 97 now. Higher IV means option prices are comparatively more expensive. This favors option selling strategies when constructing trades.
So to position to follow the flow and lean bullishly with the big call buyer, a covered call strategy makes probabilistic sense. Plus you are selling expensive calls to hedge a stock trading at a cheaper level.
Buy CHPT stock and sell the July $15 calls for $11.70 net debit or better.
Each call controls 100 shares of stock, so sell one call for every 100 shares bought.
Selling the calls reduces the downside exposure by the premium you received for the sale. Since there is no free lunch, it also caps off the gains above the $15 strike price. The $15 strike price is also right at the downtrend line that has been a ceiling on the stock.
The trade is 72 deltas net long at inception, or the equivalent to 72 shares of stock for each 100 shares bought and call sold.
In essence, you give up some of the upside to protect some of the downside when doing a covered call trade. In the case of this trade, the upside would still be a healthy 28% overall return on CHPT stock if it is above $15 at July expiration.
If CHPT stock is below $15 at July expiration, additional calls could be then sold to further reduce the downside risk.
Traders and investors looking for a lower-risk way to take a bullish stance in CHPT stock would do well to consider a covered call strategy.
On the date of publication, Tim Biggamdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The postChargepoint Stock Is Looking to Recharge After a Punishing Pullbackappeared first onInvestorPlace. || Can Dogecoin and Shiba Inu Recover After Support From Coinbase?: • Dogecoin was down by nearly 3.19% over the last 24 hours.
• Similarly, Shiba Inu’s price was down by over 7% in a day.
• After tracing decent gains over the weekend, these tokens are due for a pullback to their lower support levels.
Bitcoinand other majorcryptocurrenciesshowed weakness in the early trading hours of Wednesday as the global cryptocurrency market cap slipped below the $900 billion mark at press time.
As another month approached its end, the larger crypto market continued to present bearish signals, with the top cryptocurrencies noting losses on their daily window. Meme tokens likeDogecoinandShiba Inucharted some notable gains over the weekend, but the global market’s bearish momentum pulled DOGE and SHIB’s prices down.
BTC’s price fell below the $20,000 mark, which affected the short-term bullish momentum certain altcoins had gained over the last few days.
Nonetheless, market news kept the enthusiasm alive among meme coin HODLers asCoinbaseCommerce announced adding Dogecoin and Shiba Inu to their platform for users.
Despite the recent uptick in positive social sentiment for the two meme tokens, DOGE and SHIB continued their downtrend. So, here’s how DOGE and SHIB’s price action could pan out amid higher sell-side pressure:
Support fromTeslaChief Elon Musk and social anticipation isn’t always enough to push DOGE’s price up. Recently, Musk candidly admitted in an interview that it was not his idea to support DOGE, but that of his Tesla employees, who encouraged and invited him to support the meme coin.
However, the positive sentiment fueled by Coinbase and Musk wasn’t enough to keep DOGE’s price rallying.
Recently, Coinbase Commerce gave a push to Dogecoin’s utility by enabling users to make instant and free Dogecoin payments to merchants on the platform. Despite the support from Coinbase DOGE price slumped from a high of $0.078 to $0.0669 at press time.
Amid higher sell-side pressure, if bears manage to take control of DOGE’s price the coin could continue its downward trend towards the $0.061 lower support and then to the $0.055 support in the near term.
Nonetheless, an uptick in buying pressure on the one-hour price chart showed DOGE’s rebound from the $0.064 mark, which could play in the coin’s favor in the short term.
Since June 18, Shiba Inu’s price has risen by more than 55%; however, with the market’s short-term bullishness fading away, indicators suggest that SHIB, pretty much like DOGE, is primed for a spike in profit-taking.
As per Into the Block’s In and Out of Money indicator, SHIB faced a strong resistance at the $0.000012 mark, where almost 6,280 addresses had previously purchased over 31 trillion SHIB. Once the price nears this higher-level market participants could be tempted to sell their tokens. A rise in selling pressure can further push SHIB’s price down.
For now, the $0.000010 price level will act as the most critical support/resistance zone for Shiba Inu. SHIB’s price break below the $0.000010 level at press time has added to the bearishness for the meme token.
At the time of writing, SHIB traded at $0.000009882 and was down by 7.33% on the daily chart. Further correction to $0.000008 could be likely if SHIB’s price breaks below the $0.000009 mark.
Thisarticlewas originally posted on FX Empire
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• Pelosi takes communion at papal Mass, defying some U.S. bishops || Horizon’s US$100 mln crypto hack prompts FBI investigation: The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocol’s Horizon cross-chain bridge.
See related article:Axie Infinity hack proceeds continue to be laundered despite US sanctions
• Harmony Protocolannounced it was attacked on Friday morning Asia time, adding it had alerted exchanges of the suspect’s blockchain wallet address and halted the Horizon bridge.
• The Horizon bridge allows users to transfer cryptocurrencies and assets from Harmony’s layer 1 blockchain to Ethereum, BNB Chain and Bitcoin.
• Harmony Protocol said the exploit did not impact the trustless Bitcoin bridge, where assets are stored in decentralized vaults.
• The theft may have taken place due to a compromised private key, PeckShield — the blockchain security firm tapped by Harmony — chief executive officer Xuxian Jiangreportedly told Bloomberg.
• The hack on Harmony follows a string of attacks against blockchain bridges like Wormhole and the Ronin Bridge.
See related article:Perpetrator of South Korea’s ‘Bitcoin-gate’ untraceable || Elon Musk says hes still buying dogecoin after 90% price crash: Dogecoin is trading at yearly lows in June 2022 after its price crashed by more than 90 per cent from its peak (Getty Images) Elon Musk has revealed that he is still buying dogecoin despite the meme-inspired cryptocurrency losing more than 90 per cent of its value over the last 13 months. The price of dogecoin saw a brief surge following the billionaires comments on Sunday evening, though any gains were again wiped out within a few hours. I will keep supporting dogecoin, he tweeted , before confirming to one of his followers that he will keep buying it. The worlds richest person has been a vocal advocate of dogecoin in recent years, claiming that it is one of only three cryptocurrencies that he has personally invested in, alongside bitcoin (BTC) and Ethereum (ETH). As the head of Tesla , he has also made it possible to purchase some products using the cryptocurrency , having blocked bitcoin payments due to environmental concerns. Speaking to Time magazine last year, Mr Musk claimed that dogecoin was more suitable as a mainstream currency compared to bitcoin, as it does not have a fixed supply. Even though it was created as a silly joke, dogecoin is actually better suited for transactions, he said. It is slightly inflationary... but thats actually good as it encourages people to spend rather than to hoard it as a store of value. Mr Musk, who made his first fortune as the co-founder of the online payments giant PayPal, has also previously proclaimed himself as the CEO of dogecoin. I am Elon Musk (@elonmusk) June 19, 2022 The record-breaking price rally in 2020 and 2021 was partly attributed to comments made by Mr Musk, particularly in the build-up to his appearance as the host of Saturday Night Live in May 2021, when he was expected to hype up the cryptocurrency to millions of viewers. After reaching close to $0.70 in the build-up to the show, it subsequently crashed spectacularly and is currently trading below $0.06. Most of Mr Musks previous projections for dogecoin and the cryptocurrency space more generally have been long term, once quipping that a Mars economy will run on crypto. Story continues In a 2021 Q&A session on the app Clubhouse, he said: Fate loves irony... The most entertaining outcome is often the most likely and arguably the most entertaining outcome, and most ironic outcome, would be that dogecoin becomes the currency of Earth in the future. Following his latest comments, dogecoin co-founder Billy Markus thanked the tech billionaire for his support. Youve always been earnest about supporting the coin for what i consider the right reasons you find it amusing, appreciate the satire and irony, and you think it has potential as a currency and your companies accept it for merch, giving it more utility, he tweeted. || Bitcoin and ETH Price Prediction: Recovery Face Hurdles, AVAX Aims Higher: • Bitcoin started an upside correction above the $20,000 resistance.
• Ether (ETH) was able to recover above $1,050 and $1,100.
• AVAX seems to be forming a support base above $15.
After a strong decline,bitcoinprice found support near the $17,800 zone. A base was formed and the price started an upside correction.
There was an upside correction above the $19,000 and $19,500 resistance levels. The price even cleared a key bearish trend line with resistance near $19,000 on the hourly chart. BTC is now trading above the $20,000 level and the 21 simple moving average (H1).
On the upside, the bulls are facing resistance near the $21,350 level. A clear move above $21,350 might send the price towards $23,000. If not, bitcoin could slide and revisit $19,000.
ETHalso followed a similar pattern and started a recovery wave from the $900 support zone. There was a decent upward move above the $1,000 resistance zone.
Ether was able to surpass the $1,060 resistance level and the 21 simple moving average (H1). On the upside, the previous support at $1,150 is acting as a strong resistance. A clear move above the $1,150 level could start an increase towards $1,260.
If not, the price might break a key bullish trend line at $1,100 on the hourly chart and continue lower. The next major support is near the $1,050 level.
AVAXstarted a major decline from the $70 resistance zone. There was a clear move below the $55 and $50 support zone to start a downtrend.
There was a downside break below the $25 support level and the 21-day simple moving average. The price even declined below the $20 level before the bulls appeared near the $15 zone.
AVAX is now forming a base above the $15 level and is currently rising. The main hurdle on the upside is near the $20 level and a major bearish trend line on the daily chart. A close above the $20 level may perhaps start a major increase.
If there is no upside break, the price could revisit the $15 support. Any more losses might call for a test of the $12 support.
Cardano (ADA)is up 6% and trading above the $0.485 level. If it surpasses $0.50, the bulls could aim a decent increase.
Binance Coin (BNB)is slowly moving higher towards the $215 and $220 levels. The main resistance on the upside is near the $235 level.
Polkadot (DOT)is up over 8% and is currently approaching the $8.0 resistance. A close above $8.0 might start a steady increase in the coming sessions.
A few trending coins areSOL,DOGE, andMATIC. Out of these,SOL is gaining paceabove the key $35 resistance zone.
Thisarticlewas originally posted on FX Empire
• Trade Of The Week: Gold Waits For Another Directional Catalyst…
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• Technical View for June 21st 2022: $1.05 Echoing Potential Weakness on EUR/USD; $1.04 Eyed
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 21190.32, 20779.34, 22485.69, 23389.43, 23231.73, 23164.63, 22714.98, 22465.48, 22609.16, 21361.70
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-07-15]
BTC Price: 10895.09, BTC RSI: 49.75
Gold Price: 1411.40, Gold RSI: 64.59
Oil Price: 59.58, Oil RSI: 57.76
[Random Sample of News (last 60 days)]
Brazil Shuts Down Cryptocurrency Pyramid Scheme That Defrauded 55,000 of $200 Million: Brazillianpolice have arrested ten people suspected of operating acryptocurrencypyramid schemeworth 850 million reals ($210 million), local news media outlets includingCorreido Do Povoreported on May 21.
As part of Operation Egypto, a swoop dedicated to unearthing unsanctioned financial schemes, Brazil’staxagency joined police in orchestrating a crackdown on the figures behind Indeal, who they say amassed funds from 55,000 investors.
They lured victims with the promise of a 15% payout in the first month after investment in the crypto scheme.
In total, the investigation involved inspection of 13 individuals and five legal entities.
“The problem with this company is that it was acting without authorization,” Correido Do Povo quotes Delegate Eduardo Dalmolin Boliis of the federal police’s Office of Corruption and Financial Crimes as saying.
Bearing the signs of a classic financial pyramid, confiscations of assets belonging to the figures involved showed that Indeal would not be able to service withdrawals from all its investors at once.
They also used investments to pay for luxury items, authorities said, including 30 cars and precious stones that were subsequently confiscated.
The news comes the same week as theUnited Statestook action against aPonzi schemenetwork tied to a cryptocurrency that was claimed to bebacked by diamonds. In this instance, the leaders of the network reportedly duped domestic and foreign clients into handing over around $30 million over several years.
Cryptocurrency use is not illegal in Brazil, with the police taking pains to reiterate the impetus for the Indeal raid was the lack of legality behind its business.
As Cointelegraphreported, Brazilian police had conducted another operation on a cryptocurrency drug ring in April.
• Fake Crypto Wallet App Imitating Trezor Found on Google Play Store
• Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer
• 2 Chinese OTC Traders Accused of Illicitly Raising Bitcoin by Promising Interest
• Hackers Steal $100,000+ Worth of BTC From Engineering Manager at Crypto Custodian BitGo || Korea: Former Financial Regulator Deputy Governor to Serve as Blockchain Association Chief: The former deputy governor ofSouth Korea’sfinancial regulator, the Financial Supervisory Service (FSS), has been nominated to lead the Korea Blockchain Association. The news, revealed by the association on Monday, was reported by local English-language dailyThe Korea Timeson June 13.
The Korea Blockchain Association seeks to create regulations forblockchaintechnology and the cryptocurrency sector, and countscrypto exchanges, crypto-related enterprises and public institutions as members. It is reportedly set to appoint Oh Gap-soo, 70, to the role at a forthcoming general meeting scheduled for June 24.
Oh is reportedly currently president of the Global Finance Society, and previously worked as deputy chief of Standard Chartered Bank Korea, as well as as an external director at KB Kookmin Bank, one of Korea’s largest financial institutions.
Per The Korea Times, Oh also created the financial policies for President Moon Jae-in’s election campaign.
The association’s former chairman, Chin Dae-je, had reportedly expressed his wishes to step down from his role during a general meeting held this March.
Oh — set to become the association’s second chairman since its launch in March 2018 — will ostensibly serve a three-year term in the role.
As The Korea Times writes, the association has previously faced criticism over its alleged failure to defend the interests of domestic crypto exchanges in the wake of a real-name trading policy for the crypto sector. The policy,devisedby the Korean government in late 2017, is reportedly perceived to have cooled investors’ interest in the market.
Asreported, a Korean pan-governmental meeting was reportedly recently convened to establish closer monitoring of the country’s crypto market amid the recentsharp uptickin crypto valuations. Local officials had ostensibly interpretedbitcoin(BTC)’s recent break above 10 million won (~$8,400) as a sign of a possibly overheating market.
• Major Korean Bank Signs MoU With Atomrigs Lab to Explore Crypto Asset Management
• Conglomerates’ Deep Pockets Continue Blockchain Growth in South Korea Despite Crypto Ban
• Swedish Bitcoin-Powered Mobile Refill Service Bitrefill Raises $2M to Expand Services
• Ripple Launches Office in Brazil, Targets Further Expansion Across Latin America || US LocalBitcoins Trader Who Offered Fake Real Estate Gets 21-Month Jail Term: United Statesauthorities have brought criminal charges against aLocalBitcoinstrader in connection with operating an unlicensed money transmission business, a governmentpress releaseconfirmed on May 28.
As revealed by the U.S. Attorney’s Office for the Southern District ofCalifornia,Las Vegasresident Morgan Rockoons will serve 21 months in federal prison for his activities, which also included a bitcoin (BTC)-based real estate fraud scheme.
According to the release, Rockoons made over a thousand trades on the P2P platform until the end of 2017.
Having failed to register as a money transmitter with the Financial Crimes Enforcement Network (FinCEN), Rockoons had fallen onto the radar of San Diego law enforcement several years earlier as the biggest-volume trader in the area.
An indictment appeared in November 2017, with arrest in February the following year. After his release on bail, however, Rockoons began operating an allegedly outright criminal business, “Bitcointopia,” offering land which never existed in return for bitcoin.
“Victims who sent Rockcoons Bitcoin never received their title to land as promised. To date, agents have identified at least 10 victims of Rockcoons’ fraud,” the release confirms.
Rockoons was again arrested in October 2018, andplead guiltyto crypto-related fraud charges in related to Bitcointopia as well as to operating a money transmitting business without a license in March of this year.
In total, the profits from the activities topped $80,000, which Rockoons will now forfeit in addition to the jail term after his guilty plea.
The takedown continues an increasingly zero-tolerance policy towards informal trading in the U.S.. As Cointelegraphreported, regulators keen to standardize the landscape have brought charges against a host of individuals, many as part of the so-called Operation Cryptosweep which began in 2018.
In terms of crime, May also saw thehaltingof a major Ponzi scheme which involved 300 investors from the U.S. andCanadalosing money to promoters of an allegedly diamond-backedcryptocurrency.
In Brazil, meanwhile, a separate swoopshut downa much larger pyramid scheme that reportedly defrauded over 55,000 people.
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• Galaxy Digital Purportedly Recruits Former Head of OTC at Coinbase || Bitcoin Analyst Bets $250,000 BTC Plunges 75%: Heres Why Hell Lose: Bitcoin analyst Tone Vays threw down the gauntlet by betting $250,000 that BTC will crash below $2,000. Here's why he's guaranteed to lose. | Source: Shutterstock By CCN : Several months ago, Tone Vays , a polarizing figure in the crypto community, laid down the gauntlet on Twitter. Doubling down on his gloomy short-term bitcoin price forecast, Vays challenged his critics to take on a bet thats worth $250,000. Analyst: Bitcoin Price Will Crash Below $2,000 The terms are simple: if the bitcoin price drops below $2,000 before the 2024 halving , Vays wins, and the loser sends him 100 BTC (worth $200,000 that day). On the other hand, if bitcoin does not fall below $2,000 in five years, Vays sends $250,000 or 1 bitcoin, whichever is worth more. Here is my bet offer as I take off on a 17hr flight: If #Bitcoin drops under $2K you give me 100 $BTC = $200K that day. If it does NOT drop under $2K, I give you $250K or 1 BTC (whichever has a higher $ denominated value) I have until 2024 halving to be sure $2k won't happen :) Tone Vays [#UnderstandBit] (@ToneVays) March 5, 2019 Right now, it appears that no one has taken up Tone Vays on his offer, but we did our homework and discovered that the odds are stacked against him. In this article, we reveal the reasons why Vays will almost certainly lose that bet. First Nail in the Coffin: Bitcoins Bear Market Bottom Is In We have one advantage on Tone Vays: He issued his challenge on March 5, when bitcoin was trading around $4,000. Two months of price action has fundamentally altered the market climate, and BTC must now plunge 75% for Vays to run the table. Here is my bet offer as I take off on a 17hr flight: If #Bitcoin drops under $2K you give me 100 $BTC = $200K that day. If it does NOT drop under $2K, I give you $250K or 1 BTC (whichever has a higher $ denominated value) I have until 2024 halving to be sure $2k won't happen :) Tone Vays [#UnderstandBit] (@ToneVays) March 5, 2019 Weve scoured the replies of this tweet, and it looks like no one took Vays up on the offer. However, we have yet to see Vays publicly state that the bet is closed. Therefore, the bet still stands even after bitcoins bullish move . Too bad for Vays, the parabolic run over the last few weeks indicates that the bear market bottom is in. Read the full story on CCN.com . || Samourai, Nodl to Launch Bitcoin Lightning Node With Mixing Features: The mobile bitcoin wallet project Samourai Wallet is partnering with the French hardware retailer Nodl to create a bitcoin node device that syncs with Samourai’s privacy-centric mobile wallet. Revealed exclusively to CoinDesk, Nodl co-founder Michel Luczak said this new product will be a “full, self-validating, bitcoin and lightning node” that allows people to use the mobile wallet app without relying on Samouri Wallet’s servers. This has long been a point of contention, as critics argue the wallet’s privacy features are insufficient if users’ transaction data is stored on a centralized server anyway. The new node devices will be available this year, the Samourai Wallet team told CoinDesk. Plus, Nodl node owners will be able to update their devices to add Samourai Wallet’s Dojo software. This software will include a feature called Whirlpool , which batches bitcoin transactions together across wallets in order to obfuscate the source of funds. Lightning Co-Creator Releases Code for Bitcoin Scaling Concept “In addition to Dojo being preloaded onto Nodl devices we will also be preloading Whirlpool desktop mixing, allowing users to access and manage their Samourai Wallet mixing on their desktop,” the Samourai team told CoinDesk. The partnership comes as Nodl sales see an uptick, according to Luczak, expecting to sell roughly 500 devices in 2019 if the current trajectory continues. “For the first time you’ll have a one-click install mixing service that’s available to anyone,” Luczak said. Earlier this month, the company behind Samourai, Katana Cryptographic, announced its first venture funding round : a $100,000 investment from Cypherpunk Holdings. Samourai Wallet Raises First Funding Round in Fight Against Bitcoin Surveillance Samurai sword image via Shutterstock Related Stories Can Bitcoin’s Lightning Network Power Payments in a Japanese Bar? EY Open-Sources ‘Nightfall’ Code for Private Transactions on Ethereum || 6 Surprising Takeaways From Bitcoins 2019 Bull Run: Bitcoin ( BTC ) rising above $10,000, $11,000 and $12,000 surprised everyone in 2019 - but the takeaways from this years surge makes for unbelievable reading. As Cointelegraph reported , this years bitcoin price action has little in common with 2017 - the last time a parabolic advance occurred. Instead, the current cycle is giving investors serious reasons to celebrate. 1. Bitcoin Already Quadrupled From its Bear Market Floor Since November 2018, when turbulence from the bitcoin cash ( BCH ) hard fork hit markets, BTC/USD has recovered three times over . At the time, the pair hit its lowest point in a bear market which had lasted 11 months - around $3,130. Just seven months later, bitcoin is topping out at $12,800. The past three months - since the major phase of the bull run began - has seen BTC/USD gain an astonishing $9,000. 2. $11,000 Per Bitcoin is Fairly Valued Parabolic price moves tend to trigger worry as well as rejoicing. According to one analyst, however, even despite the $9,000 leg-up, Bitcoin in fact remains appropriately priced. According to Bloomberg journalist Tracy Alloway, creator of a bitcoin price index based on - of all things - avocados, current BTC/USD levels show appropriate correlation. Bitcoin has shared surprisingly similar behavior with Mexican Hass avocados during a mutual bear market. Bitcoin remains fairly valued according to my avocado-based pricing model, even after rising past $11,000, Alloway summarized . 3. Bitcoin and Avocados Soar As Dollar Crashes Under 10,000 Satoshis If roughly the same number of avocados will net you a bitcoin, the same certainly cannot be said about the US dollar. A chart currently circulating on social media capture the moment when 1 USD no longer corresponded to 10,000 satoshis, bitcoins smallest increment. In January this year, $1 could have netted almost 30,000 satoshis. 4. The Kimchi Premium Is At $13,000 As the bull run continues, questions are being asked about its source. As Cointelegraph previously reported , Asian markets appear particularly actively involved in Bitcoin this year, reversing a trend from 2018. Story continues Among these, the so-called Kimchi Premium - a phenomenon where South Korean traders pay more for bitcoin in fiat terms - remains conspicuous this week. According to exchange data , the price of bitcoin on major South Korean platforms has already passed $13,000. 5. Bitcoins Hash Rate Is Stronger And More Secure Than Ever As previously mentioned, strong bitcoin network fundamentals provided the backdrop to sustained price gains. Among these, the total network hash rate continues breaking records on an almost daily basis in June. In the words of Hodlonaut, the Twitter user who returned to the platform amid a legal battle with infamous self-proclaimed Bitcoin creator, Craig Wright , bitcoin won after reversing its hash rate downturn. 6. Will Bitcoin Continue to Surprise the Market? Given the speed of its gains, the future for BTC/USD remains uncertain. According to one popular analyst Filb Filb , the historic trend should ultimately spark a price correction to around $9,500. First, however, markets could easily run to $16,000 or even higher. He said: This would mean that although bitcoin is in the final leg of this run, it could still top out at 16k before a correction to somewhere around $9.5k. This would meet the criteria of surprising the market, which is what bitcoin does best, he adds. Related Articles: Bitcoin Price Correction Continues as $13,800 Becomes Key to Further Gains Winklevoss Twins Fortune Doubles in 2019 Reclaiming Bitcoin Billionaire Status Bitcoin Breaks $13,000 As Rally Continues Genesis Capital: Institutional Activity in Crypto Up 300% in 12 Months || The Ledger: IPOs to Rival Dotcom Bubble, Facebook 'GlobalCoin' Coming Soon, Billion-Dollar Blockchain Buybacks: 2019 is poised to be the biggest year for U.S.-listed initial public offerings since the dotcom bubble. That was one of my findings in a piece I contributed to the recently published Fortune 500 issue of the magazine. As Kathleen Smith, cofounder of Renaissance Capital, an IPO-tracking firm, told me: “We think we can get to over $100 billion in issuance,” or money raised by capital market debutantes. The last record was set in 2000, when companies pulled in $97 billion. This projected record-breaking year has been propelled, in part, by so-called unicorn tech companies. Venture capitalists, looking to wind down their outstanding funds, have at last dug their heels into the fattened flanks of their portfolio companies, compelling them to list on stock exchanges, though years later than usual. The urgency to raise money from public investors had been forestalled by a new breed of deep-pocketed private investors ready to shower firms with ample, late-stage funding. The trend is perhaps best epitomized by the mega-sized cash injections of Softbank impresario Masayoshi Son, the Don Corleone of Silicon Valley, whose offers, doled out of a $100 billion, Saudi-soaked “vision fund,” are not to be refused. The rise of Goliaths has made lives harder for the Davids. Barry Silbert, who runs Digital Currency Group, told Fortune during an appearance on a recent episode of Balancing The Ledger that, since selling SecondMarket, a marketplace for people to trade private shares in startups, to NASDAQ in 2015, he has kept his distance from, and been disappointed in, the world of public equities. “I continue to think the public markets are broken in that they’re no longer accessible for smaller, fast-growing companies,” he said. “I think that’s a shame.” How will the financial industry adapt to such toughened conditions? Like many techno-optimists, Silbert has set his sights on software solutions. He is looking, unsurprisingly, toward innovations sprouting from blockchains and digital currencies. Binance, the cryptocurrency exchange giant, has been testing out “IEOs,” or initial exchange offerings, an obvious descendent of the speculative token sale or initial coin offering (ICO), for instance. (“I wasn’t a fan of ICOs,” Silbert noted on the show. “But I do think that experimentation like that is important,” he said, describing himself as “philosophically supportive.”) Story continues Regulators aren’t buying it. Especially in the U.S., their recent guidance has forced entrepreneurs into tough spots. Jeremy Allaire, CEO of Circle, a cryptocurrency outfit that recently laid off 30 employees , said he was “ deeply frustrated ” by the U.S. Securities and Exchange Commission’s stance on digital assets. Fred Wilson, a prominent investor at Union Square Ventures, called U.S. securities laws “ very damaging policy ” in a post on Twitter. Kik, an ICO-peddling chat app on whose board Wilson sits, has vowed to battle the SEC in court. The company will either prevail or go down guns a-blazing; it is soliciting donations in cryptocurrency to pay legal costs related to the fight. It’s unclear what the future of capital formation, public markets, and equity investment will hold in the years ahead, but there are guaranteed to be big changes—or at least a blossoming of alternatives. As Silbert forecasts, over the next decade or so, the financial industry “will look a lot different.” The Ledger team agrees. We’ll be discussing the multifarious possibilities with the industry’s top minds at Brainstorm Finance , our invitation-only, seaside retreat in Montauk later this month. Do email us if you’re interested in an invitation. GOT TIPS? Send feedback and tips to ledger@fortune.com, find us on Twitter @FortuneLedger or email/DM me directly at the contact info below. Please tell your friends to subscribe . Robert Hackett @rhhackett robert.hackett@fortune.com THE LEDGER’S LATEST Facebook Could Fix the News Industry With Micropayments—Unless Kik Does It First by Jeff John Roberts Some Think the Fed May Be Employing a Special “Donald Discount” by Shawn Tully These Stocks Are Born to Run by Rey Mashayekhi Is Apple’s App Store a Monopoly? Workers at These Tech Companies Think So by Don Reisinger Mark Zuckerberg Answers Critics Who Want to Break Up Facebook by Danielle Abril Risky Business? New Report Says Banks Are Holding More Real Estate Debt Than Thought by Rey Mashayekhi DECENTRALIZED NEWS To the Moon… Facebook’s GlobalCoin is coming . Transferwise doubles valuation to $3.5 billion . Goldman Sachs-backed Marqueta reaches $2 billion valuation . Mike Novogratz’s Galaxy Digital makes a handsome return in cashing out of Block.one . Robinhood opens for cryptocurrency trading in New York . Startup Zero raises $20 million for a debit-like credit card . AT&T is accepting cryptocurrency payments via BitPay . European Central Bank: “crypto-assets do not currently pose an immediate threat to the financial stability of the euro area .” Bitcoin for foreign aid ? Wall Street isn’t sold on Silicon Valley’s blitz-scaling unicorns . …Rekt. Circle lays off 10% of staff . Binance sues Sequoia Capital for reputational damage . IBM and State Street lose top blockchain execs. Uber and Lyft drivers artificially inflate surge pricing . Google stored passwords in plaintext . Snapchat employees spied on users . Real estate giant First American leaked hundreds of millions of mortgage-related documents . An engineering manager at BitGo lost $100,000 to a phone hacker . Young people aren’t saving their money because climate change . Breaker Magazine’s swan song . BALANCING THE LEDGER ☝Click to watch. In lieu of Balancing The Ledger , here’s a clip of Fortune’s Jen Wieczner hosting a debate about the investment prospects for gold vs. Bitcoin at the SkyBridge Alternatives Conference, or SALT , in Las Vegas earlier this month. The contenders were goldbug Peter Schiff, chief economist and global strategist at Euro Pacific Capital, who squared off against Bitcoin bull Barry Silbert, founder and CEO of Digital Currency Group (and recent guest on Fortune’s show ). Skip ahead to 3:42:40 for the interview . BUBBLE-O-METER 6,567% That’s the return early investors in Block.One, a much-hyped cryptocurrency startup and main developer of the EOS blockchain, are set to reap from an unusual buyback program, Bloomberg reports , citing a letter to shareholders. If someone bought $100,000 worth of Block.one shares less than three years ago, that stake would now be worth $6.6 million. Block.one is proffering $150,000 per share for up to 10% of its stock, valuing itself at about $2.3 billion, despite 2018’s market downturn and the company having no real product. MEMES AND MUMBLES Bend the knee. For the Game of Thrones fans here (if there are any left after that last season): Jerome Flynn, a.k.a. Bronn of Blackwater, is advising a cryptocurrency startup for vegans . Yes, you read that right. As Gizmodo jeered , “no we didn’t just throw darts at a wall covered in buzzwords.” Now if you’ll excuse me, I have to get back to recording myself lip-synching “Old Town Road” while busting out Fortnite dance moves on an electric scooter for my devoted TikTok following. FOMO NO MO’ Cracking the time capsule. In commemoration of the 30th anniversary of the World Wide Web, Ars Technica republished a 2011 retrospective tour of the earliest web browsers. Mosaic and Netscape were not the first attempts, even if they were the most successful (at least initially). It’s interesting to contemplate the origins of this crucial bit of technology as we look to the onset of “Web 3.0,” the next phase of Internet development, which is anticipated to involve decentralized services and, potentially, cryptocurrency. undefined We hope you enjoyed this edition of The Ledger. Find past editions here , and sign up for other Fortune newsletters here . Question, suggestion, or feedback? Drop us a line . || Bitcoin, Not Blockchain: People Feverishly Search for Worlds First Crypto: A ConsenSys report shows Bitcoin is king for most crypto-related searches around the world, but there are a couple of exceptions. | Source: Shutterstock By CCN : Around the world, the majority of searches related to cryptocurrency involve the word Bitcoin, a new report by ConsenSys concludes . Excepting a few Asian countries, most of the world wants to find information about Bitcoin. In the U.S., UK, Nigeria, Brazil, France, and elsewhere, roughly 70% or more of all crypto-related searches are for Bitcoin. Comparatively, Taiwan and Japan have an abiding interest in Ethereum, blockchain , and related cryptocurrency more broadly. Taiwan is reportedly more interested in "blockchain" than Bitcoin. Taiwan is reportedly more interested in blockchain than Bitcoin. Source: ConsenSys Japanese web surfers are more interested in Ethereum and Blockchain than most of the world. Source: ConsenSys Japanese web surfers are more interested in Ethereum and Blockchain than most of the world. Source: ConsenSys Key Markets for dApp Development ConsenSys , which was among the first companies to develop for Ethereum, needs the data to understand where key markets might be. While their report largely summarizes the data, the company goes out of its way to note the places with the most interest in its flagship blockchain: Countries in Asia like Japan and South Korea lead the world in interest for both Blockchain, and Ethereum and fittingly are developing a clued-in populous at the forefront of the blockchain ecosystem. Elsewhere in the world, countries like the United States and United Kingdom still represent strong Bitcoin dominance, although its Brazil that leads the pack in that regard. Bitcoin and blockchain are synonymous to many initially seeking information about cryptocurrency. While the two terms have essential differences, search spikes for any terms related to crypto generally coincide with gaining market trends. As well documented, one of the first efforts to dismiss the crypto movement was for various central bankers and pundits to preach blockchain, not Bitcoin. This was an attempt to display financial wokeness without embracing an exceedingly disruptive movement. A blockchain is not secure unless its base token has value enough to incentivize its security. Read the full story on CCN.com . || Bitcoin Prices Could Make Paying Taxes in Bitcoin Even More Attractive: Robert W. Wood is a tax lawyer representing clients worldwide from the offices at Wood LLP in San Francisco. He is the author of numerous tax books and writes frequently about taxes for Forbes, Tax Notes and other publications. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com . This discussion should not be regarded as legal advice. Bitcoin and other crypto prices have recently been highly volatile. If you are holding bitcoin or other crypto, you may well not want to sell until the market recovers, when it is down. But if you owe taxes and the crypto market is up, how about paying them in bitcoin (or selling bitcoin to pay your tax in dollars)? Selling may trigger tax losses that can be used next year, too. And in at least one American state, paying tax in bitcoin is a reality. In Ohio, you can now make state tax payments in bitcoin. It's only possible to pay in bitcoin, at present, but the permitted crypto should expand, according to OhioCrypto.com. Ohio beat out others in the United States, such as Arizona, Georgia, Utah and New Hampshire, where efforts to accept crypto for taxes failed. The transaction fee is zero during an initial three-month introductory period and then 1% thereafter. Even if you owe taxes to Ohio, that does not necessarily mean you qualify. So far, this is just for businesses operating in Ohio. If you operate a business in Ohio and have a tax bill, you can register at OhioCrypto.com. All payments are processed by third-party processor BitPay . Payments are converted to dollars before their deposit into a state account. Of course, its important to remember the only big missive the U.S. International Revenue Service ( IRS ) has given about crypto. Way back in 2014, the IRS ruled that cryptocurrency is property in Notice 2014-21 . That classification as property has some big tax consequences, accentuated by wild price swings. Story continues Related: How Crypto Is Taxed in the US: A Taxpayers Dilemma Volatility implications If you owe $10,000 in taxes, you could pay the $10,000 in U.S. dollars. If you pay with $10,000 worth of bitcoin, as long as the crypto is worth $10,000 when you pay, youre home free, right? Not really. You need to consider the sale you just made. The transfer of the crypto to the tax man is a sale, and that could mean more taxes for the year of the payment. If you bought the crypto for $10,000 the day you pay your taxes, theres no gain. But suppose you bought the crypto a year ago for $1,000 and its worth $10,000 when you use it to pay taxes? Thats right, you have a $9,000 gain. Hopefully, it is a long-term capital gain, which would make the taxes lower, at least for federal tax purposes. Remember, California taxes ordinary income and capital gain at the same high tax rates. So even capital gain does not save you tax money in California, except for being able to apply your basis. That is, when you sell a capital asset, you should not have to pay tax on the money you used to invest. If you actually tax in crypto, or sell crypto to pay tax in dollars, you still have taxes to pay because of your tax payment. You could trigger a tax loss too, if you had bought the crypto for $7,000 and transfer it for taxes when it is worth $5,000. These days, a sale might well trigger a loss, which you may be able to use. With crypto, of course, all sorts of transfers can trigger taxes. For example, payments using digital currency made to independent contractors are taxable transactions to both parties. The recipient has income measured by the market value at the time of receipt. Then, there are the reporting mechanics, which continue to be a big issue for many people. Reporting taxes in crypto If you are paying independent contractors with crypto, how do you report it? As with other payments to independent contractors, payers engaged in a business must issue IRS Form 1099 . You cant enter 1,000 bitcoins on the IRS Form 1099. Instead, you must value the payment in dollars, as of the time of payment. In short, a payment made using digital currency is subject to Form 1099 reporting just like any other payment made in property. Whats more, the person paying the independent contractor with crypto just sold it. Whether that triggers a gain or loss depends on the payer's tax basis. The gain might be capital or ordinary. If you hold it for more than a year, the best deal is long-term capital gain treatment. But actually, gain or loss depends on whether the digital currency is a capital asset in your hands. Most people can probably say they are investors in crypto, not a dealer or someone using it in their trade or business. But it is worth considering. Ordinary income vs. long-term capital gain treatment can spell a big difference. You might have to pay only 15% (to the IRS) on long-term capital gain. But the top long-term capital gain rates are 20%, plus the possibility of the 3.8% net investment income tax under the Affordable Care Act. Remember, every time you transfer crypto, you might trigger a gain or loss. The tax basis and holding period are important, as is record-keeping. If you receive digital currency as payment, you must you include its fair market value as income. Report the fair market value in U.S. dollars on the date you receive it. If you mine digital currency, you have income from mining , and the fair market value of what you produced is income. Happy planning. Related reading: 5 Cryptocurrency Tax Questions to Ask on April 15th Related Articles: Coinbase CEO Praises Privacy While Allegedly Blacklisting Anonymous Transactions Google Searches for Bitcoin Starting to Catch Up With $10K Euphoria Key Bitcoin Price Indicator Suggests $21,000 Fair Value By End Of 2019 'Where's the Gratitude, Peter Schiff?' - Gold Bug Gets Grilled By Bitcoin Proponents || Pay BTC, ETH and More with Apple Pay or Samsung Pay with Zeux - The World’s First Crypto Mobile-Payment App: PALO ALTO, CA / ACCESSWIRE / June 25, 2019 /Mobile phones give us power to do almost anything. As well as making and receiving calls, through our phones we can access the Internet, play games, listen to music, book an Uber and pay for things in almost all stores.
But the competition is fierce in the mobile space, with many business models being designed purely with one function and accessibility in mind - an app.
Apps allow businesses to be customer-focused and provide personalisation services to meet their needs. And one in particular, Zeux, has caught a lot of attention recently setting itself apart by integrating payments, banking and investments.
Zeux has launched its product at the right time. In a seamingly saturated market where we have the likes of Monzo, Revolut and Starling Bank widely used, Zeux has managed to address a real pain-point for everyday crypto users. So what makes this London-based fintech stand out from other competitors in the industry? It's capability to simplify financial services and provide fast and easy crypto payments.
Simplifying financial services
Similar to a digital bank, Zeux provides payments and banking services in both traditional and digital currencies - combining the best of both worlds.
Zeux has a fresh and integrated approach that gives its customers the ability to access the best traditional and digital investment opportunities, getting competitive returns, while being able to manage all their financial accounts with ease. Zeux offers 6% deposit interest rate for customers' crypto deposits in both BTC and USDT with no fixed term, so customers can take their money out at anytime. What's more, the product will be available for all customers around the world so everyone can take advantage of maximizing their assets from an FCA regulatory entity.
Fast and Easy Crypto Payments
Zeux has also revolutionised crypto payments for everyone. Rather than wait years for merchants to accept cryptocurrency, Zeux has put the consumer at the heart of its product and operations, and created a solution to allow them to pay with crypto in all stores that accept Apple Pay or Samsung Pay - and in just one click.
They have simplified the concept to allow customers to spend their cryptocurrencies - such as Bitcoin, Ethereum and other crypto tokens - like they would any traditional currency - such as GBP or USD.
So when the value of crypto is on the rise, it allows customers to take advantage, at any given moment, to make real-world purchases from their gains. Game changer.
Zeux has also signed with Coinbase, a crypto trading venue currently valued at $8 billion that generated $1.3 billion in revenue in 2018. This collaboration is a significant upgrade as Coinbase will function as a crypto-fiat gateway for Zeux's crypto payments.
What's more, Zeux charges no fees for payments, crypto-conversion or transfers giving maximum benefits for the consumer.
So in a world where mobiles are used for nearly every single aspect of life, Zeux has provided an innovative solution to multiple everyday issues. And with this new found accessibility, mass adoption of cryptocurrency is highly likely. Want to be on top of your game and master your financial future? Zeux has an app for that.
About Zeux
Zeux has just completed the presale of their token ZeuxCoin (ZUC) at the end of May, which gives holders cashback on crypto payments and reduced investment transaction fees, which raised 5000 ETH in less than 2 full days. Their token sale is live now on their website from 7 June - 5 July 2019.
Zeux is available in the UK oniOSandAndroid, launching across the rest of Europe later this year and the wider-world in 2020.
Website:www.zeux.techWhitepaper:Read their whitepaperTelegram Group:Join our communityTwitter:@ZeuxAppFacebook:Like and Follow Zeux's FB pageYouTube :View our channel
CEO : Frank ZhouEmail :frank.zhou@zeux.com
SOURCE:Zeux
View source version on accesswire.com:https://www.accesswire.com/549844/Pay-BTC-ETH-and-More-with-Apple-Pay-or-Samsung-Pay-with-Zeux--The-Worlds-First-Crypto-Mobile-Payment-App
[Random Sample of Social Media Buzz (last 60 days)]
$EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || @5dsTK8kvGjpU10v @binance_2017 https://t.co/Oulf2SsosS wow free mining mining 😯😲 monthly 0.00600000 auto bitcoin mining.. Click above link and put u r bitcoin address only.. Minimum withdrawal 0.00600000. Its real not fake. Try it || @Squawka Hi guys are you interested in Bitcoin Enterpriunship with Bitclub Network. || 【仮想通貨】劇的大暴落！フラッシュクラッシュに気を付けろ！ビットコイン https://t.co/UVN76FQmlB || 回転うまうまですね(^_^;)
もう今日はやめ
＃多分
＃BTC || #Business
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#criptomonedas
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https://t.co/xPWhGbnLpI || biraz sonra sıcak sıcak korelasyon raporunda dalga lı btc yükselişinde ve düşüşünde en çok hangisi btc ye korele paralel tepki vermiş bunları ayırt edip
btc yükselişinde en çok hangisi yükselecek ön görümüz olabilecek || Currently on round #9325 with 79/100 participants (0.10523954 BTC each) || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket
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Trend: up || Prices: 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84
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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)]
MicroStrategy Unit Gets $205M Collateral Loan From Silvergate to Buy Bitcoin: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. MacroStrategy, a subsidiary of MicroStrategy (MSTR), has received a $205 million term loan from crypto payments provider Silvergate Bank (SI). The loan was given through the Silvergate Exchange Network (SEN) Leverage program, which issues U.S. dollar loans using bitcoin as collateral. The loan was collateralized with about $820 million worth of bitcoin, according to a regulatory filing . Shares of MicroStrategy were flat during premarket trading. MicroStrategy, a software company, has become known more for its embrace of bitcoin. In the fourth quarter, the company took a nearly $150 million impairment charge on its bitcoin holdings because of the cryptocurrency's price drop. The interest-only loan is secured by a certain portion of bitcoin held in MacroStrategy’s collateral account, which has a custodian agreed upon by both parties. MacroStrategy can use the loan to purchase bitcoin or pay interest and fees related to the loan or for MacroStrategy’s or MicroStrategy’s general corporate needs. Launched in 2020, Silvergate’s SEN Leverage program had $570.5 million in commitments at the end of last year, according to the press release. “The SEN Leverage loan gives us an opportunity to further our position as the leading public company investor in bitcoin,” MicroStrategy CEO Michael Saylor said in the press release. “Using the capital from the loan, we’ve effectively turned our bitcoin into productive collateral, which allows us to further execute against our business strategy.” View comments || Why Crypto Scams Are Driving an Online Crime Boom — And How to Outsmart Them: Credit - Getty Images After two months, Tho Vu was infatuated. The 33-year-old customer service agent, living in Maryland, had met “Ze Zhao” through a dating app, and says she quickly began exchanging messages with him all day on WhatsApp. He seemed like someone she could rely on—he called her “little princess” and sent her reminders to drink enough water. By October 2021, despite never having met in person, they were talking about where to buy a house, how many kids to have, even how he hoped she’d do a home birth. “I want to take you with me when I do anything,” he said, in messages seen by TIME. “You are as important [to me] as my mother.” To fund their life together, Zhao pushed Vu to invest in Bitcoin. Vu was impressed by the cryptocurrency’s massive price gains. She was also reassured by Zhao’s suggestion that she buy her Bitcoin through Coinbase, an established U.S. cryptocurrency exchange, before transferring it to Zhao’s favored site. “Every time we did the trades he would repeat why we were doing it,” says Vu now. “It was always, ‘babe, we’re doing this for our future’.” Only when Vu tried to withdraw her gains did she realise that Zhao was a fiction—and so was that trading site. She’d been sending those tokens straight to a team of professional crooks. It was a so-called pig-butchering scam —also known as a crypto-romance—in which criminals spend weeks or months gaining victims’ trust. Vu says she lost about $306,000, including her investment and additional payments she was told were fees and taxes by the fake exchange. “That was one of the most traumatic events in my life,” says Vu. “Not only had I lost all my savings, but this future that I thought would be a new adventure—it was all a lie.” Tracking crypto Cryptocurrency scams, like the one that Vu fell for, are driving an online crime boom right now. Romance scams, investment scams, digital wallet hacks, pyramid schemes, ransomware attacks, and even digital art thefts—the methods may be different, but wherever you find a cybercrime victim, odds are good that crypto was involved. Story continues According to a report from the research firm Chainalysis , which tracks the movement of cryptocurrency across the internet, $14 billion worth of cryptocurrencies was sent to “illicit” wallet addresses last year, triple the amount for 2017. Those digital wallets may have been used for fraud, terrorism, or payments for child abuse material. There are so many crypto-romance victims that they have formed an advocacy group, the Global Anti-Scam Organization (GASO), which counts Vu as a member. Last year alone, GASO’s fraud reports added up to $73 million in losses. And when it comes to things like ransomware attacks, the damages add up quickly. In February, the Chicago financial firm Jump Trading sunk $320 million into bailing out its Wormhole crypto platform after a massive hack. Meanwhile, the rush of everyday investors into crypto has created a wealth of new targets. The challenges of recovering money in crypto scams Many people assume that cryptocurrency is so popular with criminals because tokens move anonymously. In practice, major digital currencies such as Bitcoin and Ether are actually very trackable. Every transaction is permanently recorded on a public blockchain—essentially a decentralized database. Although real names aren’t attached, criminals become vulnerable when they try to cash out their crypto into dollars, euros, or another traditional fiat currency. That’s because swapping crypto for fiat money requires an exchange such as Coinbase or Binance. These exchanges are regulated in many countries, including the U.S., and are required to collect information about their users. A warrant or court order could compel those exchanges to reveal those wallets’ owners. “I think there is a false sense of security among crypto-criminals about the difficulty of being traced,” says Ben Hamilton, a forensic investigator who tracks down financial crooks for the risk management firm Kroll. Indeed, the U.S. Department of Justice recently charged two people with laundering $4.5 billion worth of Bitcoin from a 2016 Bitfinex hack, having traced the coins through a complex web of transaction records. Investigators such as Chainalysis are monitoring the wallet addresses holding stolen funds from the Wormhole hack, meaning the culprits may struggle to cash out. Read more: Inside the Chess Match That Led the Feds to $3.6 Billion in Stolen Bitcoin The bigger problem is actually recovering the money. With fiat currency, international transfers often don’t actually move any funds—banks can simply adjust their records of who owns what, so transactions can be blocked or reversed. Blockchain transfers, on the other hand, are automated and almost impossible to tamper with. Tokens can be transferred across borders without any outside permission, and all transfers are totally irrevocable: if a scammer tricks a victim into sending them crypto, or gains control of someone’s wallet and sends their money elsewhere, there is no central institution to reverse the transfer. “My scammer just kept pushing me to buy Bitcoin,” says Vu. “With cryptocurrency he could be anywhere in the world and still get the money. With banking, it has an institution, it has a location.” Authorities—generally restricted by regional and national borders—struggle to keep up. Jan Santiago, deputy director of GASO, says police forces will often refuse to follow crimes outside their geographic area, and many barely understand what cryptocurrency is. “You have to go to the FBI level, but everyone’s going to the FBI, and the FBI is overwhelmed,” he says. (An FBI spokesperson declined to comment.) Chainalysis’ data suggests that crypto money laundering is highly centralized in a few lightly regulated countries, especially Russia, or in exchanges that obscure their location. That points to a need for international cooperation, says Mark Turner, a managing director in Kroll’s financial regulation unit. Turner argues that nations must agree on international standards for managing the flow of illicit crypto. Governments could regulate crypto wallets as they do bank accounts, allowing exchanges to blacklist specific wallets based on their compliance status, while banks could block transfers to and from questionable exchanges. Avoiding crypto scams In the meantime, crypto users will have to protect—and educate—themselves. “The naivety and ignorance of many people diving head-first in the crypto world is the biggest attraction to these scammers,” says one moderator of Reddit’s CryptoScams message board, which has seen an “exponential” rise in traffic over the past year. Con artists exploit the lack of safeguards in crypto infrastructure, often coaching victims through the process of giving away the so-called seed phrases that unlock their wallets. Many popular wallet services and crypto art marketplaces also do not offer multi-factor authentication, a common way of making digital accounts more secure. Another CryptoScams moderator, Luis Garcia, says a “culture of instant gratification” and feverish hype around new crypto projects leads to “irrational decisions.” He advises crypto users to never give out their seed phrases to anyone, and to never Google search the name of a legitimate service instead of typing in its URL directly (scammers sometimes buy ads at the top of search results for popular crypto sites in order to to lure you onto a dangerous fake site). Be careful who you trust, says Garcia, whether buying a wallet or using an exchange—and never let anyone else manage your money, especially if you met the way Vu met her scammer. “Beware of direct messages [DMs],” he says. “Being tricked in DM can cost you everything you own.” || reBLOCKmiami Puts the Right People in the Room, April 5, for a Real Estate Blockchain Conference in the Crypto Capital of the World: MIAMI, March 29, 2022 (GLOBE NEWSWIRE) -- via CryptoCurrencyWire -- Cutting Edge Events, organizers of Florida Bitcoin & Blockchain Summit, Crypto Mondays and the UnOfficial Bitcoin Miami Kickoff Party, is pleased to announce reBLOCKmiami , a one-day real estate blockchain event hosted April 5 in Miami, known as the crypto capital of the world. Those who attend reBLOCKmiami will learn about timely topics in sessions and presentations, including Real Estate Blockchain, Real Estate Tokenization, Real Estate NFTs, Real Estate Liquidity DAOs, Regulatory Updates, DeFi Real Estate, Real Estate Fintech Startups, Tradeable Private Real Estate and Buying Property in the Metaverse. For tickets, visit https://reblockmiami.com/tickets/ . reBLOCKmiami was born out of the Florida Bitcoin & Blockchain Summit. This epic event was specifically designed to bring the right people in the room from the real estate world, including developers, brokers, agents, financiers, startups, traders and policymakers. In addition, the gathering will bring stakeholders in the real estate blockchain space from around the globe to the crypto capital of the world. Previously, this event has been attended by Cathie Wood of Ark Invest; Jeff Vinik, owner of the Tampa Bay Lightning; Finance Commissioner of Florida Russ Weigel III and many more notables. Associations taking part in reBLOCKmiami are the Florida Blockchain Business Association (FBBA), Foundation For International Blockchain and Real Estate Expertise (FIBREE), and the Miami Downtown Development Authority. The conference is tailored to fit the needs of three types of attendees: Beginners looking to learn and build their knowledge of this industry and how to get started in it; Stakeholders like financial institutions, traders, brokers, family offices, fintech startups, innovators and entrepreneurs who play, or want to play, an active role in the future of the real estate blockchain and its development; Advocates including anyone interested in propelling this space forward and helping design active safeguards that allow for a fair and even playing field. Story continues Speakers and presenters at reBLOCKmiami will include Samuel Armes, Florida Blockchain Business Association; Jason Bennick, president of Digital Innovation Group; Elena Bondarenko, Government Relations Counsel, Miami Downtown Development Authority; Michael Carpentier, CIO Certified Blockchain Professional and CEO of Vesta Equity Inc., and many more. reBLOCKmiami will take place at the Hilton Miami Blue Lagoon, four miles from Miami International Airport and just 15 minutes from downtown Miami and Dolphin Mall. South Beach, Zoo Miami and cruises from PortMiami are half an hour away. The hotel features sports courts, bike and car rental, a fitness center and a hot tub. Guests can enjoy a dip in the outdoor pool and a drink at the pool bar. The relationships created and the wisdom imparted at this pioneering event will have a far-reaching impact within the real estate space. For more information on reBLOCKmiami, visit https://reblockmiami.com/ . About Cutting Edge Events LLC Specializing in new media and tech-driven conferences, Cutting Edge Events LLC has earned back-to-back Guinness World Record™ titles for the largest attendance of a virtual podcasting conference in one week. Creators of Podfest Multimedia Expo, Podfest Global Summit and Vidfest Expo, the team behind this cutting-edge events company is excited to bring its expertise and unique style to blockchain and bitcoin influencers. Corporate Communications CryptoCurrencyWire (CCW) New York, N.Y. www.CryptoCurrencyWire.com 212.994.9818 Office Editor@CryptoCurrencyWire.com || Pegasys DEX Soars Atop Syscoin: EINDHOVEN, NETHERLANDS/ ACCESSWIRE/ February 18, 2022 /The mission at Syscoin is to continually push blockchain technology forward. This is accomplished by combining the best of Bitcoin and Ethereum into one platform and achieving technological breakthroughs, which invite wider adoption. That is why the project is happy to introducePegasys, the firstDEX(Decentralized Exchange) andAMM(Automated Market Maker) to run natively atop theSyscoin NEVM.
2022 is already a momentous year for the Syscoin Platform, because it will feature the imminent implementation of ZK-Rollups followed by Validium later on, thereby bringing to completion the three phase NEVM. Beyond the tech that makes everything possible, many moving parts are falling into place that makes the project a serious contender in theDeFispace as the project continues to form new partnerships.
Pollum is the organization behind Pegasys, who has been working together for a while now. They have been instrumental in making the roadmap a reality and the key team behind Syscoin's officia lPali Wallet. They share the same vision for the heights Syscoin will reach, and the joint contributions will bring about the infrastructure and dapps needed to bring it to fruition.
The founders of Pegasys have an established history of contributing value to the Syscoin ecosystem through past projects they've developed and managed. They are very familiar with the mindset and goals of Syscoin, and strongly align with them. The Syscoin Foundation is very happy that the Pegasys team has led the charge and that they are now delivering what we consider to be Syscoin's native DEX and AMM, on NEVM Layer 1. We're excited to see how they innovate Pegasys even further as we go into the future.
-Bradley, Syscoin Foundation board member
Pegasys builds on the advancements of Uniswap, which are only furthered when combined with the inherent advantages of Syscoin, which include extremely low fees and increased security when compared to purely Ethereum-based systems. Yet, this is only on Phase 1 of the Syscoin NEVM, whereas Phase 2 will massively increase speeds and Phase 3 will make them untouchable.
DeFi and Syscoin users alike will feel right at home on the Pegasys exchange, because beyond its architecture, Pegasys will offer the services DeFi users are accustomed to, including ways to earn passive income with a lower barrier to entry than what it takes to run aSyscoin masternode. Aside from SYS, Pegasys users will also be able to earn its very own native crypto token, PSYS, which serves as the core currency of theDAOthey have constructed.
Pegasys will be the first-mover dapp built entirely on Syscoin, so our ambition is to make it a rock solid protocol that also offers proper development support so others can build on top of it and create new possibilities. We have a bold roadmap to keep the product fresh and continuously evolving. We at Pegasys invite all Syscoin supporters to join us in building the DAO by taking part in our community.
-Kaue, Pegasys Strategy
About Syscoin
Syscoin is a decentralized and open-source project founded in 2014 whose NEVM combines the best of Bitcoin and Ethereum in a single coordinated platform.
Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true L2 scalability via ZK-Rollups taking place on a singular platform, Syscoin, is ushering in the next step in the evolution of blockchain technology.
Website|Discord|Telegram|News|Github|Facebook|Twitter|Instagram
About Pegasys
Pegasys is the first decentralized exchange built entirely atop Syscoin. As a DAO, it offers its native token, PSYS, as an incentivization device and means of governance. As a result of its design, Pegasys is able to offer far lower fees than its Ethereum-based competitors while also keeping security a top priority. Pegasys inherits the interoperability of the Syscoin NEVM, which also makes it an ideal DEX for trading ERC-20s as well as Syscoin-based tokens.
Website|Twitter|Discord
Media Contact
Michiel
Email -michiel@syscoin.org
PR - Cryptoshib.com
Email -info@cryptoshib.com
SOURCE:Syscoin
View source version on accesswire.com:https://www.accesswire.com/689431/Pegasys-DEX-Soars-Atop-Syscoin || 40% of Crypto Investors Don’t Know They’re Required To Pay Taxes — What Else Are They Forgetting?: The tax filing deadline – April 18 – is looming, but manycrypto investorsseem to be ill-prepared to file taxes on their earnings, according to a new survey. This knowledge gap can lead to inaccuratelyfiled tax returns, potentially resulting in crypto investors paying too much or too little in tax.
Discover:9 Bills You Should Never Put on AutopayMore:8 Best Cryptocurrencies To Invest In for 2022
The new survey, by CoinTracker, finds that a staggering 40% of U.S. crypto investors don’t even know paying taxes is required for selling cryptocurrency for fiat currency — and 48% did not know that selling or trading an NFT is a taxable event. More surprisingly, 96% of respondents had not filed their tax returns as of March 27, 2022, possibly because of the widespread confusion surrounding crypto taxes, the survey found.
CoinTracker’s head of tax strategy, Shehan Chandrasekera, told GOBankingRates the fact that 40% of the crypto-investing population didn’t know about the tax obligations when cashing out is surprising. “I would say lack of education and awareness related to crypto taxes are arguably the main contributing factors,” Chandrasekera said.
The survey also found that when it comes to calculating taxes on their cryptocurrency activities, an overwhelming 84% of crypto investors are not completely confident that they know all they need to.
“Cryptocurrency taxes are complicated, and especially trying to do them by hand without the support of crypto tax software is a daunting challenge,” Chandrasekera said. “It’s therefore not surprising that the vast majority of cryptocurrency users are unprepared to file their taxes.”
Given a list of possible cryptocurrency situations that require paying income tax, just 3% of those polled got all answers correct, leaving 97% with at least one wrong answer. For example, 58% don’t realize they need to pay taxes when trading one type of cryptocurrency for another, or when using cryptos to buy a good or service or service (64% of respondents got this latter question wrong).
Chandrasekera explained that one of the most important things for crypto investors to know is that cryptocurrencies are taxed as property by the Internal Revenue Service (IRS).
“This guidance has been out since 2014. If you have any taxable events, you should report them on your taxes accurately and pay taxes. If you have cryptocurrency losses, you can claim them on your taxes and receive a higher refund in some cases,” Chandrasekera said.
Common taxable events include: cashing out crypto, crypto-to-crypto trades, spending crypto to buy goods and services, earning crypto (wages, interest, staking, mining income) and crypto airdrops.
In terms of the most common difficulties for crypto investors, it’s that they have a responsibility to reconcile their crypto activity across exchanges and wallets and calculate the correct capital gains or losses.
“This is often a very difficult task to do manually due to various reasons,” Chandrasekera said. “It is virtually impossible for an average taxpayer to keep detailed records of all the data required to file accurate tax forms. To correctly file tax forms, they need to know the purchase date of each coin, sale date of each coin, name and the quantity of each coin they sold, how much they paid for the coin (cost basis) and the market value at the time they sold the coin.”
He added that investors also have to know the right tax rules to apply for somewhat complex crypto transactions such as airdrop, staking or lending.
Mark Homza, co-CEO and co-founder of Funday, told GOBankingRates that when it comes to tax planning for cryptocurrencies it’s no different from a capital gains tax on your public equity investments.
“The pandemic increased the volume of retail investors participating in the public market, many of which traded for the first time and had to adapt to new tax implications,” Homza said. ” It’s a learning curve no matter which market you enter for the first time, but there are a few upsides to cryptocurrency investing. In relation to tax implications, while you will be taxed if you transfer your crypto to another or choose to lock in your gains, if you choose to store earned capital on an exchange or in a digital wallet your crypto investment will not be taxed.”
He added that despite tax implications, cryptocurrencies allow a larger volume of the global population to participate in the market — and to access an array of new portfolio diversification opportunities.
See:Crypto Ownership: How Inflation, Regulation and More Led to Meteoric Rise in 2021Find:Crypto Fund Says It Has Outperformed Bitcoin for Five Years
“As regulation becomes more clear aroundcryptocurrenciesand new investors begin to familiarize themselves with the nuances of the digital assets space, tax parameters and activities will become far more understood and seamless,” he said.
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This article originally appeared onGOBankingRates.com:40% of Crypto Investors Don’t Know They’re Required To Pay Taxes — What Else Are They Forgetting? || Has yuan become Russia's new dollar?: Russia could use the Chinese yuan to bypass the crippling sanctions imposed by the west. Photo: Reuters (Florence Lo / reuters) Russia could use the Chinese yuan to bypass the crippling sanctions and SWIFT payment ban imposed by the US and its allies . One rouble now buys less than one US cent, causing ordinary Russians to flock to stores of value such as gold and bitcoin ( BTC-USD ) to protect themselves from the fallout. As Putin's armoured divisions roll closer to Kyiv, his country's economy rolls closer to the abyss, and speculation has grown that Moscow will resort to using cryptocurrencies as a financial back-channel. However, there is simply not enough volume and liquidity within crypto markets to offset the disruption that sanctions will have on the Russian economy. This leaves the Kremlin with another option: to use the Chinese yuan and Beijing's CIPS international payment system for cross border trade. Disconnecting Russia from world finance could thus create an unwanted side effect for the west, the birth of a new global economic system based upon the Chinese yuan. Read more: 'Crypto lobby groups are dictating terms in Washington' Steve H Hanke, professor of applied economics at Johns Hopkins University, told Yahoo Finance UK that "disconnecting Russia from the dollar-based system won't have much of an impact on the dollar initially, but in the long run it might be a different matter". The senior economist added that the act of removing Russia from the SWIFT dollar-denominated international payments system “has weaponised and contaminated SWIFT”. "This will make room for challengers to the dollar-denominated international system." Read more: Steve Hanke: The value of bitcoin is probably zero The major challenger is China's Cross-border Interbank Payment System, or CIPS. China’s competitor to the dollar-based SWIFT system was created in 2015 and currently only handles a fraction of the international claims settlements that are completed by the SWIFT system. But this imbalance could begin to tilt in China's favour if Russia is forced to rely upon it for international trade. Story continues Watch: Digital currencies: China will get there first, says Hammond State media in China likened the SWIFT ban on Russian banks to “a financial nuclear weapon”, but also welcomed it as an opportunity for Beijing’s CIPS. Hanke said the recent political interference with SWIFT was “accelerating the development and use of CIPS, regardless of whether Russia utilises it or not". Russian reliance upon CIPS will allow China to develop the yuan's use outside the country’s borders. Chinese president Xi Jinping's pet infrastructure project, the Belt and Road Initiative, has also helped to introduce the yuan overseas. But Steve Tsang, director of the SOAS China Institute, said that there is still only marginal use of the yuan and it is "still nowhere near being a global currency". "While Russia will make more use of the yuan, the yuan cannot replace the dollar as the global currency as full convertibility is required for any currency to be accepted as a full global currency or a major reserve currency.” The Chinese government is unwilling to allow the yuan to be freely traded in case they lose control over its value. Read more: Ukraine to sell NFTs to fund war costs In the past, Beijing has been accused of strict mercantilism, after claims that the yuan was being artificially undervalued against the US dollar to give Chinese exports an unfair price advantage. Geopolitical analysts are anxious about the future, as Hanke suggests that sanctions have a record of failing to meet their desired objectives. He said that the full economic isolation of Russia could create a "nightmare scenario in which an 'enormous North Korea' emerges, one with nukes". Tsang sees signs the world is on a trajectory towards a new Cold War in which "Russia and its close allies will form one bloc and the democracies led by the west forming another". However, he added that China will maintain a cautious approach that will be pragmatic for its own interests and avoid "attracting secondary sanctions against Chinese institutions". Anders Corr , publisher of the Journal of Political Risk, reinforced the view that sanctions against Russia would “drive the country towards China’s economy, through which it will have to do most of its business until the sanctions are lifted”. Corr believes Russia’s tilt towards China will give Beijing immense bargaining power. Read more: Can you live in London for 24hrs using only bitcoin? He said that Moscow “may in future have to accept contracts denominated in yuan or even a 10% discount for its exports compared to world market prices”. Beijing would certainly welcome the increased trade in much needed Russian commodities at record low prices. Russia is already running a trade surplus with China, with major exports of oil, gas, coal and wheat being channelled towards its resource southeastern neighbour. Chinese state banking regulators have already made it clear they will continue to maintain normal economic and trade exchanges with Moscow. If Moscow begins to use CIPS it would further Beijing’s ambitions to slowly erode the world's dollar-dominated financial system. Xi Jinping may well welcome Putin’s commodities in exchange for Chinese yuan and both autocrats could walk hand in hand down the road to “de-dollarisation”. Watch: Steve Hanke responds to Milton Friedman's cryptocurrency predictions || US Crypto Policy Delayed Due to Disagreement Between Biden and Yellen: An executive order by President Joe Biden to give the federal government a bigger hand incryptocurrency policywas delayed following a disagreement between the White House and Treasury Secretary Janet Yellen over how big a role the government should play.
See:10 Cheap Cryptocurrencies To BuyFind:Bitcoin and Crypto Taxes in 2022: What You Need To Know
The Biden administration had hoped to sign the order at the beginning of the year, Bloomberg reported. But disputes between Yellen’s staff and officials on the National Economic Council have slowed its progress, according to anonymous officials who spoke with Bloomberg. Senior administration officials have finished a draft version for Biden, but for now, much of his focus is on tensions between Russian and Ukraine.
The executive order is designed to provide a comprehensive government strategy on cryptocurrency. It would give the White House a central role overseeing policies and regulation regarding digital assets, according to a CoinDesk report last month citing an unnamed Bloomberg source.
The order would also seek input from different federal agencies — including the Office of the Comptroller of the Currency, the Securities and Exchange Commission and the Commodity Futures Trading Commission — over how the crypto industry should comply with federal law.
In addition, the order might lead to the establishment of a digital dollar issued by the Federal Reserve, Bloomberg noted. That’s a particular point of contention between the White House and Yellen’s staff, who aren’t convinced an executive order is necessary.
See:5 Biggest Mistakes To Avoid When Filing Taxes for CryptoFind:Coinbase Crashes After ‘Crypto Bowl’ Ad, Stock Dips Then Rebounds
Meanwhile,federal regulation of digital assetsremains murky, which is one reason the White House has felt pressure to come up with a comprehensive cryptocurrency policy. Leaders in the crypto industry have been particularly concerned about a lack of clarity when it comes to federal rules governing digital assets.
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This article originally appeared onGOBankingRates.com:US Crypto Policy Delayed Due to Disagreement Between Biden and Yellen || Do Penny Stocks Ever Make Money? Here Are 7 Success Stories: Advanced Micro Devices (NASDAQ: AMD ): A former penny stock that turned insanely profitable, became a $100 stock in less than five years BBQ Holdings (NASDAQ: BBQ ): Stock rose from $1.65 per share lows to nearly $20 as profits started trickling in Syndax Pharmaceuticals (NASDAQ: SNDX ): A cancer drug developer whose recent licensing revenue catapulted it to profitability… and out of penny stock trading ranges VAALCO Energy (NYSE: EGY ): Rode on oil price surges to profitability Digital Turbine (NASDAQ: APPS ): Generated a 4,000% return in five years as sustained sales growth made operations profitable eXp World Holdings (NASDAQ: EXPI ): Penny stock in 2017, started making money in 2020 and hit a 52-week high of $55 in 2021 The Joint Corp. (NASDAQ: JYNT ): Broke into profitability in 2018 and has grown earnings ever since. Penny stocks may be notorious for their extreme volatility and high investment risk; however, several penny stock success stories still encourage aggressive growth-oriented investors to make small capital allocations to the speculative investments due to their potential to offer life-changing returns in the shortest times possible – especially if the small companies finally start making sustainable profits. Most penny stocks are companies with poor fundamentals. They are largely small, unprofitable businesses that burn shareholders’ capital, little companies with unproven business models and sometimes include companies headed for bankruptcy. However, their fortunes change dramatically once they start showing signs of sustainable profitability. The essence of every commercial business is to make money — and several former penny stocks that used to trade below $5 a share have historically graduated and grown into multi-billion-dollar businesses that offered early investors huge capital gains once they started showing a capacity to make money and to generate positive cash flow from operations. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Story continues Actually, some of the former penny stocks on my list became $100 stocks or better once they turned profitable. Not only did the companies make money; they gifted their faithful investors with sizeable returns during the transition and many continue to offer significant upside today as profits grow. As a long-term oriented investor, five years is a fairly long enough period for a company to start showing some capacity to earn money sustainably and win over investors’ hearts. 7 Desirable Dividend Growth Stocks for Income Investors Below is a curated list of seven penny stock success stories that made money and rewarded early investors handsomely during the past five years or so. AMD Advanced Micro Devices $101.00 BBQ BBQ Holdings $15.50 SNDX Syndax Pharmaceuticals $17.51 EGY VAALCO Energy $7.52 APPS Digital Turbine $38.82 EXPI eXp World Holdings $16.90 JYNT The Joint Corp. $34.13 Penny Stocks Success Story: Advanced Micro Devices (AMD) Advanced Micro Devices (AMD) billboard showing two of its popular product lines, Ryzen and Radeon. Source: Joseph GTK / Shutterstock.com It seems unbelievable that investors could buy Advanced Micro Devices stock at prices below $5 a share just six short years ago. Actually, shares in the micro-chip and semiconductor giant changed hands at prices between $2 and $5 a share between late 2012 and July 2016 before finally breaking out of penny stock territory completely just over five years ago. The rally in AMD stock came as the company reorganized its business, outsourced chip manufacturing and started gaining ground against industry leader Intel (NASDAQ: INTC ). The company’s income statement has seen dramatic improvements over the past six years. AMD’s $4.3 billion in sales produced a near $500 million net loss in 2016 before a $5.3 billion revenue in 2017 narrowed the annual loss to $33 million the following year. The company invoiced $6.5 billion in sales and made $337 million in profit in 2018. Fast forward to 2021 and AMD’s sales topped $16.4 billion while earnings surged to $3.2 billion for the fiscal year. AMD stock is one of the perfect penny stock success stories one can think of today. It’s now a $100 stock and generated over 670% in investor returns over the past five years. BBQ Holdings (BBQ) Source: Brad Moon Restaurant operator BBQ Holdings has company-owned and franchise-operated restaurants located in the United States, Canada, and the UAE. Famous Dave’s Bar-B-Que is one of the more, um, famous of its brands. BBQ Holdings stock used to trade below $5 for most of 2019 and touched a low of $1.65 in April 2020 during a COVID-19 induced market crash. The company usually reported losses since 2015 before unusually bouncing to profitability at the end of 2020. Shares broke out of penny stock trading ranges and took off in January 2021 to hit a multi-year high of $19.75 as revenue growth returned to restaurant operators after eased pandemic regulations. Sales surged by 53% last year. Wall Street analysts expect BBQ to grow sales by 40% in 2022. Earnings per share (EPS) could rise to $1.16 this year before reaching $1.40 per share next year. 7 Chip Stocks Keeping the Tech Sector Running Investors saw BBQ stock generate a 330% return over the past five years as the company graduated from a loss-making penny stock to profitability during the period. Penny Stocks Success Story: Syndax Pharmaceuticals Inc. (SNDX) a scientist with protective equipment and microscope in a lab Source: luchschenF / Shutterstock.com Syndax Pharmaceuticals went public during the first quarter of 2016 as a clinical-stage biopharma developing cancer therapies. SNDX stock struggled during a lengthy development cycle and shares traded at $3.63 per share by Dec. 21, 2018, as losses mounted and a lengthy drug development cycle gobbled shareholders’ capital. Back in 2018, Syndax reported a $76 million loss from operations from annual revenue under $2 million. Operating cash flow was a negative $69 million and the company continually issued common stock to fund operations. Remarkably, a new licensing agreement with Incyte grew annual revenue from $1.5 million in 2020 to $139.7 million in 2021. Syndax reported a $24.9 million net profit for 2021 . Earnings per share increased from a $1.87 loss in 2020 to a $0.48 profit in 2021. SNDX stock has returned 418% in capital gains since Dec. 21, 2018, to date. It’s another penny stock that successfully made money. VAALCO Energy (EGY) miniature oil barrel and oil well figures on top of stack of money Source: Shutterstock VAALCO Energy is an oil and natural gas stock that finally graduated from penny stock trading ranges this year. The company has oil and gas interests in Gabon and Equatorial Guinea and its emerging market exposure could have amplified equity risks to its profile since it went public 30 years ago. Like most other oil plays, EGY’s revenue and earnings are extremely volatile. Revenue declined from $128 million in 2014 to hit a low of $69 million in 2016 as oil prices nosedived. However, 2021 was a bumper year as annual sales of $228 million produced a net profit of $82 million. 7 Desirable Dividend Growth Stocks for Income Investors EGY stock is no longer a penny stock in 2022 as oil prices printed record highs. VAALCO Energy stock has rewarded investors with a 218% return over the past 12 months as shares exchanged hands above $7.20 at the time of writing. Oil price growth helped the former penny stock to make money. Penny Stocks Success Story: Digital Turbine (APPS) Close up hand holding mobile with Digital Advertising and icons, Digital Marketing concept. Source: weedezign via Shutterstock Mobile content advertising and monetization specialist company Digital Turbine is one of the most recent penny stock success stories investors will love in 2022. APPS stock has generated a 4,144% return over the past five years as the company graduated from a penny stock in 2020 and never looked back. Digital Turbine used to be a perennial loss-making penny stock. The company reported millions in losses each calendar year since 2012. However, shares steadily rose from under $1 a share in 2017 to briefly breach the $5 mark in late 2019 as revenue growth promised to usher APPS into profitability someday. Accelerated sales growth to $258 during the calendar year 2020 produced $39 million in net earnings and some acquisitions powered 142% year-over-year surge in fiscal fourth-quarter 2021 sales pushing Digital Turbine to a $1 billion revenue run-rate and profits surged. APPS earned $81 million from operations and reported GAAP net earnings of $46 million during the past 12 months. eXp World Holdings (EXPI) a large house has a For Sale sign out front Source: Shutterstock Cloud-based residential real estate brokerage company eXp World Holdings is another penny stock success story investors can reference. EXPI was just a loss-making penny stock trading way below $5 a share by October 2017. Phenomenal revenue growth saw eXp sales increase from $156 million (and a $22 million operating loss) in 2017 to $500 million (and another $22 million operating loss) in 2018. The company successfully narrowed its operating losses to $9 million in 2019 before finally breaking into profitability in 2020. The tech firm reported its first operating profit in 2020 as revenue nearly doubled to $1.8 billion from $980 million in 2019. A further 103% sequential increase in sales to $3.8 billion in 2021 earned the company some $34 million in operating earnings and a GAAP net profit of $81 million last year. 7 Chip Stocks Keeping the Tech Sector Running To be sure, watching EXPI stock fall almost 33% in the last three weeks should raise investor eyebrows. Short interest has been on the increase since December, at 10.9% as of March 15. And just last week the company came under scrutiny from short-selling blogger Edwin Dorsey, writing in The Bear Cave newsletter. He questioned the company’s accounting practices, high insider selling and its recruiting pipeline. Penny Stocks Success Story: The Joint Corp. (JYNT) A concept image of a doctor holding up an X-Ray. Source: Shutterstock The Joint Corp. operates and manages chiropractic clinics across the United States and has been growing its annual revenues steadily over the past five years. The Joint Corp. used to be a penny stock until shares closed above $5.10 on Jan. 22, 2018. A massive rally that ensued late in 2020 saw JYNT stock price breach the $100 mark by September 2021. Although shares have given up most of their recent gains, Joint stock has returned over 800% over the past five years. The massive returns on Joint stock materialized as the company’s steady organic growth successfully ushered it into significant profitability by 2018. Steady revenue growth over five years from $25 million in sales in 2017 to $81 million in revenue in 2021 allowed Joint to report a $3.3 million operating profit in 2019 before posting record net profits during the COVID-19 pandemic in 2020. Wall Street analysts see a further 26.8% growth in revenue this year, followed by a 26% uptick in sales next year. Net income could double between 2022 and 2023 as living proof that penny stocks can make money — and sustainably so. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. On the date of publication, Brian Paradza owned Advanced Micro Devices (AMD) common stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Brian Paradza is an investing enthusiast who was awarded the CFA Charter in 2019. A strong believer in fundamentals-based long-term investing, Brian learns from gurus like Warren Buffett but acknowledges human behavioral tendencies that drive short-term “madness”. You may find him inquisitive as he examines tech investing opportunities, cannabis, blockchains, and the new cryptocurrencies asset class. 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 Do Penny Stocks Ever Make Money? Here Are 7 Success Stories appeared first on InvestorPlace . || EU Parliament Passes Privacy-Busting Crypto Rules Despite Industry Criticism: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
European Union lawmakers voted today in favor of controversial measures to outlaw anonymous crypto transactions, a move the industry said would stifle innovation and invade privacy.
More than 90 lawmakers voted in favor of the proposal, according to documents seen by CoinDesk.
The proposals are intended to extend anti-money laundering (AML) requirements that apply to conventional payments over EUR 1,000 ($1,114) to the crypto sector. They also scrap the floor for crypto payments, so payers and recipients of even the smallest crypto transactions would need to be identified, including for transactions with unhosted or self-hosted wallets. Further measures under discussion could see unregulated crypto exchanges cut off from the conventional financial system.
National governments said in December they wanted to scrap theEUR 1,000 thresholdfor crypto, on the basis that digital payments can easily circumvent the limit, and to include private wallets that aren’t operated by regulated crypto asset providers.
Members of the center-right European People's Party (EPP) opposed many of the more controversial changes, condemning what they called a “de facto ban of self-hosted wallets.”
“Such proposals are neither warranted nor proportionate,” said EPP economic spokesperson, Markus Ferber, in an emailed statement Thursday. “With this approach of regulating new technologies, the European Union will fall further behind other, more open-minded jurisdictions.”
A separate legal proposal also discussed today would stop transfers being made to “non-compliant” crypto service providers, which includes those operating in the EU without authorization or that are not affiliated to or established in any jurisdiction.
The Thursday vote came in spite of objections from major industry participants, such asCoinbase, and from legal experts who warned that overly heavy handed privacy violations could face legal challenges in EU courts.
Under the new rules, Coinbase would have to report to the authorities any time a customer received over EUR 1,000 of crypto from a self-hosted wallet, the exchange’s CEO Brian Armstrong warned in atweet posted Wednesday.
The plans must also be agreed on by both the parliament and national ministers, who meet as the EU Council, in order to pass into law.
Bitcoin's price dropped about 2% in minutes as the vote came through, falling from $47,500 to $46,400.
Read more:Crypto Privacy Positions Harden Ahead of Crunch EU Vote
UPDATE (March 31, 2022, 14:35 UTC):Adds vote result.
UPDATE (March 31, 2022, 17:35 UTC):Adds tally of votes. || As Russia invaded Ukraine, bitcoin plunged here's what Sam Bankman-Fried, Michael Saylor, and other top voices in crypto had to say about it: Russia invaded Ukraine Thursday, shelling key strategic targets. Vadim Zamirovsky/AP Bitcoin and other cryptocurrencies sank as Russian forces invaded Ukraine this week. The conflict raised questions about bitcoin's role as a haven, a tool for the unbanked, and an authority-free zone. Here's what Sam Bankman-Fried, Michael Saylor and three other top voices in crypto had to say. Russian forces attacked Ukraine from several directions Thursday, starting a large-scale invasion that had been brewing for days. Financial markets reeled and cryptocurrencies tumbled as investors sought out safe-haven assets . Bitcoin fell to its lowest in weeks, and strategists said it could drop to $30,000 if the crisis worsens. That raised questions about bitcoin's role as a haven asset, a resource for the unbanked, and an authority-free zone. Here's what five leading voices in crypto had to say about it. Bitcoin bull Michael Saylor "Nation state conflicts create uncertainty, constrain production, weaken currency, cripple trade, and undermine credit, making investments in debt & equity riskier and underscoring the benefit of converting treasury assets into pure digital energy Bitcoin," the MicroStrategy CEO said in a tweet . "Wars create inflation, cripple commerce, and make bitcoin compelling," he added . Crypto billionaire Sam Bankman-Fried "What should BTC be doing here? Well, on the one hand, if the world gets shittier, people have less free cash. Basically, selling BTC along with stocks, etc. to pay for war," the CEO of crypto exchange FTX tweeted. "On the other hand, this is likely destabilizing for Eastern European currencies. And, more generally, for Eastern European financial systems. Which means they might be looking to alternatives. If you were in Ukraine right now, where would you trust your money?" "So there are arguments both ways for what should be happening to BTC right now. I'm not really sure I would have guessed it would go down, based on the fundamentals." "There's a push and a pull, with fundamental investors buying and algorithmic investors selling; on net, BTC ends up halfway in between, down 8% on the day." "But I also think we're probably in a new regime than we've been in the last year and a half. We'll have to see how things work here." Cardano founder Charles Hoskinson "People often say that I shouldn't wade into politics. And I keep reminding people the core of who we are as an industry is political, because our fight isn't about a particular token having a higher price over another token," Hoskinson, also a cofounder of ethereum, said on YouTube . Story continues "Our fight is ultimately one of liberty and freedom to give people the power to be their own institutions, to be their own bank. To verify what previously could not be verified, whatever that might be." 'Wolf of All Streets' crypto trader Scott Melker "Bitcoin is a crappy tool for criminals but a brilliant one for charity and donations," Melker tweeted as bitcoin donations to Ukraine's army surged . Anthony Pompliano, cofounder of Morgan Creek Digital "The United States has to start considering what to do in a world where a large portion of the world doesn't use the US dollar as their reserve currency," the host of The Pomp Podcast said in a Substack post . "The hypothetical situation would see Russia and China, who have long publicly stated their intention to get off the US dollar system, decide that the costs to using the current global reserve currency has become too high." "This game theory leads us to bitcoin. The next best option to being the producer and distributor of the global reserve currency is to be the most advanced user and holder of a global reserve currency that no single country controls." "That incentive leads these superpowers to realize that bitcoin will be essential for decades to come. The countries that have a large ownership stake, along with conducting mining and other pro-bitcoin activities within their country, will have a significant advantage." Read more: A Wall Street veteran weighs in on why escalating Russia-Ukraine tensions are unlikely to delay the Fed's hawkish campaign to raise rates and shares 3 commodity-based strategies to leverage in this environment Read the original article on Business Insider View comments
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 40826.21, 41502.75, 41374.38, 40527.36, 39740.32, 39486.73, 39469.29, 40458.31, 38117.46, 39241.12
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Random Sample of News (last 60 days)]
MicroStrategy posts Q1 revenue loss amid falling Bitcoin price: MicroStrategy Inc., the world’s largest corporate holder of Bitcoin, reported a total revenue ofUS$119.3 million in Q1, a 2.9% year-over-year decrease.
See related article:Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High
• As of March 31, MicroStrategy’s 129,218 BTC under management had a carrying value of US$2.896 billion and a total market value of US$5.893 billion, representing a cumulative impairment loss of US$1.071 billion.
• At the time of the report, MicroStrategy’s Bitcoin had an average cost of approximately US$30,700 and a market price of US$45,602.79.
• Bitcoin’s price has fallen roughly 17% from that time, however, meaning the current total market value would be much lower, at roughly US$4.878 billionat press time.
• MicroStrategy(MSTR) closed down 6.15%on the Nasdaq on Wednesday, and fell 0.70% after hours, as of press time.
• MicroStrategy added4,167 BTCin its latest cryptocurrency shopping spree between February and April, using a loan against its existing Bitcoin holdings.
See related article:‘We should have bought Bitcoin, not gold’ — BNY Mellon fund || How to File Taxes If You Used Cryptocurrency in 2021: As tax day approaches, crypto investors are dealing with the tax implications of their maneuvers Credit - Getty Images A version of this article was published in TIME’s newsletter Into the Metaverse. Subscribe for a weekly guide to the future of the Internet. You can find past issues of the newsletter here . Tax Day is almost upon America—April 18th—and if you haven’t filed your taxes yet, you might be wondering if the government will get a cut of the Bitcoin you bought several months ago. The IRS mostly treats cryptocurrency as property, meaning you might have to pay taxes on your holdings. But there’s a lot of fine print, and it’s important to wade through it all, because the agency has stepped up its enforcement to nail tax dodgers. “This is an area where the IRS is looking heavily to audit, because I think they see it as a high revenue raiser,” says Taylor Weinstein, counsel at Pryor Cashman LLP, where she is a member of the company’s tax and investment management groups. “It’s important to keep as detailed records as you can.” Of course, an accountant might be able to help you sort through it all, as will one of the many crypto tax software packages that have emerged in the last few years. But to get you started, here’s a brief primer on how to declare your digital assets. I bought crypto with cash in 2021. Do I have to pay taxes on it? If you only bought crypto as opposed to selling it, then you’re in the clear. The IRS only becomes interested after you take some sort of action upon the crypto you’ve bought. Bitcoin that’s just sitting in your Coinbase account or Metamask wallet, no matter how much it appreciates, is tax-free. If I bought crypto, how should I answer the question about ‘virtual currency’ on the front page of my tax return? On the very first page of 2022 tax returns, the IRS has signaled the importance of crypto by asking: “At any time during 2021, did you receive, sell, exchange or otherwise dispose of any virtual currency?” Story continues If you simply bought crypto with fiat currency and took no later action upon it (other than moving it to another crypto wallet), then you can safely choose “no.” If you did anything else—including buying NFT or a product online, staking your crypto, or converting it back into cash—then you should choose “yes.” If I bought and then sold crypto, how much tax do I have to pay? The IRS treats the selling of crypto like selling shares of stock, which necessitates reporting your capital loss or gain. If you bought $500 worth of Bitcoin and then sold it for $800, for example, you’d need to report a $300 capital gain. How that $300 gain is taxed depends on how long you’ve held your Bitcoin. If you bought it more than a year before selling it, you’ll pay a lower rate (according to long-term capital gains rates). If you bought it within the year, it can carry a tax rate of up to 37%, depending on how much you made on the sale. Every time you sell crypto is considered a separate taxable event that you’ll need to keep track of. Some crypto exchanges have started issuing a tax form called the 1099-K for their most active traders (i.e. those that have exceeded $20,000 in gross payments and 200 separate transactions). “This is the IRS’s number one line of defense right now, because those 1099-Ks are filed with the IRS at the same time as they are delivered to the recipient,” Weinstein says. “It is going to be the IRS’s weapon in finding taxable crypto transactions.” But even that form is incomplete in terms of the information that the IRS wants from you. It’s important to keep track of every transaction, and enter them into IRS’s Form 8949 in order to reconcile your capital gains and losses. All that information then should be reported on your Form 1040 tax return using Schedule D . TIME’s annual Best Inventions list recognizes products, software and services that are solving compelling problems in creative ways. Submit your invention for consideration here. What if I sold crypto at a loss? Don’t panic: you can offset up to $3,000 of your taxable income each year. Any excess losses beyond that can be rolled forward to future tax years, as offsets to future gains. What if I swapped one cryptocurrency for another? That’s a taxable event. If you bought Ethereum for $500, watched it appreciate to $1000, and then sold it for Solana, you’d report a $500 capital gain that you’d have to pay taxes on. What if I mined crypto or got paid for goods or services via crypto? Each of those is considered taxable income, which should be reported on your tax return on Schedule 1, as “Other Income.” The value you must report is from the day and time you earned the cryptocurrency (as opposed to the day you filed the taxes). This IRS FAQ has additional information on reporting virtual currency income in more specific cases. What if I bought a coffee or paid my phone bill with crypto? Sorry – these count as taxable events. You’ll need to report each transaction, just as if you were selling stocks. For this reason, it’s extra important to keep track of all the crypto leaving your wallet, and the type of currency you’re using. You can look up your own blockchain transactions via websites like Etherscan and blockchain.com/explorer . I’m an NFT creator. What parts of my activity are taxable? While the IRS hasn’t released any specific tax guidance on NFTs, experts agree that most transactions involving NFTs are taxable if they involve crypto. If an artist mints an NFT, for example, they have a capital gain or loss on the crypto that they exchanged in the minting process. Likewise, they also would have to pay capital gains tax when that NFT is sold. If you’re a professional NFT creator, then you can deduct certain business expenses, just as you would for any other type of business. What if I bought and sold NFTs as an investor? Every transaction bought with cryptocurrency, including NFTs, is subject to capital gains tax. Same rules apply as before: The amount you owe depends on how long you held the NFT and whether you made a profit. You can claim losses on NFTs in your taxes. One aspect that the IRS has not resolved is whether they consider NFTs as “collectibles,” which are a separate category of asset under the tax code. For now, Weinstein says that to categorize your NFTs as collectibles “seems like that would be the right approach.” How about paying for stuff with stablecoins? Because stablecoins rarely fluctuate in value—as many of them are pegged to the U.S. dollar—it’s far less likely you’d have a capital gain or loss when using them. Nevertheless, using stablecoins to pay for things is still considered a taxable event that you have to report. What I gave to charity via crypto? You can claim a deduction if you itemize properly (for the value of the crypto on the time and date of the contribution). You don’t have to pay capital gains taxes in this instance. What happens if I don’t comply? The IRS will be watching you, especially if you’re an active trader. The agency has subpoenaed centralized crypto exchanges for information about noncompliant U.S. taxpayers. In 2021, they issued John Doe summonses to crypto exchange operators Kraken and Circle in order to locate individuals who traded $20,000 or more in crypto from 2016 to 2020. I need help Plenty of crypto tax software solutions have been created to ease this process; they include CoinTracker , TokenTax , CryptoTrader.Tax . Many of those sites are also compatible with regular tax programs like TurboTax or TaxAct. Alternatively, there are a growing number of CPAs that specialize in cryptocurrency. The bottom line If you actively traded crypto and/or NFTs in 2021, you’ll have to pay the taxman in the same way that you would if you traded stocks. If you lost money on crypto due to price fluctuation, you can deduct up to $3,000 in capital losses. The IRS has shown itself to be keenly interested in this space and will likely continue to formulate rules as the space develops. So don’t think of this year’s aggressiveness as a blip, but rather the new normal. Subscribe to Into the Metaverse for a weekly guide to the future of the Internet. Join TIMEPieces on Twitter and Discord || There Are 5 Types of Money Marriages: Which Do You Have?: When you said I do, you were thinking about marriage and babies and growing old together, not whether or not youd combine your checking accounts or argue over credit card payments. But since keeping tabs on your financial health is critical to your union, its important to understand the type of money marriage youre in. Weve identified five that all couples fall into, and were breaking each one downalong with its perks and pitfalls. RELATED: We Finally Combined Our Bank Accounts and Here's What It Did for Our Marriage 1. The Whats Mine Is Yours-ers This Method, Defined: The minute you signed your marriage license, you also signed over your bank account and retirement information, and you definitely consider separate credit cards to be
weird. (For the record, the idea of a prenup doesnt exist in your world either.) You got married so you wouldnt have to nickel and dime each other, and swiping a card connected to one singular account takes the guesswork out. Why It Works: When you merge everything , it makes it a breeze to calculate the big picture together. (The only real way to know your bottom line is to withdraw from the same pot.) This is hugely beneficial not just for bill paying, but also for long-term together goals like house-buying and college-savings. It also has good-for-your relationship benefits. According to a recent study published by UCLA, married couples that combine their finances are happier in their relationship and less likely to break up. Potential Pitfalls: Maybe theres a salary discrepancy. Maybe one of you is a spender while the other is a saver . When cash is combined, the other persons spending is entirely your business (You have how much in parking tickets? You spent how much on salad?), or you can feel resentful if you cut back while your spouse splurges. The work-around? Meticulous budgeting, so you both have rough numbers for your max spend per category. 2. The Separate But Equals This Method, Defined: Yes, youre married, but on the financial front, youre pretty independent: Separate bank accounts, separate credit cards, some level of mystery about who spends what. You divvy up the big stuff (you pay the electric bill; he pays the gas) and take turns picking up the check. But should you want to buy a $750 handbag, thats none of his business. Story continues Why It Works: Many experts agree that not merging bank accounts is actually a more modern way to show signs of trust in a relationship, especially since couples are now tying the knot later in life and coming to the marriage with more income and savings established. By keeping those accounts separate, you can better maintain your identity and individuality, says Feneba Addo, assistant professor of consumer science at the University of Wisconsin-Madison, in an interview in The Atlantic . Plus, it's a better way to safeguard your money, should the relationship sour. Potential Pitfalls: While you know exactly what youre spending, separate banking makes it harder to know what your spouse is shelling outwhich can hinder long-term savings goals. Things can also get murky when children enter the picture, at which point you may need more transparency. 3. The Joint(ish) The Method, Defined: Youve merged your checking account, your credit cards, even your investment portfolio. (Well, you opened a new one togetherbravo.) But youve each maintained one separate side account to fund gifts, splurges or other stuff that supports you individually rather than you as a couple. Why It Works: Ah, balance. It feels good right? By having most of your money in a shared account, you can approach finances as a team and always keep your eye on big-picture family goals. But by having some money that's yours and yours alone, you can still maintain some level of individualityand have a pot from which to buy gifts and splurges. Potential Pitfalls: With separate accounts, youll need to really define what should come from where. For example, should a spa visit come out of joint when youre a stressed-out mom of three or should it come from your personal savings? How about your bar tab with friends? Be up front with each other before you buy so you dont need to nickel and dime each other when the bill comes due. 4. The Macro- and Micro-Managers The Method, Defined: One of you handles all big-picture stuffinvestments, retirement accounts, home purchaseswhile the other handles the everyday spending. Neither party gets too involved in the others approach, and as a result you have more time for non-money-related matters. Why It Works: Delegation is smart in a lot of areas of life, but especially finances, where it can be overwhelming to keep track of everything. This is especially true depending on how you approach everyday tasks: While some people are really good at big-picture thinking, others prefer a more detail-oriented approach. And, according to leadership research conducted by Harvard Business Review , this may be a fact of life for you both: One of you is in a better position to take a step back and do the thinking while the other person is on the front line putting out financial fires that come up on the daily. If you and your partner know this about each other or your circumstances, it can work to your advantage to play to your strengths. Potential Pitfalls: Just be sure that neither one of you ends up in the dark about the others strategy or feels like an important decision was made without consent. (Wait, we traded in the kids college fund for Bitcoin?). Have a monthly check-in or budget meeting where you each give a snapshot of any windfalls or setbackslike a big change in your stock portfolio or the cost of a recent car repair. 5. The Dictatorship The Method, Defined: One personbreadwinner or notcontrols all the finances. The other person (or minion) either runs purchases past said dictator for approval or simply swipe, swipe, swipes until (eep) the credit card suddenly gets shut off. The minion is generally unaware of big-picture spending, and often has little knowledge of total assets. Why It Works: We hate to say it, but it kind of doesnt. Unless youre in one of those famed sugar daddy/baby situations that always skeeve us out. Potential Pitfalls: Aside from the icky relationship implications (power dynamic much?), this is really dangerous financially. Should anything go awry, the minion has no control, no big-picture understanding and quite often no money in his or her name. Yes, its OK if one person deals with the family finances more than the other, but the two of you are a team and you should both be up to speed on where you stand. RELATED: The 4 Types of Bosses...and How to Manage Up to Them || Bitcoin Lethargic as May Starts, Though Month Could Prove Pivotal: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin (BTC) has started off May with the same listless price action that prevailed for most of April, although analysts say the coming month could prove decisive.
The largest cryptocurrency by market capitalization is up 1.3% through the first two days of May, changing hands around $38,310 as of press time.
Historical data shows that May is typically a strong month for bitcoin, withgains averaging 27%over the past 11 years.
A repeat in 2022 would be welcomed by bitcoin bulls, especially after April's 17% rout – the cryptocurrency'sworst monthly performance so far this year. Bitcoin has declined over the past four weeks alongside weak U.S. stock markets, and lately it has beenespecially correlatedwith the tech-focused Nasdaq 100 Index.
• Alex Kuptsikevich, senior market analyst at FxPro, estimates BTC will end May somewhere between $32,000 and $48,000.
• “A more local view of the dynamics of the first cryptocurrency indicates an ongoing struggle around the $38K mark,” said Alex Kuptsikevich. “This struggle will decide which of the above levels the price will be closer to at the end of the month.”
• IntoTheBlock analysts see macroeconomic conditions impacting crypto’s outlook through the rest of 2022.
• “Both bitcoin and [ether] saw net outflows from centralized exchanges in the hundreds of millions,” wrote IntoTheBlock in a newsletter, “suggesting buyers continue to accumulate on their private addresses.”
• CoinDesk’s Omkar Godbole reported earlier Monday thatbitcoin is historically immune tothe “should I sell in May?” sentiment prevalent in some other assets. In the past 11 years, seven of them saw bitcoin trade higher in May.
• Ether (ETH), the native cryptocurrency of the Ethereum blockchain, was down 0.4% in the past 24 hours, trading at $2,803.
• U.S.stocksare down Monday. The S&P 500 was down 0.78% and the Nasdaq was down 0.5%. || USD/JPY: Could Weaken Under 126.444 Amid Intervention Fears: The Dollar/Yen is inching higher on Monday, hitting a fresh two-decade low as the dollar continued to climb on the back of higher Treasury yields. Volume continues to remain light as the major players ease back into trading following an extended Easter holiday weekend in some parts of the world.
The thin volume and tentative buying is also being attributed to bearish comments from top Japanese policymakers and the growing fear of a potential direct FX intervention designed to strengthen the Yen.
At 11:10 GMT, theUSD/JPYis trading 126.610, up 0.166 or +0.13%. Last Thursday, theInvesco CurrencyShares Japanese Yen Trust ETF (FXY)settled at $74.39, down $0.18 or -0.24%.
After an early test of the two-decade low, the Japanese Yen bounced higher after both Bank of Japan Governor Haruhiko Kuroda and Finance Minister Shunichi Suzuki voiced concerns about its low valuation. But the move was short-lived.
Japanese policymakers have been vocal about their concerns around the falling Yen, particularly after it slipped to the weaker side of 125 per dollar on April 11.
The main trend is up according to the daily swing chart. A trade through the intraday high at 126.789 will signal a resumption of the uptrend.
A move through 121.284 will change the main trend to down. This is highly unlikely but due to the prolonged move up in terms of price and time, the USD/JPY is currently inside the window of time for a potentially bearish closing price reversal top.
The minor trend is also up. A trade through 125.089 will change the minor trend to down. This will shift momentum to the downside.
There is no visible resistance at current price levels, but the nearest support is a series of pivots at 125.939, 125.130 and 124.037.
The direction of the USD/JPY into the close on Monday is likely to be determined by trader reaction to 126.444.
A sustained move over 126.444 will indicate the presence of buyers. Taking out the intraday high at 126.789 will indicate the buying is getting stronger. This could trigger an acceleration to the upside.
A sustained move under 126.444 will signal the presence of sellers. The first downside target is the pivot at 125.939. Buyers could come in on the first test of this level, but if it fails then look for the selling to possibly extend into the support cluster at 125.130 – 125.089.
Taking out 125.089 could spike prices into the next pivot at 124.037, followed by the next minor bottom at 123.471.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Bank of America(BAC) – American banks have improved greatly in quality since 2008 and are still relatively undervalued.
• Hershey(HSY) – The leading chocolate company has tremendous pricing power to fend off inflationary concerns.
• VerizonCommunications(VZ) – The stable telecom operator now offers greater than 5% dividend yield.
• Chevron(CVX) – Energy has entered a new bull market, and Chevron is a safe way to enjoy the ride.
• Snowflake(SNOW) – One of the fastest and most dynamic software companies is now on sale.
• Visa(V) – Credit card companies are winners as global travel rebounds.
• StoneCo(STNE) – The Brazilian payments player is still reporting strong numbers despite stock price collapse.
Source: Kent Sievers / Shutterstock.com
The stock market had an unpleasant month of April, to put it mildly.
TheS&P 500fell roughly 9%, and more aggressive investments such as tech and disruptive stocks dropped even more sharply. Investors face a difficult outlook. The economy is already on the brink of recession, with GDP growth dipping into negative territory this past quarter.
Yet, with inflation running above 8%, theFederal Reserve seems set on many more rate hikeseven into a rapidly slumping economy.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
So what’s an investor to do? As Warren Buffett is fond of saying, never bet against America. Things look rough for the rest of 2022 and perhaps 2023 as well, but long-term investors will still succeed. Buffett’sBerkshire Hathaway(NYSE:BRK.A, NYSE:BRK.B) has prospered over the decades despite an unending stream of recessions and geopolitical shocks.
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[{"Ticker": "BAC", "Company": "Bank of America Corporation", "Current Price": "$35.68"}, {"Ticker": "HSY", "Company": "The Hershey Company", "Current Price": "$225.77"}, {"Ticker": "VZ", "Company": "Verizon Communications Inc.", "Current Price": "$46.30"}, {"Ticker": "CVX", "Company": "Chevron Corporation", "Current Price": "$156.67"}, {"Ticker": "SNOW", "Company": "Snowflake Inc.", "Current Price": "$171.44"}, {"Ticker": "V", "Company": "Visa Inc.", "Current Price": "$213.13"}, {"Ticker": "STNE", "Company": "StoneCo Ltd.", "Current Price": "$9.42"}]
Source: Michael Vi / Shutterstock.com
Bank of America(NYSE:BAC) is Berkshire Hathaway’s second-largest holding, making up more than 13% of the portfolio. Buffett is known as an expert in the banking industry, and he’s taken a huge swing on BAC stock.
You might want to as well. The bank is a power player, combining a strong investment banking franchise with one of the nation’s most powerful retail banks. This internal diversification gives it a robust revenue stream that tends to fare well in a variety of economic climates.
That may become necessary as economic conditions change rapidly. Regardless, the bank is well-situated for what comes next; on its last earnings call, it pointed to higher income in coming quarters as interest rates rise. Meanwhile, with shares down nearly 20% so far in 2022, BAC stock is selling for just 11x forward earnings.
Source: George Sheldon / Shutterstock.com
The Hershey Company(NYSE:HSY) is the only stock on the list that Berkshire doesn’t currently own. However, Berkshire has been the longtime owner of chocolate companySee’s Candies. See’s Candies is often cited as one of Berkshire’s best deals overall in terms of the amount of cash flow it generates compared to Berkshire’s purchase price.
For public market investors, while we can’t buy See’s directly, Hershey may be the next big thing. Hershey is one of the three big players in the American chocolate market. As you might expect, chocolate sales tend to be nearly immune to economic shocks. People want their little luxuries regardless of how things are going overall.
In addition, Hershey has proven to be extremely resilient in the face of inflation. It has been able to hike prices more quickly than inflation, leading to a beneficial effect for the company’s profit margins. Hershey also has a history of raising its dividend every year, ensuring that long-term shareholders get a bigger share of the pie as profits increase. That’s been a sweet deal for HSY stock owners over the decades.
Source: Ken Wolter / Shutterstock.com
Verizon(NYSE:VZ) is one of Berkshire’s largest holdings as of last quarter. It owned 159 million shares, or roughly $8 billion worth of the telecom giant.
Verizon is not a particularly exciting business. However, it’s a great income holding, as it pays a large and consistent dividend. It can do so since the cash flows from telecom tend to be so stable.
Shares dropped around 10% followingrecent earnings, driving VZ stock’s dividend yield back up above the 5% mark. That makes a reasonable dip-buying opportunity for income investors, especially since shares are now going for just 9x forward earnings.
Source: Tada Images / Shutterstock.com
Oil and gas are back, and the integrated energy companies are flying high. Analysts seeChevron’s(NYSE:CVX) earnings jumping close to 90% in 2022 to around $15.50 per share. If they hit that mark, that would put CVX stock at just 10x earnings, even after the run-up in Chevron’s share price.
So, contrary to what some analysts may say, integrated oil giants aren’t necessarily expensive even after significant gains this year. Earnings have improved to an astounding degree. And there may be more upside ahead. Thegeopolitical conflicts in Europehave created a major squeeze on gas supplies in that market. This could create a significant opportunity for American gas producers such as Chevron. There’s more to the story than just oil prices, though obviously those are going well for Chevron too.
As of last quarter, Berkshire now owns 38 million shares of Chevron; it added more than 9 million shares to its stake in the prior quarter. For a solid defensive dividend play, Chevron is a great pick.
Source: Sundry Photography / Shutterstock
Snowflake(NYSE:SNOW) is one of the fastest-growing software-as-a-service (SaaS) companies out there. Berkshire invested in Snowflake just prior to SNOW stock’s initial public offering (IPO). That initially looked like a home run, as SNOW shares doubled in short order after trading began.
It’s clear why traders were so excited. Snowflake posted a greater than 100% revenue growth rate last year, going from $592 million of revenues to $1.2 billion in a single year. Going forward, analysts see 67% and then 56% revenue growth over the next two years, which is simply jaw-dropping for a company that is already as large as Snowflake.
The issue, though, was valuation. At its peak stock price, Snowflake was worth a market capitalization of nearly $125 billion, and had a price-sales ratio of around 100. It’s hard to sustain such a generous multiple, regardless of how amazing the underlying business is. Now, however, with SNOW stock down by more than half, it may be time to join Buffett in owning this leading cloud data warehousing company.
Source: Kikinunchi / Shutterstock.com
Visa(NYSE:V) is one of the few large-cap financial technology companies to post a solid quarterly earnings report this season. Visa shares leapt 8% following a much better-than-expectedearnings report.
A huge part of profitability for the credit card companies is due to cross-border transactions. Generally, Visa takes a very low percentage of each transaction. However, it gets to earn a much bigger fee on international transactions with foreign currency. Now that Covid restrictions are lifting internationally, global travel is picking back up and it showed up dramatically for Visa this past quarter.
The reopening bump won’t last forever. However, Visa’s long-term trajectory also looks great. Plastic is still continuing to take market share from physical cash. Meanwhile, many highly-touted fintech “disruptors” have seen their share prices collapse over the past 12 months. Turns out, it was pretty hard to disrupt traditional payments companies after all. Berkshire Hathaway knows the industry well and is holding V stock. That seems like a most reasonable long-term position.
Source: T. Schneider / Shutterstock.com
That being said about Visa, Berkshire does own a couple of fintech companies as well. Arguably the most interesting of this bunch isStoneCo(NASDAQ:STNE).
StoneCo shares are, incredibly enough, down by more than 90% since their all-time highs. The Brazilian payments company has been hit on all fronts. There was geopolitical uncertainty in Brazil, a massive increase in interest rates in that market, and problems on the consumer lending side.
However, StoneCo’s quarterly metrics, such as user growth, continue to post gargantuan increases. STNE stock popped close to 50% on itslast earnings reportas it smashed expectations and management guided to a much better outlook for the rest of 2022. However, given the ongoing selling in speculative tech stocks, STNE stock has given back most of its earnings rally. That sets up a second chance to buy the company that is already well into its turnaround.
On the date of publication, Ian Bezek held a long position in V, STNE, BRK.B and HSY stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Warren Buffett Stocks to Buy in May and Hold for Yearsappeared first onInvestorPlace. || Block Is Telling a Growth Story That Investors Simply Aren’t Buying: Block (NYSE: SQ ) stock is outperforming PayPal (NASDAQ: PYPL ) in 2022. Square, Inc. changes name to Block (SQ). Smartphone with Square logo on screen in hand on background of Block logo. Source: Sergei Elagin / Shutterstock.com That’s a sentence I didn’t expect to write a year ago, and I really didn’t expect it to mean that SQ stock is less bad than PYPL stock, but that’s the situation that investors find themselves in. As such, Block is down 31% while PayPal is down 48%. InvestorPlace - Stock Market News, Stock Advice & Trading Tips However, despite a strong earnings report, SQ stock can’t stop its slide. It would seem investors are voting with their dollars. In this case, they’re not buying what the company formerly known as Square is selling. A particular takeaway from the company’s earnings report was the market’s “meh” reaction to strong performance from the company’s Cash App. As Louis Navellier points out , Cash App’s gross profit growth was significantly lower than in the prior year’s quarter. That’s why I think Block’s pyrrhic superiority over PayPal is coming to an end. In fact, I believe that PYPL stock is likely to recover, albeit not at its prior levels. 8 Strong Uptrend Stocks to Buy on the Next Dip I don’t believe the same can be said of SQ stock. There are simply too many factors weighing on the stock. In addition to facing competition in the financial technology (fintech) sector, Block faces exposure to the cryptocurrency market which is having problems of its own. It’s Getting Late Early for SQ Stock One year ago, I wouldn’t have predicted that Block would perform this way. At that time, JPMorgan Chase (NYSE: JPM ) CEO Jamie Dimon was calling fintech the largest threat to legacy banking operations. The drop in fintech stocks is about more than the stocks having been overvalued for much of last year. Also, it’s not sufficient to say that what’s happening is just part of the tech sell-off. Stocks like SQ and PYPL were dropping before the broader market. Plus, the tech sector is seeing some evidence of green shoots. The same can’t be said for fintech stocks. The fintech market got old quickly. I’ll admit to missing the warning signs. The pandemic created mass adoption of e-commerce and the need for digital payment solutions. At the time, PayPal and Block had the field largely to themselves. This is a cautionary tale of what happens when a business (and in this case an entire sector) doesn’t have a defensible moat. As Larry Ramer points out, in addition to PayPal, Block is likely to face competition from Shopify (NYSE: SHOP ), and Apple (NASDAQ: AAPL ). Desperation or Genius? What makes the situation for Block precarious is that the company’s CEO has a commitment, bordering on obsession, to cryptocurrency. As evidence of this, Block just started a promotion with Shake Shack (NYSE: SHAK ). Customers will receive cash back equal to 15% of their purchase in Bitcoin ( BTC-USD ). Story continues That move will either come across as desperate or inspired. To qualify, customers must use Block’s Cash Card, a debit card for the company’s Cash App users, or make purchases via Cash Boost, Block’s reward program for Cash Card members. So far, Shake Shack has seen no evidence that suggests customers are demanding to use crypto to make purchases. But the company is looking at this as a trial balloon of sorts to determine whether it should expand its use of cryptocurrency as a form of payment or by extending the reward program. However, this is another situation where the company is going to face competition from established businesses in the crypto and blockchain sectors. Make SQ Stock Prove It to You If you needed one more reason to avoid SQ stock, I’d point to the level of institutional ownership drying up. While buyers still outnumber sellers over the last 12 months, institutional investing dropped to a trickle in the last quarter. Even if you believe that Block is telling an underappreciated growth story, it’s going to be hard for the company’s stock price to appreciate with retail investors having to do the heavy lifting. Particularly in the tech sector. Even if growth stocks are in for a rough year or two, there are better options than SQ stock. On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Get in Now on Tiny $3 ‘Forever Battery’ Stock It doesn’t matter if you have $500 in savings or $5 million. Do this now. Stock Prodigy Who Found NIO at $2… Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post Block Is Telling a Growth Story That Investors Simply Arenât Buying appeared first on InvestorPlace . View comments || British Museums carbon splurge on demeaning NFT scheme: Katsushika Hokusai, The Great Wave The British Museums attempt to raise funds by selling digital NFTs has produced enough carbon emissions to power a home for 57 years, analysis suggests. NFTs, or non-fungible tokens, are digital assets stored and traded using the same blockchains that are used for cryptocurrencies including Bitcoin and Ethereum. Launched earlier this year, its NFT project has attracted criticism from the art historian Bendor Grosvenor, presenter of the BBC show Britains Lost Masterpieces, who said the museum demeans itself by taking part in the trend. The British Museum project uses the blockchain Ethereum, and the carbon footprint comes from the way the transactions take place. Each transaction must be verified, and users compete to do this by solving complex computer puzzles in order to earn cryptocurrency - a process which uses large amounts of electricity. Writing in The Art Newspaper, Mr Grosvenor said: The Digiconomist website estimates that each transaction uses enough electricity to power the average US home for around nine days, producing 150kg of CO2. So just for the British Museums NFTs already offered for sale, we get a starting carbon cost of 315 tonnes of CO2enough to power that US home for 57 years. Last year, the museums whole carbon footprint was 5,861 tonnes, its annual report shows. The British Museum said it was serious about our commitment to sustainability and the environment - Heathcliff O'Malley The NFTs sold by the museum include images of art by JMW Turner and 19th century Japanese artist Katsushika Hokusai, famous for Under the Wave off Kanagawa, also known as The Great Wave. Ownership of an NFT representing one of these artworks does not give the owner any rights to the actual painting. The museum says it is still examining the carbon emissions of the project and told The Telegraph it would be offsetting its environmental impact. The website LaCollection, which hosts the art sales, says it plants a tree for each NFT it makes. One broad-leaf tree absorbs an estimated one tonne of carbon dioxide over a 100-year lifetime. A Storm (Shipwreck, 1823) by JMW Turner, whose work is also being offered as an NFT Offsets, often based on paying to plant trees or absorb carbon through restoring other ecosystems such as peatlands, face criticism due to the difficulty of quantifying the carbon absorbed and controversy around double-counting, where two businesses both claim the same carbon removal. Story continues Dr Catherine Flick, a reader in computing and social responsibility at De Montfort University, said: Its kind of like a collectible card game. I think theres a limit to the sustainability of that, as well. The initial push for it will be exciting and maybe make a lot of money, but I suspect this whole thing is going to die down quite significantly in a few years time, as people realise they are pretty worthless. Is that worth the hit for the climate that its making? Especially completely frivolous stuff like this. A spokesman for the museum said it would soon be moving to Ethereum 2.0, a new version that uses significantly less energy, though this project has been repeatedly delayed. He said: We are serious about our commitment to sustainability and the environment and have put in place a plan to minimise the impact. In technical terms, the British Museums NFTs are currently on the Ethereum blockchain and we plan to move to Ethereum 2.0 as soon as it is made available this year. Ethereum 2.0 only requires a tiny fraction of the energy usage compared to Ethereum. Our NFT partner LaCollection is also currently undertaking an analysis of the environmental impact of the programme and investigating the best possible offset solution we expect any solution to offset existing energy usage and any future developments. || U.S. yields jump to 3-year highs, stocks slide on CPI outlook: By Herbert Lash NEW YORK (Reuters) - Global stock markets fell on Monday, pulled lower by technology shares in Europe and on Wall Street, as U.S. Treasury yields jumped ahead of inflation data that could prompt the Federal Reserve to tighten policy enough to slow a rebounding economy. The euro rose against the dollar to snap a seven-day losing streak as the single currency rallied after French leader Emmanuel Macron beat far-right challenger Marine Le Pen in France's first round of presidential voting on Sunday. The dollar held just below almost two-year highs against a basket of currencies and strengthened against the Japanese yen, up 0.88%, and versus the commodity currencies - the Canadian, Australian and New Zealand dollars. The yield on benchmark 10-year Treasuries rose more than 7 basis points to 2.793%, the highest level since January 2019. Yields have surged in anticipation of Fed rate hikes, which Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management, expects to be by 50 basis points at each of the Fed's next three policy meetings. "The Fed is going to move aggressively. The market has appropriately priced it in," Mullarkey said. "They don't want to be an issue in the midterms," Mullarkey added, referring to elections in November that will determine whether Republicans can wrest control from President Joe Biden's Democrats in the U.S. Senate and House of Representatives. "They also do not want to be in the position where they don't have inflation under control." Economists polled by Reuters forecast the U.S. consumer price index (CPI) on Tuesday would post an 8.4% year-over-year increase in March. Separately, they also saw the probability of a recession next year at 40%. Technology shares, which have been underpinned by record low interest rates, fell 2% in Europe and 2.6% on Wall Street. MSCI's gauge of stocks across the globe closed down 1.33% and the pan-European STOXX 600 index slid 0.59% as regional bourses fell with the exception of France's CAC 40. Story continues On Wall Street, the Dow Jones Industrial Average fell 1.19%, the S&P 500 lost 1.69% and the Nasdaq Composite dropped 2.18%. All 11 S&P 500 sectors fell. Volatility gripped French blue chips on the outlook for a tight Macron-Le Pen race in the final round of voting. French assets have underperformed as markets are uneasy about Le Pen's agenda of protectionism, tax cuts and nationalization. The CAC 40 index, which is off 1.5% so far in April as the STOXX 600 gains about 0.4%, closed up 0.12%. "I don't expect the French equity markets to rally until we have the second round - we expect a lot of volatility and range-bound trading," said Mathieu Racheter, head of equity strategy at Julius Baer. "It is really a close call in the runoff." Overnight in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.6% and the Nikkei 225 in Tokyo slid 0.61%. Oil prices dropped by $4 a barrel, with Brent tumbling below $100 on plans to release record volumes of crude from strategic reserves and on continuing COVID-19 lockdowns in China. U.S. crude futures fell $3.97 to settle at $94.29 a barrel while Brent settled down $4.30 at $98.48. Palladium steadied after jumping as much as 5% on supply concerns following a recent suspension on trading of the metal sourced from Russia in the London metals hub, while gold was buoyed by inflation fears. U.S. gold futures settled up 0.1% at $1,948.20 an ounce. Bitcoin fell 5.66% to $39,748.60. China's inflation figures surprised on the high side on Monday although they were still relatively modest at 1.5% year-on-year in March. But that still saw yields on China's 10-year government bonds fall below U.S. Treasury yields for the first time in 12 years on Monday. GRAPHIC: US-China https://fingfx.thomsonreuters.com/gfx/mkt/myvmnqlakpr/us-china.JPG (Reporting by Herbert Lash, additional reporting by Samuel Indyk and Elizabeth Howcroft in London, Sruthi Shankar in Bengaluru; Editing by Philippa Fletcher, Angus MacSwan, Will Dunham and David Gregorio) || Cassava Sciences May Be Heading Below $10 Per Share: Cassava Sciences(NASDAQ:SAVA) is a small biotechnology company. It is focused on a drug, simufilam, which it believes may help treat patients with Alzheimer’s disease. SAVA stock ran up more than 1,000% at one point last year on hopes of an imminent breakthrough in the treatment of Alzheimer’s. However, that euphoria has given way in 2022. Increasing concerns around the clinical data for the drug and various scientific study retractions have caused SAVA stock to slump.
Arecent articlein theNew York Timesraised some more serious concerns about Cassava’s processes and outlook. TheTimesarticle featured quotations from a number of doctors raising issues with simufilam’s alleged method of action, its safety and thepotential of the drug to succeed.
For investors that aren’t scientists, it’s awfully difficult to make heads or tails of this controversy. It’s hard for an outsider to assess this sort of thing, which requires specialized biology expertise. That said, as more serious criticisms pile up, the odds of the drug succeeding appear to keep on dropping.
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This leaves the question of what happens to Cassava if and when simufilam ends up being shelved. Suppose the skeptics are right and the drug simply doesn’t work at a level sufficient to garner Food and Drug Administration (FDA) approval. What would SAVA stock be worth in that case?
• 7 Risky Stocks That Are Worth Betting On
The company is focused almost entirely on simufilam, meaning that there is minimal value to the rest of the company’s current operations if and when simufilam is discontinued. As of December 31, the company had $233 million in cash, or just shy of $6 per share in cash. Biotech companies tend to trade around cash value if their lead drug candidate doesn’t work. This would suggest SAVA stock could end up at $6 — or at minimum in the single digits — if and when investors give up on simufilam.
Also note that the company’s cash balance will decrease over time as it continues spending on its clinical operations. Therefore, that $6 isn’t necessarily a hard floor for valuation going forward, either.
Historically, Alzheimer’s has been an incrediblydifficult medical conditionto treat. Biotech companies have about the worst track record against Alzheimer’s as any illness. So there’s no shame for Cassava if simufilam doesn’t end up reaching the clinical success threshold. What is more difficult to excuse, however, is the incredible amount of drama and recriminations around the drug’s clinical data. At this point, it’s exceptionally difficult for any neutral party observer to have confidence in simufilam given all the controversy that’s happened over the past year. With that being the case, SAVA stock may end up trading for little more than its cash value, meaning the stock could end up at $6 in the fullness of time.
On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postCassava Sciences May Be Heading Below $10 Per Shareappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 30296.95, 31022.91, 28936.36, 29047.75, 29283.10, 30101.27, 31305.11, 29862.92, 30425.86, 28720.27
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
South Korean Presidential Committee Wants to Bring Crypto Into Mainstream Finance: Financial institutions should be allowed to offer cryptocurrency products such as derivatives, according to a government advisory body in South Korea. In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed the government could move to bring cryptocurrencies into the mainstream of finance through a number of measures, including derivatives. With cryptocurrency trading surging worldwide, it is no longer possible to stop crypto-asset trade, said the PCFIR, as per a report by Business Korea on Monday. Related: We Still Dont Know Bitcoins Real Volume The committee said the government could follow the lead of U.S. regulators and sanction products such as futures contracts tied to bitcoin. Institutions would also be allowed to offer other cryptocurrency services such as trading. 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, the committee said in the report. To support such a move, the nations fintech sector should develop custody solutions for cryptocurrency to avoid a reliance on foreign custodians, said the PCFIR. Addressing crypto exchanges, the committee said the government should look into bringing in a licensing scheme or guidance. The industry is currently loosely controlled via guidance given to banks and a South Korean financial watchdog under the Financial Services Commission is also reportedly aiming to directly supervise exchanges. Related: Closer Look at SEC Accredited Investor Revamp Suggests Little Will Change Other suggestions from the PCFIR included, notably, that bitcoin might be directly listed on Korea Exchange, the nations securities bourse, and that the terms cryptocurrency and virtual currency could be brought together under the umbrella term crypto assets. The PCFIR was set up in 2017 to advise on policies relating to new technologies and help lay the groundwork for related new industries and services. Related Stories Koreas Tax Agency to Withhold $70M From Crypto Exchange Bithumb South Korean Central Bank to Organize a CBDC Task Force || Latest Bitcoin Cash price and analysis (BCH to USD): At the time of writing, Bitcoin Cash (BCH) is trading at around $202 after gaining over 3% since last week. Over the past 24 hours, BCH has lost more than 1.5%. In October, BCH rebounded spectacularly towards the end of the month in response to Bitcoin’s positive momentum. However, over the last two months , the crypto market has tumbled again and BCH has come crashing down. Will BCH start pushing higher again thanks to recent developments ? And if so, what are the next levels of support to look out for? Or will Bitcoin Cash drop further? Let’s take a look at the chart, courtesy of TradingView . As you can see from the chart above, the price of BCH recovered during late October before crashing around 45% as we moved through November. The October gains were lost and the price came crawling back down to as low as $200 as the huge market-wide meltdown hit the coin hard. And it seems that the downtrend is continuing as BCH has now fallen below $200 for the first time since March. In addition, Bitcoin Cash is now trading below all its EMAs. BCH needs to try and regain support at around $225, as there’s a steep drop to $170 below that. For the time being, I expect BCH to trade below its EMAs for a while and to attempt to recover towards the 200-day EMA – even though the market is showing no signs of a recovery just yet. Right now, volume sits at just above $1 billion – around half of what it was last week. Safe trades! BCH fundamentals I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver , and discussed the most recent developments on the horizon for BCH. You can find all the details here , but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party. Story continues I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem. Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Roger Ver to launch crypto exchange on Bitcoin.com By Oliver Knight – January 2, 2020 As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . The post Latest Bitcoin Cash price and analysis (BCH to USD) appeared first on Coin Rivet . || US Federal Court Judge Allows UnitedCorp to Continue its Antitrust Suit against Bitmain, Kraken, Roger Ver and the ABC Bitcoin Cash Development Team: Court grants leave for UnitedCorp to submit an amended complaint Miami, Florida--(Newsfile Corp. - January 31, 2020) - Miami-based United American Corp ("UnitedCorp") ( OTC Pink: UAMA ) announced today that in a ruling issued by Magistrate Judge Chris McAliley of the US District Court, Southern District of Florida on January 28, 2020, the Judge allowed UnitedCorp to continue its antitrust lawsuit originally filed against Bitmain Group, Bitcoin.com, Roger Ver, Jihan Wu, Kraken, Jesse Powell, Amaury Sechet, Shammah Chancellor and Jason Cox (the "Defendants"). UnitedCorp will have 30 days to submit an amended complaint to address certain issues brought up by the Court after it granted without prejudice the motion to dismiss. The Court also rejected a motion from counsel of the Bitmain Group and Jihan Wu to have them excluded from the complaint due a one-week delay in service in China. In a related ruling on January 21, 2020 the Court denied a motion by UnitedCorp without prejudice for a 90-day extension to serve foreign defendants Saint Bitts LLC and Amaury Sechet. The two rulings mean that the complaints can be amended but will not include the two defendants that could not be served in foreign jurisdictions. This ruling comes as the result of a motion presented by the Defendants one year ago on February 1, 2019 to dismiss the complaint in its entirety with prejudice. While the Judge recognized that there were some deficiencies in the initial UnitedCorp complaint which needed further definition in terms of the Defendants' actions and the injuries to the company, UnitedCorp believes the Court recognized that prima facie, there were key questions of law that needed to be addressed and defined in the emerging cryptocurrency industry. During the hearing, the Judge questioned defense counsel on the role of Kraken as an exchange had in defining the cryptocurrency market and subsequently did not accept, for now, Kraken's assertion that it had no role in the market and therefore could not be part of the antitrust complaint. Story continues Judge McAliley also did not accept for the time being, assertions made by counsels for Ver, Cox and Chancellor that the Defendants' actions by implementing Checkpoints in the software code, amongst other things, resulted in two competitive chains, therefore there were no antitrust issues to be evaluated since the action would have resulted in increased competition. The Court questioned furthermore, whether those actions are now preventing future changes in consensus rules and if the Bitcoin ABC software patch on November 15, 2018 was applied to both network nodes and exchanges. The Court raised questions about the market value in the Bitcoin Cash ticker (BCH) at the time of the hard fork and questioned if Kraken would have benefited from its delisting of the resulting coin (Bitcoin SV - "BSV") thereby discouraging trading of BSV just after the hard fork. The Judge continued to questioned counsel for Kraken on the economic basis for the decision to delist Bitcoin SV as well as its arguments to the effect that BSV would have been unstable with lack of liquidity since this seemed to be the case for many other cryptocurrencies traded on Kraken - not just BSV. In its defense Kraken counsel argued that it was obliged to disclose to their clients that it believed there was a lack of liquidity in the BSV market which required the immediate delisting of BSV, an argument which was not accepted by the Court at this stage in the proceedings. One of the more interesting points raised by the Judge in the hearing was whether the US Federal Court could rule on whether or not the Satoshi Nakamoto White Paper of October 31, 2008 (the "White Paper") which initially defined Bitcoin, could be considered as a binding contract or rules among the users in the Bitcoin industry. The Court left open the possibility that this question might have to be addressed at some point. "We are very pleased with the outcome of the January 28th hearing and that the Court has given us the opportunity to provide additional information and resubmit an amended complaint," stated Benoit Laliberte, President and CEO of UnitedCorp. "We believe the Court has recognized the importance of establishing law in what has been to date, a fairly undefined environment. Bitcoin was developed as a decentralized and distributed peer-to-peer electronic cash system operating under democratic principles created within the network. Any move to centralize or control the network is against its very philosophy and foundation. We are very encouraged by the interest this has generated from antitrust professionals, most of whom agree that this suit is very timely given that antitrust laws are now almost 100 years old, and furthermore that it is time to assess the limits and legality of actions within the cryptocurrency industry." Background to the Suit The suit, which was launched on December 6, 2018, is the first antitrust action brought in the United States involving the cryptocurrency industry and is being closely watched by antitrust professionals and the cryptocurrency world. It alleges that the Defendants collectively engaged in unfair methods of competition, and through a series of deceptive and unfair practices, manipulated the Bitcoin Cash network for their benefit and to the detriment of UnitedCorp and other Bitcoin Cash stakeholders. It further alleges that these actions resulted in the network losing more than US $4 billion in unrecoverable value to network participants at the time as a direct result of the alleged hijacking of the network. This, in addition to a forced network fork with the implementation of their specific new rules set in the Bitcoin ABC 0.18.5 version under the control of the Defendants. UnitedCorp alleges that these new rules set have irreparably harmed the Bitcoin Cash blockchain network and Bitmain, along with the co-Defendants, should be held liable. UnitedCorp alleges that the Defendants colluded to effectively hijack the Bitcoin Cash network after the November 15, 2018 scheduled software update with the express intent of centralizing the network. This includes allegations that Roger Ver, along with Kraken and developers of Bitcoin ABC, colluded with Chinese-based and Chinese government-financed mining rig manufacturer Bitmain to unfairly redirect hashing power at the exact moment of the scheduled software update, forcing the implementation of Bitcoin ABC software centric checkpoints and thereby moving the network away from its native Bitcoin-based blockchain design. UnitedCorp also believes that the attempt to dominate the network in favor of a particular Bitcoin ABC version was enhanced by Bitmain's use of firmware known as "Overt ASICBoost" which provides significantly increased operational mining efficiency. This firmware was made available in advance of the last Bitcoin Cash update by Bitmain only to Bitcoin ABC-supported pools, which are operated by Bitcoin.com which is owned by Roger Ver. Overt ASICBoost was not usable by other Bitcoin Cash pools in a time frame that would have allowed them to apply the efficiency during the software upgrade. This gave the Bitcoin ABC-Bitmain-Bitcoin.com group-supported pools a significant advantage and allowed them to accomplish the network control centralization plan. UnitedCorp alleges that these activities are evidence of not only a violation of the accepted standards and protocols associated with Bitcoin since its inception, but a violation of US antitrust laws, including parts of the Sherman Act. In their motion to dismiss, the Defendants had argued that the UnitedCorp action did not meet the standards to proceed. In its opposition to dismiss, UnitedCorp provided a significant number of details to support the suit including evidence that the Defendants themselves made explicit statements declaring that they coordinated, conspired and agreed with each other. This included a YouTube video from an online forum where Andreas Brekken, a Kraken software engineer, acknowledges that Bitcoin ABC developers and crypto exchanges such as Kraken agreed to the entire scheme in advance. In the video, Brekken further admits that the scheme had been planned for a long time and included a software patch that could be applied by the exchanges at a strategic point during the software update which "prevents all future re-orgs" - in other words which allows control of the network. UnitedCorp's filing also provides support for the allegation that the Defendants' collective actions were for unlawful purposes and in an attempt to manipulate the cryptocurrency market for Bitcoin Cash, violated consensus rules regarding voting and precluded any future changes to Bitcoin Cash functionality and changes to the consensus rules. The actions are compared to the illegal action of "bid rigging" in that Bitmain "mercenary" miners were temporarily redeployed to the Bitcoin Cash network during the software upgrade for the sole purpose of diluting the traditional voting process exercised by existing Bitcoin Cash nodes to dominate the process for a short period of time. This violated the established ground rules of the network that others had respected and relied on for years. The Bitcoin White Paper clearly states that "Nodes can leave and rejoin the network at will, accepting the proof-of-work chain as proof of what happened while they were gone. They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism." Therefore, the use of CPU power that was never part of the network prior to the network upgrade could not possibly have "rejoined" the network for the voting process. The transient spike in CPU power could only have been achieved at that time through deliberate and coordinated manipulation by the Defendants. About United American Corp Established in 1992, United American Corp is a Florida-based development and management company focusing on telecommunications and information technologies. The company currently holds the rights to manage a portfolio of patents and proprietary technology in telecommunications, social media and Blockchain technology, and owns and operates the Data Center Domes which are designed to provide heat for agricultural operations using computer equipment in naturally cooled data centers where efficiency and low-cost operations are a priority. This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change. Source: United American Corp Contact: Investor Relations investorrelations@unitedcorp.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52000 || Here's how to have a painless tax season: Tax season is here and it’s time to gather your documents and get to work. The good news is: You can make it happen as painlessly as possible.
We understand that seems easier said than done, because – let’s be honest – taxes can be intimidating. But that’s why we created the Taxes Made Simple podcast with TurboTax and Yahoo Finance. It’s a resource that helps make doing your taxes a little more simple.
Janna Herron:This is Taxes Made Simple by Yahoo Finance and TurboTax. I'm Janna Herron.
So what are the new tax changes for this year? We know that last year there were a lot of big changes, but that doesn't mean everything's the same this year. There were a handful of changes I think people need to know about. Let's start with actually filing your taxes. You could always file your taxes for free by law, especially if you didn't have a very complicated tax return. This year, the IRS has stipulated that it should be easier and has actually created a website where you could go click on the free file and it would take you to one of the programs at TurboTax where you can file your taxes for free.
Now not everybody can file their taxes for free. It depends on how complicated your taxes are. For many, many Americans, their tax returns are pretty simple. If you're only depending on a W2 to fill out your tax return, or maybe you have a few 1099's, those things are very easy and you probably should qualify for the free file.
Another interesting change this year is the IRS is really, really interested in if you invested in cryptocurrency, such as Bitcoin. This year, the IRS is going to actually ask if at any time during 2019 did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency. So that might be a surprise for crypto investors out there. The reason behind it is that the IRS doesn't have good tracking on transactions that have to do with cryptocurrency. Usually, when you trade a stock, you sell a stock, you buy a stock, your brokerage account will send that information to the IRS and you will get a 1099 form to use to fill out your tax returns. When it comes to crypto, it's not nearly as sophisticated. A lot of the virtual currency exchange platforms don't generate those forms. So the IRS has been in the dark for a long time when it comes to cryptocurrency, so that's a big change.
There are some other things you should know about. If you got divorced last year, the way alimony or spousal support is considered by the IRS has changed. You no longer have to claim spousal support as income if you receive it from your ex-spouse. And if you're the one paying alimony, you can no longer deduct that amount from your taxes. So it's better if you are the one receiving the alimony than the one paying the alimony when it comes to this change.
There's a new change with medical expenses. If you're trying to deduct your medical expenses, it's a little bit harder this year, so your total health expenses in 2019 must be greater than 10% of your adjusted gross income for them to be deductible. Before that, the threshold was 7.5%, so it was easier to get above that threshold. Another change having to do with health insurance, if you didn't have health insurance last year, you don't have to pay a tax penalty. Before, under the Affordable Care Act. If you didn't have health insurance during the year for a certain amount of time, you would have to pay a penalty. But the new tax law that went into effect in 2017 eliminated that penalty starting last year.
The standard deduction also went up from last year to account for inflation. Now it's $12,200 for single taxpayers, $24,400 for married couples filing jointly and $18,350 for heads of household. If you do your taxes and you're really upset with how they turn out this year, say you got a really tiny refund when you wanted a bigger one, or even worse, you owe Uncle Sam some money and you don't want to do that next year, what you're going to need to do is adjust your paycheck withholdings. If you do that, you'll see that there is a new form for the paycheck withholdings, so that will be new to you.
Because it's new, it's going to be a little bit more difficult, but once you've done it and gotten the hang of it, it's actually pretty simple. My advice is to have your tax return handy so that you can plug in the numbers that the withholding form is going to ask for so that it can give you a very accurate reading on what you should withhold from each paycheck going forward. The IRS also has a paycheck withholding estimator, and what's really great about this calculator is that if you want to get a $5,000 refund, you can enter that and it will how to calculate what amount needs to be withheld from each paycheck so that you get that refund next year. And that's it for new changes this year for taxes.
This is Taxes Made Simple from Yahoo Finance and TurboTax. Please head over to Apple Podcasts and leave a five-star rating and review there. Until next time, thanks for listening.
Janna Herron:This is Taxes Made Simple by Yahoo Finance and TurboTax. I'm Janna Herron.
So what is a W-2? Basically, it's a tax document that shows the total wages and amounts withheld for federal and state taxes, Social Security and Medicare for the calendar year. You will also find employee benefits on your W-2. You use the form to help you fill out your tax returns correctly. That's why it's so important. A W-2 either comes in the mail, as an actual paper document, or you can access it online through your employer's payroll portal. So if you usually get your pay stub online, that's probably where you're going to find your W-2.
So what is in your W-2? So your W-2 has a whole bunch of different boxes and each box shows a different piece of your tax picture. So for example, box one that shows the taxable wages you earned from your employer during the whole year. Box two is the amount that your employer withheld from your paycheck for federal income taxes. It gets a little bit more complicated. So box eight is four tips. So if you work in a restaurant, or you're a bartender, and you get tips during the year, you'll see in an amount in box eight that your employer reported. But if you kept really good, accurate records of your tips during the year, you can actually ignore that amount and put what you calculate as your tips for the year. But you have to have really good records. Because if you don't and the IRS comes knocking, they will want to see proof. And if you can't provide it, then you're in trouble.
So there are other boxes still left. Box 10, you're employer helped to pay for your childcare as a benefit. You'll see that in box 10. If it's more than $5,000, then it's taxable. Then, in box 12 also shows other employee benefits you received during the year. You won't know what it is. There'll be a code in box 12 and for example, code D shows the amount of 401k contributions you made during the year. Code W shows the amount your employer contributed to your health savings account or HSA. Then, you have box 17, and that's the amount of state tax that was withheld from your wages during the year. So that's kind of a quick overview of what you'd find in your W-2. But here are some more important things you should remember. First, when should you get your W-2? Your employer must send it to you by January 31st, by law. If you don't get it by that point in time, then you need to contact your HR, or your payroll, or your boss, and find out where it is. Maybe they have the wrong address on file, for example, or something else went wrong.
You should also double-check your W-2 in case there were mistakes. It doesn't happen often, but a mistake can make things a little bit difficult for you down the road with the IRS. For example, if your employer forgot to include tens of thousands of dollars in wages, don't think you got away with a fast one. That's going to come back to haunt you at some point, so double-check the numbers. And the way you do this is to look at your final pay stub for 2019 and then compare that to your W-2 and make sure those numbers match up. In your pay stub, you should see year to date how much taxes were withheld, your total wages for the year, so those numbers should match up with what you see in your W-2.
When it comes to mistakes, one of the most common mistakes is either missing or misreported state and local taxes, especially if you live in one state, but you work in another state. On this point, if you do live in one and work in another, you should get W-2's allocated to each state. That should show your taxes to each state, which may include local taxes. For example, if you work in New York, but live in New Jersey, New York City has local taxes, so you should see that on the W-2 that you receive. If you see that your W-2 has mistakes, you need to do something about it. The best thing to do is contact your payroll department or whoever at your employer to let them know that you think there's a mistake. It's easier to fix a W-2 than to file an incorrect tax return and have to go back and amend it.
I think one of the biggest things to remember is you don't want to fudge the numbers. You want the numbers that you put on your tax return to match the ones on your W-2. Why is this? Because the IRS also gets a copy of your W-2, so they're expecting you to report the same thing that shows up on your W-2 if you don't, you'll probably get a letter from the IRS and it also could delay your tax refund if you're expecting one. And that's all we have for W-2's.
This is Taxes Made Simple from Yahoo Finance and TurboTax. Please head over to Apple Podcasts and leave a five-star rating and review there. Until next time, thanks for listening.
Janna Herron:This is Taxes Made Simple by Yahoo Finance and Turbo Tax. I'm Janna Herron.
Tax credits and tax deductions. What's the difference between them? Both a tax credit and a tax deduction are very helpful on your tax returns, helps you to save money, but they do it in different ways. It's important to understand how they do it.
A tax credit is the most beneficial and that's because it's giving you a dollar for dollar reduction of your tax liability. For example, a tax credit that's valued at $2,000, such as the child tax credit, lowers your tax bill by $2,000. That's great.
A tax deduction also lowers your tax bill, but not one for one. It depends on your tax bracket, how much you'll get out of a tax deduction. If you fall into the 12% tax bracket, a $1,000 deduction saves you $120.
There are important differences among tax credits as well. There's a tax credit that is called nonrefundable. What that means is if you don't owe very much in taxes and you get a tax credit, but it takes you below zero on your tax bill, you're not going to get a refund of the difference. For example, say you have an $800 tax bill and you get a $1,000 nonrefundable credit, that doesn't mean that you're going to get $200 back from the government. That's a nonrefundable credit.
But there are some credits that are refundable. That means that if you have that $800 tax bill, you get a $1,000 tax credit and it's refundable, you get $200 back from the government. Some of the most popular refundable credits are the earned income tax credit, also called EITC and the child tax credit.
The IRS has specific requirements for you to qualify for both nonrefundable and refundable credits, so you need to look into that.
Then there are deductions. There several different types of deduction. The big one that you're probably familiar with, as most taxpayers are, is the standard deduction. It's the one-size-fits-all reduction in the amount of your taxable income. You don't really have to do anything to qualify for the standard deduction. You just can take it. For single taxpayers this year, it's $12,200; for those married filing jointly, 24,404; and for heads of household, it's $18,350. You can claim the standard deduction on your regular form 1040, which is the basic tax form that you use.
Other deductions that you might take, you have to itemize your taxes. You don't take the standard deduction in this case. You will be taking all these other smaller deductions that should add up to more than the standard deduction for it to be beneficial for you. There is a deduction for the state and local taxes that you pay. That's capped at $10,000, which is the second year that it's been capped. There is a deduction for the mortgage interest that you pay during the year. There's a deduction for medical expenses. As long as you spent enough on your medical expenses during the year to reach the threshold, then you can deduct some of those costs. Everybody's probably heard of a deduction for charitable donations. That also exists. If you end up itemizing your deductions, it's going to be a little bit more work when it comes to filing your taxes because you have to make sure you have the required documentation for all of those things, such as the mortgage interest. You need to know how much mortgage interest you paid during the year. You have to have documentation that you donated so much to a charity.
For those of you who are self-employed, deductions are probably very important to you. Anything that you spent on your business can be deducted. For example, if you use a room in your house as your office, a certain amount of your heating bill, a certain amount of the mortgage that you pay or rent that you pay, may be deductible. If you have a phone line that's dedicated to your business, also, that cost can be deductible.
Over the years, there've been very interesting deductions that people have taken and that the IRS approved. For example, a Wisconsin bodybuilder deducted almost $14,000 for the cost of body oils, including a tanning product. This was from 1999 to 2001, because it helped his career. The US tax court okayed these business expenses because they were used for his business.
It's really important to make sure that the deductions you make are not exaggerated and that you do have that proof. Anytime deductions that are a little bit higher than they should be will raise the eyebrows at the IRS, especially if you fudge the mortgage interest that you paid or charitable contributions. The IRS will definitely lookout for that. Agency uses statistical algorithms to make sure that your deductions are in line with your income. If they're too high, they may send a letter asking for more documentation. This is especially true when it comes to business expenses. People seem to think that there's a lot of wiggle room when it comes to reporting that. You don't want to claim more deductions than your profits, for example, or writing off 100% of an item as a business expense that is often used personally, such as your cellphone or your car. That also will be a red flag to the IRS. That's all for tax credits and deductions.
This is Taxes Made Simple from Yahoo Finance and Turbo Tax. Please head over to Apple Podcasts and leave a five-star rating and review there. Until next time, thanks for listening.
Janna Herron:This is Taxes Made Simple by Yahoo Finance and TurboTax. I'm Janna Herron.
What are the tax brackets for this year? In general, I think tax brackets are a little confusing because they're not just flat rates. Let's go over what the tax brackets are this year. Maybe then, I can explain how tax brackets work.
What are the tax brackets this year? Tax brackets are pretty complicated. It's not just a flat rate. We'll get into that in a minute. The easy answer is there are seven federal tax brackets. This is how it goes. It depends on your filing status, so whether you're filing as a single, married, filing jointly, or as a head of household.
The seven rates are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The easiest tax bracket to understand is 10% or the lowest one. If you're a single taxpayer, and you make less than $9,700, your tax rate on that entire amount is 10%. If you make more than that, say you make $15,000, the first $9,699 will be taxed at 10% which is the lowest tax bracket. Then the remaining amount will be taxed at the next highest tax bracket which is 12%.
Which tax bracket you belong in depends on both your income and whether you file as a single taxpayer, a married but filing jointly, or head of household. The income thresholds are different for those three types of taxpayers. Let's start with a single taxpayer.
The lowest tax bracket is 10%. Those who make under $9,700 pay that 10% tax rate. Single taxpayers who make between $9,700 and $39,474 are subject to the 12% tax rate. Single taxpayers who make between $39,475 and $84,199 are subject to the 22% tax rate. For those who make between $84,200 and $160,724 are subject to the 24% tax bracket. Those making between $160,725 and $204,099 are subject to the 32% tax bracket. Single taxpayers who make between $204,100 and $510,299 are subject to the 35% tax rate. Those who make over $510,300 are subject to the 37% tax rate.
What's important to remember is that if you're in a higher tax rate, not all of your dollars that you earn are taxed at that rate. That would be a flat rate type of taxation. In the United States, we have a progressive tax rate. I'm going to break it down really, really easily.
Let's say you make $100,000, and your first tax bracket is at 10% up to $25,000. The second tax bracket is 12% up to $75,000. Then your last tax bracket is 15% up to $100,000. So you don't pay 15% on all of your $100,000 that you make. On the first $25,000 that you make, you're subject to the 10% tax rate. Then the earnings between $25,001 to $75,000 is subject to the 12% tax rate. Then everything else up to $100,000 that you've earned in a year is subject to the 15% tax rate.
The income thresholds for heads of households are higher than those for single taxpayers for each of the tax brackets. They're even higher for the married individuals filing joint returns for each of their tax brackets. That's because you have two people filing a joint return. The income thresholds usually change year by year to adjust for inflation. So what the income threshold for your tax bracket this year may not be the same as next year. Also, if you get a raise, a new job, a promotion, or your spouse starts to work, that might throw you into a higher tax bracket. You'll see your taxes go up. That's all for tax brackets.
This is Taxes Made Simple from Yahoo Finance and TurboTax. Please head over to Apple Podcasts and leave a five-star rating and review there. Until next time, thanks for listening. || Just because your FICO credit score is high doesn't mean you should start borrowing: Youve heard stories about the wealth gap, the gender pay gap and even the income gap at large, but now due to a recent credit scoring change, you may officially live in the world of credit score gaps. Fair Isaac, the company behind FICO scores, is changing how credit scores are calculated, thus affecting who gets a loan and who doesnt. And while many consumers are not going to be happy with the results of the change, the changes are being made to help prevent consumers from getting crushed when the economy swings in the less preferred direction. Heres what Ive learned in over 20 years in the financial industry people care way too much about their credit scores and people hate being told no. Your credit score helps financial institutions determine whether or not they want to risk loaning you money. Theoretically, if you have a high credit score, theres just a small chance you wont be able to pay the lending institution back and on-time. While if you have a lower credit score, its more likely you may struggle to pay the lender back and on-time. These are the basics. However, over the last 30 years or so, something strange has happened. Americans have conflated the ability to borrow with financial success. When a person has a high credit score, they often convince themselves the high credit score means theyre financially healthy. Nothing can be further from the truth. Can they more easily qualify to buy a home? Sure. Does the ability to buy a home make the decision to buy a home a good financial decision? Absolutely not. Believe it or not, lenders want you to borrow, even when you objectively shouldnt. This is a surprisingly tough concept to understand. There is an amount of money you objectively should borrow, and the bank will let you borrow that amount. There is also an amount of money you objectively shouldnt borrow, and many lenders will let you borrow that amount too. In fact, lenders encourage you via marketing campaigns to borrow money you shouldnt objectively borrow. They know you hate being told no, and they are going to lend you money until they are absolutely forced to tell you no. Story continues While I dont agree with this approach to lending, I dont necessarily blame the lenders. Borrowers must understand the difference between what they can and cant afford to borrow. Just because Im allowed to eat at an all-you-can-eat buffet for four hours, doesnt mean I should. So heres the good news that might bother you. With the new scoring system, FICO scores will be more difficult to maintain for those with moderate to poor finances, while consumers with good scores will benefit greatly when they continue to exhibit excellent credit behavior. The result will be a wider credit score gap for the haves and the have-nots. This will undoubtedly infuriate people. Finance tips: 3 things you can do in 2020 to get your finances in shape for retirement Banks, Bitcoin, bond funds: Where is your money safe in an era of cyber attacks? It shouldnt. For years now, lenders have been trying to grow their pool of borrowers. This is not unique. Lenders do that from time to time. But now lenders have indicated theyre looking to remove excess risk from the same pool they just grew. Why? One theory suggests the popularity of using personal loans to payoff credit card balances has led to an increasing number of borrowers running their credit card balances right back up, while still owing on the personal loan. As you can imagine, these increased debt levels lead to late payments and, eventually, defaults. As consumer habits evolve, so must the standards in which the risk of borrowers must be evaluated. The prevalence of the credit improvement industry is, at times, nothing more than tricking lenders into thinking youre a lower risk than you really are. When this happens, the lender isnt the only entity that ends up with the short-end of the stick. The borrower suffers too. I remember speaking to a man with $90,000 in credit card debt who wasnt at all alarmed because his credit score was still high and if the bank thought (he) was in bad shape, theyd deny (him). Minutes later he told me the $4,000/month minimum payments were crushing him. You must separate your credit score and your financial health. If you dont, you can be tricked into ruining your financial stability. The new credit score changes will actually protect out of control borrowers from themselves. However, the protection will come in the form of the word no, therefore it wont be well received. This article originally appeared on USA TODAY: FICO credit score tips: Don't borrow just because your score is high || Hyperledger’s Brian Behlendorf Says Blockchain’s Potential Is ‘Hitting a Tipping Point’: Last December, Hyperledger Executive Director Brian Behlendorf said 2019 was a year of “careful, prosaic BUIDLING.” Now, in an interview with CoinDesk’s Michael Casey in Davos, Switzerland, Behlendorf says a lot of what the blockchain ecosystem was building is getting closer to becoming a net positive for the world. Citing “double-digit” blockchain usage in the diamond trade for tracing provenance, a variety of blockchain-based digital identity projects and the rise of the central bank digital currency (CBDC), Behlendorf painted an upbeat picture of a technology moving quietly from concept phase to “in-production” deployment. “At this point, there have been enough pilots. There’s a path here through this technology to production employment,” he said. Related: ‘Key Milestone’ for Hyperledger as Fabric Blockchain Platform Reaches 2.0 Release By using tools like digital identity and secure transactions, Behlendorf believes many of the biggest problems of the day can, in some ways, be improved. “We’re moving towards much more self-managed, self-sovereign distributed digital identity, which would not have been possible without distributed ledger technology. I know that’s a big recurring theme here that we’re hearing, and now you’re seeing legitimization in the form of the central bank’s recognizing the technology inside. So I’m feeling a tipping point,” he said. The annual event in Davos, he said, is the right place to get government and business leaders to engage on such projects. “I worked for the World Economic Forum for two years as chief technology officer so I’ve been coming here for quite a while,” he said. “The forum itself was founded on these idealistic notions of making the world better.” Related: WEF Launches Global Consortium for Crypto Governance The goal, said Behlendorf, was to build consensus around pressing issues. He sees parallels to this mission in the blockchain. “[You get] people in a room around a table from all sorts of different sides of an issue, get them to talk about how you get out of a thorny systemic problem and come out of that room with a consensus view of how to fix things, right?” he said. “That’s kind of blockchain in a nutshell.” Related Stories Davos, CBDCs, and the Rise of Bitcoin Art Notes From the WEF: Oil-Producing Nations Want Dollar Alternatives, Just Not Bitcoin || Why Lightning Payments Aren’t Clicking for Porn Companies (Just Yet): Bitcoin may finally achieve broader traction through the adult entertainment industry in 2020, but the chips aren’t stacked in its favor. So far, typical sex industry businesses like London’s 23 Paul Street strip club, said in June the venue stopped accepting bitcoin because customers simply weren’t paying with it. But the lightning network, a layer on top of bitcoin used for faster transactions with lower fees, may now be ready to facilitate broader payments for online platforms. Iterative Capital’s Escher project offers fiat on-ramps to the lightning network, with other projects like Zap offering similar functionality. There are now service providers to feed a fledgling demand for lightning channels. Related: Deutsche Bank Says Digital Currencies Could Be Mainstream in 2 Years According to Veronika Mishura, marketing manager at the payment processor CoinGate , her startup processed 1,400 lightning invoices in 2019 for clients like adult industry sites LiveJasmin and CooMeet, with the average payment being worth around 12 euro. A LiveJasmin spokesperson confirmed the site does receive lightning payments for porn, although he declined to specify details. “We don’t offer payouts in crypto and we don’t track the content per payment method,” he added. There is certainly room for growth in the adult entertainment industry, as Pornhub famously had trouble paying performers with PayPal in 2019 and now lets performers cash out with Tether instead. ZmnSCPxj, a pseudonymous bitcoin researcher who recently received a grant from Jack Dorsey’s Square Crypto, said he expects privacy-enhancing mixing services to become a more popular part of the lightning economy. “Improved privacy is always desirable and people will pay for such,” ZmnSCPxj said, adding that channel fees and transaction costs will be “minimal compared to mixer fees.” Related: What Are Lightning Wallets Doing to Help Onboard New Users? Blockstream’s lightning expert, Rusty Russell, said in Q1 2020 his team is “working on making our payment paths less predictable, which improves privacy,” along with setups that can help “businesses transition from ‘playing with lightning’ to ‘relying on lightning.’” Story continues He believes porn is an “obvious avenue” for lightning usage, given the high rate of credit card chargebacks. But, he added, “at the moment it makes more sense as an experiment for such sites given our small user base.” Bitrefill CCO John Carvalho, who formerly ran the adult entertainment company XO Media, said, “Lightning payments can work in the adult industry, but not in any major capacity any time soon.” Namely, Carvalho said, because video monetization software is expensive to build at scale and erotic content creators aren’t offered access to some popular site hosting services. Few service providers will work with porn companies (at least at the same rate), which contributed to why some started accepting cryptocurrency in the first place. But these sites generally use internal credit systems, accepting bitcoin or credit card payments for centralized credits. Spankchain CEO Ameen Soleimani said although his ethereum startup was “one of the first companies to put payment channels into production,” it promptly shifted gears because there’s still a lot of work to be done “around watch towers, wallet integrations, and merchant integrations before it can reach critical mass.” “While crypto natives gave us a lot of support for being payment channel pioneers, normal users couldn’t care less,” Soleimani told CoinDesk. “They want a product that just works, and with SpankPay we’ve discovered (or rediscovered) that 0-conf instant payments are the way to go for fiat-competitive checkout systems.” Still an experiment Some bitcoiners are still altogether skeptical about lightning. Regardless of payment channels, bitcoin itself has plenty of privacy kinks to work out. An anonymous Samourai Wallet co-founder, behind the privacy-focused bitcoin wallet that powers the Nodl mixing feature, said his own open-source team has “no interest in lightning” because mainstream adoption is a “poison pill.” (Perhaps as illustrated by the companies like LiveJasmin that don’t offer erotic performers the chance to hold their own crypto.) “Bitcoin is in danger of replicating the system it set out to destroy,” he said. “I also don’t see retail, mass adoption pickup. … That’s a blessing in disguise and we should embrace that.” Beyond adult entertainment, Mishura said CoinGate also processed payments for Habsak cafe in Oslo and usage is trickling down from tech experiments to rare customers. OpenNode’s head of marketing, Ryan Flowers, saying his startup processed over 68,970 lightning invoices received and 38,986 payments sent in 2019. Most lightning-oriented startups, including Carvalho’s Bitrefill and Flower’s OpenNode , are focused on expanding their pool of merchants in 2020. As it stands, lightning analytics site 1ML.com tallies at least 11,174 nodes online and a network capacity exceeding $7.8 million. That’s why lightning advocates believe broader commercial usage of the network, beyond isolated experiments, could be on the horizon. “The network is definitely becoming more liquid over time,” said developer Anand Patel, who earned roughly $3 a day over the past year by routing lightning payments. “If you’re going to pay a merchant, it makes sense that they don’t see your whole transaction balance or history.” So far, small groups of merchants accept lightning payments, mostly for the curiosity factor. But since those adult performers and adventurous merchants rarely cash out in crypto, it’s still too early to see any significant benefits. “Usability, thanks to something like [ lightning wallet ] Phoenix, is now good enough that more people can try it,” Bitcoin Core contributor Sjors Provoost said, noting that the last merchant rush followed the 2014 bull market, but hasn’t revived since. “So maybe, if there’s a price spike, we’ll see … more merchants trying it. Then we’ll see if it sticks.” Related Stories Pornhub Now Lets Models Get Paid With the Tether Stablecoin Why High-Profile Defections Aren’t Libra’s Biggest Challenge || How the Long Tail of the Coronavirus Might Slow Bitcoin’s Hash Power Growth: The coronavirus outbreak in China may impose a longer-term impact on the bitcoin network’s mining activity at a time when an estimated 65 percent of its computing power is located there. While Chinese miner manufacturers see rising demand for new equipment ahead of bitcoin’s scheduled halving in May, they estimate the disease may limit growth in bitcoin mining power if the situation isn’t resolved in the near future because it is difficult to expand or build new machines, according to Kevin Shao, general manager of Canaan Creative’s blockchain arm. Shao told CoinDesk that while there is little doubt miners can maintain the current level of computing power, there is a shortage of new mining machines. Related: Bitcoin News Roundup for Feb. 6, 2020 So far, almost every bitcoin miner maker in China – Bitmain, Canaan, MicroBT and InnoSilicon – faces delays in production and delivery. Bitmain and Canaan , the world’s top two miner makers by market share, have published notices saying the delay of after-sale services until Feb. 10. Customers want new, top-of-the-line mining models to expand existing mining facilities and replace older machines in anticipation of the bitcoin halving, currently expected to occur sometime in May 2020. “One of the most affected businesses is our mining machine production,” Abe Yang, chief operating officer at PandaMiner, told CoinDesk. Founded in 2013, the Shenzhen-based firm makes mining machines and provides computing power services with nine mining farms. Related: US Judge Dismisses Bitcoin Cash ‘Hijack’ Lawsuit Against Bitmain, Kraken “Not only us, most miner makers have been affected by the outbreak since their factories are based in cities like Dongguan and Shenzhen in Guangdong province,” Yang said. “During the extended vacation until Feb.10, almost all the production will be halted.” Meanwhile, the lockdown of the city of Wuhan has had a more direct impact on InnoSilicon, whose headquarters is located in the outbreak’s epicenter. Story continues “The delay currently has not affected our businesses that much since the extension [of the holiday break] will only be several days,” Shao said. “However, the impact could be much more significant if the outbreak continues for a longer period of time.” According to data from BTC.com, bitcoin’s mining difficulty – a measure of how hard it is to compete for mining rewards on the bitcoin network – posted 6.57 percent and 7.08 percent growth on Jan. 2 and Jan. 15, respectively. The growth rate dropped to 4.67 percent on Jan. 28 and is estimated to decline to 3 percent in about three days. Bitcoin’s mining difficulty adjusts itself about every 14 days – it goes up or down in positive correlation to whether there are more or less participants racing on the network. “The coronavirus outbreak timespan overlaps with bitcoin’s halving event. The dual factors are apparently affecting the maintenance of mining equipment as well as the delivery of new miners,” Wang Xin, marketing director of WhatsMiner maker MicroBT said in an interview. “As such, the recovery of bitcoin’s hash rate growth will be delayed.” Rising demand Hash power has more than doubled from around 50 EH/s compared to the same period of last year as bitcoin’s market price climbed over $9,000, according to Shao. “Second-hand miners [mostly older models like Bitmain’s AntMiner S9] that are aiming at a faster payback period, now have a larger risk as they enter a shutdown period ahead of the halving, compared to more powerful new models [like WhatsMiner M20 or AntMiner S17],” said MicroBT’s Wang. Based on f2pool’s profitability index , models like the most widely used AntMiner S9 would have a 30 percent gross margin at bitcoin’s current price with an electricity cost of $0.05 per kWh. However, a lower number of new miners could be good news for those that have already invested in mining equipment with facilities up and running. Existing miners could see more steady mining rewards because there wouldn’t be more competitors to enter the market due to the lack of new mining machines, Canaan’s Shao said. But he added that one way the outbreak would affect existing miners is that many mining machine providers might not be able to offer timely post-sale services to fix malfunctioned devices. Logistics issues Wang said assembly factories have delayed their return-to-business schedule, citing the Chinese government’s extension of the Lunar New Year. Businesses in the country have been ordered shut until at least Feb. 10. This is not a crypto-specific issue either. Reuters reported Monday iPhone sales may take a hit because of the coronavirus, if the health emergency can not be contained in the near future. Shao said one of his company’s concerns is slowing logistics, adding, “while we can make all the plans to prepare for the outbreak on our part, logistics is something we can’t control.” Local infrastructure now prioritizes distributing necessities and supplies to those who are affected by the virus over less important deliveries, Shao said. Therefore, some of the customers who pre-ordered miners might not be able to receive the machines on time, and it will take longer to deliver new orders if the outbreak continues, Shao said. Even if employees all return to work, they cannot assemble miners unless their suppliers provide the necessary parts. “If the supplies can not be delivered on time, miner makers are not going to be able to assemble the production,” Shao said. One way companies can take advantage of their inventory is to run the machines themselves to offer computing power to their clients without selling the actual machines, Yang said. This assumes they have the necessary parts to complete assembling miners. “However, the service is not sustainable if the outbreak continues because we would eventually reach full capacity without new machines, creating a shortage in computing power,” Yang said. Mining farms Mining farms remain unaffected for the moment, but existing quarantine controls and the possibility of an extended outbreak may soon take a toll. Yang said PandaMiner is able to maintain operations for its existing farms, but there will be significant delays in constructing new farms. Two-thirds of the company’s employees did not go home for the Chinese New Year, and have instead been working at the mining sites. However, for those who did go home it will take weeks to return to work, Yang said. Many cities now require a two-week quarantine for people coming back from other areas before letting them go back to work, he said. For example, the Xinjiang autonomous region, an area that hosts a significant portion of mining farms due to its cheap electricity, has implemented strict policies to quarantine not only those coming back from the Hubei province, where Wuhan is located, but also any other province or region, Yang said. “We asked our employees to come back to Xinjiang as early as possible so that they can start the two-week quarantine and go back to work,” Yang said, noting policies may vary among different areas in China. The company’s mining farm in Guizhou is subject to a stricter policy. “We are allowed to let our employees work on site and can only keep a few people to maintain the operation,” he said. Sichuan province, which controls over 50 percent of bitcoin’s hashrate, also requires the two-week quarantine, according to Yang. The lack of on-site staff has already negatively impacted the management of mining farms, Yang said. Employees are responsible for ensuring mining machines are connected to the Internet and have a consistent supply of power. The employees would also need to fix broken circuit boards and other hardware to maintain operations, Yang said. “We usually have at least 10 people on staff to maintain a mining farm,” Yang said. “With much fewer employees, it is hard for us to keep as many machines running as before.” According to Yang, in some extreme cases where the local government prohibits all employees from working on site, companies need to negotiate with the government to leave two or three people on duty. Wolfie Zhao contributed reporting. Related Stories Listen to Elon Musk’s Latest EDM Beats on the CoinDesk Crypto Roundup Coronavirus Controls in China Are Delaying Crypto Miner Deliveries, Firms Say || British Court Freezes $860,000 in Bitcoin Linked to Ransomware Payout: A U.K. court has ordered Bitfinex to freeze bitcoin worth $860,000 after the crypto exchange and blockchain sleuthing firm Chainalysis traced the funds to a ransomware payment.
The victim of the ransomware attack had paid $950,000 in bitcoin to the perpetrator through an insurance company, according toa filing published last weekby the England and Wales High Court (Commercial Court) and first reported byNew Money Review. While some of the bitcoin was converted into fiat currency, the remainder appears to have been sent to an address on the Bitfinex platform.
The court ordered Bitfinex to freeze the address and share its know-your-customer (KYC) information about the account’s owner.
Related:Bitcoin Rallies to Near $9,150 as Stocks Drop Over Coronavirus Fears
The victim, an unnamed firm, had been told to pay $1.2 million in bitcoin after its computers were hijacked by ransomware. The company’s insurer, which filed the court claim, ultimately paid $950,000 in the form of 109.25 BTC, according to the filing. While some of these funds were converted into fiat and are not traceable, 96 BTC (worth $861,200at press time) were sent to an address owned by Bitfinex.
New Money Review claims this ruling marks the first instance of the U.K. High Court endorsing bitcoin as property.
In a statement, Chainalysis Director of Communications Maddie Kennedy said that “a leading cyber insurer used Chainalysis software to investigate ransomware payments made on behalf of their clients and trace the flow of funds from the point of extortion to known services such as exchanges.”
“A significant amount” of this ransom was tracked to a user on Bitfinex, and the insurance firm’s lawyers were able to successfully petition for a freeze on these funds, she said.
Related:Bitcoin Eyes $8.8K After Largely Erasing Last Week’s Dip
The filing confirms Chainalysis assisted in tracking the bitcoin.
Bitfinex and its parent firm, iFinex, are listed as defendants (“D4” and “D3,” respectively) in the filing. However, the exchange said in a statement it has been working with the claimant to trace the bitcoin and it is not now seen as being involved with the crime.
“Bitfinex has robust systems in place to allow it to assist law enforcement authorities and litigants in cases such as this,” the statement said. “We understand the focus of the Claimant’s attention is no longer on the Bitfinex platform. It now appears Bitfinex is an entirely innocent party mixed up in this wrongdoing.”
Spokespersons for the exchange declined to confirm whether Bitfinex had provided the KYC information for the account associated with the address. However, the court ruling stated Bitfinex would provide the information as long as it had a court order to comply with.
“It is fair to say that D3 and D4, at the moment at least, have cooperated with the claimant in the following sense, which is that in email correspondence they have indicated that they are not able to comply with any order to identify anyone associated with the account, absent a court order, but that it is their practice to comply with the court order for any national jurisdiction,” the ruling reads.
The judge has imposed a Jan. 18 deadline for Bitfinex to turn over the information. A search of the court database did not reveal any further filings on the case.
• Bad Actors Rent Hashing Power to Hit Bitcoin Gold With New 51% Attacks
• Bitcoin’s Halving Captures Growing Interest – Among Google Searchers || The Key to Bitcoin’s Future: Inflation: (Bloomberg Opinion) -- Bitcoin is back, sort of. The original cryptocurrency hasn’t regained the lofty highs of its bubble peak in late 2017, but it has climbed back up to about $10,000: Predictions that Bitcoin would collapse have not borne fruit. Despite its bubbles and crashes, the cryptocurrency is now a semi-permanent feature of the global financial landscape. What it is not, however, is a generally accepted currency. Although many retailers now accept Bitcoin, the overwhelming majority of day-to-day payments are done in regular old fiat currency. The mere fact that the dollar price of Bitcoin remains an important metric indicates that Bitcoin’s central value is as a speculative asset, rather than its usefulness as a medium of exchange. It’s fairly obvious why. Because of Bitcoin’s price volatility, people don’t want to hang onto it for very long. No one wants to get their paycheck only to find that it has halved in value by the time it comes to buy groceries. Also, optimists who think Bitcoin’s value will continue to go up on average over time will be reluctant to part with it in exchange for something ephemeral like a pizza; better to hang onto the BTC and buy pizza with depreciating dollars instead. (Disclosure: I still own a small amount of Bitcoin.) In fact, these two reasons are just different sides of the same coin: Basic finance theory says that in a reasonably efficient market, high expected returns come at the expense of high volatility. An asset like Bitcoin, or the U.S. dollar, can be a good investment or can be good for buying stuff, but unless the economy is deeply dysfunctional, it can’t be both. Some economists, however, are thinking about how this situation might change, and whether Bitcoin — or some alternative cryptocurrency — might actually replace fiat money as the standard means of payment. This has big policy implications, because if it did become real money, cryptocurrency could interfere with central banks’ ability to manage the economy and the price level. It also matters for crypto investors’ wallets. Story continues One possibility is that nothing needs to be done, and eventually Bitcoin will settle into a new low-volatility equilibrium, making it more suitable as a means of payment. Economists Michael Choi and Guillaume Rocheteau have made a model in which this happens. The problem is that the model sees Bitcoin competing with other commodity-like forms of money, such as gold or other cryptocurrencies. Their result relies on the idea that liquid assets will always be in short supply. In reality, Bitcoin is competing against fiat currencies that can be produced more or less costlessly. A more plausible prediction comes from economists Jonathan Chiu and Thorsten Koeppl. Like other economists who have theorized about Bitcoin, they view cryptocurrency’s fundamental challenge as that of preventing double-spending — in other words, verifying electronically that someone really has the money when they make a payment. This issue of digital trust, after all, is the problem Bitcoin was designed to solve. Chiu and Koeppl suggest that to become useful as a form of money, a cryptocurrency should be inflationary. The people who verify Bitcoin transactions, called miners, are now compensated for their usage of computing power by being awarded new Bitcoins, but the rewards are decreasing over time. One of the basic ideas of Bitcoin, which stems partly from the hard-money beliefs of its creators, is that the cryptocurrency should be deflationary — that its supply should be limited, and its value should increase over time due to increasing scarcity. This means that eventually, miners will have to be rewarded with transaction fees instead of new Bitcoins. Chiu and Koeppl say this is a bad idea. Transaction fees, they note, are levied on a small population — that is, whoever is doing the transaction. To make it worth the miners’ while, the fees must be very high, which discourages people from transacting in Bitcoin. If miners are instead paid with inflation, the cost gets spread out among everyone who owns Bitcoin. Also, transaction fees make a double-spending attack more potentially lucrative, because creating a fake transaction would also save money on the fee. Thus, they recommend sticking with the inflation method of payment, and letting cryptocurrency depreciate over time like the U.S. dollar does. This could be exactly what cryptocurrency needs in order to turn into real money. Negative expected returns — essentially, a low and stable inflation target — would make Bitcoin less attractive as a long-term investment. Instead of hoarding it, people would be fine getting rid of it in exchange for pizza. The currency’s value might then stabilize, as speculation decreased. Abandoning the dream of deflationary digital gold might be hard for Bitcoin’s adherents to accept. But other cryptocurrencies, such as ZCash, Monero, Dash or Facebook Inc.’s Libra might step in to fill the gap. Of course, they would still have to overcome the technical problem of being able to handle large transaction volumes as cheaply and easily as a credit card company, but Chiu and Koeppl are confident that this is possible. So ironically, cryptocurrency might only become a currency if it acts more like the U.S. dollar, with a low but predictable inflation target. To contact the author of this story: Noah Smith at nsmith150@bloomberg.net To contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.net This column does not necessarily reflect the opinion of Bloomberg LP and its owners. Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion. For more articles like this, please visit us at bloomberg.com/opinion Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9924.52, 9650.17, 9341.71, 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/11/19: Bitcoin Cash ABC rose by 0.88% on Tuesday. Reversing a 0.69% fall from Monday, Bitcoin Cash ABC ended the day at $292.78.
A bullish start to the day saw Bitcoin Cash ABC rise to an early morning high $292.95 before hitting reverse.
Falling short of the first major resistance level at $295.90, Bitcoin Cash ABC slid to a mid-morning intraday low $286.37.
Steering clear of the first major support level at $285.90, Bitcoin Cash ABC rallied to an early afternoon intraday high $298.44.
Bitcoin Cash ABC broke through the first major resistance level at $295.90 before easing back.
Falling short of the second major resistance level at $300.45, Bitcoin Cash ABC eased back to $292 levels.
At the time of writing, Bitcoin Cash ABC was up by 0.99% to $295.68. A mixed start to the day saw Bitcoin Cash ABC fall to an early morning low $290.68 before striking a high $297.05.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move back through to $297 levels would support a run at the first major resistance level at $298.69.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from Tuesday’s high $298.44.
Barring an extended rally through the day, Bitcoin Cash ABC would likely come up short of $300 levels for a 3rdconsecutive day.
Failure to move back through to $297 levels could see Bitcoin Cash ABC hit reverse.
A fall through to $292.50 levels would bring sub-$290 levels into play before any recovery.
Barring a broad-based crypto sell-off, however, Bitcoin Cash ABC should steer clear of the first major support level at $286.62.
Litecoin rose by 2.85% on Tuesday. Following on from a 5.23% rally on Monday, Litecoin ended the day at $63.16.
A mixed start to the day saw Litecoin fall to a mid-morning intraday low $60.79 before finding support.
Steering clear of the first major support level at $58.63, Litecoin rallied to a late afternoon intraday high $64.20.
Litecoin broke through the first major resistance level at $63.52, to visit $64 levels for the 1sttime since 26thOctober.
A late pullback saw Litecoin fall back through the first major resistance level at $63.52.
At the time of writing, Litecoin was down by 0.55% to $62.81. A bearish start to the day saw Litecoin fall from an early morning high $63.23 to a low $62.62 before finding support.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, Litecoin would need to steer clear of sub-S62.70 levels to support a rebound later in the day.
A move back through to $63 levels would support a run at the first major resistance level at $64.64.
Litecoin would need the support of the broader market, however, to break back through to $64 levels.
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $64.2 would likely cap any upside.
Failure to steer clear of sub-$62.70 levels could see Litecoin test the first major support level at $61.23.
Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$61 levels.
Ripple’s XRP rose by 0.37% on Tuesday. Following on from a 3.15% rally on Monday, Ripple’s XRP ended the day at $0.30160.
A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.30663 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.30490 before sliding to a mid-morning intraday low $0.29611.
Steering clear of the first major support level at $0.2931, Ripple’s XRP bounced back to $0.30 levels to close out the day in the green.
At the time of writing, Ripple’s XRP was down by 0.61% to $0.29975. A bearish start to the day saw Ripple’s XRP slide from an early morning high $0.30166 to a low $0.29778.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move back through to $0.3015 levels would support a run at the first major resistance level at $0.3068.
Ripple’s XRP would need the support of the broader market, however, to break out from the morning high $0.30166.
Barring a broad-based crypto rally on the day, Tuesday’s high $0.30663 and first major resistance level would likely limit any upside.
Failure to move back through to $0.3015 levels could see Ripple’s XRP slide deeper into the red.
A fall back through the morning low $0.29778 would bring the first major support level at $0.2963 into play.
Barring an extended sell-off through the day, however, Ripple’s XRP should steer clear of the second major support level at $0.2909.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• U.S. Dollar Index Futures (DX) Technical Analysis – Next Upside Target 98.095 to 98.380 || Galaxy Digital to Launch 2 New Bitcoin Funds in November: Galaxy Digital Asset Management, a division of the merchant bank Galaxy Digital, is launching two bitcoin funds in November, according to a source with direct knowledge of the matter.
Headed by billionaire ex-hedge fund manager Michael Novogratz, Galaxy is offering the funds to give accredited investors low-fee, institutionally managed bitcoin exposure and will make a seed investment into both funds. Novogratz hinted that the funds were in the works onCNBC.
The Galaxy Bitcoin Fund will require a $25,000 minimum investment with optional quarterly redemptions. The Galaxy Institutional Bitcoin Fund will allow weekly withdrawals and require minimums higher than $25,000. Both funds will offer professional oversight of bitcoin storage, tax documentation, and client service support.
Paul Cappelli is the portfolio manager for both funds, though they will be passively managed, meaning the investments (in this case, bitcoin) are automatically selected. Galaxy’s asset management division is led by Steve Kurz.
It is unclear how much money Galaxy aims to raise from investors for either fund.
Currently, Galaxy Digital offers the Galaxy Crypto Index Fund, which provides exposure to the largest cryptocurrencies by market cap by tracking the Bloomberg Galaxy Crypto Index.
Michael Novogratz image via CoinDesk archives. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 18/10/19: Bitcoin Cash ABC rose by 2.19% on Thursday. Reversing a 2.18% fall from Wednesday, Bitcoin Cash ABC ended the day at $219.23.
A mixed start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $214 before finding support.
Steering clear of the first major support level at $212.54, Bitcoin Cash ABC rose to a late afternoon intraday high $220.6.
Bitcoin Cash ABC came up short of the first major resistance level at $223.68 before easing back to $218 levels.
A bullish end to the day left Bitcoin Cash ABC at $219 levels.
At the time of writing, Bitcoin Cash ABC was up by 0.33% to $219.95. Bucking the trend early, Bitcoin Cash ABC rose to an early morning high $219.95.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, Bitcoin Cash ABC would need to hold onto $219 levels to support further upside on the day.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to take a run at the first major resistance level at $221.89.
Barring a broad-based crypto rally, however, Thursday’s high $220.6 would likely pin Bitcoin Cash ABC back.
Failure to hold onto $219 levels could see Bitcoin Cash ABC hit reverse. A fall through to sub-$218 levels would bring the first major support level at $215.29 into play.
Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of the second major support level at $211.34.
Litecoin rallied by 4.65% on Thursday. Reversing a 3.76% slide from Wednesday, Litecoin ended the day at $54.95.
A bearish start to the day saw Litecoin fall to an early morning intraday low $51.82 before making a move.
Holding above the first major support level at $50.64, Litecoin rallied to a late afternoon intraday high $55.20.
Litecoin broke through the first major resistance level at $54.87 before easing back to $54.2 levels.
A late mini-rally saw Litecoin break back through the first major resistance level ahead of the day end.
At the time of writing, Litecoin was down by 0.56% to $54.64. A bearish start to the day saw Litecoin fall from an early morning high $54.98 to a low $54.52.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high to $55 levels would bring the first major resistance level at $56.25 into play.
Litecoin would need the support of the broader market, however, to break out from Thursday’s high $55.2.
In the event of another crypto rally, the second major resistance level at $57.56 could come into play before any pullback.
Failure to move back through the morning high to $55 levels could see Litecoin fall deeper into the red.
A fall through to sub-$54 levels would bring the first major support level at $52.59 into play before any recovery.
Barring an extended sell-off through the day, however, Litecoin should steer clear of the second major support level at $50.24.
Ripple’s XRP rallied by 6.33% on Thursday. Reversing a 1.76% fall from Wednesday, Ripple’s XRP ended the day at $0.30237.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.28057.
Steering clear of the first major support level at $0.2781, Ripple’s XRP rallied to a mid-afternoon intraday high $0.30478.
Ripple’s XRP broke through the first major resistance level at $0.2917 and second major resistance level at $0.2990.
A pullback to $0.2960 levels was short-lived, with Ripple’s XRP finding late support to close out the day at $0.30 levels.
At the time of writing, Ripple’s XRP was down by 0.69% to $0.30028. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.30276 to a low $0.29910.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, Ripple’s XRP would need to hold onto $0.30 levels to support a run at the first major resistance level at $0.3112.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from Thursday’s high $0.30478.
Barring a broad-based crypto rally later in the day, Ripple’s XRP would likely fall short of the second major resistance level at $0.3201.
Failure to hold onto $0.30 levels could see Ripple’s XRP fall deeper into the red. A fall through the morning low $0.29910 would bring the first major support level at $0.2870 into play.
Barring an extended sell-off through the day, Ripple’s XRP should steer well clear of sub-$0.28 support levels.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Froth On ? || CoinGecko Now Tracks Data From 20-Plus Crypto Derivatives Markets: Cryptocurrency data aggregator CoinGecko has added a new service tracking the growing number of crypto derivatives products.
The firm’s derivatives tracker currently lists some 100 products such as perpetual swaps and futures from over 20 derivatives exchanges, the firm said in a press release, and covers data points such as price, interest, basis, funding rates, expiry dates and trading volume.
Listed derivatives can also be viewed in three separate ways, including by isolating products from specific exchanges.
Related:Bitcoin Eyes First Monthly Price Gain Since June
CoinGecko CEO TM Lee said the firm anticipates adding more metrics in the future, including options and leveraged tokens offered by various exchanges:
“We hope to empower traders with more data that they can use to make better-informed decisions. We are excited about the potential growth of crypto derivatives and look forward to further democratizing data access as we continue to commit to the maturation of the digital asset space.”
The service does not list products from notable derivatives providers such as CME and Bakkt, as yet. The firm told CoinDesk that was down to the need for a reliable API for the data and the exchanges would likely be added soon.
CoinGecko’s new dataset follows the Septemberoverhaulof its “Trust Score” metric for exchange transparency. Originally launched in May 2019, Trust Score was a response to areportfrom financial firm Bitwise, which claimed 95 percent of crypto exchanges were involved in wash trading or other methods to obfusicate real trading volumes.
Related:Key Indicator Turns Bullish as Bitcoin Struggles to Break Above $10K
With its new offering, CoinGecko joins data provider Skew as one of few services to offer traders an easy way to monitor derivatives based on cryptocurrencies. The firmlaunchedits skewAnalytics service in late September as it announced the raising of $2 million in seed funding from venture capital firms including Kleiner Perkins.
CoinGecko co-founder Bobby Ong image via CoinDesk archives
• Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise
• Bitcoin Leads Momentum as Top Cryptos Trade Below Key Price Average || Bitcoin trail helps authorities bust child porn site: Even as it has gained mainstream traction, Bitcoin remains popular among crime syndicates and nefarious multinational operations. The cryptocurrencys pseudonymous nature, coupled with its transnational reach, appeals to criminals conducting illicit businesses across borders. Bitcoin was, in fact, the main transaction mechanism at Welcome to Video (WTV), a child pornography site that authorities in the United States and South Korea busted earlier this week. But it was Bitcoins blockchain that also provided a trail of digital crumbs that enabled authorities to take down the website. Aided by software from crypto forensics startup Chainalysis, law enforcement officials were able to identify the mastermind and users of the site. The site, which operated on the Darknet , was run by 23-year-old South Korean Joong Woo Son and distributed more than 1 million sexually explicit videos of minors. Son is currently serving an 18-month sentence in prison in his native country. U.S. Treasury: crypto could be next frontier in the war on terror Three hundred and thirty-seven individuals from multiple countries across the globe, including Brazil, United Kingdom, and Saudi Arabia, have been arrested for being users of the site and downloading material from it. Within the United States, 92 individuals have been arrested in connection with the crackdown and 23 minor victims have been identified. A civil forfeiture claim to recover money from crypto exchanges which facilitated transactions for the site has been filed by prosecutors. They intend to distribute the claims back to the victims. How did Bitcoin grease operations at WTV? Bitcoin was among the payment modes available to users at WTVs site. According to the indictment, customers could create VIP accounts, offering unlimited downloads for six months, by paying 0.3 bitcoin. They could also download videos incrementally by paying 0.02 bitcoin for each video. Welcome to Video directed customers to particular cryptocurrency exchanges to make payments. Interestingly, the list of exchanges which facilitated the sites payment transactions includes some prominent names, including Hong Kong-based Bitflyer and U.S.based exchanges Kraken and Poloniex, according to Chainalysis's data. Story continues WTV registered each user with a separate Bitcoin address. The indictment states that the site was responsible for creating 1.3 million Bitcoin addresses. The volume of address activity is also testament to WTVs income. According to the indictment, the site received, at least, 420 bitcoin through 7,700 transactions between June 2015 and March 2018. Cumulatively, the transactions were worth $370,000 at the time they were conducted. How did authorities track down WTV Users? Crypto forensics firm Chainalysis played an important role in nabbing users of the site. The New York-based startups software Chainalysis Reactor was used by the authorities to investigate the flow of funds from WTV to numerous exchanges spread throughout the world. Crypto exchanges, which generally onboard users with know-your-customer (KYC) processes, provided relevant identification information to the authorities. Chainalysis software was also used to identify and drill down to region-specific users. Through the sophisticated tracing of bitcoin transactions, IRS-CI special agents were able to determine the location of the Darknet server, identify the administrator of the website and ultimately track down the website servers physical location in South Korea, said IRS-CI Chief Don Fort. This is not the first time that Bitcoin has been implicated in a transnational crime. The cryptocurrency became infamous earlier this year for its use by Chinese drug lords to sell drugs that have fueled Americas opioid crisis. Chainalysis itself had come out with a report in June estimating that $1 billion worth of Bitcoin would be spent in Darknet transactions. The latest news of criminal elements involvement with crypto comes at a particularly inopportune time for Bitcoin, or cryptoassets on the whole, as the industry struggles for regulatory approval . || Binance.US to start accepting deposits for Stellar, Cardano, Ethereum Classic, BAT and 0x: Binance.US, the U.S. arm of the exchange giant, announced today that it will allow customers to deposit five additional cryptocurrencies. At launch tomorrow, the exchange will support six cryptocurrencies and one stablecoin - Bitcoin, BNB, Ethereum, XRP, Bitcoin Cash, Litecoin and Tether. It will start accepting deposits of five additional cryptocurrencies - Stellar, Cardano, Ethereum Classic, BAT and 0x. Binance.US started accepting deposits of the six cryptocurrencies and user registrations last week in preparation for its first trading day. Previously, the firm announced that residents from 13 U.S. states will be excluded from trading at launch, including New York. The platform will waive the transaction fee initially and start charging a 0.1% flat rate per trade after November 1. || Germany says Bitcoin is ‘not real money’: The German Federal Parliament has claimed that cryptocurrencies like Bitcoin are “not real money”. The statement on Monday was essentially a formal response to the growing international concern over the economic effects of Facebook’s Libra cryptocurrency after the government was questioned on the subject by the Free Democratic Party. The government clarified the basic features of money as a means of payment, a store of value, and a unit of account. The statement also points to the fact that the volume of payments carried out using crypto is limited when compared to fiat currencies. Is Europe against cryptocurrencies? As reported by Coin Rivet last month, a number of EU member states such as Germany, France, and the UK have all hardened their stances against cryptocurrencies. Some governments now seem as though they’re starting to fear the real power of cryptocurrencies, especially as a means to store value. In addition, the topic of cryptocurrencies – mainly stablecoins – was addressed at this year’s G7 summit in France. The G7 member states argued that due to their potentially large size and reach, stablecoins could also pose challenges to fair competition, financial stability, monetary policy, and – in an extreme scenario – the international monetary system. These challenges stem in part from the fact that stablecoins could one day transform from a cross-border payment solution to assets with money-like features. Are stablecoins facing harder regulation? Last month, finance ministers in France declared that they will “block Facebook’s Libra project” as it poses a threat to monetary sovereignty. Portugal’s finance minister Mourinho Félix also underlined his country’s aversion to the project in a recent interview , saying: “Portugal shares the concern of other European countries regarding Facebook’s cryptocurrency.” Moreover, an influential British parliamentary committee wants to “probe” Facebook’s controversial Libra cryptocurrency project amid fears that the social media giant’s move into the financial sector will grant it too much power. Story continues In particular, the UK parliament is concerned about Facebook’s ability to safeguard the personal financial details of billions of users after a string of controversial privacy scandals. Ministers in Germany have also expressed concerns over how Libra may develop within the EU, given it would take power away from monetary and fiscal policies. It’s not only Western countries that are up in arms about stablecoins either. Russia has claimed that it may ban Facebook and Telegram if the US decides to block the launch of Libra. According to President Vladimir Putin’s special representative for IT, Dmitry Peskov, if Libra launches without sufficient control measures, “the likelihood of Facebook being blocked ” will increase in Russia. Will cryptocurrencies eventually be blocked? At the moment, it is still too early to tell what will happen in the long term. From a historical perspective, crypto-enthusiasts should expect harder regulation and a firmer stance on the use of cryptocurrencies such as Bitcoin, or even stablecoins like Facebook’s Libra. Only time will tell how governments in the EU will react to the wider adoption of crypto coins. The post Germany says Bitcoin is ‘not real money’ appeared first on Coin Rivet . || Crypto Data Tracker Wants to Fight Fake Trading Volume: (Bloomberg) -- One of the leading data tracking services for cryptocurrencies has come up with a new metric that it says will better reflect real trading activity in an industry notorious for suspect volume figures.
CoinMarketCap’s Liquidity metric went live Tuesday, and will serve as the default barometer for ranking currency pairs and exchanges on the website, it said in a statement. The new metric draws on a wide range of factors such as order sizes and distance from the mid price. Calculations are made by polling the market pair at random intervals over a 24-hour period and averaging the result, which is measured in dollars.
CoinMarketCap, which was founded in 2013 and is one of the top sites for tracking crypto prices, hopes this methodology will help users better identify the most liquid markets for the more than 3,000 crypto assets listed on its website.
For one thing, an order that deviates significantly from the mid price on a marketplace is likely to be placed by the exchange operator itself to boost volumes, and thereby will be given a much lesser weighting when producing the Liquidity scoring, according to CoinMarketCap Chief Strategy Officer Carylyne Chan.
“When people are inflating their volumes, they are basically inserting orders into the order book, so they buy and sell to themselves,” Chan said in a phone interview. “What we are trying to do here is to counter that.”
The divergence is obvious. When it comes to reported volume, Singapore-based platform CoinBene was the top ranking exchange during the 24 hours through 7pm local time on Nov. 10, with $1.2 billion worth of trades, according to data provided by CoinMarketCap. But when using the Liquidity metric, Malta-based Binance was the No.1 exchange during the same period, with just half of the reported trades.
Crypto exchanges are generally subject to much less oversight compared with bourse peers in traditional assets. In a report to the U.S. Securities and Exchange Commission in March, fund manager Bitwise asserted that 95% of all Bitcoin trading volume tracked by CoinMarketCap is fake.
(Corrects to specify mid-price in the fourth paragraph.)
To contact the reporter on this story: Zheping Huang in Hong Kong at zhuang245@bloomberg.net
To contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Joanna Ossinger
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || Infrastructure Legislation That’s Actually Good For This ETF: This article was originally published on ETFTrends.com. Bipartisanship is hard to come by on Capitol Hill these days, but one issue that has the potential to unite politicians from both sides of the aisle, albeit temporarily, is infrastructure and that's goods news for some ETFs, including the FlexShares STOXX Global Broad Infrastructure Index Fund ( NFRA ) . NFRA tries to reflect the performance of the STOXX Global Broad Infrastructure Index, which identifies equities that derive the majority of revenue from infrastructure business, providing exposure to not only infrastructure sectors, but non-traditional ones as well. “But as politicians in Washington gear up for the 2020 election season, some think Republicans and Democrats have a good incentive to work together and finally pass an infrastructure bill,” reports CNN . “Concerns are growing about China's economic slowdown, and the trade war is hurting construction equipment giants Caterpillar and Deere.” In the infrastructure space, there is a never-ending need for investments to update or repair aging communication, transportation, water, and energy networks. According to the American Society of Civil Engineers, existing U.S. infrastructure is crumbling and in need of major investment. Additionally, infrastructure as an asset class has long-term viability Betting On NFRA Infrastructure developments are typically large, long in duration and capital-intensive, carrying a high overall cost. Nevertheless, the projects compensate investors by including fairly predictable expenditures to maintain the asset, as well as regulated pricing that typically provides stable and reliable cash flows. Select investors have long enjoyed the unique characteristics of infrastructure to diversify equity risk exposure, generate income and hedge against long-term inflation. “More funding for infrastructure could also boost blue-collar employment growth in the heartland. That's needed because the pace of job gains in the construction sector has flatlined in recent months ; the sector has added just 31,000 jobs since May,” according to CNN. Story continues NFRA's index focuses on long-lived assets in industries with very high barriers to entry, with at least 50% of their revenue from key sectors with 3-month average daily trending volume of at least $1 million. The portfolio is weighted based on a free-float market cap with certain constraints to limit exposure in any one security, sub-sector, or country. Additionally, the fund is rebalanced annually. Related: ETF Strategies That Can Help Meet the Challenges Ahead “Caterpillar and Deere executives also noted the increase in local infrastructure spending as a positive sign in their latest quarterly earnings conference calls with analysts,” reports CNN. “That's encouraging. But investors are clearly hoping that national politicians can put aside their differences and join states and cities by agreeing to commit more funding for infrastructure.” For more information on the infrastructure sector, visit our infrastructure category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs U.S. Markets Close in Red On Impeachment Inquiry Health Concerns Over Vaping Escalate As Walmart Pulls E-Cigarettes From Shelves Total Return Alternatives: Balancing Portfolio Risks When Even Junk Yields Less than 5% Bitwise Bitcoin ETF Ruling Expected Before Mid-October In the Know: Where Markets Stand in the Late-Cycle READ MORE AT ETFTRENDS.COM > || Tether Says Its Stablecoin Is Fully Backed Again: USDT tokens are now fully backed by Tethers reserves, the stablecoin issuer said Thursday. Tether published a response to what it described as a flawed paper written by John Griffin, a professor of finance at the University of Texas at Austin, and Amin Shams, an instructor the Ohio State University which claimed a single address on the Bitfinex exchange was responsible for manipulating the bitcoin market in late 2017, sparking the bull market. The paper was an update to a version first published in the summer of 2018. Tether pushed back on this claim, saying in Thursdays statement that the revised paper is a watered-down and embarrassing walk-back of the first version. Related: European Union to Regulate Stablecoins, Not Issue Its Own: Source Perhaps more intriguing, however, was the claim that All Tether tokens are fully backed by reserves. Whether or not USDT is fully-backed has long been a point of contention. The company has promised an audit of its stablecoin reserves (though it has not delivered one, and has since dissolved its relationship with its auditor), produced a third-party report saying it likely had more funds than outstanding tokens, and had a bank write a letter vouching for its holdings. (The latter two reports both acted as snapshots, only assuring the crypto community that on specific days, Tethers obligations did not exceed its assets.) Tethers backing is even the subject of an inquiry by the New York State Attorney Generals office . Nevertheless, Tether maintained that its tokens were fully backed until April 2019, when general counsel Stuart Hoegner wrote in an affidavit that USDT was backed by cash and cash equivalents
representing approximately 74 percent of the current outstanding tethers. Related: Kim Dotcoms Planned Token Sale Is Off, Says Bitfinex At the time, Tether held $2.1 billion in assets, with 2.8 billion USDT tokens issued on the Omni blockchain. According to a block explorer, this number has fallen since then to 1.775 billion. However, a further 2 billion USDT is in circulation as an ERC-20 token. Story continues Tethers Transparency page says the company currently holds more than $4.6 billion in total assets, including $4.56 billion in U.S. dollars, $44 million in euros and $3.3 million in Chinese renminbi (amounts are converted). In an email to CoinDesk, Hoegner said the outstanding tokens are currently backed by reserves, adding: According to the website and our terms of service, our reserves include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties. The 74% figure refers to particular assets at that point in time, not the aggregate reserves. He declined to detail the breakdown between Tethers actual cash holdings and the cash equivalents, saying we generally do not share the asset mix. Lack of understanding As for the actual paper that Griffin and Shams hope to see published in the Journal of Finance, Tethers statement Thursday said the authors demonstrate a fundamental lack of understanding of the cryptocurrency marketplace and the demand that drives Tether token purchases. The paper itself said its analysis for the single largest player on Bitfinex found that the 1 percent, 5 percent and 10 percent of hours with the highest lagged flow of Tether by this one player are associated with 55 percent, 67.2 percent and 79.2 percent of bitcoins price increase over our March 1, 2017 to March 31, 2018 sample period. The paper went on to say: This pattern is not present for the flows to any other Tether exchanges, and simulations show that these patterns are highly unlikely to be due to chance; this one large player or entity either exhibited clairvoyant market timing or exerted an extremely large price impact on Bitcoin that is not observed in the aggregate flows from other smaller traders. However, the paper suffers from having incomplete data, including insufficient data on capital flow or transaction timing, Tether said Thursday. As a result, the paper cannot establish a valid sequence of events for the claimed manipulation. Furthermore, the authors now admit that the patterns of trading they observed could be consistent with the market purchase of Tethers, as opposed to the issuance of unbacked Tethers. Importantly, the authors do not possess or reference any data disputing that Tether has sufficient reserves to back up Tether token issuances in circulation, the statement said. While the paper notes that some in the blogosphere and press have expressed doubts on whether Tether is fully backed, it adds that the cryptocurrency exchanges largely reject such concerns. However, it later says its model and results are generally consistent with Tether being printed unbacked and pushed out onto the market. The paper has received skepticism and pushback from the crypto industry, with Tether skeptic Bennett Tomlin calling it inconclusive. Tether logo image via Shutterstock Related Stories US Federal Reserve Hiring Retail Payments Manager to Research Digital Currencies Binance Said to Plan Beijing Office Amid Chinas Renewed Blockchain Push
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66
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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)]
Hardware Wallet Trezor Confirms Upcoming Cashaddr Support for Bitcoin Cash: There’s good news for Bitcoin Cash users as Trezor announces upcoming support for cashaddr, a BCH address format. The announcement is a significant development for Bitcoin Cash as support from the most popular hardware wallet could spell new money coming into the market, or at least increased security for those wishing to safeguard their investment carefully.
The news was announced over Twitter byBach N.of Trezor who posted a link fromJochen Hoenicke, lead developer of cashaddr #285.
Cashaddr was developed as a way of distinguishing between Bitcoin Cash and Bitcoin Core addresses, and while it was supposedly expensive to implement the change, the move has paved the way for further innovations.
Pavol Rusnackof Satoshi Labs is often credited with the change,saying“I suggest to change the address version to something different, so it is obvious the address is a Bitcoin Cash address. (It can start with C for example). Don’t forget to change also address version for P2SH!”
Bitcoin Cash developerAmaury Séchetresponded saying “Agreed. I have a plan to change the address format. Changing the address format is expensive, so I would like to investigate various other option than just changing the prefix before settling on something. I would also have to convince other in the space that this is a good address format.” This would eventually manifest as cashaddr.
In hisGithub post, cashaddr dev Hoenicke stated:
“This needs to be done outside the firmware for cashaddr support. Webwallet: compute cashaddr addresses from xpub. Note that only the last step from hashed public key to address needs to be changed. The webwallet checks that the address the Trezor returns is as expected. This check should also allow 1.. addresses so that it works with older firmware (so we don’t have to deploy both at the same time); allow cashaddr as send to address. The firmware supports both and both use SPENDADDRESS. The only difference is the confirmation message given to the user; the transaction format did not change at all.”
Hoenicke clarifies that the change will not affect the means of transaction and handles the issues such as the misleading address keys once and for all. Trezor follows Coinbase and Bitpay in integrating cashaddr, helping to develop community consensus and raise the profile of the altcoin. There is currently no timeline at the moment, so users waiting to store their BCH will have to make do with the beta wallet for now before entering true cold storage.
Featured image from Trezor.
The postHardware Wallet Trezor Confirms Upcoming Cashaddr Support for Bitcoin Cashappeared first onCCN. || What to Watch When IMAX Reports Earnings Next Tuesday: The past year has been an uncertain time for those invested in film exhibitors, with a combination of factors contributing to the doubt. The growing adoption of streaming, fears involving a potentially shrinking theatrical release window, and a weak slate of summer movies in 2017 all conspired to weaken demand and keep movie-goers at home last year. While all the major chains took it on the chin, IMAX Corporation (NYSE: IMAX) , the leading provider of premium large-format screens, was among the hardest hit. The stock was down 26% last year and is sitting at breakeven so far in 2018. IMAX is scheduled to report the financial results of its first quarter on Tuesday, May 1 before the market opens. Here are a few things investors should be watching. Characters from Marvel's Avengers: Infinity War, led by Captain America and Black Panther, running towards an unseen foe. There's a lot to like about IMAX. Image source: Disney. Tough comps To recap last quarter's performance , IMAX reported revenue of $125.6 million, an increase of 17% year over year, soaring past analysts' consensus estimates of $118.8 million. The company generated adjusted earnings per share of $0.34, up 55% over the prior-year quarter and in line with expectations. Analysts' consensus estimates for the quarter expect revenue to grow 15% to $79.3 million, producing earnings per share of $0.10, compared to break-even bottom-line results in the prior-year quarter. IMAX doesn't provide quarterly guidance and only provides a broad forecast for the entire year. The company faces tough comps, as box office revenue was lower by 2% in the first quarter compared to the same period last year, which produced hits like Beauty and the Beast , Logan , and Get Out . While Black Panther dominated theaters during the quarter this year, there was less enthusiasm for other films, leading to the decline. One key area to watch is the backlog of theater installations. IMAX makes agreements to install its systems in partner theaters, but those take time. The backlog represents the theaters waiting to be completed and provides a window into growth for the company. IMAX ended the year with 494 systems on the list, and based on recent activity (detailed below) it's possible the additions for the first quarter will break into the triple digits. IMAX said it expects to install roughly 145 new theaters in 2018, with 11 of those new screens occurring in the first quarter. Story continues There's a lot happening Even with the tough environment, there are still reasons to be optimistic regarding the current quarter's results. IMAX reported its second-best weekend results ever when Disney 's (NYSE: DIS) Black Panther grossed more than $50 million in global box office sales at IMAX locations in its first 10 days of release. The company also revealed that it had achieved record attendance in theaters in China during the two-week Chinese New Year holidays, which took place between mid-February and early March. This could help boost results above expectations. IMAX has made several announcements recently that point to overall strength in its business. The company announced that it has added 14 new theaters in India since February and had nearly doubled its previous footprint in the country over the prior 12-month period. IMAX also revealed a significant agreement with Cineworld and its recently acquired subsidiary Regal Entertainment Group to install IMAX Laser systems in 26 new theaters and upgrade 29 existing locations across the U.S. and Europe. This announcement follows a 30-theater deal with Jinyi of China. In what could represent even bigger news, IMAX signed a binding agreement with AMC Theaters (NYSE: AMC) to install the company's next generation IMAX with Laser system for commercial multiplexes at 87 of AMC's highest-performing locations in the U.S. The agreement also includes "IMAX's 12-channel sound technology that incorporates new side and overhead channels to deliver greater dynamic range and precision for ultimate audio immersion and sound you can feel." AMC is planning major renovations at these theaters, installing reclining chairs and providing enhanced food and beverage choices for patrons. Marvel's Avengers: Infinity War movie poster featuring a host of Marvel movie characters. Will Earth's mightiest heroes save the box office? Image source: Disney. Finally, Marvel's latest entry, Avengers: Infinity War , makes its potentially record-breaking debut in theaters on Apr. 27. The blockbuster was filmed entirely using IMAX cameras, so expect to hear plenty about the film when IMAX reports its financial results. With the help of Earth's mightiest heroes, U.S. box office sales may be back on track to grow this year, with additional help from a strong slate of high-profile films. These include Deadpool 2 , Isle of Dogs , Solo: A Star Wars Story , Jurassic World: Fallen Kingdom , Ant-Man and Wasp , The Incredibles 2 , X-Men: Dark Phoenix , Fantastic Beasts: The Crimes of Grindelwald , and Mary Poppins Returns -- among others. It is important to remember that with the majority of its growth in international markets, IMAX's fate will rest less on the stagnant pace of U.S. box office sales, and more on increasing global demand. I think this bodes well for the company's future. We'll find out soon enough how the company did in the first quarter, but I think this is the beginning of a winning year for IMAX. 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 AMC Entertainment Holdings, IMAX, and Walt Disney and has the following options: long January 2019 $85 calls on Walt Disney. The Motley Fool owns shares of and recommends IMAX and Walt Disney. The Motley Fool has a disclosure policy . || Here's Why Tandem Diabetes Care, Inc. Is Rising Today: In response to an analyst upgrade, shares ofTandem Diabetes Care(NASDAQ: TNDM), a medical device company focused on insulin pumps, rose 16% as of 11:30 a.m. EDT on Monday.
Tandem's shareholders can thank JP McKim, an analyst at Piper Jaffray, for today's double-digit jump. McKim upgraded Tandem's stock from neutral to overweight on Monday and increased his price target on the stock to $13.00. That's substantially higher than his prior price target of $8.00 and also well above the stock's closing price of $8.90 on Friday.
McKim's decision to upgrade the stock was based on his belief that the company will boast a "superior closed loop system for several years" enabling the company to continue to grab market share at a rapid pace.
Image source: Getty Images.
A "closed loop" system is another name for anartificial pancreas, which is a combination device that will monitor a patient's blood glucose levels and use an algorithm to dose them with insulin when needed. Tandem has been working with its partnerDexCom(NASDAQ: DXCM)for many years to bring such a device to market.
Traders are bidding up the share price today based on McKim's bullish statements.
Tandem's stock has been on a massive tear since it bottomed out earlier this year. It's up more than 346% since January, which is a remarkable move in a short period of time. The optimism has been fueled in part by agreat first-quarter report.
The huge run in recent months might make you conclude that this has been a great stock to own. However, if you zoom out to include the company's entire history on the public markets, you'd get a different story:
TNDMdata byYCharts.
McKim may be correct when he says that Tandem will be a leader in the race to get the first truly closed-loop system to market. If that happens and the company can maintain its edge for several years, then the stock could be poised for a big run. However, the company faces steep competition from the likes ofMedtronicandInsulet, both of which are gunning to introduce artificial pancreases of their own to market as soon as possible. I'm not quite as confident as McKim that Tandem will be able to get there first and maintain its edge for long.
In the meantime, Tandem's financial statements are likely to remain ugly for quite some time. Last year, it lost $73 million, and it's guiding for another considerable loss in 2018 as well. That likely means that it won't be long before the company taps shareholders yet again to keep the business afloat.
Overall, I think that Tandem has a great product, and I admit that the company could be poised to continue growing rapidly from here. However, it's been an awful long-term investment and its financial situation remains extremely dicey. For that reason, I'll be keeping this stock far away from my portfolio for the foreseeable future.
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Brian Feroldihas no position in any of the stocks mentioned. The Motley Fool owns shares of Medtronic. The Motley Fool recommends Insulet. The Motley Fool has adisclosure policy. || 1 Big Danger General Mills Shareholders Should Be Worried About: General Mills (NYSE: GIS) stock is down an unsightly 25% for the year. Much of the pessimism has come thanks to lackluster earnings reports from several branded food companies, as well as the February announcement that General Mills plans to acquire the Blue Buffalo (NASDAQ: BUFF) pet products company, which many thought was an expensive move to diversify the business. The latest leg down, however, is due to a different problem, and one that can't be so easily fixed. Inflation takes a toll General Mills reported its fiscal third-quarter earnings on March 21. While the company beat analyst expectations on both the top and bottom lines, the bad news was in the guidance, specifically, the company's FY 2018 outlook for cost of goods sold . Management now expects these input costs to be up 4% for the fiscal year ending in May, one percentage point higher than it had previously guided, and will contribute to operating profit declines of 5%-6%. Increasing costs for commodities such as grains, fruits, and nuts are having an impact, but the real hurt has been in skyrocketing freight costs -- the costs to ship products to retail outlets. Higher oil prices, surging demand, and a shortage of drivers have caused trucking costs to rapidly increase. "We're now having to go out to the spot market for close to 20% of our shipments versus the historic average of about 5%, and those spot market prices can be 30% to 60% higher than our contracted rates," said CEO Jeffrey Harmening during the conference call with analysts. A baby covered in pasta makes a face in a high chair. General Mills' margins are displeasing investors. Image source: Getty Images. Can General Mills cope? The problem of inflation is the reason Warren Buffett has long touted the merits of buying franchises with pricing power -- the ability to raise prices without sacrificing sales. However, it looks increasingly unlikely that General Mills -- or any of the other consumer packaged-goods companies, for that matter -- will be able to meaningfully raise prices without sacrificing volume. That's because its core brands, which are mostly in the nonprotein processed food category, have much less clout than in the past. General Mills brands include Chex, Pillsbury, Wheaties, Green Giant, and many more. Consumers have a much wider array of choices now, including healthier and organic offerings on the high end, and increasingly popular private-label brands from big retailers. Private-label brands typically don't have to recover advertising dollars, so they can provide high margins to retailers while being priced below branded goods. Story continues In addition, the rise of technology and e-commerce has made price-comparing easier than before. Scott Galloway, founder of research firm L2 (a Gartner subsidiary), in a blog post called the rise of voice-enabled speakers another step in the " death of brands ," with more and more consumers unable to pick out a single favorite brand across many retail categories. It may be an exaggeration that brands will be going extinct, but it's clear that consumer packaged-goods brands are challenged, especially those perceived as belonging to a prior era of more processed food. Still, General Mills, along with its peers, has been trying to rapidly adapt to the changing times. It bought Annie's Natural Foods for $820 million in 2014; Epic Provisions, a maker of protein-based snack bars, in 2016 for an undisclosed sum (though acquisitions totaled $84 million that year); and announced the planned acquisition of Blue Buffalo, a maker of organic pet food, for a huge $8 billion enterprise value just in February. While General Mills should be commended for adapting to the times, the growth from these smaller segments has, so far, only been successful in stopping the declines of the past few years. Check out this revenue chart. GIS Revenue (TTM) Chart GIS Revenue (TTM) data by YCharts . In addition, General Mills has among the lowest gross margins of its branded peers, which means it may be difficult to raise prices without losing ground to competitors. GIS Gross Profit Margin (TTM) Chart GIS Gross Profit Margin (TTM) data by YCharts . More challenges ahead 2018 will be a challenging year for General Mills. With inflation that will be difficult to pass on via higher prices, a nearly $14.5 billion debt load (4.2 times EBITDA , which is quite high) plumped up by the pending Blue Buffalo acquisition, and competition from big brands and retail private labels, I wouldn't expect a turnaround for General Mills in the near term. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Billy Duberstein has no position in any of the stocks mentioned. His clients may own shares of some of the companies mentioned. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy . View comments || Illumina Inc. First-Quarter Results: NovaSeq Still the Gift That Keeps on Giving: Illumina(NASDAQ: ILMN)shareholders have basked in the success of the company's NovaSeq system. The company enjoyeda tremendous year in 2017thanks largely to a better-than-expected rollout of the gene-sequencing system. Heading into the first quarter of 2018, there was every reason to anticipate that the momentum would continue.
And that's exactly what happened. Illumina reported its first-quarter results after the market closed on Tuesday. The genomic-sequencing pioneer yet again delivered a solid performance. Here are the highlights.
Image source: Getty Images.
[{"Metric": "Sales", "Q1 2018": "$782 million", "Q1 2017": "$598 million", "Year-Over-Year Change": "30.8%"}, {"Metric": "Net income from continuing operations", "Q1 2018": "$208 million", "Q1 2017": "$367 million", "Year-Over-Year Change": "(43.3%)"}, {"Metric": "Adjusted earnings per share (EPS)", "Q1 2018": "$1.45", "Q1 2017": "$0.64", "Year-Over-Year Change": "126.6%"}]
Data source: Illumina.
Illumina's sales in the first quarter grew more year over year than they did in thefourth quarter of 2017. Most of the growth stemmed from product revenue, which increased from $491 million in the prior-year period to $628 million in the first quarter of 2018. It's not hard to figure out from where much of that growth is coming -- NovaSeq.
The company has made no secret that it expects most of the current users of its high-throughput HiSeq systems to transition to NovaSeq. In addition, the new system attracted many customers who were either new to Illumina or had previously only used its lower-throughput systems.
But what about that glaring drop in net income? No worries. The decline stemmed from the one-time impact in the first quarter of 2017 of spinoff GRAIL repurchasing its stock from Illumina. The company's adjusted earnings per share factors out this one-time benefit as well as a few other smaller financial items. And on that adjusted measure, Illumina really shined.
Illumina also cranked up its cash flow in the first quarter. The company generated operating cash flow of $255 million, up 52% from the prior-year period. Illumina reportedfree cash flowof $165 million, nearly double the amount generated in the first quarter of 2017.
Since its last quarterly update on Jan. 31, Illumina racked up several major achievements, including:
• Released the new S1 flow cell reagent kit for the NovaSeq 6000 gene-sequencing system
• Announced a collaboration withBristol-Myers Squibbwhere the big drugmaker will use Illumina's technology to develop in-vitro diagnostic (IVD) assays for its cancer drugs
• Announced a partnership withLoxo Oncologyto develop and market a multi-gene panel for tumor profiling
According to Illumina President and CEO Francis deSouza, "Our strong first quarter, with momentum across both our sequencing and microarray businesses, was driven by the growing adoption of applications spanning oncology, clinical and non-clinical research, population genomics and personal genomics." He added, "Genomic information is more valuable and actionable than ever before, and we believe that we are in the earliest stages of a genomics revolution."
Thanks to the strong first-quarter results, Illumina upped its full-year 2018 guidance. The company had previously expected revenue growth in 2018 between 13% and 14%. Illumina now projects that 2018 revenue will increase by 15% to 16%.
The company also now expects full-year GAAP earnings per diluted share of $4.45 to $4.55. That's over 7% higher at the midpoint than Illumina's prior forecast. Non-GAAP adjusted earnings per diluted share for 2018 are now projected to be between $4.75 and $4.85 -- up 5.5% at the midpoint above the company's previous estimate.
What lies ahead? NovaSeq should continue to be the gift that keeps on giving. Illumina could see a nice contribution from its new, low-cost iSeq gene-sequencing system. Revenue from consumer genomics customers, including Ancestry, 23andme, and Illumina's spinoff, Helix, should keep growing.
There's always a possibility that contractions in spending by governments could negatively impact Illumina. The migration of HiSeq customers to NovaSeq could be "lumpy." However, Illumina's future prospects over the long run appear to be just as bright as ever.
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Keith Speightshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Illumina. The Motley Fool has adisclosure policy. || 1 More Technology Apple Inc. Needs to Bring In-House: I've written extensively aboutApple Inc.'s(NASDAQ: AAPL)recent failures to develop best-in-class smartphone cameras. Apple's iPhone X, the company's flagship device, has already been bested in camera performance by other flagship devices, including thePixel 2,Galaxy S9 Plus, and the Huawei P20 and P20 Pro smartphones.
Considering how important camera performance is in the premium part of the smartphone market, Apple's inability to build undeniable leadership in mobile cameras is a problem, and it could be even more of a problem in the years to come if Apple's competitors continue to pull ahead.
Image source: Apple.
One way for Apple to potentially take the lead in camera technology may be to further vertically integrate by bringing camera sensor design in-house.
Today, Apple sources its image sensors fromSony(NYSE: SNE), a well-known maker of high-end smartphone camera image sensors. Although it's likely that the sensors are customized to Apple's needs -- at least to some degree -- the reality is that other smartphone makers can also buy image sensors from Sony.
This limits Apple's ability to differentiate its cameras' performance from that of other high-end flagship smartphones.
So, what Apple might want to do is what it has done with other key smartphone technologies: bring image sensor design in-house.
By controlling the design of its own image sensors, Apple would be able to build differentiated sensors that meet the company's exact requirements. Each design decision and trade-off would be made solely based on what Apple wants, not on what a relatively large set of customers might want.
Apple is unlikely to manufacture the sensors itself, as this would require significant capital investment. But Apple's longtime contract chip manufacturing partnerTaiwan Semiconductor Manufacturing Company(NYSE: TSM)seems like a viable candidate for the manufacture of Apple-designed image sensors (TSMC advertises its image sensor manufacturing capabilities on its website).
Additionally, since Apple can throw a considerable amount of money behind the development of its in-house sensors, its sheer financial muscle could allow it to develop technologies at a pace that others -- perhaps even Sony -- could not match.
There's some publicly available evidence to suggest that Apple may, in fact, be looking to develop its own image sensors rather than rely on third parties indefinitely.
Back in 2015, Apple posted ajob listinglooking for a "Sensor Digital Design Lead."
"In this role, you will be at the center of image sensor design effort, with a critical impact on camera design," the listing read.
More recently, in late 2017, Appleacquired an image sensor start-upknown as InVisage, which purported to have unique image sensor technologies that improved dynamic range, slow-motion video capture, and shutter speed over traditional image sensors.
I wouldn't be surprised, then, to see Apple roll out iPhones with custom-designed image sensors sometime in the next three to five years. Custom image sensors won't help Apple regain camera superiority in the near term -- it'll need to buy or co-develop better sensors with external vendors for a while still -- but they could help Apple's products in the long term.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || 3 Beaten-Up Energy Stocks: Are They Bargains?: Most investors have probably heard of energy giants Royal Dutch Shell (NYSE: RDS-A) (NYSE: RDS-B) , Dominion Energy (NYSE: D) , and TransCanada (NYSE: TRP) . Fewer, however, are likely familiar with their publicly traded master limited partnerships (MLPs) : Shell Midstream Partners (NYSE: SHLX) , Dominion Energy Midstream Partners (NYSE: DM) , and TC Pipelines (NYSE: TCP) . That might be a good thing, as the market has beaten up the latter trio this year, sending their valuations south. However, while all three are now much cheaper, that doesn't necessarily make each one a bargain worth buying. Man in a suit looking at an down arrow going through a floor. It has been a rough year for this trio of MLPs. Image source: Getty Images. Selling off for no reason Shell Midstream Partners has lost a quarter of its value this year, which has pushed its yield up to nearly 6%. Much of that sell-off stems from a rule change that impacted the ability of MLPs to collect taxes along with their service rates on some pipelines. However, Shell Midstream made it clear that this policy revision will have no material impact on its earnings since it gets the bulk of its revenue from sources with no exposure to this policy. As a result, Shell Midstream believes it will have no problem paying its distribution, which it still expects to increase another 20% this year and at a mid-teens rate for 2019. The company has already raised the capital it needs to fund this growth, which it expects will come from acquiring another $1 billion to $1.4 billion in assets from Shell later this year. With that income growth seemingly all locked up, the 25% valuation discount makes Shell Midstream look like a bargain right now. A cause for concern TC Pipelines has fared even worse, losing more than a third of its value in 2018, which has pushed its yield up close to 12%. When a yield reaches into the double digits, that's usually a warning sign that the market doesn't believe the company can maintain its current payout rate. Story continues TransCanada's MLP generated more than enough cash flow to fund its high-yield distribution last year, covering it by a healthy 1.1 times. That margin of safety, however, could vanish as a result of the rule change. While TC Pipelines stated that it's still evaluating the potential impact, it does get 55% of its revenue from assets subject to the policy, so it could lose a substantial slice of its cash flow going forward. Under a worst-case scenario, TC Pipelines might need to reduce its payout significantly, which could cause it to lose even more value. It's also possible that TransCanada could take advantage of the situation and buy out TC Pipeline for a cheap price. Since the rule only impacts MLPs, it could reinstate the fees after buying TC Pipelines and pocket the value difference. This uncertain future makes it hard to know if TC Pipelines is a bargain or a possible value trap. Pair of scissors cutting a $100 bill A reduction in cash flow from the rule change could send these energy stocks even lower. Image source: Getty Images. Needs more clarity Dominion Energy Midstream has been absolutely hammered this year, shedding nearly 50% of its value, which has driven its yield up to 8.1%. The MLP rule change is the main thing weighing on its price. Its parent, Dominion Energy, believes that the policy revision will take years to implement and won't have much impact on revenue. As a result, the company doesn't anticipate any cash flow reductions at Dominion Midstream Partners through 2020. However, the companies are re-evaluating their growth strategy, which would have seen Dominion Energy Midstream increase its payout at a 22% compound annual rate through 2020 fueled by a steady stream of dropdown transactions from its parent. Among the options Dominion is considering is dropping down its interest in a natural gas export facility instead of additional pipelines to get around the rule change. It's also possible that Dominion could opt to buy out its MLP rather than deal with this hassle. Until there's clarity on the impact this change will have on Dominion Energy Midstream, it's tough to tell if it's a bargain or not. Stick with certainty While the market beat up this trio of MLPs this year, only Shell Midstream looks like a bargain to consider buying because the recent rule change won't have any impact on cash flow or its growth plan. Dominion Midstream and TC Pipelines, on the other hand, could continue declining until there's more clarity on their futures. While neither partnership nor their parent companies seem worried, it's better to be safe than fall into what could be value traps. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool recommends Dominion Energy, Inc. The Motley Fool has a disclosure policy . || Why Shares of iQiyi Inc. Surged Again Today: What happened Shares of Chinese online entertainment company iQiyi Inc. (NASDAQ: IQ) jumped on Thursday. There were no significant new developments, but the stock still may be benefiting from positive analyst commentary it received on Tuesday and an announcement of encouraging early results from a joint membership program with JD.com on Wednesday. iQiyi stock was up about 10% at 3:50 p.m. EDT. So what Coverage of iQiyi was initiated at Goldman Sachs on Tuesday. Goldman rated the stock a buy, slapping on a $23 price target that's 41% higher than Monday's closing price. On Wednesday, iQiyi disclosed that a new joint membership program with e-commerce company JD.com had racked up more than 1 million users since it launched on April 27. A rising stock chart. Image source: Getty Images. These positive developments came soon after the company's first quarterly report since going public . iQiyi reported 57% year-over-year revenue growth in local currency after adjusting for a change in accounting standards for the first quarter, with all parts of the business growing at robust rates. The two biggest contributors, membership and online advertising, grew by 67% and 52%, respectively. After a few strong days for the stock, it's less than $3 away from Goldman's price target. Now what iQiyi is growing at a blistering pace. The company is losing money by the boatload, though, posting an operating loss of RMB1.06 billion during the first quarter. That's equivalent to about $169 million compared to revenue of $777 million. Notably, cost of revenue was just about equal to revenue. Obviously, that's not sustainable in the long run. The company is clearly hoping that growth will eventually fix the bottom line. Investors don't seem to mind the losses, pushing the stock to new heights on Thursday. 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 owns shares of and recommends JD.com. The Motley Fool recommends iQiyi. The Motley Fool has a disclosure policy . || Cryptocurrencies hit hard on Indian exchanges after RBI clampdown: By Abhirup Roy and Devidutta Tripathy MUMBAI (Reuters) - The Reserve Bank of India moved to bar banks and other entities that it regulates from having any linkages to virtual currency dealers, leading to a plunge in Bitcoin and other cryptocurrencies on local exchanges on Friday. The government and the central bank have previously cautioned the public on cryptocurrencies, with New Delhi earlier this year vowing to eliminate the use of digital currencies, which it considers illegal in the country's payment system. Entities regulated by the RBI shall not carry out transactions with individuals or businesses dealing in virtual currency, the RBI said on Thursday after issuing its bimonthly monetary policy report. In India, Bitcoin, a volatile cryptocurrency, plummeted to a low of 350,001 rupees or about $5,392, according to crypto-currency exchange Coinome, compared with its international market price of $6,617. Before the announcement, Bitcoin had been trading at about a 5 percent premium to its overseas price, said Vishal Gupta, co-founder of Block Chain and Cryptocurrency Committee, an industry body, noting it is now trading at a significant discount. "This seems to be a very aggressive move," said technology law expert Namita Viswanath, a principal associate at IndusLaw. "Instead of the RBI taking a holistic approach and seeing how to curb potential misuse, it seems to be a rather broad-stroke approach of completely prohibiting this altogether." Late on Friday, the RBI issued a more detailed that stated any regulated entities which already provide services to facilitate dealing with virtual currencies will have to cut all ties within three months. The Indian government has previously likened cryptocurrency investments to "Ponzi schemes" that offer unusually high returns to early investors. It has set up a panel to look into the issues relating to cryptocurrencies and plans to appoint a regulator to oversee unregulated exchanges. Story continues But Thursday's announcement raised concerns about the exit options for investors who currently hold cryptocurrencies. Gupta estimates that at least 4 to 5 million people in India hold some kind of cryptocurrency and that 60 percent of them entered the market between October and December, when prices were at a peak. "Most of these people are already sitting on capital losses," he said. "Now the asset has become dead. You can't transact with it. If you transact with it, your bank accounts are going to be shut." Virtual currencies raise concerns of consumer protection, market integrity and money laundering, among others, the RBI said on Thursday. "If the government stands firm on their decision then we will have to eventually pivot our business model from crypto-fiat to crypto-crypto hence omitting the fiat part in totality," said Shivam Thakral, CEO of BuyUcoin, a cryptocurrency exchange. ($1 = 64.9100 Indian rupees) (Reporting by Abhirup Roy and Devidutta Tripathy; Editing by Euan Rocha) || Is Coca-Cola Stock a Buy?: It's hard to overstate the strengths ofCoca-Cola's(NYSE: KO)business. The beverage titan owns four of the world's top five soft drink brands and is responsible for more than half of all sales in that massive industry.
Meanwhile, its distribution system delivers 1.9 billion drinks to consumers in 200 countries around the worldper day. It would take billions of dollars, and likely decades, for any rival to even hope to challenge that infrastructure.
Yet that dominant business hasn't created strong returns for investors lately, with shares trailing the broader market over the last three-year and five-year periods. Below, we'll look at the prospects for a better run for shareholders over the coming decade.
Image source: Getty Images.
Consumer tastes are shifting in ways that haveclearly harmed Coke's business. People are passing on drinks they see as overly sweet or packed with artificial ingredients, and that move has created a difficult selling environment for the industry leader.
The Diet Coke brand booked a 5% volume decline in the U.S. last year, for example, as Coke's overall volume held flat. Compare that toNational Beverage's 17% spike, powered by booming demand for sparkling soda brands like LaCroix.
Coke's earnings picture hasn't been bright, either. After adjusting for currency shifts, non-GAAPprofit fell in 2015 and dropped again in 2016, before merely holding steady last year. At-home sparkling water specialistSodaStream, on the other hand, just managed itssecond straight yearof record profitability.
Coke isn't consigned to simply manage its slow decline. The company introduced more than 500 products last year that represented either entirely new brands or improvements to existing franchises. Its Coke Zero Sugar release was a highlight from that strategy and the new drink helped replace some of the losses from Diet Coke's stumbles. Bolt-on acquisitions are helping the company further tilt its portfolio toward the flavors that consumers are demanding in high-growth niches like tea, energy drinks, juice, and sparkling waters.
Image source: Getty Images.
At the same time, Coke is pursuing a financial strategy that could supercharge earnings in the years ahead. With its refranchising and cost-cutting moves, management has increased profit margins while lowering the amount of capital needed to run the business.
Return on that capital, consequently, jumped by 1.6 percentage points to touch 19% of sales last year. CEO James Quincey and his team believe that's just the start though, and they'repredicting higher margins in 2018, which they believe will be an inflection year for the business following several years of weakening financial results.
Coke is expecting to speed sales growth up to 4% this year from 3% in 2017 even as profit margins improve. These two positive trends should support non-GAAP earnings growth of between 8% and 10% to mark the company's first gain by that metric in over three years.
As usual, investors can expect those returns to be supplemented by a growing dividend and significant share buybacks. Specifically, Coke should spend about $1 billion repurchasing its stock and its 5% dividend hike, announced in February, marked its 56th consecutive annual raise.
Put it all together and it wouldn't be surprising to see consistent returns in the low-double-digit range over the next few years. Investors could achieve higher rates with smaller soda specialists like National Beverage. But a Coca-Cola investment would deliver better predictability, conservative growth, and income. Shares won't soar as they have for both National Beverage and SodaStream over the past few years. But at 20 times expected earnings, compared to 27 for SodaStream and 21 for National Beverage, the beverage titan's stock should deliver decent investor returns from here.
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Demitrios Kalogeropouloshas no position in any of the stocks mentioned. The Motley Fool owns shares of SodaStream. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Justin Sun’s Tron “Marketing Stunt” Draws Sharp Reply Form Vitalik Buterin - http://bitcoin-wall.com - Generate Bitcoin. Take your free Bitcoin || 0.11%
6627.86$
6639.34$
6639.45$ || DJ PRO FORENSIC HDD DUPLICATOR/DIAGN http://bit.ly/1G4fMlW #Cybersecurity #Bitcoin pic.twitter.com/oepELyCCo1 || [PATROCINADO] BitCoin, conheça e invista http://mon.net.br/1tyr1 | RT @LinhaAmarelaRJ: 7:16 Sentido Barra trânsito bom || #bitcoin Study: 14% of young people investing in cryptocurrencies - http://bit-coin-news.info/news/study-14-of-young-people-investing-in-cryptocurrencies.html …pic.twitter.com/CloK1Ge7PJ || #Bitcoin (#BTC)
USD 6868.25
EUR 5574.44
#Litecoin (#LTC)
USD 116.5
EUR 94.52
#Ethereum (#ETH)
USD 380.93
EUR 309.45
#Ripple (#XRP)
USD 0.4812
EUR 0.3913 || This guy is so desperate for attention bcash is not bitcoin it doesn't matter how much u try to trick ppl || Esta es la cantidad de petróleo que se necesita para producir un bitcóin #datohttps://goo.gl/ipQkrA?btz37=2151040505 … || #BTC Cómo Comprar #IOTA en Bitfinex http://bit.ly/2uNZCsD pic.twitter.com/4ckjvZUbYw || #BTC Average: 9297.86$
#Bitfinex - 9288.90$
#Poloniex - 9301.00$
#Bitstamp - 9279.17$
#Coinbase - 9282.00$
#Binance - 9284.99$
#CEXio - 9288.80$
#Kraken - 9294.70$
#Cryptopia - 9339.92$
#Bittrex - 9270.13$
#GateCoin - 9349.00$
#Bitcoin #Exchanges #Price
|
Trend: up || Prices: 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-03-16]
BTC Price: 41143.93, BTC RSI: 53.56
Gold Price: 1908.00, Gold RSI: 48.00
Oil Price: 95.04, Oil RSI: 45.20
[Random Sample of News (last 60 days)]
Hang Seng, China Stocks Soar as Beijing Pledges Support Amid Equity Rout: Hong Kongs stock market posted double-digit gains during the Wednesday afternoon trading session after China's State Council pledged support of the stock market. (Trading View) Xinhua reported (Chinese language) that the Financial Stability and Development Committee of the State Council pledged to keep the market stable and support overseas share listings. U.S. financial regulators and their Chinese counterparts are currently engaged in a dispute over the availability of Chinese company audits to U.S. officials. The U.S. has threatened to delist Chinese ADRs should these audits not be provided. Tencent was up nearly 20% and Alibaba hit 19% on the news. The broader Hang Seng index is up 9%, while the specific China tech index in Hong Kong is up 12%. According to state media reports, regulation of Chinas tech sector will soon normalize. The government also said they would handle some of the risks for property developers. Bitcoins (BTC) price remains relatively unaffected on the news. The price of the worlds largest digital asset briefly touched $41,000 late morning Asia time, but was trading around $39,450, up 2.82%, at time of writing. Traders report that liquidity is now extremely thin in crypto, hampering dynamic market moves, as the market awaits the Fed Minutes. || Bukele's Bitcoin Is Not What Turkey Needs: Salvadoran President Nayib Bukele met with Turkish President Recep Tayyip Erdoğan on Thursday in what was reportedly the first executive summit between the two countries. Despite droppinghintsahead of the meeting, Bukele reportedly didn’t talk to Erdogan about El Salvador’s best-known domesticpolicy: national Bitcoin adoption.
That’s likely just as well, because bitcoin isn’t a meaningful solution for Turkey’s monetary woes. The reasons for this are complex and highlight the rising need to understand bitcoin not just on its own terms, but as a novel force disrupting an established global monetary system, which already has its own arcane dynamics.
This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the fullnewsletter here.
Bukele and Erdogan’s meeting did come in the midst of a Turkish monetary crisis that has led citizens to swap their lira for crypto at recordrates, once again demonstrating the novel utility of an instrument like bitcoin as a hedge for individual savers. But Turkey’s monetary structure is so vastly different from El Salvador’s that BTC simply isn’t a relevant solution to the crisis at the national level.
El Salvador’s move to adopt bitcoin seemed broadly sensible to many observers, including me, because the country was already fully “dollarized” – it does not have its own currency or monetary policy. Swapping dollars for bitcoin offered a marginal reduction in Salvadoran dependence on U.S. monetary policy, over which they have no control and which has recently become inflationary.
Turkey’s situation is much different, and very complex. Rather than being fully dollarized, Turkey is onlylargelydollarized – while it manages its own currency, the lira (TL), the U.S. dollar (USD) makes up about half of the bank deposit base there. As Turkish economistLutfullah Bingolrecently laid out on Bloomberg’s “Odd Lots”podcast, Turks essentially use dollars as a “hedge against tail risk” in the lira. At times of high lira volatility or inflation, they shift holdings to dollars for stability. (“Odd Lots” has done a great job providing a nuanced introduction to the situation. I highly recommend their coverage.)
That’s a huge part of Turkey’s current monetary problems, and the reason BTC isn’t a helpful fix. The availability of a dollar hedge exacerbates monetary instability there – speaking very broadly, a sinking lira can create a downward USD-TL spiral as more Turks sell lira for dollars.
This problem is rooted in the late 1980s when Turkey opened its capital accounts, allowing the lira to trade and float against other international currencies, at a point where it was still very much an emerging economy subject to periods of instability. At least according to Bingol, this opening was “premature,” coming before the lira was robust enough to withstand global trading (for comparison, China, now the world’s second-largest economy, still has not opened capital accounts to allow the yuan to float). Over the years that has eroded the lira’s domestic role. Worst of all, dollar dominance tends to rise precisely during instability like the current crisis, reducing the effectiveness of lira monetary policy at the moment it is most badly needed.
Reducing dollar dominance in a foreign market is known a “de-dollarization,” and it’s quite difficult, particularly in the middle of a crisis. Turkey is currently pursuing an intriguing strategy to resist further dollarization in the face of sharp inflation that would normally drive lira holders to USD en masse. Essentially, Turkey is offering lira holders a mirror of the hedge they would have in dollars – if the lira dips against USD, lira holders meeting certain conditions will be compensated with more lira.
See also:Turkey Makes the Case for Bitcoin as Erdogan Runs the Autocrat’s Inflation Playbook | Opinion
This might not end well. When the Turkish policy was announced, some crypto observers noted its similarity to the so-called (3, 3) stakingstructurebehind a“non-pegged stablecoin”called OHM, which uses interacting flows of multiple tokens to seek price stability in one of them. OHM has had a veryrough month, and “algorithmic stablecoins'' in general are at high risk of arbitrage exploitation and collapse.
Turkey’s new lira policy broadly rhymes with the structure of many algo stablecoins, and more generally with attempts to “peg” any currency that has been allowed to float. The policy is “the government writing effectively put options on the lira,” according to fund manager Paul McNamara during a second “Odd Lots”episodeon the topic. In very broad terms, Turkey has promised that if the lira falls against the dollar, it will pay lira holders with more lira – which it could wind up forced to effectively print, exacerbating the inflationary spiral that it was hoping to fight in the first place.
The core problem here is that Turkey’s economy and monetary policy are being badly mismanaged. As McNamara points out, the surest path to de-dollarization is “macro stability,” which makes foreign currencies riskier to hold. But absent that fix, Turkey’s proximate monetary problem is its citizens’ easy access to dollars as a currency hedge. Adding crypto to the mix only gives people more options for fleeing the lira, and Erdogan has no motivation to encourage that. || Around 30% of the bitcoin in circulation is worth less than what holders paid for it, Glassnode has found: • About 5.7 million bitcoins in circulation, or 30%, are underwater, Glassnode said this week.
• Twice when the demand for bitcoin was this low compared with supply, the price has rebounded, it noted.
• Some analysts aren't hopeful of a rebound, given bitcoin is more than 30% below its record of nearly $69,000.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
About 5.7 million bitcoins in circulation are worth less now than what the holders paid for them, Glassnode has found, as the cryptocurrency continues to slide.
That adds up to around 30% of circulating supply, the data analysis provider said in its weeklynewsletter.
Cryptocurrencies across the board have slumpedin the last month,tested by a rally in bond yieldsspurred by the Federal Reserve's plan to hike interest rates this year. The global crypto market has shrunk to about $1.95 trillion, from around $3 trillion about two months ago.
Bitcoin was trading at around $42,127 at last check Wednesday, according to CoinMarketCap data — more than 30% below November's record high of almost $69,000.
"As the drawdown worsens, an increasingly significant volume of BTC supply has fallen into an unrealized loss," Glassnode said in its Monday newsletter. "Approximately 5.7 million BTC are now underwater (~30% of circulating supply)."
But history suggests things could end well for bitcoin holders if they can keep their nerve, according to Glassnode. On two previous occasions when the demand for bitcoin was this low, compared with the supply available, the price has rebounded.
One was just after crypto markets capitulated in the face of the coronavirus pandemic, between May and July 2020. Prices recovered soon after, thanks to government support for the economy and central bank stimulus.
The next instance happened a year later, between May 2021 and July 2021. Cryptocurrenciescrashed in priceunder the impact of a range of events, including China's clampdown on digital assets and concerns about theenvironmental impactof bitcoin mining.
On both occasions, bitcoin bulls were rewarded for their patience with a bounceback.
The price reaction now will provide insight into the medium-term direction of the bitcoin market, according to Glassnode.
"Further weakness may motivate these underwater sellers to finally capitulate, whereas a strong bullish impulse may offer much needed psychological relief and put more coins back into an unrealized profit," it said.
Analystsat UBSare not hopeful of a rebound, as they point out the crucial role central bank stimulus played in these previous rebounds.
Read the original article onBusiness Insider || The Next Bitcoin Boom: $100,000 Target In Sight: Cryptocurrencies are the most enlightening winner of the bunch as the bid here illustrates the recognized shortcomings of the world’s 180 distinct fiat currencies. The notion that a global superpower’s currency like the Russian Ruble can lose 50% of its value in 2 weeks because other governments decided to put sanctions on the country is a scary thought (even if these sanctions are more than justified).
Blockchain-backed digital currencies provide the new world with a way for our economic structure to bypass geopolitical agendas (no matter how just their cause) in a free-market-driven manner which economists have been pointing to for decades if not centuries.
Investors are wrestling with the hard truth that fiat currencies are far less safe than we trust them to be and that cash under your mattress will do nothing but lose value over time (at an accelerating pace as of late). Cryptocurrencies will be a part of our new economy whether you like it or not, and it would be prudent to invest today before their mass adaptation. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are the three I would put my money in.
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 reportRenesola Ltd. (SOL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin price crash: Crypto plunges by 9% as billions wiped off market: The cryptocurrency market has seen a dramatic crash, wiping 9 per cent off the market. Bitcoin was down by 8.8 per cent over the last 24 hours. Many other coins suffered even more, with ethereum falling 11.1 per cent. That came amid drastically increased trading volumes, presumably as people rushed to get rid of their rapidly depreciating cryptocurrencies. Market volume was up 113 per cent, according to tracking website CoinMarketCap. The recent falls mean that bitcoin has dropped comfortably beneath the $40,000 mark that some analysts had seen as an important psychological indication of how bad any drop might be. It is just the latest indication that the growing fears of a crypto winter might be coming true. Bitcoin has already had its worst start to a new year ever, and has plunged through a number of important milestones. The poor performance is in stark contrast to the record-breaking performance at the end of the year. Bitcoin hit its all-time high in November almost touching $70,000 but it is now 44 per cent beneath that record. Some supporters had hoped that bitcoin and other cryptocurrency could bounce back as a hedge against high inflation. But even as inflation continues to rise, the price has struggled, dropping further and further. View comments || Euro Continues Counter Trend Move: The Euro has initially rallied during the trading session on Tuesday but has given back some of the gains to show signs of hesitation. This suggests that perhaps we are starting to run out of momentum, and therefore we need to look at the resumption of the longer-term trend. This is not necessarily something that you can guarantee, but it certainly looks as if it would be easier to drop from here than it would be to continue going higher. After all, we had been in a long-term downward trend before we got here, and even though we had a nice pop on Monday, at the end of the day it is still against the trend. EUR/USD Video 02.02.22 You should keep in mind that the Euro is considered to be the “anti-dollar”, and therefore if the dollar is struggling around the world, the Euro is a natural place for money to flow towards. That being said, the ECB is very unlikely to be anything remotely close to hawkish in its meeting this week, and therefore I think traders are starting to get away from the Euro in case they become even more dovish. It is obvious that the Federal Reserve is becoming more hawkish, so there still long-term upward pressure on the US dollar, and that could very well be the case for some time. This will be especially true if we have some type of fear out there, as the US dollar is considered to be the safety currency for the world, and therefore it does make a certain amount of sense that we would see markets favoring it in this type of nervous scenario. 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: Fidelity’s Paper Argues in Favor of Bitcoin, Calls it Superior Money The U.S. Senate Will Discuss Stablecoins on February 15 Crude Oil Markets Continue to Push Higher Natural Gas Markets Continue to Show Hesitation Near $5.00 Bank of Jamaica To Deploy 230 Million Jamaican Dollar CBDC by March US Dollar Slumps Against Japanese Yen || Gold Stays Range-Bound As Treasury Yields Rise: Key Insights Higher Treasury yields put some pressure on precious metals. Gold continues consolidation after the recent pullback. A move back above the $2000 level will push gold towards the resistance at $2020. Traders Wait For Additional Catalysts Gold remains stuck in the range between the support at $1975 and the resistance at $2000, while traders wait for new catalysts that could boost demand for safe-haven assets. Global markets remain volatile. WTI oil has recently managed to settle back above $107 after an unsuccessful attempt to settle below the $105 level, while S&P 500 futures are moving lower in premarket trading. Uncertainty persists, which is typically bullish for gold. However, it looks that gold markets may need more time to stabilize after the recent pullback before gold will be ready to gain upside momentum again. I’d also note that the recent inflation reports from the U.S., which indicated that Inflation Rate increased by 7.9% year-over-year in February, pushed Treasury yields higher. The yield of 2-year Treasuries is currently trying to settle above 1.71%, while the yield of 10-year Treasuries is close to the 2.00% level. Higher yields may put some pressure on precious metals in the upcoming trading sessions. Technical Analysis Gold faced significant resistance near $2000 and continues to trade below this level. The nearest support level for gold is located at $1975. In case gold manages to settle below this support level, it will head towards the support at $1950. A successful test of the support at $1950 will push gold towards the next support at the 20 EMA near $1940. If gold declines below the 20 EMA, it will gain additional downside momentum and head towards the support at $1915. On the upside, gold needs to settle above $2000 to have a chance to gain upside momentum in the near term. The next resistance level for gold is located at $2020. If gold settles above this level, it will move towards the resistance at $2050. A successful test of the resistance at $2050 will open the way to the test of the resistance at $2075. Story continues For a look at all of today’s economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Tests Support At 1.1000 Singapore Finance Minister Confirms Income Tax Will Apply to NFTs Daily Gold News: Friday, Mar. 11 – Gold Price Gets Back Below $2,000 Again U.S. DOL Issues Warning While Considering Crypto in Retirement Plan Bitcoin and ETH Eye Fresh Increase, DOT Signals Massive Breakout Stripe Re-Initiates Crypto Support As It Partners With FTX || Report: Bitcoin Donations Aids Ukraine’s NGOs Activities: With the growing tensions along Ukraine’s borders, non-governmental agencies in Ukraine have started acceptingBitcoindonations.
According to areportfrom Elliptic, NGOs in the country have raised $570,000 throughcryptocrowdfunding. These donations are going towards volunteer groups and organizations.
The report noted that some of these funds have been spent providing the Ukrainian army with medical supplies, drones, and other military equipment. Some of these organizations are also affiliated with the government. This shows that nation-states might also be turning to crypto for fundraising.
One of the projects the crypto funds is being used for is developing a facial recognition app that can be used to identify Russian spies and machinery.
With Russia assembling over 100,000 forces on Ukraine’s borders, the threat of war has become more prominent in recent weeks. But international organizations and world powers are calling for calm and looking to avoid escalation of conflicts.
It also stated that crypto fundraising to these organizations increased by 900% in 2021. This represents a massive uptick in the number of organizations using crypto for fundraising to bypass censorship.
In recent times, banks and other centralized financial institutions have censored payments and donations to organizations that don’t align with the dominant interests.
Recently in Canada, GoFundMeblockeddonations to the Freedom Convoy Campaign with a promise to return the over $9 million raised to the contributors.
This has forced some of the protest organizers to use Tallycoin for crowdfunding. Tallycoin is a platform that allows donations in Bitcoin with the promise of being censorship-resistant. So far, donations have surpassed more than 14 Bitcoin.
Previously, Russian-backed forces in Ukraine have also received crypto donations. According to available reports, Pro Russian separatists in Ukraine received crypto during the early days of the conflicts. A particular campaign, “Save Save the Donbass”, collected at least 68 bitcoins from 2014 to 2016.
Thisarticlewas originally posted on FX Empire
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• Economic Forecasts and Economic Data Put the EUR and Dollar in the Spotlight || Rare black diamond from ‘outer space’ goes on sale and can be bought with cryptocurrency: (Southby’s) A rare 555.55-carat diamond from outer space is being sold at auction for millions of pounds. “The Enigma”, as the dark rock has been called, is thought to have originated from a meteoric impact or a ‘diamond-bearing asteroid that hit the planet . It is heavier than both the 530-carat Great Star of Africa, and the 545.7-carat Golden Jubilee. As well as its specific carat, the Enigma also contains exactly 55 facets or faces. Black diamonds, which are also known as Carbonado diamonds, can be dated as far back as 3.8 billion years. They are found in alluvial, sedimentary deposits, close to or on the Earth’s surface. Diamonds have traditionally achieved their expensive price tags from their transparency, but the rarity of black diamonds have made them more attractive – and some designers are treating the rocks to achieve such a dark hue. Sotheby’s, which is selling the rock, says it will accept cryptocurrency as payment. The auction house’s chief executive, Charles Stewart, has claimed that NFTs and cryptocurrency has “long-term implications and opportunity” in the art market. “What I think is really more interesting and pervasive and powerful and here to stay is the idea of the blockchain ownership and authentication”, he continued. “This potentially has implications for physical art as well as digital art and I definitely think that irrespective of the ups and downs of the primary and secondary markets in a monetary sense that this category will continue to grow and develop over the years ahead.” However, many others in the art world have avoided crypto as a market . Belgian investment banker Alain Servais has acquired works by digital artists, but criticises NFTs for their “enormous unsolved copyright issues and security challenges”. Minting NFTs, and mining the huge amount of cryptocurrency necessary to purchase the rock, also has a hugely negative impact on the environment . Analysis by the University of Cambridge month suggests Bitcoin mining uses more than 121 Twh annually, which would rank it in the top 30 electricity consumers worldwide if it were a country. || The best stocks to own when interest rates rise: Morning Brief: This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, January 24, 2022 Memo to investors: Don't buy flaming piles of garbage right now. Those flaming piles of garbage could be the five software stocks (of companies losing money and valued at 85 times forward earnings) on your watchlist that have on average lost 25% in the past four weeks as a result of Federal Reserve rate hike fears (and to a lesser extent slowing growth, as seen in Netflix's earnings last week ). Or, it could be the five bitcoin derivative plays that have shed 15% in five sessions as prices for the benchmark crypto have fallen through a trap door to commence 2022. Nope, in this environment of soon-to-be much higher rates friends, the data is clear buy quality. And what defines quality stocks in this environment? Companies that are laughing in the face of inflation and expanding profit margins, growing free cash flow (operating cash minus capital expenditures) and have business models that aren't as paper thin as an analyst buy thesis on Kohl's (more on that below). "Highly profitable, well-capitalized firms perform best when financial conditions tighten. The performance of stocks with perceived 'quality' attributes such as high return on capital, strong balance sheets, and low realized volatility is positively correlated with tighter financial conditions," contends David Kostin, Goldman Sachs' chief U.S. equity strategist. Kostin's research shows that during the last Fed hiking cycle, strong balance sheet stocks outperformed weak balance sheet stocks by a whopping 24 percentage points. The strategist revealed 25 stocks that fit these quality qualifications Alphabet, Electronic Arts, Micron, Qualcomm and Moderna are the ones that caught my attention. So start compiling those stock screens on Yahoo Finance Plus today. And as always, happy trading! Story continues Odds and ends Bitcoin: Where are all the bitcoin bulls predicting $100,000-plus prices now? You know the fine folks pumping bitcoin as some sort of life-changing technology created by a higher life form with DNA ties to ET. You know, the ones rolling up to crypto conferences in used Lamborgini's (more on Lambo below) and wearing an entry-level Rolex. I could tell you where they aren't out there on social media pounding the table on bitcoin's amazingness and doubling down on their bullish calls. It also doesn't look like they are buying, either. Bitcoin had another terrible weekend mostly on regulatory concerns and the broader pullback in tech stocks, with prices cratering to a shade over $35,000 compared to about $43,000 on Jan. 20. Prices are at a six-month low, per Yahoo Finance Plus data , and are down 26% year-to-date badly lagging the major stock indexes. Sources tell Yahoo Finance cryptocurrency reporter David Hollerith the selling may not yet be done. If you are bullish on bitcoin, drop me a line on Twitter @BrianSozzi . I'm curious on how you are playing this rout. Calling all bitcoin bulls from underneath your rocks. (Yahoo Finance Plus) To the meme army: In the past week, I published two stories on meme army favorites GameStop and AMC . Suffice to say, I have been hammered with putrid tweets from the meme army you could always tell they are part of this dwindling, raucous crew as they lack any clear understanding of fundamental analysis (or true investing) or fail to serve up any coherent reason they are trading these fundamentally beat up companies that are mere shells of their former selves. I want to make myself clear on two fronts after ingesting a week's full of these tweets. First, I am not making any buy or sell recommendations on these stocks nor any other ones. This is not what we do here at Yahoo Finance. What I am calling attention to is fundamental flaws at both companies. GameStop is operating thousands of costly retail stores in a world of digital downloads for content. An upstart NFT marketplace as GameStop appears to be pursuing isn't going to magically create enough cash flow for Ryan Cohen to close all these stores down forever in a single day. Do you know how ridiculous this sounds? Do you also know how ridiculous it is Cohen and his CEO Matt Furlong are holding 10-minute earnings calls and not sharing any real plans to turnaround the company? Of course it's ridiculous. Wake up! Or how about AMC, led by chief Adam Aron. This guy is dumping millions of his personal shares in the company while the stock is tanking. How is that a good thing? The box office is off to another crap year due to the pandemic. Netflix is still doing great despite its mixed earnings report last week , underscoring the ongoing fundamental shift on how we watch movies and content. Second, as a wise investing mentor once told me on markets: "price is truth." GameStop and AMC shares are down 70% and 71%, respectively, from their early 2021 closing highs in large part because of these fundamental flaws I just described. You actually think stocks that go down that much are suggesting a healthy business will emerge one year, three years or five years from now? Give me a break. But hey, keep those tweets coming I enjoy learning new words and phrases. Shares of GameStop and AMC are falling apart a few weeks into 2022. (Yahoo Finance Plus) 3 charts to watch: First up, a hat tip to the Financial Times Robin Wigglesworth for shedding light on the below chart comparing the one-year of performance of the value-minded Warren Buffett 's Berkshire Hathaway to the growth-minded Cathie Wood 's Ark Innovation ETF. The performance gap between Berkshire Hathaway and the Ark Innovation ETF has narrowed to about eight percentage points since the beginning of 2020. With pressure on shares of top holdings Tesla and Zoom, Wood's Ark Innovation ETF is down 24.3% year-to-date versus a 2% gain for Berkshire's A shares. And who said value investing was dead? Warren Buffett's Berkshire Hathaway is rallying back against Cathie Wood's Ark Innovation ETF. (Yahoo Finance Plus) Another chart that caught my eye comes from Yahoo Finance alumni turn TKer founder Sam Ro . The chart shows noteworthy market pullbacks going back to 2009. Food for thought as the Nasdaq enters the week down 12% year-to-date while the bears circle the relatively outperforming S&P 500. Hey, stocks are risky and don't go up forever. (Tker) And lastly is this gem (reminder) from Renaissance Macro Research co-founder Eric Boucher. The S&P 500 is testing the 200-day moving average as Fed rate fears spread like a weed on trading desks. If it doesn't hold, look out below. The 200-day moving average is being tested on the S&P 500. (RenMac) The year of the activist: Activist investors have come out swinging in 2022. The saga at Kohl's is heating up and like I discussed on Yahoo Finance Live last week with Kohl's activist investor Jonathan Duskin , the company's complacent board can no longer run and hide from its poor track record on value creation. Late Friday, the take-no prisoners outfit Starboard (who ran successful activist campaigns at Darden and Papa John's) reportedly offered $9 billion for Kohl's (market cap as of Friday: $6.5 billion). A source familiar with the matter tells me Starboard is in play on Kohl's. On Sunday, it emerged that noted retail investor Sycamore (the secretive firm has acquired Staples, Express and others) reportedly is kicking the tires on Kohl's. The interest comes amid pressure from Duskin and fellow activist Engine Capital. A source tells me Kohl's is working with Goldman Sachs to consider its options. I expect this saga to come to a head before Kohl's investor day on March 7 (if the event is held it at all). Meanwhile, Peloton reportedly finds an activist investor knocking on its door after a major stock crash fueled by strong indications of mismanagement. In a scathing new letter released Monday , activist Blackwells Capital is pushing for Peloton to fire CEO, Chairman and founder John Foley and explore a sale. A Peloton spokeswoman declined to comment to Yahoo Finance on the matter. Blackwells highlights Disney, Apple, Nike and Sony as potentially interested suitors. Myself and Julie Hyman just discussed on Yahoo Finance Live the potential for a Peloton activist to arrive. This may be a tough battle for Blackwells, seeing as Foley and other insiders have super voting shares. Nonetheless, it's reasonable to expect a major shakeup at Peloton very soon. And lastly, is long-time stock price laggard Unilever, which now reportedly is being attacked by Trian's Nelson Peltz after a bungled acquisition by CEO Alan Jope. I have long covered Peltz's work the guy doesn't mess around. Most recently, he drove major change at consumer products giant P&G that has unlocked massive value. Jope's bungled deal plus a stock price that is only up 32% these past five years, versus 93% for the S&P 500 (and P&G up 86%) suggest Peltz has a strong hand here. Let the drama begin at the maker of Hellmann's mayo. Other business news: This will be the last year Lamborghini makes supercars that boast all-gas engines, the company's CEO Stephan Winkelmann told Bloomberg . Gas-powered engines will be replaced by plug-in hybrids, then all-electric models by 2024. Sad day for car fans. CVS Health CEO Karen Lynch has done few interviews since taking the helm in February 2021, so it was good to read her chat with The New York Times . I found Lynch's comments on worker wages to be 1) inflationary; 2) indicative of the margin pressures most retailers will be under in 2022. "It is a big challenge for us. We have increased our wages. We paid pharmacy bonuses in the past year. Weve done big hiring days. But it is a constant balance and a constant battle," Lynch said. If you woke up today and said "hey, I want to pick the bottom in cruise lines stocks like Carnival, Norwegian Cruise Line and Royal Caribbean," then read this from CNN . The piece dives into the robust series of challenges the cruise lines are dealing with at this point in the pandemic. The takeaway: Full profit recoveries for the cruise lines won't be happening in 2022, maybe not even 2023. Brian Sozzi is an editor-at-large and anchor at Yahoo Finance . Follow Sozzi on Twitter @BrianSozzi and on LinkedIn . Editor's note: We want your feedback. Please take this quick survey to let us know if we should launch another newsletter. If the answer is yes, what type of content should the newsletter include? Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Instagram , YouTube , Facebook , Flipboard , and LinkedIn
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 40951.38, 41801.16, 42190.65, 41247.82, 41078.00, 42358.81, 42892.96, 43960.93, 44348.73, 44500.83
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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 2018-01-23]
BTC Price: 10868.40, BTC RSI: 37.76
Gold Price: 1335.70, Gold RSI: 68.65
Oil Price: 64.47, Oil RSI: 72.45
[Random Sample of News (last 60 days)]
A Foolish Take: The Modern History of U.S. Corporate Income Taxes: The tax bill passed by the House and Senate this month and signed into law by the president marks a major victory for corporations in the United States. The bill cuts the top corporate income tax rate from 35% down to 21%. That isn't what Donald Trump vowed during his campaign for the presidential election last year, when he promised to drop the rate to 15%, but it nevertheless represents an historic shift. A bar chart of the top corporate income tax rate from 1918-2018. Data source: Tax Policy Center . Chart by author. The new rate is the lowest it has been since the Great Depression, when corporate taxes were raised to fund Franklin Delano Roosevelt's New Deal. Going into the Great Depression, which served as the impetus for the New Deal, corporations faced top rates of 10% to 14%. That climbed to 19% by 1938, and up to 40% in the 1940s, to help pay for World War II. For about a decade thereafter, from 1952 until 1963, the top rate for corporations plateaued at 52%. After a minor respite, when it declined in the mid-1960s, it peaked in 1968 and 1969 at 53% as a result of a surcharge placed on corporate income taxes to help finance the Vietnam War. The top corporate tax rate has been on a downward trajectory ever since. It was slashed during President Ronald Reagan's administration from 46% down to 34%, before settling at 35% for the past quarter century. The net result is that corporations now face the lowest top marginal tax rate since the 1930s. 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 . || US government shutdown ruins SpaceX plans for a Falcon Heavy test fire: The US government is a dumpster fire fueled by greed and corruption, and now it’s messing with SpaceX’s awesome Falcon Heavy rocket. The government shutdown — which is the result of Congress failing to reach a deal on a spending bill despite the fact that the House, Senate, and White House are all controlled by Republicans — has led many government employees to be furloughed. Unfortunately for SpaceX, some of those employees are vital to their planned Falcon Heavy test fire and could lead to a delay in the planned first launch of the rocket, too. The Falcon Heavy, which will carry Elon Musk’s own Telsa Roadster skyward whenever it’s finally ready for its maiden flight, was slated for a test firing of its engines in advance of its expected debut launch. However, in order to properly conduct the test, SpaceX needs help from the US Air Force, and the government shutdown means many of the people involved in the test won’t be showing up to work. Don't Miss : Today’s top deals: DNA test, $15 Crock-Pot, $10 electric griddle, $23 Bluetooth earbuds, Nest, more At the time of this writing, the government shutdown is well into its third day. A vote on a new spending measure is expected sometime on Monday, but it’s unclear at this point whether or not it will pass. If it falls short of approval, politicians will return to the negotiating table in hopes of reaching some sort of middle ground. As for SpaceX and its shiny new rocket, plans will remain hazy until the government can get its act together, which might be a while. The Falcon Heavy is undoubtedly SpaceX’s biggest challenge to date, and even Elon Musk has been extremely careful to manage expectations. In its first flight, the rocket and its 27 engines will push towards the heavens and, as Musk has stated multiple times, the rocket isn’t expected to survive its trip. “There’s a lot of risk associated with the Falcon Heavy, a real good chance that vehicle does not make it to orbit,” Musk famously told scientists at a conference in 2017. “I hope it makes it far enough away from the pad that it doesn’t cause pad damage. I would consider even that a win, to be honest.” Story continues That’s a pretty modest goal, all things considered, but now that the test firing has been pushed back indefinitely it’s unclear whether SpaceX will meet its January launch timeline. We’ll know more once the US government hits the “on” switch once again. BGR Top Deals: Today’s top deals: DNA test, $15 Crock-Pot, $10 electric griddle, $23 Bluetooth earbuds, Nest, more The ultra-slim iPhone X case made of real body armor is finally back in stock on Amazon Trending Right Now: Samsung just revealed some of the Galaxy S9’s remaining secrets Bitcoin and other popular cryptocurrencies are crashing yet again Some iPhone 6 Plus owners may be upgraded to an iPhone 6s Plus for free See the original version of this article on BGR.com || Fuel Surcharges Will Help Lift Hawaiian Holdings' Profit in 2018: In recent years, fuel surcharges -- or vaguely worded "carrier-imposed charges" -- have been commonplace in the global airline industry, even after oil prices plunged beginning in 2014. Japan is fairly distinct in having a government-regulated system in which fuel surcharges correspond directly to jet fuel prices -- on a lagging basis.
During 2015 and 2016, falling fuel surcharges created a big unit revenue headwind forHawaiian Holdings(NASDAQ: HA)in Japan. By contrast, rising jet fuel prices are now pushing fuel surcharges higher on routes between Japan and Hawaii -- providing a nice tailwind for Hawaiian in its largest international market.
Hawaiian Airlines will benefit from higher fuel surcharges in Japan this year. Image source: Hawaiian Airlines.
In early 2016, fuel surcharges disappeared entirely on flights to and from Japan as the price of jet fuel fell below 6,000 yen per barrel, the lower bound of the fuel surcharge schedule. At the beginning of 2017, there was still no fuel surcharge.
However, jet fuel prices have been on an upward trajectory since January 2016. As a result, fuel surcharges began to reappear last year. For tickets to and from Hawaii purchased in February and March, the surcharge was 2,000 yen each way, about $18 at today's exchange rate. The surcharge increased to 4,000 yen in April, fell back to 2,000 yen beginning in August, and returned to 4,000 yen as of Dec. 1.
Jet fuel prices made another upward move this fall. As a result, the fuel surcharge for Japan-Hawaii flights is set to reach 6,000 yen on Feb. 1.
Furthermore, the price of Singapore jet fuel has been hovering around $1.90 per gallon recently. At today's exchange rate, that translates to just over 9,000 yen per barrel. If prices remain at this level or move higher, the fuel surcharge will rise again later this year, reaching 8,500 yen each way for Japan-Hawaii flights. That's about $150 per round trip.
Japan is Hawaii's largest source of international tourists. As a result, it's a very important market for Hawaiian Airlines, which currently operates 31 weekly flights from Japan (mainly Tokyo) to Hawaii. Japan accounts for about 15% of Hawaiian's revenue today.
Japan is Hawaiian Airlines' most important international market. Image source: Hawaiian Airlines.
Hawaiian's substantial Japanese footprint meant that falling fuel surcharges had abig negative impact on its unit revenuea few years ago. By contrast, rising fuel surcharges became a tailwind in 2017, helping Hawaiian Airlines post double-digit unit revenue growth outside the U.S. in its most recently reported quarter. If anything, the benefit from higher fuel surcharges will be even larger in 2018.
By contrast, no other U.S. airline has much exposure to Japan anymore. Historically,Delta Air Lines(NYSE: DAL)had a big presence in Japan, having inherited a hub in Tokyo as part of its merger with Northwest Airlines. However, Delta has beenwinding down that hubsince 2011, while adding flights from U.S. hubs including Seattle, Los Angeles, and Atlanta directly to the Asian mainland.
Indeed, as of the third quarter, trans-Pacific routes accounted for just 7.2% of Delta's passenger revenue, down from 12.7% five years earlier. This trend suggests that flights to and from Japan now account for less than 5% of Delta's revenue, too little for the fuel surcharge changes to have much impact.
Hawaiian Holdings stock has lost about a third of its value over the past year, even though the recently passed tax reform bill will boost its net income by more than 20%, all else equal. Investors appear to be extremely worried that a big uptick in industry capacity in the West Coast-Hawaii market will undermine Hawaiian's unit revenue this year.
As I have previously noted, these fearsmay be overstated. Furthermore, the combination of easy year-over-year comparisons and the recent collapse of Island Air -- Hawaiian Airlines' main rival within Hawaii -- should drive strong unit revenue growth in the inter-island market during 2018.
With rising fuel surcharges in Japan likely to power solid unit revenue gains in the international market as well, Hawaiian Holdings is well positioned to blow past analysts' downbeat earnings estimates in 2018. That could trigger a swift recovery in its stock price.
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Adam Levine-Weinbergowns shares of Delta Air Lines and Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Why Alcoa, Encana, and Penn National Gaming Jumped Today: The stock market again was relatively calm on Wednesday, failing to react to Tuesday night's Senate vote to approve the tax bill and President Trump's signature Wednesday to enact the measure into law. Tax cuts for corporations could mean big earnings boosts for many companies, but major benchmarks didn't make any abrupt movements, reflecting the widespread belief before the formal vote that passage was almost certain. Although the broader market finished little changed, some companies saw their shares rise on positive news. Alcoa (NYSE: AA) , Encana (NYSE: ECA) , and Penn National Gaming (NASDAQ: PENN) 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. Alcoa looks shinier Shares of Alcoa climbed 6% after getting a positive review from a major stock analyst. Credit Suisse upgraded shares of the aluminum and light-metals specialist from neutral to outperform, with a $19 boost to its target price on Alcoa to $61 per share. Many see the fundamental characteristics for the aluminum market improving in 2018, with oversupply problems easing and a big uptick in demand likely. A potential infrastructure package could also help to bolster the company's prospects by increasing the use of various lightweight metals in anticipated construction projects. Alcoa has already seen substantial share-price gains in anticipation of such a move, so it remains to be seen how much more the stock could rise even if those projects materialize. Conference exhibit showing bundles of recycled aluminum at an Alcoa booth. Image source: Alcoa. Encana gets more energetic Encana stock jumped 8% on a strong day for the energy market. Crude oil prices rose roughly 1% to move above the $58-per-barrel mark, and many see the potential for greater capital investment following the passage of the tax reform bill possibly adding to energy demand in the long run. Encana has worked hard on a strategic plan that can survive $50-per-barrel oil, and so the prospects for price gains for the commodity only add to the potential profits that the Canadian producer could reap. That sets Encana apart from many producers that are still having trouble finding ways to operate efficiently at current oil-price levels. Story continues Penn National makes a winning bet Finally, shares of Penn National Gaming picked up 5%. The regional casino operator said earlier this week that it would merge with fellow industry peer Pinnacle Entertainment (NASDAQ: PNK) in a deal worth $2.8 billion . Penn National stock initially dropped after the deal was announced, in part because Pinnacle shareholders would receive 0.42 shares of Penn National for every Pinnacle share they own in addition to $20 in cash. Yet investors now seem to see the potential synergies that the merger could produce, and they're being reflected in share prices both for Penn National and Pinnacle, which has seen more consistent gains throughout the week. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || 3 Stocks That Look Like Apple in 2008: In January 2008, Apple Inc. (NASDAQ: AAPL) had only released the iPhone about six months prior, and in the U.S. it was available only through a single cellular carrier. Even with its positive reception and early success , few people were expecting the iPhone -- or smartphones in general -- to become so enmeshed in our daily lives. And pretty much nobody was calling on this to become Apple's most important product and make it the most profitable and valuable company on Earth. The reality is, back then there was fear that Apple would lose out to competitors with more history in the mobile-phone business. Can we find the next Apple? Obviously it's not that easy to spot the next industry-changing growth story. But that shouldn't stop investors from trying, so we asked three of our best to identify a company that could be in a similar situation to Apple in 2008: specifically, getting ready to experience a remarkable 10-year run that's driven by a big trend. They came up with e-commerce services leader Shopify Inc. (NYSE: SHOP) , global streaming giant Netflix, Inc. (NASDAQ: NFLX) , and Cisco Systems, Inc. (NASDAQ: CSCO) , the longime network hardware leader that's making the pivot to high-demand, high-growth services. A hand pushing a button with future start printed on it. Image source: Getty Images. Will any of these three stocks reward investors the way Apple has over the past decade? Read on to learn why our investors think they could. A lot of Apple parallels Jason Hall (Shopify): A decade ago, it hadn't even been a year since Apple had introduced the iPhone. And at the time, it was far from clear that this single device would come to dominate the space. Heck, back then many experts expected Apple to struggle breaking BlackBerry 's "moat" with enterprise users. In hindsight, we know how that played out. A smiling woman carries shopping bags while using her smartphone. Image source: Getty Images. To some extent, Shopify is already having similar success. With major "competitors" like Amazon.com having moved on from their own in-house offerings and now integrating with Shopify's services for third-party merchants, Shopify has proved itself to be a major player in the transition to e-commerce. Yet even with its success so far , it's very early in the e-commerce story. Story continues Over the next decade, most of retail's growth will happen online, and more of today's bricks-and-mortar shopping will have moved out of the stores and onto the Web. Shopify is a clear leader and innovator in this space, providing sellers the best suite of tools to make money online, without having to invest the time and resources it would take to build and manage a platform in-house. Could Shopify deliver Apple-like returns over the next decade? Only time will tell. But if the company remains the innovator and leader in e-commerce solutions it has become, I think there's a good chance it does. Considering it's only about one-twelfth the size Apple was a decade ago and the market it operates in is multiples bigger, it could do even better. A significant revenue "stream" Danny Vena (Netflix): Very few companies can create the type of opportunity that Apple shareholders have enjoyed over the past 10 years. A groundbreaking product that dominated the competition, a revolutionary followup, repeat customers, and a worldwide opportunity turned Apple into the biggest company by market cap in the world. While Netflix doesn't produce a tangible product, there are other striking parallels. Netflix's groundbreaking DVD-by-mail service drove the video-rental business to the edge of extinction, similar to the iPod's complete domination of its market. When Netflix pioneered streaming 10 years ago it was revolutionary, and it continues to attract repeat customers and possesses a massive worldwide opportunity. A hand points a remote at a TV with a streaming content menu on it. Image source: Getty Images. Now, I'm not saying Netflix will ever be the world's largest company, but it has only begun to tap its global market, which now tops 100 million subscribers. Its worldwide total addressable market is estimated at 450 million, and international subscriber numbers recently exceeded domestic figures for the first time. Several catalysts are likely to drive Netflix's future growth. In addition to greater international adoption and continued penetration in its global markets, Netflix enjoys pricing power, as evidenced by an increasing average revenue per user, and will benefit from customer inertia -- once people have signed up, most will remain customers because of the relatively low cost. In its most recent quarter, Netflix grew revenue by 30% year over year, and its net income more than doubled over the prior-year quarter. The contribution margin in its U.S. market now exceeds 35%, compared with 4.7% for its international markets. Growth in this metric over time will lead to greater profitability. Netflix has begun to see benefits from producing and owning its content, which it says has a lower per-subscriber cost than licensed programs. The powerful combination of an increasing subscriber base and lower per-customer costs will result in increased operating leverage and escalating margins. For all these reasons, I think Netflix looks like Apple in 2008. Make the right connection Dan Caplinger (Cisco Systems): Even the best companies go through difficult periods, and just as Apple faced challenges in 2008, so too has Cisco Systems worked hard to rediscover its past dominance in internet networking. For years, Cisco allowed itself to fall behind, getting distracted by the possibilities of expanding in different directions and losing sight of the huge potential from naturally evolving its core business to take advantage of technological advances. Racks of computers in a data center. Image source: Getty Images. That all changed last year, when CEO Chuck Robbins made substantial progress in his transformation of Cisco's business . Like so many other technology companies, Cisco found that its hardware focus on network routers and infrastructure-support devices wasn't keeping up with the huge move away from in-house tech solutions toward cloud-based outsourced technology infrastructure. Now, Cisco has shifted toward high-growth areas that include infrastructure-as-a-service initiatives, the Internet of Things, and information security. After going through the usual speed bump in moving from a business model based on large one-time chunks of sales to a subscription-based recurring revenue business, Cisco has turned the corner, and investors now expect sales to keep on the upswing. There's plenty of competition in the industry, and Cisco can't let up now. Yet if it keeps executing well, Cisco could make the same progress a decade from now that Apple has seen between 2008 and today. 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. Dan Caplinger owns shares of Apple. Danny Vena owns shares of Amazon, Apple, Netflix, and Shopify. Jason Hall owns shares of Amazon, Apple, Cisco Systems, Netflix, and Shopify. The Motley Fool owns shares of and recommends Amazon, Apple, Netflix, and Shopify. 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 Cisco Systems. The Motley Fool has a disclosure policy . || South Korea plans to ban cryptocurrency trading, rattles market: By Cynthia Kim and Dahee Kim SEOUL (Reuters) - The South Korean government on Thursday said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation's police and tax authorities raided local exchanges on alleged tax evasion. The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymaker around the world struggled to regulate an asset whose value has skyrocketed over the last year. Justice minister Park Sang-ki said the government is preparing a bill to ban trading of the virtual currency on domestic exchanges. "There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," said Park at a press conference, according to the ministry's press office. A press official said the proposed ban on cryptocurrency trading was announced after "enough discussion" with other government agencies including the nation's finance ministry and financial regulators. Once a bill is drafted, legislation for an outright ban of virtual coin trading will require a majority vote of the total 297 members of the National Assembly, a process that could take months or even years. The government's tough stance triggered a selloff of the cyrptocurrency on both local and offshore exchanges. The local price of bitcoin plunged as much as 21 percent in midday trade to 18.3 million won ($17,064.53) after the minister's comments. It still trades at around a 30 percent premium compared to other countries. Bitcoin was down more than 10 percent on the Luxembourg-based Bitstamp at $13,199, after earlier dropping as low as $13,120, its weakest since Jan. 2. South Koreas cryptocurrency-related shares were also hammered. Vidente <121800.KQ> and Omnitel <057680.KQ>, which are stakeholders of Bithumb, skidded by the daily trading limit of 30 percent each. Park Nok-sun, a cryptocurrency analyst at NH Investment & Securities, said the herd behavior in South Korea's virtual coin market has raised concerns. Indeed, bitcoin 's 1,500 percent surge last year has stoked huge demand for cryptocurency in South Korea, drawing college students to housewives and sparking worries of a gambling addiction. "Virtual coins trade at a hefty premium in South Korea, and that is herd behavior showing how strong demand is here," Park said. "Some officials are pushing for stronger and stronger regulations because they only see more (investors) jumping in, not out." RAIDS There are more than a dozen cryptocurrency exchanges in South Korea, according to Korea Blockchain Industry Association. The proliferation of the virtual currency and the accompanying trading frenzy have raised eyebrows among regulators globally, though many central banks have refrained from supervising cryptocurrencies themselves. The news on South Korea's proposed ban came as authorities tightened their grip on some of the cryptocurrency exchanges. The nation's largest cryptocurrency exchanges like Coinone and Bithumb were raided by police and tax agencies this week for alleged tax evasion. The raids follow moves by the finance ministry to identify ways to tax the market that has become as big as the nation's small-cap Kosdaq index in terms of daily trading volume. Some investors appeared to have taken preemptive action. "I have already cashed most of mine (virtual coins) as I was aware that something was coming up in a couple of days, said Eoh Kyung-hoon, a 23-year old investor. Bitcoin sank on Monday after website CoinMarketCap removed prices from South Korean exchanges, because coins were trading at a premium of about 30 percent in Asia's fourth largest economy. That created confusion and triggered a broad selloff among investors. An official at Coinone told Reuters that a few officials from the National Tax Service raided the company's office this week. "Local police also have been investigating our company since last year, they think what we do is gambling," the official, who spoke on condition of anonymity, said and added that Coinone was cooperating with the investigation. Bithumb, the second largest virtual currency operator in South Korea, was also raided by the tax authorities on Wednesday. "We were asked by the tax officials to disclose paperwork and things yesterday," an official at Bithumb said, requesting anonymity due to the sensitivity of the issue. The nation's tax office and police declined to confirm whether they raided the local exchanges. South Korean financial authorities had previously said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime. ($1 = 1,069.9600 won) (Reporting by Dahee Kim & Cynthia Kim; Editing by Shri Navaratnam) || EUR/GBP Price Forecast December 29, 2017, Technical Analysis: The EUR/GBP pairwent sideways initially during the trading session on Thursday, but then shot higher, reaching towards the 0.89 handle. On a break above that level, I think the market goes higher, based upon an ascending triangle that I see on the chart, showing strength in the EUR, and of course the overall distrust of the British pound currently. I think longer-term, traders are going to favor going long in this pair, because of the European Union and the certainty that goes along with the established economy. Ultimately, I think that it comes down to being comfortable more than anything else. The currency pair tends to be very choppy, as the economies are so intertwined, and that of course makes quite a bit of sense as we have a lot of headlines coming out of the negotiations from both Brussels and London, and as a result it’s likely that we will get sudden moves.
The ascending triangle measures for a move towards the 0.90 level, which is a massive resistance barrier, and the top of a longer-term consolidation range. If we can break above the 0.90 level, then I think we go to the 0.93 level after that as it was the most recent high. A break above there could have this market go looking towards the 0.95 level, and then eventually the parity level. I think given enough time, parity is the goal, but it is probably going to take a long time to get there. I have no interest in shorting this market until we break way down below, perhaps below the 0.88 handle.
Thisarticlewas originally posted on FX Empire
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• FTSE 100 Price Forecast December 29, 2017, Technical Analysis || South Korea to ban cryptocurrency traders from using anonymous bank accounts: By Cynthia Kim
SEOUL (Reuters) - South Korea will ban the use of anonymous bank accounts in cryptocurrency trading from Jan. 30, regulators said on Tuesday in a widely telegraphed move designed to stop virtual coins from being used for money laundering and other crimes.
The measure comes on top of stepped up efforts by Seoul to temper South Koreans' obsession with cryptocurrencies. Everyone from housewives to college students and office workers have rushed to trade the market despite warnings from global policymakers about investing in an asset that lacks broad regulatory oversight.
The bitcoin price in South Korea extended loss following the latest regulatory announcement, down 3.34 percent at $12,699 as of 0409 GMT, according to Bithumb, the country's second-largest virtual currency exchange.
Bitcoin <BTC=BTSP> slumped nearly 20 percent last week to a four-week low on the Luxembourg-based Bitstamp exchange, pressured by worries over a possible ban on trading the virtual asset in South Korean exchanges. In Tuesday afternoon trade, it was up 5.4 percent at $10,925.
Policy makers around the world are calling for tougher, coordinated regulation of cryptocurrency trading. South Korea's chief financial regulator last week said the government may consider shutting down domestic virtual currency exchanges.
South Korea's Presidential office has clarified that an outright ban on trading on the virtual currency exchanges is only one of the steps being considered, and not a measure that has been finalized.
"The government is still discussing whether an outright ban is needed or not, internally," a government official who declined to be named said after Tuesday's briefing.
Over the past month, government statements have underscored differences between the Justice Ministry, which has pushed for a more hardline approach, and regulators who have shown a reluctance to enforce an outright ban.
Starting Jan. 30, cryptocurrency traders in South Korea will not be allowed to make deposits into their virtual currency exchange wallets unless the names on their bank accounts matches the account name in cryptocurrency exchanges, Kim Yong-beom, vice chairman of the Financial Services Commission told a news conference in Seoul.
"Everyone knew this was coming, as the government already said they will enforce the real-name system before. Rather, I can see this as a chance to go in, not out. I don't see any reason to take my money out," said a local bitcoin investor who only agreed to be identified by his family name Ahn.
The regulator has previously said it will come up with detailed guidelines for local banks to properly identify its clients by their real names in cryptocurrency transactions.
To make deposits into virtual coin wallets, cryptocurrency traders will need to identify themselves with their real names at the exchange and have those matched with information at local banks by Jan. 30.
(Reporting by Cynthia Kim; Additional reporting by Dahee Kim; Editing by Sam Holmes & Shri Navaratnam) || Why BP Prudhoe Bay Royalty Trust, Albemarle, and Adtran Slumped Today: The stock market eased lower on Thursday, pulling back from its gains earlier in the week as major benchmarks finished with modest losses of less than half a percent. Despite ongoing optimism about corporate earnings, the fear of a possible government shutdown this weekend has some investors nervous about what could be a difficult political environment in Washington throughout 2018 in the run-up to the midterm elections. Some individual stocks also reacted negatively to specific news affecting their businesses. BP Prudhoe Bay Royalty Trust (NYSE: BPT) , Albemarle (NYSE: ALB) , and Adtran (NASDAQ: ADTN) were among the worst performers on the day. Below, we'll look more closely at these stocks to tell you why they did so poorly. BP Prudhoe Bay drops following dividend Shares of BP Prudhoe Bay Royalty Trust fell 9% after the crude oil-focused royalty trust locked in its quarterly distribution to investors. BP Prudhoe Bay's payout was substantial, at $1.23 per unit, representing about 5% of its price as of Wednesday's close. The price decline mentioned above was on top of the drop in value stemming from the dividend, indicating that at least some investors were only interested in capturing the greater-than-normal payout and getting out as quickly as possible. With investors uncertain about how long the trust will continue to operate and therefore how long they can expect to keep receiving dividend distributions, that caution is warranted. Two workers next to a wellhead having a conversation, on a field covered in ice or snow. Image source: BP Prudhoe Bay. Albemarle loses its charge Shares of Albemarle dropped 7% in the wake of continued pressure on stocks related to the lithium market. Lithium has been red-hot lately , helping to lift Albemarle by more than 175% over the past couple of years. Yet with strong demand for lithium for use in batteries and other applications, rival suppliers are looking at ways to boost production, and that could in turn lead to price cuts that would dampen Albemarle's ability to sustain profit growth. With today's drop, the top lithium producer has seen its shares lose 12% in just three days, but that's only a small portion of the gains that long-term shareholders have enjoyed. Story continues Adtran extends its losses Finally, Adtran stock finished down 11.5%. The networking and communications equipment provider continued to lose ground following the release of its fourth-quarter financial results late Tuesday, which included massive sales declines of 22% and a net loss for the period. The bad news had largely been anticipated , and CEO Tom Stanton tried to maintain a positive view on Adtran's business prospects, pointing to efforts to help customers make the transition to faster networks. Nevertheless, with the stock having lost 15% in just two days, Adtran shareholders are having a clear crisis of confidence that the company will need to fight aggressively in order to regain lost ground. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Peter Thiel's Founders Fund Goes Big on Bitcoin: Peter Thiel and his venture capital firm, Founders Fund, are big believers in Bitcoin.
The PayPal co-founder and other Founders Fund partners bought $15 million to $20 million worth of thecryptocurrencythat’s now worth hundreds of millions of dollars, according to aWall Street Journalreporton Tuesday that cites unnamed sources.
The report didn’t say exactly when Thiel or his VC firm first bought Bitcoin, whose value hasfluctuatedfromrecord highsto dramaticdeclinesin recent months. The volatility has alarmed some economists, who worry of abubble.
Thiel and the Founders Fund, however, don’t appear to share those concerns, and are instead pitching Bitcoin to their investors as “a high-risk, high-reward wager similar to its other venture bets,” the report said.
Get Data Sheet, Fortune’s technology newsletter.
Shares of Bitcoin jumped over 13% on Tuesday from $13,412 to $15,216 after the report, according toCoindesk.
In October, Thielreportedlysaid during an investment conference in Saudi Arabia that people are “underestimating” Bitcoin and he compared the cryptocurrency to gold.
“If bitcoin ends up being the cyber equivalent of gold it has a great potential left,” he said at the time. About other cryptocurrencies, however, Thiel said he was “skeptical of most of them.”
Other cryptocurrencies includeRipple, Ethereum, and Litecoin.
A Founders Fund spokesperson declined to comment on the report.
[Random Sample of Social Media Buzz (last 60 days)]
bitcoin priceってゆうか、 || Tiffany Haddishちゃんが || bitcoin miner s3 bitmain - C $250.00 End Date: Tuesday Jan-16-2018 12:49:18 EST Buy It Now for only: C $250.00 Buy It Now | Add to watch list http://ow.ly/I1J450fLumT || Tiffany Haddishちゃんが || Jan 07, 2018 06:30:00 UTC | 16,544.00$ | 13,752.00€ | 12,192.10£ | #Bitcoin #btc pic.twitter.com/y7Wu9TKv4N || Hey guys if any of you have heard about bitcoin and are thinking you want to get in on this stupid investment. I can help ya out. I also have a few thoughts about other coins that I think are going to do quite well in the future. Let me know!! #crypto || As #Bitcoin hits $16,000 valuation, Indians are rushing to get some https://goo.gl/x6Ziex https://twitter.com/BitcoinWrld/status/939259010699661318/photo/1pic.twitter.com/kB2XeyS5xI || bitcoin priceってゆうか、 || NYSE #Owner on #Bitcoin #Futures: “We May Be Stupid for Not Being First” https://goo.gl/fb/GCSBjP #emergingmarkets || It's Time to Change the Way We Measure Bitcoin http://bit.ly/2kgKRdU #bitcoin #crypto #news
|
Trend: down || Prices: 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-08-22]
BTC Price: 586.75, BTC RSI: 45.49
Gold Price: 1337.70, Gold RSI: 50.18
Oil Price: 47.05, Oil RSI: 58.98
[Random Sample of News (last 60 days)]
Fully understand the Fintech Ecosystem with this report: (BI Intelligence)
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.
No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution.
The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:
• Traditional Retail Banks vs. Online-Only Banks:Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees .
• Traditional Lenders vs. Peer-to-Peer Marketplaces:P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful .
• Traditional Asset Managers vs. Robo-Advisors:Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.
As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.
After months of researching and reporting this important trend, Business Insider Intelligence has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:
• Retail banking
• Lending and Financing
• Payments and Transfers
• Wealth and Asset Management
• Markets and Exchanges
• Insurance
• Blockchain Transactions
If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.
(BI Intelligence)
Evan Bakker ofBI Intelligence, Business Insider's premium research service, has written a new report entitledThe Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry. The big picture insights you’ll get from this new report include:
• Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.
• The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.
• Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.
• Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.
• The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.
This exclusive report also:
• Explains the main growth drivers of the exploding fintech ecosystem.
• Frames the challenges and opportunities faced by incumbents and startups.
• Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.
• Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech
• Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.
• Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.
• And much more.
The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industryis how you get the full story on the fintech revolution.
To get your copy of this invaluable guide to the fintech revolution, choose one of these options:
1. BEST VALUE: Join our BI Intelligence INSIGHTS service level and gain immediate access to this report PLUS much more. >>START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology.
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• Donald Trump sidesteps Hillary Clinton, says he's running against 'the crooked media' || Former U.S. Secret Service agent suspected in additional Bitcoin thefts: By Joseph Menn SAN FRANCISCO (Reuters) - A Secret Service agent who stole money seized by the government in the investigation of underground drug bazaar Silk Road is now suspected of stealing money in at least two other cases, according to court filings unsealed on Thursday. In the larger of those cases, he is thought to have been behind the theft of about $700,000 worth of Bitcoin from a Secret Service account three months after the agency was urged to block his access, the documents say. Former agent Shaun Bridges pleaded guilty last year and was sentenced in December to nearly six years in prison for stealing more than $800,000 of the crypto currency Bitcoin during the Silk Road investigation. According to an affidavit unsealed Thursday, the Justice Department learned in April 2015 that Bridges might have kept a private cryptographic key giving him access to a Bitcoin wallet with the $700,000 in currency that the Silk Road task force had seized in 2014. The department urged the agency to move the funds elsewhere. “Unfortunately, the U.S. Secret Service did not do so and the funds were thereafter stolen, something the U.S, Secret Service only discovered once it was ordered by a court to pay a portion of the seizure back to affected claimants,” a team of prosecutors wrote in an accompanying motion. The Bitcoin in question was moved in July 2015 but only discovered missing in December, the affidavit said. The Secret Service and Bridges' attorney Steven Levin declined to comment. In the previous case, Bridges admitted he stole money from Silk Road accounts and framed someone else for it, leading Silk Road chief Ross Ulbricht to plan a murder. Ulbricht is now serving a life sentence. (Reporting by Joseph Menn; Editing by Cynthia Osterman) || Bitcoin Plunges, Hong Kong Exchange Says Millions Stolen in Hacking: DailyFX.com - Talking Points: Bitcoin extends fall as news of an exchange hack reignited cybersecurity fears with cryptocurrencies Chinese Bitcoin exchange halts trading to investigate hack resulting in $65 Million in losses Bitcoin prices rebound on open exchanges following the hack, only one exchange was effected Havi ng trouble trading Foreign Exchange ? This may be why . Bitcoin suffered one of its worst declines in years through the open of this week. News that trading was halted on Bitfinex exchange after a hack resulting in $65 million theft unnerved traders. Bitcoin fell a little over 24 percent through Tuesdays low following the announcement of the hack. Bitfinex remains closed, however for though open exchanges the Bitcoin-USD pair (BTC/USD) rallied by more than 20 percent from lows through Wednesday. The hacked exchange is expected to remain closed for the next few days as investigations continue to uncover more information. Volume in BTC/USD trading spiked significantly through the decline and on the news of the hack. Average volume on for the cryptocurrency pair on the Bitstamp exchange rose to more than 22,000 on Tuesday and over 15,000 Wednesday the 20-day average before these large movements was a comparatively restrained 4,400. Cybersecurity remains a chief concern for the cryptocurrency and its numerous exchanges worldwide, as it is traded and used entirely over a network. The recent hack on the Hong Kong exchange is not the first. The largest bitcoin exchange in the world Mt. Gox, filed for bankruptcy in 2014 and admitted to being hacked, resulting in the loss of $460 Million in bitcoin. The cryptocurrency has become extremely popular since it was first introduced 7 years ago, to better understand its role in the financial markets check out DailyFXs Forex Trading Instructor Tyler Yell piece on Bitcoin . Bitcoin Plunges, Hong Kong Exchange Says Millions Stolen in Hacking original source DailyFX provides 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 from FXCM . || 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) || If you follow Warren Buffett's methodology, stocks are significantly overvalued: When I turned bearish in January 2016 I missed three critical elements that caused the S&P 500 to grind toward record highs. First, a sufficient number of other investors did not share my skepticism about the global economy. Second, I misjudged investor faith in central bankers. Third, I underestimated the continued global appetite for yield bearing stocks. However, in recent days a host of big money investors have been vocally bearish. Does this mean the herd is turning and that I may have just been early? Perhaps, but what are these investors seeing that has led them to embrace my skepticism? Risk versus reward. Big money understands that investing is more about balancing risk and reward than about being "right." Investing is a game of probability, and since nobody has a crystal ball, the best we can all do is make educated guesses and place bets when the odds are in our favor. The odds may no longer be in equity investor's favor. Warren Buffett is one of the biggest investors in the world and his preferred method for valuing the stock market is now suggesting that U.S. stocks are significantly overvalued. Buffett has stated that using Total Market Capitalization to GDP is "probably the best single measure of where valuations stand at any given moment." For those who want to dig deeper into this valuation metric the website Gurufocus.com is a great resource. Currently, the ratio of Total Market Cap (as measured by the Wilshire Total Market Index (NYSE Arca: .W5000FLT) ) to GDP is 121 percent. There is only one other time since 1971 that this ratio has registered such an overvalued reading…that was in December of 2000. Moreover, GuruFocus has tracked market returns using this indicator and at current levels it suggests the total expected yearly return for U.S. stocks is 0.1 percent, including dividends. The current dividend yield is roughly 2.04 percent, which means this indicator is forecasting that stocks will fall by 2 percent over the next year. Story continues Think about that for a minute. The preferred valuation metric of the world's most successful and wealthiest investor is suggesting that there is little to no upside for stocks. When big money tries to calculate the risk of investing against the reward, a negative return will simply not compute. To my mind, this could be the reason that the likes of high-profile investors Jeff Gundlach and Bill Gross have suggested either selling everything or buying gold. In addition to the lack of reward, faith in the ability of central bankers to manufacture an economic recovery is being challenged. Over the last few trading sessions the yield on Japanese government bonds have jumped the most since 2013. In the aftermath of the 2013 Japanese yield spike the Japanese stock market fell more than 7 percent Will history repeat? Japan has been the laboratory for experimental monetary policy for the better part of 20 years. Recently the head of the Bank of Japan called for a review of current policy to be released in September. The market reaction to this anticipated review has been decidedly negative. The implication is that investors fear the Bank of Japan will admit defeat and no longer engage in market manipulation. I personally have my doubts that it will abandon its policies, but the crisis of faith is catalyst enough for investors to sell. Yet another reason big money is turning bearish. Finally, the search for yield is showing signs of coming to an end. Since the February 2016 market lows, the iShares Select Dividend ETF (NYSE Arca: DVY) (DVY) is up 17.5 percent, but interestingly the lower yielding Spyders ETF (NYSE Arca: SPY) (SPY) is up 18.23 percent. To be sure the outperformance of the lower yielding SPY is a recent phenomenon, but cracks in the foundation are appearing. Big money is turning bearish because the reward does not justify the risk. The market cap of U.S. stocks has far exceeded the value of GDP, typically a sign of negative stock market returns. The recent spike in Japanese yields has shaken investor faith in omnipotent central bankers, while the horn is blowing "Going Home" on the hunt for yield. For a few weeks in February my bearish view was accurate, but the fullness of time has proved I miscalculated the skepticism of others, the faith in central bankers and when the hunt for yield would end. Perhaps the recent growls from prominent investors is a signal that the herd is turning, but the truth is only time can tell. What is clear to me is that the risk of owning stocks is simply not justified by the reward. I continue to remain defensive on U.S. equities and share the bullish view on gold. Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the " The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World ." Kelly, a CNBC contributor, often appears on " Fast Money ." Follow him on Twitter @BKBrianKelly . For more insight from CNBC contributors, follow @CNBCopinion onTwitter. || Direxion Adds News ETFs, Reverse Splits 4 ETFs, Forward Splits 5 ETFs: Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, announced Wednesday it has added two new ETFs to its existing lineup of leveraged and inverse ETFs. The Direxion Daily European Financials Bull 2X Shares (Ticker: EUFL) seeks to achieve 200% of the daily performance of the MSCI Europe Financials Index. Meanwhile, The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100% of the inverse of the daily performance of the NYSE Arca Gold Miners Index. Direxion_Daily Sylvia Jablonski, Managing Director at Direxion, said the company had recently seen instability in European markets, with the post-Brexit effect yet to subside as political and economic uncertainties remain. The launch of the European Financials leveraged ETF is timely, as market reaction to the EU situation presents the chance for bullish traders to magnify their short-term perspective, Jablonski said. Our new Gold Miners bear ETF will complement the existing suite of ETFs tracking that space, to give traders another option for taking advantage of short-term opportunities. Direxion Announces Reverse and Forward Share Splits of Nine Leveraged ETFs Direxion also announced it will execute reverse share splits for four of its leveraged exchange-traded funds, as well as forward share splits for another five leveraged ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below. Four Reverse Splits Direxion will execute a 1-for-4 reverse split of the Direxion Daily Natural Gas Related Bear 3X Shares (GASX) . The firm will also execute a 1-for-5 reverse split of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP) , Direxion Daily Gold Miners Index Bear 3X Shares (DUST) and Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) . The splits are effective at the open of the market on Aug. 25, 2016. Story continues A summary of the four ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective Aug. 25, 2016): Direxion_Reverse_Splits As a result of this reverse split, every four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value (NAV) and next days opening market price will be approximately four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the NYSE Arca) on a split-adjusted basis on Aug. 25, 2016. The next days opening market value of the Funds issued and outstanding shares, and thus a shareholders investment value, will not be affected by the reverse split. Trending on ETF Trends Nasdaq Adds Big Q2 Haul of New ETP Listings, Switches ARK Launches ETF Solely Focused on 3D Printing SolidX Reveals Plan to Launch a Bitcoin ETF A Big Day for ETFs as 5 Sponsors Launch New Products OLearys OShares Seeks Big Additions to its ETF Lineup Five Forward Splits Additionally, Direxion will execute forward splits of the Direxion Daily Brazil Bull 3X Shares (BRZU) , Direxion Daily Real Estate Bull 3X Shares (DRN) , Direxion Daily 20+ Treasury Bull 3X Shares (TMF) , Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) and the Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) . After the close of the markets on Aug. 24, 2016 (the Payable Date), each Fund will affect a split of its issued and outstanding shares as follows: Direxion_Daily_Markets As a result of these share splits, shareholders of each Fund will receive an additional four, five or 10 shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Funds issued and outstanding shares will increase by the approximate percentage indicated above. All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the NYSE Arca) on Aug. 23, 2016 (the Record Date), payable after the close of the NYSE Arca on the Payable Date. Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on Aug. 25. 2016 (the Ex-Date). Related: Direxions New Bearish Junk Bond ETF to Hedge Market Risks On the Ex-Date, the opening market value of each Funds issued and outstanding shares, and thus a shareholders investment value, will not be affected by the share split. However, the per share net asset value (NAV) and opening market price on the Ex-Date will be approximately one-fourth, one-fifth or one-tenth for the Funds. The tables below illustrate the effect of a hypothetical 4-for-1, 5-for-1 and 10-for-1 split on a shareholders investment. Click here to read the full story on ETF Trends. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product. || The newest Bitcoin price surge isn’t just about Brexit: The price of the digital currency bitcoin is up 15% in the past 24 hours, and you might reasonably think it has something to do with the massive global economic event that took place on Thursday. And you’d be right.
But that isn’t the whole story.
Headlines are shouting that bitcoin is up because ofBritain’s vote to leave the European Union, which has sent its own currency,the pound, plummeting to a 31-year low. Yes, Brexit may be helping bitcoin, but as with every bitcoin spike, there are many other factors at play.
“I’d say Brexit is just one sub-item of one of those factors,” says Gil Luria, a Wedbush Securities analyst who has a pretty good track record on the bitcoin price. In July 2015, when the price was around $250, heprojected it would reach $400in one year. In October, herevised the projection to $600. The coin is currently trading at $650.
So, what are the factors that cause occasional bitcoin spikes?
The first, and typically biggest, is China. It’s the biggest country for bitcoin trading activity and speculation (if not for bitcoin startup headquarters) and bitcoin is increasingly the vehicle of choice for capital exits from the yuan. The yuan is sinking as well at the moment, approaching a six-year low at the time of writing, and it is possible some tech-savvy Chinese investors are turning to bitcoin.
Second, The Great Bitcoin Halving approaches. Huh? Here’s a quick-and-dirty summary: All bitcoin transactions are recorded onthe bitcoin blockchain, a public, decentralized, permissionless ledger. The transactions are recorded in bundles, called “blocks,” by “miners” who receive a small award in bitcoin for mining. Beginning in July, the reward that miners receive per block is being cut in half, for the second time in bitcoin’s history. The result of the halving will reduce the creation of new bitcoins from 9% down to about 4% per year, and while the effect of this on the price is up for debate, many believe the anticipation of the change is bringing up the price."People are excited" about the halving, Luria says.
Third, general uncertainty and fear help bitcoin. Brexit is just the latest example of this. Bitcoin rose when the Greek debt crisis came to a head. It typically rises whenever a major country’s economy roils. That’s because bitcoin is an “uncorrelated asset” much like gold. “Bonds, stocks, home prices always go in the same direction,” Luria says. “But bitcoin is a place to hide in times of uncertainty. I’d rather have the volatility of bitcoin with the knowledge that my currency is going to get depreciated by 30% in the next few months. Bitcoin has its own drivers, its own value, and it’s not going to go up and down because of the actions of central banks.”
It's important to note that bitcoin has already been on an absolute tear this summer.
One month ago, the price was in the $400 range. Last week, it nearly hit $800. It’s up 57% in the past three months and 170% in the past year. It has been on a ride that briefly reversed earlier this week, when the price began falling again. Now it's been buoyed back up on the Brexit news. But it is possible, perhaps likely, that the price would have risen again this week, or next, even without the news from England.
Nonetheless, bitcoin people are excited.
"The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution," said Mihir Magudia of digital currency LEOcoin, in an e-mailed comment. Barry Silbert, whoseDigital Currency Group has invested in a lion’s share of the hottest bitcoin startups, tweeted a bit of a grand statement on Thursday night about the price hike.
Before anyone goes ditching all their fiat currency for bitcoin, it’s worth keeping some perspective: the market cap of all the bitcoin in the world is only around $10 billion. That’s half an Under Armour.
The best piece of wisdom to remember whenever anyone analyzes the price of bitcoin is that no one really knows anything. It’s a volatile commodity, with fluctuations influenced by a whole host of factors and elusive sentiment.
--
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
Read more:
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Why 21.co is the most exciting bitcoin company right now
Coinbase is more bullish on bitcoin than ever || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on August 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up, he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) View comments || Does Tesla have enough juice?: Wall Street is in a bit of a funk. Stocks ( ^DJI , ^GSPC , ^IXIC ) started the day little changed as investors dissect the latest round of corporate results and keep close tabs on oil prices ( CL=F ). Meanwhile, private sector employment came in better than economists expected last month. Employers added 179,000 jobs in July. However, all the hiring was in the service sector, according to ADP and Moody’s Analytics. Time Warner invests in Hulu Time Warner ( TWX ) shares were sharply higher in early trading. The media giant is buying a 10% stake in Hulu and signed an agreement for all of its Turner networks to be carried on Hulu’s live-streaming services. The company also announced second-quarter earnings that beat expectations. However, revenue fell short of forecasts due to slow growth in its HBO and Warner Brothers businesses. Earnings watch list Tesla ( TSLA ) results are on tap after the market close. Analysts expect sales to be over $1.6 billion for the quarter. Tesla has dealt with a lot of bad news recently, including how the autopilot feature played a role in one fatal crash. Fitbit ( FIT ) shares soared in early trading. The maker of fitness-tracking wristbands delivered better than expected earnings and revenue for the second quarter. Sales soared nearly 47% from a year ago. Profit fell as operating expenses more than doubled with new investment on research and development of new products and marketing. Etsy ( ETSY ) got a nice pop this morning. The online crafts marketplace raised its outlook for the year after revenue topped estimates for the second quarter. Sales jumped 39% thanks to strong growth in seller services and users. Electronic Arts ( EA ), the video game publisher behind titles including “FIFA” and “Star Wars Battlefront,” swung to a profit last quarter. Revenue also beat estimates as players downloaded more digital versions of its games. However, the company’s revenue forecast for the current quarter was a tad less than what analysts were expecting. Story continues HP CEO backs Clinton Meg Whitman may be a Republican, but she’s backing Hillary Clinton. On LinkedIn, Whitman wrote, “Donald Trump’s demagoguery has undermined the fabric of our national character.” Meanwhile, the Hewlett Packard Enterprise ( HPE ) CEO praised Clinton for her temperament and global experience, which she says are major characteristics needed for a president. Bitcoin robbery Investigators are trying to find out who’s responsible for a major bitcoin heist. Almost 120,000 units of bitcoin were stolen from the Bitfinex exchange platform in Hong Kong. The Bitcoins are worth about $72 million. || Verizon is making a foray into the 'game changer' technology Wall Street is pumped about: (REUTERS/Steve Marcus)
Verizon Communications, the largest telecommunications company in the US, is experimenting with blockchain technology.
Blockchain technology, which powers Bitcoin and other cryptocurrencies, depends on a distributed ledger that allows users to verify transactions without an intermediary.
Autonomous Research has called the technology a "game changer," and Goldman Sachs has said that the technology "has the potential to redefine transactions."
Blockchain has tons of applications that are beingexplored by banks, startups, exchanges, and corporationsthat want to get in on the action.
Business Insider obtained a copy of the US patent, filed on May 10, for a passcode blockchain that Verizon has apparently been working on for three years.
The patent relates to digital content — think an e-book or a digital-music or video file. Verizon declined to comment.
Here is a passage from the filing:
"The DRM (digital rights management) system may maintain a list of passcodes in a passcodeblockchain. The passcodeblockchainmay store a sequence of passcodes associated with the particular digital content and may indicate a currently valid passcode. For example, a first passcode may be assigned to a first user and designated as the valid passcode. If the access rights are transferred to a second user, a second passcode may be obtained and added to theblockchain,provided to the second user, and designated as the valid passcode. Thus, the first passcode may no longer be considered valid. If the second user transfers the access rights to a third user, a third passcode may be obtained and added to theblockchain,provided to the third user, and designated as the valid passcode. Thus, the first and second passcodes may no longer be considered valid.
"Furthermore, the expiration date associated with the key may continue to be in effect with respect to the second user and/or any subsequent users. Thus, if access rights for a particular digital content are associated with a rental period, or a subscription period, users may continue to transfer the rights to other users during the rental period."
There is quite a bit of excitement about having digital rights on a blockchain-type system. It could allow for pay-per-usage, for example, while smart contracts — the contractual clauses that form part of a transaction — could provide automatic payment distributions, according to a Moody's Investors Service report.
A blockchain of digital rights for consumer products — music and news articles, among others — could ensure that artists or authors are paid immediately once a consumer reads an article or listens to a song, with funds proportionally distributed as per contractual clauses.
Given lower transaction costs on a blockchain, micro-payments through a blockchain would be more feasible, allowing for a pay-per-usage setup each time an article is read or a song is listened to.
NOW WATCH:Verizon CEO Lowell McAdam explains why he bought AOL
More From Business Insider
• GARTNER: The blockchain 'hype' has peaked
• Blockchain and bitcoin companies raised $290 million in the last 6 months
• World Economic Forum releases blockchain report
[Random Sample of Social Media Buzz (last 60 days)]
BTCTurk 1942.2 TL BTCe 629.48 $ CampBx $ BitStamp 641.00 $ Cavirtex $ CEXIO 638.29 $ Bitcoin.de 593.06 € #Bitcoin #btc || #Triangles #TRI $ 0.400160 (-17.22 %) 0.00061223 BTC (-17.00 %) || #EuroCoin #EUC $ 0.000258 (0.28 %) 0.00000045 BTC (-0.00 %) || The Hardware Bitcoin Wallet. Get Trezor now for only $99 https://buytrezor.com?a=coinokbuytrezor.com/?a=coinok #btc #bitcoin 00 pic.twitter.com/qWfWFCJHAc || BTCTurk 1949.9 TL BTCe 649.8 $ CampBx $ BitStamp 653.00 $ Cavirtex $ CEXIO 657.65 $ Bitcoin.de 591.71 € #Bitcoin #btc || Goedkoopste Nederlandse aanbieder op dit moment is Clevercoin (http://www.bitcoinweb.nl/kopen-clevercoin …) - 375.00 Euro/bitcoin - http://www.bitcoinweb.nl/prijzen-bitcoins-vergelijken/ … || #UFOCoin #UFO $ 0.000020 (1.92 %) 0.00000003 BTC (-0.00 %) || 1 MUE Price: Bittrex 0.00000061 BTC YoBit 0.00000049 BTC Bleutrade 0.00000055 BTC #MUE #MUEprice 2016-07-05 00:00 pic.twitter.com/5R4yLUyGgH || $655.00 at 22:45 UTC [24h Range: $652.28 - $661.99 Volume: 2392 BTC] || #TrinityCoin #TTY $ 0.000007 (-1.56 %) 0.00000001 BTC (-0.00 %)
|
Trend: down || Prices: 583.41, 580.18, 577.76, 579.65, 569.95, 573.91, 574.11, 577.50, 575.47, 572.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-10-04]
BTC Price: 8205.94, BTC RSI: 27.72
Gold Price: 1506.20, Gold RSI: 51.80
Oil Price: 52.81, Oil RSI: 39.22
[Random Sample of News (last 60 days)]
Bakkt Is Finally Launching Its Bitcoin Futures Today. Here’s What to Expect: Bakkt is finally here.
Aftertwodelaysand 13 months of questions, the Intercontinental Exchange-backedbitcoin warehouseand futures contract facilitator is launching Monday, opening the door for institutional investors to take positions on the cryptocurrency in a federally regulated venue.
Trading is set to open at midnight UTC and close at 22:00. For the first time, interested observers will be able to see just how much pent-up demand there is among big-money traders for this hotly anticipated service. Bakkt’sdata feedwill be freely available through June of next year, after which it will require a subscription, according to a companyFAQ.
Related:Bakkt Exchange’s Bitcoin Futures See Slow Start on First Day of Trading
As often noted, Bakkt’s futures will be physically settled, meaning buyers receive bitcoin at expiration, whereas the futures available since 2017 at the Chicago exchange CME Group are cash-settled – essentially side bets on the cryptocurrency’s price.
But what may be most unique about ICE’s bitcoin futures contracts is that they expire after a day. According to the daily contract’s specifications, the bitcoin will be delivered on the second business day after the contract’s date.
For most commodities –frozen concentrated orange juice,cocoa,what have you– the underlying asset is typically not delivered for at least 30 days (although ICE also offers one-day contracts for silver and gold).
While Bakkt is also offering a 30-day bitcoin futures contract, the one-day version will essentially allow institutions to buy or sell bitcoin in a way that’s more familiar to them than the helter-skelter world of crypto exchanges.
Related:CME Files to Double Monthly Bitcoin Futures Open Position Limit to 10K BTC
AsLanre Sarumi, CEO of crypto derivatives exchange operatorLevelTradingField, put it:
“The dailies make their offering like the cash market, but with the ability to short. That’s huge.”
The contract is “well-designed,” Sarumi added. “The basis to the cash market would be very tight. It’ll be interesting to see if it’s the lead or the follower. In theory the cash market should dictate the price of the derivatives [futures] market. In practice, it’s the other way around for a lot of commodities.”
For this reason, Sarumi said he believes the daily contract “will come out of the gate strong.”
That being said, it is unlikely that ICE’s new futures contracts will have a significant near-term impact on the general crypto market, particularly given the company is not looking for retail customers, who make up the bulk of traders still.
Bakkt anticipates significant institutional demand for its futures contract, though it remains to be seen how significant it actually is.
“We could see decent trading volumes for the product,” saidJohn Todaro, director of research atTradeBlock, a provider of institutional trading tools. “I would expect, however, that the demand would be somewhat in line with current cash-settled contracts, such as those offered bythe CME.”
Trading volumes for derivatives contracts traditionally outpace trading volumes seen in the underlying spot market, Todaro told CoinDesk.
“As the digital currency space continues to mature we should see an increase in volumes for these products relative to spot over time,” he said.
However, it is unlikely that there will be an immediate surge in demand. Institutional adoption won’t occur with a single catalyst, Todaro said, adding:
“It will take time for these entities to become comfortable with the asset class, identify strategies that are best used to trade the space, understand crypto market liquidity, and also understand the different regulatory and tax obligations across jurisdictions they operate in.”
It is unclear how much bitcoin has been sent to Bakkt since the New York Stock Exchange’s sister company opened its warehouse up for customers to deposit bitcoinon Sept. 6. Each customer must pledgea minimum $3,900of assets in collateral to purchase a contract. (Speculators must pledge nearly $4,300.)
Bakkt has not disclosed any addresses for its custodian’s wallet or said how much bitcoin has been deposited since the warehouse opened this month. A spokesperson did not answer questions about the matter by deadline.
Caveats aside, ICE launching futures contracts is a significant move for the industry. Todaro noted that “traditional financial institutions are quite conservative.”
“The offering demonstrates that more and more Wall Street institutions are taking a close look at digital currencies and want to gain exposure to this new asset class,” he said.
It is possible that “some of the recent positive market moves across digital currencies have been from traders acting on the Bakkt launch,” Todaro said.
Bakkt’s launch may be a positive sign for other highly anticipated products in the U.S., such as a bitcoin exchange-traded fund (ETF). Last week. Securities and Exchange Commission (SEC) Chairman Jay Clayton expressed concerns with the cryptocurrency market’s maturity.
Derivatives products, like futures contracts, are more tightly regulated than the underlying spot market, and may be more comforting to regulators and potential institutional customers alike.
Todaro concluded:
“This offering, in addition to the CME’s, can help regulators become more comfortable with digital asset trading and market infrastructure.”
Bakkt CEO Kelly Loeffler image via CoinDesk archives
• Bakkt to Require $3.9K Down Payment on Bitcoin Futures Contracts
• Customers Can Deposit Bitcoin to Bakkt’s Warehouse Starting Next Week || Beyond USD: The Next Frontier for Stablecoins: George Harrap is CEO and co-founder of Hong Kong based Bitspark, a bankless money transfer ecosystem focused on Asia and Africa.
This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. To keep the conversation going in person, register forInvest: Asia 2019coming up in Singapore on Sept. 11-12.
Stablecoins are prevalent at all levels of crypto transactions these days, from the largest spot markets on exchanges like Binance to the trading pair of choice by many Hong Kong and mainland China OTC desks. The reason for the demand is simple: stablecoins provide a bridge between the fiat and crypto worlds.
Related:Central Banks, Stablecoins and the Looming War of Currencies
However, not all stablecoins are the same. From currency peg to counterparty risk, there are two competing models duking it out at the moment:trustedandtrustlessstablecoins, with each referring to different levels of counterparty collateral risk.
We prefertrustlessstablecoins as that model eliminates the counterparty risk of needing to trust a company, auditor, bank and humans in general.
The top 5 stablecoins in the market are all pegged to the US dollar and while USD is a reserve currency, that market is quite saturated already. In contrast, the opportunity in the other 180 fiat national currencies used by the majority of the world has barely been realised. That’s where the next frontier for stablecoins is.
In operating Bitspark in many emerging markets we have heard first hand from individuals, NGOs and companies how bank collapses are somewhat common and trust in government and banking is rock bottom. Access to digital cash that’s publicly visible and under the ownership of the individual would eliminate these problems and this is what Bitspark has been pioneering with PHP, IDR, VND pegged stablecoins for our remote money exchange agents.
Related:Crypto Exchange Binance Announces New Stablecoin Initiative
There are interesting trading opportunities here too. Exotic currencies around the world almost always depreciate against the US dollar with recent examples found in Venezuela, Argentina, Turkey, Zimbabwe and Iran.
A good trade here would be to short those currencies via placing a dollar stablecoin as collateral to back the issuance of these currencies and then selling them for dollars. Bitcoin traders, merchants, and individuals need to use these currencies everyday anyway, so there is a market of buyers to which issuers can sell to.
Over time as the issued currency depreciates, the collateral value backing it becomes more valuable relative to the issued currency, enabling the issuer to withdraw or exchange excess collateral. Having already sold their issued coins on Day 1, they have effectively shorted the exotic currency without having to deal with any questionable local custodian – that’s almost impossible to do within traditional financial services
At Bitspark, we are creating trustless stablecoins for every currency in the world having recently launched an exciting product with Stable.PHP, a stablecoin pegged to the Philippine Peso backed by BitUSD (the first and oldest stablecoin in existence) using the Bitshares protocol.
I will be discussing more about some of the trading opportunities in taking short positions on Stable.PHP at this year’s Invest.Asia conference in Singapore. For example, when your collateral is BitUSD and you are issuing an exotic currency like Stable.PHP, you can take a leveraged position long or short.
Our set of exotic stablecoins will only be expanding through the year enabling more people to access a digital financial system in their local currency.
Abacus image via Shutterstock
• Walmart Wants to Patent a Stablecoin That Looks a Lot Like Facebook Libra
• Marijuana-Focused Stablecoin Issuer Added to Arizona Fintech Sandbox || Bitcoin wallet Blockchain.com creates its own crypto exchange: Blockchain.com, a popular cryptocurrency wallet, has now branched out into offering an exchange service called PIT that it claims is the fastest in the world. The PIT is an institutional-grade cryptocurrency trading platform that will also cater to the retail market. The exchange will, initially, be open to more than 200 countries and offer 26 trading pairs, including the U.S. Dollar, the Euro, and the British Pound. The PITs most significant selling point is its speed. The exchange boasts that it makes trades in microseconds, not milliseconds (1 millisecond is equivalent to 1,000 microseconds) and has been in the works for a year. This USP, the team hopes, will be enough to tempt users away from more established exchanges, like Binance and Coinbase . We delivered
a matching engine that could go head-to-head against any machine engine in the entire world, it said in a statement . Speed is a decisive factor for traders. Small delays can cause changes in price, particularly during high-frequency trading. The PIT will also be hosted at Equinix LD4, which is a low-latency data centre, based in the UK, to ensure there will be few delays for traders. Finally, to hit the ground running, Blockchain.com says it has already made partnerships with global market makers to provide initial liquidity. Binance CEO Changpeng Zhao was briefly the CTO at Blockchain.com before he was fired in early 2014. He went on to create Binance, the biggest crypto exchange in the world. Blockchain.coms CTO has some serious boots to fill. || Is there a Bitcoin miner import scheme happening in Russia?: The Federal Customs Service (FCS) in Russia is investigating allegations of unpaid customs fees for over 6,000 Bitcoin miners imported into the country. Cryptocurrency mining is the process of mining electronic currencies using modern equipment and special programs that allow you to gradually accumulate Bitcoins and other digital coins. The relevance of cryptocurrency mining is as high as ever in Russia since the country is still working on regulation for the sector. The Russian government has taken a strict stance on cryptocurrencies since the arrival of Bitcoin in 2009, and as such many laws surrounding mining are still murky. Now it seems that some groups are attempting to exploit this grey area by importing Bitcoin miners illegally and evading taxation. The FCS tightens control The Russian FCS has demanded that subordinate customs authorities tighten control over the movement of equipment for cryptocurrency mining. Due to the fact that the equipment for cryptocurrency mining operates on the basis of certain cryptographic algorithms, it is subject to restrictions that apply to the import of goods with encryption and cryptography functions. Mining equipment imported by individuals as goods for personal use, including shipment by international mail, must be declared to customs officials. Also, according to information from the Office of Trade Restrictions, Currency, and Export Controls, cryptocurrency mining equipment is subject to two technical regulations regarding the safety of low-voltage equipment and the electromagnetic compatibility of technical equipment. A conformity assessment of such equipment is carried out by customs officials to ensure it adheres to these regulations. The main manufacturer of Bitcoin miners and ASIC devices is the Chinese company Bitmain. The production of graphics cards for mining is carried out by the American companies Nvidia and AMD. As such, these miners need to comply with certain requirements for foreign devices and must be declared and checked. Story continues Russian police investigate Most ASIC miners arrive in Russia using illegal import schemes. More than 70% of miners enter the country through these schemes as a way of evading tax. The FCS has launched a criminal investigation into the case of an alleged exporter of Bitcoin mining equipment called the Far Eastern Commercial and Industrial Company. The company is accused of not paying customs duties on 6,000 Bitmain ASIC miners amounting to around $1.2 million. The Bitmain ASIC miners in question are touted as energy-saving Bitcoin miners with high hash rates. It is alleged that the company also falsified documents which showed fake pricing. The representative of Bitmain in Russia, Julia Fetisova, suspects that the root of the problem is large resellers who are buying huge batches of ASIC miners from Bitmain at discounted prices, evading any import taxes, and then reselling the miners in Russia with quick delivery and no import fees. Unfortunately, it is more profitable for illicit companies to work in this way rather than wait until their delivery passes through customs. As such, these schemes are becoming more common. Conclusion The cryptocurrency boom and the growing popularity of mining have led customs officials in Russia to decide that all mining equipment needs to be controlled. This is in line with the requirements of the Eurasian Economic Union regarding the import and export of goods with encryption and cryptography functions. However, Bitcoin miner import schemes are now present in Russia as unscrupulous companies and individuals aim to evade customs taxation. With the FCS now aware and clamping down on such schemes though, it remains to be seen whether customs officials can fully eradicate the issue. Read more about Bitcoin mining with Coin Rivet here . The post Is there a Bitcoin miner import scheme happening in Russia? appeared first on Coin Rivet . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/09/19: Bitcoin Cash ABC slid by 3.56% on Sunday. Reversing a 2.64% gain from Saturday, Bitcoin Cash ABC ended the week down by 28.45% at $218.44.
A particularly bearish start to the day saw Bitcoin Cash ABC slide from an early intraday high $226.5 to an early afternoon intraday low $212.39.
Falling short of the major resistance levels, Bitcoin Cash ABC slid through the first major support level at $220.08.
The second major support level at $213.39 limited the downside and deliver support in the afternoon.
Through the 2ndhalf of the day, Bitcoin Cash ABC managed to recover to $220 levels before easing back in the final hour.
At the time of writing, Bitcoin Cash ABC was down by 0.38% to $217.61. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $217.8 to a low $216.7.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $219 levels would support a run at the first major resistance level at $225.83.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from $218.5 levels.
Barring a broad-based crypto rally, Bitcoin Cash ABC would likely fall short of Sunday’s high $226.5.
Failure to move through to $219 levels would see Bitcoin Cash ABC spend another day in the red. A fall through the morning low to $215 levels would bring the first major support level at $211.72 into play.
Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$210 support levels on the day.
Litecoin fell by 2.92% on Saturday. Following on from a 0.93% decline on Friday, Litecoin ended the week down by 25.38% at $53.91.
Tracking the broader market through the morning, Litecoin slid from an early morning intraday high $55.66 to a mid-afternoon intraday low $52.18.
Falling short of the major resistance levels, Litecoin fell through the first major support level at $53.47 and second major support level at $52.66
Through the 2ndhalf of the day, Litecoin broke back through the major support levels to a high $54.98 before easing back.
The late pullback saw Litecoin fall back through the first major support level at $54.10.
At the time of writing, Litecoin was down by 0.06% to $53.88. A mixed start to the day saw Litecoin fall from an early morning high $54.24 to a low $53.56.
Litecoin left the major support and resistance levels untested early.
For the day ahead, a move back through to $54 levels would bring the first major resistance level at $55.65 into play.
Sentiment across the broader market would need to improve, however, for Litecoin to break through to $55 levels.
Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $55.66 would likely limit any upside.
Failure to move through to $54 levels would see Litecoin spend a 3rdconsecutive day in the red.
A fall through to $53.20 levels would bring the first major support level at $52.17 into play before any recovery.
Barring an extended sell-off through the day, Litecoin should steer clear of sub-$51 support levels.
Ripple’s XRP fell by 0.81% on Sunday. Following a 0.03% decline on Saturday, Ripple’s XRP ended the week down 13% at $0.24114.
Also bearish through the morning, Ripple’s XRP slid from an early morning intraday high $0.24336 to a mid-afternoon intraday low $0.23480.
Falling short of the major resistance levels, Ripple’s XRP slid through the first major support level at $0.2393.
Finding support at the second major support level at $0.2356, Ripple’s XRP broke back through the first major support level to $0.2430 levels.
A late pullback left Ripple’s XRP in the red on the day.
At the time of writing, Ripple’s XRP was down by 0.49% to $0.23996. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24145 to a low $0.23828.
Steering clear of the major resistance levels, Ripple’s XRP came within range of the first major support level at $0.2361.
For the day ahead, a move back through to $0.24 levels would support a run at the first major resistance level at $0.2449.
Ripple’s XRP would need the support of the broader market, however, to break out from Sunday’s high $0.24354.
Barring a crypto rally later in the day, Ripple’s XRP would likely fall short of $0.25 levels for a 4thconsecutive day.
Failure to move back through to $0.24 levels could see Ripple’s XRP test the first major support level at $0.2361 before any recovery.
Barring a crypto meltdown, Ripple’s XRP should steer clear of the second major support level at $0.2311.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
• The Crypto Daily – Movers and Shakers -30/09/19
• Crude Oil Price Update -Testing Retracement Zone; Weakens Under $55.60, Strengthens Over $57.19
• AUD/USD and NZD/USD Fundamental Daily Forecast – Weak Business Confidence Report Sinks Kiwi
• AUD/USD Forex Technical Analysis – Weakens Under .6760, Strengthens Over .6786
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/09/19
• AUD/USD and NZD/USD Fundamental Weekly Forecast – RBA Could Cut Benchmark Rate from 1.00% to 0.75%. || Mairs and Power Growth Fund 2nd-Quarter Shareholder Letter: Second Quarter Market Overview - June 30, 2019
As it entered its eleventh year, the longest bull market in history found its attention drawn overseas. Worries over economic growth and trade have increased investors' nervousness and added a dose of volatility. Tariff hikes and deteriorating global trade relations have turned a "trade tiff" into a troubling source of uncertainty for companies with international exposure. In addition, there was a notable deceleration in global economic growth from the first to the second quarter.
• Warning! GuruFocus has detected 3 Warning Signs with NVDA. Click here to check it out.
• NVDA 30-Year Financial Data
• The intrinsic value of NVDA
• Peter Lynch Chart of NVDA
The S&P 500 Total Return (TR) Index rose 4.30% for the second quarter and 18.54% year-to-date. This despite a 6.35% decline in May. Talk about volatility! The Dow Jones Industrial Average TR Index was up 3.21% and 15.40% and the Bloomberg Barclays U.S. Government/Credit Bond Index returned 3.53% and 6.90% for the second quarter and first six months respectively.
Unlike last year when the Information Technology (IT) sector pulled the rest of the market along, all sectors have posted gains year-to-date. The Health Care and the Energy sectors have been the weakest so far, with Energy stocks losing ground in the second quarter.
Future Outlook
After solid gains in the first half, we expect a choppy second half, therefore our outlook for 2019 remains cautious.
On the positive side, mortgage rates have recently fallen below 4% from more than 5% plus last fall, causing housing starts to rebound a bit off two-year lows. Lenders are responding to expectations that the Federal Reserve (FED) will cut the Federal Funds Rate by 25 to 75 basis points, which could bring it back around 2% by the end of 2019. Citing increased economic uncertainty and muted inflation following the FED's June meeting, Board Chairman Powell suggested that interest rate cuts will be used, if necessary, to sustain the current economic expansion. After having seen nine interest rate hikes since 2015, the market now expects that FED easing will keep the current bull market going.
On the "worry" side of the ledger, economic indicators continued to soften in the quarter. The ISM (Institute of Supply Management) Manufacturing Index, which manufacturing output nationwide, is approaching a neutral 50%, indicating little, any, growth in the manufacturing economy. In addition, the New York Empire State Manufacturing Index, a widely watched index for insights on the state and direction manufacturing in the key New York State region, recorded its largest decline ever single month, plunging 26 points to -8.6, the first negative reading in more than Capital spending started to fall in the second quarter as companies delayed in new capacity, concerned about uncertainty in the trade arena. Cautiousness has affected the outlook for corporate earnings, where growth estimates continue to particularly among large multinationals exposed to international markets. The most outlook pegs corporate earnings growth at 3% for the full year 2019, down from estimates of 5%-7% and off substantially from the tax cut-driven 23% growth 2018. Hiring may be affected as well. The economy added only 75,000 jobs in below expectations, before bouncing back in June, with 224,000 new jobs. Adding investor concerns, the tax cut-fueled budget deficit is ballooning and the Congressional Budget Office (CBO) is now projecting it to reach $896 billion for 2019, on a pace $1 trillion in the next year or two.
Some market forecasters believe the trade tensions are making a deteriorating economy even worse, potentially tipping us into a global recession. Others observe that the world's major economies were already cooling before the trade battles Whatever the causes, we are seeing real impacts in the global economy. Imports China from the U.S., Japan and Korea fell in May, with the largest drop of 27% in from the U.S. Europe economic growth is slowing as well amid uncertainty regarding Britain's exiting the European Union.
Valuations, while down from recent highs, remain toward the high end of their trading range and above the ten-year average, meaning the market remains slightly expensive. However, given low interest rates, we view valuations as reasonable at time. Small Cap stocks, which usually trade at a premium to large caps, are currently 5% discount, presenting opportunities for Small Cap investors.
While the equity markets are sending mixed signals, the bond markets are flashing warning lights. The inverted Treasury yield curve, where short term rates are higher long term rates, has persisted for more than 90 days. An inverted yield curve is associated with economic slowdowns or even recessions.
The Mairs & Power Growth Fund gained 2.74% in the second quarter and 16.17% for the first six months of 2019. The S&P 500 Total Return (TR) benchmark gained 4.30% and 18.54% over the same periods while the Lipper Multi Cap Core Funds Index of peers gained 3.62% and 18.16%.
The single largest factor contributing to relative underperformance for both the second quarter and first half of the year was the decline in 3M (NYSE:MMM) stock, one of the largest holdings in the Fund. The global industrial company's shares are off more than 20% from their 52- week high. Management cited weakness in the automotive sector, consumer electronics and the Chinese market. Investor concerns over rising environmental liability and the price paid for a recent acquisition put additional selling pressure on the stock through the second quarter. 3M's seasoned management team has a track record of successfully navigating business challenges such as these and remains a core position in the Fund.
Ecolab (NYSE:ECL) is another long-term holding of the fund and one of its largest positions as well. After a stellar 2018, the stock has continued to climb higher this year, up more than 30% in the first six months. In our opinion, Ecolab has one of the strongest durable competitive advantages in our stock universe, and we remain impressed with the management team. Earlier this year, management announced that the company would spin off its upstream energy business, a highly cyclical business dependent largely upon the price of oil, and the market welcomed the news. That said, valuation has become stretched, and we have been trimming back our position.
We remain positive on the Health Care sector long term although the sector stumbled in the second quarter, partly in reaction to news that some presidential candidates are calling for expansion of Medicare. This hurt most, but not all, names in the sector. UnitedHealth Group (NYSE:UNH), the largest private health insurance provider, was particularly hard hit, presenting an opportunity to add to our position. Two other names in the sector deserve mention as well. BioTechne Corp (NASDAQ:TECH), a company we have discussed in the past, has been the top contributor to performance year-to-date. A new name in the sector, Elanco Animal Health (NYSE:ELAN), recently appeared in the Fund as the result of its spin-off from Eli Lilly and Co (NYSE:LLY). It holds a strong market position with a diverse product portfolio across both production animals (cattle, pigs, etc.) and pets, giving the company an attractive durable competitive advantage. In addition, the animal health and veterinary medicine market enjoys greater pricing power and less competition than in the pharmaceutical market for humans. With the spin-off, management has the opportunity to improve margins as a smaller standalone company. As a result, we expect strong earnings growth. We also expect to add to our Elanco position over time.
NVIDIA Corporation (NASDAQ:NVDA) is another interesting new name we added in the second quarter after watching the California tech company for some time. They are the market leader in video cards (graphic processor units in industry jargon) for home PCs and their products are also used in technical computing environments for machine learning and artificial intelligence applications such as autonomous vehicles and in the mining of crypto currencies. The company has established a durable competitive advantage with a strong market position built on solid technology and we like the opportunity longer term. The stock ran up a year and a half ago when glowing headlines about Bitcoin and other emerging crypto currencies generated investor excitement. When the bubble burst this year, NVIDIA's price was cut in half, giving us our opportunity to take a position.
We sold much of our position in Wisconsin-based Bemis Company (BMS), a long-standing portfolio holding, when Australian competitor, Amcor PLC (AMCR), announced it was acquiring the consumer packaging company. Supercomputer maker Cray Inc. (CRAY) was eliminated from the portfolio as it is being acquired by Hewlett Packard Enterprise Co (HPE). We also eliminated Snap-on Inc (SNA) in the quarter, finding more attractive opportunities elsewhere.
Andrew R. Adams
Lead Manager
Mark L. Henneman
Co-Manager
Peter J. Johnson
Co-Manager
This commentary includes forward-looking statements such as economic predictions and portfolio manager opinions. The statements are subject to change at any time based on market and other conditions. No pre-dictions, forecasts, outlooks, expectations or beliefs are guaranteed.
This article first appeared onGuruFocus.
• Warning! GuruFocus has detected 3 Warning Signs with NVDA. Click here to check it out.
• NVDA 30-Year Financial Data
• The intrinsic value of NVDA
• Peter Lynch Chart of NVDA || Bitcoin price picks up, gains nearly $300 today: After briefly touching below $10,000 on September 11, Bitcoin appears to be again gathering momentum, adding nearly $300 to its value in the last day. Bitcoin currently sits at $10,340 after clawing back some last week's losses. Most other top 10 cryptocurrencies are also experiencing slight gains, though Bitcoin is currently leading the charge after gaining 2.7% in the last 24 hours. Over the last month Bitcoin has broken up towards $11,000 several times, only to fall back down to the $10,000 mark. Its trading volume has remained roughly constant in the last month, with around $15 to $20 billion in Bitcoin changing hands every day. Although Bitcoin is clearly having difficulties gaining value, the same cannot be said for its hash rate. Since the beginning of the year, the Bitcoin network has seen its hashrate go sky-high , climbing from 41 EH/s up to its current value of 98 EH/s. This means that the network is more secure against possible attacks. The rising hashrate could also bring Bitcoin's halvingwhere the new supply of coins gets cut in halfeven closer . It's currently set to occur in May, 2020 but some in the community reckon it could happen sooner. And mining giant Bitmain is doing everything it can to keep the number of miners going up. Its new Antminer s17 mining unit sold out within minutes . Miners must see clear skies ahead. || Brexit Update Boris Johnsons Wake-up Call: The Latest On Tuesday, MPs took over the control of agenda and ultimately Parliament. As a result, Wednesday became a pivotal moment in British politics and Johnsons renewed involvement in the Brexit process. Despite threats laid out to Tory Party rebels, a reported 21 Tory Party MPs voted against the government. The victory allowed MPs to introduce legislation to block a no-deal Brexit should the British PM fail to have an agreed plan in place with the EU. For the newly-appointed British Prime Minister, things went from bad to worse on the day. The government also failed to garner the necessary number of votes to force a general election on 15 th October. As per the rules under the Fixed Term Parliaments Act, Johnson needed two-thirds of MPs to support his motion. Of the 434 votes needed, the government received just 298 votes. The result was in stark contrast to the Bill to prevent Britain from leaving the EU without a deal, which was on its way to the House of Lords. For the Pro-Remainers, getting the Bill through the House of Lords ahead of next weeks suspension of Parliament is critical. Unsurprisingly, the Brexiteers included a slew of amendments in an attempt to slow down the Bills passage. The Court of Session Following hearings on Tuesday, the Court of Session ruled against the Pro-Remainers on Wednesday. As a result of the ruling, an appeal is scheduled to be heard later today in a further bid to prevent Johnson from suspending Parliament. Should the appeal fail to prevent a shutdown of Parliament next week, it is in the hands of the House of Lords to pass through the latest Bill in time
Vote of no-Confidence Boris Johnsons attempts at delivering a snap general election just 2-weeks ahead of Brexit failed on Wednesday. The Opposition Party had been clear on the need for the Bill to prevent a no-deal Brexit to pass before being willing to support a motion for a general election. With Johnson falling well short of the required vote, the only hope for Johnson is for the House of Lords to send back the bill with amendments and for suspension of Parliament to kick in before the Bill is approved. Story continues Should the Bill be approved in time, the chances of a no-deal departure are removed. It will then be interesting to see whether the British PM calls for a snap general election or if there is a vote of no confidence
The Pound While the Pound found strong support on Wednesday, rallying by 1.42%, it has some way to go before its out of the danger zone. While abated, risks of a no-deal Brexit continue to linger. An appeals decision in favor of the Pro-Remainers would certainly give the Pound another much-needed boost. Blocking a suspension of Parliament would give the House of Lords and Parliament sufficient time to pass through the Bill. Removing the ability to crash out of the EU without a deal extends Brexit until next year. The Bill does leave the British government in a position, however, where they may not be able to deliver. With the EU unwilling to renegotiate and Parliament divided, a new deal could prove hard to come by. That could leave Britain in a permanent state of flux. What would happen should EU member states decline a request for an extension? That would be the end of any attempts at preventing a no-deal Brexit. While it seems far-fetched for the EU to refuse an extension, it only takes one member state
At the time of writing, the Pound was flat at $1.22516. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview Stocks Join Global Rally; The VIX Drops 12% Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 05/09/19 Ethereum & Moneros XMR Daily Tech Analysis 05/09/19 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Strengthens Over 26245, Weakens Under 26215 E-mini S&P 500 Index (ES) Futures Technical Analysis Key Level into Close is 2932.50 Silver Price Forecast Silver markets going parabolic || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 26/08/19: Bitcoin Cash ABC Makes a Move Bitcoin Cash ABC rose by just 0.01% on Sunday. Following a 2.18% fall from Saturday, Bitcoin Cash ABC ended the day at $305.11. A bullish morning saw Bitcoin Cash ABC rally to a midday intraday high $312 before hitting reverse. Falling short of the first major resistance level at $316.71, Bitcoin Cash ABC tumbled to a late intraday low $301.5. In spite of the reversal, Bitcoin Cash ABC steered clear of the first major support level at $298.77. Finding support late in the day, Bitcoin Cash ABC managed to reverse the days losses to end the week down by 4.13%. At the time of writing, Bitcoin Cash ABC was up by 2.98% to $314.202. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $306.17 to a high $316 before easing back. Steering clear of the major support levels, Bitcoin Cash ABC broke through the first major resistance level at $310.91. For the day ahead, holding above the first major resistance level would support another run at the second major resistance level at $316.7. Bitcoin Cash ABC would need the support of the broader market, however, to avoid a pullback to sub-$310 levels. In the event of a continued broad-based rally, $320 levels would likely come into play before any pullback. Failure to hold above the first major resistance level would bring the first major support level at $300.41 into play. Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of sub-$300 support levels. Litecoin Targets $76 Litecoin fell by 1.74% on Sunday. Following on from a 2.76% decline from Saturday, Litecoin ended the day at $72.15. A relatively bullish start to the day saw Litecoin rise to a late morning intraday high $74.88 before succumbing to market forces. Falling short of the first major resistance level at $75.4, Litecoin slid to a late intraday low $70.66. The reversal saw Litecoin fall through the first major support level at $71.46 to come within range of the 62% FIB of $70. Story continues Finding support late in the day, Litecoin managed to move back through to $72 levels to limit the downside for the week A 4 th day in the red out of 7 left Litecoin down by 5.43% for the week. At the time of writing, Litecoin was up by 3.24% to $74.49. Tracking the broader market, Litecoin rallied from a morning low $72.13 to a high $75.55 before easing back. Steering clear of the major support levels, Litecoin broke through the first major resistance level at $74.47. For the day ahead, a move back through to $75 levels would bring the second major resistance level at $76.78 into play. Litecoin would need the continued support of the broader market, however, to break out from the morning high $75.55. In the event of an extended crypto rally, the second major resistance level would likely cap any upside on the day. Failure to move back through to $75 levels could see Litecoin hit reverse. A fall back through to $72.5 levels would bring the first major support level at $70.25 into play. Barring a crypto meltdown, the first major support level and 62% FIB of $70 should limit any downside. Ripples XRP Hits $0.28 Ripples XRP slipped by 0.87% on Sunday. Following on from a 1.96% fall from Saturday, Ripples XRP ended the day at $0.26968. Tracking the broader market, Ripples XRP rose to a midday intraday high $0.27683 before hitting reverse. Falling short of the first major resistance level at $0.2789, Ripples XRP tumbled to a late intraday low $0.26585. In spite of the reversal, Ripples XRP steered clear of the first major support level at $0.2646. A 5 th day in the red out of 7 left Ripples XRP down by 5.08% for the week. At the time of writing, Ripples XRP was up by 2.22% to $0.27568. A bullish start to the day saw Ripples XRP rally from a morning low $0.26927 to a high $0.28066 before easing back. Steering clear of the major support levels, Ripples XRP broke through the first major resistance level at $0.2757. For the day ahead, a move back through the first major resistance level at $0.2757 would bring $0.28 levels back into play. Ripples XRP would need the support of the broader market, however, to break through the second major resistance level at $0.2818. In the event of an extended crypto rally, the second major resistance level would likely leave $0.29 levels out of reach. Failure to move back through the first major resistance level could see Ripples XRP hit reverse. A fall through to sub-$0.2710 levels would bring the first major support level at $0.2647 into play. Barring a crypto meltdown, Ripples XRP should steer well clear of sub-$0.26 support levels on the day. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 26/08/19 USD/JPY Fundamental Weekly Forecast Traders Will Be Watching for Chinas Response to New U.S. Tariffs NZD/USD Forex Technical Analysis Strengthens Over .6411, Weakens Under .6362 USD/JPY Forex Technical Analysis Vulnerable to Steep Drop Under 104.600 Bitcoin as the New Safe Haven AUD/USD and NZD/USD Fundamental Weekly Forecast Will Be Pressured if China Retaliates on New U.S. Tariffs || XRP Climbs Above 9.35560 Level, Up 97%: XRP Climbs Above 9.35560 Level, Up 97% Investing.com - XRP rose above the $9.35560 threshold on Friday. XRP was trading at 9.35560 by 02:20 (06:20 GMT) on the Investing.com Index, up 97.17% on the day. It was the largest one-day percentage gain since August 23. The move upwards pushed XRP's market cap up to $11.61358B, or 4.32% of the total cryptocurrency market cap. At its highest, XRP's market cap was $79.53400B. XRP had traded in a range of $0.26774 to $9.36570 in the previous twenty-four hours. Over the past seven days, XRP has seen a rise in value, as it gained 3.55%. The volume of XRP traded in the twenty-four hours to time of writing was $1.02776B or 1.89% of the total volume of all cryptocurrencies. It has traded in a range of $0.2581 to $9.3657 in the past 7 days. At its current price, XRP is still down 0.11% from its all-time high of $9.37 set on August 23. Elsewhere in cryptocurrency trading Bitcoin was last at $10,106.4 on the Investing.com Index, up 1.28% on the day. Ethereum was trading at $189.72 on the Investing.com Index, a gain of 2.11%. Bitcoin's market cap was last at $181.50092B or 67.55% of the total cryptocurrency market cap, while Ethereum's market cap totaled $20.54830B or 7.65% of the total cryptocurrency market value. Related Articles Stellar Climbs Above 15.84462 Level, Up 100% Stellar Soars 100% In Rally Litecoin Tumbles 21% In Bearish Trade
[Random Sample of Social Media Buzz (last 60 days)]
Investigadores: la caída del precio de bitcoin no fue causada por el venta del esquema Ponzi de BTC de USD 3 mil millones https://t.co/MlGkrEqIMi https://t.co/5Zj0BQ1Esh || Cryptocurrency that is well managed in the digital financial sector. #StableDex #Blockchain #Ethereum #Bitcoin #IEO #Tokensale #cryptocurrency || Could Britain’s Brexit Boost Bitcoin to New All-Time Highs? btc_coinblu
A number of fundamentals have been driving Bitcoin in recent weeks, such as the escalating US China trade war and the UK’s exit from the EU. @… https://t.co/f0jrg7LzX0 || 30 day BVIX: 77.5016
BTC/USD vwap: $10,400.05
09/27 expiry volume: $5,695,919.04
10/25 expiry volume: $1,618,374.92
Current time: 13:59:20 || XRP
#プレゼント #貰える #企画 #プレゼント #プレゼント #エアドロップ #airdrop #イーサリアム #BTC #仮想通貨 || Malta: Bitcoin miner wins (sort of) on frivolous complaint versus hardware seller https://t.co/HNCDKO5wyc || $BTC & $ETH Long bids filled.
Hidden bull div on 1h https://t.co/WbfUN3Li12 || 取引所 BitMEX【買or売量】 🔴売り取引が1分間で 1007.2 BTC を超えました || Tomorrow we do it again $SPY
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✅ https://t.co/Ws6GKTL7Tm https://t.co/8F00aT6xca || ⚡⚡⚡⚡1hr Volume Alert!⚡⚡⚡⚡ $POWR current volume: 28.72 $BTC average: 2.1 $BTC which is 1268.99% above average, Price: 0.00000516 (-2.71%)
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Trend: up || Prices: 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
German Crypto Exchange Nuri Files for Insolvency: Cryptocurrency exchange Nuri GmbH has filed for insolvency in Berlin, according to acourt filing.
• The platform, previously called Bitwala, was founded in 2015.
• Nuri said the sell-off in the crypto market coupled with thecollapse of Celsius Networkultimately led to the decision.
• The price of bitcoin (BTC) has fallen from $69,000 to as low as $17,000 over the past nine months, with several key companies in the industry struggling to keep afloat. Bitcoin was recently trading around $23,000.
• Singapore-based hedge fund Three Arrows Capitalfiled for bankruptcyin July while Celsius and Voyager Digital experienced similar outcomes.
• Nuri has said its users can still access deposits, Reuters reported. || Sports teams with their own crypto: Google Images Creative Commons Licences Bitcoin remains the biggest name in the cryptocurrency market, with millions of users worldwide. The leader of the digital currency revolution is used on a daily basis by investors seeking to cash in on the industry’s popularity but also by consumers who use tokens to make purchases online and in person, including food, goods and subscriptions. You can even use tokens to make predictions at the best sportsbooks. As crypto’s influence continues to grow, more new users are signing up and showing an interest. You will often find professional sports at the cutting edge of change, and we’ve seen some huge sporting institutions launch their own esports teams, modernise the way supporters buy and present their tickets and use the latest technologies in their replica kits which are sold in the thousands worldwide. Now it seems that crypto is the new love affair of the biggest names and brands in sport. Tokens that help the team Over the last 18 months to two years, we have watched with interest as sports teams from major competitions like the English Premier League, National Football League and National Basketball Association get involved. They have launched crypto tokens to profit from the rise in popularity of crypto, allowing supporters and investors to purchase tokens, ramp up their value, or use the official club crypto to make purchases of merchandise, matchday tickets and stadium tours. The leading players in this sector even offer investors benefits that are tied to the team. For example, if you were to purchase the crypto tokens of your beloved sports team or transfer from Bitcoin and other market leaders, you would earn bonuses and special offers. For example, suppose your local NBA team ran their own crypto and you were invested in these tokens. In that case, you’d qualify for deals on merchandise, enjoy discounts on tickets and even, as an investor, have a say in the burning issues concerning your team. Story continues Which major sports teams currently boast their own crypto tokens, how have they been performing, and what must you do to get involved? This article aims to explain it all. Our crypto content writers list three instantly recognisable sports teams with crypto tokens and accepting investment from fans worldwide. Google Images Creative Commons Licences Real Madrid Spanish and European football’s most successful club, Real Madrid, trades in multi-million dollar deals for players, coaches, cooperation and advertising. They are a club steeped in history but are also a modern team with their finger on the pulse of crypto. Handlers working behind the scenes at Blancos in Madrid have entered into a Blockchain with German club Bayern Munich and a selection of other names. This ensures that the latest online security measures protect the tokens and investments of fans. It’s a great way for fans to support their team. Still, you don’t have to be a lover of Real Madrid to appreciate the investment opportunity in a token that could progress to become almost as famous and well supported as the club it represents. Juventus Juve is the most successful club in Italian football, but, interestingly, they failed to win the Serie A title in each of the last two seasons, beaten to the post by their rivals from Milan. Investment in the playing staff is required to get The Old Lady back on her feet and win trophies again domestically and on the continent. That’s where the planned Juventus cryptocurrency comes into play. Fans can purchase tokens and use them to buy matchday tickets or shirts, all the time increasing the value of the crypto. This will translate into more club funds which can be used to ensure success on the field of play. Arsenal Crypto is extremely popular in the city of London, and it’s no shock to see a big-spending and financially stable team from the UK capital jump into the world of crypto. Arsenal’s tokens are amongst the best performing from any sports club, and the numbers continue to look healthy. Traders and sports fans from across England and overseas have already noticed the potential to invest in the club and its crypto, but it’s not too late to get involved. || Thursday morning UK news briefing: Advantage Liz Truss in the race to be prime minister: Morning UK news briefing: Today's top headlines from The Telegraph Liz Truss is the front-runner to be the next prime minister , after Tory MPs voted her into the final two of the leadership contest alongside Rishi Sunak. The Foreign Secretary picked up more new votes than any rival on Wednesday, as she leapfrogged Penny Mordaunt, the trade minister, who was knocked out of the contest. Mr Sunak, the former chancellor, has now softened his critique of Ms Truss, writing in the Telegraph that he respects his opponent and that tax cuts ultimately are needed for growth - also describing himself as the heir to Margaret Thatcher. Ms Truss launched an attack on Mr Sunak's record, saying the Government has been "going in the wrong direction on tax". The Conservative Party will hold 12 in-person hustings in every part of the UK to allow its 200,000 members to grill the candidates for themselves. Yet in a blow to Mr Sunak's campaign, members may have already voted by the time he gets to speak to them. Even if Ms Truss gets the keys to Downing Street, Camilla Tominey analyses why the victory could be short-lived . Liz Truss is applauded by her campaign team in Westminster after picking up enough votes to make the final two of the Tory leadership contest - Frank Augstein/AP Ms Mordaunt's allies have suggested she narrowly failed to make the final two because of a "vicious personal smear campaign" against her. On Wednesday, Simon Case, the Cabinet Secretary, launched an inquiry into leaks apparently designed to damage Ms Mordaunt's campaign. So what are we to make of the final two candidates? Ruth Davidson , the former leader of the Scottish Tories, warns this is no time to gamble , which is why she is backing Mr Sunak. Matt Ridley argues that Liz Truss is the unconventional Tory radical Britain needs . The Telegraph View is that we face a clash of visions for the country's future . Here is a timetable for what happens now and see how the odds on the winner have changed . White House corrects suggestion Biden has cancer Joe Biden mistakenly referred to Glasgow as part of England and appeared to suggest he currently has cancer , forcing a swift White House clarification, in the US president's latest public gaffe. Mr Biden caused immediate confusion as he appeared to say "Thats why I, and so damn many other people I grew up with, have cancer" during a speech on climate change on Wednesday. While Mr Biden used the present tense, White House officials said the president was referring to his past treatment for skin cancer. However, Mr Biden's comments were widely mocked by Republicans who have seized on each of the 79-year-old's regular verbal missteps as evidence of his ailing mental acuity. This video analyses how the President's gaffes are hurting his image. Story continues Harry and Meghan's public display of affection at UN For followers of the Duke and Duchess of Sussex, seeing the pair hand in hand is nothing new. Since they were first pictured together back in 2016, Harry and Meghan have been glued together at the hand, arm, upper body, cheek and even foot, whenever they are out in public. Head to head, elbow to elbow, it seems there is not a body part that has remained uninhibitedly bumped. It is still going strong now, four years into their marriage, the point when most of us are wearing pyjamas and arguing about how to stack the dishwasher. Footage from the UN in New York this week , taken just after Harry had delivered his Nelson Mandela Day speech, showed them doing the same. Lucy Foster analyses the hidden meaning behind Harry and Meghans public display of affection . Daily dose of Matt The fires that raged across Britain during the record heatwave inspired Matt's latest cartoon . For a weekly behind-the-scenes look at his work, sign up for his newsletter . Here is Blower's newest cartoon on the Tory race. Also in the news: Today's other headlines Russia's ambitions | Ukrainian president Volodymyr Zelensky has said harsher sanctions must be imposed on Russia if there is any chance of reaching peace. Speaking in his nightly video address, Mr Zelensky said the EU's seventh sanctions package it did not go far enough. Europeans have been urged by Brussels to switch off the lights and turn down their air-conditioning this summer amid mounting fears of a "likely" cut-off of Russian gas supplies to the continent. It came as Sergei Lavrov, the Kremlin's foreign minister, announced fresh plans to seize more of Ukraine , beyond the eastern Donbas region, in an expanded war effort. Immigration reforms | US-style criminal checks for travellers to UK 'Saddest words' | Pensioner 'was honouring suicide pact with wife' Child sex slaves stories | Taliban makes detained reporter apologise Menopause | HRT to be offered over the counter for first time Next stop net zero | The trains that suck carbon out of the air Around the world: Trumps gather for Ivanas funeral Ivana Trump, the 1980s style icon and ex-wife of Donald Trump, was remembered as a "trailblazer" by the former president's children at her funeral in Manhattan on Wednesday. The Trump family were joined by roughly 100 mourners at the private service at St Vincent Ferrer Roman Catholic Church on the city's Upper East Side. Mr Trump had three children - Don Jr, Eric and Ivanka - with his first wife, who died aged 73 after a fall down stairs at her New York City home on July 15. Former First Daughter Ivanka Trump gave an emotional speech . The Trump family at Ivanas funeral - Jason Szenes/EPA-EFE/Shutterstock Comment and analysis Con Coughlin | Vladimir Putin has the flailing West over a barrel Peter Cruddas | It's not too late to keep Boris Johnson Michael Deacon | Labour has a woman problem - and now a race one Henry Blofeld | What are we good for if we can't make cricket balls? Reader letters | Conservative MPs have missed an opportunity Today's PlusWord and yesterday's solution Try today's PlusWord , which our deputy puzzles editor Michael Baker solved in 1min 27sec. Can you beat him? Yesterday's solution: FRUIT. Sport briefing: Stanway stunner seals Euros comeback Spirited England fought back to propel themselves into the Euro 2022 semi-finals and into the hearts of a nation thanks to an extra-time rocket from Georgia Stanway as they survived an enormous scare to edge past Spain in Brighton. The hosts had been just six minutes from a calamitously early elimination before Ella Toone volleyed in an equaliser to send the game into an additional 30 minutes. Read our match report while Luke Edwards dissects the Stanway thunderbolt that powered the Lionesses into the Euro 2022 last four. In rugby union, the blueprint for a new 'Club World Cup' is understood to have been agreed with a tournament involving the top 16 sides from the northern and southern hemispheres scheduled to start in 2025, the Telegraph can reveal . Editor's choice Holiday like Logan Roy | How to stay in TV's most dramatic homes Anti-Semitic harassment | I tracked down my Corbynite troll and now hes in prison Bryony Gordon | I'll never regret taking Prozac whatever scientists are saying now Business briefing: Tesla profits hit by China shutdowns Tesla has fallen victim to supply chain chaos in China and a damaging bet on Bitcoin, bringing a record run of profits at Elon Musks car company to a sudden end . The electric vehicle maker also sold off a chunk of its Bitcoin holdings, the company said on Wednesday, as its bet on the cryptocurrency soured. Revenues at Tesla dropped by 9pc between the second and first quarter to $16.9bn (£14.1bn), though were still 42pc higher than a year earlier. Read how rivals in China have proved challenging and Mr Musks fears for the wider economy . In the UK, as prices rises surged to a fresh 40-year high , Ben Wright analyses how Britain's economy is uniquely exposed to the inflation tidal wave . Tonight's dinner Grilled harissa sardines | Whole sardines are inexpensive, quick and as delicious charred on the barbecue as from the pan. View Angela Hartnett 's recipe . Travel advice: Trail that put Austria on the map In winter, Saalbach-Hinterglemm is associated with skiing and Jagerbombs but summer belongs to trail runners, bikers and a "cool" hikers. Nick Redmayne has your guide to the Austrian destination . And finally... for this morning's downtime Bling it up | Bigger and bolder gold jewellery is making a comeback as the high street and fine jewellers channel the hip-hop vibe. Laura Craik reveals how to pile it on for the chunky maximalist look. If you want to receive twice-daily briefings like this by email, sign up to the Front Page newsletter here . For two-minute audio updates, try The Briefing - on podcasts, smart speakers and WhatsApp. || Want to Ride the Bitcoin Rally? Here Are 2 Bitcoin Mining Stocks That Analysts Like: The Federal Reserve raised rates this week, by another 0.75%, toughening up its anti-inflationary stance. At the same time, Fed chair Jerome Powell indicated that the central bank may slow its pace on rate hikes, which gives some hope for a ‘soft landing,’ that may curb inflation while avoiding a deep recession. Markets rallied strongly in response to the Fed news.
The rally has made its way to cryptos, too, which have been tracking US stocks closely this summer. In particular, the largest crypto, Bitcoin, is up 21% this month.
Nexo crypto wallet co-founder Antoni Trenchev sees these developments as net gains, and predicts further near-term rally in BTC in his comments on the Fed meeting: “The conclusion of Wednesday’s Fed meeting opens up a summer window for a Bitcoin relief rally, given we now have two months until policymakers next deliberate on monetary policy.”
So it’s an interesting time to look at bitcoin mining stocks, which are highly correlated to the price of BTC. Using theTipRanks database, we identified two such equities that have received bullish praise from the Street, enough to earn a “Strong Buy” consensus rating. Let's take a closer look.
CleanSpark(CLSK)
The first bitcoin miner we’ll look at it CleanSpark, a company with double-barreled focus – one barrel targeting bitcoin mining and the other aimed at clean energy. CleanSpark produces software products that allow close control of distributed energy systems, microgrids, and other off-the-grid power systems based on ‘green’ energy such as solar, wind, or nuclear. In CleanSpark’s particular case, it uses this technology to power its bitcoin mining operations.
Those bitcoin mining ops are substantial. CleanSpark currently operates four mining facilities, in Texas, Georgia, and New York, and this month announced an expansion of mining capacity totaling 90 petahashes. This expansion was powered by the acquisition of new, ‘latest generation’ mining servers, 1,061 Whatsminer M30S machines, installed a facilities co-operated with Coinmint. In addition, CleanSpark also announced, in June, acquisition of a purchase contract for 1,800 Antminer S19 XP machines, along with water cooling infrastructure, for its mining facilities. These machines, when installed, will add another 252 petahashes per second to CleanSpark’s mining capabilities.
As of the end of June, CleanSpark’s BTC production had totaled 1,863 for the year. June’s production was 339, and production hit a company record-high rate of 12.1 BTC per day. The hashrate increased 12% from May, to a total hashrate of 2.8 EH/s. CleanSpark held a total of 561 BTC as of June 30, after converting 328 to pay for June operations.
Production on this scale delivered revenue of $41.6 million in the quarter ended March 31, compared to just $8.1 million in the year-ago quarter.
Assuming coverage of CLSK for H.C. Wainwright, analystMike Colonneselikes what he sees in the company’s prospects for continued growth.
"With a strong track record of solid execution and 600 megawatts (MW) of mining infrastructure already secured (capable of supporting ~20 EH/s), we are confident in CLSK’s future growth and ability to continue to win market share. As a top five miner with 2.8 EH/s of active hashing power, CLSK produced 339 BTC in the month of June (over 11/day). By our calculation, this makes CLSK the most efficient bitcoin miner in the industry (with an active EH/s >1)," Colonnese opined.
“We believe the risk/reward profile for shares of CLSK is very favorable at current levels," the analyst summed up.
To this end, Colonnese rates CLSK shares a Buy, and his $6 price target implies a one-year potential gain of ~43% for the stock. (To watch Colonnese’s track record,click here)
Overall, this small-cap bitcoin miner holds a Strong Buy consensus rating from the Wall Street analysts, and that rating is unanimous, based on 3 recent positive analyst reviews. The stock is selling for $4.20 and its $11.00 average price target indicates possible gain of ~162% in the year ahead. (See CLSK stock forecast on TipRanks)
Argo Blockchain(ARBK)
Next up is Argo Blockchain, a crypto mining firm based in London with its operations in North America. Argo has three active crypto mining facilities, one, Helios, located in Dickens County, Texas, and two located in Quebec, at Baie Comeau and Mirabel. The Mirabel facility is the smallest and the Texan location the largest; altogether, Argo boasts some 45 megawatts of power generation supporting 2.2 EH/s of bitcoin mining and 280 MS of equihash ZCash mining.
Last month the company mined a total of 179 bitcoins, and increase of 44% over the May total of 124. The company sold off 637 bitcoin during the month to fund operations. Those operations included the ongoing expansion of the Helios crytpomining facility. Argo entered a contract for delivery and installation of 20,000 mining machines purchased from Bitmain; it is on track to complete this installation by October of this year. As of June 30, Argo held 1,953 bitcoin in its assets.
Despite its solid production, growing exahash rate, and expanding operational footprint, Argo’s share price has been declining since its IPO last fall. The stock started trading on September 23, and closed its first day on the NASDAQ at $16.75; the stock is down 71% since then.
5-star analystDarren Aftahi, of Roth Capital, has been covering Argo, and in his look at the company’s recent results he sees plenty of reason for longer-term optimism. Aftahi writes, “Helios began mining in early May and should provide a modest lift to 2Q mining capacity and a larger impact in 2H22 as ARBK looks to reach its 5.5 EH/s ending hash rate target... Overall, we remain encouraged that Helios should begin to enable ARBK to increase its network share back towards 1% by year-end and do so with little dilution risk to shareholders.”
Going on from these comments, Aftahi sets a Buy rating on ARBK shares – along with a $11 price target that indicates his confidence in a robust 142% upside for the next 12 months. (To watch Aftahi’s track record,click here)
Argo has piqued the curiosity and attention of 5 Wall Street analysts, who have combined to give the shares a unanimous Strong Buy consensus rating. ARBK is currently trading for $4.84 and has an average price target of $11.40; this gives the stock a one-year upside potential of 135%. (See ARBK stock forecast on TipRanks)
To find good ideas for crypto 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. || AMTD Digital and MEGL Stock: Are Meme Stocks Back?: This article is excerpted from Tom Yeung’s Profit & Protection newsletter dated Aug. 5, 2022. To make sure you don’t miss any of Tom’s picks, subscribe to his mailing list here . On Aug. 2, AMTD Digital (NYSE: HKD ) briefly touched $2,555 in a bewildering day of trading. With 185 million shares outstanding, the 50-person Hong Kong company would have theoretically been worth $470 billion — more than PepsiCo (NASDAQ: PEP ) and McDonald’s (NYSE: MCD ) combined. Parts of social media immediately lit up like a Christmas tree. InvestorPlace - Stock Market News, Stock Advice & Trading Tips “$AMTD reminding me again of the Past,” one online user reminisced on the stock discussion board Stocktwits. “$AMTD 🚀🚀🚀” wrote another. Shares of another Hong Kong firm, Magic Empire Global (NASDAQ: MEGL ) would quickly follow suit with a “mystifying” 2,325% gain. That’s having investors far and wide asking themselves: Are meme stocks back ? AMTD Stock: Are Meme Stocks Back? The meteoric rise of AMTD, HKD and MEGL has understandably sent media outlets drawing parallels to the GameStop (NYSE: GME ) stock mania of 2021. “AMTD is in some ways the perfect meme stock,” noted Brendan Ahern, chief investment officer at China-focused ETF provider KraneShares . “AMTD Digital had a very small float… [and] there was likely a short squeeze.” And CNBC would quickly crown AMTD as “The $300 billion meme stock that makes GameStop look like child’s play” while Bloomberg would highlight MEGL for its “dramatic price surge.” The comparisons are understandable. Much like GameStop, the Mega Millions lottery and my New Year’s resolutions to exercise more, these rocketing stocks offer the one thing people need: Hope. To the casual observer, it seems as if meme stock trading has returned. More Squid Token, Less GameStop Yet, look closer at these Hong Kong stocks, and several questions quickly emerge. 1. Sporadic Trading. Trading in AMTD and HKD stock has remained patchy at best. 1-share trades continued to dominate, even as prices reached a peak. A similar pattern is emerging in MEGL stock. Story continues Thomson Reuters data showing 1-share trades in HKD stock. Source: Chart Source Thomson Reuters These 1-share trades are a tell-tale sign of broken orders during a liquidity crunch. (Occasionally, these are also signs of algorithmic traders attempting to “discover” prices by triggering small trades). It’s just as likely that insiders are ham-handedly exchanging shares. 2. Low Social Media Attention. Social media chatter has remained firmly on Stocktwits, with few investors picking up the story on Reddit’s r/WallStreetBets, Twitter, or other sites with larger audiences. Without this critical mass, fast-moving stocks typically fizzle out within days. “ AMTD is not a meme ,” one post on WallStreetBets wrote in response to the CNBC article. “It’s a blatant Chinese scam, and WSB doesn’t have anything to do with it.” 3. Low Float. Finally, AMTD and MEGL’s low floats makes them more similar to over-the-counter (OTC) penny stocks, a world where absurdly large market caps can happen daily. The National Art Exchange (OTCMKTS: NAEX ) is a prime example of this phenomenon. The inactive OTC stock last traded at $20, according to data from Thomson Reuters. With 100 million shares outstanding, the firm is theoretically worth $2 billion — almost as large as high-growth startups C3.ai (NYSE: AI ) and Digital Turbine (NASDAQ: APPS ). Then there’s the case of Your Hometown Deli, a New Jersey sandwich shop that once traded at $113 million. “By deli standards, Your Hometown Deli in Paulsboro, N.J., is not a very successful one,” noted New York Magazine in 2021. Yet, “the deli’s parent company, Hometown International… is a publicly traded company valued at nearly $100 million.” AMTD’s share structure mirrors these thinly traded companies. Only 20 million of the ADR’s 185 million shares are available for trading, and even that figure could overstate the firm’s free float. And as for MEGL… 2 shareholders own 63% of the listed company. A chart showing the stock price movement for HKD. Source: Chart by InvestorPlace Source: Chart by InvestorPlace Readying for a Rebound Nevertheless, stock markets are beginning to see a return of animal spirits. Last week, shares of Getty Images (NYSE: GETY ) jumped 185% after launching a successful IPO. And meme favorites from tool maker ToughBuilt (NASDAQ: TBLT ) to bankrupt cosmetics maker Revlon (NYSE: REV ) have seen double-digit gains. $10,000 invested in these three companies last week would be worth $20,600 today. Main street investors have also seen a turnaround. Shares of Microsoft (NASDAQ: MSFT ), Amazon (NASDAQ: AMZN ) and other tech giants have rebounded on a better-than-expected earnings season. And the Merrill Lynch Option Volatility Estimate ( MOVE ) — a bellwether of credit market fear — has fallen almost 20% in the past month. These are signs that markets are now looking beyond Fed Chair Jerome Powell’s inflation concerns. In other words, AMTD’s rise only coincided with the stock market’s return… it didn’t cause it. That’s why I’m reiterating my long positions on three top “Moonshot” picks: Desktop Metal (NYSE: DM ). The Boston-based 3D printing firm is already up 60% from my takeover target price. But at $2.50, it’s still a one-sided bet on the future of American manufacturing. The firm is worth at least 3x higher than current levels. RealReal (NASDAQ: REAL ). The online marketplace for used luxury goods is up 15% in the past week. Given its high growth and low $2.70 share price, there are still many good reasons for investors to buy. Ginkgo Bioworks (NYSE: DNA ). The fast-growing startup is on the cutting edge of bioengineering. And with prices still at $3, investors have plenty of high-growth potential to come. These three firms represent the best of the Profit & Protection picks. Not only does each score an “A” or better in the Profit & Protection system. All three have significant downside protection while leaving room for 5x-10x gains. Consider Ginkgo Bioworks. The bioengineering startup trades at a fraction of its $10 SPAC price. Yet, the company has managed to exceed its $100 million sales projection while building out its intellectual property. At $3 per share, it’s a takeover target for any larger company that can afford it. Meanwhile, Luke Lango has also found a small company trading under $4 rumored to be helping Apple create its potential next trillion-dollar product . I’d ordinarily give you the name of this company… But I can’t say it here. So instead, I’d like you to click here to see Luke’s presentation on the company that could propel the Apple Car into existence . Meme Stocks Are Nothing New… And AMTD Proves It. Every so often, a new investment captures the imagination of the media circus. Tesla… AMC Entertainment (NYSE: AMC )… Crypto tokens… These investments can include everything from a) the great, to b) the utterly absurd, and everything in between. Squid Token ( SQUID-USD ) — a cryptocurrency token based on the popular Squid Game TV show — would eventually lose investors $3.3 million after a BBC article unintentionally popularized the scam token. Yet, these investment “pumps” have happened before. As reported by Barron’s , 18th-century England saw investors set up a company to produce radish oil . It had no known use. Another firm was organized “for carrying on an undertaking of great advantage, but nobody is to know what it is.” Fast forward to today, and investors can use these same stories to describe most SPACs and shelf corporations. Tracking sites count at least 635 SPACs with no pending deals. Like their predecessors, many of these opaque entities are built to enrich insiders. Show me someone who made a million dollars from AMTD, and I’ll show you a well-connected Chinese financier who likely bought in months ago. But some of these Moonshot companies do end up succeeding. Walmart (NYSE: WMT ) once traded over-the-counter before earning a listing on the New York Stock Exchange (NYSE). And companies like Desktop Metal with cutting-edge IP could well become tomorrow’s Honeywell International (NYSE: HON ) The trick is understanding the difference between a high-potential stock and one that’s riding a wave of overoptimism. Because once investors understand the context of AMTD’s unusual rise, the echoes of an Economist writer ring particularly true. “There is nothing new on Wall Street.” Tom Yeung is the editor of Profit & Protection, a free e-letter about investing to profit in good times and protecting gains during the bad. To join Profit & Protection — and claim a free copy of Tom’s latest report — go here to sign up for free! 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 AMTD Digital and MEGL Stock: Are Meme Stocks Back? appeared first on InvestorPlace . || US stocks sink as investors prepare for earnings season to kick off: • US stocks were lower to start the week after ending last week with a modest gain.
• Investors are bracing for earnings season, with several corporate giants on tap to report this week.
• Twitter sank following Elon Musk's decision to walk away from his deal to buy the company.
US stocks fell on Monday after notching a modest gain last week, with investors preparing to parse through a wave of corporate earnings.
Companies including PepsiCo and Delta Air Lines will report results from the second quarter on Tuesday and Wednesday, with banks including JPMorgan Chase, Citigroup, and Wells Fargo set to deliver results at the end of the week.
Investors are also waiting on key inflation data this week. The Consumer Price Index for June will be reported on Wednesday, and will be anxiously awaited by markets to see if inflation is cooling or if prices have notched another multi-decade high.
Stock moves last week were choppy, with Friday bringing a mixed bag of economic news as the Bureau of Labor Statistics showed the US added 372,000 jobs in June, well ahead of estimates. However, the strong data indicated that the Federal Reserve would be unlikely to waver in its committement to raising rates to tame a inflation, and minutes from the June meeting released last Wednesday showed that investors should expect another large rate hike this month.
Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:
• S&P 500: 3,877.27, down 0.57%
• Dow Jones Industrial Average: 31,273.96, down 0.20% (64.19 points)
• Nasdaq Composite:11,456.76, down 1.53%
Twitter shares sankon news late Friday that Elon Musk is walking away from his deal to buy the social media company. Meanwhile, shares of the SPAC set to take Donald Trump's Truth Social public soared in response.
Russia is shutting off a key natural gas pipeline to Germany today for scheduled maintenance.But there is growing fear though that Moscow could decide not to turn it back on again.
The dollar and the euro are the closest they've been to parity in 20 years.The dollar was less than one cent shyof reaching equal value to the eurozone currency on Monday morning.
"Shark Tank" star Kevin O'Leary said thathe expects a major event in crypto to shake out a lot of the bad actorsin the space. The famous investor said that such an event would be healthy for the market.
Oil prices were down as much as 3% Monday morning asfears of a recession in Europe mounted. WTI retraced some earlier losses to trade at $103 a barrel. Brent, oil's international benchmark, was about 1.5% lower to trade at $105.36.
Gold prices were slightly lower, trading at $1,735.50. The 10-year Treasury yield fell 8 basis points to 3.019%.
Bitcoin dropped 1.5% to $20,505.
Read the original article onBusiness Insider || Will Inflation Hurt Bitcoin? The Current Narratives About BTC (And How They Hold Up): Since Friday, Bitcoin ( BTC-USD ) has made a run at $22,000…rolled back down through $20,000…crashed to $19,000 – then snapped back towards $20,000. Ether ( ETH-USD ), Solana ( SOL-USD ), Cardano ( ADA-USD ), etc. all pretty much followed suit. A concept image showing Bitcoin (BTC) in a bubble. Source: Shutterstock So… What do we make of all this? As I’ve noted before , our Crypto Investor Network analysts conclude that “BTC is working through a bottoming process right now and that the worst of the sell-off is over for cryptos,” based on “recent price action trends, current valuation metrics, and the evolving tech stock rebound.” We also expect BTC to consolidate for the next few months before its next boom. How long, of course, depends on when people can feel confident the worst is past and tiptoe back into crypto markets (and stocks, for that matter). There’s still been good news for all sorts of crypto projects – but right now, bitcoin and friends just aren’t responding much. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There are a few narratives going around, as people try to make out what’s in the cards for crypto. Let’s see how helpful they are in deciding how to proceed as investors. Will Inflation Continue the Chaos for Bitcoin? “Inflation Reaches 40-Year High: How Will This Affect Bitcoin Prices?” asked Forbes yesterday morning. “Red-Hot Inflation Data Have Knocked Cryptos Lower,” answered Barron’s . It’s been on people’s minds for weeks; Cointelegraph warned us on Monday that “U.S. inflation data will be ‘messy’” for bitcoin when June’s consumer-price index report published Wednesday morning. Well, I’d guess that inflation isn’t going to magically go away here in July, either. Even if prices stop, well, inflating…they’re already so elevated that it’ll take time to work through all the effects on economies worldwide. But the impact of inflation on BTC depends on which group of investors is driving the bus: Ordinary people are going to personally feel the greatest pain each day; I can see them simply waiting things out until they’ve got the extra coins, so to speak, for crypto trades. Wall Street institutions, on the other hand, are more likely to have specific economic reports on their radar – and react sharply to each one. Story continues Well, here’s a clue from the blockchain analysts at Glassnode, in their Week On-Chain report : “Small Entities” in BTC “remain quite active relative to past bears” – BUT “the activity of large entities (likely institutions) has been dramatically higher than retail , both through the bull cycle and more recently during the capitulation events.” So, I think the mainstream-media narrative about inflation being “messy” for bitcoin holds up. With institutional investors having the biggest price impact, BTC and friends may see more knee-jerk reactions to economic reports, stock-market style. Crypto markets didn’t love the Federal Reserve’s response to inflation, either: interest-rate hikes. “And analysts anticipate an equal or greater hike later this month” than the +0.75% we saw in June, as Blockworks notes . Today, we got the Producer Price Index (PPI) for June, which also came in surprisingly high … But as I write, we’re not seeing a price impact. As Blockworks further explains: “The Fed’s preferred measure of inflation is the core personal consumption expenditures price index, the PCE, which will be released on July 29.” So, keep an eye out for another knee-jerk reaction to that report in two weeks. Hopefully it will be as short-lived as yesterday’s Consumer Price Index (CPI) response was. In the meantime, this is certainly another interesting narrative: Will the Saudis Swoop In to Save Bitcoin? This one is more of a Twitter meme… But sometimes, those aren’t so easily dismissed – just ask Elon Musk and Dogecoin ( DOGE-USD ). I’d argue his Twitter account is equally responsible for Tesla (NASDAQ: TSLA ) performance, too. Well, at any rate, we have some new data to put this one to the test. But it all started with Twitter rumors that “Saudi Arabian investors are ready to bid billions on the top cryptocurrency,” as Blockworks explains it : “Such a move would diversify the Kingdom’s reserves away from oil into ‘digital gold,’ securing its financial future in a world that hopes to one day shed its fossil fuel dependency – or so goes the theory.” The “Saudi meme” has spread on Twitter the past week or so: Anytime BTC prices do anything, people joke that the Saudis are bidding it up – or, wait, maybe they changed their mind! Well, the global exchange KuCoin ( KCS-USD ) jumped into the discourse to tell us what actual Saudi investors think: According to KuCoin’s “Into the Cryptoverse: Saudi Arabia 2022” report Wednesday: 14% of Saudis own crypto or have over the past six months. This is probably a little lower than in the United States … Although another 17% of Saudis said they were likely to invest in the next six months. Saudi crypto sentiment “saw a reversal” in Q2: 31% said they would simply hold their crypto, rather than “increase investment” (as 49% of respondents had planned to in Q1). So, it sounds like if Saudis were going to swoop in, buy a ton of bitcoin, and save the day, they probably already would have. Is “Wash Trading” on Binance Manipulating BTC? We looked at this on Monday , but let’s revisit the theory and how it’s holding up now: For the past month, Binance ( BNB-USD ) has been testing out zero trading fees with 13 cryptocurrency pairs for its U.S. customers; all of the pairs involve bitcoin. On Friday, July 8, Binance expanded this zero-fee bitcoin trading worldwide . Theoretically, this would create an incentive to buy a bunch of BTC just to sell it back (all for zero fees), simply to achieve enough volume to get Binance VIP privileges . So, how many people are “wash trading” bitcoin – and what’s the impact? The chart below shows the price and volume of BTC on Binance afterwards, through last night. Volume certainly spiked the morning of July 8… But the price didn’t move more than about 2% in either direction for a good 48 hours: And volume wasn’t nearly as high for BTC on Binance until Wednesday morning – when BTC fell sharply everywhere as inflation came in surprisingly high in the Consumer Price Index for June. The theory would be strong, except that Binance CEO Changpeng Zhao was extremely sensitive to it . Hours after Binance’s new policy went into effect Friday, the exchange announced : “To ensure a fair trading environment for all users following the launch of Zero-Fee Bitcoin Trading, Binance will exclude the trading volume of the 13 Bitcoin (BTC) spot trading pairs from” VIP level qualifications, plus the Spot Liquidity Provider program. Given the volume vs. price action we saw in my chart – I’d say macro news has a much bigger impact right now than anything at Binance. But There Is Some “Inside Baseball” Worth Looking At Blockchain journalist Ben Lilly charts large trades over time to determine their liquidation prices . And much of this liquidity doesn’t come into play until BTC gets back to $25,000 . That is, as long as it doesn’t go to $18,000, where another large liquidity pool sits. Lilly notes that “two significant pools were taken out to the upside” already on Friday, when BTC spiked to $22,000. “This is one of the first signs that price is beginning to behave a bit differently. And [it] suggests that a sweep to the $25k price area looks possible.” “The caveat here is that for price to threaten that level, no more skeletons can get exposed within the cryptocurrency market, otherwise more forced selling can be triggered,” Lilly continues. “But chances are declining as many entities now move to legal proceedings.” (And he wrote this even before Celsius Network ( CEL-USD ) finally ripped the band-aid off and filed for Chapter 11 bankruptcy yesterday.) In other words… This narrative remains to be proven out, either way. I, for one, am hopeful that we can simply move more or less sideways for a while, in the absence of major bearish catalysts. BTC will just need to stay strong for at least another couple months of sky-high prices that trigger Federal Reserve action. In the meantime, check out Charlie Shrem’s free briefing on how to find the best cryptos to make the most of the next bitcoin boom. If you sign on with Charlie and Luke Lango today, you’ll see which cryptos they’ve just deemed Strong Buys for their Crypto Investor Network. On the date of publication, Ashley Cassell 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 . To have more news from The New Digital World sent to your inbox, click here to sign up for the newsletter. The post Will Inflation Hurt Bitcoin? The Current Narratives About BTC (And How They Hold Up) appeared first on InvestorPlace . || Bitcoin and Twitter are 'black eyes' for Tesla, Wedbush's Dan Ives explains: Tesla ( TSLA ) has had its share of setbacks over the past year. The company revealed it sold 75% of its bitcoin holdings last quarter, and at the same time, CEO Elon Musk is in an ongoing battle with Twitter after trying to back out of his deal to acquire the social media platform. I think they both have been black eyes for the Tesla story, for Musk in particular, Ives said on Yahoo Finance Live (video above). Tesla, which initially purchased $1.5 billion worth of bitcoin ( BTC-USD ) in February 2021, converted approximately three-quarters of its bitcoin holding to fiat currency before the end of its second quarter, adding $936 million of cash to its balance sheet. It also announced it would start accepting bitcoin as payment for its vehicles. The moves sent crypto prices higher at the time. Crypto had a very volatile year, however. Following Tesla's announcement that it had shed most of its bitcoin holdings, the stock moved higher. Ives said it was "a move in the right direction in terms of some of those sales," and Tesla executives also defended the move in the company's most recent earnings call. We are certainly open to increasing bitcoin holdings in future," Tesla CFO Zachary Kirkhorn said. "So this should not be taken as some verdict on Bitcoin. Its just that we were concerned about overall liquidity for the company given COVID shutdowns in China." Musk also noted on the call that Tesla has not sold any of its Dogecoin ( DOGE-USD ) holdings. Tesla investors are also grappling with Elon Musk engaged in a legal battle with Twitter, which is fighting to force him to honor the terms of his $44 billion deal to buy the social media platform. Earlier this week a Delaware Chancery Court judge granted Twitter its motion for an expedited trial against Teslas CEO. The five-day trial is scheduled for October. In this file photo illustration, a phone screen displays the Twitter account of Tesla CEO Elon Musk with a photo of him shown in the background, on April 14, 2022, in Washington, DC. (OLIVIER DOULIERY / AFP) "The Twitter situation, because of Musk's ownership and what ultimately could happen in the court case, that continues to be a bit of an overhang," Ives said. "And that has ultimately played out in terms of what we have seen in the stock. Story continues Tesla stock is off more than 22% year to date. The Street and legal experts across the board view Twitter as having a strong iron fist upper hand heading into the Delaware court battle after months of this fiasco and nightmare playing out since April, Ives wrote in a recent note. This will be a fierce battle in court with the fake account/bot issue front and center, but ultimately, Twitter's board is holding Musk's feet to the fire to finish the deal at the agreed upon price. Seana Smith is an anchor with Yahoo Finance. Follow her on Twitter at @SeanaNSmith. Click here for the latest trending stock tickers of the Yahoo Finance platform Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and YouTube || Stock market live updates: Oil collapses, stocks slide ahead of inflation data: U.S. stocks fell sharply for a second straight session Tuesday as investors brace for June inflation data.
The commodity and currency markets were in focus for much of the trading day, with oil prices under duress and the dollar inching closer toward breaking parity with the euro.
The S&P 500 and Nasdaq Composite each closed down nearly 1%, while the Dow Jones Industrial Average shed 190 points, or 0.6%. All three indexes saw losses accelerate in the final hour of trading.
The euro fell as low as 1.0004 against the dollar as all eyes remained on whether the currency will fall below parity — or a 1:1 ratio — with the dollar.
In energy markets, crude oil futures were off more than 8% to trade below $96 a barrel as commodities remain under pressure amid investor fears of a global recession.
Tamara Basic Vasiljev, senior economist at Oxford Economics, said in a note Monday that all of the financial easing seen in advanced economies worldwide has been undone by this year's surge in interest rates and decline in financial markets. In Vasiljev's view, however, the recent slide in commodities suggests inflation pressures may have peaked, which could ease financial conditions going forward.
"Now that the commodity prices are falling again and inflation peak looks to be within reach it is likely that we are seeing the worst of financial conditions tightening," Vasiljev wrote. "If so, conditions worsening is dire but the level is still more in favor of [an] orderly slowdown rather than a recession."
Elsewhere in markets, crypto was under pressure again on Tuesday morning, with bitcoin (BTC-USD) falling below $20,000 once again after the world's biggest cryptocurrency enjoyed its best week since last fall.
This week also marks the start of second quarter earnings season, with PepsiCo (PEP) the first major corporation to post results for the quarter before Tuesday's market open.
The beverage and snack giantreported salesthat beat estimates and raised its forecast for the full-year.
• Walmart (WMT) and electric vehicle maker Canoo (GOEV)announced a dealTuesday morning that included a deal for the retailer to buy 4,500 electric vehicles with an option to purchase an additional 100,000 vehicles. Shares of Canoo more than doubled in early trade following this announcement; Canoo shares had been down 70% this year through Monday's close. Canoo shares finished Tuesday's session up 53%.
• Shares of ServiceNow (NOW) fell as much as 11% in morning trade after analysts said comments from CEO Bill McDermott last night on Mad Money suggested a more downbeat outlook for the software business. ServiceNow shares finished the day off 13%.
• Peloton (PTON) shares were up about 3% after the company said Tuesday it plans to stop all in-house bike production as the company attempts to turn around its business after the COVID-related boom. Peloton shares gained 3.7% on Tuesday.
• LoadDepot (LDI) shares were up more than 20% after thecompany announced plansto lay off staff and focus on the purchase and cash-out refi business amid a slowdown in housing; shares of the company finished higher by 14% on Tuesday.
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || Markets: Bitcoin, Ether fall; Solana, DOGE extend their declines: Bitcoin and Ether traded lower in Thursday afternoon trading in Asia. Solana saw the largest fall among the top 10 tokens by market capitalization, followed by Dogecoin. Asia equity markets were softer after minutes from the U.S. Federal Open Market Committee showed Fed Reserve officials saw little sign of inflation slowing. See related article: Markets: Bitcoin, Ether decline; memecoins fall back, XRP holds gains Fast facts Bitcoin fell 1.74% in the past 24 hours to trade at US$23,413 as of 4 p.m. in Hong Kong. Ethereum was flipping hands at US$1,846, down 2.63%, according to data from CoinMarketCap . Solana lost 5.04% at US$40.98, and Dogecoin dropped 3.92% to US$0.0813. Shiba Inu fell 5.37%, but it is still up 20.51% over the past seven days. On Asia equity markets, the Nikkei 225 closed down 0.96%. The Hong Kong Hang Seng index was off 0.8%, and the Shanghai Composite index edged down 0.46%. The FOMC minutes released on Wednesday in the U.S. indicated interest rates in the U.S. will likely continue rising until inflation is brought under control. Investors in Asia are also concerned about a slowdown in China’s economy. Chinese Premier Li Keqiang met with top officials in Shenzhen on Tuesday and urged them to support local businesses. “We’re currently at the most difficult point of economic stabilization,” Li said, as reported by the state-run Xinhua News Agency. “We must cement the economic recovery with a sense of urgency as time waits for no man.” See related article: U.S. federal deposit insurer allegedly deterring banks from doing business with crypto firms
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 18837.67, 19290.32, 19329.83, 21381.15, 21680.54, 21769.26, 22370.45, 20296.71, 20241.09, 19701.21
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-02-04]
BTC Price: 41500.88, BTC RSI: 55.86
Gold Price: 1806.60, Gold RSI: 48.51
Oil Price: 92.31, Oil RSI: 75.60
[Random Sample of News (last 60 days)]
BOTS Inc. Announces Formation of the First Metaverse REIT; Appoints a Seasoned Real Estate Advisor: SAN JUAN, PR, Jan. 05, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- BOTS, Inc. (OTC: BTZI), ("BOTS" or "The Company"), a global technology conglomerate specialized in Blockchain-based solutions including decentralized finance applications, cybersecurity, crypto generation, mining equipment repair, extended warranty contracts, and its upcoming proprietary Metaverse based on the terrestrial Las Vegas, VEGAS.MV announced today that it created a Metaverse real estate investment trust ("REIT"). Under our branding, REIT.MV, BOTS INC will mint a specialized token (REIT.MV token) which will be listed on several crypto exchanges. The Company has acquired the domain www.REIT.MV in addition to www.Vegas.MV and www.index.mv for which the Company intends to operate the first Metaverse index. BTZI Management believes those are high-value key domain properties for the Metaverse industry. BTZI will focus on developing, buying, renting, and minting virtual real estate in the Metaverse with profits to be distributed to the investors that will own REIT tokens based on smart contracts, similar to a traditional real estate investment trust. The upcoming REIT.MV company will be fully compliant with all crypto regulations and will provide an alternative investment opportunity. Forbes recently published an article titled: "The Metaverse Is A $1 Trillion Revenue Opportunity. Here's How To Invest..." The Metaverse, as the article explains, is part of the next iteration of the internet some are calling Web 3.0and it promises to upend everything as we know it. Within the next few years, we will all work, play, socialize and invest in this all-encompassing ecosystem, whether that means attending a professional conference at a virtual Four Seasons hotel, shopping for a new designer handbag for our digital avatar, or swinging through the New York City skyline with or as Spider-Man. It's no wonder, then, why many companies and investors are scrambling to gain a foothold in the emerging digital ecosystem that is the Metaverse, estimated by Grayscale Investments to be a trillion-dollar revenue opportunity. Investment banking group Jeffries believes investing in the Metaverse will be like investing in the earliest days of the internet. Head of thematic research Simon Powell says investors should focus first on hardware providers, then software providers, then on companies that operate within the Metaverse. Story continues "This plan provides BTZI shareholders numerous strategic and financial benefits, including enhancing long-term shareholder value," said S. Rubin, BOTS interim CEO. "We are creating a new Metaverse growth platform to allow it to more effectively execute our strategic initiatives, including greater diversification into Metaverse space." Other real estate companies have already made a move to the Metaverse. On December 9, 2021, Forbes reported that the blockchain infrastructure company, Alchemy, was launching its own venture capital fund. BOTS appointed Mr. Ben Soifer as its first REIT advisor. He is the Chief Investment Officer and Founder of Money Management Investment Fund, LLC. About Management Investment Fund, LLC Ben Soifer has been very successful through the commercial real estate markets of California and Texas. Growing up in poverty, and having to make sacrifices at an early age, taught Ben financial discipline. From being a Realtor to maintaining a focus on real estate investments, Ben has done it all. Through his podcast, Money Management Today, he is constantly revealing tips on how to make money in real estate markets. Digging into his years of experience in commercial real estate investing, Ben Soifer indicated that flex spaces could be the desired middle ground for landlords and commercial tenants, especially as the economy is starting to re-open. Traditionally, flex spaces are designed to fit every commercial need of their prospective tenants. They can be used as showrooms, offices, retail outlets, and more. Ben Soifer expects that commercial tenants will be yearning for these types of spaces and that commercial property investors need to be prepared to shift their strategies to accommodate this new demand on the commercial real estate market. For more information, please visit https://moneymanagement.today/ About BOTS, Inc. BOTS, Inc. is a global technology company specialized in Blockchain-based solutions, including decentralized finance applications, cybersecurity solutions, and owns a portfolio of digital assets and crypto-related businesses such as BeadSwap, a decentralized crypto exchange, Bitcoin ATM machines, and corresponding U.S. patents and Cyber Security Group LLC, an ISO/IEC 27001:2013 Information Security Management System certified company. The Company also provides crypto mining consulting, optimization, and crypto mining equipment repair and insurance. Track BTZI news on Facebook @ https://www.facebook.com/Bots.Bz/ Follow BTZI news on Twitter @Bots_bz http://www.Twitter.com/Bots_bz Find BTZI news at http://www.bots.bz BOTS, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com. For more information, visit http://www.bots.bz Visit BTZI on Facebook https://www.facebook.com/Bots.Bz/ Follow BTZI on Twitter @Bots_bz Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings. Contact: S. Rubin Interim CEO info@bots.bz For more information, please dial **BTZI (**2894) from your mobile phone (service in beta- available on ATT and Version and Sprint networks only) || The 2021 DAO Global Hackathon ended and the RainbowDAO team won three awards!: Lasting for 3 months, the largest Web3 hackathon ever organized on Gitcoin: 2021 DAO Global Hackathon
Singapore, Singapore, Dec. 26, 2021 (GLOBE NEWSWIRE) -- Lasting for 3 months, the largest Web3 hackathon ever organized on Gitcoin: 2021 DAO Global Hackathon (hackforfreedom.org), has officially ended at the end of December 2021.
In this grand event, the RainbowDAO team won three awards in four different tracks and became the biggest winner of this competition. The RainbowDAO Protocol has also become one of the most popular projects in this competition.
The 2021 DAO Global Hackathon ended and the RainbowDAO team won three awards!
What is the DAO Global Hackathon?
The DAO Global Hackathon is a virtual event sponsored by leading DAO infrastructure providers to build Web3 governance tools. It was officially launched on October 25 and officially ended on December 17, 2021. It has also become the largest Web3 hackathon ever organized on Gitcoin, and it has also become the largest event in the DAO infrastructure industry in 2021.
This competition has received extensive support and sponsorship from various well-known projects and DAO organizations in the DAO field. There are 23 strategic partners in total. They are: Agora Space, BanklessDAO, BitDAO, Daedalus, DeepDAO, Gitcoin, Gnosis, Harmony, Human protocol, LAUNCHub, VENTURE DAO, Metagov, MintGate, Mirana, Near Protocol, openzeppelin, Polygon, POKTnetwork, radicle, Snapshot, Superfluid, Tally and UMA.
It is precisely because of the strong support of so many top projects and well-known DAO organizations that this DAO hackathon has become the most watched event in the DAO industry in 2021. It has had a significant impact in the entire encryption world, and it also provides a new direction and cutting-edge solutions for the future development of the DAO infrastructure industry.
The DAO Global Hackathon is divided into four tracks, namely Multi-chain, Core DAO Tech, Finance & Operations and Community & NFTs. In the three-month competition, more than 1,000 hackers and technicians participated in the competition for a prize pool of 200,000 US dollars. In the end, a total of 12 winners were produced. Among them, the RainbowDAO team submitted a total of four projects, and finally three projects won awards, becoming the biggest winners in this DAO hackathon.
Among them, the multi-chain DAO factory project created by the RainbowDAO protocol won the championship in the Multi-chain track, the DAO NFT bank project won the second place in the NFT track, and the multi-signature committee project won the third place in the Core DAO Tech track. The projects submitted by the RainbowDAO team have received high praise from many judges in terms of code quality, UI design, and operation video demos. The RainbowDAO protocol has also become one of the final concerns of this competition.
What is RainbowDAO Protocol?
RainbowDAO Protocol is a multi-chain DAO infrastructure service protocol, focusing on the creation of web3 basic component. Anyone can create and manage their own DAO organization through RainbowDAO Protocol, including independent DAO,alliance DAO, parent DAO and child DAO. Any DAO can also create a management department within the DAO to achieve multi-level management of the organization.
There are two versions of RainbowDAO Protocol, Solidity version on EVM and Ink! version on WASM.The Solidity version is mainly deployed on Ethereum, BSC, Poygon, Avalanche, Fantom, and various L2 networks; the Ink! version is mainly deployed on the parallel chains on the Polkadot and Kusama relay chains, as well as other blockchains developed with the substrate framework.
What is Rainbowcity Foundation？
Rainbowcity Foundation is a non-profit foundation initiated and founded by Mr. Kunyuan. Headquartered in Singapore, Asia.It mainly engages in the incubation and investment of the crypto ecosystem. Mr. Kunyuan himself is a loyal fan of Bitcoin and a believer of Satoshi Nakamoto, dedicated to the spread of Satoshi Nakamoto's decentralized ideas.
He once put forward the concept of "Bit Civilization" for the first time in the world in July 2021 at the Bitcointalk Forum established by Satoshi Nakamoto , and wrote more than 60 articles to popularize the idea of Bitcoin,hoping to promote the development of the encryption industry worldwide and practice the true Bitcoin spirit.
Mr. Kunyuan has a rich experience in the crypto world. He was once the highest community leader of FCoin, the most influential community exchange in the Chinese world. In November 2018, in a referendum on the FCoin exchange, Mr. Kunyuan was elected as the first community committee member, and was appointed as the vice chairman of the community committee to fully preside over the work of the FCoin community.
In the second half of 2018 and the first half of 2019, Mr. Kunyuan cooperated with FCoin founder Mr. Zhang Jian to lead the FCoin community to achieve a comprehensive revival, making FCoin Exchange once again become one of the world's largest exchanges in the first half of 2019.
However, because many of Mr. Kunyuan's ideas could not be effectively implemented in the FCoin community, he chose to resign in June 2019 and began preparations for the Rainbowcity project. To some extent, Rainbowcity is a continuation of FCoin's community-based thinking, and it is also a continuing exploration of the true Satoshi Nakamoto spirit.
Mr. Kunyuan believes that in the crypto world, human civilization will have an unprecedented super economy in the future. It is constructed in the form of a decentralized protocol, which puts different and decentralized economic behaviors into a unified economy, and truly becomes the infrastructure of human civilization in the future. The Rainbowcity Foundation was established under this background.
The Rainbowcity Foundation plans to invest in 7 major areas in the next ten years, including Rainbow DeFi, Rainbow Investment, Rainbow Culture, Rainbow Network, Rainbow Industry, Rainbow Education and Rainbow R&D. Strive to become a super economy with a market value of one trillion US dollars. The RainbowDAO Protocol is the first project launched by the Rainbowcity Foundation to build the infrastructure of the DAO ecosystem and contribute our wisdom and strength to the development of the global DAO career.
Social media of RainbowDAO Protocol:
Twitter: https://twitter.com/RainbowcityDAO
Discord https://discord.gg/vbnvFEeYRr
Telegram(en):https://t.me/RainbowDAO
Company：Rainbowcity Foundation Ltd
Contact Person:Jim
Email:RainbowcityDAO@gmail.com
Website:http://www.rainbowdao.io
Telephone:+852-57050497(Only receive SMS messages)
There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation. || Trek Financial, LLC Buys PIMCO Enhanced Short Maturity Active Exchange-Trad, iShares Core ...: Investment company Trek Financial, LLC ( Current Portfolio ) buys PIMCO Enhanced Short Maturity Active Exchange-Trad, iShares Core S&P Small-Cap ETF, iShares 1-3 Year Treasury Bond ETF, iShares 20+ Year Treasury Bond ETF, iShares 0-3 Month Treasury Bond ETF, sells BTC iShares Core MSCI EAFE ETF, PowerShares QQQ Trust Ser 1, S&P 500 ETF TRUST ETF, Vanguard Dividend Appreciation FTF, SPDR Bloomberg High Yield Bond ETF during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Trek Financial, LLC. As of 2021Q4, Trek Financial, LLC owns 213 stocks with a total value of $1.1 billion. These are the details of the buys and sells. New Purchases: SGOV, ITB, IDX, USMV, LKQ, IWF, ULTA, GILD, UUP, KRBN, WM, CDC, BETZ, IWB, PKG, OLN, SJM, EXR, RPG, PJAN, IYH, UTRN, XRT, CTRA, CYA, ARKQ, AIA, TWLO, RARE, SRC, SBRA, EBAY, RTX, K, DRE, FIS, ACN, GRWG, Added Positions: MINT, IJR, SHY, TLT, BNDX, XLY, LQD, CSCO, GLD, IVV, SPD, XLB, FALN, TLH, DELL, DOX, EIS, CMCSA, PM, EFV, ESGU, MRK, TIP, SMH, XLV, ICVT, IEF, EFG, EVR, STAG, UTG, AAPL, LLY, CLX, PYPL, GOOGL, INTC, GBCI, IWV, ENB, MRGR, PEP, BITQ, BKNG, IQV, FB, V, MA, ABC, WAT, AMZN, NTAP, CUK, COST, KMX, BRK.B, BP, IXUS, USFR, GPC, UBER, VZ, ET, BKT, TGT, MO, PSA, EXPI, PGR, JPM, RBLX, DON, OMC, ORI, UNH, NFLX, JNJ, Reduced Positions: IEFA, QQQ, SPY, VIG, JNK, BIL, XLRE, EMB, IGSB, EWG, IYE, XLC, XLK, IXN, XLU, IXG, MGK, GRN, VLUE, XLE, XLF, ESGE, XLI, FLOT, COMT, AGG, XLP, DAL, MBB, AMD, BSV, HD, LMT, VPU, MORN, PFE, SCHD, PG, TSM, UPS, HLI, MMM, FTSD, GOVT, IEMG, ANTM, WMT, ABBV, VEA, VGSH, LOW, VTV, VUG, NBEV, FLO, CVX, AMGN, UNP, UHAL, JILL, Sold Out: FXE, EWL, INDA, EWN, THD, HPQ, VMW, MRNA, BC, NIB, FL, INFL, IBM, TTC, IBB, QED, RSX, SCIF, BSCL, XOP, TSN, CVS, CCL, GIS, MJ, BA, UNG, CME, REMX, CI, GE, MU, NEM, IAU, PXD, DG, SHLX, Warning! GuruFocus has detected 6 Warning Signs with CCI. Click here to check it out. MINT 15-Year Financial Data The intrinsic value of MINT Peter Lynch Chart of MINT Story continues For the details of Trek Financial, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/trek+financial%2C+llc/current-portfolio/portfolio These are the top 5 holdings of Trek Financial, LLC PowerShares QQQ Trust Ser 1 ( QQQ ) - 360,947 shares, 13.40% of the total portfolio. Shares reduced by 30.38% S&P 500 ETF TRUST ETF ( SPY ) - 281,389 shares, 12.47% of the total portfolio. Shares reduced by 30.68% PIMCO Enhanced Short Maturity Active Exchange-Trad ( MINT ) - 1,190,878 shares, 11.28% of the total portfolio. Shares added by 3923.51% Vanguard Dividend Appreciation FTF (VIG) - 593,465 shares, 9.51% of the total portfolio. Shares reduced by 27.96% iShares 20+ Year Treasury Bond ETF (TLT) - 537,992 shares, 7.44% of the total portfolio. Shares added by 117.22% New Purchase: iShares 0-3 Month Treasury Bond ETF (SGOV) Trek Financial, LLC initiated holding in iShares 0-3 Month Treasury Bond ETF. The purchase prices were between $100 and $100.03, with an estimated average price of $100.01. The stock is now traded at around $100.040000. The impact to a portfolio due to this purchase was 1.82%. The holding were 194,759 shares as of 2021-12-31. New Purchase: BTC iShares U.S. Home Construction ETF (ITB) Trek Financial, LLC initiated holding in BTC iShares U.S. Home Construction ETF. The purchase prices were between $66.15 and $82.97, with an estimated average price of $75.43. The stock is now traded at around $72.840000. The impact to a portfolio due to this purchase was 0.2%. The holding were 25,578 shares as of 2021-12-31. New Purchase: VanEck Indonesia Index ETF (IDX) Trek Financial, LLC initiated holding in VanEck Indonesia Index ETF. The purchase prices were between $19 and $20.77, with an estimated average price of $20.02. The stock is now traded at around $20.010000. The impact to a portfolio due to this purchase was 0.13%. The holding were 68,326 shares as of 2021-12-31. New Purchase: BTC iShares MSCI USA Min Vol Factor ETF (USMV) Trek Financial, LLC initiated holding in BTC iShares MSCI USA Min Vol Factor ETF. The purchase prices were between $73.05 and $81.04, with an estimated average price of $77.29. The stock is now traded at around $77.430000. The impact to a portfolio due to this purchase was 0.13%. The holding were 16,893 shares as of 2021-12-31. New Purchase: LKQ Corp (LKQ) Trek Financial, LLC initiated holding in LKQ Corp. The purchase prices were between $49.83 and $60.03, with an estimated average price of $56.58. The stock is now traded at around $55.220000. The impact to a portfolio due to this purchase was 0.08%. The holding were 14,443 shares as of 2021-12-31. New Purchase: iShares Russell 1000 Growth ETF (IWF) Trek Financial, LLC initiated holding in iShares Russell 1000 Growth ETF. The purchase prices were between $270.63 and $309.52, with an estimated average price of $296.53. The stock is now traded at around $283.430000. The impact to a portfolio due to this purchase was 0.07%. The holding were 2,594 shares as of 2021-12-31. Added: PIMCO Enhanced Short Maturity Active Exchange-Trad (MINT) Trek Financial, LLC added to a holding in PIMCO Enhanced Short Maturity Active Exchange-Trad by 3923.51%. The purchase prices were between $101.51 and $101.8, with an estimated average price of $101.63. The stock is now traded at around $101.385000. The impact to a portfolio due to this purchase was 11%. The holding were 1,190,878 shares as of 2021-12-31. Added: iShares Core S&P Small-Cap ETF (IJR) Trek Financial, LLC added to a holding in iShares Core S&P Small-Cap ETF by 633.67%. The purchase prices were between $107.97 and $119.54, with an estimated average price of $113.43. The stock is now traded at around $109.890000. The impact to a portfolio due to this purchase was 5.43%. The holding were 588,457 shares as of 2021-12-31. Added: iShares 1-3 Year Treasury Bond ETF (SHY) Trek Financial, LLC added to a holding in iShares 1-3 Year Treasury Bond ETF by 889.67%. The purchase prices were between $85.49 and $86.06, with an estimated average price of $85.72. The stock is now traded at around $85.100000. The impact to a portfolio due to this purchase was 5.33%. The holding were 743,439 shares as of 2021-12-31. Added: iShares 20+ Year Treasury Bond ETF (TLT) Trek Financial, LLC added to a holding in iShares 20+ Year Treasury Bond ETF by 117.22%. The purchase prices were between $141.01 and $154.18, with an estimated average price of $147.11. The stock is now traded at around $141.085000. The impact to a portfolio due to this purchase was 4.01%. The holding were 537,992 shares as of 2021-12-31. Added: Vanguard Total International Bond ETF (BNDX) Trek Financial, LLC added to a holding in Vanguard Total International Bond ETF by 1218.26%. The purchase prices were between $54.87 and $55.81, with an estimated average price of $55.32. The stock is now traded at around $54.514000. The impact to a portfolio due to this purchase was 1.46%. The holding were 306,350 shares as of 2021-12-31. Added: Consumer Discretionary Select Sector SPDR (XLY) Trek Financial, LLC added to a holding in Consumer Discretionary Select Sector SPDR by 53.70%. The purchase prices were between $179.1 and $211.1, with an estimated average price of $199.24. The stock is now traded at around $192.300000. The impact to a portfolio due to this purchase was 0.47%. The holding were 70,272 shares as of 2021-12-31. Sold Out: Invesco CurrencyShares Euro Trust (FXE) Trek Financial, LLC sold out a holding in Invesco CurrencyShares Euro Trust. The sale prices were between $104.29 and $108.82, with an estimated average price of $106.44. Sold Out: iShares MSCI Switzerland ETF (EWL) Trek Financial, LLC sold out a holding in iShares MSCI Switzerland ETF. The sale prices were between $46.84 and $53.02, with an estimated average price of $50.13. Sold Out: BTC iShares MSCI India ETF (INDA) Trek Financial, LLC sold out a holding in BTC iShares MSCI India ETF. The sale prices were between $43.6 and $47.74, with an estimated average price of $46.02. Sold Out: iShares MSCI Netherlands ETF (EWN) Trek Financial, LLC sold out a holding in iShares MSCI Netherlands ETF. The sale prices were between $47.6 and $52.97, with an estimated average price of $50.47. Sold Out: HP Inc (HPQ) Trek Financial, LLC sold out a holding in HP Inc. The sale prices were between $26.48 and $38.1, with an estimated average price of $32.89. Sold Out: iShares MSCI Thailand ETF (THD) Trek Financial, LLC sold out a holding in iShares MSCI Thailand ETF. The sale prices were between $71.74 and $77.99, with an estimated average price of $75.28. Here is the complete portfolio of Trek Financial, LLC. Also check out: 1. Trek Financial, LLC's Undervalued Stocks 2. Trek Financial, LLC's Top Growth Companies, and 3. Trek Financial, LLC's High Yield stocks 4. Stocks that Trek Financial, LLC keeps buyingThis article first appeared on GuruFocus . || Instagram is Currently Exploring NFTs, CEO Reveals: The nonfungible token (NFT) space is one of the fastest-growing within the cryptocurrency industry, attracting major companies and celebrities in recent months. The sector is expected to record further growth over the coming months and years. Social Media Giant is Entering the NFT Space Instagram CEO Adam Mosseri has revealed that the social media giant is actively exploring the NFT space. The Meta -owned social media platform is the latest big company to enter the budding NFT industry . Mosseri said, “Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience. I think it’s an interesting place that we can play…and also a way to hopefully help creators.” This isn’t the first time Instagram is entering the NFT space. Earlier this year, the company hosted a panel for NFT creators in a bid to attract talent to its social media platform. Instagram designed the event to help creators grow their following and monetize their platforms. Instagram’s desire to go deeper into the NFT space doesn’t come as a surprise as its parent company Facebook rebranded to Meta two months ago, a move that underlined its desire to explore the NFT and metaverse sector. NFT Space Continues to Attract Big Companies The past few months have seen numerous large companies enter the NFT space. Last week, Microsoft and Warner Bros became the latest companies to invest in the NFT space after backing startup Palm NFT Studio . Other leading companies such as Adidas , Nike , Marvel, DC Comics, and several others entered the NFT sector area this year. The sector has also attracted numerous celebrities since the start of the year. NFTs have become very appealing to music stars, movie actors and athletes of various sports. Former US first lady Melania Trump also launched her first NFT last week. The adoption is expected to continue as the sector is just starting to grow and grab people’s attention. Instagram isn’t the only social media company that is expanding into the NFT space. Social media platform Parler announced earlier today that it would expand its business into nonfungible tokens. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Oracle Agrees to Acquire Medical Records Company Cerner E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Reaction to 15567.50 – 15284.00 Sets Near-Term Tone Instagram is Currently Exploring NFTs, CEO Reveals More Than a Quarter of All Bitcoin in Circulation Is Controlled by Few Investors AUD/USD Forex Technical Analysis – Straddling .7109 Pivot Ahead of RBA Minutes USD/JPY Forex Technical Analysis – Rangebound with 114.029 Resistance, 113.173 Support || The five biggest cryptocurrency hacks of the year: 2021 saw an incredible amount of adoption and interest in the cryptocurrency industry, leading to the increase in the development and investment of DeFi platforms. Following the spike of interest, the total value locked (TVL) across the cryptocurrency industry reached upwards of $230bn . However, hackers are catching on and beginning to target unaudited DeFi protocols with increasingly sophisticated attacks. Coin Rivet runs through the top five biggest cryptocurrency hacks faced in 2021: Poly Network – $611m The Poly Network hack in August was the biggest cryptocurrency exploit… ever! More than $600m in assets were stolen from the multi-chain protocol, including $264m worth of assets stolen from Ethereum wallets, $250m from Binance Smart Chain wallets and $85m from Polygon. Following the hack, the cryptocurrency industry banded together to stop the funds being used and ‘laundered’ by the hacker. Then, in a surprising turn of events, the hacker decided to return $260m of stolen funds after being ‘hunted’ by various security firms such as Slowmist and Chainalysis. The fallout led to the hacker – known as ‘Mr White Hat’ – to first be offered a role as ‘chief security adviser’ by Poly Network before returning the rest of the stolen funds in exchange for a 161 ETH bounty. BitMart – $196m The BitMart hack saw a total of $196m in assets stolen from two of the platform’s ‘hot wallets’ on Ethereum and BSC in December. The assets stolen from the wallets included mostly ‘memecoins’ such as SHIB alongside a variety of BSC-based tokens that offer similar utility. Following the hack , rumours circulated within the platforms Telegram channel, where it was dismissed as ‘ fake news ‘. Upon further investigation, BitMart CEO Sheldon Xia confirmed that a “ large-scale security breach ” occurred and that funds were stolen. Little is still known about the cause of the exploit. Story continues Cream Finance – $148m DeFi platform Cream Finance was hacked twice in 2021, first for $18m in August followed by a larger $130m exploit in October. The first saw $18m in ETH stolen thanks to a smart contract issue before the second hacker was able to use ‘flash loans’ to repeatedly lend and borrow funds across multiple wallets. In total, the hacker managed to get away with a massive trough of assets including 2,760 ETH, 76 BTC and more than $10m in stablecoins. Vulcan Forged – $140m In December, the play-to-earn NFT game Vulcan Forged had a total of $140m of PYR tokens stolen from compromised wallets. A majority of the assets were taken from users wallets, which were linked to an integrated wallet service called Venly. The exploit saw the ‘private keys’ of 96 addresses being compromised and allow the attacker to drain the contents of their wallets, which also included vast amounts of ETH and MATIC. Following the hack, the team reimbursed users from its treasury. Badger Finance – $120m The final hack on our list again occurred in December when BadgerDAO faced a ‘front-end’ attack that saw more than $120m in ETH and BTC stolen from the platform. Taking advantage of contract ‘approvals’ – which allows the smart contract to interact with the funds within a wallet – the hacker ‘inserted’ additional approvals and was able to send user funds to their own wallet in secret. Following the reveal of the exploit, the Badger team announced it had paused all smart contracts before investigating further. Popular crypto platform Celsius was also affected , reportedly losing 896 Bitcoin ($50m) thanks to the exploit. *All information was correct at the time of writing. || Financial Freedom: Building A Bitcoin Economy in a South African Township: BeInCrypto – As crypto acceptance broadens, impacts on the lives of those who hold it grow too. South African Hermann Vivier used Bitcoin to empower township communities who could benefit the most from crypto financial freedom. 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 || Terra Becomes Second-Largest DeFi Protocol, Surpassing Binance Smart Chain: Decentralized payments network Terra is now the second-largest blockchain for decentralized finance (DeFi) protocols in terms of total value locked (TVL). Terra, which is behind Ethereum, crossed Binance Smart Chain (BSC) this week. On Terra, 13 projects lock over $18.2 billion in value, data from analytics tool DeFiLlama shows. Thats over $1.4 billion per protocol on average compared with an average of $73 million per protocol on BSC, which has $16.5 billion locked on 225 protocols. The figures are a nearly 42,000% increase compared to December 2020, when DeFi projects on Terra held $42 million in value. Ethereum retains the DeFi crown with $152 billion in value locked on 361 protocols. DeFi projects rely on smart contracts instead of middlemen for financial services such as lending, trading and borrowing. DeFi heats up on Terra Leading the TVL charts on Terra is Anchor, a savings protocol offering low-volatile yields on Terra stablecoin deposits. Anchor locks over $7.7 billion in value and accounts for 42% of Terras TVL. Anchor users accrue rewards through a diversified stream of staked rewards from major proof-of-stake blockchains. Staked assets liquidity provider Lido is next on the list with over $5.4 billion in TVL. In third place is decentralized exchange (DEX) Terraswap, which has seen its TVL increase over 95% in the past week. Terraswap matches peer-to-peer trades between users using Terras smart contracts. All liquidity, as on other DEXs, is contributed by the users themselves, in return for token rewards based on the amount of liquidity they provide for each trading pair. Terra TVL chart (DeFiLlama) Metaverse and gaming applications have made their mark on Terra as well. The recently launched StarTerra, which calls itself a gamified launchpad that supports nobn-fungible token ( NFT ) integration, locks up $21 million in value, while LoTerra, a decentralized lottery, holds over $311,000 in value. The increase in TVL on Terra coincided with the rising price of its LUNA token. The price is up 54% compared to the past week, trading at all-time highs of $83 on Tuesday morning, as per data from CoinGecko. Story continues Some attribute LUNAs success to both its token mechanisms and use in DeFi applications. Terra has recently been very successful both in terms of its LUNA coin price and the TVL on its DeFi protocols. The demand for the LUNA token mostly stems from the demand for UST, the algorithmic stablecoin on Terra which is minted using (burning) LUNA, said Adrian Krion, CEO of Web 3 gaming company Spielworks. Unlike other layer 1 blockchains, Terras TVL isnt mainly driven by swap protocols but by savings protocols utilizing so-called bonded tokens, native LUNA tokens which participate in the stabilization of the protocol and thereby generate yield, he said in a message to CoinDesk. LUNA was one of the strongest-performing cryptocurrencies in the past month even as the broader market tumbled. Bitcoin and ether have traded in a tight range since November 2021, but tokens of Ethereum rivals Solana and Avalanche have seen gains as traders placed bets on them outperforming Ethereum. Some in crypto circles refer to investing in SOL, LUNA and AVAX as the SoLunAvax trio, and the trade has netted nearly 400% since May 2021 compared to an equally weighted basket of bitcoin and ether in the same time period. UPDATE (Dec. 21, 08:57 UTC) : Adds Spielworks CEOs comment in ninth and tenth paragraph. || Solana’s Kyle Samani Predicts ‘Game Over’ Bitcoin Flippening: BeInCrypto –
Kyle Samani has predicted that once bitcoin is flipped, which he predicts will occur in the medium term, that it’s ‘pretty much game over for BTC.’
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Nomura Asset Management Co Ltd Buys Blackstone Secured Lending Fund, Thermo Fisher Scientific ...: Tokyo, M0, based Investment companyNomura Asset Management Co Ltd(Current Portfolio) buys Blackstone Secured Lending Fund, Thermo Fisher Scientific Inc, Eli Lilly and Co, Amgen Inc, Fortinet Inc, sells BTC iShares MSCI USA Value Factor ETF, Chegg Inc, Alibaba Group Holding, Pinterest Inc, Johnson Controls International PLC during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Nomura Asset Management Co Ltd. As of 2021Q4, Nomura Asset Management Co Ltd owns 1263 stocks with a total value of $19.8 billion. These are the details of the buys and sells.
• New Purchases:BXSL, CWB, ICVT, ANGL, ARES, SJNK, ICLN, LPLA, IVV, QUAL, AX, CP, ENTG, NUAN, SBNY, LCID, RIVN, ACWI, IGV, SCHX, USRT, XLY, XRT, VALE, MDC, PBR, KRNT, MEDP, BYND, ZI, UPST, AFRM, COUR, COIN, SOFI, SOFI, DUOL, KIND, DIA, HEDJ, IBB, IHI, IUSG, IWF, IWY, JKE, PKW, SCHD, SPIP, TAN, VTEB, VTIP, VWO, XHB, APA, ARWR, ITUB, BCRX, CMA, EXP, NVO, RYAAY, SOHU, STAA, THC, TBBK, TD, UAA, HEES, BACPL.PFD, CCXI, MMYT, ZWS, TCN, ITCI, DNOW, LOB, PSTG, AXSM, PECO, NTLA, AA, SWCH, APLS, SAIL, DNLI, ARVN, INMD, BDXB.PFD, LEGN, RLAY, BLI, HRMY, ASAN, ABCL, CPNG, APP, HOOD, EWCZ, HRT, BIRD, ONL, DFE, DRIV, DXJ, IYF, RPV, URNM, USO, VNQ, XLK, XOP,
• Added Positions:TMO, AMZN, LLY, AVGO, AMGN, TSLA, FB, JPM, FTNT, BMY, FALN, ADBE, PANW, MRNA, EW, PFE, O, GOOG, MRVL, ABBV, MS, UNH, VRTX, HLT, TIP, BLK, DXCM, ILMN, NKE, BX, NOW, HYG, AMD, AXP, SCHW, DHR, INTU, CRM, TXN, WSM, MELI, MSCI, ZTS, CARR, PLD, ADI, AMAT, BRK.B, CBRE, DE, DPZ, EL, LOW, MCD, QCOM, SIVB, DIS, ANTM, XYL, TRU, ABNB, JNK, QQQ, T, ABMD, ALNY, CMCSA, ECL, EFX, EQIX, IT, LEN, SPGI, MPWR, ROK, ROST, SPG, USB, UPS, VMW, KKR, ENPH, FANG, CDW, PCTY, SHOP, TDOC, SQ, TW, TXG, STIP, VHT, VPU, ACN, APD, ARE, AMT, ATO, ADP, AVB, BAC, BAX, BMRN, BA, BSX, CSX, CPT, CAH, CAT, CVX, CME, C, KO, DLR, DRE, EMR, EQR, ESS, EXPE, EXPD, EXR, XOM, WELL, IBM, ITW, INFY, ICE, ISRG, IRM, KRG, MDLZ, LRCX, MKC, MPW, MCHP, MAA, MBT, PNC, RL, LIN, BKNG, PSA, REGN, WRK, ROP, LSI, TRV, SWK, SBUX, SUI, TJX, CUBE, UDR, RTX, VFC, VTR, GWW, PODD, ULTA, PM, NXPI, APTV, REXR, SYF, INVH, SNAP, OKTA, ZS, BILI, DOCU, DDOG, PTON, BILL, RPRX, SNOW, DASH, RBLX, RKLB, DBC, GSG, LIT, SHYG, SMH, VCR, VCSH, XTN, AES, ASML, AKR, AAP, AFL, A, ADC, ALX, ALGN, Y, ALL, MO, HES, AEE, ACC, AEP, AMP, AME, APH, IVZ, NLY, AON, AIRC, WTRG, ARCC, AJG, AHT, AIZ, AZO, ADSK, AVY, TFC, BIDU, BLL, CIB, BK, BBY, BIO, BWA, BXP, BDN, BF.B, CF, CTRA, CDNS, COF, KMX, CX, CNC, CNP, LUMN, CRL, LNG, CSGP, TPR, CTSH, NNN, DXC, CAG, STZ, COO, CPRT, OFC, CUZ, CCK, DHI, DTE, DRI, SITC, DVN, DRH, DISCA, D, DOV, DD, DUK, EOG, EGP, EMN, EIX, EPR, ELS, FDS, FAST, FRT, M, FITB, FR, FE, FISV, F, BEN, FCX, RHP, GD, GE, GPC, GTY, GOOD, INDT, HDB, EQC, MNST, LHX, HAS, PEAK, HR, HPQ, HIW, SVC, HST, HBAN, INFO, INCY, IFF, IP, IPG, CSR, JKHY, JNPR, KLAC, KEY, KRC, KIM, LTC, LH, LVS, LXP, BBWI, LNC, LYV, MGM, MAC, MRO, MKL, MAR, MLM, MAS, MCK, MET, MHK, TAP, MSI, VTRS, NRG, NDAQ, NHI, NTAP, NBIX, NWL, NI, NDSN, NSC, NTRS, NOC, NVAX, ORLY, ON, OXY, OMC, OKE, PCAR, PPL, PSB, PTC, PH, PAYX, PKI, PXD, PLUG, PRU, PEG, PHM, PWR, RPT, RJF, REG, RSG, RMD, RCL, POOL, SLG, SLB, SEE, SGEN, SRE, SHW, SIRI, SO, LUV, STT, STE, SHO, NLOK, SNPS, SYY, TROW, TSM, SKT, TGT, TDY, TFX, TER, GEO, GL, TYL, TSN, UAL, UMH, URI, UHT, UHS, UBA, MTN, VRSN, VNO, VMC, WPC, WRB, WAB, WBA, WRE, WM, WY, WHR, WMB, WTW, WYNN, XLNX, YUM, ZBRA, ZBH, CMG, TDG, GTLS, WU, LDOS, DEI, OC, IPGP, JAZZ, DFS, TEL, AWK, ROIC, KDP, DISCK, OPI, STWD, DBRG, PEB, CHTR, TRNO, PDM, GNRC, CBOE, HPP, WSR, SBRA, APTS, FLT, AAT, INN, KMI, HII, STAG, RLJ, YNDX, MOS, MPC, HZNP, FBHS, EPAM, PSX, HTA, FIVE, SRC, WDAY, ALEX, CONE, LAND, IQV, NRZ, NWS, NWSA, DOC, AMH, IRT, BURL, TWTR, GLPI, BRX, ALLE, AMC, AAL, CIO, PAYC, CTRE, ANET, CTLT, CFG, CYBR, CZR, W, KEYS, LBRDK, PGRE, STOR, UE, ASND, DEA, XHR, SEDG, ETSY, NSA, BPMC, APLE, GNL, KHC, Z, FCPT, UA, MGP, LSXMK, FTV, TWLO, IIPR, PK, HWM, CVNA, KREF, IR, PLYM, SAFE, AFIN, JBGS, BKR, ROKU, MDB, VICI, ILPT, COLD, CDAY, EPRT, PDD, LYFT, UBER, AVTR, CTVA, CRWD, AMCR, NET, OTIS, LI, NTST, BNL, PLTR, AIV, INDA, MOO, VDC, VFH, VGT, VOO,
• Reduced Positions:CHGG, PINS, AAPL, JCI, ZM, PYPL, AOS, BDX, DVA, FVRR, ESTC, MA, CVS, CI, GOOGL, WAT, PNR, JD, CSCO, COUP, GILD, INTC, NVDA, V, LEA, ORCL, ATVI, MDT, ES, SYK, J, JNJ, NVR, NFLX, SNA, NIO, GPOR, IAU, TLT, FIS, NEE, TTWO, VGSH, MMM, COST, GPN, NTES, VZ, SPLK, SMLP, FTSI, EMB, ALV, BIIB, SAM, CPB, CHKP, CHD, ED, DLTR, EA, ERIE, EXC, FDX, GIS, HD, HON, SJM, KR, LMT, MKTX, MRK, MCO, NEM, OHI, PNW, NTR, PG, RNR, SBAC, TSCO, VLO, WFC, WEC, MASI, GM, VOYA, CHCT, AGR, LW, ATUS, SE, FUTU, DKNG, EEMA, IYR, MBB, NOBL, USIG, VEA, VGK, AKAM, ALB, LNT, ACGL, BRO, CHRW, CDR, CERN, CTAS, CTXS, CCEP, CL, TCOM, XRAY, FMC, FNF, FL, GNTX, HSIC, HT, HSY, HRL, HUM, JBHT, KMB, LKQ, LII, VRE, MU, MOH, OLP, CMCT, PPG, PBCT, PGR, DGX, RPM, RHI, ROL, SWKS, SCCO, WST, EVRG, L, DAL, VRSK, DG, BAH, HCA, VEEV, BHR, ALLY, BRG, FPI, HUBS, QRVO, GDDY, VST, ZTO, AVLR, ELAN, FOXA, FOX, HHR, PGNY, IAC, BSY, ASHR, BJK, DBA, EWT, PAVE, SPY, VAW, VB, XME,
• Sold Out:VLUE, BABA, FRPT, VER, COR, KSU, LEG, EWU, CXP, BIGC, KD, EMLC, PPD, FEZ, KRE, PEJ, RWO, XLE, SU, RPAI, PMT, ILF, EWG, EWI, EWN, XPO, RRX, GNOM, IDNA, EEM, PENN, OIH, JBL, GPS, TLH, VIS, EXEL, BC, SPR, BLMN, NCLH, VNET, ATHM, WB, GLOB, RGA, AEO, EWA, LU, OZON, KVSB, RELY, YPF, AMLP, EDOC,
• Warning! GuruFocus has detected 2 Warning Sign with PYPL. Click here to check it out.
• TMO 15-Year Financial Data
• The intrinsic value of TMO
• Peter Lynch Chart of TMO
For the details of NOMURA ASSET MANAGEMENT CO LTD's stock buys and sells,go tohttps://www.gurufocus.com/guru/nomura+asset+management+co+ltd/current-portfolio/portfolio
These are the top 5 holdings of NOMURA ASSET MANAGEMENT CO LTD
1. Microsoft Corp (MSFT) - 3,104,048 shares, 5.27% of the total portfolio. Shares added by 0.12%
2. Apple Inc (AAPL) - 5,322,649 shares, 4.78% of the total portfolio. Shares reduced by 4.22%
3. Amazon.com Inc (AMZN) - 189,109 shares, 3.19% of the total portfolio. Shares added by 6.43%
4. NVIDIA Corp (NVDA) - 1,635,664 shares, 2.43% of the total portfolio. Shares reduced by 3.36%
5. Meta Platforms Inc (FB) - 1,057,605 shares, 1.80% of the total portfolio. Shares added by 7.72%
New Purchase: Blackstone Secured Lending Fund (BXSL)
Nomura Asset Management Co Ltd initiated holding in Blackstone Secured Lending Fund. The purchase prices were between $0 and $37.64, with an estimated average price of $32.23. The stock is now traded at around $29.390000. The impact to a portfolio due to this purchase was 1.17%. The holding were 6,790,969 shares as of 2021-12-31.
New Purchase: SPDR Bloomberg Convertible Securities ETF (CWB)
Nomura Asset Management Co Ltd 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 $77.220000. The impact to a portfolio due to this purchase was 0.09%. The holding were 205,687 shares as of 2021-12-31.
New Purchase: BTC iShares Convertible Bond ETF (ICVT)
Nomura Asset Management Co Ltd initiated holding in BTC iShares Convertible Bond ETF. The purchase prices were between $86.86 and $97.6, with an estimated average price of $92.91. The stock is now traded at around $83.676200. The impact to a portfolio due to this purchase was 0.08%. The holding were 180,167 shares as of 2021-12-31.
New Purchase: VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL)
Nomura Asset Management Co Ltd initiated holding in VanEck Vectors Fallen Angel High Yield Bond ETF. The purchase prices were between $32.22 and $33.21, with an estimated average price of $32.71. The stock is now traded at around $31.600000. The impact to a portfolio due to this purchase was 0.07%. The holding were 439,716 shares as of 2021-12-31.
New Purchase: SPDR Bloomberg Short Term High Yield Bond ETF (SJNK)
Nomura Asset Management Co Ltd 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 $26.725000. The impact to a portfolio due to this purchase was 0.05%. The holding were 398,600 shares as of 2021-12-31.
New Purchase: Ares Management Corp (ARES)
Nomura Asset Management Co Ltd initiated holding in Ares Management Corp. The purchase prices were between $73.25 and $88.84, with an estimated average price of $81.54. The stock is now traded at around $78.320000. The impact to a portfolio due to this purchase was 0.05%. The holding were 121,185 shares as of 2021-12-31.
Added: Thermo Fisher Scientific Inc (TMO)
Nomura Asset Management Co Ltd added to a holding in Thermo Fisher Scientific Inc by 53.10%. The purchase prices were between $569 and $667.24, with an estimated average price of $625.69. The stock is now traded at around $586.035000. The impact to a portfolio due to this purchase was 0.26%. The holding were 221,149 shares as of 2021-12-31.
Added: Eli Lilly and Co (LLY)
Nomura Asset Management Co Ltd added to a holding in Eli Lilly and Co by 36.14%. The purchase prices were between $224.85 and $279.04, with an estimated average price of $254.3. The stock is now traded at around $245.760000. The impact to a portfolio due to this purchase was 0.14%. The holding were 374,433 shares as of 2021-12-31.
Added: Amgen Inc (AMGN)
Nomura Asset Management Co Ltd added to a holding in Amgen Inc by 24.06%. The purchase prices were between $198.88 and $227.6, with an estimated average price of $211.1. The stock is now traded at around $227.000000. The impact to a portfolio due to this purchase was 0.13%. The holding were 576,333 shares as of 2021-12-31.
Added: Fortinet Inc (FTNT)
Nomura Asset Management Co Ltd added to a holding in Fortinet Inc by 37.65%. The purchase prices were between $288.87 and $367.67, with an estimated average price of $329.9. The stock is now traded at around $299.680000. The impact to a portfolio due to this purchase was 0.11%. The holding were 221,232 shares as of 2021-12-31.
Added: iShares Fallen Angels USD Bond ETF (FALN)
Nomura Asset Management Co Ltd added to a holding in iShares Fallen Angels USD Bond ETF by 79.03%. The purchase prices were between $29.31 and $30.2, with an estimated average price of $29.76. The stock is now traded at around $28.740500. The impact to a portfolio due to this purchase was 0.1%. The holding were 1,489,017 shares as of 2021-12-31.
Added: Bristol-Myers Squibb Co (BMY)
Nomura Asset Management Co Ltd added to a holding in Bristol-Myers Squibb Co by 28.16%. The purchase prices were between $53.63 and $62.52, with an estimated average price of $58.67. The stock is now traded at around $64.795000. The impact to a portfolio due to this purchase was 0.1%. The holding were 1,489,787 shares as of 2021-12-31.
Sold Out: BTC iShares MSCI USA Value Factor ETF (VLUE)
Nomura Asset Management Co Ltd sold out a holding in BTC iShares MSCI USA Value Factor ETF. The sale prices were between $100.68 and $109.77, with an estimated average price of $104.7.
Sold Out: Alibaba Group Holding Ltd (BABA)
Nomura Asset Management Co Ltd sold out a holding in Alibaba Group Holding Ltd. The sale prices were between $111.96 and $177.7, with an estimated average price of $145.1.
Sold Out: Freshpet Inc (FRPT)
Nomura Asset Management Co Ltd sold out a holding in Freshpet Inc. The sale prices were between $90.85 and $158.53, with an estimated average price of $123.
Sold Out: (VER)
Nomura Asset Management Co Ltd sold out a holding in . The sale prices were between $46.36 and $52.16, with an estimated average price of $49.13.
Sold Out: (KSU)
Nomura Asset Management Co Ltd sold out a holding in . The sale prices were between $276.49 and $311.4, with an estimated average price of $299.1.
Sold Out: Leggett & Platt Inc (LEG)
Nomura Asset Management Co Ltd sold out a holding in Leggett & Platt Inc. The sale prices were between $38 and $48.1, with an estimated average price of $43.32.
Here is the complete portfolio of NOMURA ASSET MANAGEMENT CO LTD. Also check out:1. NOMURA ASSET MANAGEMENT CO LTD's Undervalued Stocks2. NOMURA ASSET MANAGEMENT CO LTD's Top Growth Companies, and3. NOMURA ASSET MANAGEMENT CO LTD's High Yield stocks4. Stocks that NOMURA ASSET MANAGEMENT CO LTD keeps buyingThis article first appeared onGuruFocus. || Bitcoin at $100,000? Crypto Could Steal Market Share from Gold, Analysts Argue: Bitcoinwill continue to take market share from gold as a byproduct ofbroader adoption of digital assets— and possibly due to Bitcoin-specific scaling solutions — leading to a potential $100,000 price, a Goldman Sachs analyst said in a note. Several otherfinancial expertsagree with the bullish view.
See:Reddit Recap: Meme Stocks, Dogecoin, Bitcoin and the Growth of Crypto in 2022Find:Bitcoin Returns Reach Over 70% in 2021, Outperform Gold and Stock Market for Third Straight Year
The World Gold Council estimates that the private sector owns 44,000 metric tons of gold for investment purposes, such as privately-held bars and exchange traded funds (ETFs). This implies that the public owns about $2.6 trillion of gold for investment purposes, Goldman Sachs analyst Zach Pandl wrote in a note sent to GOBankingRates.
By comparison, Pandl wrote that Bitcoin’s float-adjusted market capitalization is currently just under $700 billion.
“Therefore, Bitcoin currently commands a roughly 20% share of the ‘store of value’ (gold plus Bitcoin) market,” Pandl wrote.
Hypothetically, if Bitcoin’s share of the “store of value” market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualized return of between 17 and 18%, according to Pandl.
“Bitcoin may have applications beyond simply a ‘store of value’ — and digital asset markets are much bigger than Bitcoin — but we think that comparing its market capitalization to gold can help put parameters on plausible outcomes for Bitcoin returns,” Pandl added.
Related:Jack Dorsey Says Bitcoin Will Replace the Dollar
Bitcoin outperformed both gold and the stock market for the third year in 2021, as GOBankingRates previously reported.
Bitcoin, hovering around $48,000 as of Jan.5, reached an all time high of $69,000 in November of 2021.
Mark Elenowitz, president of fintech companyHorizon, told GOBankingRates he agrees with the premise that Bitcoin and gold are in competition for the store of value market, and Bitcoin “is undoubtedly winning.”
Bitcoin has seen growth every year since 2018, whereas gold actually lost value in 2021, he said.
“In fact, I believe that Bitcoin could reach a value of $100,000 even faster than the five-year time period the Goldman Sachs team predicted because Bitcoin isn’t just competing with gold as a store of value; it’s also a network with massive network effects and, like tech stocks, grows at an exponential rate,” Elenowitz said.
“Last year alone — a year in which Bitcoin recovered from an attack by China on its mining network — it grew at roughly 75%. That is a great return even during a year when Bitcoin was seen as not growing at its usual, very high rate. In short, Bitcoin is a new and growing kind of asset, and it would be a mistake to put it in the box of being just a store of value.”
Learn:Bitcoin-Backed Mortgage Product To Launch in 2022 Thanks to $70 Million Funding RoundExplore:Valkyrie Launches Balance Sheet Opportunities ETF With Exposure to Bitcoin, Targets ‘Rising Demand for Crypto Investing in an Easy Way’
Brock Pierce, Bitcoin Foundation chairman, echoed this sentiment. He told GOBankingRates that Bitcoin at $100,000 is a very reasonable estimate, “given all that has happened in the past year and the realizations that the Fed will continue to print money — regardless of decisions made around interest rates.”
“More and more people around the world are seeing the inherent properties of Bitcoin as being similar to gold, and in fact superior to gold,” Pierce said.
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This article originally appeared onGOBankingRates.com:Bitcoin at $100,000? Crypto Could Steal Market Share from Gold, Analysts Argue
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 41441.16, 42412.43, 43840.29, 44118.45, 44338.80, 43565.11, 42407.94, 42244.47, 42197.52, 42586.92
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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)]
Bitcoin, Ripple & Litecoin - American Wrap: 11/27/2019: BTC/USD Technical Analysis: Perfect Textbook Technical Pattern Is Very Close To Being In Play
The head and shoulders pattern is one of the most famous in technical analysis.
Now it seems on the 4-hour chart BTC/USD is forming a perfect one.
If the price breaks and closed above 7,400 that will trigger a potential upside target of between 8K and 8,200.
With the head and shoulders pattern the target is based on the pattern length.
XRP/USD Technical Analysis: Ripple breaks higher but can it sustain the move?
As you can see from the chart below the price has recently shot higher.
The 0.2255 level has been used on a number of occasions as a support and resistance level.
The next potential resistance lies at 0.2355 which has been respected on three occasions.
LTC/USD Technical Analysis: This resistance level is hitting the price hard intraday
Looking at the hourly chart below its clear to see that the 47.22 level is giving LTC/USD some trouble.
Bitcoin, on the other hand, has broken higher and maybe this can have a lagging effect on Litecoin.
Longterm. this level was pretty significant back on 23rd October as it was where price found support after a heavy drop.
Image Sourced from Pixabay
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See more from Benzinga
• Bitcoin, Ripple & TRON - American Wrap: 11/26/19
• Bitcoin, Ripple & Litecoin - American Wrap: 11/25/2019
• Bitcoin, Ripple & TRON - American Wrap: 11/19/19
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Hydroelectric power station converted into cryptomining plant: A historic power plant facing demolition has been saved by a cryptomining company. The Old Rainbow Powerhouse on the Missouri River in Montana was built between 1908 and 1910, and made a major contribution to the development of the state’s mining industry and electrification of its railroads. However, the site faced an uncertain future after it stopped operating in 2003. Now it will live on after the Federal Energy Regulatory Commission (FERC) approved an application to convert it into a cryptocurrency mining centre . Cryptocurrencies like Bitcoin can be “mined” using high-powered computers to solve incredibly complex mathematical problems. When computers solve these intricate questions, they produce new coins. The process consumes vast amounts of power , making the process unviable unless miners have access to cheap electricity. Bitcoin on coal An FERC document says the Northwestern Corporation proposed to lease the old powerhouse to California-based firm Susteen for cryptocurrency mining. The document states: “Based on the historic value of the Old Rainbow Powerhouse, a 110-year-old building, and the local community’s desire to preserve it, the licensee has worked with the Committee to identify a viable alternative use for the building that does not conflict with project operations, and is financially viable, safe, and secure. “The licensee filed the subject application requesting Commission approval to lease the Old Rainbow Powerhouse to Susteen for development as a Digital Asset Mining Data Centre. “The proposed data centre would have minimal impact and maintain the historic character of the building.” Susteen is a design solution provider that appears to be venturing into blockchain. The post Hydroelectric power station converted into cryptomining plant appeared first on Coin Rivet . || Craig Wright savaged on stage in Malta: Australian Craig Wright was savaged on stage after continuing his claim to be Satoshi Nakamoto – the founder of Bitcoin – following the closing presentation at the AIBC Summit in Malta this evening. Wright had spent the best part of his expletive-addled 20-minute speech ripping into Bitcoin and blockchain before agreeing to take a question from the audience as he prepared to walk off the stage. The question came from crypto thought-leader Richard Heart who, after a frosty exchange, put a simple enquiry to the controversial entrepreneur: “Okay, so, are you Satoshi?” “Yes,” replied Wright forcibly, triggering a ripple of mocking laughter throughout the auditorium. “So you wrote the Satoshi whitepaper?” Heart pressed. “Yes,” came the reply. Heart pushed further, asking: “And you implemented the one megabyte block limit?” “I put a temporary limit in there after being badgered by Mr Finney,” snapped a visibly irritated Wright. As he paced up and down the stage, the heat was turned up on the barrage of uncomfortable questions from the social media influencer. “So when you got access to the code base and could update the GitHub, and when you had access to your account on Bitcointalk, and when you had access to your Satoshi email, when did you decide you would stop using it to have influence over the project? “And then a side-channel appears later of a broke guy with no successful business interests, no Bitcoin tied to his address, no running from the Australian tax office…” Unable to contain himself, Wright interjected. “Sorry, I’m not running from Australia, I’m in Britain – you know there are extradition laws?” he shouted. “Morons who make things up – that’s called libel and slander! “That’s why I’ve already got a number of people in court – because they’re dumb! They have no idea that you can’t basically be a public figure in Britain and run from the government.” That then prompted the killer line from Heart… “You’re only a public figure because you cosplay as Satoshi, right?” Story continues Luckily for the 49-year-old computer scientist, the summit’s organisers called time on the session by playing the closing music and drowning the heated discussion out. Craig Wright labels Binance’s CZ a ‘lowlife money laundering piece of scum’ By Oliver Knight – November 8, 2019 The post Craig Wright savaged on stage in Malta appeared first on Coin Rivet . || Key Indicator Turns Bullish as Bitcoin Struggles to Break Above $10K: • The three-day chart MACD’s first bullish turn in over three months could bode well for bitcoin’s price, according to historical data. The cryptocurrency may challenge 2019 high above $13,800 before the year’s end.
• The immediate outlook, however, is bearish and prices could drop to $8,800 in the next day or two, with the daily chart reporting buyer exhaustion. Further, China’s state media has asked investors to avoid speculative behavior which could dampen trading.
• A pennant breakout on the hourly chart could yield a re-test of recent highs above $10,000, although that looks unlikely.
A widely-tracked bitcoin (BTC) price indicator has turned bullish for the first time in over three months, hinting that a move to yearly highs lies ahead.
The moving average convergence divergence (MACD) histogram – an indicator used to identify trend reversals and trend strength – has crossed above zero on the three-day chart, confirming a bearish-to-bullish trend change. A positive reading was last observed in the first half of July.
Seasoned traders may argue that the MACD’s bullish turn cannot be trusted, as it is based on moving averages (MAs) which are lagging indicators.
Related:How Lebanon’s Economic Crisis Highlights Bitcoin’s Limitations
While that sounds logical, the histogram has a strong track record of predicting trend changes and big moves, as seen in the chart below.
The MACD crossed above zero in late December 2018, confirming a bottom had been made near $3,100 and remained in the bullish territory throughout the first quarter, even though bitcoin’s recovery rally remained capped above $4,000.
The cryptocurrency broke into a bull market on April 2 with a convincing move above a bearish lower high of $4,236 created on Dec. 24.
Related:Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise
The histogram fell below zero on Nov. 14 as prices breached the long-held support of $6,000. What followed was a sell-off to $3,100.
Going further back, the indicator’s bullish turn in Oct. 2017 was followed by a meteoric rise from $7,000 to $20,000. Meanwhile, a drop below zero in early January 2018 fueled a deeper slide in bitcoin’s price from $13,000 to $6,000.
So if history is a guide, the MACD’s latest bullish turn could see bitcoin breaking out of a four-month falling channel and challenging yearly highs above $13,800 before the year’s end.
Supporting the bullish case is another piece ofhistorical datathat says BTC picks up a strong bid six months ahead of the miningreward halvingdue in May 2020.
So far, however, the MACD’s move above zero has failed to be reflected in price gains. BTC is currently changing hands at $9,470 on Bitstamp, representing a 0.6 percent gain on a 24-hour basis, having faced rejection near the 100-day MA resistance at $9,625 during the Asian trading hours.
Notably, bitcoin failed to close above the 100-day MA for the third straight day on Tuesday, having faced rejection above $10,000 over the weekend. as seen below.
The repeated failure to hold onto gains above the 100-day MA indicates buyer exhaustion. A similar sentiment is echoed by Tuesday’s red candle with a long upper shadow.
As a result, the odds of BTC diving out of the contracting triangle, or pennant pattern, on the hourly chart are high. At press time, the lower edge of the pennant is located at $9,260.
A breakdown, if confirmed, could yield a sell-off to the former resistance-turned-support of $8,820 (formerly a bearish lower high).
On the other hand, a high-volume pennant breakout, if confirmed, would imply a resumption of the rally from Friday’s low near $7,400 and will likely yield a quick break above $10,000.
China’s state mediahas calledinvestors to stay rational and avoid speculative behavior. The warning has come after Monday’s sharp rise in blockchain-related stocks in China.
Investors poured money into bitcoin and blockchain-focused stocks after PresidentXi Jinpingsaid last week that the world’s second-largest economy should accelerate its adoption of the blockchain technology.
The comments by China’s state media may force investors to scale back lofty expectations, leading to a price drop. A pennant breakdown, therefore, looks likely.
The overall outlook would turn bullish if and when the cryptocurrency invalidates the four-month bearish trend,as discussedon Monday.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock; charts byTrading View
• Bitcoin Leads Momentum as Top Cryptos Trade Below Key Price Average
• Bitcoin Price Hits Five-Week High Above $10,000 || Bitcoiners Are Building a Sidechain Version of Ethereum’s MakerDAO: The bitcoin community may soon have its own version of ethereum’s flagship decentralized finance (DeFi) platform.
Money on Chain, a startup currently in the process of moving to Uruguay and converting into a nonprofit trust, just launched a DeFi platform based on the bitcoin sidechain Rootstock (RSK). The transition to a trust mimics MakerDAO’sMaker Foundation, which oversees the governance of a loan system with$330 millionworth of “locked-in” crypto collateral.
While other projects like theCross-Chain Working Groupare exploring ways to wrap bitcoin in ethereum-based tokens for DeFi use, or offer centralized services for takingDAI loanswith bitcoin collateral, this RSK model wants to use an open-source protocol inspired by bitcoin.
Related:Bitcoin Eyes Minor Price Bounce After Hitting Two-Week Low
“We are going to allow other projects to build the DeFi ecosystem on top of bitcoin,” said Money on Chain co-founder Max Cajurzaa. “We are going to launch lending products on top of Money on Chain, but the ecosystem will evolve. Exactly the same as what happened with MakerDAO on ethereum.”
Diego Gutierrez Zaldivar, RSK co-founder and CEO of IOVLabs, said his team is already in talks with MakerDAO to explore bridges between that ethereum-based platform and this new sidechain project.
To be clear, theRSK projectisn’t “based on bitcoin,” it’s more bitcoin-adjacent. The RSK sidechain branches off from the bitcoin blockchain and issues bitcoin IOUs, harnessing the power produced by bitcoin miners but using a separate federation to manage the sidechain.
Zaldivar said there are still 15 projects in the RSK federation, down from 25 founding members in2016, though he declined to specify names. If these federation members turn off their servers, with their built-in nodes, the public RSK protocol will not be able to swap bitcoin IOUs for real bitcoin. However, assuming that scenario doesn’t occur, the RSK DeFi model offers a bridge for locking up bitcoin and redistributing risk.
Related:Square Crypto Bankrolls Star Lightning Developer Known as ‘ZmnSCPxj’
“It’s most important that we can use bitcoin as collateral,” Cajurzaa said.
Like MakerDAO, the Money on Chain ecosystem involves many tokens.
There’s Dollar on Chain (DoC), the dollar-pegged, bitcoin-backed token inspired by DAI; BitPRO (BPRO), which can be used for “passive income” by representing bitcoin fees collected from system users; and Money on Chain tokens (MoC), which are basically voting tokens akin to the Maker Foundation’sMKR.
Cajurzaa declined to specify who the investors are that already hold these governance tokens. Instead, he noted that there will be a more accessible MoC token sale in 2020, with details to be announced in the coming months. In the meantime, Money on Chain is kicking off the DeFi system with DoC and BPRO tokens.
“When you mint DoC you can say you are selling your bitcoin for DoC, because you are not getting the same amount of bitcoin back. That will depend on the exchange rate,” Cajurzaa said. “In the case of BPRO, that could be considered a loan … but on top of DoC you can also have people lending it to other people, to make trades, for example.”
He added the goal of issuing fiat-pegged stablecoins, with more Latin American currency tokens to follow DoC, is to make cryptocurrency easier for businesses to accept regardless of bitcoin’s volatility. For example, the startupdexFreightwill work with DoC.
DexFreight co-founder Hector Hernandez said, “a stablecoin collateralized with bitcoin will enable us to continue building DeFI solutions for the supply chain and will ultimately be a critical driver of mass adoption.”
Unlike the MakerDAO system, where people lock up collateral with a smart contract and expect to get it back, in the RSK system, people expect to get as much bitcoin back as their new tokens can purchase. That might mean even more bitcoin if they trade tokens advantageously, Zaldivar said.
Much like the DeFi projectUniswap, the Money on Chain portal to the protocol geo-blocks jurisdictions with compliance issues, including the United States, India, China and Egypt. After all, issuing a token advertised as offering “passive income” from a specific system operated by these entities might run afoul ofsecurities regulationsin North America.
In part, Zaldivar said, starting with these geographic limitations are fine because this system was designed for Latin Americans, by Latin Americans.
“We want this system to serve the needs of people who aren’t being served by the traditional financial system in Latin America,” Zaldivar said.
• Bitcoin Is Closing on Historically Strong Price Support
• Is Greece Cracking Down on Tax Evasion or Taxing Anonymity? || Bitcoin loses $7,000 support as short-sellers target yearly lows: Bitcoin is once again trading below $7,000 after failing to break above the 22 exponential moving average (EMA) on the daily chart since November 10. It is now residing at the $6,900 level of support, which provided a platform for a relief rally to $7,800 on November 25. However, with long positions on Bitfinex steadily climbing to a new all-time high, a long squeeze could be on the cards which could well drive the price of Bitcoin down to yearly lows. Its worth noting that a corrective move to the downside still hasnt materialised following last months death cross, which saw the 50 EMA cross the 200 EMA in a bearish manner for the first time since 2018. If Bitcoin breaks down from the $6,900 level of support, it could dwindle all the way to $5,900 and $5,500 as the market attempts to assert a balanced price point wherein the amount of buyers matches the amount of sellers. From a bullish perspective, Bitcoin critically needs to break above the $7,650 level of resistance before testing the confluence of the death cross at $8,600. A daily candle close above these two levels would indicate a reversal and establish an important platform for 2020 with the impending launch of Facebooks controversial cryptocurrency Libra. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin loses $7,000 support as short-sellers target yearly lows appeared first on Coin Rivet . || China forms state-backed blockchain alliance: China is forming a state-backed blockchain alliance featuring a number of major cryptocurrency and financial companies, according to reports. Huobi China is one of the first big names to join the Blockchain Services Network Alliance (BSN). The cryptocurrency firm was unveiled as a member during the recent Blockchain Service Network Partner Conference, which was sponsored by the National Information Centre (NIC), China UnionPay (the countrys equivalent to Visa), and China Mobile. It is believed that the alliance will look to develop and implement a national blockchain service infrastructure which spans across public networks, regions, and institutions, according to local media outlet Xinhua . The network has been planned by top-level employees at the NIC and is being independently developed by China UnionPay and China Mobile. The blockchain service network can effectively reduce the threshold of blockchain application and facilitate the rapid promotion and application of blockchain technology, said Lin Yunan, director of the NIC. Other members of the alliance include China Telecom, China Merchants Banks International, and Weizhong Bank. The news follows a recent trend of positive sentiment towards blockchain technology in China, with President Xi Jinping recently announcing blockchain will be vital for the countrys future. Shortly after, a state-run newspaper ran a cover article on Bitcoin. While the piece was swift to point out the negatives of BTC, it sung the praises of the underlying blockchain technology. Interested in reading more China-related stories? Discover more about KPMG launching a blockchain platform in China, Japan, and Australia. The post China forms state-backed blockchain alliance appeared first on Coin Rivet . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/12/19: Bitcoin Cash ABC rose by 2.49% on Thursday. Reversing a 1.40% fall from Wednesday, Bitcoin Cash ABC ended the day at $212.21.
A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $205.57 before finding support.
Steering clear of the first major support level at $201.19, Bitcoin Cash ABC rallied to a mid-afternoon intraday high $213.80.
In spite of the bounce, Bitcoin Cash ABC came up short of the first major resistance level at $215.86, leading to a slide back to sub-$210 levels.
Late support from the broader market led to a return to $212 levels, however, and a solid gain for the day.
At the time of writing, Bitcoin Cash ABC was up by 0.64% to $213.56. A mixed start to the day saw Bitcoin Cash ABC fall to an early low $210.99 before striking a high $213.56.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $214 would support a run at the first major resistance level at $215.48.
Bitcoin Cash ABC would need support from the broader market, however, to break out from Thursday’s high $213.8.
Barring a broad-based crypto rally on the day, Bitcoin Cash ABC would likely come up short of the second major resistance level at $218.76.
Failure to move through to $214 levels could see Bitcoin Cash ABC hit reverse. A fall back through the morning low to sub-$210.50 levels would bring the first major support level at $207.25 into play.
Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of the second major support level at $202.30.
Litecoin rose by 0.31% on Thursday. Reversing a 0.36% fall from Wednesday, Litecoin ended the day at $44.84.
Tracking the broader market, Litecoin slid to an early morning intraday low $43.72 before making a move.
Steering clear of the first major support level at $43.21, Litecoin struck a mid-day intraday high $45.22.
Falling short of the first major resistance level at $46.67, Litecoin slid back to an afternoon low $44.02 and into the red.
Litecoin found late support from the broader market, however, to close out the day in the green.
At the time of writing, Litecoin was up by 0.11% to $44.89. A mixed start to the day saw Litecoin fall to an early morning low $44.51 before rising to a high $44.97.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high would support a run at the first major resistance level at $45.47.
Litecoin would need the support of the broader market, however, to break out from Thursday’s high $45.22.
Barring a broad-based crypto rally, Litecoin would likely fall short of $46 levels for a 2ndconsecutive day.
Failure to move back through the morning high could see Litecoin come under pressure. A fall back through to sub-$44.60 levels would bring the first major support level at $43.97 into play.
Barring a crypto meltdown, Litecoin should continue to steer clear of sub-$42 levels. The second major support level at $43.09 should limit any downside.
Ripple’s XRP rallied by 3.53% on Thursday. Reversing a 2.52% slide from Wednesday, Ripple’s XRP ended the day at $0.22289.
A choppy start to the day saw fall to an early morning intraday low $0.21278 before finding support.
Steering well clear of the first major support level at $0.2084, Ripple’s XRP rallied to a late intraday high $0.22722.
Ripple’s XRP broke through the first major resistance level at $0.2247 before easing back to sub-$0.2240 levels.
At the time of writing, Ripple’s XRP was up by 0.78% to $0.22462. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22251 to a high $0.22519.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move through to $0.2260 levels would support a run at the first major resistance level at $0.2291.
Support from the broader market would be needed, however, for a breakout from Thursday’s high $0.22722.
Barring an extended rally on the day, the first major resistance level would likely leave Ripple’s XRP short of $0.23 levels.
Failure to move through to $0.2260 levels could see Ripple’s XRP hit reverse.
A fall through the morning low $0.22251 would bring the first major support level at $0.2147 into play before any recovery.
Barring a crypto meltdown, however, Ripple’s XRP should continue to steer clear of sub-$0.21 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/12/19
• Gold Price Prediction – Gold Consolidates Despite Falling US Dollar || SEC, CFTC Charge XBT Corp. With Selling Unregistered Swaps for Bitcoin: U.S. regulators filed charges against XBT Corp. Thursday, alleging the company failed to register as a futures commission merchant (FCM).
In simultaneous press releases, theCommodity Futures Trading Commission(CFTC) and theSecurities and Exchange Commission(SEC) alleged that XBT, otherwise known as First Global Credit, sold security-based swaps for bitcoin without registering on a national exchange.
According to the charges, XBT solicited or accepted futures orders from 24 U.S. customers between March 2016 and July 2017, accepting bitcoin for margin trades. The company did not register as an FCM during this time.
Related:Bitmain Seeking US IPO With Confidential SEC Filing: Report
XBT had overall at least 90 investors, who conducted more than 18,000 security-based swaps between 2014 and 2019, conducting more than $100 million in transactions “based on U.S.-listed securities,”according to a legal filing. Of that, $43.8 million in trades were made by U.S. residents.
The company will pay more than $130,000 in fees and disgorgement as part of the settlement, with the SEC taking custody of the funds over the next year. The CFTC’s press release states that the agency “recognizes that FGC’s civil monetary penalty in this matter was substantially reduced in light of FGC’s cooperation and remediation.”
XBTrolled First Credit out in October 2014, offering “contract for difference” (CFD) derivatives products allowing customers to deposit bitcoin in turn for purchasing credits representing shares in companies such as Apple.
The U.S. FBI and Swiss Financial Market Supervisory Authority (FINMA) participated in the investigation, according to the releases.
Related:SEC Blasts Kik’s ‘Void for Vagueness’ Defense of 2017 ICO
XBT did not immediately respond to a request for comment.
SECimage via Shutterstock
• Paxos Wins SEC ‘No-Action’ Letter to Settle Equities on a Blockchain
• US Financial Regulators Join UK FCA’s ‘Global Sandbox’ || Skrill Extends Footprint with New Crypto-to-Crypto Feature: Skrillhas announced a new crypto-to-crypto buy and sell service for its users. After launching a fiat-to-crypto on-ramping feature for users of its payment platform last year, this latest move represents a further reach into the cryptocurrency space for the London-based payments firm. With the introduction of crypto-to-crypto transfers, Skrill users will have access to faster and lower-fee transactions across their digital asset portfolio on the platform.
Skrill’s first foray into the cryptocurrency business came in 2018 when it launched a buy-and-sell service for its customers, enabling them to exchange their fiat account balances for cryptocurrencies. Before this latest development, if a Skrill user wanted to switch from, say, Bitcoin to Ether, they’d have to convert their BTC back to fiat and then buy some ETH.
Skrill CEO Lorenzo Pellegrino recently gave aninterviewin which he underlined his company’s commitment to making cryptocurrencies more accessible to users. Speaking of the new crypto-to-crypto buy and sell service, he stated:
“Cryptocurrency is an important part of what we do in digital wallets, and using our scale and vast experience of the payments industry, we’re continually enhancing our service to help our customers get the most out of the crypto ecosystem.”
[caption id="attachment_793420" align="aligncenter" width="750"]
Lorenzo Pellegrino, Skrill’s CEO, believes that crypto is starting to “rock the boat”, releases crypto to crypto offering on Skrill.[/caption]
The new service means they can buy ETH using their BTC balance, so they only pay fees for a single transaction. Currently, only BTC pairs are available via the service, but Skrill has said it expects to add more pairs soon.
The company has recently launched another new feature on its platform in the form of a loyalty program called Knect. Users can accrue points by using their Skrill wallet or prepaid credit card. Points are tradeable for a wide range of rewards, including cryptocurrencies on the Skrill platform.
Increasing Interest in Crypto from the Payment Sector
Skrill’s news is the latest from the online payment sector’s increasing interest in cryptocurrencies. The most high-profile this year has been PayPal (NASDAQ: PYPL)’s well-documented inclusion in the Facebook’s (NASDAQ: FB) Libra Association. However, the company turned its back on the project earlier this year. At the time, PayPal’s (NASDAQ: PYPL) statement was vague, saying only that it was choosing to focus on its own core business, but that it remained supportive of Libra’s goals. Many news outlets werequick to make the linkwith the increasing regulatory scrutiny the project was facing, particularly after other payment firms followed PayPal (NASDAQ:PYPL).
Recently though, PayPal (NASDAQ: PYPL) CEO Dan Schulman gave aninterviewto Fortune in which he elaborated further on his firm’s reasons for pulling out of Facebook’s (NASDAQ: FB) Libra project. He reiterated that PayPal (NASDAQ: PYPL) was choosing to focus on its own roadmap and intriguingly, alluded to the company’s R&D work in the blockchain space, highlighting identity as a specific use case.
Schulman’s interview came a day after it wasreportedthat his firm had led a $4.2 million funding round for blockchain firm, TRM Labs. The company is aimed at helping financial institutions manage the compliance risks around digital asset investments and transactions. So it seems that we can expect more news from PayPal (NASDAQ:PYPL) in regards to its future involvement in blockchain and cryptocurrencies.
In other news, one of Skrill’s rival UK payments firms, TransferGo, has also recentlyconfirmedit plans to migrate to Ripple’s payment rails by early next year.
Disclosure: None.
[Random Sample of Social Media Buzz (last 60 days)]
Este ha sido el rendimiento de esta pasada semana con el arbitraje de criptomonedas.
Únete a través de https://t.co/acsx4XbrCe
#bitcoin #crypto #Arbistar #criptomonedas #winwin #MLM #marketingmultinivel #negocios #business #ventadirecta #directselling #mercadeoenred https://t.co/i0cXJUMyem || Analysts Expect Further Losses as Bitcoin Forms EMA Bear Cross https://t.co/pwgfhglTum #bitcoin || https://t.co/4pEpb20XJq #cybersecurity #sale #dubai #venture #honolulu #funding #brazil #bitcoinrussia #venturecapital #techcrunch #deals #blockchain #iconomi #sydney #dubai #singapore #bitcoin #dallas #tokenlaunches #avcj #tech #canberra #ico || ✌️👎😆😎 || Mt. Gox Bitcoin Stays Put: Claims Deadline Pushed Back to Spring 2020 https://t.co/FK9pWWRsLb || I call for max 10k per BTC on the 15th of November at 6 PM UTC. I am bearish for this year @PrimeXbt #Competition1000USD @khp3285 @FLYINMINI || Time to sell ONT for : 0.00476345 BTC in HitBTC Date: 2019-11-12 21:09:41 || @phamcongduc547 @hoangquanghun12 @lequoct51309047 || $BTC
As I was expectig it's weakening my target is 8240 ore 7300 https://t.co/KCIppTLkVp || high school students will study Bitcoin and cryptocurrency https://t.co/ubdKdj5jUe https://t.co/N1hkX5ouCN
|
Trend: down || Prices: 7355.63, 7322.53, 7275.16, 7238.97, 7290.09, 7317.99, 7422.65, 7293.00, 7193.60, 7200.17
|
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 2020-06-05]
BTC Price: 9665.53, BTC RSI: 55.28
Gold Price: 1676.20, Gold RSI: 42.72
Oil Price: 39.55, Oil RSI: 67.86
[Random Sample of News (last 60 days)]
Bitcoin, Ethereum & Litecoin - American Wrap: 4/15/2020: Bitcoin Price Analysis: New Elliott Wave Predictions Put Targets Near 6K Bitcoin has had a tough few sessions this week falling from a high of 7,466 to around 6,750 where the price is today. It had been worse at one stage when the pair was trading at 6,555 and now that level is the support target for the bears. If that wave low does break to the downside then there are some Fibonacci expansion targets to watch. The 261.8% and 38.2% extension confluence pretty close to the 6K area. Often when Fib zones match up with round numbers they can act as a magnet for price. Ethereum Price Analysis: ETH/USD At Risk Of A $100 Return Ethereum price is trading in the red by 0.95% on Wednesday. ETH/USD is moving within a very tight range block, subject to a breakout. The price to move into a definitive trend needs to break down $200 to the upside, or $150 to the downside. Litecoin Price Forecast: LTC/USD Largely At Risk Trading Underneath Bearish Flag Litecoin price is trading in negative territory by 2.30 % in the session on Wednesday. LTC/USD is moving within a narrowing nature, sitting just above critical support at $40. The coming range breakout will likely be trend defining, with risks tilting to the downside. Image sourced from Pixabay See more from Benzinga Bitcoin, Ethereum & Litecoin - American Wrap: 4/14/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 4/13/20 Bitcoin, Ethereum & Litecoin - American Wrap: 4/9/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || It’s Tough Getting Approved in Gibraltar, Says Green-Lighted Crypto Derivatives Exchange: Receiving regulator approval to operate in Gibraltar is anything but easy, crypto derivatives exchange ZUBR told CoinDesk.
ZUBR, which began trading in March, said Wednesday it had received in-principle approval from the Gibraltar Financial Services Commission (GFSC) as a Distributed Ledger Technology (DLT) provider. The approval is on the condition the exchange addresses some of the regulator’s feedback by the time it gets its license.
But just getting to this point has proven difficult.
Related:Russia Is About to Drop the Crypto ‘Iron Curtain,’ Industry Warns
“From day one we realized 100 percent…that we would have to sacrifice a lot to get into the regulated space,” co-founder Oleg Ravnushkin said. Even before the regulator provided feedback, ZUBR capped its maximum leverage at 20x and introduced high entry barriers to ensure it only served professional, not retail, clients.
The GFSC hasoffered DLT licensessince the beginning of 2018. Based on nine very general principles – includingone clausethat an applicant “must conduct its business with honesty and integrity” – the license provides a broad-stroke and flexible regulatory framework for any activity that comes under the umbrella of DLT, such as to transmit or store value on behalf of others.
Around a dozen companies have a Gibraltar DLT license, including theblockchain subsidiaryfor the Gibraltar Stock Exchange. Ravnushkin said there’s probably another 12 more entities going through the application process, alongside themselves.
See also:Crypto Derivatives Platform Gets Nod From London Stock Exchange’s Software Tester
Related:Number of Bitcoins on Crypto Exchanges Hits 18-Month Low
Nine principles may seem like an overly simplistic framework, but ZUBR disagrees.
“It took us a preliminary application to go through to a full application stage; to go through to a set of interviews with key [GFSC] personnel, [then] a set of presentations of our business model and a number of rounds of follow-up discussions and additional requests made by the regulator to have clarity on very specific questions,” ZUBR’s chief legal officer, Olga Okuneva, said.
“It’s not that straightforward to just come and get a Gibraltar license…[Y]ou cannot just, you know, switch to Gibraltar,” Ravnushkin said. “We had to be comfortable with a lot of additional, you know, checks and outsourcing providers to make sure that the trading was transparent and that the market structure was solid so there’s no manipulation whatsoever.”
“It’s going to be 10 principles pretty soon,” he added.
Neither Ravnushkin nor Okuneva described the regulatory feedback as “changes,” but rather “more of a fine-tuning of something we have discussed thoroughly with the regulator,” Okuneva said.
Ravnishkin said this could include relocating more of their staff to Gibraltar, but added: “I cannot obviously comment on the exact nature of this.”
See also:Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise
But Ravnishkin confirmed none of the changes will affect its core business model. That’s probably a relief. ZUBR forked out £30,000 (~US$37,000) just for the application fee for the category three license, which covers companies dealing with complicated assets, including crypto derivatives.
Having first submitted its license more than 12 months ago, Ravnushkin reckons ZUBR will still have to wait for a few months before it receive its full license.
“We’d love to have it tomorrow,” he said.
• India’s Central Bank Removes Lingering Confusion Over Banking for Crypto Firms
• Telegram Quits Court Fight With SEC Over TON Blockchain Project || The best VPNs to protect yourself from hackers.: Yahoo Lifestyle is committed to finding you the best products at the best prices. We may receive a share from purchases made via links on this page. Pricing and availability are subject to change. Guard against prying eyes with a reputable VPN. (Photo: Getty Images) A VPN (or virtual private network) can do everything from outsmart hackers to allow you to access additional movies and TV shows. A VPN basically hides your identity and activity online. Think of it as an encrypted tunnel that covers the data you’re sending and receiving—no one can see into the tunnel but you, not even your ISP (internet service provider)—or the VPN itself. Without a VPN, anyone can view what you’re doing and track your whereabouts. Need proof? Visit WhatIsMyIPAddress.com —if your IP address shows up, your location is easily available to creepers who can access your favorite websites, passwords, personal info, and credit cards. A VPN also comes in handy for when you’re using public Wi-Fi, like at a coffee shop or library. Another great benefit of a VPN is that you can watch Netflix shows streaming in other countries like Canada, Australia, or Hong Kong. Bring on the binge-watching. Just know that a VPN won’t be as speedy as what you’re used to, but it’ll be fast enough to stream and enjoy a ton of Netflix options. We rounded up the seven best VPNs below. ExpressVPN One of the fastest VPNs out there. (Photo: ExpressVPN) With fast speeds and more than 3,000 servers in 94 countries and regions, ExpressVPN is a beast. You’ll find a list of recommended servers in places like Canada, the United Kingdom, Germany, and Switzerland, plus options for India, Iceland, Pakistan, The Philippines, Israel, Kenya, and more. Check out the full list of servers here . ExpressVPN is available for Windows 10, MacOS, Linux, iOS, Android, ChromeOS, plus Chromecast, Roku, Fire TV, PS4, Xbox One, and more. It can work on five devices at the same time—see the list of supported devices here . Cost: There are various plans: $13 a month; $60 for six months; or $100 for 15 months (was $194). There’s a 30-day money-back guarantee. You can even use Bitcoin as payment to remain anonymous. Story continues Shop it : ExpressVPN, expressvpn.com CyberGhost The whole family can watch different things at the same time. (Photo: CyberGhost) CyberGhost is so powerful that it can support up to seven devices at once, making it great for families. It’s on the lower end of the spectrum, price-wise, and offers connectivity to 89 countries, including Australia, Brazil, India, Japan, and Nigeria. Check out a full list of countries here . Compatible with Windows 10, macOS, and Linux, it also works with Chrome and FireFox. For mobile, Android and iOS are fully supported, but it’ll only work with Xbox (sorry PlayStation fans). It’s also available for Roku, Chromecast, Fire TV, Apple TV, Android TV, and select smart TV brands, like LG and Samsung. Cost: $3 per month for a three-year subscription. You can also go month-to-month, for $13 a month. There’s a 45-day money-back guarantee. Shop it : CyberGhost, cyberghostvpn.com VyprVPN Stream safely with VyprVPN. (Photo: VyprVPN) VyprVPN touts itself as the safest and most secure service, thanks to its proprietary Chameleon Protocol, which encrypts all data while hiding the fact that you’re even using a VPN. This means it’s ideal for those living in or visiting countries with strict censorship laws. It can successfully unblock Netflix in Canada, Germany, the United Kingdom, and more; check out a full list of streaming services here . Working with up to five devices at once, VyprVPN is compatible with Windows 10 and macOS. It also works with Android and iOS mobile devices, plus Android TV and Apple TV. See all the supported smart TVs here . Cost: Packages start at $2.50 per month for a two-year subscription (billed as $60). You can also go month-to-month, at $13 a month. There’s a 30-day money-back guarantee. Shop it : VyprVPN, vyprvpn.com PureVPN Try PureVPN for seven days for just $1. (Photo: PureVPN) While PureVPN isn’t as fast as ExpressVPN or NordVPN, it features a lot of customization settings—such as, additional Firewalls, dedicated IP addresses and dedicated VoIP (Voice-over Internet Protocol) servers for internet calling—that suit just about anyone—whether you’re a casual or pro web user. You can watch Netflix, Hulu, HBO Now and the BBC iPlayer internationally—thanks to PureVPN’s 2,000+ servers in more than 180 locations in over 140 countries around the world. Click here for a list of countries and locations available. The service supports Windows 10, macOS, Linux, Android, iOS, iPadOS, Fire TV and Android TV via the PureVPN app. It also supports Chromebook, Chromecast, Xbox One, PS4, Apple TV, Roku and others through manual set-up. PureVPN offers 24/7 support to walk you through the process of setting up your devices, if necessary. Click here for a complete list of supported devices. Cost : If you’re a first time user, score a seven-day trial for just $1. If you keep the service, it’s about $6 per month—which is 47 percent off the $11 per month standard plan. The VPN service also accepts cryptocurrency for additional privacy. Shop it : PureVPN, purevpn.com Ivacy VPN Get more out of Netflix without spending a fortune. (Photo: Ivacy) Want the most budget-friendly option? Try Ivacy VPN for just over a $1 month. Speeds are solid, but not as fast as ExpressVPN, NordVPN, or CyberGhost. This is due to its small server count—21 locations in 17 countries like Australia, China, and the United Kingdom; here’s the full list. You’ll be able to stream things like Netflix, Hulu, Amazon Prime Video, and BBC iPlayer. Like most major VPNs, Ivacy doesn’t track online activity but it does collect your name, email, payment method, app crash reports, and diagnostics, plus Google Analytics info (others in this list don’t). Ivacy supports most platforms, including Windows 10, macOS and iOS, Android, Linux, Roku, PS4, and Xbox One, plus Kodi and Raspberry Pi. Cost: $1.16 a month for a five-year subscription (billed as $70) or $10 a month for month-to-month. The service takes cryptocurrency. Shop it : Ivacy VPN, ivacy.com TunnelBear VPN The cutest VPN available (Photo: Tunnelbear VPN) TunnelBear is probably the cutest VPN available with their bear mascot featured throughout the service. The VPN’s bear is not just cute, but it’s also a great visual cue to how a VPN works. You can plainly see the bear tunnel underground and later pop its head out in the country where you want to mask or hide your IP address on a digital map. How clever. The VPN service provides speedy connectivity with servers in 23 countries from around the world. This means you can browse the internet, as if you were in Germany, Italy, Singapore, Brazil, India and more, while you can keep your data safe from being hacked or stolen when surfing the web. Unfortunately, you might run into roadblocks, if you try to stream Netflix, Amazon Prime Video, BBC iPlayer or Disney+ with TunnelBear . It seems like some streaming services are just too much for this VPN to handle. However, YouTube appears to be unblocked in most regions and countries, so we recommend TunnelBear , if you’re a YouTube-only user. Otherwise, the other VPN services on this list could be a better fit for you. Cost : Right now, you can get a one-year subscription to TunnelBear VPN for just $20, or $40 off at Amazon. This is a 67 percent savings, which is lower than how much the VPN is from TunnelBear itself. But, if you want to go month-to-month, the VPN service goes for $10 per month, or $3 per month for a three-year subscription. Shop it : TunnelBear VPN, $20 (was $60), amazon.com NordVPN This VPN offers the best bang for your buck. (Photo: NordVPN) NordVPN is the way to go if you’re on a budget but still want one of the most popular VPNs. The service works in 59 countries and regions; find the full list of locations here . And it supports six devices at a time. NordVPN supports Windows 10, MacOS, ChromeOS, and Linux, as well as mobile devices for Android and iOS. It works with Android TV devices, but doesn’t support Roku, Chromecast, Apple TV, or Fire TV. Cost: The best deal is $3.50 per month for a three-year subscription—that’s an upfront cost of $126. You can also get a one-year subscription for $7 a month or two years for $5 a month, or go month-to-month for $12 a month. There’s a 30-day money-back guarantee. Shop it : NordVPN, nordvpn.com Read More from Yahoo Lifestyle : eBay just slashed $150 off Bose’s most popular noise-canceling headphones—get them for just $200 From 'Contagion' to '28 Days Later:' 10 pandemic movies that are worth streaming right now Everyone's baking bread, but there's no 'regular' flour left—here's a solution Follow us on Instagram , Facebook , Twitter , and Pinterest for nonstop inspiration delivered fresh to your feed, every day Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter. || DMG Purchases Additional 1,000 M30s State-of-the-Art ASIC Miners: Highlights:
• DMG adds 90 petahash towards its stated 2020 year-end goal of 500 petahash of self-mining
• DMG used the previously offered $2M available for financing this new mining equipment
• Once energized, this deployment will increase DMG’s latest mining technology to 110 petahash
VANCOUVER, British Columbia, May 27, 2020 (GLOBE NEWSWIRE) --DMG Blockchain Solutions Inc.(DMGI.V) (DMGGF:OTC US) (6AX.F) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce that that it has ordered an additional 1,000 M30s miners.
Successful bitcoin mining relies on both cost and operating efficiencies as well as utilizing the latest available ASIC technology. The Company has more than 240 M30s currently self-mining for DMG and is also hosting an additional 260 M30s for clients. The miners are operating above DMG’s expectations. This purchase was facilitated by the equipment financing previously announced on April 7, 2020, and represents the remaining amount offered to DMG under this non-dilutive financing.
Dan Reitzik, DMG’s CEO commented, “Our stated goal for self-mining in 2020 is 500 petahash of latest ASIC mining technology. This deployment will add approximately 90 petahash to our existing fleet. We will continue to deploy more self-mining as opportunities arise. The new fleet is expected to be energized by mid-June 2020. The recent volatility in Bitcoin (“BTC”) prices demonstrate why industrial miners need to constantly deploy the most efficient technologies. Our newest miners are very efficient, even at the current depressed BTC price.”
Sheldon Bennett, DMG’s COO added, “Having the ability to finance new mining technologies greatly expedites our expansion plans for self-mining. Aggressively adding petahash using equipment financing options is key for our growth strategy.”
About DMG Blockchain Solutions Inc.
DMG is a diversified cryptocurrency and blockchain platform company that is focused on the two primary opportunities in the sector – mining public blockchains and applying permissioned blockchain technology. DMG focuses on mining bitcoin, providing hosting services for industrial mining clients, earning revenues from block rewards and transaction fees, developing data analytics and forensic software products, working with auditors, law firms, and law enforcement to provide technical expertise. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry, with previous experience working at Bitfury, PwC, EY, Cisco and UBS.
For more information on DMG Blockchain Solutions visit:www.dmgblockchain.com
On behalf of the Board of Directors,Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Investor Relations: John MartinToll Free: 1-888-702-0258Email:investors@dmgblockchain.comWeb:www.dmgblockchain.comDirect: 778-868-6470
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the Company’s plans to increase petahash (PH) by self-mining, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. || Blockchain Bites: Introducing the CoinDesk 50 and a Roadmap to Consensus: Distributed: The CoinDesk 50 Congratulations to the inaugural CoinDesk 50. This new list features the most important, innovative and viable projects in the crypto and blockchain industry. In just 11 years, cryptocurrency and its underlying technology has made serious in-roads, promising to reinvent how the world transacts, how the internet will function and how to more equitably distribute resources. CoinDesk has been covering this varied space for seven intense years. Today, we’re honored to present the first 10 protocols, companies and projects we believe have or will have the greatest impact, not only on the industry, but the world at large. This includes billion-dollar corporations like Binance and Coinbase, but also aspirational projects like Cosmos. We will be releasing the full CoinDesk 50 leading up to, and during, Consensus:Distributed, our free virtual event that starts May 11. (See how we made the choices .) Your Guide to Consensus: Distributed Speaking of Consensus, Blockchain Bites will be your guide as the crypto industry’s largest and most ambitious conference goes distributed. For the five days of Consensus: Distributed, your trusted source of daily crypto updates will double its output. Beginning May 11, Blockchain Bites: Consensus Edition will hit your inbox by 7:30 a.m. ET and then reappear at 5.30 p.m. ET, providing an agenda settings schedule as well as recap of the daily happenings. Every morning edition will feature a special guest appearance from CoinDesk journalists, who will highlight the panels they’re excited about and reflect on what they’ve learned so far. With 300 speakers, 10,000+ attendees and content streaming 24/7, there will be a lot to talk about. Related: First Mover: Search Interest in Bitcoin’s Halving Reaches Fever Pitch as Price Hits $10K For starters, there will be a keynote address by influential economist Carlota Perez , performances from Akon, Haley Smalls, and Skip Marley as well as interactive workshops where you can get your hands on some cryptocurrency. You can also take a walk through Decentraland and tune into CoinDesk TV , a round-the-clock live programming event streaming on CoinDesk.com, YouTube and Twitter from Monday, May 11, at 8:30 a.m. ET to Tuesday, May 12, at 9 a.m. ET. Story continues We hope to see you online, happy, healthy and ready to get engaged at Consensus: Distributed . Register here. Now to the news: Voting Pilot Democrats in the Ohio House of Representatives have proposed launching a blockchain voting pilot for overseas military voters registered in the state. The bill was introduced Tuesday as part of the Democrats’ elections law overhaul. If passed, it would see military members transmit their ballots to election officials via “encrypted blockchain technology” that “protects the security and integrity of the process and protects the voter’s privacy.” The receiving board of elections would then print out that ballot “for counting purposes.” HSBC to Libra The Libra Association has named HSBC Chief Legal Officer Stuart Levey as its first chief executive. Joining late this summer, Levey will oversee the association’s efforts to “combine technology innovation with a robust compliance and regulatory framework.” He has been at HSBC since 2012. Related: The Changemaker: Glen Weyl Puts His Radical Ideas Into Action Cash App: Revenues and Profits Cash App saw first quarter revenues from bitcoin of $306 million, a quarterly high for the firm, surpassing all other revenue streams. Profits on its Bitcoin business, however, are minimal at $7 million in Q1, and $8 million through the whole of 2019. Enter New York Eris Clearing, the clearing and settlement arm of ErisX, has been awarded a Virtual Currency License from New York’s Department of Financial Services. Colloquially known as a “BitLicense,” having received one, the company is licensed to operate in the state. Enter Europe TokenSoft is bringing its security token issuance platform to Europe through a Switzerland-based counterpart, TokenSoft International AG. The regulated STO platform announced Wednesday that it struck a licensing deal with its eponymous European partner, who now has exclusive continental distribution rights for TokenSoft’s tokenization software. Noding Off Despite recent surges in price and mining power, Bitcoin’s total node count fell below 47,000 on Monday, a three-year low, according to developer Luke Dashjr. This trend is confirmed by Bitnodes’s data, which also a spike in nodes using onion services that may make node operators more difficult to locate. Peaking at over 200,000 in January 2018, node operators validate new transactions and store copies of the network’s shared transaction history. New Messaging There is a new messaging standard designed to help cryptocurrency firms comply with anti-money laundering regulations from the Financial Action Task Force (FATF). The standard, called IVMS101, defines a uniform model for data that must be exchanged by virtual asset service providers alongside cryptocurrency transactions. The standard will identify the pseudonymous senders and receivers of crypto payments, with such information “traveling” with each transaction. Polkadot Designs a Launch Plan The Polkadot network is “very near launch,” founder Gavin Wood said. Guided by the Web3 Foundation and Parity Technologies, Polkadot, an interoperable blockchain that will allow transactions across multiple chains, will roll out through five or six phases. Icy Goodbye? Former Bakkt CEO Kelly Loeffler reportedly received $9 million worth of stock and other awards from parent company Intercontinental Exchange (ICE) when she was appointed to the U.S. Senate from Georgia. Abra $5K-dabra The Stellar Development Foundation is pumping $5 million into Abra, a crypto financial services app. The foundation’s largest enterprise investment yet precedes Abra’s integration with the Stellar blockchain. Mining Map Researchers at Cambridge University’s business school have created a Bitcoin Mining Map to visualize global hashrate data by country, and more granular data for Chinese provinces. The map shows China provides 65% of Bitcoin’s total mining hashrate, while the U.S. and Russia lag behind at 7%. Monsoon Coming? One of Asia’s largest crypto exchanges by trade volume, OSL, has teamed with enterprise startup Monsoon Blockchain. The partnership may allow for an eventual US expansion. Private Cosmos The nonprofit Zcash Foundation is building a way to bring the privacy coin Zcash onto the interoperable Cosmos ecosystem. ( Decrypt ) Zcash Report Zooko Wilcox hired the Rand Corporation to suss out whether the privacy crypto zcash he shepherds is really the darkweb’s go-to currency. The report says it isn’t, bitcoin is. But there is room for skepticism. Europol and Chainalysis have previously released reports showing Zcash gaining in popularity among criminal elements. You can read the report here , and about the debate here . Ethereal Goes Virtual The Ethereal Summit, a free virtual conference, has kicked off today. One hundred speakers will stream over the course of two days. Watch here. CoinDesk Live: Lockdown Edition CoinDesk Live: Lockdown Edition continues its popular twice-weekly virtual chats via Zoom and Twitter, giving you a preview of what’s to come at Consensus: Distributed, our first fully virtual – and fully free – big-tent conference May 11-15. Register to join our seventh and final session Thursday, May 7, with speaker Felipe Duarte from DAOCanvas to show you how to roll your own DAO, hosted by Consensus organizer Bailey Reutzel. Zoom participants can ask questions directly to our guests. Market Intel It’s Bitcoin, Not You Bitcoin looks to have decoupled from traditional markets as investors refocus on the network’s imminent mining reward halving. Bitcoin gained nearly 5.9% so far this month, while gold has declined by 1% and the S&P 500 is down 2.2%, on a month-to-date basis, as of Wednesday. Halving Soon Bitcoin’s halving is now predicted to come hours sooner. The cryptocurrency’s price rally above $9,000 has caused some miners to switch to more efficient mining machines, thereby accelerating the speed at which new blocks of data are confirmed and pushing up the time of the anticipated halving event. Read the full First Mover newsletter here. Volatile Estimates Bitcoin’s options market may be underpricing cryptocurrency’s future volatility. Analysts say the data is being distorted by “Black Thursday’s” 40% drop. The spread between bitcoin’s three-month implied volatility (IV), the market’s expectation of how risky or volatile an asset will be in the future, and historical or realized volatility (RV) fell to -47% on Wednesday. CoinDesk Monthly Review: April 2020 CoinDesk Research’s monthly review of crypto markets overviews returns, volatility and correlations of bitcoin, ether and other crypto assets – all in a macro context. Plus, we track growth in stablecoins and look at what past halvings can tell us about the upcoming one. The report is free to download . The Pod Surveying the Carnage NLW examines how real estate, travel and music are faring during the COVID-19 crisis on the latest episode of The Breakdown. Who Won #CryptoTwitter? Related Stories How We’re Raising the Virtual Bar at Consensus: Distributed The CoinDesk 50: Binance Eyes the Whole Pie || Latest Bitcoin price and analysis (BTC to USD): Bitcoin endured a surprisingly volatile Easter weekend as it traded within a 10% range between $7,300 and $6,570. As of Tuesday morning it is trading firmly in the middle of that range, with price being lured back towards the $6,800 mark. Bitcoin continues to present a number of bullish cases on both lower and higher time frames, the first of which would be a breakout above the $7,400 level of resistance before next month’s halving event. The next test would be taking out the daily 200 moving average, which is currently in confluence with the $8,080 level. However, from a higher time frame perspective Bitcoin needs to avoid closing daily and weekly candles beneath the diagonal trendline dating back to 2017, which is now at around $4,500. A break below this level would indicate a transition into a bearish phase in the market, with downside targets continuing to emerge at $1,800 and $1,150. Another point of resistance to the upside is at around $9,400 as it connects to the diagonal trendline dating back to December 2017, which has not been broken for more than two years. Regardless of whether the halving has the desired impact on price action remains to be seen, but from a short-term perspective the trend is absolutely bullish with Bitcoin being 71.68% up since the turn of the year despite economic instability driven by the Coronavirus. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. Story continues The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. || NBA: Spencer Dinwiddie raising $25M, let fans choose next deal: Spencer Dinwiddie is once again trying to get fans involved in his contract. The Brooklyn Nets guard announced a plan on Friday night that would allow fans to choose where in the league he signs a one-year deal if they can raise about $24.6 million in Bitcoin on GoFundMe . He cant be a free agent until after the 2020-21 season. Shoe companies and endorsers influence team decisions all the time, Dinwiddie said in a statement, via The Athletics Shams Charania . My/our biggest endorsers will always be the fans, so I want to have some fun with this while were all under quarantine. I hope no owners/team personnel participate so theres no impropriety on this one of a kind endorsement deal. View this post on Instagram A post shared by Spencer Dinwiddie (@spencerdinwiddie) on May 15, 2020 at 6:49pm PDT Dinwiddie tried to turn his contract with the Nets into a digital investment vehicle and go public, allowing investors to buy in, last year. That would have made him the first professional athlete to do so, however the league shut him down. The idea was that were Dinwiddie to opt out in the final year of his contract in 2021 and find a more lucrative deal, both he and his investors would earn big . The NBA, however, said that this was a violation of the current collective bargaining agreement . Dinwiddie is in the first year of a three year, $34.3 million deal with the Nets, and was averaging 20.6 points and 6.8 assists when the league suspended operations in March due to the COVID-19 pandemic. The 27-year-old has a player option in his deal for the 2021-22 season. If Dinwiddie doesnt hit his fundraising goal, he said he will donate 100 percent of what was raised to charity. What fans get out of this process, other than having a small say in where he may end up playing in a few years, isnt really clear. It also sounds like Dinwiddie would get to keep both the Bitcoin that was raised by fans and whatever money he earns from that future one-year deal. Story continues And, its highly likely that the league will swoop in and reject this plan for violating the CBA, too. For now, NBA fans will just have to wait and see what happens with Dinwiddies latest business venture regarding his contract. More from Yahoo Sports: Stone Cold Steve Austin claps back at fan over mask 2 NFL players face armed robbery charges Sohi: MJ needed others to cool down his fiery leadership Wetzel: Snell justified to scoff at MLB pay cut || Bitcoin Tests $7K as Spot Trading Volumes Subside to Normal Levels: After weeks of elevated activity, trading volumes on spot bitcoin exchanges have subsided, boding well for some traders if not the venues themselves. Prices for bitcoin (BTC) climbed less than a percent Tuesday, retracing gains lost the day before when it hit a one-week low, according to CoinDesks Bitcoin Price Index (BPI). The price of the bellwether cryptocurrency is above the 10-day moving average on hourly charts, a bullish signal as bitcoin tries to climb back to $7,000 levels. Bitcoin has been gaining price momentum since 12:00 UTC (8 a.m. EDT), jumping from the $6,800 area, closely touching the $7,000 level, but currently changing hands around $6,900. Related: Chainlinks Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle This rise comes a day after large, futures liquidation-based sell-offs of $29 million caused prices to slump in early hours trading around 00:00 UTC Monday. Yesterdays drop seemed pretty manipulated but, as weve said before, these moves are more likely now as the liquidity has dried up significantly, said Jack Tan, founding partner at Taiwan crypto trading firm Kronos Research. Read more: Options Market Signals Doubt Bitcoin Price Will Rise After Halving Indeed, bitcoin volumes on USD/BTC exchanges such as Coinbase and Bitstamp have subsided to February levels after enjoying elevated volume in March when a massive sell-off occurred because of coronavirus-related fears. At one point, the price for 1 BTC dipped below $4,000 briefly during heavy trading action on March 12. Related: First Mover: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost Depending on trading strategies, this lower-volume environment can prove beneficial for some market participants. Lower volume means thinner liquidity and can cause prices to swing more often. Our options strategies have been outperforming significantly given the crazy vol[atility] environment, said Darius Sit, managing partner at QCP Capital. The options market is sending bearish signals ahead of bitcoins upcoming halving , giving traders like QCP clear indication how to trade in a lower volume spot market. Despite exchanges reporting interest in bitcoin is increasing , volumes certainly are not, said Vishal Shah, an options trader building a new crypto derivatives exchange called Alpha5. Outside anecdotal claims by certain on-ramps that theyre seeing great inbound interest, the trade volume isnt indicating it, and I dont necessarily expect this to change on the other side of the halving, without any additional catalysts, said Shah. Story continues Of course, its possible new users are holding their bitcoin rather than actively trading it, or they are buying from exchanges and then trading on a peer-to-peer basis. And to the degree these converts are individuals rather than hedge funds or the like, their trades are less likely to move the needle on exchange volumes. Other markets Major digital assets are mixed on CoinDesks board for the day. Ether (ETH) jumped 2 percent. Other big gainers include lisk (LSK) flashing green at 4 percent, monero (XMR), up 2 percent and ethereum classic (ETC) up 1 percent. Losers include dogecoin (DOGE) in the red 1 percent and XRP (XRP) down a percent. All price changes are from 20:45 UTC (4:45 PM EDT in New York) Tuesday. Elsewhere, gold, the precious metal crypto traders follow closely, maintained its classic haven asset status through tumultuous times, currently trading up less than 1 percent. Its been trading above its 10-day moving average since April 9, a long bullish trend for the yellow metal. Gold finally broke the $1,700 resistance point. Were seeing sustained demand due to the continued rise of the number of COVID-19 cases globally, said Nemo Qin, analyst at multi-asset brokerage eToro. Consumer spending and gold production begins to resume in China, which will support gold prices in the short term. Golds consistent price gain is how cryptocurrency enthusiasts were expecting bitcoin to behave but thats not happening, and pessimistic views abound on bitcoins halving in May. Most people want to believe the halving will create a big upward move, but still feels like bears or a few big whales are going to squeeze us lower first, said Chris Thomas, head of digital assets at Swissquote Bank. In traditional markets, the Nikkei 225 climbed by 3 percent as analysts said a massive short squeeze pushed the Tokyo-based markets higher. The FTSE 100 European index ended the day up less than 1 percent, coming on the heels of Britains Office for Budget Responsibility indicating the U.K. economy could contract by 35 percent . Read more: MakerDAO Users Sue Stablecoin Issuer Following Black Thursday Losses The S&P 500 index of large U.S. stocks gained 3 percent after both President Trump and several state governors said at separate briefings the coronavirus mitigation efforts appear to be working to flatten the rate people are hospitalized. Super surprised that the U.S market is so strong just now. Ive been buying Dow puts as I think well be a lot lower again soon, Thomas said. But stocks recent gains are not as steep as the losses they incurred in past weeks, so it shouldnt translate over into BTC, he added. Related Stories More Investors Are Holding Bitcoin Ahead of the Halving, Data Suggests Options Market Signals Doubt Bitcoin Price Will Rise After Halving View comments || Bitcoin Cash halving has no impact on price action: With the Bitcoin halving being just one month away you could forgive people for forgetting about Bitcoin Cash and its own block reward halving, which actually happened today. Miners will now receive 6.25 BCH per block as opposed to 12.5 BCH per block, which theoretically means the price would need to double for mining to remain as profitable. However, Bitcoin Cash is now 5.68% down over the past four hours despite block rewards being slashed, leaving a sour taste in mouths of investors. The difference between the Bitcoin halving in May and the Bitcoin Cash halving is that miners are more inclined to mine Bitcoin due to its value being $7,250 compared to Bitcoin Cash, which is worth just $263. In terms of the technical aspect of Bitcoin Cashs chart it desperately needs to break above and close todays daily candle above the daily 200 moving average for the first time since March 8. So far today it spiked up to the $282 level of resistance after slumping back down below the 200 MA at $268, indicating a clear lack of strength and momentum. It will now likely fall back and test the $238 level of support before embarking on its next major move, although in light of its performance since the turn of the year a move to the downside seems more likely. For more news, guides and cryptocurrency analysis, click here . || BEQUANT Exchange lists Stellar XLM on Trading Platform: Stellar XLM (XLM) is available for trading on the BEQUANT Exchange
NEW YORK, NY / ACCESSWIRE / May 18, 2020 /Stellar is an open source payment system whilst its currency is the Lumen (XLM). Founded by two well-known figures in the tech world, Jed McCaleb and investor, Kim Joyce; the purpose of the payment system is to connect financial institutions in emerging markets, bringing technology to the forefront of financial services in developing countries.
Stellar uses a federated byzantine agreement (FBA) algorithm to enable quicker transactions as they don't need to be approved by the mining network. Using Stellar's protocol, no third party or ‘middleman' is required to transfer funds. The system enables those who don't have a bank account to enjoy basic banking services.
The Stellar protocol has overseen a number of stablecoins issued on the system. Both IBM and Deloitte are utilising the Stellar protocol to facilitate cross border payments and in the case of Deloitte, creating a cross border payment application alongside 30 banks.
CEO of BEQUANT George Zarya said: "Stellar XLM is a successful protocol in the digital assets space and shows social responsibility to the global financial ecosystem. Stellar XLM remains within the top 15 cryptocurrencies globally so we are delighted with its listing on our exchange. XLM will enhance the trading experience for our users."
BEQUANT will list XLM/BTC and XLM/USDT pairs upon release. XLM is one of three recent listings including Ripple's XRP and BTC Short (BTCS).
About BEQUANT:
Located in London and Malta, BEQUANT is a one stop solution for professional digital-assets investors and institutions. Our breadth of products include prime brokerage, custody, fund administration enhanced by an institutional trading platform providing low-latency, liquidity and direct market access.
The BEQUANT team is composed of experts from institutional, retail and digital financial services with experience in banking, derivatives, electronic trading and prime brokerage.
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Websites
BEQUANT Digital Assets Trading Platform:www.BEQUANT.ioBEQUANT Prime Brokerage Services:www.BEQUANT.pro
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Social Media
Follow BEQUANT onTwitter,FacebookandLinkedIn
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Contact details
BEQUANTSunil ChauhanT - +44 (0)20 3893 3214E -marketing@bequant.pro
SOURCE:BEQUANT
View source version on accesswire.com:https://www.accesswire.com/590252/BEQUANT-Exchange-lists-Stellar-XLM-on-Trading-Platform
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-06-04]
BTC Price: 224.32, BTC RSI: 36.22
Gold Price: 1174.90, Gold RSI: 39.64
Oil Price: 58.00, Oil RSI: 48.31
[Random Sample of News (last 60 days)]
After the SendGrid Hack, Beware of Phishing Scams: Email has become a critical tool for transactions — from the sending of Uber receipts to delivery of hotel coupons. Naturally, companies that send mission-critical consumer emails often turn to third-party firms like SendGrid to manage the delivery of millions of messages. Of course, as third parties that maintain trusted relationships with both consumers and corporations, such email providers are an obvious target for hackers. Imagine the damage a criminal could do if he could believably pose as a giant tech firm and send out emails to all consumers? Such emails could ask millions of users to reset their passwords, for example, or update their credit card information, or even send bitcoins. Such attacks are now under way. SendGrid, which has 180,000 customers and sends emails for giants like Uber and Spotify, said this week that a hacker who broke into company systems earlier this month did more damage than initially believed. On April 9, the firm confirmed to The New York Times that a Bitcoin-related client account had been compromised and used to send phishing emails to its customers. But on Monday, SendGrid said additional investigation revealed that one of its own employees' accounts had been compromised and used to access several SendGrid systems in February and March. "These systems contained usernames, email addresses, and . . . passwords for SendGrid customer and employee accounts," the firm said on its blog . "In addition, evidence suggests that the cyber criminal accessed servers that contained some of our customers' recipient email lists/addresses and customer contact information." SendGrid says it has not found evidence that customer lists were stolen, but it "cannot rule out the possibility." The firm is urging its clients to change passwords and enable two-factor authentication. It takes only a little creativity to imagine all the damage a hacker who managed to steal customer email lists and credentials could do. But a harrowing tale told by cloud provider Chunkhost.com on its website offers a cautionary tale . Co-owner Nate Daiger wrote last year that a hacker talked SendGrid into changing its point of contact email from support@chunkhost.com to support@chunkhost.info, then used that change to retrieve a password reset email on two bitcoin-using clients. Fortunately, both clients used two-factor authentication, Daiger wrote. Story continues "Our customers' accounts were protected and the attackers were stymied. But it was really close," he wrote. Corporate clients who use third-party email services should be on notice: hackers are actively targeting such accounts. Meanwhile, here's an important notice to consumers: You can't believe everything you read, even an email that appears to come from a company you trust . Hackers can sent out very believable-looking phishing emails with requests for password changes or payment information. You should always be skeptical of such emails, but now, you have new reasons to be so. When feasible, avoid clicking on links in emails and instead visit websites directly by typing the site address into your web browser's address bar. If you have given up sensitive information to a phisher, it's important to take steps to control the damage. If it's an account number, report your account info as stolen so the bank or card issuer can close the account, or take similar steps to stop or undo any instances of fraud. Keep a close eye on your account statements, and check your credit reports and credit scores for signs that someone has opened an account in your name, or is using an existing one. You can get your credit reports for free every year from AnnualCreditReport.com, and you can get your credit scores for free from several sources, including Credit.com . More from Credit.com Identity Theft: What You Need to Know 3 Dumb Things You Can Do With Email How Can You Tell If Your Identity Has Been Stolen? || Bitcoin comes to America: Now, with regulated exchange: itBit has become America’s first national regulatory-compliant BitCoin exchange. On Thursday, the exchange received approval from New York State regulators to form a trust. It can now accept customers from anywhere in the U.S.
Charles “Chad” Cascarilla, CEO of itBit, tells Yahoo Finance’s Aaron Task in the video above that the approval is a big deal because he believes customers can now feel more comfortable with the virtual currency. “We’re regulated. We hold regulatory capital,” he says. “We have regulatory exams and we have someone who is doing oversight of the exchange and can make customers feel as if there is someone else who is looking over what we are doing and making sure customers are in good shape,” he explains.
itBit was originally headquartered in Singapore but moved its main operations to New York last year. “We have spent a lot of time here in the last three years, building our exchange, really making sure that we could test everything that we are doing.” itBit has been operating outside the United States for the last 16 months.
On the move to the U.S. and New York state approval, Cascarilla says, “The approach we have taken is, ‘Let’s ask for permission. Let’s not ask for forgiveness.’”
The approval as a trust supersedes the exchange as solely a form of money transmission as has been the case with other Bitcoin exchanges because, Cascarilla says, it's now “organized under New York banking law. This is a very sophisticated way of being regulated… It’s a totally different licensing and regulatory regime.”
Bitcoin has had a rough go lately. The virtual currency fell more than 60% in 2014, and saw the bankruptcy of one of its biggest exchanges, Mt. Gox, after its computer system was hacked. 2015 didn't start much better in terms of price, which at one point was more than 80% below its 2013 high. “Mt. Gox was totally unregulated. They were operating as best they could at the time,” says Cascarilla. “And again bitcoin is still in its early stages. And inevitably, in its early stages, you have some pitfalls and hiccups,” he says.
But now interest in the virtual currency may be gaining momentum. Last month, Goldman Sachs (GS) and Chinese investment firm, IDG Capital Partners, invested $50 million in Circle Internet Financial, a start-up that uses Bitcoin technology to allow customers to digitally store and transfer money. Earlier this year, the New York Stock Exchange invested in Coinbase, a Bitcoin trading platform. And in January, the Winklevoss twins launched another exchange called Gemini.
Get the Latest Market Data and News with the Yahoo Finance App
Cascarilla hopes itBit will lead the way because its new regulatory status will allow more sophisticated customers to use the exchange. itBit has hired a chief compliance officer from eBay (EBAY). And it boasts board members like former FDIC Chair Sheila Bair, former U.S. Senator Bill Bradley and former Financial Accounting Standards Board Director Robert Herz.
As for funding, Cascarilla says itBit recently raised $25 million in capital, for a total of $32 million to date. “We have more capital than any other exchange in the Bitcoin world and that’s an important item for soundness and safety as well,” he says.
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Nobel prize-winner Stiglitz: Three steps to solve income inequality || Thoughts on The Future of Bitcoin From Genesis-Minings CEO Marco Streng – Established Bitcoin Cloud Mining Company: Established In 2013 And One Of The Largest Bitcoin Cloud Mining Platforms In The World, Genesis-Mining's CEO Marco Streng Shares His Thoughts On The Possible Future Of Bitcoin
Hong Kong / ACCESSWIRE / May 2, 2015 /Writing about the future of Bitcoin with any certainty is like saying someone knows a certain horse will definitely win the Triple Crown this year. The fact is that the technology could go anywhere, legislation could change everything, andBitcoin culture continues to evolve somewhat sporadically. But there is no fun in not speculating; so Genesis Mining CEO Marco Streng decided to answer the impossible questions.BecauseGenesis Mining is one of the largest suppliers of any Bitcoin company in the world, Streng is uniquely informed about what new technologies are coming into vogue, which are over-hyped, and what research could change the technology tomorrow.
"There is a lot of innovation and pioneering going on in the mining world. Advancements range from innovative data center structures, intelligent and more powerful mining farm monitoring solutions, to more and more optimized chip designs for lower and lower nanometer scales."
Bitcoin culture today places a premium on the crowd-monitored nature of the technology, but as the power continually gravitates towards large companies and large data centers, that culture's voice is losing its thunder. The question is whether the average user will embrace the new era of mining or reject Bitcoin altogether. While the currency still represents the most regulatory-free currency in the world, its early adopters envisioned nothing short of utopia. Big companies are as prone to corruption as any other organization, or so the argument goes.
Streng got the question if the consolidation of mining will hurt or help the Bitcoin movement, especially concerning the Bitcoin faithful.
"What people may forget is that the higher the total mining power in the network, the less vulnerable Bitcoin is. In the early days, a private individual could possibly gain enough influence to control the Bitcoin network by a large enough investment in mining. Times have changed and it is much harder to do that now."
One of the biggest obstacles still facing the currency is evangelizing the many millions of people who believe it is a fringe movement, a fad, one that will disappear quietly in a few years. It does continue to edge its way in to the mainstream with small but notable successes, like Rand Paul’s new presidential campaign website accepting donations in BTC. And the technology does continue to gain high profile backers from numerous industries. But even with the most rose colored lenses, no one can say that Bitcoin is mainstream. Streng doesn’t think we will have to wait too long for that to happen.
"For those of us born in the late 80’s and early 90’s, we grew up with the internet being a major part of our lives. We didn’t have to adopt the technology, we simply had to learn to use it and convince our parents we needed to upgrade our dial up connection. Change is hard, and we saw older generations struggle to use Google instead of libraries and Amazon instead of RadioShack. Despite some people opposing it and all the negativity it received, the internet prevailed and has changed the daily lives of billions of people. I understand that Bitcoin sounds crazy to some, but inmany ways it is following the same path as the internet, and I think it will change the world just as profoundly."
Time will tell if Streng is right — if a more centralized infrastructure can mesh with Bitcoin culture, if the technology will be embraced by the general public, and if officials in the US and other countries decide not to regulate. But one thing is for sure, many thousands of highly informed critics said Bitcoin would never last as long as it has.
About Genesis-Mining:Hong Kong basedGenesis-Mining was established in October 2013 with Bitcoin cloud mining facilities located in Iceland, USA and Canada. Genesis-Mining has a partnership with the world's largest ASIC manufacturer; Spondoolies Tech.For more information about us, please visithttps://www.genesis-mining.com/a/47631
Contact:Paulo Fioriopaulo.fiorio@genesis-mining.comGenesis-Mining
Source:Genesis-Mining || Wall Street momentum adds to year of bitcoin legitimacy: A top secret bitcoin startup called 21 Inc. finally disclosed its business plan this week and the strategy points to the many uses of the virtual digital currency beyond the obvious. With $116 million of backing from top tier venture capital firms and former Treasury Secretary Lawrence Summers signed on as a strategic advisor, 21's emergence is also further proof that bitcoin has rapidly moved from fodder for weirdo science fiction to the realm of real business tools. The New York Stock Exchange's announcement on Tuesday of its own bitcoin price index , one that could be used as the basis for all manner of derivative contracts, is yet another signal of bitcoin's usefulness to mainstream businesses. The well-funded startup says it has created a dedicated computer chip that can be added to smartphones, tablets or almost any other type of computing device to allow for the processing of bitcoin transactions and the creation of new bitcoins. The feature could also be incorporated into chips made by other companies to add the same functionality. Currently, that's the realm of high-powered (and high-priced) computer rigs known as bitcoin miners. Every time a bitcoin is traded from one person to another, the transaction is recorded in a digital logbook known as the blockchain. Mining computers crunch the encryption equations needed to verify each transaction and verify the listings in the blockchain. New bitcoins, each really just a unique string of digits, are generated via the same process, providing an economic incentive for the miners to verify all of the transactions. Adding the bitcoin mining capability to any consumer's portable computing device opens an intriguing array of new functionality. Because bitcoin mining generates new bitcoins, 21's chips create a small, new revenue stream for any device. That revenue could go toward subsidizing Internet access or paying for online services. It could also go to a phone manufacturer or mobile carrier. And if the idea catches on, more than a billion smartphone owners could be crunching bitcoin transaction data on the phones in their pockets as they go about their day. [ Get the Latest Market Data and News with the Yahoo Finance App ] But connecting each device to bitcoin's digital logbook of all transactions adds another set of interesting capabilities. Transactions added to the blockchain can include extra information which can't be altered or removed. That can provide a layer of security and verification that's hard to find on the Internet. It could also allow devices to authenticate themselves without resorting to the kinds of more expensive security networks used by corporations today. Many of these type of features can work no matter how much the price of a bitcoin rises or falls. The often-volatile price climbed over $1,000 in November 2013, only to plummet more than 75% over the next year. Bitcoins traded for about $234 each on Tuesday. 21 CEO Balaji Srinivasan emphasized that separation of price and function in a blog post on Monday . "At 21 we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol — and particularly in the industrial uses of bitcoin enabled by embedded mining," he wrote. Of course, there's no guarantee that 21 will succeed. Its chips may turn out to be too expensive, too slow or otherwise flawed. And the revenue generated by the chips may turn out to be too meager to support any interesting initiatives. Still, the news of Summers and the New York Stock Exchange's involvement adds to the list of serious Wall Street players already backing bitcoin, including Goldman Sachs ( GS ) and the Nasdaq ( NDAQ ). The NYSE was already one of the backers of bitcoin exchange Coinbase. Goldman is backing digital wallet provider Circle while the Nasdaq recently announced plans to use the blockchain as a secure listing for private stock transactions. Again, all of these ventures could certainly fail or fall short. But it seems more likely that 2015 will be remembered as the year bitcoin got serious. || Greece Isn't The Only Flight Risk For The Eurozone: Greece's financial woes have raised questions over whether or not the eurozone should be preparing for the nation to exit the currency union.
However, although Greece has been in the spotlight for the better part of three months, it isn't the only nation the European Union stands to lose in the coming year.
The UK is about to hold its general election next month; the outcome of which could result in a referendum on Great Britain's relationship with the EU.
Referendum On Membership
Conservative Prime Minister David Cameron has promised to renegotiate Britain's relationship with the EU if he and his party are re-elected. He vowed to give the population a chance to weigh in with a referendum vote in the coming year.
However, if Cameron is defeated by his Labour Party counterpart Ed Miliband, the referendum is unlikely.
Coalition Likely
At the moment,polls showthat the two parties have relatively equal support, which most expect means the vote will end with some sort of coalition government taking power.
However, if the Conservative party is included in the coalition, a referendum vote is likely to remain on the table.
Related Link:Greece's Finance Minister Quotes Roosevelt To Express His Frustration
HSBC Warns On Referendum
Last week, British bankHSBC Holdings plc(NYSE:HSBC)voicedits concerns about a referendum on the UK's membership in the EU, saying that economic risks could be disastrous if the region decided to leave the EU.
The bank said it was evaluating the possibility of moving its headquarters out of London due to the structural reforms banks have had to face since the financial crisis and warned that whether or not Great Britain remained in the EU would play into its decision making.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Business Of Fertility Finance: When the U.S. economy was still lagging, lenders were struggling to find new clients as Americans tightened their spending and hunkered down for the remainder of the Financial Crisis. However while the economy slowed, Americans' biological clocks continued ticking, leading to the emergence of a multi-billion dollar industry that continued to thrive long after the recession ended – fertility finance. Fertility Lenders Back in 2012 when money was tight, lenders specializing in fertility treatments began to emerge. Couples who were unable to secure traditional loans or use credit cards to pay for in vitro fertilization (IVF) treatments had the option of taking out a loan with a "fertility finance" company. Related Link: OvaScience Shares Quiet After Co. Announces AUGMENT Fertility Treatment Continues To Show Improvement Companies like NBT Bancorp Inc. (NASDAQ: NBTB ) offered hopeful couples the opportunity to take out a loan by partnering with doctors at fertility clinics who could recommend the loan service. Still A Thriving Industry Fast forward to 2015 when economic improvement has been steady and oil prices have given most households a bit of extra spending cash, and the industry is still booming. IVF treatments remain expensive at upwards of $15,000 per attempt and the number of couples requiring treatment has been steadily rising. More Candidates For IVF Women have started to put off their plans for a baby until their late 30s or early 40s, upping the risk that they won't be able to conceive and making IVF an increasingly necessary option. However, with the chances of conception through IVF just 30 percent on any given attempt, many couples require several rounds of treatment. For that reason, companies like IntergaMed Fertility offer a wide range of loan options for couples who need to pay for IVF. Related Link: HRC Fertility In Orange County Announces Outstanding IVF Success Rates Making Fertility Treatment Accessible Most insurance companies don't allow for fertility costs, making IVF an out-of-pocket expense. Fertility finance companies are looking to make fertility treatments available for couples of any income and mitigate some of the risk that the treatments won't work at all. Story continues Some companies even give couples a "money-back guarantee" in case the treatment is unsuccessful. Image Credit: Public Domain See more from Benzinga Nuclear Deal With Iran Still In Limbo Bitcoin Gaining Support Among Do-Gooders McDonald's Back In The Firing Line Over Happy Meal Ad © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Goldman Sachs buys into Bitcoin and McDonald's new DIY burger: Another day of red arrows for the major stock indices ( ^DJI , ^GSPC , ^IXIC ) a day after the Fed left the door open, at least a little, for a June rate hike. A mixed bag of economic data this morning didn't help matters. Jobless claims came in lower than any other week in the last 15 years and consumer spending ticked higher. Still the cost of employing the average American worker ticked higher and personal income was flat. Get the Latest Market Data and News with the Yahoo Finance App Here are some of the other stories Yahoo Finance is keeping an eye on today. McDonald's build-a-burger McDonald's ( MCD ) efforts to revitalize sales have been making headlines pretty much every day, and today is no exception. Now, the fast-food giant is reportedly test marketing custom-made meals, where diners can choose how their burgers and salads are made. Big banks and bitcoin Bitcoin is taking another step towards mainstream acceptance. Goldman Sachs ( GS ) is investing $50 million dollars in consumer digital currency company Circle Internet Financial, becoming the first big banking institution to get behind bitcoin. Secret no more It's no longer a secret--the Secret app is no more Co-founder David Byttow blogging that after a lot of thought and consultation with the board, he's shutting the company down after just 16 months. The once-hot app that allows users to share information anonymously has reportedly seen a big dropoff in demand despite a retooling a few months ago. Fastest growing retail app What retailer would you think had the fastest growing mobile app last year? Well, if you said Kohl's ( KSS ), you'd be right. Researcher Comscore finds the Kohl's app jumped 793 percent in 2014...second only to car service Lyft. More from Yahoo Finance McDonald's new menu, Apple becoming Microsoft and Budweiser's blunder Budweiser's 'no' must go: social media Microsoft developers conference falls flat, is Apple next? || Nxt: The Original Bitcoin 2.0 Platform With Smart Contracts, Decentralized Crowdfunding, Open Source and 18 Months Development: With over 18 months of development, The non-profit Nxt Foundation is pleased to announce many disruptive business and financial applications of Nxt's blockchain technology: including trustless smart contracts, decentralized crowdfunding, a strong open source ethos and more
AMSTERDAM, NETHERLANDS / ACCESSWIRE / May 14, 2015 /Nxt is different. While there are many players in the cryptocurrency 2.0 field, Nxt has several key elements that set it apart from the others.
First and foremost, Nxt is a self-sufficient system. Many other projects depend on a blockchain implemented and maintained by an external party, usually Bitcoin. Nxt is a complete and self-contained system in itself. As any business owner knows, being dependent on a third party for an essential part of their business model introduces unnecessary risk.
This is why Nxt chose not to piggyback on an external blockchain over which it has no control, but has built all of its features onto its own blockchain. This also means that Nxt developers can quickly and easily create new features while maintaining a coherent system, without needing to consult with an external blockchain provider.
Secondly, Nxt has a solid and secure track record. The Nxt blockchain has been in continuous operation and use for 18 months, proving to be a stable system that can scale to handle an increasing load. Additionally, new features have been added on an incremental release basis after thorough evaluation on Nxt’s testnet. Many applications have already been built on top of Nxt, using its diverse features to create decentralised companies and software and to leverage the benefits of its strong community and network.
Thirdly, Nxt is open source and free! Nxt is not under development by a central authority. This may at first appear to be a weakness, but a glance at the extremely successful operating system Linux shows that central development is not needed to create a valuable and working architecture. Nxt has seen fast and dedicated development since its inception and is continuing to evolve with the input of many talented coders. As there is no barrier to entry to the Nxt ecosystem, it is a perfect environment for blue-sky crypto developments.
Just plug it in
The Nxt Cryptocurrency platform is modular by design. Nxt uses a variety of different transaction types that can be combined to perform more complex functions. In order to take full advantage of Nxt’s versatility,its developers have created a plug-in systemthat allows people to build applications and to share them with other Nxt users.
The plug-in system will go live with the release of version 1.5 of the Nxt Reference Software (NRS), Nxt’s native client. This release will also introduce blockchain Voting and Enhanced Multisignature Transactions (Phasing) to the Nxt core functionality. Developers on the Nxt Testnet are already experimenting with use cases, such as a crowdfunding plug-in (https://www.youtube.com/watch?v=JBsKVJYbitY), an e-commerce plug-in (https://www.youtube.com/watch?v=a6lcrNh9AuI) and several others.
The plug-in system is an example of the philosophy of flexibility and versatility that is at the heart of Nxt.
What it means for Nxt users
Nxt is eminently suitable for both business and non-commercial use. All of Nxt’s features can be accessed separately or in combination, using a simple but comprehensive API structure (http://85.25.198.120:7876/test).
Nxt is fast, with an average block time of around 90 seconds. It is powerful, giving users access to such diverse features as asset creation and trading, separate currencies, data transfer and storage, blockchain voting and multisignature transactions.
Nxt is easy to build for, and those who want more information about how to use Nxt, or who need support on the more technical aspects of the Nxt systems, can contact the Nxt Foundation.
The Nxt Foundation (http://nxtfoundation.org/) is a non-profit organisation which can answer questions on Nxt, offer support, and connect businesses with the developers and advisors they need to take advantage of the unprecedented opportunities offered by the Nxt platform. Contact Nxt Foundation today atinfo@nxtfoundation.org.
For more information about us, please visithttp://nxt.org
Contact Info:
Name: Bas Wisselink, Nxt Foundation DirectorEmail:bas@nxtfoundation.orgOrganization: NXTPhone: +31 (0)6 13937762Video URL:https://vimeo.com/127270358
SOURCE:NXT || New App Allows Seamless Bitcoin Investment: Pieter Gorsira is hoping to take some of the confusion out of investing in cryptocurrency by giving people a way to invest seemingly trivial parts of their income into bitcoin quickly, easily, and often without even thinking about it.
Gorsira is the man behind a new startup calledLawnmowerwhich is looking to help people save their ‘loose change' by investing in bitcoin.
A Little Off The Top
Lawnmower connects to a user's bank account and rounds each purchase up to a whole number and invests the extra cents in bitcoin.
For example, a purchase of $2.50 would result in Lawnmower taking the additional $0.50 and saving it. Once a user has at least $4.00 in savings, the app purchases a bitcoin.
Adding Up
The idea behind the appis to integrate saving and spending to make it easier for users to accumulate funds.
Not only does it promote saving, but it also allows people to expose themselves to bitcoin without making a huge commitment.
How It WorksThe company requires users to set up a Coinbase account, as the bitcoins are bought using that exchange, and is able to link to multiple bank accounts.
At the moment, Lawnmower is only in beta testing, but the company is hoping to use the feedback from current users to launch a comprehensive product to the general public soon.
Related Link:Cryptocurrency Finds A Place In Education With Smileycoin
While bitcoin has had a difficult year, scaring many users away with its volatility, Lawnmower claims users' small investments over time help mitigate some of that risk.
A New Market
While bitcoin has typically seen the most usage among the tech-savvy crowd, Lawnmower is hoping to find a new audience for the cryptocurrency.
The company believes that much of the general public is interested in bitcoin, but don't have the technological know-how to get involved.
Lawnmower removes some of those barriers and allows people who wouldn't otherwise invest dip their toe into the cryptocurrency pool.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 things in tech you need to know today: (Getty Images News)Apple CEO Tim Cook
Good morning! Here's the tech news you need to know to start off the week.
1.Apple CEO Tim Cook gave a commencement speechto the graduating class of George Washington University.He talked about what it was like to work with Steve Jobs.
2.Apple has acquired GPS mapping company Coherent Navigation.The company's technology is so advanced that it claims to be able to pinpoint a user's location to within a few centimeters.
3.Carl Icahn has invested $100 million in ride-sharing company Lyft.It raised $150 million, which brings its valuation to $2.5 billion.
4.The first trailer for Aaron Sorkin's movie about Steve Jobs has been released.It shows Michael Fassbender wearing a distinctive black turtleneck jumper.
5.Tech billionaires are going to extreme lengths to get their privacy back.They're spending gobs of money for the one thing everyone else has, but probably takes for granted.
6.The New York Times thinks it may know the identity of the man who created of Bitcoin.It says that Nick Szabo could be the elusive Satoshi Nakamoto.
7.Netflix stock hit a record high on the news that it's planning on entering the Chinese market.It was up over 5% on Friday afternoon.
8.A group of employees at payments company Clinkle left the company on Friday.The company was reportedly negotiating with Apple over an acquisition.
9.Microsoft has clarified that pirates won't get Windows 10 for free.It has previously indicated that even illegally downloaded versions of Windows would be eligible for an upgrade.
10.The Chinese army has banned smartwatches.It claimed that the devices could be hacked into.
NOW WATCH:Here's what happens when you drop an Apple Watch face down on cement
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[Random Sample of Social Media Buzz (last 60 days)]
buysellbitco.in #bitcoin price in INR, Buy : 15232.00 INR Sell : 14760.00 INR. Buy… http://dlvr.it/9rKWhS #bitXbitpic.twitter.com/6AaJXzTQXy || Current price: 221.23€ $BTCEUR $btc #bitcoin 2015-04-22 16:00:06 CEST || current #bitcoin price (winkdex) is $236.5, last changed Fri, 01 May 2015 00:35:00 GMT. queried at: 00:38:06 || $BTCUSD - Rally probabilities: 260.00 is HIGH; 270.50 is MOD, 285.22 is LOW
http://buff.ly/1JOpJB4
$BTC $USD #bitcoin #bitfinex #forex || #Anoncoin/#ANC price now: $ 0.091031, that's 0.86 % change in 1hour. -3.79 % past day, and 4.77 % in the past week! #Bitcoin is $ 235.00 || LIVE: Profit = $1,089.13 (29.17 %). BUY B16.70 @ $223.16 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 26 exchange pair(s), yielding profits ranging between $0.00 and $1,217.55 #bitcoin #btc || Current price: 232.57$ $BTCUSD $btc #bitcoin 2015-05-20 00:00:04 EDT || current #bitcoin price (winkdex) is $233.56, last changed Sat, 11 Apr 2015 07:08:00 GMT. queried at: 07:11:38 || current #bitcoin price (winkdex) is $236.25, last changed Sat, 11 Apr 2015 02:54:00 GMT. queried at: 02:56:37
|
Trend: up || Prices: 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-12-15]
BTC Price: 17706.90, BTC RSI: 73.48
Gold Price: 1254.30, Gold RSI: 42.97
Oil Price: 57.30, Oil RSI: 54.25
[Random Sample of News (last 60 days)]
Bitcoin, the Future or Just a Gamble?: Does the break above the psychological $10,000 level, validate the Cryptocurrency? This week we saw Bitcoin breach the $10,000 mark and continue in a near-vertical ascent that has some people scratching their heads and others celebrating their incredible gains. Weve covered Bitcoin in January 2017 and many of the fundamental points covered are still valid. We tackled supply and security two of the main issues and the associated arguments, so its worth revisiting that post as a reminder. As certain countries in the world experience crises of various types, cryptos and Bitcoin, in particular, emerge as top choices for protection. There has been considerable flows from countries like Russia and China, where cryptos have been used as a vehicle to take funds out of the banking system and essentially make them vanish. Pretty much from their inception, cryptos have been one of the easiest avenues when it comes to such needs, and also for the dark web (the infamous Silk Road website is a prime example of that). There have also been cases where rampant inflation makes having fiat money a particularly bad carry trade, with obvious examples being countries such as Venezuela and Turkey. So, there have been good reasons why cryptos have been the target of funds over the past few years and why they have experienced this monster rally. To put some perspective, here is an interesting table of Bitcoin price progression: $0000 $1000: 1789 days $1000 $2000: 1271 days $2000 $3000: 23 days $3000 $4000: 62 days $4000 $5000: 61 days $5000 $6000: 8 days $6000 $7000: 13 days $7000 $8000: 14 days $8000 $9000: 9 days $9000 $10000: 3 days $10000 $11000: 1 day Bitcoin Daily Chart This kind of price action is very rare and as a result, there have been varied reactions to it. The disbelievers call Bitcoin a bubble and are adamant that there is no fundamental reason why its going parabolic. Bitcoin price action actually resembles the Dutch Tulip mania of the 17 th century, and this is something they often refer to in order to justify their negative view. They are usually particularly offended by people saying that Bitcoin is backed by mathematics and setting massive arbitrary price targets. Story continues On the other side of the fence, we have the hardcore crypto fans who believe that total crypto-currency market capitalization should be in the tens or even hundreds of trillions of dollars. They think that blockchain technology and cryptos are the future and that potentially they will eventually replace fiat currencies. They accumulate cryptos (the ultimate goal is to accumulate Bitcoins in particular) and are on a buy-and-hold to infinity mode. Then there are the people in the middle who are open to the concept of cryptos and understand the value of the technology, but who also find it very difficult to assign a price to this product. I myself am in this last category; Ive been watching Bitcoins rise in amazement but I never got certain enough of it in order to trade it. I have well and truly missed this trade and I accept that. I personally believe that blockchain technology is here to stay and crypto-currencies could be the future of money. However, Im still not convinced that the current crypto-currencies are the ones that will survive. As total crypto market capitalization rises, governments and central banks start to take notice. Its possible that we will see government-backed cryptos in the future that could well take a big chunk of the total market cap. As a currency, Bitcoin has severe limitations when it comes to transaction capability. The recent hard fork with Bitcoin Cash seems to take care of that problem but its still unclear how well its equipped to properly take on established fiat currencies. So, what do I think will happen to crypto prices and Bitcoin in particular in the near future? Its price has taken off and is breaking ATHs practically on a daily basis and this is something that I would never want to go against, so I wouldnt be shorting it here. An interesting development that will affect Bitcoin price is the introduction of Bitcoin futures on the CME. This has been discussed extensively in the marketplace and once again there are two differing opinions on it. One view is that this is a bearish development, as it will provide an easy way for traders to short it. There are currently ways to short Bitcoin, but they are not as simple as shorting a futures contract. I can see the logic in this, but I personally think that there is a much bigger reason why Bitcoin futures will actually push the price higher: There have been many individuals who want to invest in Bitcoin but who are put off by the complexity involved, and also by the security risk. You need to get a digital wallet, preferably a physical piece of hardware. Then you need to get very good anti-virus protection and make sure you have backups. Do all that and you could still potentially be vulnerable to hacking. Cases, where cryptos are hacked or stolen, are multiplying and this is surely putting people off. Bitcoin futures will provide a platform where getting long Bitcoin becomes extremely simple, and for this reason, I believe that the initial reaction to the introduction of this future will probably be bullish. Its my opinion that Bitcoin will continue to rise going into year-end, as the CME future gets introduced. However, there will have to be a point where there will be a major correction. Bitcoin price will no longer be subjective and driven purely from the capital flow, but it will also have to somehow represent intrinsic value. This is something that Bitcoin longs need to be very careful of, and plan their contingency strategy accordingly. The Harmonics point of view The whole market has been talking about when bitcoin would reach 10,000 but the weekly Fibonacci resistance was at 11400. It is very common in Bitcoin at big levels that the market is expecting to pause just below it or at it and suggest it has stopped going up. Then longs start to sell and some even short sell and then bitcoin pushes through the level, everyone thinks it is a breakout, jumps in long. And then the market reverses straight back through the level. This is a very bearish reversal signal. Trend support is the 0.236 Fibonacci retrace level from 2015 low and then below that, we are in a bigger correction and can look to 7132 and the 0.382 retrace next. In terms of harmonic patterns, we are looking for a three-wave (two swings lower) move before we see bitcoin turn higher again. Bitcoin Weekly Chart This article was written by one or more of the following contributors: Blake Morrow, Nicola Duke, Grega Horvat, Steve Voulgaridis and Stelios Kontogoulas. They are all analysts at ForexAnalytix which provides macro & technical analysis for various financial instruments. Forex Analytix primary goal is to educate traders of all experience levels and to provide a wide range of tools which can help with their trading decisions. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction for December 1, 2017 Bitcoin, the Future or Just a Gamble? Blockchain Advertising Goes to the Real World Daily Market Forecast, November 30, 2017 EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD Thursday Support and Resistance Levels November 30, 2017 Market Snapshot Markets in Buoyant Mood || Okta's offering a nice promotion for startups — a free year of its password management service (OKTA): Business Insider
• Okta is offering startups a free year of its password management services as part of a new promotion.
• Okta for Startups includes access to the company's primary Identity Cloud service, which allows users to store login credentials for multiple services behind a single user identification and password.
• The promotion is also offering startups the ability to build Okta's login feature into their applications.
In a bid to hook new customers on its password and authentication services, Okta is offering a free trial for startup companies.
Starting Wednesday, Okta will offer its services for free for up to a year to companies with 25 or fewer employees. The promotion, dubbed Okta for Startups, includes access to Identity Cloud, the company's primary product, which allows users to store login credentials for multiple websites and applications behind a single user name and password.
Okta for Startups also includes the option for companies to build Okta's login and authentication service into their customer-facing applications, as long as those apps have no more than 25,000 monthly active users.
Okta is trying to make it easier for startup companies to focus on their core products, Frederic Kerrest, its chief operating officer, said in a statement.
"Founding a company is hard," Kerrest said. "And it’s even harder when you have to build a business model for something that hasn’t been done before, or that you’re trying to do differently – all while getting your core systems up and running."
Okta, which went public in April and is now worth $2.7 billion, is scheduled to release its latest quarterly report on Wednesday after the market closes. While the company has been operating at a loss, its business has been rapidly growing; in its previous quarter, its subscription revenues were up 67.7% from the same period a year earlier.
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SEE ALSO:Okta CEO Todd McKinnon is officially the 14th fittest man in the world — for his age || Why the big exchanges are going big on bitcoin futures: On Oct. 31, CME Group announced its intention to launch bitcoin futures , and the price of bitcoin jumped immediately . If the Chicago Mercantile Exchange is getting in, the broad reasoning went, it’s good for bitcoin. Fast forward just one month: the bitcoin derivatives race is on, and it’s a lot bigger than just CME. The CFTC (Commodity Futures Trading Commission) has approved both CME and Cboe (Chicago Board Options Exchange) to launch bitcoin futures, and Nasdaq, too, wants to do it . Cantor Fitzgerald, on its Cantor Exchange, is also planning to certify bitcoin options. And LedgerX , which matches bitcoin options (but not futures) for institutional investors, got CFTC approval in July and is up and running. Last month, LedgerX matched an option for bitcoin at $10,000 that is good until the end of 2018, for a fee of $2,250. It was the first bitcoin one-year option trade. Cboe had actually announced back in August that it partnered up with Gemini, the bitcoin exchange of the Winklevoss brothers , with plans to launch bitcoin futures. The news didn’t quite get the loud reception that CME’s October announcement prompted. Cboe will set its futures prices based on Gemini. CME will set its prices according to an index calculated based on four leading bitcoin exchanges: Bitstamp, GDAX (from Coinbase), itBit, and Kraken. It all starts on Dec. 10, when Cboe will launch its futures, beating CME Group to market by eight days. CME will begin its trading on Dec. 18. (Note: Most of these derivatives platforms will only be for institutional investors, like hedge funds and banks, or individuals with millions in net worth; so how can you, a regular solo investor who wants to buy some bitcoin, get in? Here’s how .) The price of bitcoin in 2017, through Dec. 5 Fools rush in? The entrance of mainstream exchanges to the crypto trading world will bring institutional investors and Wall Street types. That’s exciting to many. As CoinDesk puts it, derivatives trading will bring to bitcoin a “ new kind of whale .” Story continues CME chairman and CEO Terry Duffy explained CME’s reasoning thusly on CNBC : “You can’t ignore the fact that this is becoming more and more of a story that won’t go away, by mainstream companies that want to have access to this product.” And Cboe CEO Ed Tilly put it similarly, pointing to red-hot interest in bitcoin as the impetus: “Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure,” says Tilly. In other words, bitcoin is trending, and Big Finance is rushing in. LedgerX Co-founder and President Juthica Chou , a former Goldman Sachs trader, says regulated options trading, “gives the guarantee and the safety that the bitcoin ecosystem really needs, especially for institutional involvement. There was never really a way to bet against bitcoin or to hedge that downside risk.” Indeed, bitcoin options and futures also bring the first real chance to short bitcoin, since you could bet on the price going down. But for bitcoin purists, that’s alarming, and a potential danger to the bitcoin price. (Could bitcoin be the next big short ?) CME, Cboe, and Nasdaq are all rushing to launch a Bitcoin futures product. I think this is good news as it will be much easier for institutions to buy BTC. But it's also much easier to short BTC now. Do you think this us bullish or bearish for BTC price in the short term? — Charlie Lee [LTC] (@SatoshiLite) December 4, 2017 There’s also an obvious irony to mainstream financial exchanges like Nasdaq and CME getting in at the same time as big Wall Street names like Warren Buffett , Ray Dalio , Jamie Dimon , Carl Icahn , and Randal Quarles dismiss bitcoin as a bubble or, worse, a fraud. CME, Cboe, Nasdaq, and Cantor Fitzgerald believe otherwise. And in two weeks, we’ll begin to see the effect of their noisy entrance into bitcoin. Disclosure: The author owns less than 1 bitcoin, purchased in 2015 for reporting purposes. — Daniel Roberts covers bitcoin and blockchain at Yahoo Finance. Follow him on Twitter at @ readDanwrite . Read more: The 11 biggest names in crypto right now Why bitcoin matters Square’s bitcoin trial is a big deal Bitcoin is becoming the new gold Japan is poised to become the leading bitcoin market || Blockchain Advertising Goes to the Real World: AdExhas made some fuss in the industry earlier this year when it held a token sale offering contributors to join its “decentralized ad network” that would tackle problems found in its classic counterparts, meaning expensiveness, intrusiveness, and utter lack of transparency when it comes to monetization.
The company’s campaign was a success, but it didn’t stop at that. Partnership and collaboration agreements with numerous other blockchain-oriented companies that deal with videos and content distribution soon followed.
A week ago, however, AdEx went beyond the cozy shell of the blockchain world when it announced its cooperation withInk, a global travel media company that serves dozens of companies around the world with magazines you find onboard airplanes, travel apps, flight documents, and so forth.
This alone has marked a notable instance of a blockchain-based company entering the real sector of the economy.
According to the agreement between the companies, Ink was going to sell 1 million ad spaces on boarding passes ofeasyJet, one of Europe’s biggest airlines that services around 800 routes in 31 countries, via AdEx network over an auction.
AdEx handled the auction process itself while Ink and easyJet decided on whose bids were winning.
The auction was successful, and three companies will now place their ads on the boarding passes covering a million people in one go.
“This is a giant step for us as it bridges travel media, advertising, and blockchain to offer advertisers, even more, opportunities for reaching their desired target audiences,” AdEx CEO Ivo Georgiev said commenting the auction.
As it turned out, the companies only tested the waters with their auction as they have recently announced there will be another one this December.
Unlike its predecessor, it won’t be open for everyone and will use a prearranged list of bidders which have to apply for bidding at AdEx’s website, and, if successful, receive an invitation to participate.
While it’s obviously too early to draw any conclusions, it seems that the world of advertising has finally started embracingblockchain. This could lead to a major breakthrough for the technology that is currently associated only with finance and cryptocurrencies. This example proves that its field of applicability goes way beyond that. As it offers cheaper advertisement, precise targeting, and transparent monetization, it might be only a matter of time when every ad you see online or in the real life is in fact profoundly blockchainized.
Thisarticlewas originally posted on FX Empire
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• Bitcoin, the Future or Just a Gamble? || This FDA-approved Apple Watch band can actually tell you if your heart isn't working properly (AAPL): Band Lifestyle 1 AliveCor AliveCor makes a portable EKG reader the kind of electric heart monitoring that's standard in hospitals. The Apple Watch has a built-in heart rate reader, but it's not clinical grade and its readings can't be used by doctors. AliveCor's new product is a custom band for the Apple Watch with a built-in EKG sensor, and it and its software has been cleared by the FDA, its CEO says. The Apple Watch has a heart rate sensor that has reportedly been saving lives, but it doesn't return the kind of data a doctor needs to really assess what's wrong with a patient. Doctors looking to diagnose heart issues require what's called an electrocardiogram test, or EKG for short not readings from an optical heart rate sensor like those found on most wearables. Now AliveCor, a private medical health company headquartered in Mountain View, California, is releasing a new Apple Watch band that has a built-in EKG sensor. According to CEO Vic Gundotra, it's the first-ever medical accessory for a wearable that's been cleared by the Food and Drug Administration. "We live in a world where consumers want to know every minute what's going on [in their bodies] and for the first time they can have a medical, clinical-grade, FDA-cleared tool," Gundotra said. Vic Gundotra, CEO (1).JPG AliveCor AliveCor is calling the device KardiaBand. It costs $200 and is on sale from Amazon and AliveCor's site, and you don't need a recommendation for a doctor to use it it's meant for consumers, and anyone who might want to keep a closer watch on their heart or those concerned with heart issues like sinus heart rhythms or atrial fibrillation. "The average consumer doesn't know what a normal sinus rhythm looks like or what atrial fibrillation looks like. Yet the FDA has cleared our individual algorithms," Gundotra said. "The consumer can have confidence that this is FDA-cleared. And frankly, we have the clinical studies to prove it." Story continues The KardiaBand slides into any Apple Watch and uses its own small watch battery, which Gundotra says should last two years. To take a reading, you simply place your fingers on the small metal contacts embedded in the band for 30 seconds. That will take an EKG reading, which is shown in real-time on the Apple Watch, and you can email the reading to your doctor. How it works KardiaBand AliveCor The KardiaBand launching on Wednesday is actually the second version of the KardiaBand, Gundotra said. The first version launched shortly after its announcement in early 2016 , but it was only cleared in Europe. The version on sale in the United States is packaged with one big improvement called SmartRhythm. That part of the AliveCor Apple Watch app uses the wearable's built-in heart rate sensor to take readings every five seconds. The feature uses machine learning models running on the watch itself, according to the company. "We were able to run a deep neural network on the Apple Watch and keep it to 14 hours of battery life on the new Series 3 Watch," Gundotra said. "Apple deserves kudos for building such a platform that allows us I mean, I think we are the most advanced app ever built for the Apple Watch. " If SmartRhythm detects that your heart rate is unusual for example, it's unusually high and you're not on a run it will tell you to take an EKG test to get a more accurate reading. These software features aren't free, though. They're part of a premium subscription to AliveCor that costs $99 per year or $9.99 per month. Anyone using the KardiaBand also needs to subscribe to the premium service, which also provides unlimited storage for EKG readings and a mailed monthly report that users can bring to their doctors. The fact that AliveCor can operate in the medical world with doctors but at the same time produce medical and health gadgets for consumers is the startup's key advantage, Gundotra says. "The members of our team are people who build consumer products and so we know what it takes to run a product that a 55 year old can use. And it's not easy by the way," Gundotra said. "If you look at medical products, a defibrillator, the pacemaker that my father have, they don't show anything to the consumer. It's all hidden to the consumer. The DNA of AliveCor is very different." NOW WATCH: Some iPhone users can't type the letter 'i' here's what's going on and how to fix it See Also: Bitcoin just hit an all-time high here's how you buy and sell it Inside one of the most exclusive streets in San Francisco that a couple bought for $90,000 and was forced to return to the city DIGITAL HEALTH BRIEFING: Amazon to enter major healthcare partnership Apple Watch aids in treating depression IBM Watson shows its power in cancer study SEE ALSO: Apple is reportedly working to make the iPhone the central hub for all your health data || Fork talk lifts bitcoin to all-time high near $8,000: By Jemima Kelly LONDON, Nov 17 (Reuters) - Bitcoin hit an all-time high just below $8,000 on Friday, on talk that a software upgrade whose suspension sent the cryptocurrency into a tailspin at the end of last week was, after all, going ahead within hours. Talk that the upgrade - which could split or "fork" bitcoin into two versions - would go ahead was driven by a statement on the website of Coinbase, the world’s largest bitcoin company with operations in 32 countries. "The Bitcoin Segwit2x fork is expected to occur in the next six hours," it said in a statement published at 1004 GMT. If a bitcoin clone were created, any holders would also in theory instantly become owners of the new spin-off. Bitcoin, generally highly volatile, has been on a particularly wild ride, sliding at the end of last week to as low as $5,555 after plans for Segwit2x were suspended, before bouncing more than 40 percent since Sunday. It reached as high as $7,997 in early Asian trading on the Luxembourg-based Bitstamp exchange, before easing back a touch to trade broadly flat by 1115 GMT at $7,863. Market-watchers said speculation about the fork was driving bitcoin higher. If it went ahead as expected, holders of the cryptocurrency would be able to sell the spin-off at a profit if the market were to assign it any value. But in a post on the Medium blogging platform, the company's communications director David Farmer said Coinbase did not expect the fork to successfully split bitcoin in two, as it lacked the necessary support from the network to do so. "Whenever people hear 'fork' nowadays the price jumps, as people hope to get the free dividend," said Charles Hayter, founder of cryptocurrency data analysis site Cryptocompare. "There is also a resulting spike in demand for people entering bitcoin" from other cryptocurrencies. Farmer said the company was actively monitoring the situation and that all funds stored in Coinbase wallets remained safe. All bitcoin buying and selling would be suspended on Coinbase in the hour prior to the fork, which is expected between 1400 and 1600 GMT. Bitcoin is on track for its best week since July. For the year, it is up more than 700 percent. (Reporting by Jemima Kelly; editing by John Stonestreet) || Forex Trading Signals – December 15, 2017: Hello, traders, you’re watching the Primary Daily Trading Signals for Friday.
Euro/Dollar sees consistent results across the table, as it has exactly 5 neutral studies in the short, mid and long-term, and they indeed are in line with the less than 8% long interbank.
The Cable also has neutral signals prevailing in all three time ranges, with 6 neutral studies in the short-term, 5 in the mid-term and 5 in the long-term, and the technicals are supported by the less than 2% short interbank.
Bearish models prevail on Dollar/Yen’s 1 and 4-hour charts. The 24-hour scale turns neutral with 6 studies, but, in contrast, the interbank is bullish at more than 22% long.
Next up is the Pound/Yen with 5 bearish signals on both its short and mid-term charts. The daily outlook turns neutral with 5 studies, and they are confirmed by the less than 14% long interbank.
And Euro/Yen sees a contradicting mix of red and green signals on its hourly chart. The mid-term is overwhelmingly bearish, and the long-term sees 4 neutral studies, but the technicals are not backed up by the interbank, which is bullish at more than 40% long.
Thisarticlewas originally posted on FX Empire
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• Roy Moore vs. Doug Jones || Bitcoin claws back over $1,000 after losing almost a third of value: By Jemima Kelly LONDON (Reuters) - Bitcoin surged on Monday, recovering more than $1,000 after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency. Bitcoin tumbled in the second half of last week, falling as low as $5,555 on the Luxembourg-based Bitstamp exchange on Sunday, a slide of almost 30 percent from a record high just shy of $7,900 on Wednesday.. It rebounded on Monday, trading up more than 14 percent on the day at $6,718, though that was still more than $1,000 less than last week's record high. Market-watchers said the fall had been driven by a decision on Wednesday to abandon a planned software upgrade that could have split the cryptocurrency in a so-called "fork" - a move that had initially had a positive impact on the digital coin, sending it to a record high of $7,888 on the view that this marked a resolution of a long-term dispute. But some were disappointed that "Segwit2x" fork had been abandoned. It would have increased the capacity of the "blocks" transactions are processed in, thereby reducing competition to get payments processed and lowering transaction fees. Consequently, analysts said, some of those who see low fees as important to the future of bitcoin were selling it for a clone called Bitcoin Cash that spun off from the original in August. Its block sizes are larger, and therefore transaction fees are lower. Bitcoin Cash tripled in value at the end of the week as bitcoin slid, reaching an all-time high just below $2,000 on Sunda and briefly overtaking Ethereum as the world's second-biggest cryptocurrency. But traders bought back into the original bitcoin on Monday, sending Bitcoin Cash plummeting. It was trading down over 30 percent on the day at around $1,097, according to industry website Coinmarketcap. "Bitcoin and Bitcoin Cash will co-exist and serve different use cases, just like Bitcoin and Ethereum. It's not a zero sum game," bitcoin and security expert Andreas Antopolous said in a post on Twitter. Story continues Bitcoin is up more than 500 percent so far this year. (This version of the story was refiled to change headline to "claws back" from "rebounds" to avoid confusion) (Reporting by Jemima Kelly, editing by Larry King) || Should You Sell Everything and Buy Bitcoin Right Now?: Should investors sell everything — and, no, not just stocks and bonds — buteverythingand buy bitcoin? The obvious answer is a resounding “no,” but it makes you wonder what the potential is for cryptocurrencies and bitcoin prices.
Source: Shutterstock
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For the record, selling everything and buying bitcoin isprecisely what one family did. Didi Taihuttu, his wife and three children are all in it together. They’ve stuck with the so-called “strategy” for a few months and, so far, don’t regret it. They sold their cars, motorcycle and, yes, even their house and put it all in bitcoin. Some family members have called the Taihuttus crazy — and I agree with them!
Essentially, Mr. Taihuttu believes we’re still in the early stages of a currency revolution. “Money has to evolve, and it’s evolving now to cryptocurrency,” he says.
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While I wouldn’t recommend following directly in his footsteps, is Taihuttu right about currency evolution?
Click to Enlarge
Bitcoin is roughly six times as volatile as the S&P 500 — you can use theSPDR S&P 500 ETF Trust(NYSEARCA:SPY) for a close measure. That’s assuming the index’saveragevolatility, not the historically low volatility we’ve seen so far this year. Heck, the markets haven’t had a 5% correction inmore than a year, or even a 3% correctionin almost 8 months.
For a refresh on bitcoin prices, remember that they began the year at about $1,000. Now, though, the cryptocurrency is trading above $5,300. No big deal, just a casual 475% gain so far this year. Too bad Taihuttu didn’t sell everything last year!
While those gains are astronomical — and that’s not considering the near-47,000% return it’s had over the last five years — it masks the volatility bitcoin has been marred by as well. It fell more than 20% in two weeks in January and more than 25% in two weeks in March. On Sept. 1, bitcoin prices were near $4,950. Sept. 14? Bitcoin prices were at $3,250, a fall of 34%.
The bitcoin price chart has been bonkers, but to its credit and the credit of the bulls, it’s been sharply higher all year. Also to bitcoin’s credit, it’s not themost volatilename around. For example, the ethereum price chart completely lost its bottom, as the cryptocurrency plunged from $300 to a dime in a flash crash earlier this year.
If I knew that I wouldn’t be here. Because it can only be mined in limited quantities, there’s actual supply/demand metrics and a sort of “scarcity” with bitcoin. In that sense, it’s like gold. However, unlike gold, it doesn’t have thousands of years of historical significance — nor is it tangible.
I don’t know that bitcoin will change the world, but I also don’t think it’s the fraudJPMorgan Chase & Co(NYSE:JPM) CEO Jamie Dimon has called it. Fundstrat’s Tom Lee — who has been a total stud on the stock market over the last few years — said bitcoin prices could race to $20,000 by 2020.
Nowthat’sa bold call.
Right now, it just seems to be a situation of “who’s willing to pay more?” I don’t like being in those situations. But maybe I will prove to be the broke loser without any bitcoin in my virtual pockets. The wayVisa Inc(NYSE:V) andMastercard Inc(NYSE:MA) are pushing the world from cash and check to debit and credit, maybe 20, 30 or 50 years from now, bitcoinwillbe the currency of choice. Maybe itwillreplace the U.S. dollar as the staple of commerce. I know someone like my dad would never embrace bitcoin, nor would plenty of others. But younger generations will be more open, I’m sure.
If you find yourself heading to Alphabet Inc (NASDAQ:GOOGL, NASDAQ:GOOG) and Googling “how to buy bitcoin,” you should probably do some more research before finding a broker. Chinese regulations have smacked the cryptocurrency around quite a bit. Further regulations could cause similar short-term pains, especially as the U.S. and other countries start to embrace bitcoin.
The good news, though? It’s becoming regulated. Regulated markets are safer for their participants and while it can be painful in the short term, it may be the ticket to long-term gains.
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So, I can’t say that in 25 years we’ll be orderingMcDonald’s Corporation(NYSE:MCD) viaApple Inc.(NASDAQ:AAPL) iPhones and only paying with Bitcoin. But I don’t think it’s going away any time soon, either.
I’m not sure how long Taihuttu plans to live the bitcoin-only lifestyle, but I wish him luck. So far, he’s up on his move.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell held a long position in V and MA.
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The postShould You Sell Everything and Buy Bitcoin Right Now?appeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
bitcoin priceってゆうか、 || 1PR1AHccW...hDFXobGgH just won 0.000004 BTC in our Free #lottery. Try our free Lottery: https://yabtcl.com/freeLottery.aspx … #YABTCL #Bitcoin || This Sunday night, the CBOE Bitcoin futures market is firing up. The word on the Internet is the institutional money is planning to SHORT, which should dump the price of Bitcoin, then when all the scared money leaves, they will buy the cheap coins for a MASSIVE pump and LONG buy. || Presente e futuro del Bitcoin (Rolling Stone Italia) http://bit.ly/2yaDpWA pic.twitter.com/T669P6eJNK || 5 dolar düştü btc, satın satın satın || bitcoin priceってゆうか、 || Tiffany Haddishちゃんが || こんばんは。 bitcoin priceという || Bitcoin: Hebdo Crypto Bitcoin = Bulle ? Crypto- - http://cryptogeeks.com/bitcoin-hebdo-crypto-bitcoin-bulle-crypto … || こんばんは。 bitcoin priceという
|
Trend: down || Prices: 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60
|
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 2016-09-14]
BTC Price: 610.68, BTC RSI: 56.87
Gold Price: 1321.50, Gold RSI: 45.97
Oil Price: 43.58, Oil RSI: 43.39
[Random Sample of News (last 60 days)]
Your first trade for Wednesday, July 27: The " Fast Money " traders shared their first moves for the market open. Dan Nathan was a seller of Apple (NASDAQ: AAPL) . The iPhone maker had reported an earnings beat after Tuesday's close. Brian Kelly was a seller of the SPDR S&P Metals & Mining ETF (NYSE Arca: XME) . Karen Finerman was a buyer of Facebook (NASDAQ: FB) which is due to report quarterly numbers after Wednesday's close. Guy Adami was a buyer of Valero (NYSE: VLO) . Trader disclosure: On July 26, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Brian Kelly is long Bitcoin, DXJ, GLD, MOS, POT, SLV, US Dollar UUP; he is short CHF=, EUR=, JPY=. Karen Finerman is long AAL, BAC, C, DAL, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Dan Nathan is Long JD Aug call spread, Long TWTR, IWM long Sept put, XLF long Aug put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long C Aug put spread, XOP Sept put spread, TGT long Aug calls, TSLA long Aug put, BAC long Sept put, Long FEZ Nov put spread. Guy Adamiis long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. BGC Financial's Colin Gillis: No disclosures. SunTrust's Robert Peck: An affiliate of SunTrust Robinson Humphrey, Inc. has received compensation for non-securities services from Twitter (TWTR) within the last 12 months. More From CNBC Top News and Analysis Latest News Video Personal Finance || Coinbase offers digital currency to consumers: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it is now offering the ether digital currency to consumers. Ether is the digital currency for the Ethereum platform, a blockchain, or public database that can be used by consumers or corporations without the need for control by intermediaries. Ethereum, which uses ether to execute peer-to-peer contracts automatically, was co-founded and invented by 22-year old Russian-Canadian programmer Vitalik Buterin. "Ethereum is still in an early and experimental phase, and as it matures will likely evolve to serve a different purpose than Bitcoin," said Ankur Nandwani, product manager at Coinbase, in a blog posted on the company's website. "In the meantime, Ethereum is pushing the digital currency ecosystem forward and we are excited to support it as part of our mission to create an open financial system for the world." The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays, and other global corporations which are trying to explore the Ethereum network. Nandwani said consumers in 32 countries can now buy, sell, and store in their Coinbase accounts. In May, ether trading was added to its digital currency exchange called GDAX (Global Digital Asset Exchange). That trading platform is focused on institutional investors and professional traders. According to coinmarketcap.com, ether is trading at $12.64 late on Thursday, with a market capitalization of about $1.04 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $10.48 billion and trading at $664.85. Volume for ether over the last 24 hours was around $25.7 million, while that for bitcoin was $61.2 million. At the beginning of the year, ether traded at just $1 per token and it is one of the fastest-rising digital currencies. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Andrew Hay) || Your first trade for Wednesday, September 14: The "Fast Money" traders shared their first moves for the market open.
Pete Najarian was a buyer of Lululemon(LULU).
Dan Nathan was a seller of the Financial Select Sector SPDR Fund(NYSE Arca: XLF).
Brian Kelly was a seller of the iShares MSCI Emerging Markets ETF(NYSE Arca: EEM).
Guy Adami was a buyer of Allergan(AGN).
Trader disclosure: On September 13, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian was longAAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, VIAB; Long Calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, CYH, DISH, DVN, EGO, ETP, FSLR, FXI, GLD, GS, HALO, JBLU, KGC, KMI, KO, LLY, LULU, M, MS, MT, NEM, SBUX, SLV, SWKS, SYMC, TGT, TWTR, TTS, UA, VRX, XLE Long Puts: CLV, MBLY, MRO, TSLA, EEM. Brian Kelly was long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=. Dan Nathan was long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, Long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread, long XLK Jan put spread. Guy Adami was long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || If you follow Warren Buffett's methodology, stocks are significantly overvalued: When I turned bearish in January 2016 I missed three critical elements that caused the S&P 500 to grind toward record highs. First, a sufficient number of other investors did not share my skepticism about the global economy. Second, I misjudged investor faith in central bankers. Third, I underestimated the continued global appetite for yield bearing stocks. However, in recent days a host of big money investors have been vocally bearish. Does this mean the herd is turning and that I may have just been early? Perhaps, but what are these investors seeing that has led them to embrace my skepticism? Risk versus reward.
Big money understands that investing is more about balancing risk and reward than about being "right." Investing is a game of probability, and since nobody has a crystal ball, the best we can all do is make educated guesses and place bets when the odds are in our favor. The odds may no longer be in equity investor's favor.
Warren Buffett is one of the biggest investors in the world and his preferred method for valuing the stock market is now suggesting that U.S. stocks are significantly overvalued. Buffett has stated that using Total Market Capitalization to GDP is "probably the best single measure of where valuations stand at any given moment." For those who want to dig deeper into this valuation metric the websiteGurufocus.comis a great resource.
Currently, the ratio of Total Market Cap (as measured by the Wilshire Total Market Index(NYSE Arca: .W5000FLT)) to GDP is 121 percent. There is only one other time since 1971 that this ratio has registered such an overvalued reading…that was in December of 2000. Moreover, GuruFocus has tracked market returns using this indicator and at current levels it suggests the total expected yearly return for U.S. stocks is 0.1 percent, including dividends. The current dividend yield is roughly 2.04 percent, which means this indicator is forecasting that stocks will fall by 2 percent over the next year.
Think about that for a minute. The preferred valuation metric of the world's most successful and wealthiest investor is suggesting that there is little to no upside for stocks. When big money tries to calculate the risk of investing against the reward, a negative return will simply not compute. To my mind, this could be the reason that the likes of high-profile investors Jeff Gundlach and Bill Gross have suggested either selling everything or buying gold.
In addition to the lack of reward, faith in the ability of central bankers to manufacture an economic recovery is being challenged. Over the last few trading sessions the yield on Japanese government bonds have jumped the most since 2013. In the aftermath of the 2013 Japanese yield spike the Japanese stock market fell more than 7 percent
Will history repeat?
Japanhas been the laboratory for experimental monetary policy for the better part of 20 years. Recently the head of theBank of Japancalled for a review of current policy to be released in September. The market reaction to this anticipated review has been decidedly negative. The implication is that investors fear the Bank of Japan will admit defeat and no longer engage in market manipulation. I personally have my doubts that it will abandon its policies, but the crisis of faith is catalyst enough for investors to sell. Yet another reason big money is turning bearish.
Finally, the search for yield is showing signs of coming to an end. Since the February 2016 market lows, the iShares Select Dividend ETF(NYSE Arca: DVY)(DVY) is up 17.5 percent, but interestingly the lower yielding Spyders ETF(NYSE Arca: SPY)(SPY) is up 18.23 percent. To be sure the outperformance of the lower yielding SPY is a recent phenomenon, but cracks in the foundation are appearing.
Big money is turning bearish because the reward does not justify the risk. The market cap of U.S. stocks has far exceeded the value of GDP, typically a sign of negative stock market returns. The recent spike in Japanese yields has shaken investor faith in omnipotent central bankers, while the horn is blowing "Going Home" on the hunt for yield.
For a few weeks in February my bearish view was accurate, but the fullness of time has proved I miscalculated the skepticism of others, the faith in central bankers and when the hunt for yield would end. Perhaps the recent growls from prominent investors is a signal that the herd is turning, but the truth is only time can tell. What is clear to me is that the risk of owning stocks is simply not justified by the reward. I continue to remain defensive on U.S. equities and share the bullish view on gold.
Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World."Kelly, a CNBC contributor, often appears on "Fast Money." Follow him on Twitter@BKBrianKelly.
For more insight from CNBC contributors, follow@CNBCopiniononTwitter. || Cable & Wireless Partners With Ericsson and Cisco to Enhance Its Caribbean IP Networks: MIAMI, FL--(Marketwired - Aug 30, 2016) - C&W Communications invests in new network that will serve as backbone for IPTV services, fixed operations and part of business-to-business services Ericsson and Cisco will deliver an IP/MPLS network for C&W in three markets: the Bahamas, Jamaica and Barbados An IP backbone network in the Bahamas will be upgraded to support traffic growth and improve performance on the fixed network Ericsson ( NASDAQ : ERIC ) and Cisco ( NASDAQ : CSCO ) today announced an agreement to supply and install IP networks for C&W Communications , which operates the retail brand Flow, in three Caribbean markets. The plans include an upgrade to the IP backbone network in the Bahamas to improve performance and support an increase of traffic, and a new business-to-business IP/MPLS network in Jamaica and Barbados. The partnership is part of C&W's investment plan for the region to continue transforming its customer experience. As part of the partnership, Cisco will provide the necessary hardware while Ericsson will provide project management services. "We needed a powerful and intelligent solution to bring IP networking to both Jamaica and Barbados, while at the same time improving the IP network in the Bahamas," says Carlo Alloni, Executive Vice-president and CTIO, C&W. "This partnership will allow us to offer even more value-added services including our world class IPTV services as well as introduce more innovative solutions to our customers." "Our teams complemented each other with the right approach, from network analysis and planning to systems integration and customer support from Ericsson, to selecting the right routers and switches from Cisco, and finally ensuring the right flow along every step with Ericsson services," says Clayton Cruz, Vice President Ericsson Latin America and Caribbean. "The partnership has delivered real value to Cable & Wireless in terms of accelerating their IP transformation by combining end-to-end business transformation competence and experience with deep product and domain expertise." Story continues The deal includes Cisco® routers and switches (ASR9000, ASR900 and WR4500 families), supply and installation of NMS system (EPN-M), overall project management, and customer support. "Cisco and Ericsson working together have the combined breadth, depth and lifecycle engagement required to help operators like Cable & Wireless succeed in their transformation to an IP-centric network," says Jordi Botifoll, Cisco President Latin America & Senior Vice President in the Americas. "Working together on this project will lead Cable & Wireless to a standardized approach across other markets, so that all their business-to-business and IP fixed networks will be supported by IP/MPLS, helping them do things better and faster." Ericsson and Cisco -- two industry leaders in the development and delivery of networking, mobility, and cloud -- formed a global business and technology partnership in November 2015 to create the networks of the future. The partnership offers customers the best of both companies: routing, data center, networking, cloud, mobility, management and control, and global services capabilities. The next-generation strategic partnership will drive growth, accelerate innovation, and speed digital transformation demanded by customers across industries. The first product from the partnership, Ericsson Dynamic Service Manager, was announced in February 2016. To date, over 200 active customer engagements have now started to turn into won deals. Multiple deals, spread around the world, are in IP (routing and transport) and services. The companies announced deals with 3 Italy, Vodafone Portugal and Aster Dominican Republic earlier this year. The Cisco-Ericsson partnership has been cleared by Brazilian regulatory authorities and will be implemented there under local agreements. NOTES TO EDITORS Ericsson and Cisco team up for next generation Network Service Management For media kits, backgrounders and high-resolution photos, please visit www.ericsson.com/press Ericsson is the driving force behind the Networked Society -- a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future. Our services, software and infrastructure -- especially in mobility, broadband and the cloud -- are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities. With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world's mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions -- and our customers -- stay in front. Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York. www.ericsson.com www.ericsson.com/news www.twitter.com/ericssonpress www.facebook.com/ericsson www.youtube.com/ericsson About Cisco Cisco ( NASDAQ : CSCO ) is the worldwide technology leader that has been making the Internet work since 1984. Our people, products, and partners help society securely connect and seize tomorrow's digital opportunity today. Discover more at newsroom.cisco.com and follow us on Twitter at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks . About C&W Communications CWC is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. CWC also operates a state-of-the-art submarine fiber network -- the most extensive in the region -- in over 30 markets. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband internet and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Direxion Adds News ETFs, Reverse Splits 4 ETFs, Forward Splits 5 ETFs: Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, announced Wednesday it has added two new ETFs to its existing lineup of leveraged and inverse ETFs. The Direxion Daily European Financials Bull 2X Shares (Ticker: EUFL) seeks to achieve 200% of the daily performance of the MSCI Europe Financials Index. Meanwhile, The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100% of the inverse of the daily performance of the NYSE Arca Gold Miners Index. Direxion_Daily Sylvia Jablonski, Managing Director at Direxion, said the company had recently seen instability in European markets, with the post-Brexit effect yet to subside as political and economic uncertainties remain. The launch of the European Financials leveraged ETF is timely, as market reaction to the EU situation presents the chance for bullish traders to magnify their short-term perspective, Jablonski said. Our new Gold Miners bear ETF will complement the existing suite of ETFs tracking that space, to give traders another option for taking advantage of short-term opportunities. Direxion Announces Reverse and Forward Share Splits of Nine Leveraged ETFs Direxion also announced it will execute reverse share splits for four of its leveraged exchange-traded funds, as well as forward share splits for another five leveraged ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below. Four Reverse Splits Direxion will execute a 1-for-4 reverse split of the Direxion Daily Natural Gas Related Bear 3X Shares (GASX) . The firm will also execute a 1-for-5 reverse split of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP) , Direxion Daily Gold Miners Index Bear 3X Shares (DUST) and Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) . The splits are effective at the open of the market on Aug. 25, 2016. Story continues A summary of the four ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective Aug. 25, 2016): Direxion_Reverse_Splits As a result of this reverse split, every four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value (NAV) and next days opening market price will be approximately four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the NYSE Arca) on a split-adjusted basis on Aug. 25, 2016. The next days opening market value of the Funds issued and outstanding shares, and thus a shareholders investment value, will not be affected by the reverse split. Trending on ETF Trends Nasdaq Adds Big Q2 Haul of New ETP Listings, Switches ARK Launches ETF Solely Focused on 3D Printing SolidX Reveals Plan to Launch a Bitcoin ETF A Big Day for ETFs as 5 Sponsors Launch New Products OLearys OShares Seeks Big Additions to its ETF Lineup Five Forward Splits Additionally, Direxion will execute forward splits of the Direxion Daily Brazil Bull 3X Shares (BRZU) , Direxion Daily Real Estate Bull 3X Shares (DRN) , Direxion Daily 20+ Treasury Bull 3X Shares (TMF) , Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) and the Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) . After the close of the markets on Aug. 24, 2016 (the Payable Date), each Fund will affect a split of its issued and outstanding shares as follows: Direxion_Daily_Markets As a result of these share splits, shareholders of each Fund will receive an additional four, five or 10 shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Funds issued and outstanding shares will increase by the approximate percentage indicated above. All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the NYSE Arca) on Aug. 23, 2016 (the Record Date), payable after the close of the NYSE Arca on the Payable Date. Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on Aug. 25. 2016 (the Ex-Date). Related: Direxions New Bearish Junk Bond ETF to Hedge Market Risks On the Ex-Date, the opening market value of each Funds issued and outstanding shares, and thus a shareholders investment value, will not be affected by the share split. However, the per share net asset value (NAV) and opening market price on the Ex-Date will be approximately one-fourth, one-fifth or one-tenth for the Funds. The tables below illustrate the effect of a hypothetical 4-for-1, 5-for-1 and 10-for-1 split on a shareholders investment. Click here to read the full story on ETF Trends. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product. || 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 || THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem: Payments Ecosystem (BI Intelligence) The way we pay is changing dramatically. For example, people are beginning to use their smartphones for every kind of formal and informal transaction — to shop at stores, buy songs online, and even split their rent. At the heart of these changes in how we pay are thousands of companies competing and collaborating to facilitate transactions. To understand why the payments industry has faced so much disruption in such a short time, there's just one key thing to understand: Payments is about transferring information from one party to another, and nearly every stakeholder in the industry benefits when that process runs on digital rails. But payments is also an extremely complex industry that few fully understand. In BI Intelligence's 2016 Payments Ecosystem report, we make it simple, explaining how it works, who the key players are, and where it's headed. In this latest edition of the report, BI Intelligence drills even further into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. Story continues In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. The Payments Ecosystem Report : Everything You Need to Know About The Next Era of Payment Processing is the only place you can get the full story on the rapidly-evolving world of payments. To get your copy of this invaluable guide to the payments industry, choose one of these options: BEST VALUE : Join our BI Intelligence INSIGHTS service level and gain immediate access to this report PLUS much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT More From Business Insider This finance trend is so hot even Amazon wants in THE FINTECH REGULATION REPORT: How European regulators are creating fertile ground for fintech growth The fintech ecosystem explained || Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong: By Clare Baldwin
HONG KONG (Reuters) - Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange.
Bitfinex is the world's largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair.
Zane Tackett, Director of Community & Product Development for Bitfinex, told Reuters on Wednesday that 119,756 bitcoin had been stolen from users' accounts and that the exchange had not yet decided how to address customer losses.
"The bitcoin was stolen from users' segregated wallets," he said.
The company said it had reported the theft to law enforcement and was cooperating with top blockchain analytic companies to track the stolen coins.
Last year, Bitfinex announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals.
"Our investigation has found no evidence of a breach to any BitGo servers," BitGo said in a Tweet.
"With users' funds secured using multi-signature technology in partnership with BitGo, a lot more is at stake for the backbone of the bitcoin industry, with its stalwarts and prided tech under fire," said Charles Hayter, chief executive and founder of digital currency website CryptoCompare.
The security breach comes two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies.
BITCOIN SLUMP
Tuesday's breach triggered a slump in bitcoin prices and was reminiscent of events that led to the 2014 collapse of Tokyo-based exchange Mt Gox, which said it had lost about $500 million worth of customers' Bitcoins in a hacking attack.
Bitcoin plunged just over 23 percent on Tuesday after the news broke. On Wednesday it was up 1 percent at $545.20 on the BitStamp platform.
Tackett added that the breach did not "expose any weaknesses in the security of a blockchain", the technology that generates and processes bitcoin, a web-based "cryptocurrency" that can move across the globe anonymously without the need for a central authority.
A bitcoin expert said the scandal highlighted the risks of companies using cryptography for their ledgers.
"The more you rely on its benefits, the greater the potential for damage when keys are stolen. We still have some way to go to create highly secure but convenient systems," said Singapore-based Antony Lewis.
The volume of bitcoin stolen amounts to about 0.75 percent of all bitcoin in circulation.
It is not yet clear whether the theft was an inside job or whether hackers were able to gain access to the system externally. On an online forum, Bitfinex's Tackett said he was "nearly 100 percent certain" it was no one in the company.
Bitfinex suspended trading on Tuesday after it discovered the breach. It said on its website that it was investigating and cooperating with the authorities.
The security breach is the latest scandal to hit Hong Kong's bitcoin market after MyCoin became embroiled in a scam last year that media estimated could have duped investors of up to $387 million. The bitcoin trading company closed after the scandal.
The president of the Hong Kong Bitcoin Association said the only way to protect information is to disperse it in so many small pieces that the reward for hacking is too small.
"For an attacker, the cost-benefit strategy is quite easy: How much is in the pot and how likely is it that I'm getting the pot?" said Leonhard Weese.
(Additional reporting by Hera Poon in HONG KONG, Jeremy Wagstaff in SINGAPORE and Jemima Kelly in LONDON; Editing by Will Waterman) || 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 :info@LBOCorp.com
SOURCE:Leveraged Buyout Corporation
[Random Sample of Social Media Buzz (last 60 days)]
Just remembered we did the Bitcoin quizzes close to a year ago. Can you get 100% on the hard one?: ... http://cur.lv/11mnjb #bitcoin || $587.50 #GDAX;
$576.13 #bitstamp;
$576.50 #btce;
$567.00 #OKCoin;
$581.19 #itBit;
$582.68 #kraken;
#bitcoin news: http://bit.ly/1VI6Yse || 1 BTC Price: BTC-e 574 USD Bitstamp 574.00 USD Coinbase 597.97 USD #btc #bitcoin 2016-08-04 00:30 pic.twitter.com/aA9kSpWziS || #UFOCoin #UFO $0.000011 (0.31%) 0.00000002 BTC (-0.00%) || Bitcoin、Litecoin、DASH、Monacoinを完全匿名で現金で個人間で簡単に対面売買することができるサイト、btc-trade-p2pの運営をしております。
#暗号通貨 #bitcoin #BTC #ビットコイン
http://btctrade.web.fc2.com || #598 Hundredcoin BTC:฿0.00 USD:$0.00000199 Market Cap:$ 65.103574545 Supply:32,773,500 HUN http://dlvr.it/M1qFwX || Bitstamp: $576.00
Bitfinex: $581.75
Coinbase: $580.21
Get a #Bitcion loan today https://goo.gl/smQBq1
#btc #FreeBitcoin || This one btc told me 120 but her class to learn how to do them is 150 btc I might as well come to the class tf || Buying bitcoins can be delicious at https://Bittylicious.com/refer/2465 £475.00 per BTC. (BPI +5.03%) #buy #bitcoin #banktrans || #UFOCoin #UFO $0.000018 (44.37%) 0.00000003 BTC (50.00%)
|
Trend: no change || Prices: 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84, 602.62
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-07-11]
BTC Price: 2337.79, BTC RSI: 39.28
Gold Price: 1213.60, Gold RSI: 33.73
Oil Price: 45.04, Oil RSI: 47.69
[Random Sample of News (last 60 days)]
The controversial 'fiduciary rule' is a problem for T. Rowe Price; sell the stock, UBS says: UBS lowered its rating for T. Rowe Price(NASDAQ: TROW)to sell from buy, predicting the government's fiduciary and fee transparency rules will hurt its earnings results next year."While TROW is negatively impacted by the DOL [Department of Labor] fiduciary rule, we view the 2010 DOL rule that increased transparency into 401(k) fees as the underappreciated threat," analyst Brennan Hawken wrote in a note to clients Wednesday. "TROW has a solid domestic franchise with strong investment performance but we see these positives as more than offset by the overhang from the DOL rule, headwinds from corporate 401k lawsuits, and shift towards passive."The new fiduciary rule, which requires advisors to act in the best interests of clients, willtake effectnext month, but then may later be amended.Hawken lowered his price target for T. Rowe Price to $61 from $77, representing 14 percent downside from Tuesday's close.The analyst cited how outflows from the company's target date retirement funds (TDF), which represent 24 percent of the firm's asset under management, are "just beginning." He estimated T. Rowe Price lost more than $2 billion of assets in TDF funds during April.As a result, Hawken lowered his 2018 earnings-per-share estimate for T. Rowe Price to $4.75 from $5.15 compared with the $5.16 Wall Street consensus."Lawsuits stemming from the 2010 DOL rule that increased transparency into 401(k) fees have accelerated in recent years and now there are signs that the trial bar is widening its targets to include smaller plans, which comprise the core of TROW's retirement offering," he wrote.
— CNBC'sMichael Bloomcontributed to this story.
More From CNBC
• Bitcoin surges to record above $2,400, bringing 2017 gain to nearly 150%
• The race to $1,000 – Alphabet and Amazon hit new record highs
• Weak tourism sales spell trouble for Tiffany; shares sink 8% || Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback?: InvestorPlace - Stock Market News, Stock Advice & Trading Tips A few weeks ago, we said that it was “Do or Die Time” for Advanced Micro Devices, Inc. (NASDAQ: AMD ). At that time, shares took a dive from earnings, rallied on rumors of a deal with Intel Corporation (NASDAQ: INTC ) and fell when doubts came along. At that point, AMD stock was just above support and we weren’t sure if it would hold. AMD Stock: Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback? Source: Matthew Rutledge via Flickr From our perspective, the bulls were still in control, but barely. If the $10 level were to fail, bears would seize control. That didn’t happen though, as AMD stock put together a more than 13% rally over the past three days . So what should investors do? We’ll get to the technical outlook in a moment, but first, let’s touch on the fundamentals. Inside Advanced Micro Devices Why did AMD stock get such a strong bounce in early June? Two reasons really drove it higher. The first, it became known that Advanced Micro Devices’ RX 500 graphic chips can be used to “mine” cryptocurrencies like Bitcoin . This product launched in April and is still sold out at many online retailers. This has investors optimistic that revenue will be strong and demand will continue once retailers are able to restock. Given Bitcoin’s bubble-like rise , the mania certainly looks set to continue for some time. Additionally, Apple Inc. (NASDAQ: AAPL ) just held an enormous event, its WWDC conference. Aside from big announcements regarding the HomePod speaker, a new iOS and everything here , there was something else for AMD. Investors are cheering for AMD’s RX Vega GPU. Specifically, that the iMac Pro will use one of two types from the Vega lineup , the Radeon Pro Vega 56 or the Radeon Pro Vega 64. Both are quite powerful and will be the driving computing force in Apple’s new devices. The effort likely comes on Apple’s part of trying to boost its virtual reality capabilities. Advanced Micro Devices’ recent additions bode well for its business moving forward. Management is returning the company to profitability in 2017, which is a lot harder than it sounds. Over the past nine months, debt has fallen 37% and its valuation (compared to Nvidia Corporation (NASDAQ: NVDA ) and Intel) is attractive. Trading AMD Stock AMD stock, AMD, Advanced Micro Devices Click to Enlarge Source: Stockcharts.com So where does that leave AMD stock? I’m a levels-guy first, meaning I look for historic areas of support and resistance. I like to keep it simple. In Advanced Micro Devices’ case, that level comes into play around $12.25. On Tuesday, AMD made it to $12, but it was unclear if it would climb above it. On Wednesday, AMD stock flew past it, up to $13 at one point. Story continues AMD stock is now above the 50-day moving average too. And even though it gave up the bulk of its gains on Wednesday with that instant pullback from $13, it was a constructive move. Finally, there’s the relative strength index and the MACD. The RSI (blue circle) tells us if a stock is overbought when the reading is above 70. Fortunately, AMD stock is not in this territory yet. MACD tells us momentum. For AMD, momentum is positive, but appears to be nowhere near running out of gas. Both of these indicators are bullish. Why Facebook Inc (FB) Stock Is Heading to $170 So are there negatives? Yes, a few. Although not pictured, AMD has not gotten above its 100-day moving average. Additionally, the two red stars on the chart mark where AMD stock has struggled, failing to clear $13. Given the strong volume the past few days, it is more likely the stock trades higher rather than lower. A move below $12 and the 50-day moving average may change that. But like we said a few weeks ago, for now, AMD stock is still running with the bulls. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . As of this writing, Bret Kenwell held no position in any stocks mentioned. More From InvestorPlace 8 No-Brainer Retirement Stocks to Buy 10 Best Cheap Stocks to Buy Now Under $10 Citigroup Inc (C) Stock Is an Underappreciated Breakout Buy The post Is Advanced Micro Devices, Inc. (AMD) Stock on a Comeback? appeared first on InvestorPlace . View comments || Disney's Iger says hackers claim to have stolen upcoming movie - Hollywood Reporter: (Reuters) - Walt Disney Co (DIS.N) Chief Executive Bob Iger has revealed that hackers claimed to have access to an unnamed upcoming movie and have demanded a ransom, the Hollywood Reporter said on Monday. Iger made the comments during a town hall meeting with ABC employees in New York City, the Hollywood Reporter said, citing multiple sources. The hackers have demanded that a huge sum be paid on Bitcoin, but Disney has refused to pay, the publication said. Disney was not immediately available for comment. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila) || First Bitcoin Capital Corp to Buyback Shares Utilizing the ICO -Internet of Money (XOM) It Acquired From Active CrowdSale; $BITCF’S ALTCOIN ICO Success Results In Revenues For Second Quarter 2017; Completes Move Of Common Shares From Its Own Blockchain To The Bitcoin Blockchain: VANCOUVER, BC / ACCESSWIRE/ July 3, 2017 /CoinQX Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company", "We", "Us" or "Our") acquired the "Internet of Money" tokens which should eventually trade under the cryptocurrency symbol "XOM" from an Initial Coin Offering (ICO) which continues to run on the Omni Layer Protocol.
Not unlike many of the cryptocurrencies that First Bitcoin Capital Corp has generated, including its first ICO -Altcoin (ALT), the Internet of Money (XOM) coins ride on the rails of the Bitcoin Blockchain utilizing the Omni Layer Protocol.
As a result of this crowd-sale acquisition we will allow BITCF shareholders to exchange their shares for XOM. While XOM is not yet traded against any other digital or fiat currency, the buyback will be executed at a rate of 2 BITCF shares for 1 XOM token.
This offer is open to shareholders so long as our supply of XOM tokens is sufficient to accommodate those shareholders wishing to make the exchange. The shareholders that elect to make this exchange will be granted a 5 years option to exchange back to shares at the rate of 1 XOT token to 1.9 BITCF shares during the first year, 1.8 BITCF shares the second year, 1.7 shares BITCF the third year, 1.6 BITCF shares the fourth year and 1.5 BITCF shares the final and fifth year.
In order to participate, shareholders will receive further details by notifying us of the amount of shares they would like to exchange via email:info@bitcoincapitalcorp.com
The company reserves the right to close out this buyback offer on or before July 18 2017.
REVENUES anticipated in the second quarter.
The Company is pleased to announce that its first ICO, Altcoin (ALT) has generated substantial revenues. First Bitcoin earned 13,406.27953322 ALT tokens which is currently valued at approximately $300,000 today according toCoinmarketcap.comand should this value hold up at day's end it will substantially increase the company's digital cash reserves as well as contribute to net earnings.
NEW BLOCKCHAIN FOR COMMON SHARES
The Company also completed moving trading of its cryptoshares onto a new blockchain using a managed protocol. This is a significant move because it not only ends mining which resulted in unnecessary dilution but adds BIT as an independent cryptocurrency to the company's coffers and potentially of tremendous value as an added asset. See:https://c-cex.com/?p=bitcf-btc
About The Company
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets under development:
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.altcoinmarketcap.commarket capitalization for all cryptocurrencies with up and down voting by altcoin communities.
www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second OMNI wallet owned by CoinQX reflecting our airline mileage tokens issued:http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor
visithttp://www.bitcoincapitalcorp.com
Follow us on Twitter.com for updates:https://twitter.com/First_Bitcoin
Facebook link:https://www.facebook.com/BITCF/
SOURCE:First Bitcoin Capital Corp. || Now I get it: Ransomware: On May 12, a computer worm called WannaCry began infecting over 300,000 Windows computers in 150 countriesand made headlines around the world. Heres what you need to know. Meet ransomware Why the headlines? First, because WannaCry is one of the most widespread cases of ransomware software that encrypts all of the files on your PC, and will not unlock them until you pay the bad guys. In WannaCrys case, youre supposed to pay $300 within three days; at that point, the price goes up. If you still havent paid in a week, all your files are gone forever. ( Heres what it looks like if youre infected.) (Why cant the authorities just track who the moneys going to, and thereby catch the bad guys? Because you have to pay in Bitcoin, which is a digital currency whose transactions are essentially anonymous. Heres my explainer on Bitcoin .) The second notable feature: The WannaCry malware took advantage of a security hole in Windows that had already been discovered by the U.S. National Security Agency (NSA). But instead of letting Microsoft ( MSFT ) know what it had found, the NSA kept it a secret and, in fact, decided to write a virus of its own to exploit it. Ransomware is nasty . Theres no way out, no fix. And even if you pay up, theres no guarantee youll get your files back; some of these ransomware people take your money and run. (Why cant these low-life hackers have more of a sense of decency?) How security holes get patched So why doesnt Microsoft fix Windowss security holes? It doesall the time. For example, if you have Windows 10, youre safe from WannaCry. And even if you have Windows 7 or 8, and you accept Microsofts steady flow of software updates, youre fine, too; Microsoft patched this hole back in March. The only people vulnerable to WannaCry are people running old versions of Windows, and people who dont keep their Windows updated with Microsofts free patches. Heres the real irony: Typically, a researcher discovers a security hole in Windowsand quietly tells Microsoft. Microsofts engineers write and release a patchfor a hole the hackers hadnt known about before. But the bad guys know that millions of people wont install that patch. So they write the virus after Microsoft has fixed the hole! They get the idea from the fix. Story continues In any case, ransomware loves to target corporate networks: hospitals, banks, airlines, governments, utility companies, and so on. These are places that often dont regularly update their copies of Windows. (Lots of them still run Windows XP, which is 16 years old. Microsoft no longer supports Windows XP, but to its credit, it has written and released a patch to prevent WannaCry for Windows XP, too.) How not to get ransomware If youd rather not get a ransomware infection on your PC, heres what to do. Back up your computer. I know you know. But only 8% of people backup daily , according to a 2016 poll of over 2,000 people. For $74, you can get a 2-terabye backup drive , and use your PCs automatic backup software. Thereafter, if your files get locked by ransomware, you lose only a couple of hours as you restore from your backup. (For best results, keep the backup drive detached when youre not using it, since some ransomware seeks out other connected drives.) Turn on automatic updating of Windows. Get those patches before the bad guys do. Dont open file attachments youre not expecting . Even if they seem to come from people you know. Dont open zip files that come by email. Dont ever click links that seem to be from your bank, or Google, or Amazon; theyre just trying to trick you into giving them your passwords. Heres my explainer on those phishing scams. Backup, turn on updating, dont open email attachments youre not expecting. This has been a public service message. More from David Pogue: Inside the Worlds Greatest Scavenger Hunt: Part 1 Part 2 Part 3 Part 4 Part 5 Google Homes mastermind has no intention of losing to Amazon Google exec explains how Google Assistant just got smarter Amazons Alexa calling is like a Jetsons version of the home phone || 'Accidental hero' finds kill switch to stop spread of ransomware cyber-attack: Move by @malwaretechblog came too late to help those in Europe and Asia, but people in the US were given more time to develop immunity to the attack Cyber-attack hits dozens of countries – live updates Massive ransomware cyber-attack hits 74 countries around the world The spread of WannaCry ransomware wreaked havoc on organizations including the UK’s National Health Service (NHS). Photograph: Carl Court/Getty Images An “accidental hero” has halted the global spread of the WannaCry ransomware that has wreaked havoc on organizations including the UK’s National Health Service (NHS), FedEx and Telefonica. A cybersecurity researcher tweeting as @malwaretechblog , with the help of Darien Huss from security firm Proofpoint, found and implemented a “kill switch” in the malicious software that was based on a cyber-weapon stolen from the NSA. The kill switch was hardcoded into the malware in case the creator wanted to stop it from spreading. This involved a very long nonsensical domain name that the malware makes a request to – just as if it was looking up any website – and if the request comes back and shows that the domain is live, the kill switch takes effect and the malware stops spreading. Of course, this relies on the creator of the malware registering the specific domain. In this case, the creator failed to do this. And @malwaretechblog did early this morning (Pacific Time), stopping the rapid proliferation of the ransomware. “They get the accidental hero award of the day,” said Proofpoint’s Ryan Kalember. “They didn’t realize how much it probably slowed down the spread of this ransomware.” The time that @malwaretechblog registered the domain was too late to help Europe and Asia, where many organizations were affected. But it gave people in the US more time to develop immunity to the attack by patching their systems before they were infected, said Kalember. The kill switch won’t help anyone whose computer is already infected with the ransomware, and and it’s possible that there are other variances of the malware with different kill switches that will continue to spread. The malware was made available online on 14 April through a dump by a group called Shadow Brokers, which claimed last year to have stolen a cache of “cyber weapons” from the National Security Agency (NSA). Ransomware is a type of malware that encrypts a user’s data, then demands payment in exchange for unlocking the data. This attack was caused by a bug called “WanaCrypt0r 2.0” or WannaCry , that exploits a vulnerability in Windows. Microsoft released a patch (a software update that fixes the problem) for the flaw in March, but computers that have not installed the security update remain vulnerable. I will confess that I was unaware registering the domain would stop the malware until after i registered it, so initially it was accidental. — MalwareTech (@MalwareTechBlog) May 13, 2017 The ransomware demands users pay $300 worth of cryptocurrency Bitcoin to retrieve their files, though it warns that the “payment will be raised” after a certain amount of time. Translations of the ransom message in 28 languages are included. The malware spreads through email. Story continues “This was eminently predictable in lots of ways,” said Ryan Kalember from cybersecurity firm Proofpoint. “As soon as the Shadow Brokers dump came out everyone [in the security industry] realized that a lot of people wouldn’t be able to install a patch, especially if they used an operating system like Windows XP [which many NHS computers still use], for which there is no patch.” Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 74 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt. In Spain, major companies including telecommunications firm Telefónica were infected. By Friday evening, the ransomware had spread to the United States and South America, though Europe and Russia remained the hardest hit, according to security researchers Malware Hunter Team. The Russian interior ministry says about 1,000 computers have been affected. View comments || Tesla could be the next Amazon, says Gene Munster: Tesla(NASDAQ: TSLA)could be the next Amazon(NASDAQ: AMZN), Gene Munster, co-founder and managing partner of Loup Ventures, told CNBC on Friday. The former Piper Jaffray tech analyst turned venture capitalist is best known for his accurate predictions on Apple(NASDAQ: AAPL).
DespiteAmazon shares nearing the $1,000 milestone, a record high for the company, the investor says he likes Tesla better. "Tesla is a controversial story," Munster said on "Squawk on the Street." "People don't understand what this company's mission statement is," he said. Much like Amazon in its early days when the company was 'just' selling books, he said.
"Most people think of [Tesla] as an electric car company, but their mission statement is to accelerate the globe's transformation to renewable energy, " he said. "When you start thinking about that you can see them grabbing market cap from energy companies which are some of the largest market-cap companies," said Munster.
Tesla's market capitalization was about $53 billion on Friday morning while Amazon's was nearly $475 billion. In the energy sector Exxon Mobil(NYSE: XOM)'s market cap was more than $345 billion. AMZN shares have risen by nearly 39 percent over the last year while TSLA has climbed by about 43 percent and XOM has dropped more than 9 percent.
Elon Musk's vision for Tesla will require a lot of capital but Munster says he thinks the company will get there. And while Amazon is the tech stock of the moment, there are limitations to its growth, he said. One of those limitations is maintaining market share.
"I think obviously somebody buying the stock at $1,000, they're hoping it goes to $2,000 so I think the opportunity again is the market share in online, that's an increase and it would put Amazon at $1 trillion in revenue if they get to that," said Munster.
In the cloud space Amazon Web Services is faced with increased competition which poses a real risk to the cloud portion of Amazon's business, he said. "The specific reason is Azure from Microsoft(NASDAQ: MSFT)is gaining share, and Google is making a big push within that ... so that's an area that Amazon had an early lead on but is not maintaining the same market share they had in retail," said Munster.
Tesla on the other hand has few challengesand more opportunities, he said. "I'll give you one quick example, this race for batteries. There's a problem about just the elements of the copper and the nickel to build the batteries and they have procured some of that," said Munster. "If someone wants to build the batteries, they need financing to get there. I think the markets will give him that leverage to build this future," he said.
"I would, pun intended here, buckle up. This is going to be a bumpy but positive ride for Tesla in the years to come."
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• Bitcoin rival ethereum is headed for a 38% correction, analyst says || Vladimir Putin Meets With Ethereum's Founder: Russian President Vladimir Putin recently met with Vitalik Buterin, the founder of Ethereum , a crypto currency that rivals bitcoin. The meeting took place last week during the St. Petersburg Economic as part of Vitalik's plans to create contacts with Russian partners to implement blockchain technologies, according to a Bloomberg report . Ethereum also serves as a ledger for everything from currency contracts to property rights and can also eliminate intermediaries such as notaries, Bloomberg noted. Putin and Russia's position is that the digital economy isn't a separate industry, but the "foundation for creating brand new business models." And virtual currencies could be the back-bone of tomorrow's economy by making transactions happen quicker and safer. Meanwhile, Russia's central bank already uses an Ethereum-based blockchain to process online payments and confirm customer data with lenders. Perhaps more important, the government hasn't ruled out using Ethereum to develop a national virtual currency for the country at some point in the future. "Blockchain may have the same effect on businesses that the emergence on the internet once had -- it would change business models, and eliminate intermediaries such as escrow agents and clerks," said Vlad Martynov, an adviser for The Ethereum Foundation, a non-profit organization that backs the cryptocurrency. "If Russia implements it first, it will gain similar advantages to those the Western countries did at the start of the internet age." Related Link: Battle Of The Cryptos: Bitcoin Vs. Ethereum Brave New Coin Is The Bloomberg Of Blockchain See more from Benzinga Strategist: FANG Stocks Can Still Grow In A Sluggish Economy In A 'Blue Sky' Scenario, Signet Jewelers Could Regain Shine And Double In Value Expect Ambarella To Pay Near-Term Costs For Long-Term Goals © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 TheLibertyPortfolio@gmail.com . 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 . || 5 Best Performing Stocks of the Best ETF of May: The technology sector, no doubt, has been leading the broad market rally and is a the clear winner this month as well. That said,ARK Web x.0 ETF ARKWhas topped the list of the best performing ETFs of May, with impressive returns of about 15.6% (read: 5 ETFs & Stocks to Ride the Tech Mania).The impressive rally was mainly driven by the emergence and extensive adoption of new technology such as cloud computing, big data, Internet of Things, wearables, drones, virtual reality devices and artificial intelligence. Additionally, the surge in bitcoin prices is a big boon for this disruptive companies focused ETF. This is especially true as ARKW is the first ETF to add bitcoin to its roster and the move is paying off.Bitcoin, commonly known as a cryptocurrency, is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Notably, the digital currency shot up to an all-time high of above $2,700, doubling its value since the start of May (read: Will We Finally See a Bitcoin ETF?).Let’s take a closer look at the fundamentals of ARKW.ARKW in FocusThis is an actively managed fund focusing on companies that are expected to benefit from the shift in technology infrastructure to the cloud, enabling mobile, new and local services. These include companies that rely on or benefit from the increased use of shared technology, infrastructure and services in cloud computing, e-commerce, big data, social media, Internet of Things, new payment methods, media ecosystems, health care, point of sale, telecom and cryptocurrencies.The fund holds 39 stocks in its basket with none holding more than 7.6% share. From a sector look, Internet & mobile applications makes up for 29% of the portfolio while software & programming and Internet & direct marketing round off the next two spots with 13% exposure each. The ETF has amassed $40.1 million in its asset base and trades in a paltry average daily volume of around 10,000 shares. The expense ratio comes in at 0.75%.Though most of the stocks in the fund’s portfolio delivered strong returns, a few were the real stars having gained more than 20%. Below we have highlighted those five best-performing stocks in the ETF with their respective positions in the fund’s basket (see: all the Technology ETFs here):Best Performing Stocks of ARKWBitcoin Investment Trust GBTC: Shares of GBTC have soared about 210% this month. GBTC is an open-ended grantor trust based in the U.S., sponsored by Grayscale Investments. It is quoted on the over-the-counter market and derives its value solely from the price of bitcoin. The Trust's objective is to track the market price of bitcoin. GBTC occupies the top spot in the fund’s basket with 7.5% of the total assets.NVIDIA NVDA: This stock takes the seventh position in the fund’s basket with 4.02% allocation. It has also delivered incredible returns of 39% in May. The stock has seem solid earnings estimate revision of 30 cents for this fiscal year over the past one month with an expected earnings growth rate of 19.36%. NVIDIA has a Zacks Rank #3 (Hold) with a VGM Style Score of C and a solid Zacks Industry Rank in the top 7% (read: 5 ETFs to Tap the Hot NVIDIA).Square Inc. SQ: This stock takes the seventeenth spot in the fund’s basket with 2.5% of assets. It gained 24.7% in May and has seen positive earnings estimate revision from a loss of 25 cents to a loss of 16 cents over the past one month for this year. As a result, its earnings are expected to grow 53.88% versus the industry average of 9.91%. Square currently has a Zacks Rank #3 with a VGM Style Score of B and solid Zacks Industry Rank in the top 39%.Hortonworks Inc. HDP: The stock has surged nearly 24% in May but carries a Zacks Rank #4 (Sell) with a VGM Style Score of D. Though the stock has seen negative earnings estimate revision of eight cents for this year over the past one month, its earnings are expected to grow 22.35% versus the industry average of 9.91%. Additionally, Hortonworks belongs to the solid industry having a Zacks Rank in the top 39%. The stock is the fifth firm and accounts for 2.7% share in ARKW.MercadoLibre Inc. MELI: The stock has gained about 22.3% this month. It has seen solid earnings estimate revision of 30 cents over the past one month for this year with an expected earnings growth rate of 34.05%. This is much higher than the industry average of 20.82%. MercadoLibre currently has a Zacks Rank #1 (Strong Buy) with a VGM Style Score of D and a solid Zacks Industry Rank in the top 20%. The stock occupies the sixteenth position in the fund’s portfolio, making up for 2.5% share.
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[Random Sample of Social Media Buzz (last 60 days)]
#bitcoin #miner Antminer T9 12.5/Ths Bitcoin miner - used tested, ready to ship NOW! $2500.00 http://ift.tt/2tknCp8 pic.twitter.com/GdpCDCo183 || says George, the same guy threatening malicious interference with anything upsetting his business model #Bitcoin #mining #cartel #logicpic.twitter.com/FegIL7hLbi || 【BTC】
4時間足を見てると、これはいよいよBTC始まって以来の中期下落(ないしヨコヨコ)トレンドに突入したと思いました。しばらくは弱気相場ですね。今までは皆で買って長期上昇相場で誰でも勝てましたが、これからはそうは行きません。しっかり目線とリスク幅を見極めていく必要があります pic.twitter.com/lIeWiZf1bZ || Importante prise de bénéfices générale sur les Crypto-monnaies, l'Ether lâche 18%, le bitcoin 15% et le Ripple 14%. || Alexa, what does a bitcoin cost? http://ift.tt/2sDTWDQ #reddit #bitcoin || Delivering The Bitcoin Economy: Tuesday Deals #Bitcoin - We Accept Bitcoin easyDNS Priced from CAD $ 15.00 Sec... http://ow.ly/TwM350chr3J || Thanks internet make money What do you know about #bitcoin? ╚► http://tiny.cc/BITcoin pic.twitter.com/sSpitVwNjC || Won 0.01 in #bitcoin lottery win #BTC http://bit.ly/kAjX7821 Free ticket $ltc $xrp $xmr $dgb $str $sia $eth $zec $crypto #doge 9:44:39 || Retweeted iDice (@idice_io):
Official iDice bitcoin ICO ANN here: https://bitcointalk.org/index.php?topic=1967358.msg19566679#msg19566679 … Come say hi! Join our... http://fb.me/DfjvPCQn || #bitcoin #miner Pre-Order NEW BITCOIN Antminer S9 13.5TH/s BTC Bimain Miner ships late Aug $2997.00 http://ift.tt/2ruI9YQ pic.twitter.com/FRifjhPMUL
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Trend: up || Prices: 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76
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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)]
Revolut App Now Lets Users Auto-Trigger Cash and Crypto Exchanges: Mobile finance app Revolut has launched a new feature allowing users to âauto-exchangeâ cash and cryptocurrencies. The firm announced  Tuesday that its over 4 million users can now automatically exchange, say, U.S. dollar (USD) to bitcoin (BTC) or ether (ETH) to XRP, based on a pre-set target rate. Fiat-to-fiat exchanges are also possible. Once a target rate is set in the app â either above or below current rates â Revolut said the exchange will trigger once the target has been reached. It warns, though, that the achieved rate could be “slightly different” from the target due to exchange rate fluctuations. Kraken Crypto Exchange Poaches a Sony Studio Head for Marketing Push “If the rate never hits your target, no currencies will be exchanged,” the firm said. With the move, the app has effectively added the “trade trigger” feature available on more professional trading platforms, rather than offering simply a buying and selling service at the current market or platform rate. âAuto-exchange is perfect for trying to get the best exchange rate ahead of your holiday or protecting yourself from market volatility,â Revolut added in an email to customers on Thursday. The feature comes with some limitations, however. You can exchange only up to â¬10,000 ($11,198) per day to or from any cryptocurrency, the firm said. There is also a daily cap of 30 auto-exchange transactions. Social Trading Giant eToro Adds Crypto Buying and Selling in 32 US States Also, at times of high volatility, if the exchange rate moves more than 0.75 percent on either side of your target rate for fiat currencies, or more than 5 percent on either side of your target rate for cryptocurrencies, Revolut said it wonât carry out the exchange. Revolut started offering cryptocurrency trading services in July 2017 with the addition of bitcoin initially. Later, in December 2017, the firm added litecoin and ether support and in May of last year it added XRP and bitcoin cash . Story continues Last December, the firm received a banking license from the European Central Bank. Revolut said at the time that the license will ultimately allow it to offer users an account to manage all their finances from a single place through its upcoming venture Revolut Bank. Revolut app image via Shutterstock Related Stories ConsenSys Targets Crypto Privacy and Adoption With New Investments Binance’s Crypto BNB No Longer Tracks Bitcoin – And That’s a Big Deal || Bitcoin ATM Double-Spenders: Police Need Help Identifying Four Criminals: CBCreportsthat four Canadian men are wanted in connection with conducting double-spend attacks against Bitcoin ATMs in four cities. A total of 112 transactions are alleged to have taken place in September last year, with half of them taking place in Calgary. The other attacks took place in Winnipeg, Toronto, Montreal, Sherwood Park, Ottawa and Hamilton. The men’s identities are unknown, and Calgary police are asking for help identifying them.
Apparently, the Bitcoin ATMs accepted zero-confirmation transactions, and the men exploited this fact to double-spend Bitcoin in exchange for cash. Over 112 transactions in 10 days netted the scammers a total of around $200,000. The average transaction was around $1800.
Arguably, Canadian Bitcoin Core developer Peter Todd’sreplace-by-fee toolswould make these transactions possible. While not specifically intended or endorsed for criminal activity, the tool enables “stuck” transactions to become unstuck by paying an extra fee. There is a “double spend” tool in the kit, however, which is described by Todd as such:
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Creates two transactions in succession. The first pays the specified amount to the specified address. The second double-spends that transaction with a transaction with higher fees, paying only the change address. In addition you can optionally specify that the first transaction additional OP-RETURN, multisig, and “blacklisted” address outputs. Some miners won’t accept transactions with these output types; those miners will accept the second double-spend transaction, helping you achieve a succesful double-spend.
From a philosophical standpoint, thetools are controversial,but intended to encourage services and users to wait for at least one confirmation before considering a transaction completed. Double-spending of unconfirmed transactions has always been possible on Bitcoin and the RBF toolkit did not change that fact. As Peter Todd wrote in after the initial publication of this article:
The simple truth of the matter is that the ATM operator in question is negligent if they are accepting unconfirmed transactions without other mitigating security measures such as obtaining positive legal identification; the fact that they’re asking for help in identifying the thieves is a strong sign of such negligence. This is no different than, say, a store selling high value items choosing not to hire cashiers and instead relying on an “honesty box” for payment.
However, in reality, it’s inconvenient to have customers standing around for 10-30 minutes (or longer) for a transaction to go through. Convenience at the expense of security is a decision the yet-unidentified ATM operators seem to have to made.
Read the full story on CCN.com. || Crypto Advance; Russia Moves Closer to National Crypto Regulations: Investing.com – Major cryptocurrencies rebounded on Wednesday morning in Asia after losing ground during the first two trading days this week. Russia caught traders attention again as the country’s parliament adopted a bill to move closer to formulating crypto legislation.
Bitcoin bounced back from around $3,700, trading at $3,840.9 by 10:07 PM ET (03:07 AM GMT), up 3.10%.
Other digital tokens also made gains, with Ethereum up 7.27% to $136.26, XRP trading 2.92% higher to $0.31277 and Litecoin surging 12.64% to $52.425 over the past 24 hours.
The crypto market cap also recovered to $131 billion on Wednesday from $126 billion the day before.
Russia again was on the radar of crypto traders and investors as the country is moving fast forward to come up with national regulations on digital assets, following a direct order from President Vladimir Putin last week.
On Tuesday, the State Duma adopted the bill “On Digital Financial Assets”. The bill includes amendments to the Civil Code of the Russian Federation on digital rights and provides a regulatory framework targeting the digital economy.
This came after Putin called for the adoption of the regulation by July 2019. Russia is also said to be considering an oil-backed digital token.
Meanwhile, there were new developments regarding the case of Quadriga, a troubled Canadian crypto exchange. Quadriga is reportedly missing CA$180 million dollars ($135.39 million) in digital assets after the death of its founder Gerry Cotten, who was the only one with access to the company’s cold wallet – offline storage for crypto assets.
On Monday, Fortune reported that the U.S. Federal Bureau of Investigation (FBI) is now involved in the investigation over Quadriga’s missing funds. The crypto exchange reportedly stored 650,000 Ethereum on other exchanges such as Kraken and Bitfinex.
Kraken’s CEO Jesse Powell told Fortune that the FBI and Royal Canadian Mounted Police reached out to his company regarding the case.
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German Financial Regulator Issues Paper on Blockchain Securities Regulation || Japan: Hacked IoT Devices and Cryptocurrency Networks Doubled in 2018: In Japan , the number of hacked Internet of Things ( IoT ) devices and cryptocurrency networks nearly doubled in 2018 when compared to the previous year. English-language local media Asahi reported on March 7. Per the report, the Japanese Police Agency data shows that an average of 2,752.8 intrusions per sensor per day were detected last year, up 45 percent from the previous year. Furthermore, the data also reportedly shows that almost all of the attacks came from overseas. According to the article, if one considers only cryptocurrency networks and IoT devices, the data shows an average of 1,702.8 intrusions per sensor per day in 2018, which is about double the 875.9 reported in 2017. Seemingly, this isn’t part of a broader trend to attack all devices more, since the report notes: “The number of intrusions of networks used for sending and receiving e-mail messages and browsing websites has remained at about the same level since 2016.” The report also covers the location of the attackers, stating that 20.8 percent are located in Russia , 14.1 percent in China , 12.6 percent in the United States , 6 percent in the Netherlands and 5.1 percent in Ukraine . Attacks originating from inside Japan reportedly accounted only for 1.6 percent of the total. As Cointelegraph reported in February, more than 7,000 cases of suspected money laundering tied to crypto were reported to Japanese police in 2018, a more than tenfold increase from the 669 cases over a nine-month period during the previous year. Meanwhile, Cointelegraph reported that five Japanese banks have collaborated to launch a financial services infrastructure based on distributed ledger technology. Related Articles: PwC: Bitcoin Ransomware Hackers Laundered Money via WEX Exchange Japan: Reported Cases of Crypto-Related Money Laundering Increase 10-Fold in 2018 Coinomi Wallet Addresses Vulnerability Concerns Japan: Crypto Industry Trade Group JCBA Issues Guidelines for ICO Regulation || A journey through enterprise blockchain: Enterprise blockchain or private blockchains are on the rise. In fact, Deloittes 2018 global blockchain survey found 95% of companies across different industries were investing in blockchain tech projects. And while there is criticism across the spectrum for and against enterprise blockchain as well as whether companies should even invest into it almost every industry is making a concerted effort to weave it into its infrastructure. Financial industry With the birth of Bitcoin, the earliest form of cryptocurrency and an example of the first practical use-case for blockchain, it comes as no surprise that the financial industry is paving the way for blockchain innovation. Given the sheer volume of transactions that take place on a daily basis, the financial market is ripe for disruption and in dire need of efficient solutions. Whether it is improving trade finance or streamlining the KYC process, blockchain can reduce extra business costs, remove intermediaries and ensure safety and security throughout. Here are a few formalised examples of enterprise blockchain adoption by major financial institutions: The Australian Securities Exchange (ASX) will replace the existing Clearing House Electronic Subregister System (CHESS) with a distributed ledger system by 2020. The ASX CEO claims that this system will enable customers to develop new services and reduce costs. JP Morgan Chase made several power moves in the space in what appears to be the beginnings of its own mini blockchain ecosystem. Following the launch of the JPM Coin, a digital coin for instant payments, the company is also testing a new privacy protocol, zero-knowledge proofs (ZKPs) which will encrypt blockchain data more efficiently. It is designed for their private ETH blockchain, Quorum. IBM launched the Blockchain World Wire a global blockchain payments network that allows financial institutions to use pegged cryptocurrencies as a bridge asset between any two fiat currencies, like the dollar and euro, for near real-time settlement. It is the first of its kind to integrate payment messaging, clearing and settlement on a single network. Its goal is to revolutionise the way the cross-border payments process so that underserved countries get access to money right away. Story continues This is just the tip of a very large iceberg when it comes to other players investing and/or implementing enterprise solutions to streamline financial transactions. To add to the mix, Visa, the Royal Bank of Canada (RBC), Santander, Goldman Sachs and others are developing platforms of their own. Supply chain One of the most popular industries associated with the blockchain world is supply chain, or the flow of goods and services. Industry leaders like Leanne Kemp, CEO of Everledger, a global digital ledger that protects items of value (diamonds, for example), have long touted the ways in which the technology can revolutionise traditional supply chains. The supply chain process has many different steps, forming an assembly line of tasks that need immediate attention. The blockchain can store, record and track these processes more seamlessly, thereby speeding up the flow and cost reconciliations among different parties. This can be applied to many different subsets of supply chain and below are several examples: Supply Chain Finance : Alipays parent company Ant Financial announced a new supply chain finance subsidiary called Ant Shuanglian Technology (translation: Ant Double Chain) to provide financing for SMEs (small and medium sized enterprises) who have large corporate customers. Ant claims that traditional supply chain finance companies would only finance 15% of suppliers. But with blockchain, 85% of suppliers can receive financing. Similar companies to do this include Ping Ans OneConnect and Tradeshift . Food Supply Chains : In collaboration with SAP , Bumble Bee Foods launched a blockchain platform to monitor the supply chain of yellow fin tuna from Indonesia to end customers, accessing origin and shipping info using a smart device. Another organization which has implemented a similar food supply chain program is The United States National Pork Board to keep tabs on the pork supply chain process. Circular Supply Chains : Accenture is teaming up with Mastercard , cloud computing firm, Amazon Web Services , blockchain supply chain company, and Everledger , to better manage inventory, waste elimination and boost sustainability. It will allow customers to find small-scale suppliers and growers and create a rewards program for sustainable practices with direct payments. Real estate Real estate is a budding frontier for enterprise blockchain as there are major benefits in direct peer-to-peer transactions on a digital network. Traded assets can increase in value by driving out costs and eliminating middlemen, through the use of smart contracts. Blockchain can potentially fractionalise an existing property into smaller units of ownership which are represented by tokens or digital shares. This can create an attractive alternative funding arrangement for both buyers and sellers and ultimately improve overall liquidity for this new market. The real estate industry popularised the application of tokenisation which means the entire value of a property is digitally represented on a blockchain network (such as Ethereum) in the form of tokens. Many companies have already jumped on this bandwagon. Below are some recent transactions: Three Swiss firms conducted a blockchain-based real estate transaction for nearly $3 million. Blockchain property transaction platform blockimmo Ltd , proptech company Elea Labs Ltd and digital assets service firm Swiss Crypto Tokens Ltd tokenised a property consisting of 18 apartments and a restaurant on the Ethereum network. It was supported by Swiss Crypto Tokens stablecoin and pegged to the Swiss Franc, the CryptoFranc (XCHF) to remedy price fluctuation risk. Blockchain-based real estate platform RealBlocks closed a seed funding round with Morgan Creek Digital for a decentralised platform that tokenises shares of private equity funds. It also allows real estate investors to sell shares in both domestic and international markets. Healthcare Healthcare is another important industry which is constantly under fire, fuelling a never-ending political debate that has plagued the US for years. With a laundry list of fundamental issues stemming from outrageous costs to insurance fraud, we owe it to our society to offer some relief. One company that is trying to innovate and streamline the health care system is Change Healthcare , which runs a clearing house for insurance claims, processing over 30 million transactions per day. Owned by giant pharma distribution company, McKesson, Change Healthcare uses blockchain to address patient eligibility in real time by storing policy coverage information logic in a smart contract. Given the data siloes that exist between providers and insurance companies, this type of service is highly in-demand. Advertising Moving on to advertising, digital ad fraud is an enormous problem for the advertising industry, estimated to result in over $10 billion in annual losses. Blockchain solutions are emerging to create greater ad campaign transparency and combat bot-based impression fraud. Blockchain provides a single source of truth for the number of impressions delivered, eliminating disputes between marketing platforms, publishers and advertisers and improving effectiveness. Surprisingly, there are many companies tackling this problem and even payment-related problems in the industry. For example: Anheuser-Busch InBev (AB InBev) , the worlds largest producer and distributor of beer is partnering with a start-up, Kiip , to write ad impression data to Ethereum in hourly batches. This will save time for media buyers and increase transparency in ad programs. A micro-consortium among IBM , the digital advertising firm Mediaocean , and major consumer products firms Kimberly-Clark , Kelloggs , and Unilever are leveraging a custom version of IBMs Hyperledger Fabric, to record impression level data as well as related transactional data like purchase orders and payments. AdLedger , a new consortium that includes several industry players, including Salon Media, IPG Mediabrands, iSpot.tv, Tegna, Publicis Media, Mad Network, group m , and the International Advertising Bureau (IAB) , aims to also use the Hyperledger blockchain to gain insight into ad campaign effectiveness. Problems with enterprise blockchain Many people take issue with enterprise blockchains because they are private and there is still centralisation around who can participate on the network. This is quite different from public or permission-less blockchains, like Bitcoin, which is open to the public. However, for large corporations that need to have total control of their business, this is a positive thing. It helps them keep track of transactions on the network, KYC (Know Your Customer) regulations, and achieve faster consensus, which offers more privacy, security and scalability. That said, while it is the flavour of the year, enterprise blockchain still has a long way to go before it goes mainstream. There is still a long road ahead for perfecting the use of smart contracts and the level of complexity they can currently handle. We know that blockchain technology works but there are still some kinks to work out before mass adoption comes to any single industry. Stewie Zhu Founder and CEO of Distributed Credit Chain The post A journey through enterprise blockchain appeared first on Coin Rivet . || JPMorgan Takes Another Shot at Bitcoin, Claims Mining Isn’t Worth the Value of the Cryptocurrency: Bitcoin mining By CCN.com : A report by JPMorgan suggests that for over four weeks during the fourth quarter, bitcoin’s market price was lower than its mining costs on average. According to the JPMorgan analysts, the cost of mining bitcoin during Q4 was averaging about $4,060 around the world, Bloomberg reports. According to them, starting late November when the price of bitcoin went below $4,000, it became uneconomical to mine bitcoin. Bitcoin Price Still Below the Globe’s Average Cost of Mining Currently, bitcoin is trading at around the $3,650 level after falling off the $3,700 resistance level which it touched earlier. Read the full story on CCN.com . View comments || Report: MIT Researchers Design Cryptocurrency 99% Less Data-Intensive Than Bitcoin: Researchers at the Massachusetts Institute of Technology (MIT) have reportedly developed acryptocurrencythat needs transaction-verifying nodes to store 99 percent less data when compared to Bitcoin (BTC). The development was reported on Jan. 23 in aposton the MITNews Blog.
The cryptocurrency in question is dubbed Vault and will be presented at the Network and Distributed System Security Symposium (NDSS) next month. According to the aforementioned post, the cryptocurrency “lets users join the network by downloading only a fraction of the total transaction data.”
Vault also reportedly deletes empty accounts and permits the verification of transactions employing only the most recent transaction data. The post also reports the results of tests conducted on the network:
“In experiments, Vault reduced the bandwidth for joining its network by 99 percent compared to Bitcoin and 90 percent compared to Ethereum, which is considered one of today’s most efficient cryptocurrencies. Importantly, Vault still ensures that all nodes validate all transactions, providing tight security equal to its existing counterparts.”
Vault’s block size limit is 10 megabytes, which is equivalent to 10,000 transactions, and each one of those blocks contains the hash of the previous block. As MITNews explains, to verify Bitcoin transactions, “a user would download 500,000 blocks totaling about 150 gigabytes” since he or she would need to “store all account balances to help verify new users and ensure users have enough funds to complete transactions.”
Vault is based on a proof-of-stake-based (PoS) blockchain called Algorand, which has been created by Silvio Micali, the Ford Professor of Engineering at MIT. Cointelegraph recentlycoveredMicali’s claims during an interview with Bloomberg thatblockchaincan allow for the creation of a borderless economy.
The Vault system lets users verify blocks employing information present on a block a few hundred or a thousand blocks in the past, which is called a “breadcrumb.” This way, a new node joining matches the breadcrumb — or an old block — to a block much further ahead. Derek Lung, who co-authored the paper, explained that one “can skip over all blocks in between.” He also noted:
“The broad goal here is to enable cryptocurrencies to scale well for more and more users.”
The article about Vault also claims that in order to join the network, a user needs to download about 90 percent less data when compared to Ethereum (ETH). Ethereum (ETH) co-founderVitalik Buterinhad previouslydeclaredthat future blockchains with sharding based on PoS will be “thousands of times more efficient.”
As Ethereum developers work on implementing PoS, they aredevelopinga new protocol known as Casper that is expected to help lower energy consumption. In the summer of 2018, Ethereum developersnotedthat they would combine both Casper and sharding — a method of increasing the number of transactions that ablockchaincan process — in an upgrade.
As Cointelegraph recentlyreported, a group of researchers from topUnited Statesuniversities, which include MIT, have also announced the launch of a globally scalable decentralized payments network dubbed Unit-e.
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• Blockchain Startup Stox and Founder Sued for $4.6 Million Over Alleged Fraud
• Cryptos Trade Sideways With Mild Gains and Losses Among Top Coins, Bitcoin Above $3,600
• JPMorgan Chase Analysts: Bitcoin Price Could Sink Even Further, Crypto Values Unproven || Russia plans oil-based cryptocurrency to dodge US sanctions: Russia is in the final stage of developing a state cryptocurrency linked to oil, it has been reported. The move is an attempt to counter crippling US economic sanctions a tactic Moscow freely admits to. Former Energy Minister Igor Yusufov told Russian news site Rambler : The logic of the development of the digital economy on a global scale suggests exactly this path of development, in the current situation of the oil market and the instability of payments in dollars. After the launch of the cryptocurrency platform, oil-producing countries will be able to manoeuvre with respect to financial and trade restrictions, which have become too many in recent years. Iran, North Korea, Russia, and Venezuela are all investing in cryptocurrencies in an attempt to counter US economic might. US sanctions work by placing bans on dealings and transactions with persons, nations, and companies. Fighting sanctions These prohibitions are often enforced with the help of mainstream financial institutions. But cryptocurrencies do not operate within this established system. Vladimir Gutenev, the first deputy head of the economic policy committee of the State Duma, said Russia should conduct transactions in cryptocurrencies linked to the value of gold to frustrate US attempts to thwart deals on Russian weaponry and civilian goods. And Im sure that this will be a very interesting option for China, India, and other states as well, he added. Last month, Coin Rivet reported Russias plans to introduce a CryptoRuble to rival Bitcoin are in full swing . It is understood that Vladimir Putin himself has ordered teams of experts to create a cryptocurrency that will allow the Russian leader to bypass international sanctions and keep many of his countrys huge intercontinental transactions under the radar. The post Russia plans oil-based cryptocurrency to dodge US sanctions appeared first on Coin Rivet . || Coinbase Pro increases fees in market structure update: US-based crypto exchange Coinbase is “implementing a set of changes to further optimise the market health of our platform,” it announced in a Medium post . The aim is to increase liquidity, enable better price discovery for trades, and to make price movements smoother, with changes including a new fee structure, turning off stop market order and adding market order protection points. XLM Earlier this week, we reported that Stellar Lumens (XLM) had officially been listed on Coinbase Pro. XLM, which is the seventh-largest cryptocurrency in terms of market cap, will not yet be available on the Coinbase retail platforms including Coinbase.com and the mobile apps. Stellar was launched in 2014 by Ripple Co-Founder Jed McCaleb, with all XLM tokens being premined. Coinbase claims that: “Stellar aims to connect banks, payment systems, and individuals quickly and reliably. Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.” Despite being cautious in 2017 by only listing Bitcoin, Ethereum, and Litecoin, Coinbase has been exercising a gung-ho attitude of late, with the likes of Loom Network, MANA, XRP, Dai, Golem Network, and Zilliqa all finding their way onto the exchange. This change in approach could suggest that regulatory pressure is waning, which would tie in with SEC chief Jay Clayton’s recent statement confirming that Ethereum “is not a security.” The post Coinbase Pro increases fees in market structure update appeared first on Coin Rivet . || Bitcoin ETF: SEC Receives 84% Negative Feedback on Application: The industry’s enthusiasm for a Bitcoin ETF (exchange-traded fund) appears to be waning — if you judge that by the dearth of new comment letters to the Securities and Exchange Commission in support of the investment vehicle.
The SEC received just sevencomment lettersfrom the public in response to a solicitation for feedback it had requested in February 2019. Of those, six urged the agency to reject the application. (That’s around 84%.)
Dina Pinto wrote:
“It is in my opinion that Bitcoin to date has no solid ground on which to base a serious product such as an ETF on. It is volatile, manipulated by the very few and has no real use case.”
D. Darnwell wrote:
Read the full story on CCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
Get Free Bitcoin http://keita2016.jp || Top 5 (24 hours):
$BTC: $3590.36169535 (-0.39%)
$XRP: $0.3107855435 (-1.93%)
$ETH: $114.977952693 (-1.74%)
$BCH: $123.804367808 (-3.04%)
$EOS: $2.3917306722 (-2.34%)
#cryptocurrency #crypto
#BTC #XRP #ETH #BCH #EOS || Total Market Cap: $131,878,272,552
1 BTC: $3,914.01
BTC Dominance: 52.08%
Update Time: 19-02-2019 - 01:00:06 (GMT+3) || This weeks LuckyCrypto #jackpot now at over 3.00 #BTC (12,251 USD)
Play now and get 25 #free tickets!
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#bitcoin #cryptocurrency #crypto #eth #xrp #money #win #giveaway || Long/Short Bitcoin moves with up to 100x Leverage at Bitmex !
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$BTC $ETH $Ada $BCH $EOS $LTC $TRX $XRP #BTC #ETH #Ada #BCH #EOS #LTC #TRX #XRP || [20:00] Most mentioned tickers in the last 4 hours: $BTC $ENJ $ETH $LTC $XRP $KNC $BNT $WAN $ADA $STRATpic.twitter.com/aHOsYNvM1T || Crypto Exchange Binance Launches OTC Trading Desk - read more : http://bit.ly/2DvBlOK #cryptocurrency #crypto #blockchain #bitocoin #btc #cryptocurrencynews #cryptoexchange #cryptotrading || QUESTA SETTIMANA DISTRIBUITI GRATIS 0.99 BITCOIN IN PREMI. https://www.youtube.com/attribution_link?a=9JVcMpPSLYw&u=%2Fwatch%3Fv%3D3dsONUn3KYw%26feature%3Dshare … || 主要 #仮想通貨 #暗号資産
2月17日11時の価格
$BTC ￥401,397 0.00%
$ETH ￥13,609 -0.15%
$XRP ￥33.27 -0.08%
$LTC ￥4,798 -0.07%
$BCH ￥13,478 -0.05%
#ビットコイン #リップル #イーサリアム #ライトコイン
その他コイン価格（時価総額1-100位）↓https://coinutil.net/ranking || Bitcoin flink ondergewaardeerd volgens geraffineerde MVRV-indicator - https://invst.ly/9vu9g
|
Trend: up || Prices: 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-04-24]
BTC Price: 7550.90, BTC RSI: 60.63
Gold Price: 1723.50, Gold RSI: 58.48
Oil Price: 16.94, Oil RSI: 48.53
[Random Sample of News (last 60 days)]
Oil: Free for All: Historical views The chart below shows the 25-year horizon of the WTI price performance. 2002-2003 is when the price was at the current level – $20 per barrel. As such, it’s breaking news. Put in the context, it’s one step way from dropping below $20 to match the severity of the 2008-2009 crisis. Will it be there? No one can say for sure. What are the factors though? Source: www.tradingeconomics.com Chaos If you type “oil” in any of the major media channels, you will see something like “demand collapse, free-market state, price crash, etc”. That’s how the oil market is now. A shock, in other words. Russia-Saudi Arabia standoff and the dissolution of the OPEC+ sent the global oil industry into a “fire at will” stage. Each oil producer is now bound by no agreement and is free to supply and price as desired. Officially, April 1 will be the first day of this chaos, when the output limits agreed by OPEC+ in December end their term. What to expect? Quarter gone The U. S. Energy Information Administration issued its regular report on March 11, 2020 about the prospects for the global oil industry. As you can see, the world’s supply and demand were supposed to meet somewhere above 100mln barrels per day. Source: EIA Note that it was merely three weeks ago, and a week after the failed meeting of OPEC+ on March 5, meaning that the consequences of the disagreement between Russia and Saudi Arabia were already factored in. Now, only this week the global consumption is expected to drop by 26mln barrels – that is 25%! That means, more than a quarter of the global demand for oil is gone – and that is when Saudi Arabia and Russia are planning to increase their production capacities to record high levels! Is it the bottom? Let’s consider how likely oil is to stay at its current decade-long lows if the demand keeps contracting and the supply is set to increase? Actually, in some markets, it already trades at $10… Story continues So far, neither Russia nor Saudi Arabia has expressed their will to get back to the negotiation table. In fact, the worse it gets, the more pressing both seem with respect to their chosen policies. Neither does the U. S. seem to be willing to come as the arbiter in this matter. No one to blame, though – everyone is busy saving lives at home. Art of entry Time to enter? No, it’s not. You prepare and wait. As usual. A 17-year low may easily drift into a 20-year low and more, given the circumstances and the processes taking place at the moment. This post is written and submitted by FBS Markets for informational purposes only. In no way shall it be interpreted or construed to create any warranties of any kind, including an offer to buy or sell any currencies or other instruments. The views and ideas shared in this article are deemed reliable and based on the most up-to-date and trustworthy sources. However, the company does not take any responsibility for accuracy and completeness of the information, and the views expressed in the article may be subject to change without prior notice. This article was originally posted on FX Empire More From FXEMPIRE: Polish Zloty Under The Pressure Again? A New Chinese Miracle and too Much Optimism in Europe BTC/USD Drop Below 6298 Aims for 5940 Oil Price Fundamental Daily Forecast – Weaker Shorts Covering as US, Russia Agree to Talk About Price Crash EUR/USD Daily Forecast – Six-Day Bullish Rally Ends as Euro Returns to Important Support EUR/USD Uptrend to Continue at 1.10 Support Zone || BitMEX Open Interest Collapses After Controversial Long Squeeze: While bitcoins (BTC) price is rallying, traders have scaled back their open interest positions in bitcoin perpetual contracts listed on the crypto derivatives exchange BitMEX. The worlds largest cryptocurrency by market capitalization rose to $6,863 early Tuesday, representing a 77 percent gain on the recent low of $3,867 registered on March 12, according to CoinDesks Bitcoin Price Index . Meanwhile, open interest, or outstanding positions, in XBT/USD (bitcoin) perpetual contracts fell to 55,000 BTC. Thats the lowest figure in at least 18 months, which is when crypto derivatives research firm Skew began tracking BitMEXs data. Related: Bitcoin Rejected Near $7K Despite US Fiscal Agreement on $2T Stimulus Package A perpetual contract resembles a futures contract as it offers high leverage and is a margin-based product. However, there is no expiry or settlement and thus it trades close to the underlying reference index price. The exchange uses the term open value for open interest in its perpetual contracts when measured in bitcoin terms. Open interest in XBT/USD on BitMEX has crashed by over 50 percent from 115,000 BTC to 55,000 BTC over the past 12 days. Activity has cooled significantly following bitcoins sudden drop from around $7,300 to $3,867 during a 16-hour period from 10: 00 UTC on March 12 to 02:00 UTC on March 13. Markets in general both traditional and cryptocurrency have seen volumes hit as traders figure their way through the uncharted waters of recent weeks. Open interest on the BitMEX XBTUSD market, which remains the most liquid globally, has been impacted in line with what we have seen across the entire market, Greg Dwyer, head of business development at BitMEX told CoinDesk. Related: Mt. Gox Trustee May Sell Some Crypto Assets, Says Draft Repayment Plan Open interest is falling because the market is full of uncertainty, Ben Zhou, CEO of Bybit, told CoinDesk. Traders in all fields, whether traditional or crypto, are simply unsure of where the market is going. Therefore they are being cautious and want to sit on the sideline to observe the market, until a clear entry signal appears. Story continues See also: Bitcoins Approaching Halving, Explained While the market sentiment was bearish to begin with, the downside move was exaggerated by forced liquidations of long positions on BitMEX. The long squeeze reportedly occurred between 02:16 and 02:40 UTC on March 13, when the exchange was down for maintenance. During that time, bitcoins price volatility spiked with prices dropping to $3,867 for just five minutes before quickly recovering above $4,000. Open interest is falling because the market is full of uncertainty. As a result, some in the crypto community suggested possible price manipulation on BitMEX. Sam Bankman-Fried, CEO of Alameda Research and BitMEXs rival exchange FTX, published multiple tweets , wondering out loud if there really were hardware issues, and saying the exchanges unwillingness to address the market situation promoted the price slide. BitMEX dismissed Bankman-Frieds argument as a conspiracy theory. However, the controversy seems to have led to a slowdown in the activity, as represented by the drop in open interest. While open interest has declined from $1.2 billion to $500 million on BitMEX since the big long squeeze, it has skyrocketed for their rivals. On FTX, open interest has increased from $68 million to $128 million in the past 12 days. Similarly, for Bybit it has risen from $35 million on March 14 to $100 million on March 22. Global slowdown Nonetheless, overall activity has slowed significantly across the globe over the past five weeks. Markets in general both traditional and cryptocurrency have seen volumes hit as traders figure their way through the uncharted waters of recent weeks. Open interest on the BitMEX XBTUSD market, which remains the most liquid globally, has been impacted in line with what we have seen across the entire market., Aggregate open interest has declined by 50 percent from highs witnessed in mid-February, Skews CEO Emmanuel Goh told CoinDesk. Global open interest had risen above $5 billion in mid-February when bitcoins price was trading near $10,500. At press time, total open positions were around $1.6 billion. Spot-driven rally Given the decline in the institutional activity, bitcoins recent recovery rally looks to have been driven by the spot market, which is mainly dominated by long-term holders and retail traders. See al so: Bitcoin and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis Investors accumulated coins below $5,000 earlier this month, according to an indicator called hodler net position change, tracked by data firm Glassnode. The indicator stayed in the positive territory during the recent price slide, a sign net new positions were accumulated by investors (nicknamed HODLers by the crypto community). In the past, significant quantities were cashed out during bull markets of bitcoin, and net new positions were accumulated by HODLers in bear phases, according to Adamant Capital. Related Stories Stocks, Bitcoin Rally on Prospects for US Senate Stimulus Bill Bitcoin Halving, Explained || BitHull S.A.: BitHull Waives off Custom Fees for its Miners: COPENHAGEN, DENMARK / ACCESSWIRE / April 14, 2020 / BitHull S.A ( https://www.bithull.com/ ) is pleased to announce a 100% waiver on custom fees for its new crypto miners BH Miner and BH Miners Box. A technology company developing next-generation hardware for cryptocurrency mining, BitHull S.A has designed these products to make crypto mining simple, convenient and profitable for the newbies as well as experienced miners. Both BH Miner and BH Miners Box utilize the latest FPGA technology that delivers exceptionally high hash rates in spite of low power consumption. These multi-algorithm miners can be used for mining Bitcoin, Litecoin, Ethereum, and Monero at home because they generate almost no noise. To maximize the profit for its customers, BitHull has designed its miners to deliver extraordinary hash rates. BH Miner, the basic product from the company, offers hash rates of 360 TH/s, 60 GH/s, 15 GH/s, and 3 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively, with a moderate power consumption of 550 watts. BH Miners Box is a larger unit combining six BH Miners, offering six times higher hash rates compared to BH Miner. BitHull informs that BH Miners Box is capable of generating monthly profits between $8,000 and $30,000, depending on the coin mined. Now, by waving off the custom fee for its customers, the company has further enhanced the profitability of its miners. The term hash rate refers to the speed at which a computer is able to perform hashing computations. In the context of cryptocurrency mining, it represents the efficiency and performance of a mining machine. A higher hash rate creates a better chance of receiving the block reward. Therefore, the hash rate is directly proportional to a miner's profitability. For more details, please visit https://www.bithull.com/ BitHull S.A is a technology company dedicated to developing next-generation hardware for cryptocurrency mining. The company is run by a team of experts with a track record of delivering world-class tech components such as FPGA chips to numerous industry heavyweights. Story continues SOURCE: BitHull S.A. via EQS Newswire View source version on accesswire.com: https://www.accesswire.com/584977/BitHull-SA-BitHull-Waives-off-Custom-Fees-for-its-Miners || US Says Venezuelan President Maduro Hid Massive Drug Ring Proceeds in Crypto: Venezuelan President Nicolas Maduro tapped crypto to conceal transactions related to illicit drug-running, the U.S. Department of Justice alleged in an indictment Thursday . The sweeping charges against Maduro and 14 other Venezuelan officials are primarily targeted at stopping an alleged multibillion-dollar cocaine trafficking ring the DOJ claimed wreaked havoc on American communities for over 20 years. It allegedly involved drug runners, Colombian revolutionaries and narco-terrorism. Venezuela’s crypto superintendent, Joselit Ramirez Camacho, 33, was also indicted in a separate action in the Southern District of New York. Related: Alleged Mastermind of Sex Abuse Chatrooms Hid Payments With Privacy Coin Monero In the indictment’s accompanying press release, Homeland Security Investigations (HSI) Acting Executive Associate Director Alysa D. Erichs said the conspiracy used crypto to cloak their alleged crimes. “Today’s announcement highlights HSI’s global reach and commitment to aggressively identify, target and investigate individuals who violate U.S. laws, exploit financial systems and hide behind cryptocurrency to further their illicit criminal activity. Let this indictment be a reminder that no one is above the law – not even powerful political officials.” The release does not name what cryptocurrency is involved. However, Venezuela notably maintains an oil-backed cryptocurrency called the petro . That project is regulated by Venezuela’s National Superintendent for Cryptoassets and Related Activities, Sunacrip . Camacho is Sunacrip’s head. Related Stories Canadians Get US Jail Time for Stealing 23 Bitcoin in Twitter Scam Baidu Employee Jailed for Mining Crypto on 200 Company Servers US Woman Gets 13 Years in Jail After Funding ISIS With Cryptocurrency || 450 free Ivy League university courses you can take online: Woman uses computer in lounge area This is an updated version of a story Quartz published in January 2019 . The eight Ivy League schools are among the most prestigious colleges in the world. They include Brown, Harvard, Cornell, Princeton, Dartmouth, Yale, and Columbia universities, and the University of Pennsylvania. Indians come out in hordes to celebrate Modi’s call for social distancing These Ivy League schools are highly selective and extremely hard to get into. But the good news is that all these universities now offer free online courses across multiple online course platforms. Here’s a collection of all of them, split into courses in the following subjects: Computer Science, Data Science, Programming, Humanities, Business, Art & Design, Science, Social Sciences, Health & Medicine, Engineering, Education & Teaching, Mathematics, and Personal Development. Computer Science (40) For the first time in 228 years, the New York Stock Exchange will open without its trading floor CS50’s Introduction to Computer Science Harvard University Algorithms, Part I Princeton University Algorithms, Part II Princeton University Bitcoin and Cryptocurrency Technologies Princeton University Machine Learning for Data Science and Analytics Columbia University Machine Learning Columbia University Artificial Intelligence (AI) Columbia University Reinforcement Learning Brown University Machine Learning Georgia Institute of Technology Software Defined Networking Princeton University Computer Architecture Princeton University Enabling Technologies for Data Science and Analytics: The Internet of Things Columbia University Analysis of Algorithms Princeton University Robotics: Perception University of Pennsylvania Machine Learning: Unsupervised Learning Brown University Animation and CGI Motion Columbia University Networks Illustrated: Principles without Calculus Princeton University Linux Basics: The Command Line Interface Dartmouth C Programming: Modular Programming and Memory Management Dartmouth Story continues CS50’s Understanding Technology Harvard University CS50’s Computer Science for Business Professionals Harvard University CS50’s AP® Computer Science Principles Harvard University Algorithm Design and Analysis University of Pennsylvania HI-FIVE: Health Informatics For Innovation, Value & Enrichment (Administrative/IT Perspective) Columbia University HI-FIVE: Health Informatics For Innovation, Value & Enrichment (Clinical Perspective) Columbia University Networks: Friends, Money, and Bytes Princeton University C Programming: Using Linux Tools and Libraries Dartmouth C Programming: Pointers and Memory Management Dartmouth C Programming: Language Foundations Institut Mines-Télécom [New] CS50’s Introduction to Artificial Intelligence with Python Harvard University CS50 for Lawyers Harvard University [New] Robotics: Vision Intelligence and Machine Learning University of Pennsylvania Data Structures and Software Design University of Pennsylvania Computational Thinking for Problem Solving University of Pennsylvania Cryptocurrency and Blockchain: An Introduction to Digital Currencies University of Pennsylvania HI-FIVE: Health Informatics For Innovation, Value & Enrichment (Social/Peer Perspective) Columbia University Computer Science: Algorithms, Theory, and Machines from Princeton University Computer Science: Programming with a Purpose Princeton University C Programming: Advanced Data Types Dartmouth C Programming: Getting Started Dartmouth Data Science (18) Statistics and R Harvard University Statistical Thinking for Data Science and Analytics Columbia University Data Science: R Basics Harvard University People Analytics University of Pennsylvania High-Dimensional Data Analysis Harvard University Data Science: Visualization Harvard University Data Science: Machine Learning Harvard University Case study: DNA methylation data analysis Harvard University Causal Diagrams: Draw Your Assumptions Before Your Conclusions Harvard University Data Science: Linear Regression Harvard University Data Science: Inference and Modeling Harvard University Data Science: Probability Harvard University Data Science: Wrangling Harvard University Data Science: Productivity Tools Harvard University Big Data and Education Columbia University Principles, Statistical and Computational Tools for Reproducible Data Science Harvard University Data Science: Capstone Harvard University Data, Models and Decisions in Business Analytics Columbia University Programming (8) Using Python for Research Harvard University CS50’s Web Programming with Python and JavaScript Harvard University Programming for the Web with JavaScript University of Pennsylvania The Computing Technology Inside Your Smartphone Cornell University CS50’s Mobile App Development with React Native Harvard University CS50’s Introduction to Game Development Harvard University Software Development Fundamentals University of Pennsylvania Quantitative Methods for Biology Harvard University Humanities (81) Modern & Contemporary American Poetry (“ModPo”) University of Pennsylvania HOPE: Human Odyssey to Political Existentialism from Princeton University Moralities of Everyday Life Yale University Greek and Roman Mythology University of Pennsylvania Ancient Philosophy: Plato & His Predecessors University of Pennsylvania Ancient Philosophy: Aristotle and His Successors University of Pennsylvania China (Part 1): Political and Intellectual Foundations: From the Sage Kings to Confucius and the Legalists Harvard University Visualizing Japan (1850s-1930s): Westernization, Protest, Modernity Harvard University Religious Literacy: Traditions and Scriptures Harvard University English for Career Development University of Pennsylvania Literati China: Examinations, Neo-Confucianism, and Later Imperial China Harvard University Modern China’s Foundations: The Manchus and the Qing Harvard University China’s First Empires and the Rise of Buddhism Harvard University English for Journalism University of Pennsylvania Effective Altruism Princeton University Buddhism Through Its Scriptures Harvard University Creating Modern China: The Republican Period to the Present Harvard University Introduction to Ancient Egypt and Its Civilization University of Pennsylvania The Civil War and Reconstruction – 1850-1861: A House Divided Columbia University The Civil War and Reconstruction – 1865-1890: The Unfinished Revolution Columbia University The Civil War and Reconstruction – 1861 – 1865: A New Birth of Freedom Columbia University Masterpieces of World Literature Harvard University Cosmopolitan Tang: Aristocratic Culture in China Harvard University Shakespeare’s Hamlet : The Ghost Harvard University Global China: From the Mongols to the Ming Harvard University Invasions, Rebellions, and the Fall of Imperial China Harvard University China and Communism Harvard University Contemporary China: The People’s Republic, Taiwan, and Hong Kong Harvard University Global History Lab Princeton University The Ethics of Eating Cornell University Christianity Through Its Scriptures Harvard University PredictionX: John Snow and the Cholera Outbreak of 1854 Harvard University Islam Through Its Scriptures Harvard University Journey of the Universe: The Unfolding of Life Yale University A Journey through Western Christianity: from Persecuted Faith to Global Religion (200 – 1650) Yale University American Capitalism: A History Cornell University Question Reality! Science, philosophy, and the search for meaning Dartmouth Bioethics: The Law, Medicine, and Ethics of Reproductive Technologies and Genetics Harvard University Books in the Medieval Liturgy Harvard University Religion, Conflict and Peace Harvard University Shakespeare’s Othello : The Moor Harvard University The Ancient Greek Hero Harvard University The Medieval Book of Hours: Art and Devotion in the Later Middle Ages Harvard University Wonders of Ancient Egypt University of Pennsylvania Poetry in America: Whitman Harvard University Shakespeare’s The Merchant of Venice : Shylock Harvard University Hinduism Through Its Scriptures Harvard University Judaism Through Its Scriptures Harvard University Ancient Masterpieces of World Literature Harvard University The Tabernacle in Word & Image: An Italian Jewish Manuscript Revealed University of Pennsylvania English for Science, Technology, Engineering, and Mathematics University of Pennsylvania English for Business and Entrepreneurship University of Pennsylvania Seeking Women’s Rights: Colonial Period to the Civil War Columbia University Women Have Always Worked: The US Experience 1700 – 1920 Columbia University John Milton: Paradise Lost Dartmouth The American Renaissance: Classic Literature of the 19th Century Dartmouth Power and Responsibility: Doing Philosophy with Superheroes Harvard University Sikhism Through Its Scriptures Harvard University Women Making History: Ten Objects, Many Stories Harvard University Shakespeare’s Life and Work Harvard University Poetry in America: The Poetry of Early New England Harvard University Book Sleuthing: The Nineteenth Century Harvard University PredictionX: Lost Without Longitude Harvard University Introduction to Digital Humanities Harvard University China Humanities: The Individual in Chinese Culture Harvard University Poetry in America: Whitman Harvard University Poetry in America: The Civil War and Its Aftermath Harvard University Poetry in America: Modernism Harvard University China’s Political and Intellectual Foundations: From Sage Kings to Confucius Harvard University Modern Masterpieces of World Literature Harvard University [New] Japanese Books: From Manuscript to Print Harvard University The Worldview of Thomas Berry: The Flourishing of the Earth Community Yale University Indian & Tibetan River of Buddhism Columbia University Women Have Always Worked: The US Experience 1920 – 2016 Columbia University Fighting for Equality: 1950–2018 Columbia University Negotiating a Changing World: 1920-1950 Columbia University Wage Work for Women Citizens: 1870-1920 Columbia University Writing Case Studies: Science of Delivery Princeton University Fantastic Places, Unhuman Humans: Exploring Humanity Through Literature Brown University The Ethics of Memory Brown University Libertarian Free Will: Neuroscientific and Philosophical Evidence Dartmouth Business (68) Introduction to Marketing University of Pennsylvania Introduction to Financial Accounting University of Pennsylvania Introduction to Operations Management Wharton School of the University of Pennsylvania Financial Markets Yale University Introduction to Corporate Finance Wharton School of the University of Pennsylvania Customer Analytics University of Pennsylvania Viral Marketing and How to Craft Contagious Content University of Pennsylvania The Global Financial Crisis Yale University Financial Engineering and Risk Management Part I Columbia University Entrepreneurship 2: Launching your Start-Up University of Pennsylvania Operations Analytics University of Pennsylvania Introduction to Spreadsheets and Models University of Pennsylvania Accounting Analytics University of Pennsylvania Entrepreneurship 1: Developing the Opportunity University of Pennsylvania More Introduction to Financial Accounting University of Pennsylvania Fundamentals of Quantitative Modeling University of Pennsylvania Entrepreneurship 3: Growth Strategies University of Pennsylvania Entrepreneurship 4: Financing and Profitability University of Pennsylvania Social Impact Strategy: Tools for Entrepreneurs and Innovators University of Pennsylvania Analytics in Python Columbia University Improving Your Business Through a Culture of Health Harvard University Introducción a las Finanzas Corporativas University of Pennsylvania Arts and Culture Strategy University of Pennsylvania Financial Engineering and Risk Management Part II Columbia University Entrepreneurship in Emerging Economies Harvard University Decision-Making and Scenarios University of Pennsylvania Introducción al Marketing University of Pennsylvania Crowdfunding University of Pennsylvania Construction Project Management Columbia University Introduction to Global Hospitality Management Cornell University Corporate Social Responsibility (CSR): A Strategic Approach University of Pennsylvania Financial Acumen for Non-Financial Managers University of Pennsylvania Introducción a la Contabilidad Financiera University of Pennsylvania Leading the Life You Want University of Pennsylvania Global Trends for Business and Society University of Pennsylvania 市场营销概论 (中文版） University of Pennsylvania Construction Finance Columbia University Construction Cost Estimating and Cost Control Columbia University Construction Scheduling Columbia University Entrepreneurship and Healthcare in Emerging Economies Harvard University Launching Breakthrough Technologies Harvard University Modeling Risk and Realities University of Pennsylvania What is Corruption: Anti-Corruption and Compliance University of Pennsylvania What is Compliance? University of Pennsylvania Management Fundamentals University of Pennsylvania Building High-Performing Teams University of Pennsylvania Creating a Team Culture of Continuous Learning University of Pennsylvania Effective Compliance Programs University of Pennsylvania Application of AI, InsurTech, and Real Estate Technology University of Pennsylvania Managing Social and Human Capital University of Pennsylvania Lending, Crowdfunding, and Modern Investing University of Pennsylvania FinTech: Foundations, Payments, and Regulations University of Pennsylvania Influence University of Pennsylvania 运营管理概论（中文版） University of Pennsylvania 财务会计概论（中文版） University of Pennsylvania 企业金融概论（中文版） University of Pennsylvania Introducción a la Gestión de Operaciones University of Pennsylvania Optimizing Diversity on Teams University of Pennsylvania The Power of Team Culture University of Pennsylvania Marketing Analytics Columbia University Demand and Supply Analytics Columbia University Free Cash Flow Analysis Columbia University Introduction to Corporate Finance Columbia University Connected Strategy Capstone Wharton School of the University of Pennsylvania Retail Fundamentals Dartmouth Omnichannel Strategy and Management Dartmouth Developing Breakthrough Innovations with the Three Box Solution Dartmouth Executing Breakthrough Innovations with the Three Box Solution Dartmouth Art & Design (20) Gamification University of Pennsylvania Introduction to Classical Music Yale University Design: Creation of Artifacts in Society University of Pennsylvania Roman Architecture Yale University 18th-Century Opera: Handel & Mozart Harvard University The Architectural Imagination Harvard University Hollywood: History, Industry, Art University of Pennsylvania First Nights – Beethoven’s 9th Symphony and the 19th Century Orchestra Harvard University First Nights – Handel’s Messiah and Baroque Oratorio Harvard University Reinventing the Piano Princeton University First Nights – Monteverdi’s L’Orfeo and the Birth of Opera Harvard University First Nights – Stravinsky’s Rite of Spring: Modernism, Ballet, and Riots Harvard University First Nights – Berlioz’s Symphonie Fantastique and Program Music in the 19th Century Harvard University Introduction to Italian Opera Dartmouth 19th-Century Opera: Meyerbeer, Wagner, & Verdi Harvard University Exposing Digital Photography Harvard University Pyramids of Giza: Ancient Egyptian Art and Archaeology Harvard University Music and Social Action Yale University Age of Cathedrals Yale University Introduction to German Opera Dartmouth Science (31) Vital Signs: Understanding What the Body Is Telling Us University of Pennsylvania Best Practices for Biomedical Research Data Management (HE) Harvard Medical School Fundamentals of Neuroscience, Part 1: The Electrical Properties of the Neuron Harvard University Science & Cooking: From Haute Cuisine to Soft Matter Science (part 1) Harvard University Principles of Biochemistry Harvard University Fundamentals of Neuroscience, Part 2: Neurons and Networks Harvard University Introduction to Environmental Science Dartmouth Super-Earths and Life Harvard University Shark MOOC 2020 Cornell University Relativity and Astrophysics Cornell University Imagining Other Earths Princeton University The Quantum World Harvard University The Climate-Energy Challenge Harvard University Introduction to Bioconductor: Annotation and Analysis of Genomes and Genomic Assays Harvard University Case Studies in Functional Genomics Harvard University Cell Biology: Mitochondria Harvard University The Health Effects of Climate Change Harvard University Fundamentals of Neuroscience, Part 3: The Brain Harvard University MalariaX: Defeating Malaria from the Genes to the Globe Harvard University Science & Cooking: From Haute Cuisine to Soft Matter Science (physics) Harvard University Backyard Meteorology: The Science of Weather Harvard University High-performance Computing for Reproducible Genomics Harvard University Philosophy of Science University of Pennsylvania Journey Conversations: Weaving Knowledge and Action Yale University Introduction to Climate Change and Health Yale University 宇宙之旅：对话 (Journey of the Universe: Weaving Knowledge and Action) Yale University Thomas Berry的世界观：地球社区的繁荣 (The Worldview of Thomas Berry: The Flourishing of the Earth Community) Yale University Climate Adaptation for Human Health Yale University 宇宙之旅：展现生命 (Journey of the Universe: The Unfolding of Life) Yale University Communicating Climate Change and Health Yale University Bipedalism: The Science of Upright Walking Dartmouth Social Sciences (79) Justice Harvard University Constitutional Interpretation Princeton University An Introduction to American Law University of Pennsylvania Moral Foundations of Politics Yale University The Age of Sustainable Development Columbia University Paradoxes of War Princeton University Contract Law: From Trust to Promise to Contract Harvard University America’s Written 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More stories from Quartz: Americans are turning to one of Africa’s most common prescribed drugs to battle coronavirus This interactive map from Johns Hopkins University shows the effects of coronavirus in real time || The Crypto Daily – Movers and Shakers -10/04/20: Bitcoin fell by 1.00% on Thursday. Partially reversing a 2.29% gain from Wednesday, Bitcoin ended the day at $7,293.7.
It was a relatively choppy day on Thursday. Bitcoin fell from an early morning intraday high $7,370.7 to a mid-morning low $7,254.6 before finding support.
Steering clear of the major support and resistance levels, Bitcoin recovered to $7,300 levels before hitting reverse.
The reversal saw Bitcoin slide to a mid-day intraday low $7,117.0 before finding support.
Bitcoin fell through the first major support level at $7,205.73 before returning to $7,300 levels.
Resistance at $7,300 ultimately pinned Bitcoin back late in the day, however.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
Across the rest of the majors, it was a mixed day on Thursday.
Monero’s XMR and Stellar’s Lumen bucked the trend, with gains of 1.10% and 2.06% respectively.
It was a bearish day for the rest of the pack. Bitcoin Cash ABC slid by 4.02% to lead the way down.
Bitcoin Cash SV (-1.68%), Ethereum (-2.12%), Ripple’s XRP (-1.83%), Tezos (-1.68%), and Tron’s TRX (-1.63%) also saw relatively heavy losses.
Binance Coin (-0.60%), Cardano’s ADA (-0.63%), EOS (-0.49%), and Litecoin (-0.64%) saw modest losses on the day.
Through the current week, the crypto total market cap rose from a Monday low $190.55bn to a Tuesday high $211.57bn. A choppy mid-week saw the total market cap fall back to $203bn levels before recovering. At the time of writing, the total market cap stood at $208.50bn.
Bitcoin’s dominance eased back from 65% levels seen on Monday. At the time of writing, Bitcoin’s dominance stood at 64.0%.
24-hour trading volumes recovered from sub-$100bn levels to hit $171bn levels on Tuesday before easing back. At the time of writing, 24-hr volumes stood at $122.26bn.
At the time of writing, Bitcoin was up by 0.03% to $7,295.7. A mixed start to the day saw Bitcoin fall to an early morning low $7,261.0 before striking a high $7,299.8.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash ABC and EOS were up by 0.46% and by 0.50% respectively to lead the way.
Bitcoin Cash SV (-0.02%), Tezos (-0.12%), and Tron’s TRX (-0.64%) saw red early on to buck the trend.
Bitcoin would need to move through to $7,300 levels to bring the first major resistance level at $7,403.93 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $7,370.7.
Barring another crypto rally, the first major resistance level at $7,403.93 and Thursday’s high would likely pin Bitcoin back.
Failure to move back through to $7,300 levels could see Bitcoin fall back into the red.
A fall back through to sub-$7,260 levels would bring the first major support level at $7,150.23 into play.
Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$7,100 support levels.
Thisarticlewas originally posted on FX Empire
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• S&P 500 Price Forecast – Stock Markets Rally After Federal Reserve Promises To Buy Everything || How Financial Models Could Move Bitcoin’s Price After the Halving: Tobias A. Huber is a researcher with the Department of Management, Technology and Economics at ETH Zurich, in Switzerland.
Every four years, the Bitcoin protocol halves the block reward that miners receive when they contribute a so-called “block” of transactions to the blockchain. Currently, the reward is 12.5 bitcoins per block. The next halving will occur, soon, in May 2020.
Built into the protocol to controlbitcoin’s(BTC) inflation, the previous halvings have coincided with massive rallies. After the first halving, which occurred in November 2012, bitcoin’s price increased from $12 to more than $650. After the second halving in July 2016, the price accelerated to almost $20,000 in late-2017.
Related:Looking for a Halving Payday? Quick Wins in Investing Are Rare
See also:CoinDesk Report – Bitcoin: The Halving and Why It Matters
While it’s, of course, uncertain whether the next halving will accelerate prices, the halvings seemed to have driven bitcoin’s previous hype cycles. Naturally, the next halving has generated an intense debate whether it’s already priced in or not.
A popular model that’s often evoked in these debates is theStock-to-Flow model. It models the price of bitcoin based on the so-called “stock-to-flow ratio,” which, initially, was used to value gold and other raw materials. By relating the “stock” – i.e., the quantity issued – to the “flow” – i.e., the annual issued quantity – the model derives a prediction of a bitcoin price post-halving of $55,000 to $100,000 (which would correspond to a market cap of more than $1 trillion).
Unsurprisingly, the stock-to-flow model has attracted quite someattentionafter it was published in March 2019. Various attempts to falsify the model have been launched, and for bitcoin maximalists, it was another boost to their hyper-bullishness.
Related:Bitcoin Takes Tumble, Traders Fret Correlation and Next Month’s Halving
See also:Bitcoin Halving, Explained
Now, according to theEfficient Market Hypothesis(EMH), prices are just incorporating new information. It assumes the market is sufficiently fast and responsive to converge on an equilibrium price that correctly reflects all external, or so-called exogenous information. All market-internal, or endogenous processes, in turn, are already reflected in prices. In this view, only exogenous inputs – for instance, an exchange hack, a central bank announcement, or a geopolitical event – can change investors’ anticipations and prices. Consequently, extreme events, such as bubbles or crashes, result simply from exogenous news that hasn’t been factored into prices yet.
For proponents of the EMH, bitcoin’s supply schedule – which is encoded into the protocol and known since the inception of the network – constitutes endogenous information and should, accordingly, already be priced-in. And, most likely, most sophisticated market participants, such as market makers, have done so. But this doesn’t mean, the halving is fully priced-in.
Financial modeling is not a hard science like physics. The models don’t just faithfully reproduce markets; they actively transform them.
There’s robustevidencethat prices move too much compared with what one would expect from the EMH. Research shows only a small fraction of price movements can be explained by relevant news releases. Such findings suggest that price dynamics are mostly driven by endogenous positive feedback mechanisms between investors’ anticipations and prices – a phenomenon George Soros has described as “market reflexivity.”
In my opinion, irrespectively of whether the stock-to-flow model is valid or not, whether one believes in the EMH or expects an epic rally that will trigger hyperbitcoinization, what’s often under-appreciated in these debates is the fundamentally reflexive nature of financial markets.
Markets, and especially bitcoin, are reflexive phenomena. There’s a positive feedback mechanism between expectations and prices: expectations affect prices, which, in turn, influence traders or investors’ expectations and behavior. It’s this self-reinforcing positive feedback loop that’s also at the core of speculative bubbles and market crashes.
See also:For Crypto Miners, Bitcoin’s Halving Could Mean a Doubling in Costs
Because of these reflexive dynamics, models can shape financial markets. Historically, there have been a few cases where a model re-oriented the market it’s supposed to model. The famousBlack-Scholes options pricing model, for example, resulted in increased conformity between option price patterns and the model. That is, until the 1987 crash broke its validity. Similarly, currentshort-volatility strategies– which use volatility both as an input for risk-taking and a source of return – have a transformative effect on equity markets, as they result in a systemic suppression of volatility.
Financial modeling is not a hard science like physics. The models don’t just faithfully reproduce markets; they actively transform them. They become what the famous sociologist Robert K. Merton called self-fulfilling prophecies. (Ironically, Merton was the father of Robert C. Merton whose infamous hedge fund Long-Term Capital Management became itself a self- fulfilling prophecy of financial doom.)
So, bitcoin’s halving, or the predictions of models such as the stock-to-flow model, could themselves become self-fulfilling prophecies. This could result in a self-validating feedback loop of upward price acceleration. This isn’t to say that it will happen. But if enough investors and traders start to believe in them, the model and the reality might indeed start to converge.
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• Letter from the Philippines: Life During Coronavirus || Latest Bitcoin price and analysis (BTC to USD): As the typically low volume weekend looms, Bitcoin continues to act indecisively after failing to breakout above the key $7,000 level of resistance. The majority of global stock markets have shown clear signs of recovery over the past three years, with the Dow Jones rallying by 26%. However, the rise hasn’t trickled across to cryptocurrencies with Bitcoin seemingly remaining the most steady of all global assets. A clear break below $6,400 will present an opportunity for bearish traders to drive it back below the $5,900 level of support, which will reinforce the recent death cross. The daily 50 EMA crossed the 200 EMA the downside on 14th March, with it historically being a very bearish pattern in the history of Bitcoin. It would not be impossible for Bitcoin to be dealt a further 50% correction from here, which would take price to 2018’s low of $3,150. Much of it will depend on the impact of Coronavirus and the recovery of global stock markets, with Bitcoin showing clear signs of correlation since the turn of the year. The Bitcoin halving later this year may also have some impact on price as it will see block rewards for miners halved from 12.5BTC per block to 6.25BTC per block, which will theoretically reduce supply. If Bitcoin can manage to defy all odds by breaking out above $7,000, this weekend price targets remain at $7,400 and $8,190, which is also in confluence with the daily 200 EMA. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. Story continues The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. || Chinese Crypto and Blockchain Firms Grapple With Coronavirus Outbreak: Chinese cryptocurrency exchanges and other blockchain companies are coping with a new reality as the coronavirus outbreak continues to disrupt their daily operations.
While crypto trading, customer service and marketing remain largely intact, the outbreak has taken its toll on technical upgrades, product development, logistics and business travel, according to a dozen executives in China interviewed by CoinDesk.
Following the outbreak, the Chinese government extended its Lunar New Year vacation by one week to Feb.10. Weeks later, a few major Chinese cities remain locked down, and many companies have asked their employees to work from home – including blockchain businesses.
Related:Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ
“We encourage our employees to work remotely after the vacation as there are so many people from every part of China coming back to work,” said Aurora Wong, vice president at ZB Group. “The coronavirus is not a regional epidemic, it has been spread across the country and even to other countries.”
The outbreak “has caused psychological stress on people,” Wong said. “While many cities are not technically in lockdown, it is definitely not encouraged to come out for our own health and the whole society to get the epidemic under control.”
Founded in China in 2013, Switzerland-based ZB Group claims its crypto exchange now serves over 10 million users, with $3 billion in average daily trading volume. It has operations across the world including China, Singapore, South Korea and the U.S.
According to Wong, the outbreak is likely to slow the exchange’s technical upgrade to a new version. The upgrade could include front-end mobile apps for users as well as the back-end trading engine.
Related:The View From China: Crypto, Crisis and Digital Currencies Feat. Matthew Graham
Before the outbreak, “we were very efficient and fast on upgrading our platform because people across different departments such as the engineering team, product development and marketing could meet and work together to carry out plans,” Wong said.
However, the outbreak has had only a limited impact on daily operations of ZB’s trading platform since the firm keeps a schedule to rotate its staff to maintain the exchange, according to Wong.
Estonia-based Bibox crypto exchange, which also originated from China, said it has a contingency plan to tackle the operational challenges due to the coronavirus outbreak.
“We might relocate our core engineering team to other Asian countries such as one of our Asian headquarters in Singapore or Vietnam where there are much fewer infected cases,” said Aries Wang, co-founder of Bibox.
According to Wang, Bibox’s trading, marketing and customer service have not been affected much, but new product development and networking events with potential investors have been disrupted to a degree.
“We originally planned a meeting for Chinese crypto funds and private equity firms in London to pave the way for our potential initial public offering on the London Stock Exchange in March,” Wang said. “The meeting and IPO would probably be delayed to a later date.”
Further, when Bibox lists new tokens, the product development team needs to work very closely with the engineering team, creating custom services for clients and upgrading its own exchange platform. But this requires face-to-face meetings, which are for now rare.
OKEx, one of the top three crypto exchanges by trading volume, said it’s staying vigilant now that it has resumed business after the vacation.
“We suggested our employees stay where they already are, avoid crowds as much as possible and reduce business trips,” Jay Hao, the CEO of OKEx, said of its headquarters in Hong Kong.
“Our offices have been completely disinfected, and we have also prepared protective equipment such as surgical masks, liquid soap and alcohol-based sanitizer for all of our employees,” Hao said.
The firm has upgraded its IT systems, such as phone and video conference software, to streamline the process of working from home and ensure normal operations throughout its global offices, according to Hao.
Outside of trading venues, other blockchain startups in the region say they’ve been significantly affected by the outbreak.
B-Labs, a blockchain incubation center co-founded by Canaan Blockchain, OK Group and Yangtze Delta Region Institute of Tsinghua University, has decided to reduce rents for some of the startups that use the space and open a platform for them to apply for subsidies.
Conflux, a Beijing-based blockchain firm, is also coping with the outbreak’s ramifications.
“Coronavirus has affected us in a way that we had to replan many offline events within the Asia Pacific region,” Christian Oertal, chief marketing officer at Conflux, said. “We had to pivot into organizing and participating in online events.”
“As for office work, everyone at Conflux is working remotely from home. The health of everyone in the company should not be put into any risky situation in current times,” he added.
Another part of the blockchain industry which has been significantly affected by the outbreak is mining, the business of running expensive computers that race to solve math problems in order to record transactions and secure crypto networks.
A spate of miner manufacturers, including Bitmian, MicroBT and Canaan, have expected some of their deliveries to be delayed due to slow logistics caused by the outbreak. Some of the mining farms are short of workers to maintain machines, while a few mining farms have beenshut downby local governments as part of the measures to contain the epidemic.
The growth rate of mining difficulty, an indicator of the level of competition among bitcoin miners, has been slowing since the coronavirus outbreak,signalingthat miners have paused upgrading to newer, more powerful machines.
In the most recent two-week cycle, from Feb. 11-25, this gauge declined for the first time since early December.
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• West Virginia Ditches Blockchain Voting App Provider Voatz || Banks Have to Embrace Distributed Ledger Tech, Even if It Kills Them: Chuck Fried is the president and CEO of TxMQ , a technology consulting and integration company specializing in the financial services industry. He has more than 30 years of experience helping banks set up, manage, transform and evolve their IT systems to improve customer service and reduce the risk of fraud and data loss. As someone who spends a large amount of time inside IT departments of major banks, I like to tell people two things. The first is that some of the brightest and cleverest people I’ve ever met work in bank technology groups. The second is that many banks have facilitated a culture of complacency when it comes to technological transformation. I find this attitude often presents itself as fear – more specifically, fear of change. It’s understandable: Over time a leading market position, steady successes and routine, if not staggering, annual growth starts to make one feel immune from competition. You begin to become complacent. And what is complacency really but fear of change? Related: Crypto Progressives Become Conservative With Their Own Chains Nowhere is this complacency more evident than in the way the banking industry is looking at distributed ledger technology (DLT or blockchain). I see DLT treated as anything from a passing fancy to an unwelcome distraction by banking IT leaders. In my experience, these attitudes are the result of a lack of information about the tech. To that end, here’s what I tell bank leaders about blockchain and DLT. The power of entropy For decades, banks operated in virtual vacuums. Few external pressures could touch them. Customers made deposits and took out loans. The delta between savings rates and loan rates was the bank’s operating profits. That business model created tremendous wealth for banks in the U.S. and around the world. The system all worked perfectly – until it didn’t. Throughout banking history what little innovation that has occurred has proceeded at a glacial pace, typically being driven by what we would today call “fintechs.” New technologies came primarily in the form of point solutions built by outside firms: Check imaging, for instance, didn’t originate in bank in-house technology groups, but rather at external firms that were later absorbed by banks. In short, most of the tech we see, use and expect from our banks was built somewhere else and later acquired by banks. Story continues Now, though, banks are increasingly threatened by the rise of competitors including alternative banks and the modern fintech economy. These businesses come primarily out of Silicon Valley startup culture, which emphasizes disruption rather than continuity with established business models. With either innovative tech (mobile banking) or innovative business models (e.g., online lending marketplaces) or both, they are gobbling up whole customers bases that have been traditionally held by the big banks. Take mortgages, for instance: The top five U.S. banks accounted for just 21 percent of mortgage originations in 2019, compared to half of all mortgages in 2011. Beyond ‘innovaphobia’ Related: MakerDAO’s Problems Are a Textbook Case of Governance Failure These developments are forcing banks to confront their fear of change in a way they haven’t had to previously. The result is that many are forcing themselves to innovate faster than they ever have before. That’s why when I work with banking clients I’m constantly bringing up DLT as one of a number of new technologies to explore. It should be taken as gospel that banks have an inherent fear of innovation, but even within that mindset DLT occupies a uniquely anxious space. Technology may be all ones and zeroes but there’s something about digital ledgers that makes bank IT teams’ heads spin. What I tell these skeptics is that while they’ve been complacent and resting on their laurels, blockchain POCs have been quietly winning the day. The technology works. Works amazingly well for the right use cases. Blockchain startups, pursuing applications from cross-border payments to supply chain management to digital identity management, are now too numerous to name. Major economists have in recent years embraced blockchain as part of a solution to address various global finance challenges. The upshot: If your banking institution isn’t already putting R&D work into blockchain solutions, then you’re already behind. I’ve found that clients don’t really know what to do with DLT. They don’t understand the right use cases, and so often suggest ideas that sound really interesting, but aren’t well suited to the technology. Educating banks on what DLT can do and what it cannot is thus crucial. Banking on blockchain It bears noting that some of the most interesting and potentially game changing use cases are those that present the greatest existential threat to banks. Banks are middle people. Intermediaries. Customers deposit, banks lend. What if we didn’t need this service and could eliminate this need for the bank as a “third party” to transact? What if we could interact directly using DLT, without a need for a financial services intermediary at all? This is the true promise of blockchain. Transactionality in a trustless world. This is where fintechs play, and banks fear to tread. Thus, paradoxically, DLT is both a threat and an opportunity for banks. The threat as laid out above is that banks’ own resistance to change will lead to them watching the opportunity of DLT pass them by – because DLT is going to transform the economy, with or without their leadership. If banks want to secure their futures, it is vital that they confront their fear of change and embrace innovation in all its disruptive splendor. That’s the opportunity in front of them now. Related Stories Why Bitcoin’s Safe-Haven Narrative Has Flown Out the Window Extreme Social Distancing: Self-Quarantine Diary, Day 1
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-01-02]
BTC Price: 14982.10, BTC RSI: 51.77
Gold Price: 1313.70, Gold RSI: 72.01
Oil Price: 60.37, Oil RSI: 67.96
[Random Sample of News (last 60 days)]
North Korea May Be Behind the Latest Bitcoin Heist in South Korea: Report: Looks like someone was eager to get in on the bitcoin action, but not willing to pay for it.
According to aWall Street Journalreport, someone hacked South Korean bitcoin exchange Youbit earlier this week, stealing about 17% of its assets. The heist caused the exchange to collapse, and investigators think that North Korea may be behind it.
Cut off from the rest of the world due to sanctions, the North Korean regime is teetering on the brink of financial crisis. According to unnamed sources cited by theJournal, cryptocurrency offers the regime a new way to raise money.
Read:CEO Says Beware of North Korean Hackers ‘Building a Cache of Bitcoin’
South Korean law enforcement is investigating the heist, but those familiar note that evidence points to North Korea being responsible. This is not the first time Kim Jong-un and his cronies have been accused of bitcoin theft.
The perpetrators of this year’sWannaCry attackdemanded bitcoin payment for the release of the digital files they had locked. On Tuesday, the White House claimed that the attack was carried out by Lazarus, a group that works on behalf of the North Korean government.
Read:Bitcoin Price Drops Below $14,000 as Cryptocurrency Competition Heats Up
Radio Free Asiareported in April that North Korea stole more than $88,000 worth of bitcoin between 2013 and 2015. And hackers linked to the North Korean governmentstole nearly 4,000 bitcoins from Youbitearlier this year. Due to the similar nature of this most recent attack, it is expected that North Korea is likely responsible.
Youbitpublicized the attackearly Tuesday morning, not disclosing how many bitcoins had been stolen, but noting that a share of its total assets were gone. Following the heist, the exchange suspended trading and filed for bankruptcy. || Here's Why Bitcoin Cash Soared Today: The price of Bitcoin Cash, a so-called “hard fork” of Bitcoin, soared on Tuesday after Bitcoin.com co-founder and CTO Emil Oldenburg said that he has sold all of his original Bitcoins and replaced them with the rising altcoin.
“An investment in Bitcoin right now I would say is the most risky investment one can make. It is extremely high-risk. I’ve actually sold all of my Bitcoins recently and switched to Bitcoin Cash,” Oldenburg told Swedish tech siteBreakit.
Oldenburg also cited increased transaction fees and slow confirmation times as two reasons for his departure from Bitcoin. These issues, which have been caused by skyrocketing interest in the original cryptocurrency, were the primary catalysts for the creation of Bitcoin Cash.
Launched in August, Bitcoin Cash is hard fork of Bitcoins. A hard fork in the cryptocurrency world refers to a change in the rules of the blockchain infrastructure that is not recognized as valid by the older software. In some ways, hard forks are similar to stock splits in that they are designed, in part, to alleviate barriers to entry for new users.
Oldenburg explained that his company, which serves as a popular Bitcoin wallet, has started to move away from Bitcoin and will begin focusing more on Bitcoin Cash.
“We’ve actually stopped developing new services for the old Bitcoin network now and are focusing mostly on Bitcoin Cash,” he said.
In the wake of Oldenburg’s comments, the price of Bitcoin slipped more than 3.5% on Tuesday morning, while the price of several notable altcoins—including Bitcoin Cash—soared to new highs. In overnight trading, Bitcoin Cash soared more than 20% to a new peak of $2,400.
Bitcoin Cash could also be benefitting from the news thatThomson Reutersadded the altcoin to its Eikon platform, making it the third cryptocurrency—after Bitcoin and Ethereum—to be included on the service. Eikon is a set of financial analysis software products that are used by hundreds of thousands of financial professionals.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportBITCOIN INVT TR (GBTC): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research || Tax Reform Could Help Boeing Win a Big Alaska Air Order: In recent years,Alaska Air(NYSE: ALK)has exclusively operatedBoeing(NYSE: BA)737s in its mainline fleet. However, its 2016 acquisition of Virgin America gave it a sizable fleet ofAirbus(NASDAQOTH: EADSY)A320 family aircraft.
For the past year or so, Alaska Air's management has been thinking about whether to keep the Airbus planes, or eventually return to an all-Boeing fleet. Last July, CEO Brad Tilden indicated that the company wasleaning toward the latter option. The recently passed tax-reform bill makes it even more likely that Alaska Air will place a big order with Boeing in the near future, with the goal of replacing its Airbus fleet over the next decade or so.
At its investor day last March, Alaska Air estimated that it could save $20 million-$25 million annually from having an all-Boeing fleet. Most of the cost savings would come from boosting pilot productivity. With a single aircraft type, every pilot would be able to fly every plane in the fleet. As a result, there would be fewer training events for each pilot, and the carrier would need fewer reserve pilots.
Alaska Air could save up to $25 million a year by going all Boeing. Image source: Alaska Air.
On the flip side, returning to an all-Boeing fleet would obviously require spending billions of dollars on new aircraft. Furthermore, Alaska might end up paying more for aircraft over time, since it would be locked into a single supplier.
One key provision of the recent tax-reform bill makes the prospect of buying lots of airplanes in the next few years much more appealing. From 2018 until 2022, companies will be able to deduct the cost of capital expenditures (capex) immediately for tax purposes. This provision will then phase out gradually over the following five years.
This "full expensing" of capex isa boon to faster-growing airlineslike Alaska Air. It effectively acts as a subsidy for capital spending. Companies that make big capital investments can defer a substantial part of their tax payments.
Alaska Air already plans to spend at least $2.2 billion over the next two years to expand its fleet, reconfigure Virgin America's airplanes, and complete its merger-integration activities. However, its total aircraft order book is quite modest. At the end of November, Alaska had 46 outstanding firm orders with Boeing. In fact, it has just $1 billion of committed aircraft capex for 2020 and beyond.
Alaska Air is scheduled to have 72 Airbus planes in its fleet by the end of this year, of which 62 will be leased. Forty-one of those leases expire between 2021 and 2023, and 53 expire by 2025. The other nine leases are for A321neos, arguably the most in-demand plane right now. This should make it easy enough for Alaska to exit those leases early. The 10 owned A320s would probably have to be sold at a modest loss.
Thus, it would be possible for Alaska Air to replace the bulk of its Airbus fleet in the 2021-2023 time frame. For the first two years, it would be able to fully expense its fleet expenditures, while in 2023, it could expense 80% of the cost.
Including Alaska Air's normal capex costs, this could reduce the carrier's cash tax bill to nearly zero in those years. In other words, the tax bill will make it much easier for Alaska Air to afford a major fleet overhaul in the next few years.
Tax savings could help Alaska Air pay for a fleet overhaul in the early 2020s. Image source: Boeing.
Alaska Air has stated that it would decide on the future of the Airbus fleet by the end of 2017. Yet the end of the year came and went with no announcement. (Uncertainty related to tax reform may have forced management to postpone the decision.)
It's quite possible that Alaska Air will announce its fleet plans in conjunction with the company's fourth-quarter earnings report. If so, Boeing could be in line for a big 737 order in early 2018.
Right now, Alaska Air only has enough firm orders for modest growth beyond 2019. If it opts to return to an all-Boeing 737 fleet over the next 8-10 years while continuing to grow at a mid-single-digit pace, Alaska Air could order as many as 150 Boeing 737s this year.
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Adam Levine-Weinbergowns shares of Alaska Air Group. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Cboe announces bitcoin futures to start trading Sunday: Cboe Global Markets (NASDAQ: CBOE) is leaping ahead of CME in an effort to become the first to launch bitcoin futures. Cboe announced Monday it is launching futures trading in the cryptocurrency beginning Sunday, Dec. 10, making the Chicago-based exchange the first to give investors a new way to wager on, and against, the booming new market. "Given the unprecedented interest in bitcoin, it's vital we provide clients the trading tools to help them express their views and hedge their exposure," Ed Tilly, Chairman and CEO of Cboe Global Markets, said in a release.The Cboe Futures Exchange plans to offer trading in bitcoin futures beginning 6 p.m., ET, Sunday and Monday, Dec. 11, will be the first full day of trading. Trading will be free through December, according to the release. In a race by major exchanges to offer bitcoin derivatives products, CME (NASDAQ: CME) announced Friday it would launch bitcoin futures Dec. 18. The Commodity Futures Trading Commission said Friday it would allow the CME and Cboe to launch bitcoin contracts. Cantor Exchange also self-certified a new contract for bitcoin binary options, the commission said. Cboe's bitcoin futures will trade under the ticker symbol "XBT" and will be cash-settled against the auction price from Gemini Trust, the digital currency exchange founded by twins Cameron and Tyler Winklevoss.In contrast, the CME bitcoin futures contract will be cash-settled against an index that's currently weighted to four bitcoin exchanges: Bitstamp, GDAX, itBit and Kraken. The launch of bitcoin futures by prominent exchanges is a significant step towards the legitimization of the digital currency that was once the focus of a handful of tech entrepreneurs and often associated with illegal activity in online marketplaces. Bitcoin futures will allow institutional investors to buy into the digital currency trend, and likely pave the way for a bitcoin exchange-traded fund in the U.S., analysts say. The digital currency is prone to sharp gains and losses of several hundred dollars in only a few hours, and enthusiasts say bitcoin futures will help investors feel more comfortable with buying bitcoin since they can use futures to protect against major losses. "The prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class," Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said in a Friday report.Bitcoin has surged more than 1,000 percent this year to above $11,000, helped by increased interest from institutional investors. Twenty-four hour trading volume in bitcoin was $6.6 billion, according to CoinMarketCap.WATCH: Next stop in the cryptocurrency craze: a government-backed coin Cboe Global Markets (NASDAQ: CBOE) is leaping ahead of CME in an effort to become the first to launch bitcoin futures. Cboe announced Monday it is launching futures trading in the cryptocurrency beginning Sunday, Dec. 10, making the Chicago-based exchange the first to give investors a new way to wager on, and against, the booming new market. "Given the unprecedented interest in bitcoin, it's vital we provide clients the trading tools to help them express their views and hedge their exposure," Ed Tilly, Chairman and CEO of Cboe Global Markets, said in a release. The Cboe Futures Exchange plans to offer trading in bitcoin futures beginning 6 p.m., ET, Sunday and Monday, Dec. 11, will be the first full day of trading. Trading will be free through December, according to the release. In a race by major exchanges to offer bitcoin derivatives products, CME (NASDAQ: CME) announced Friday it would launch bitcoin futures Dec. 18. The Commodity Futures Trading Commission said Friday it would allow the CME and Cboe to launch bitcoin contracts. Cantor Exchange also self-certified a new contract for bitcoin binary options, the commission said. Cboe's bitcoin futures will trade under the ticker symbol "XBT" and will be cash-settled against the auction price from Gemini Trust, the digital currency exchange founded by twins Cameron and Tyler Winklevoss. In contrast, the CME bitcoin futures contract will be cash-settled against an index that's currently weighted to four bitcoin exchanges: Bitstamp, GDAX, itBit and Kraken. The launch of bitcoin futures by prominent exchanges is a significant step towards the legitimization of the digital currency that was once the focus of a handful of tech entrepreneurs and often associated with illegal activity in online marketplaces. Bitcoin futures will allow institutional investors to buy into the digital currency trend, and likely pave the way for a bitcoin exchange-traded fund in the U.S., analysts say. The digital currency is prone to sharp gains and losses of several hundred dollars in only a few hours, and enthusiasts say bitcoin futures will help investors feel more comfortable with buying bitcoin since they can use futures to protect against major losses. "The prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class," Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said in a Friday report. Bitcoin has surged more than 1,000 percent this year to above $11,000, helped by increased interest from institutional investors. Twenty-four hour trading volume in bitcoin was $6.6 billion, according to CoinMarketCap. WATCH: Next stop in the cryptocurrency craze: a government-backed coin More From CNBC Stocks making the biggest moves premarket: CVS, DIS, AVGO, APRN & more Southwest, Microsoft, Apple could benefit from tax cuts: Barron's US Treasury yields rise after major US tax bill is approved || 2017 – 5 Most Influential People of the Year: It’s been quite a year, with Bitcoin coming close to $20,000 and the U.S equity markets seeing record runs, with the Dow knocking on the heels of 25,000 and then there is Trump’s tax reforms, the end of ISIS and the ongoing investigations into the U.S election campaign that seems to have gotten ever closer to the U.S President himself.
Picking the most influential people of the year is certainly not an easy task with so much having been achieved throughout the year, so it would be without surprise that such lists differ greatly from one to the next.
The top 5 selected are not made up of those without market influence or get on with their work out of the spotlight. Impact on the financial markets and the future have been key considerations in making the selection.
Like him or loathe him, the U.S President has spent more time in the public eye, influencing the markets and the Dollar by a greater extent than any President since Ronald Regan’s capitalism drive of the 80s. Granted that much of the credit to the U.S economic recovery should be attributed to Yellen and the team, but the record runs have come on Trump’s watch and expectations of growth policies have been a key driver. Some may even continue to choose him purely in acknowledging that the U.S was spared from a Hillary Clinton presidency. While failing on repealing the Obama Healthcare Bill, he’s delivered on the tax reform promise and that’s not a bad achievement considering how badly the Obamacare repeal bill went.
AmazonInc.’s CEO and owner of the Washington Post is certainly not one to shy from the public eye. Amazon’s rise has been an impressive one and even with the stock’s current $1,174.76 value, Bezos’s ambitions for the company make the stock one of the must-haves in any portfolio. His selection is based on influence and the markets certainly acknowledged his influence this year when stocks considered being adversely impacted by Amazon’s ascendancy led to a combined $30bn in the loss in value on the same day as Bezos announced that he wants Amazon to become the world’s largest retailer.
The CEO of Apple Inc. had some big shoes to fill in the passing of Steve Jobs and many had written off, not only Tim Cook but alsoApple Inc.on the expectation that its innovative advantages would be lost along with Jobs. It’s been quite an extraordinary year for Apple and when considering the fact that Apple’s market cap has risen from just under $350bn to its current $898.56bn (as at 21.12.17) under CEO Tim Cook, that’s quite a rise and has taken Apple to the top of the list by market cap as it looks to knock on the $1tn door. The iMacs and iPhones of today could well become the iBots and iCars of tomorrow and Tim Cook looks to have preserved Steve Jobs’s vision for the company.
Whether the U.S President can make it into next year’s top 5 remains to be soon. Special Counsel Robert Mueller has continued to lead an investigation that has edged ever closer to the Oval Office door. We’ve seen Mueller catch Trump’s son-in-law Kushner and of course, there’s former national security adviser Michael Flynn to consider, with Flynn’s willingness to testify against the U.S President coming from Mueller’s relentless search for the truth. Like others on the list, Mueller’s doggedness and findings throughout the year have shaken the markets and he’s closing in on the biggest apple on the tree.
South African born, Musk is far from home, runningTesla Inc.with an electric car vision that has taken the car industry by storm. Tesla Inc. may not be the biggest car manufacturer, but its innovation and progress in the electric vehicle space have caused the Fords and GMs of this world to stand up and take notice. The threat of a Tesla Inc. world alone has led to the speed up of electric car development programs across the world’s largest car manufacturers. Such an influence alone is worthy of making the list. Some even suggest that he may be Satoshi Nakamoto…
Thisarticlewas originally posted on FX Empire
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• 2017 – 5 Most Influential People of the Year || Why These Bitcoin Stocks Are Tumbling Today: What happened Shares of three stocks, Riot Blockchain (NASDAQ: RIOT) , Overstock.com (NASDAQ: OSTK) , and Seven Stars Cloud Group (NASDAQ: SSC) , that have ridden cryptocurrency mania to explosive gains tumbled on Friday. These declines were driven by a reckoning in the cryptocurrency markets, with bitcoin and other high-profile digital currencies suffering from major sell-offs. Stock % Change at 11 a.m. EST Daily Low as of 11 a.m. EST Riot Blockchain (9.9%) (26.8%) Overstock.com (6.7%) (14%) Seven Stars Cloud Group (12.5%) (24.5%) Data source: Google Finance. So what Shares of these three companies have soared recently due to bitcoin- and blockchain-related developments. Riot Blockchain was known as Bioptix prior to a name change and a shift in strategy in October. The company now focuses on buying cryptocurrency and blockchain businesses. It previously focused on making diagnostic equipment for the biotech industry. A coin with a B on the face, against a background of a chart. Image source: Getty Images. Overstock.com, an e-commerce company, has been investing in blockchain for the past few years. The stock soared this year thanks to various blockchain-related initiatives, including a joint venture for a global property registry and the tZERO security token sale. Seven Stars Cloud Group announced in September that it planned to launch an asset-backed securitization, tokenization, and exchange platform powered by artificial intelligence and blockchain. In December, the company bought an additional 20% stake in BBD Digital Capital Group, with plans for the company to "operate a global AI + Blockchain digital issuance and trading platform of index / future derivatives." OSTK Chart OSTK data by YCharts . These rallies hit a speed bump on Friday when major cryptocurrencies experienced steep declines. At 11:15 a.m. EST, here's how these digital assets had fared over the past day: Cryptocurrency 1-Day Change Bitcoin (19.5%) Ethereum (23.2%) Bitcoin Cash (29.7%) Ripple (20.5%) Litecoin (24.9%) Data source: Yahoo! Finance. Story continues All three companies have tied themselves to cryptocurrency, with speculators pushing up the stocks in hopes of selling at a higher price to a "greater fool" down the road. Their massive rallies, driven by nothing more than name changes and press releases, have a striking similarity to the dot-com bubble, when slapping a ".com" onto a company's name would send a stock soaring. This cryptocurrency correction may not be the end of this mania. Bitcoin has crashed before, each time eventually rising to new heights. That may happen again, or this may mark the beginning of the end of the cryptocurrency bubble. Now what A rule of thumb for investing in stocks: Don't buy a stock because you think it will go up in price; buy it because it's worth more than the price, based on fundamentals and growth prospects. Riot Blockchain doesn't have fundamentals -- it produced no revenue over the trailing-12-month period and posted a net loss of $13 million. Seven Stars produced $107 million of revenue over the past nine months, but managed a gross margin of just 5.5% and a net loss of $5.1 million. And Overstock has never been very profitable, producing typical operating margins in the ballpark of just 1%. Cryptocurrency mania may not end anytime soon, and it could just be getting started as more people pile into digital currencies. These stocks may very well recover if bitcoin and other cryptocurrencies start moving higher. But none of this will last forever, and Friday's rout should be a wake-up call for those speculating in bitcoin stocks. 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 . || Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally: By Jemima Kelly and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) - Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion. After soaring more than 1,000 percent since the start of the year, bitcoin rose as much as 15 percent on Wednesday, but by mid-afternoon in New York, the virtual currency was trading at $9,500, down 3.7 percent on the day on Luxembourg-based Bitstamp , one of the largest and most liquid cryptocurrency exchanges. "As many seasoned traders know all too well, anything that rockets higher, tends to fall down faster when the time comes, and the time will come," James Hughes, chief market analyst at FX broker AxiTrader, said. Bitcoin topped $10,000 for the first time in early Asia trading, before surging above $11,000 less than 12 hours later to reach $11,395. Bitcoin's rapid ascent has led to countless warnings that it has reached bubble territory. But the warnings have had little effect, with dozens of new crypto-hedge funds entering the market and retail investors piling in. (To view a graphic on Bitcoin's blistering ascent, click http://tmsnrt.rs/2AHKJPd) London-based Blockchain.info, one of the biggest global bitcoin wallet-providers, told Reuters on Wednesday that it had added a record number of new users on Tuesday, with more than 100,000 customers signing up, taking the total number to more than 19 million. The evidence suggests that few of the users are buying bitcoin to use it as a means of exchange, but are speculating to increase their capital. "What's happening right now has nothing to do with bitcoin's functionality as a currency – this is pure mania that's taken hold," said Garrick Hileman, a research fellow at the University of Cambridge's Judge Business School. Hileman, who last week gave a lecture to the Bank of England on the risks of bitcoin and other cryptocurrencies, also flagged the risk of the whole market collapsing entirely. "There's always the possibility that some fundamental cryptographic flaw that we can't solve craters the whole space, or that regulators unite and decide this represents systemic risk and actually could trigger the next financial crisis," he said. "EXIT RAMPS" Created in 2008, bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds outside of a conventional centralized payment system. It has far outstripped gains seen in any traditional asset classes or currencies this year. Its rise accelerated in recent months as exchanges such as the CME Group Inc and the Chicago Board Options Exchange announced plans to offer futures contracts for the cryptocurrency. On Wednesday, a source with knowledge of the matter said Nasdaq Inc plans to launch a futures contract based on bitcoin in 2018. Sceptics say it is a classic speculative bubble with no relation to real financial market activity or the economy - most famously JPMorgan boss Jamie Dimon, who labeled it a "fraud". But even Dimon and others who say bitcoin represents a bubble - now the consensus view among mainstream investors - do not deny its price rise could still have further to go. "It’s got all the shapings of your tulip bubble chart (but) that tells you nothing about where that price line could go depending on the number of people who wish to own it," Standard Life's head of investment strategy, Andrew Milligan, said on Wednesday. "Who is to say it doesn’t reach $100,000?" In some emerging markets, bitcoin had hit well over $10,000 previously. In South Korean exchanges, too, bitcoin was already close to $11,000 or higher early this week. On Zimbabwe's local exchange golix.com bitcoin touched a new high of $18,500 on Wednesday before retreating to $18,000. The fact that bitcoin now provides "exit ramps" from national currencies that were becoming easier to use, Hileman said, could exacerbate any future financial crisis. Coordinated regulatory action might therefore be necessary in order to stave off an "economic calamity", he said. Despite its mushrooming value, however, Bank of England Deputy Governor Jon Cunliffe said on Wednesday bitcoin was not big enough to pose a risk to the global economy. New York Federal Reserve President William Dudley said the Fed is in the early stages of considering "what it would mean" to offer digital currencies sometime in the future and whether it may be necessary as an alternative to cash. Mike Novogratz, a former macro hedge fund manager at Fortress Investment Group, said in a Reuters Investment Summit this month that mainstream institutional investors were about six to eight months from adopting bitcoin. (Additional reporting by Marius Zaharia in Hong Kong, Vidya Ranganathan in Singapore, Helen Reid and Dhara Ranasinghe in London, and MacDonald Dzirutwe in Harare; Editing by Alison Williams and Susan Thomas) || Foreign investors might be the key to forecasting a U.S. recession: The key to seeing a U.S. recession before it happens might hinge on what investors in the rest of the world are doing in America.
In a new note to clients out Monday, Carl Weinberg, chief economist at High Frequency Economics, writes that he stumbled onto a relationship between foreign direct investment (FDI) and U.S. recessions that bears watching given current trends.
Foreign direct investment, which is exactly what it sounds like — foreign investors buying real estate, financial assets and businesses in the U.S. — has risen as a percent of GDP ahead of each of the recessions since the 1980s.
And in recent years, FDI has spiked, hitting $457 billion in 2016 and $465 billion in 2015 after both 2013 and 2014 saw FDI total $201 billion.
“We admit to having no economic theory to explain this,” Weinberg writes. “That does not deny the correlation. We wonder if we should be concerned about the jump in FDI in the United States in 2015 and 2016 to near-record highs, since all previous spikes in FDI have been followed by a downturn.”
There are few ideas that Weinberg posits as to why this relationship might hold.
One is that foreign investments take longer to materialize than those made at home. This means that investors outside the U.S. might not eye up investments until the business cycle has started to mature, and won’t execute those deals until things are just about to turn.
Another idea, which Weinberg calls “of a more sinister nature,” is that foreign direct investment is part of an influx of speculative money that enters the economy as things heat up, thus exacerbating the impacts of a cycle’s turn.
“How much money from abroad, for instance, piled into the U.S. real estate bubble of 2007, or bought into the dotcom bubble?” Weinberg writes. “In this way, [foreign direct investment] can add incremental destabilization to a cycle in any economy.”
Look at Softbank’srecent investmentin beleaguered ride-hailing startup Uber — in which the Japanese conglomerate could take up to a 14% stake in the company — and you might see signs that foreign investors are snapping up assets that may have already exhausted its U.S. investor base. Alternatively, withover $11 billion raisedand85 investors, Uber is just fine.
The recent increase in FDI might also be explained by a more benign source of motivation among foreign investors, which is that as the dollar appreciated against other currencies, U.S.-based assets became relatively more attractive.
Through the first half of 2017, FDI has totaled $155 billion, notably below the pace of the last two years, as the dollarhas had one of its worst years in decades. The uptick in FDI seen ahead of the housing crisis, in contrast to 2015 and ’16, came as the U.S. dollar was actually depreciating against other currencies.
And, of course, that a relationship has held in the past need not mean that it holds in the future. Therecent flattening of the yield curve, political uncertainty in the U.S., and the lack of volatility in markets have all been cited as reasons for investors to be nervous about the current economic cycle. LastThursday’s mini sell-offand the reaction that ensued also shows that, to some extent, investors are in search of things to be worried about; perhaps FDI can take up that mantle.
But with most assessments of the U.S. economy expecting continued expansion, it is worth asking if investors from outside the country are telling us something we can’t yet see about our economic cycle.
—
Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland
Read more from Myles here:
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• America’s shortage of workers is about to get ‘much worse’ || CBOE President: Bitcoin ETFs Will Follow Futures Products: The Chicago Board Options Exchange (CBOE) is expressing new confidence in bitcoin's future.
Inan earnings conference callthis week, Chris Concannon, president of the derivatives exchange operator, stated that he sees exchange-traded funds (ETFs) based on the cryptocurrency coming to markets. Concanno went so far as to refer to bitcoin as a new asset class, saying he believes in the cryptocurrency space in general.
He said:
"With regulated futures of a certain asset class like a bitcoin, you do have an opportunity to introduce ETFs and over time we do envision ETFs coming to market.”
Last week, rival derivatives marketplace operator CME Groupannouncedits intention of offering a bitcoin futures contracts product by the end of 2017, pursuant to approval by U.S. regulators. The company followed CBOE itself, which said it wouldlaunch its own bid to offer derivatives based on cryptocurrenciesin back in August.
CBOE is also waiting on approval from government regulators.
The statements are notable given that previous attempts to launch ETFs based on bitcoin have not met with success. In September, money managerVanEckwithdrew its own filing for a futures ETF after receiving pushback from the U.S. Securities and Exchange Commission. Similarly,REX ETFswithdrew its own filings a week later.
This pushback has not stopped other companies from trying to file for a derivatives product.ProShares Capital Managementfiled for two products in late September, though it is still too early to determine whether the bid will be approved or not.
Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk's parent company.
Chris Concannon imagevia YouTube
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• Smart Contract Issues Set Off 'Alarm Bells', Says US Regulator || Bitcoin and Ethereum Price Forecast – BTC Prices Crash as SegWit2X Raises Its Head Again: We have been repeatedly mentioning in many of our recent forecasts that the BTC prices are stalling and with the introduction of the BTC futures at the various exchanges, it brings into a whole new dimension of trading into the bitcoin market. It has also led many of the speculators to think twice before investing into BTC and many of them seem to have migrated to the alt coins as is evident from the way that their prices have been rising in the recent weeks. As more evidence of the same, we saw the BTC prices crash by more than 15% from their highs over the last 24 hours and the volatility continues in the market as of this writing.
Get Into Bitcoin Trading Today
The BTC prices trade just above tthe $17,000 region as of this writing and it is likely to remain under pressure in the short term. Though all of the factors above have contributed to the weakness in the BTC prices, the immediate trigger seems to be the new that the hard fork SegWit2X which had been dropped in November is likely to be revived and pushed through and this is likely to bring in a lot of uncertainty and confusion in the bitcoin industry once again. This is not liked by many of the traders and investors and they have begun to pull out of BTC and so far today, Bitcoin Cash seems to be the biggest beneficiary as it has been buoyed by news that it would be listed by Coinbase.
The ethereum market also seemed to bear the brunt of the fall in the BTC prices for sometime as it fell towards the $720 region but it has since managed to recover back and trades just below the $800 region as of this writing. We continue to believe that the ETH market has better fundamentals than most and hence believe in it for the medium term and the long term.
Looking ahead to the rest of the market, we expect the BTC prices to continue to be under pressure as more news comes out regarding the Segwit2X hard fork and traders should be careful not to jump into this kind of volatility. ETH seems to be a much better bet at this point of time and this should benefit the ETH market in the short term as we look for new all time highs from the ETH prices.
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Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
Just after CBOE BTC future trade begin, Korean BTC ban is likely to be announced early next week. Is it short time? || RT BTCTN: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales http://ift.tt/2kFBGaM #Bitcoin pic.twitter.com/lXmcmnPDj2 || Tiffany Haddishちゃんが || Tiffany Haddishちゃんが || bitcoin priceってゆうか、 || I still have like 0.025 BTC from when I tried it out years ago but I'm too lazy to do anything about it || bitcoin priceってゆうか、 || LIVE Event in Frankfurt am Main
Passives Einkommen mit Bitcoin und Co.
Dienstag, November 28ter 19:00-21:00 Uhr
https://goo.gl/sqJneS || Tiffany Haddishちゃんが || こんばんは。 bitcoin priceという
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Trend: down || Prices: 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-09-23]
BTC Price: 230.28, BTC RSI: 44.79
Gold Price: 1131.60, Gold RSI: 54.33
Oil Price: 44.48, Oil RSI: 47.80
[Random Sample of News (last 60 days)]
Phone Carriers Hoping To Profit From New iPhone: With Apple Inc. (NASDAQ: AAPL ) expected to unveil its latest iPhone model on Wednesday, many are already beginning to speculate as to how the new handset will be received by customers. However, it isn't just Apple that will benefit from the highly anticipated phone. Carriers like AT&T Inc. (NYSE: ATT ) and Sprint Corp (NYSE: S ) are also expected to receive a boost as customers look to upgrade their phones by switching providers or signing on for a new plan. New Ways To Pay While a new iPhone used to set U.S. customers back by about $200, the new iPhone is expected to be heavily marketed for installment and leasing plans . By offering customers the potential to upgrade their phone without a large initial investment, U.S. carriers are hoping to attract more customers. A price war between companies like AT&T, T-Mobile US Inc (NYSE: TMUS ), Verizon Communications Inc (NYSE: VZ ) and Sprint has made it increasingly difficult for companies to get, and keep customers. Related Link: The iPhone Generates More Revenue Than Google, eBay And Facebook Combined Getting A Phone The new iPhone is expected to be a big hit for companies like Sprint and T-Mobile which are offering leasing plans. For between $22 and $27 per month, customers can lease a new iPhone for two years. The deal means that they can upgrade to the latest and greatest smartphone more often, something that has appealed to many in the rapidly changing tech space. Others like Sprint are calling for customers to switch providers by offering the phone for $200 when signing up for a new contract. All of the U.S.' big name carriers allow users to upgrade to the new phone by paying in monthly installments until the cost of the device has been paid off. Biggest Winners While the big name carriers are all offering some sort of deal that includes a shiny new iPhone, many analysts believe that the biggest winners from the new iPhone release will be Sprint and T-Mobile because they are offering leasing plans. The leasing option is a relatively new offering that Sprint rolled out when the iPhone 6 came out. Story continues The idea of getting a new phone every two years and avoiding a huge initial investment has appealed to U.S. consumers and could become even more popular once the iPhone arrives. See more from Benzinga Apple Aims To Read Your Mind Is Europe The New Home For Bitcoin? iBusiness, iPrograms: Apple Stretches Its Legs © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || WeedLife Steps Up To Fill Marijuana Advertising Gap: The marijuana industry has grown exponentially over the past decade as more and more states legalize the drug for both medicinal and recreational use. However, cannabis-based firms are extremely limited when it comes to getting their names out there as state and federal laws prohibit most forms of advertising.
Companies likeGoogle Inc(NASDAQ:GOOG) andYahoo! Inc.(NASDAQ:YHOO) are reluctant to engage with marijuana-related firms, leaving very few options for a pot company trying to get noticed. Advertising regulations for marijuana firms are stricter than that of tobacco and alcohol, making it difficult for dispensaries to reach their target audiences.
Related Link:Surprised? Marijuana Use On The Rise At College Campuses
Working Together
TheWeedLife Networkis hoping to fill that gap by opening its network to allow legal marijuana advertising. WeedLife Network is a collection of over 40 different websites and apps for marijuana businesses and consumers that generates over 4.5 million page views each month.
The company hopes that by expanding its network to include marijuana-based advertisers, it will help propel the industry further by giving cannabis startups the tools they need to reach their customers.
The Google Of Marijuana
WeedLife Network co-founder Shawn Tapp said he hopes this new offering will draw in new businesses who are struggling to gain exposure. Tapp said that WeedLife will "aim to be the industry's replacement for Google's AdWords." The network will give businesses an easy way to reach their target audience as it already encompasses businesses and consumers interested in the marijuana industry.
See more from Benzinga
• Apple Aims To Read Your Mind
• Is Europe The New Home For Bitcoin?
• U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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. || Louis C.K. Embraces Bitcoin: Comedian Louis C.K. has joined the fast-expanding number of merchants who now accept bitcoin as a payment method by making it possible for fans to download his comedy shows and pay using the cryptocurrency. His decision toincorporate bitcoinon his website underscored the digital currency's growing presence in the entertainment industry, which many believe will ultimately help lead to mainstream adoption.
Bitcoin Integration
On Louis C.K.'s website, fans can download the comedian's albums and recordings and pay anywhere between $1 and $85. In order to give his supporters another way to pay, Louis C.K. partnered with payment processor BitPay to allow bitcoin supporters to use their mobile wallets. The new option is also beneficial to Louis C.K. who is able to avoid the high transaction fees charged by other processors likePayPal Holdings Inc(NASDAQ:PYPL).
Related Link:Could Mike Tyson Become The New Face For Bitcoin?
Positive Reception
So far, his decision to incorporate bitcoin has received a positive reaction from fans. It appears that some of Louis C.K.'s supporters are a part of the bitcoin community, and have already begun using the new payment option to purchase the comedian's recordings.
A Boost
This is not the first time that bitcoin has been a hot topic in the entertainment space. Earlier this summer a new film called "Dope" announced that movie goers could purchase their tickets using the cryptocurrency. The film also incorporated bitcoin into its plot, giving digital currencies more exposure.
Many believe that the adoption of bitcoin in the entertainment industry is essential to the cryptocurrency's mainstream adoption. Not only will it bring attention to the currency, but it may help to undo some of the negative publicity that bitcoin has received in past years after hacking attacks and scams made it out to be a tool for criminals.
Image credit:Chairman of the Joint Chiefs of Staff, Flickr
See more from Benzinga
• Is Medical Marijuana Effective?
• What's Happening To Media Stocks?
• Japan Says Bitcoin Can't Be Owned
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The 'Wolf of WhatsApp' wants to sell you penny stocks: (Paramount)The “pump and dump” scam is a classic stock trick.
Someone ruthlessly promotes a stock they hold, driving up the price based on artificial interest, and then sells before everyone realizes the interest was just manufactured.
Oftentimes, those stocks are “penny stocks,” which don’t trade on an exchange and are worth only a few cents a share.
Real life “Wolf of Wall Street” Jordan Belfort was famous for perfecting the pump and dumpto the tune of millions of dollarsfor himself and his posse.
But on Friday a new cadre of penny stock villains struck, this time on the popular messaging app WhatsApp.
I first noticed the scam when a friend of mine posted this screenshot on Facebook along with the caption,“Umm...What? Someone got the serious wrong number on Whatsapp.”
(Facebook)
But I didn’t put the pieces of the scam together untilThe Awl’sJohn Herrmanpointed out that the spam seemed to be part of a coordinated pump and dump scheme.
AVRN is the stock sign for Avra, Inc., which is a digital currency (think Bitcoin) company.
And the scam seems to have been dastardly effective. As you can see from this chart from Yahoo Finance, the stock for Avra shot up at around 11 a.m. before crashing shortly thereafter:
(Yahoo Finance)
Some people were clearly fooled, and assuming the scammers timed it right and didn’t totally bungle the operation, they probably made some cash.
This isn’t the first time that potential pump and dumpers have used an innovative messaging medium to cut through the noise.Last month,Twitter shares spikedbased on a phony report on awebsite made to look like Bloomberg.com. The story had said that Twitter was fielding an offer to be taken over for $31 billion.
NOW WATCH:The story behind the famously offensive twitter account that parodies Wall Street culture
More From Business Insider
• Here's what to expect from the next iPhone's camera, according to a person who's making it
• Make no mistake — this is the opening of the 'China Decade'
• It's no longer all about ads — Here's how publishers, streaming sites, and apps are using subscriptions to boost revenues || 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. || Bitcoins Officially Deemed A Commodity: Bitcoin prices have now rallied upward of 70 percent in the past 90 days50 percent in the past month alonethanks to a pickup in demand led by China. These gains are starting to show up in a pair of ETFs that offer some exposure to the crypto-currency. Its official: Bitcoins are a commodity in the U.S. The Commodity Futures Trading Commission (CFTC) said today that bitcoin, the cryptocurrency that has been gathering traction globally since the financial crisis of 2008, will be treated as a commodity for regulatory purposes, much like gold and oil. As such, trading in bitcoins should come under the same type of scrutiny that commodity trading does. The ruling is aimed specifically at derivatives trading firms that have been transacting in bitcoins without complying with CFTC rules. Must Follow Rules Like Others While there is a lot of excitement surrounding bitcoin and other virtual currencies, innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets, Aitan Goelman, CFTCs director of enforcement, said in a press release. For a long time, theres been a debate on whether bitcoins should be classified as a currency or a commodity. The distinction matters to the extent that it dictates regulatory standards that apply to the still largely unregulated cryptocurrency. Last year, the Internal Revenue Service began to offer some clarity about the status of bitcoins by saying that virtual currencies such as bitcoins are treated as property for U.S. federal tax purposes. Winklevoss Bitcoin Trust In the ETF space, the ruling should have littleif anyimpact on the Winklevoss Bitcoin Trust (COIN) , which is currently in registration. COIN, if approved, could be the first bitcoin ETF in the market. The ARK Web x.0 ETF (ARKW | D-30) has an allocation to bitcoins , but its an Internet equity fund. According to the prospectus filed with the Securities and Exchange Commission, COIN is designed under the assumption that bitcoin is a digital commodity, much like the SPDR Gold Trust (GLD | A-100) is a physical commodity trust that owns gold, or the smaller Merk Gold ETF (OUNZ | B-100) , which owns physical gold and allows individual investors of any size to redeem shares for actual assets. Story continues The trust [COIN] is expected from time to time to issue baskets in exchange for deposits of bitcoins and to distribute bitcoins in connection with redemptions of baskets, according to the prospectus. Contact Cinthia Murphy at cmurphy@etf.com . Recommended stories Gold Vs Platinum: ETF Prices Diverge ETFs To Consider As US Oil Output Tumbles Bitcoins Officially Deemed A Commodity How An ETF Can Drop 100% In A Day Bitcoins In This ETF Not What It Seems Permalink | © Copyright 2015 ETF.com. All rights reserved || Bitcoin Focused HashingSpace Corporation Announces New Ticker Symbol "HSHS", Files 8-K, and Completes Reverse Merger: US based HashingSpace Corporation (HSHS) is pleased to announce it has completed a reverse merger, and a ticker change from the old ticker MLSOD to HSHS. HashingSpace provides a wide range of services to the Bitcoin and blockchain communities including hosted ASIC mining and Bitcoin ATM's
WENATCHEE, WA / ACCESSWIRE / July 27, 2015 /HashingSpace Corporation (HSHS), a Bitcoin ASIC mining and hosting company, announced today that it has completed a reverse merger transaction with Milestone International Corporation. HashingSpace completed its 8-K filing with the United States Securities and Exchange Commission. HashingSpace will be traded on the OTC Markets with the symbol HSHS. The reverse merger was completed on July 10, 2015.
HashingSpace Corporation merged with Milestone International Corporation as part of a reverse merger agreement for 120,000,000 shares of common stock, and 600,000 shares of Series A Preferred Stock.
US based HashingSpace Corporation's new ticker symbol (HSHS) reflects the company's growth strategy and brings value to our shareholders. HashingSpace provides hosted Bitcoin ASIC mining, Bitcoin cloud mining solutions, and Bitcoin ATM's, among other essential services, to the Bitcoin ecosystem.
"This transaction enables HashingSpace to fully capitalize on our fast growth as a Bitcoin and blockchain services and hosting operation. The merger we completed helps our company position itself as a leader in the Bitcoin/blockchain services revolution," shared Timothy Roberts, Chief Executive Officer of HashingSpace Corporation. "This is another major step in the implementation of our business plan to become a major provider of crypto currency and transactional verification mining solutions."
"We are pleased to receive approval from FINRA on our name and ticker change. We believe this ticker symbol change will foster a stronger and more recognizable brand for the company. The new symbol more accurately reflects who we are as a company. These changes reflect our expectations for future growth of the company and our desire to provide our shareholders with maximum value. It also helps our investors to see our strategic focus and long-term goals to become an industry leader in the Bitcoin services industry. We will continue to offer new Bitcoin innovations as we further build our brand and robust suite of services."
All company information, including stock trading, filings, and market data related to the company, will be reported under the new ticker symbol, HSHS.
HashingSpace Corporation's business will provide a wide range of services to include:
- HASHHOSTING:Servers fully managed and specifically set-up for ASIC MINING- CLOUDHASH:Cloud mining servers that can be rented with full hashing power- HASHMINING:Our own Mining Farm- HASHATM:Owner and operator of Bitcoin ATM machines- HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions- HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid)- HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)- HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines
About HashingSpace Corporation
HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically.
HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information.
HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com.
Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information please visit:http://www.hashingspace.com/
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855 – HASHING (427-4464)
Investor Relations:
Email:ir@hashingspace.com
SOURCE:HashingSpace Corporation || 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. || Buying the dip? Consider these 5 stocks: Amid increased market volatility, investors looking for value should keep their eyes on five stocks trading at a discount, CNBC's "Fast Money" pros said. Microsoft (NASDAQ: MSFT) has traded between $40 and $50 a share over the last year. "I think you probably buy it at $40 and sell it at $50," Dan Nathan said. "There's been a premium built in to Microsoft over the last year since Nadella took over," he said. Nathan noted that there's a lot to be optimistic about, but urged investors to be mindful that it is tied to the turbulent PC market. Tim Seymour said he sees upside potential in the aerospace products manufacture United Technologies (NYSE: UTX) . "Granted China could get worse... but I think these guys are turning the ship after what was a selloff that was even kind of pre-China," he said. But if you really want to know when the China-driven selloff is over, keep an eye on Apple (NASDAQ: AAPL) . Once investors start pilling in on Apple, it means they "fundamentally believe that maybe iPhones are going to surprise," to the upside because everyone has factored in that China, where the iPhone gets most of its profit from, is really hitting a wall, Steve Grasso said. "Maybe they will surprise us. Maybe it's not the watch, maybe it's Apple T.V. as people are suspecting. ... But if the story has fundamentally changed than you just gotta sell Apple and I don't think we're there yet," he added. Brian Kelly is betting on Goldman Sachs (NYSE: GS) to weather the current market storm because "they are gonna be the ones to benefit from this market volatility. "On this list, Goldman Sachs is the way to do it, at least, for the next couple of months," he said. Cisco (NASDAQ: CSCO) is a Dow stock that you buy at a discount, while it's near 52-week lows, Brian Kelly said. "Here is a Dow stock that trades at 10.5 times next year's expected earnings [with a] 3.25 percent dividend yield [and] half that market cap is in cash here," Kelly said, citing the company's recent management changes as additional tailwinds. Story continues Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Dan Nathan Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG. Brian Kelly Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasurys. Steve Grasso Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, OXY, RIG, AMZN, MAT His kids own EFA, EFG, EWJ, IJR, SPY. More From CNBC Top News and Analysis Latest News Video Personal Finance
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $515.42 #bitcoin #btc || LIVE: Profit = $54.41 (1.61 %). BUY B13.79 @ $244.00 (#BTCe). SELL @ $245.87 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || BTCTurk 718.61 TL BTCe 235.058 $ CampBx $ BitStamp 239.24 $ Cavirtex 318.00 $ CEXIO 240.82 $ Bitcoin.de 216.18 € #Bitcoin #btc || Current price: 188.54£ $BTCGBP $btc #bitcoin 2015-07-29 20:00:04 BST || Current price: 198.1€ $BTCEUR $btc #bitcoin 2015-08-24 12:00:07 CEST || Current price: 229.43$ $BTCUSD $btc #bitcoin 2015-09-23 19:00:05 EDT || Gold $1,114.36 | Silver $15.25 | Platinum $991.00 | Bitcoin $266.01 || 【最新ニュース】
Coinfloorが英国でビットコイン仲介市場をローンチ(08/25 12:00)
http://news.bitflyer.jp/news/coinfloor-bitcoin-market/ … #ビットコイン #BitCoin #News || buysellbitco.in #bitcoin price in INR, Buy : 17821.00 INR Sell : 17252.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 18848.00 INR Sell : 18249.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
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Trend: up || Prices: 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73
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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)]
University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers NEW YORK, NY / ACCESSWIRE / January 29, 2016 / Coin Reverse Inc. ( http://www.coinreverse.com ) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC. CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier. CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse. "In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager. Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy. Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer. Story continues All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website: http://www.coinreverse.com . No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy. For more information about us, please visit http://coinreverse.com . Contact Info: Name: Tom Juno Organization: Coin Reverse Inc. Address: 1370 Broadway, 5th Floor Phone: (315) 210-8349 SOURCE: Coin Reverse Inc. || Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet: Watch the video of Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet on MoneyTalksNews.com. If you want a quick glimpse at whos likeliest to be our next president, dont listen to pollsters and pundits. Follow the money. We dont mean the big bucks of super PACs or even the millions from small-money donors. Were talking about real money people who wager on election outcomes. It turns out that the collective wisdom of bettors has a better record of predicting winners than the talking heads. One place that bettors congregate online is the Iowa Electronic Markets , or the IEM, at the University of Iowa. If you look at polls run during the election, in about 75 percent of the cases, Iowas market prices predict the outcome of elections better than the polls, says Joyce Berg, a University of Iowa accounting professor who oversees the IEM. Frederick Boehmke, University of Iowa political science professor and faculty adviser to the Hawkeye Poll, recently explained why to the Quad City Times newspaper . A poll asks a persons preference, what they want to happen, Boehmke said. People investing in the IEM, however, are trying to make money, so they pick the candidate or party they think will win. They typically set aside personal preferences to make money. Also, a poll is a snapshot at a moment in time, Boehmke said. The market is about who will win in the end. The IEM and another exchange, PredictIt , which is set up in Washington, D.C., under the auspices of Victoria University of Wellington, New Zealand, say the predictions work because the wisdom of crowds aggregates the expectations of thousands of bettors who have skin in the game. A now-defunct exchange called Intrade in 2012 predicted the electoral outcome in 49 of the 50 states. People who put up real money are more likely to consider all the available information than people who just offer their opinions, says Money Talks News financial expert Stacy Johnson. Story continues That information could include economic and business conditions, stock market performance, inflation and employment rates as well as other factors that could sway voters moods. Once invested in the outcome, bettors follow campaigns closely. As on a stock exchange and similar to fantasy sports leagues, bettors can make or lose money buying and selling their shares in the outcomes in which they invested. You can get in on the action. How it works In exchanges, bettors actually are traders who buy and sell real-money contracts based on their beliefs about yes or no election outcomes. Unlike a casino sports book, the exchange does not set odds. The prices reflect the probabilities of various candidate winning a given political race. PredictIt explains it this way: You make predictions on future events by buying shares in an outcome, Yes or No. Each outcome has a probability between 1 and 99 percent, which is converted into U.S. cents. For example, Trader A thinks an event has at least a 60 percent chance of taking place so she offers 60 cents for a Yes share. PredictIt matches her offer with that of Trader B, who is willing to pay 40 cents for a No share. Each trader now owns a share in the market for this event on opposite sides.
If an event does take place, all Yes shares are redeemed at $1. Shares in No become worthless. If the event does not take place before the market closes, traders holding shares in No will be paid $1, while Yes shares will be worthless. At the IEM, you can open an account for $5 to $200. If you just want to look, check whos leading the popular bets. Popular bets For the moment, according to the exchanges and other betting venues, the odds-on favorite is Hillary Clinton. That doesnt mean bettors favor Hillarys politics over those of Bernie Sanders, her rival for the Democratic nomination, or Republican front-runner Donald Trump. It just means they bet she wins. The likelihood of a Trump presidency, according to bettors, is less than 20 percent. Both the IEM and PredictIt offer markets in who will be the GOP and Democratic presidential nominees. IEM has a market in which party will win the 2016 election as well as one in which you can bet on how the parties will share the popular vote. As of March 11, it was Democrats, about 55 percent, leading Republicans, 45 percent. The IEM also has a market on who will control Congress (Republican House, Democratic Senate is leading). PredictIt also has bets on upcoming party primaries, including Ohio (Kasich beating Trump, Clinton beating Sanders) and Illinois (Trump trouncing Cruz, Clinton trouncing Sanders) as well as topics such as whether the GOP will have a brokered convention (No is beating Yes) and will Marco Rubio drop out by March 18 (Yes is beating No). More sites at which to garner predictions Election Betting Odds : Run by Fox Business reporter John Stossel and his producer, Maxim Lott, Election Betting Odds features odds derived from an exchange, Betfair.com , which does not accept American traders due to regulations. It recently showed Clinton with a 64 percent probability of winning the White House and Trump with a 19 percent chance. FiveThirtyEight : This site is run by Nate Silver, known for calling the results in 49 out of 50 states in 2008 and all 50 states in 2012, FiveThirtyEight is predicting outcomes from primaries and caucuses based on data from polls and endorsements. PredictWise: Run by David Rothschild, an economist at Microsoft Research in New York City, PredictWise aggregates data on politics as well as sports, finance and entertainment. The site says it is does not favor gambling. It does indicate the Democratic nominee has a 69 percent chance of winning the White House compared with the Republican candidates 31 percent chance of winning. It also predicts Clinton will be the Democratic nominee by a better than 9-1 ratio over Sanders, and that Trump has a 76 percent probability of winning the GOP nomination. Pinnacle Sports : At the Curacao-licensed online betting site, Clinton has the best odds. Paddy Power : An online gambling site that mainly features sports, Paddy Power takes bets (not from the United States) on U.S. politics , too. It has Clinton as favored to win; Trump has the second-best odds. Predictious : Established after the demise of Intrade, Ireland-based Predictious exchange allows you to buy and sell contracts using Bitcoins, the virtual currency. Despite all these predictions, they could be dead wrong, Johnson points out. Ahead of the March 1 Super Tuesday elections, PredictIt bettors and PredictWise said Trump would win 10 of 11 states and would lose only to Ted Cruz in Cruzs home state, Texas. Cruz did win in Texas, but he also took Oklahoma and Alaska while Rubio won Minnesota; Trump won in seven states: Alabama, Arkansas, Georgia, Massachusetts, Tennessee, Vermont and Virginia. So, while you might want to get a handle on the odds for your favorite candidate and bettors can help in the voting booth, you need to weigh that with your political convictions. You need to do your own research, pick your own candidate and then back that candidate with your vote, no matter what gamblers, polls or pundits say, he said. If you were betting on the election, where would you put your money? Does that pick line up with your politics? Share with us in comments below or on our Facebook page . This article was originally published on MoneyTalksNews.com as 'Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet' . More from Money Talks News A Way to Master Income Taxes at Last and Save Money 7 Ways Donald Trump is Destroying His Brand and 4 Ways Hes Improving It Could These 12 Weird Tax Deductions Save You Money? || Flux Party seeks to be the bitcoin of Australian politics: By Matt Siegel SYDNEY (Reuters) - A new Australian political party is using the virtual currency bitcoin as a model to replace what they say is an outdated political system - representative democracy - with a streamlined new polity for the information age. The Flux Party says its goal is to elect six senators. They will propose no policies and will not follow their consciences, but will support or block legislation at the direction of their members, who can swap or trade their votes on every bill online. "If they didn't have to be senators, if they could just be software or robots they would be, because their only purpose is to do what the people want them to do," Flux Party co-founder Max Kaye told Reuters in an interview. Australia is set to hold an election in September or October after a period of turmoil that brought five prime ministers in as many years. At the same time the upper house, which thanks to the quirks of its electoral system has a history of returning mavericks and fringe party candidates, has been hopelessly deadlocked by a handful of senators, at least one elected on less than 1 percent of the vote. Prime Minister Malcolm Turnbull last week raised the possibility of calling an early poll to break the gridlock that has held up the government's legislative agenda. That type of policy inertia is what bitcoin enthusiasts Kaye and Flux co-founder Nathan Spataro say inspired them to explore alternative systems that better represent the world of 2016. Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. The technology behind it is called the blockchain - a massive electronic ledger of every transaction that is verified and shared by a global network of computers. To Spataro and Kaye, bitcoin is not just an alternative financial system: it is the missing link between representative democracy and Democracy 2.0. "This ancient system we've got of representative democracy, which at the time liberated us from monarchies and was awesome, now we're at a point where it's become this monster," Spataro said. Story continues "We're in a society now that's got the Internet and when democracy in its current form was conceived, you had to sail on a ship from England to get here. This model wasn't designed for this world." "DELIGHTFULLY NAIVE" Bitcoin's strength comes from its ability to build trust through ease of verification and by removing human frailty from the equation, said Dr. Adrian Lee, an expert on bitcoin at the University of Technology Sydney. That makes what the Flux Party is proposing both unique and also potentially fraught. "I haven't seen a party which would vote via blockchain," Lee said. "If you removed the politician and made it just a bitcoin machine, then maybe it would work but you can't do that," he said, noting the absence of a legally binding mechanism to make Flux senators vote as directed. Although the party's architecture for calculating and distributing voters' wishes to their elected officials uses highly complex computer code, the overall idea is fairly simple. Flux members and single-issue campaigners that agree to support the party at the election are allotted bitcoin-like tokens that they can use themselves, trade or give to experts or interest groups they trust to vote as their proxy. Outcomes are distributed proportionately, so if 80 percent vote in favor of a bill and 20 against, five Flux senators vote yea and one nay. Ministers are not often experts in their portfolio, and yet they are charged with making critical decisions on issues such as environmental or fiscal policy. Under their system, the Flux Party founders say, large blocs of voters could effectively grant their vote on such issues to a scientist or economist. "You get sick, you go to the doctor, right? You don't self-diagnose and you don't go and call your plumber," Kaye said. The Party filed its registration papers with the Australian Election Commission last month after obtaining the requisite support of at least 550 registered voters. Its website currently puts its membership at 1,009 people. Attempting to apply the transformative power of the Internet to democratic systems is not a new one, said Peter Chen, a senior lecturer in politics at the University of Sydney, who called the Flux Party "delightfully naive people". "They're just the modern version of something that's always been around: utopian political system designers," he said. "They're obviously guys who are really focused on the tech thing and that has always been the problem with the e-democracy people. They're often really tech-driven and they need political scientists at the brainstorming floor to say 'well, I don't know if that'd work'." (Reporting by Matt Siegel; Editing by Alex Richardson) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn
(Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said.
Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals.
But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions.
“It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks.
Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs.
The victims included a transportation company and a technology firm that had 30 percent of its machines captured.
Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December.
Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters.
The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly.
The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions.
Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement.
Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware.
It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013.
The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments.
Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities.
PAYMENT IN BITCOIN
Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats.
In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks.
Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay.
Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams.
The involvement of more sophisticated hackers also promises to intensify the threat.
InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT.
“The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said.
(Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Bitcoin group scores funds from biggest names in industry: Bitcoin-related businesses raised more venture capital money in 2015 than in any year before: $485 million, according to industry news siteCoinDesk. And yet, even as they court more VC interest, these companies continue to deal with skepticism from the general public and from top executives of big financial institutions, likeJamie Dimonof JPMorgan (JPM).
So they're turning to a non-profit advocacy group for help.
Coin Center, a 501(c)(4) lobbying group founded in 2014, calls itself the "leading non-profit research and advocacy center" for public policy on "cryptocurrency technologies such as Bitcoin." Its supporters already included well-known venture firm, Andreessen Horowitz (Marc Andreessen is a vocal bitcoin believer), and some of the biggest companies in the industry, including Chain, Coinbase, and Xapo. Now Coin Center is about to get a lot louder: This month it has raised $1 million in new donations, Yahoo Finance has learned.
In an industry where the hottest companies have had recent fundraising rounds of $116 million (21 Inc.), $50 million (Circle) and $30 million (Chain), $1 million may sound like small potatoes—and it is, although Coin Center says it will help fund travel for its five staff members, who spend much of their time meeting with lawmakers to discuss policy.
But as some big banks have joined a consortium to explore the possibilities of the blockchain (the public, open ledger on which all bitcoin transactions are logged), what is significant here is that Coin Center's extensive list of new supporters includes some of the most powerful people in the exploding fintech sector. Among those who donated are 21 Inc. (which last year released a small bitcoin-mining computer aimed at making it easier to develop bitcoin apps), BitStamp, Overstock.com (OSTK), which was one of the first major online retailers to accept bitcoin as payment, and Digital Currency Group.
That last firm is key: Led by SecondMarket founder Barry Silbert, DCG has invested in 65 different bitcoin companies, and the companies in its portfolio have raised 70% of all the venture capital in the space. DCG is to the bitcoin industry what Anheuser-Busch InBev (BUD) is to the beer market, or what IAC (IAC) has been to online-dating companies.
"Our mission is to accelerate the development of a better financial system," Silbert tells Yahoo Finance, "and the way we will do that is investing in great companies, starting companies, buying companies, and helping organizations like Coin Center." In other words: Silbert wants to have his hands in as many digital-currency entities as possible to ensure his influence, and he is quickly carrying out that strategy. It's why DCGbought outrightthe industry's leading news site, CoinDesk."There are many ways lawmakerscould stifle the bitcoin blockchain," Silbert says, "so providing awareness and education is a very important part of what will make this industry sustainable."
In short: Coin Center is getting more influential, and now it has people backing it who have deep pockets and major interest in keeping regulators from interfering too much in what bitcoin companies are doing. Coin Center is not a trade association—none of the companies in the bitcoin industry are members. But it certainly shares their interests.
Jerry Brito, Coin Center's executive director, isa law professor who has testified before Congress about cryptocurrencies. Hesays Coin Center's primary audience is policy-makers—and these people can often be confused about the industry. The fear of bitcoin businesses is that politicians will hastily regulate, or even shut down startups, before they understand the technology. (The tension is not unlike the battle raging in daily fantasy sports right now.) Coin Center can help, Brito says: "Policy makers hear about these negative aspects, whether it’s ransoms, or drug sales, or the like, and they will often contact law enforcement and say, 'What's up with this?' This is a challenge just like all new technologies have been, from email to pagers, butwe think that we can get a handle on this."
To that end,Coin Center teamed with the Chamber of Digital Commerce in October to help create The Blockchain Alliance, a safe-space private forum in which law enforcement groups like the FBI and the U.S. Department of Justice can pose questions to bitcoin startup executives and policy pundits. Think of the alliance like a Justice League for bitcoin. But it is unclear how frequently the forum is being used, since the media isn't allowed in.
Last year, New York became the first state to release its own regulatory framework specifically devoted to digital currency businesses. Called the BitLicense, it was met with so much opposition from the bitcoin community that a slew of companies packed up and left New York, cutting off service to customers in the state. Other companies happily applied for a license, but bemoaned the high cost.
Coin Center makes its stance on legislation clear. "If you look back, [former New York Department of Financial Services superintent]Ben Lawsky said he didn't want to interfere with innovation or hurt business. Ultimately, the BitLicense that we got did not succeed at that. It is not a good model for other states to follow," he says. "I think the only solution is a light touch approach. If you go heavy-handed, as a regulator, you’ll do two things: not meet your goals, typically, becasuse you’ll make it so difficult that people can’t even comply with it, and not get the visibility that you want as a regulator." Those in the bitcoin business, of course, like that argument quite a lot.
Marc Andreessen has been Coin Center's biggest donor since the beginning, giving the lion's share of help. But with Silbert flexing his muscle, Coin Center's role in advocating for digital currency will strengthen. (Brito says donors "can give input," but not dictate what Coin Center does.)
Coin Center has received $2 million in donations to date, and it now plans to seek $1 million every year. It won't have much trouble getting it.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Fantex, the 'athlete stock exchange,' signs first golfer || Digatrade Executes Joint-Venture with BitCarats: Exclusive Digital Asset Development & Exchange Listing Agreement VANCOUVER, BC / ACCESSWIRE / February 10, 2016 / BITX FINANCIAL CORP ( BITXF ) and its 100% owned and operated digital asset-currency exchange DIGATRADE(TM) ( digatrade.com ) today announced the execution of an exclusive asset-backed digital currency development and platform exchange listing agreement with BitCarats Capital Inc. Under terms of the agreement Digatrade, along with BitCarats Capital, will develop Caratscoin, the world's first diamond-backed digital-asset powered by blockchain. Caratscoin will be the first asset-backed digital currency listed on the trading platform, an innovation that will include additional asset-backed crypto-currencies in the future," stated Brad Moynes, CEO of Digatrade. In collaboration with BitCarats Capital and financial technology partners (ANX Technologies), Caratscoin will be powered by secure blockchain technology - the world's first paired with Bitcoin as well as direct purchase via Digatrade multi-fiat currency order-book including US dollars and Euros via Visa & MasterCard, along with eCheck and Interac within Canada. A fully integrated, custom multi-signature Caratscoin digital wallet will be developed as a comprehensive solution, not only creating the Caratscoin, but adding value through features such as industry leading security architecture and encryption algorithms. Caratscoin owners issue the coin only if all authorized parties are present, the first to use this unique service which is unprecedented in the market. This system is most secure, as no one person has the only authority to issue the coin, considering the Caratscoin is designed to significantly increase in value in direct correlation to the appreciation in value of physical diamonds held in the company vault. BitCarats Capital CEO & Founder Colin Ferguson stated, "Carats Diamond Investment, which will provide the distinctive collection of diamonds to back BitCarats, has more than 30 years' experience in the diamond business and is the nation's first direct distributor from the world famous Argyle Diamond Mine in Western Australia. We house the country's leading collection of Natural Fancy Coloured diamonds, featuring trending colours such as red, vivid blues and champagnes." Ferguson continued, "Caratscoin will not only provide a new virtual asset-class and store of value, but also offer our investors instant payment, prepaid debit cards and the ability to transfer an asset between end users instantly, at a low cost and on a decentralized network." Caratscoin will be backed by a pool of certified, Natural Fancy Coloured diamonds, primarily featuring red, vivid blue, and champagne colours. Each diamond is certified by the Geological Institute of America, the world's leading diamond educational resource, and home to the most advanced laboratories. The diamonds are insured by Lloyd's of London and stored at a private vault at The World Trade Center, 999 Canada Place, one of the most secure buildings in Vancouver, Canada. Founded and led by BitCarats CEO Colin Ferguson, Carats Diamond Investment (carats.com) is committed to exceptional diamond education, quality and customer service, and was recently recognized by the Better Business Bureau (BBB) when Carats was awarded with their highest rating of A+ since joining the BBB 16 years ago. Story continues More information regarding this exciting new venture will be made available as it materializes. ABOUT DIGATRADE: DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide. CORPORATE CONTACT INFORMATION: Brad Moynes, CEO Bit-X Financial Corp DigaTrade.com 838 West Hastings Street, Suite 300 Vancouver, BC V6C-0A6 Canada Tel: +1(604) 200-0071 Fax: +1(604) 200-0072 www.digatrade.com Media inquiries: press@digatrade.com Forward-Looking Information This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. SOURCE: Bit-X Financial Corp || University of California Berkeley notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Your first trade for Thursday: The "Fast Money" traders gave their final trades of the day.
Tim Seymour is a seller ofiShares MSCI Emerging Markets (EEM)
Brian Kelly is a seller ofEnergy Select Sector SPDR ETF(XLE)
Karen Finerman is a seller of Priceline (PCLN)
Guy Adami is a buyer of NetApp (NTAP)
Trader disclosure: On February 17 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:Tim is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
BRIAN KELLY:Brian is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, Euro, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
KAREN FINERMAN:Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International.
GUY ADAMI:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $382.64@bitstamp. High $396.12. Low $376.00. Market Cap $ 5.792 Billion #bitcoin pic.twitter.com/5JF1vbjI3d || LIVE: Profit = $90.54 (6.07 %). BUY B3.90 @ $400.00 (#VirCurex). SELL @ $403.09 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || #Bitcoin ― Why Some Changes to Bitcoin Require Consensus: Bitcoin's 4 Layers http://dlvr.it/Kd0zn5 via → http://goo.gl/nnFPIZ || Together we change the world with MMM Global! #MMMExtra #Bitcoin http://WWW.MMMGlobal.BZ https://twitter.com/MMMGlobal/status/703279327245377536 … || $370.80 at 16:00 UTC [24h Range: $367.17 - $375.00 Volume: 5961 BTC] via #btcusdpic.twitter.com/rQK0t6SsD4 || NBT/BTC ฿0.00230827 Vol:11197.12775289 | Bittrex:฿0.00231042 | Bter:฿0.00231400 | Hitbtc:฿0.00228900 | Poloniex:฿0.00230811 || I just bought my first bitcoin on Coinbase - try it! https://www.coinbase.com/join/55ccba12caa7677030000302?src=twitter … || Liquid Bitcoin || Why A Hedge Fund Manager Who Made A Killing From Subprime Is Buying Bitcoin http://ow.ly/3bOJwR || $ 0.008661 0.00002000 BTC #WHIPPED #FETISH #BDSM
|
Trend: no change || Prices: 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-07-18]
BTC Price: 2318.88, BTC RSI: 47.05
Gold Price: 1241.10, Gold RSI: 52.99
Oil Price: 46.40, Oil RSI: 54.40
[Random Sample of News (last 60 days)]
Revisiting An Overlooked Precious Metals ETF: The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions. Among exchange-traded products, the ETFS Gold Trust (NYSE: SGOL ) is up 9.4 percent year to date while the ETFS Physical Palladium Shares (NYSE: PALL ) is up a stunning 26.9 percent. Sturdy precious metals prices are helping the ETFS Precious Metals Baskets Trust (NYSE: GLTR ) to a year-to-date gain of more than 8 percent. All That Glitters ... GLTR holds a basket of physical gold, silver, palladium and platinum. “Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified 'Precious Metal' ETPs that generally appeal to those investors and portfolio managers whom prefer 'basket' exposure to the space as opposed to betting on specifically Gold or Silver for example,” said Street One Financial Vice President Paul Weisbruch in a note out Wednesday. Pondering Palladium Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge. “The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you’ve got this speculative squeeze,” Mitsubishi analyst Jonathan Butler said, reported Reuters . Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR. “Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,” according to Reuters. Macro Trends, Influences While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends. As Benzinga reported earlier this year , “Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.” Story continues Related Links: Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen' Is Bitcoin The New Gold? Still Too Early To Say See more from Benzinga Cybersecurity ETF Has A Treat For Investors: Lower Annual Fees A Steadier Course For China ETFs The Good And The Bad Of Oil ETFs © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Wednesday, May 24: The "Fast Money" traders shared their first moves for the early hours of the trading day.
Pete Najarian was a buyer of Goldman Sachs(NYSE: GS).
Brian Kelly was a buyer of the SPDR S&P Regional Banking ETF(NYSE Arca: KRE).
Steve Grasso was a buyer of KB Home(NYSE: KBH).
Guy Adami was a buyer of Xilinx(NASDAQ: XLNX).
Trader disclosure: On May 23, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BK is long Bitcoin, Ethereum, GE, HLF, IWM, TSLA, WMT. Pete Najarian owns calls BAC, BUD, C, CHK, CPN, CRM, DAL, EOG, FEYE, GS, KMI, MDLZ, NBL, NBR, ORCL, RF, TECK, UNP, WFM, WFT, WLL, XLE. Pete is long stock AAP, AAPL, BAC, CL, DIS, DLTR, EMR, FSLR, GILD, GIS, GM, GS, IBM, JWN, K, KMX, KO, KORS, MRK, MSFT, PFE, RL, STX, TPX, UNP, WDC, WFT. Steve Grasso's firm is long stock AON, BX, CTL, CUBA, DIA, F, HES, ICE, KDUS, KORS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TIME, TITXF, UA, VEON, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, JCP, KBH, LEN, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Your first trade for Thursday, May 18 || 'It's a nightmare' - DLA Piper ransomware attack sounds cybersecurity alarm 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.
Buttoday's ransomware attack on DLA Pipersounded a different type of alarm for big law firms. 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 key documents on a court deadline. Transactional lawyers unable to communicate with clients attempting to close multibillion-pound 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. It's a nightmare, there's no doubt about it.
Phone lines at DLA Piper were down on Tuesday (27 June) across Europe and the US. According to aphoto tweeted by Politico reporter Eric Geller(above right), DLA Piper employees in Washington DC 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 impacted a large number of organisations across the globe, includingpharmaceutical giant Merck.
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 organisation's files.
While security experts scramble to determine the extent of the encryption or any other damage levied by the newest batch of ransomware,at least 27 organisations 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% of those attempts were successful. What's more, the 40% 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 system's 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% 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% of firms reported undergoing a cyber audit from a client, and LogicForce expects that number to grow to 65% 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. || Here’s how self-driving cars could help the American economy explode with new jobs: Venture capitalist Marc Andreessen says we've got this whole artificial intelligence thing all wrong. In fact, the fear of the machines taking over has been a familiar one throughout history. "This is the panic every 25 to 50 years," Andreessen said Tuesday evening at Recode's annual Code Conference in Rancho Palos Verdes, California. "It never comes true." Andreessen, who developed the Netscape web browser and is the co-founder of VC firm Andreessen Horowitz, likens today's obsession with robots displacing people to the automobile 100 years ago and the fear that a new form of transportation would replace human labor. Instead, the auto industry turned into one of the nation's biggest employers and spawned a whole new market for people like street pavers. The self-driving car , Andreessen said, will not only save lives but increase productivity in ways that perhaps we're not even considering. The real problem in the labor market isn't an oversupply of people, but "we don't have enough workers" to fill the existing jobs. That situation could get a whole lot worse if "immigration policies continue," he said. As with any emerging trend in technology, Silicon Valley is throwing excessive amounts of money at artificial intelligence. Venture investors are funding robots of every shape and size, creating "one of the biggest booms I've ever seen," Andreessen said. And like with the early days of the internet and mobile, there will be a ton of losers, but a few big transformative winners. "Of course we're going to overdo it," he said. "Out of that will come defining companies of the era." Andreessen, who coined the phrase "software is eating the world," is also investing in industries that have yet to experience the types of efficiencies that technology is supposed to create. The three markets of healthcare, education and construction account for 88 percent of all price inflation and are threatening to "eat the economy," he said. Andreessen said he's investing in companies that are trying to drive down costs in those areas. He highlighted Udacity, a developer of online classes, and said his firm is going "very aggressive" in health care. More From CNBC Amazon is 'awfully scary,' says Netflix CEO Reed Hastings Analyst: 2 tech stocks could reach $1 trillion, and Apple isn't one of them Bitcoin could hit $100,000 in 10 years, says the analyst who called $2,000 price || Bitcoin storms back: Bitcoinhas come all the way back from Thursday's steep slide. The cryptocurrency tumbled as much as 18.5% to $2,076 a coin after riskier assets fell following the Fed rate hike. On Friday, it's trading up 3.5% at $2,520.
The selling on Thursday began when bitcoin-mining firm Bitmain outlined its "contingency plan."Coindeskexplained it best: "Most notably, the proposal would dedicate mining resources to hard forking the network to a rule set with a larger block size — an upgrade that would likely result in two bitcoin networks and two tradable bitcoin assets."
Riskier assets were already feeling some heat after the Federal Reserve raised its benchmark interest rate 25 basis points to a range of 1% to 1.25% on Wednesday.
The writing had been on the wall. Bitcoin gained about 180% from the beginning of April through the middle of June. That run prompted tech billionaire Mark Cuban to call bitcoin a "bubble."
Additionally,Goldman Sachshead of technical strategy Sheba Jafari also sounded the alarm on bitcoin in a note to clients sent earlier this week, saying that "the balance of signals are looking broadly heavy."
At least for now, it appears that Jafari nailed her call. "Consider re-establishing bullish exposure between 2,330 and no lower than 1,915," she concluded in this week's note.
(Investing.com)
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• Bitcoin nearly hits $3,000 before plunging || Here's why Ford is panicking in self-driving cars: Alphabet is years ahead of everybody: The recent CEO shuffle at Ford (NYSE: F ) suggests it's getting serious about self-driving cars: On Monday, it promoted its head of "Smart Mobility," Jim Hackett, to the CEO role. But statistics show that Ford -- and every other car maker -- is way behind Waymo, the self-driving car unit of Google parent Alphabet ( GOOGL ) , when it comes to testing autonomous cars on real roads. In the year that ended on Nov. 30, 60 Waymo cars drove more than 635,000 miles in autonomous mode on public roads in California. Ford's cars -- a pair of Fusion hybrid sedans -- went just 590 miles, according to documents on file with the California Department of Motor Vehicles. But what's even more significant is how much farther Waymo cars can go before a human driver has to take over. For Waymo, one of these so-called disengagements happened, on average, every 5,127 miles. The Ford cars went 196 miles before a disengagement. Ford might have better numbers to show as it drives more miles, but for now the Waymo cars do appear to be more stable. These statistics are admittedly six months out of date -- the companies haven't reported since then -- and Ford is also testing self-driving cars in Michigan. But the fact that Waymo has driven more than 1,000 times as many self-driving miles in California is an indication of how long Alphabet (and previously Google) have been seriously tackling the problem. The other car makers are similarly behind. Here's a snapshot of the data from the documents: Waymo: 635,867 miles driven, 5,127 miles/disengagement GM/Cruise: 9,668 miles driven, 34 miles/disengagement Nissan: 4,099 miles driven, 28 miles/disengagement Bosch: 983 miles driven, 0.6 miles/disengagement Mercedes: 673 miles driven, 2 miles/disengagement BMW: 638 miles driven, 638 miles/disengagement Ford: 590 miles driven, 196 miles/disengagement Tesla: 550 miles driven, 3 miles/disengagement Small wonder financial analysts are excited about the Alphabet opportunity. On Tuesday Morgan Stanley issued a note suggesting that Waymo could be worth more than $70 billion by 2030 . The number of miles driven represents a key factor in the analysts' calculation of that figure. Story continues Last week alternative cab service Lyft -- which has its own self-driving car fleet -- said it would work with Waymo on autonomous driving. That deal will surely benefit Waymo. As a spokesperson told the New York Times , it will "help Waymo's self-driving technology reach more people, in more places." Given that Ford is so far back in Waymo's rear-view mirror, Ford might well move to sign similar deals with partners in an effort to gain more autonomous driving experience. It could also push many more cars onto public roads. The company has given itself some time to improve. Last year Ford said it aimed to have an autonomous vehicle available for ride sharing by 2021. Watch: Full interview with Bill Ford on the change at the top More From CNBC Bitcoin may have doubled this year, but rival Ethereum is up 2,000%. Here's why Start-up training experts to help people figure out what genetic tests mean Silicon Valley VCs are tripping over themselves to hire biotech experts || SEC Reviews Bitcoin ETF: The Skyrocketing Cryptocurrency Explained: There has been a lot of interest in bitcoin of late, mainly due to its astronomical rise. The cryptocurrency is up more than 135% year to date. Looking at the longer-term performance, $100 invested in bitcoin 7 years ago would be worth about $75 million now, per CNBC. Bitcoin was also in focus because the hackers responsible for the massive WannaCry cyber-attack wanted ransom to be paid in bitcoin and they were able to get some payments. Investors have been hoping that the SEC would approve a bitcoin ETF, which would add legitimacy to the digital currency and also provide investors a convenient way of investing in the digital currency. What is Bitcoin? Unlike traditional currencies, which are issued by central banks, bitcoin is a decentralized digital currency not issued by a central bank. It is more like a peer-to-peer digital payment network. Creation and transactions in bitcoin are controlled through cryptography. And, while users remain anonymous, the record of these transactions is available on the bitcoin network. Why is Bitcoin Surging? Bitcoin is up almost 400% over the past one year.The main reason behind the surge is its limited supply, According to the Economist, there are about 16.3 million bitcoins, with only 1,800 new ones minted every day. On the other hand, demand has been rising due to geopolitical uncertainty. Many consider bitcoin a safe have asset. Due to its low correlation with other asset classes, it also acts as a portfolio diversifier. In April, Japanese regulators announced rules for bitcoin, establishing it as a legitimate method of payment in the country. It is difficult to arrive at a fair value for the bitcoin. I read about a model in FTthat is based on the presumption that bitcoin’s core utility value is serving as a currency for the dark economy. The model found the cryptocurrency to be grossly overvalued. What Are the Risks? Bitcoin and other cryptocurrencies are not regulated or backed by a central bank. Story continues The cryptocurrency is very volatile and usually goes through boom-bust cycles. Just last Thursday, it dropped by almost 19% from its all time high level. Due to users’ anonymity, it is used by criminals and in dark economy for illegal payment transfers and for purchase of illegal drugs. There have also been many instances of hackers stealing bitcoins Bitcoin ETFs In March, the SEC had rejected the ETF proposed by Winklevoss twins but they are now reviewing the decision again. This was not the only bitcoin ETF; there were two more going through the regulatory approval process. Another bitcoin ETF, proposed by SolidX Management, was also rejected in March. The third one proposed by Grayscale’s Bitcoin Investment Trust (GBTC) is being reviewed and a decision is due by Sep 22. Will You Make a Fortune on the Shift to Electric Cars? Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think. See This Ticker Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR-GOLD TRUST (GLD): ETF Research Reports ISHARS-GOLD TR (IAU): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || MORGAN STANLEY: Bitcoin isn't a currency: Bitcoin may have appreciated 300% in the last 12 months, but Morgan Stanley still isn't convinced the cryptocurrency will be a viable currency in the long run.
In new research published this week, analysts at the bank say that bitcoin (and its counterparts like ethereum) are still more like investment vehicles than fiat currency that you could spend on goods and services. In addition, it said there are few reasons to use bitcoin instead of a debit or credit card, as it represents a "marginally more inconvenient way to pay."
Here's Morgan Stanley:
Most regulators and investors view cryptocurrencies more as assets than actual currencies. Their values are too volatile and too hard to actually use for payment for most to consider them currencies. Our conversations with some merchants indicate that, while cryptocurrencies might actually be attractive for them to operate their businesses, they find that the cryptocurrencies are far too volatile to be used.
(The price of bitcoin has exploded in the past year.Markets Insider)
The huge rise in the price of bitcoin is perplexing to the bank, which says other factors should have brought bitcoin's value down. These include the SEC's rejection ofa bitcoin ETFproposed by the Winklevoss twins,declining trading volumes, and aChinese crackdownon bitcoin miners, without which "transaction time for Bitcoin could increase substantially," says Morgan Stanley.
"It is not clear why cryptocurrencies are appreciating so rapidly (apart from the appreciation itself drawing in more speculation against a potentially inefficient ability to sell)," the bank said in a note.
Still, Morgan Stanley has some guesses as to why bitcoin has seen such a catastrophic rise:
1. ICO's, or Initial Coin Offerings: Instead of traditional public offerings or funding rounds, a handful of companies have begun offering investors digital tokens in exchange for cash. In on high-profile case, a tech startup called Aragonraised $12.5 millionin less than 15 minutes in its ICO.
2. China: There are strict limits on currency outflows in the country, and Morgan Stanley assumes many people are using cryptocurrencies as a way to bypass the limits.
3. Korea and Japan: Bitcoin was just legalized by the Japanese government, so it makes sense that it would be gaining popularity in the country. "In Korea, however, there is not a clear explanation for the surge," the bank writes.
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Tanium announced on Thursday that it will allow employees to cash out of $50 million worth of their stock to a suite of investors. The deal is part of a $100 million fund raising round. Tanium will use the money to buy employee shares. David Hindawi will also be cashing out $50 million dollars worth of stock in the deal, selling to the same group of investors. Business Insider caught up with Tanium cofounder CEO Orion Hindawi to discuss the deal, as well as the scathing exposé by Bloomberg that characterized the security startup as a stressful place to work, and Hindawi as a brutish leader. Hindawi talked openly with us about the culture of his company, the stock sale, the iron-clad hold over ownership he and his father have on the company, and the controversial accusations over why he was firing people. Tight grip Tanium is the second startup founded by this father-and-son team. The father-and-son team had worked for about 18 years at the previous company David Hindawi founded, BigFix, which sold to IBM in 2010 for a reported $400 million. While the deal is good for employees, investors are buying existing common stock, not preferred, so it does not change the founders' ironclad grip on the company, Hindawi tells us. Story continues "We want to let employees buy the houses, cars or whatever they've been dreaming about and not feel quite as much pressure on the IPO as we otherwise might," he said, adding that he still fully intends to take the company public at some point. Tanium has allowed employees to cash out of their stock in secondary sales before. They were, for instance, able to sell shares in March, 2015, as part of an overall $64 million investment into the firm that did include the company selling equity to investors , the company tells us. This round values the company at $3.75 billion. That's a slight increase from 2015, which was the last time the company offered a new stake to investors. Then, Tanium was valued at $3.71 billion, according to PitchBook, a database that tracks such info. It is one of most highly-valued security startups in the industry. Tanium has raised about $307 million total, not including this $100 million secondary offering. A-list VC Andreessen Horowitz put Tanium on the map in 2014 when it put $90 million into the company and another $52 million as part of a $120 million round in 2015, led by TPG Capital, T. Rowe Price and Institutional Venture Partners. Andreessen Horowitz's big stake was done at the urging of one of its advisers, former Microsoft executive Steven Sinofsky, who called Tanium's technology "magic." But the company didn't sell any equity to raise any operating funds for itself. Hindawi, the son, also said he's not cashing out any of his shares, nor is he buying more shares. "I own 25% of the company and I think that's more than enough for me. Between David and me, we are still above 50% of the company," he said. He refers to his dad by his first name at the office. On top of that, the company uses a "multi-class structure," for shares he said. That refers to dividing shares up into those that have more voting rights than others. It's an increasingly common move for startups, and sometimes even public tech companies (like Alphabet). This allows founders to retain control of the company, even if they don't control a majority of shares. Tanium CEO David Hindawi (Tanium's David HindawiTanium) And he's unabashed that he's locked down control away from investors, very much on purpose, thanks to lessons earned from their earlier startup. "One of the things that drove us to found this company was that at BigFix, our last company, we had a real challenge corralling the investors to do anything actually. They had the majority of the company so a lot of it was really difficult, frankly, Hindawi said. With control of Tanium firmly in the family, he says making decisions is far easier. Yes, I've fired people Hindawi just faced a slew of bad press when he was accused of firing people immediately before their options vested, according to that story by Bloomberg. The implication was that if too much stock wound up in the hands of employees, his controlling stake and authoritative power over the company would be diminished. Hindawi admitted he's fired people, but denied he was motivated by their stock options. He calls that accusation " very obviously, provably not true," he said and says that he had all sorts of reasons why there have been " a lot of people who left Tanium, not of their own volition." He said some people were asked to leave because they were hired when the company was smaller but as it grew to 550 employees, "they were not the right people for their roles." He said in other cases executives had "health issues" and "could not do the job anymore" and characterizes the way they left the company as "respectful." He says others were fired for "ethics issues." At the same time, he can understand why former employees might have lashed out. "When you've got executives or people that leave a company, sometimes they don't like it," he said. "Sometimes they don't think they were fairly treated. "They may be right in some cases," he added. "We could have done some things differently." As for accusations that he has mocked people or insulted them. "Very obviously I don't agree with the description," he told us. On the other hand, he also fully admits that the company's culture is rather hard-edged. "Our business is not easy," Hindawi said. "We're securing the biggest companies in the world, and it's a very big, demanding, stressful thing." He added: "I want to treat my people with respect and decency. But at the same time, I want them to be in an environment where they can achieve great things, and it turns out great things are not cuddly. They're not easy. It's a lot of hard work. He believes that part of the reason Tanium gets a bad rap is because it's not a perk-filled, employee-pampering Valley-style startup, he said. But with this new secondary offering, the implication is, those who want to cash-out and leave can do so. So can those who want to cash out and stay. NOW WATCH: HBO just released a new 'Game of Thrones' trailer — the dragons are back More From Business Insider Here's who would win if Russia, China, and America all went to war right now Bitcoin blew past its record and soared to $2,800 in just a few hours — and now it's plunging Here's why the US would have to be insane to attack North Korea || Wild swings, lack of liquidity keeping U.S. funds out of bitcoin: By David Randall NEW YORK (Reuters) - A lack of liquidity is keeping U.S.-based mutual fund managers from investing in bitcoin even as the digital currency hits record highs. Only four out of the more than 10,000 mutual funds based in the United States have bitcoin as part of their portfolios, according to data from Morningstar Inc. Of those four, three are from the same New York-based firm, Kinetics, which collectively manages $1.2 billion in total assets. The company declined a request to comment for this story. The value of bitcoin has more than doubled this year in volatile trading as retail investors in Japan and South Korea have piled into the digital currency. Bitcoin has also been increasingly used in so-called ransomware attacks because of its untraceable nature [L1N1IQ24E]. The price of a single bitcoin peaked at $2,760.10 on the Bitstamp exchange on Thursday, but has since fallen to $2,292.53. More funds would likely invest in bitcoin if the Securities and Exchange Commission were to approve an exchange-traded fund that holds the digital currency, said Todd Rosenbluth, director of ETF and mutual fund research at CRFA. Such a move would allow fund managers to easily buy and sell shares of bitcoin to either speculate on its price or to use as a hedge, similar to how funds invest in the $34.3 billion SPDR Gold Trust ETF in order to get exposure to gold, he said. "From a mutual fund perspective, liquidity is paramount," he said. Investors Cameron and Tyler Winklevoss tried for more than three years to convince the SEC to allow the first bitcoin-focused ETF. The agency's staff ruled against them in March, yet the commission is now reviewing that decision. Any U.S.-based mutual funds that do have exposure to bitcoin own it through shares of the Bitcoin Investment Trust, a $797 million closed-end fund sponsored by New York-based Grayscale Investments that trades in the lightly-regulated over the counter market. Each share of the fund owns approximately a tenth of a bitcoin. The lack of availability of the shares have pushed their prices well above the underlying price of bitcoin itself. Shares of the closed-end fund are up 77.1 percent over the last 5 days, according to Thomson Reuters data, while bitcoin itself is down 2.9 percent. Those wild swings and lack of clear prices make bitcoin "uninvestable" right now, said one mutual fund manager who did not want to be quoted by name.
[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $2487.54@bitstamp. High $2570.00. Low $2460.00. Market Cap $40.722 Billion #bitcoin || 1 DOGE Price: Bter 0.00000078 BTC #doge #dogecoin 2017-07-11 00:31 pic.twitter.com/PxtOnP5UZZ || BitPay investor Ashton Kutcher dropped by our office this week to talk to our team & share insights on taking #bitcoin payments mainstream. https://t.co/2Lgsmoufhe || 19:00~20:00のBitcoin市場はしっかりだったみたいだね。
変化率は-0.6504%
21:00までは反騰?
直近の市場の平均Bitcoinの価格は317403.0円
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || ¡En tiempo real! Consulta aquí el precio oficial del Bitcoin http://www.preciobitcoin.net/?btz97=0058061415 … || $2024.99 at 11:45 UTC [24h Range: $1830.00 - $2099.00 Volume: 25987 BTC] || Bitcoin preço atual #bitcointoyou : 1 BTC = 9219,99 Reais 22/06/2017 00:04:36 #1xbit #bitcoin #preçobitcoin http://bit.ly/2rEJXKs pic.twitter.com/JDExQ3EDmB || Le bitcoin casse son plafond de verre https://www.lesechos.fr/finance-marches/marches-financiers/030383952192-le-bitcoin-casse-son-plafond-de-verre-2094397.php#xtor=CS1-25 … || #BTC 24hr Summary:
Last: $2403.60
High: $2415.00
Low: $2250.00
Change: 1.95% | $46.04
Volume: $ 13829.10
$BTC #Bitcoin #coinbasepic.twitter.com/Zg4k1qAoDt || Congratulations to the guy who managed to scare everyone with his posts about the American law project http://ift.tt/2sDs0Qo (via /r/btc)
|
Trend: up || Prices: 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01
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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 2016-04-01]
BTC Price: 417.96, BTC RSI: 51.11
Gold Price: 1222.20, Gold RSI: 47.55
Oil Price: 36.79, Oil RSI: 48.71
[Random Sample of News (last 60 days)]
University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || The biggest names in bitcoin and blockchain in 2016: While critics are still dubious of the future viability of the digital currency bitcoin, at least one group isnt: venture capitalists. VCs pumped more investment into bitcoin and blockchain-related startups last year than in any previous year nearly $1 billion . The investors are keeping this industry hot, even if we havent yet seen any so-called killer app," a mainstream use case for bitcoin that would compel the average person to care. And it isnt just investors leading the chargeits a handful of key executives, thinkers and even policy people . Of course, investors are just as keen on companies exploring the blockchain, which is the decentralized ledger technology on which bitcoin runs. (For a full explainer on blockchain, watch this video .) The hype around the idea of banks using a form of blockchain (without bitcoin) is high, even though a PwC survey this month found that 57% of financial executives say they're unsure about implementing blockchain tech in banking. So, who are the big believers? They are some of the biggest names in bitcoin and blockchain right now. Some are executives at the most well-funded companies, some are investors in those companies. All of them bring clout and connections to bitcoin and the blockchain. Here are 11 of them, curated by Yahoo Finance with input from a number of industry insiders. This is not a list of the hottest bitcoin companies, nor is it a ranking. Its an unofficial look at the individuals bringing mainstream attention to this still-nascent, still-controversial corner of tech. Call them the "bitcoin celebrities" if you like. This list is unranked (alphabetical order). Feel free to debate, dispute and make your own suggestions in the comment section. 1. Marc Andreessen, Andreessen Horowitz Everyone in tech knows Andreessen. He is the co-founder of Netscape, a board member at Facebook, eBay and others, and co-founder of the Silicon Valley powerhouse venture capital firm Andreessen Horowitz. The firms portfolio includes investments in bitcoin wallet company Coinbase (see No. 6), 21 Inc (see No. 9), and TradeBlock. In 2014, he wrote an op-ed in the New York Times boldly titled, Why bitcoin matters. He liberally shares bitcoin and blockchain-related news to his 500,000 Twitter followersa considerable benefit to bitcoiners. Story continues 2. Brian Armstrong, Coinbase When Coinbase, one of the earliest bitcoin startups, raised $75 million in funding in January of last year, it was at the time the biggest fundraising round ever for a bitcoin company. (The figure has since been shattered by 21 Inc.) And Coinbase, which has raised $107 million total, remains arguably the best-known name among all bitcoin startupsit is often where people go to get a bitcoin wallet and to buy their first bitcoins. It was first to market with a bitcoin exchange platform in the U.S. (others waited longer in order to get certain licensing) and Armstrong, its leader, is one of the most sensible thinkers in the industry. ( His post explaining the debate over block size distills the issue clearly.) 3. Adam Back, Blockstream Bitcoin is partially based on a previous system called hashcash, an algorithm that cut down on email spam by requiring proof of work, an early form of what is now bitcoin mining. Back created hashcash. Now the cryptographer, as president of blockchain startup Blockstream, has become one of the loudest voices in the debate over whether, and how, to increase the size limit of transaction bundles (or blocks) on the bitcoin blockchain. His experience in business (he's worked as a consultant to Nokia) and in academia (he has a PhD in distributed systems) have made him a unique authority in the space. Reid Hoffman, the influential co-founder of LinkedIn ( LNKD ), made a personal investment of $21 million in Blockstream, and the company has raised $76 million overall. 4. Vitalik Buterin, Ethereum Ethereum is a bitcoin alternative that some believe has more potential than bitcoin. The platform runs on a decentralized blockchain, like bitcoins, that allows for any peer-to-peer exchange of value, and it uses its own currency, Ether. And the company is a non-profit. Buterin developed the concept in 2013, and in 2014 sold about 60 million ether in a pre-sale , which worked out to $18.4 million at the time. The Ethereum chain went live last summer. Buterin, who is only 22, is seen as a wunderkind; he also helped launch Bitcoin Magazine. 5. Wences Casares, Xapo Reid Hoffman has called Wences Casares the Patient Zero for bitcoin in Silicon Valley. His startup Xapo was one of the earliest bitcoin wallet companies, though it's embroiled in a legal dispute with LifeLock, the company that acquired Casaress previous startup, Lemon. (LifeLock alleges Casares and others created Xapo while still working at Lemon, within LifeLock; he has filed a counter-suit.) Most importantly, PayPal created a new seat on its board of directors for Casares in January. The appointment was seen as big news for bitcoina bitcoin entrepreneur on the board of PayPal was quite a milestone. And Xapo has raised $40 million in funding. 6. Blythe Masters, Digital Asset Holdings Masters is one of a kind in the bitcoin world. She spent nearly 30 years as a JPMorgan ( JPM ) executive, including as head of global commodities, before leaving to run Digital Asset Holdings, a startup that seeks to apply blockchain tech to Wall Street. Its first big client: her former employer. JPMorgan is working with Digital Asset Holdings to test out a use of blockchain to settle transactions faster. DAH has raised $60 million in funding. Because Masters is a known name on Wall Street, her move brought big legitimacy to the space. (And Masters isn't the only female leader in bitcoin : Catheryne Nicholson is CEO of small blockchain startup BlockCypher, which has raised $3.5 million, and Elizabeth Rossiello is CEO of BitPesa, which is working on bitcoin payments in Africa.) 7. Jesse Powell, Kraken Kraken is a bitcoin exchange headquartered in San Francisco, but with most of its activity in Europe. Heres why thats relevant: Last year, when the New York State Department of Financial Services (NYDFS) released its controversial regulatory framework for bitcoin companies, the Bitlicense, Kraken led a charge of bitcoin startups out of New York . The company wont do business in the state, which is a financial risk but a compelling stance against what Powell and others see as restrictive legislation. Kraken, which has raised $6.5 million in funding, has stuck to that vow even as it has ramped up acquisitions lately, buying out Coinsetter , a U.S. exchange that itself had bought out Cavirtex, a Canadian exchange. Kraken's purchase of Coinsetter was the biggest ever M&A deal in the bitcoin space; Coinsetter did operate in New York, but now it won'tthat's how rigid Powell is in his stance. Kraken is continuing to get bigger, but without New York, the very place where so much of the activity around blockchain is centered. 8. David Rutter, R3 R3 CEV is the private firm that rolled out a consortium (the Distributed Ledger Group) for banks interested in exploring blockchain technology. More than 40 of them have signed on, including Bank of America ( BAC ), Citi ( C ), Deutsche Bank ( DB ) and Wells Fargo ( WFC ). And this month R3 announced an extensive test of online distributed ledgers for banks, with help from Chain, Ethereum (see No. 10) and IBM. It is R3 that has attracted institutions whose involvement can turn the abstract notion of "blockchain for banks into a reality. 9. Barry Silbert, Digital Currency Group In 2004, Barry Silbert founded SecondMarket, which allows people to buy stock in non-public companies. He sold the company to Nasdaq last year and has since launched Digital Currency Group, the biggest investment firm in bitcoin and blockchain companies. (It has invested in more than 75.) Most recently, DCG bought the leading bitcoin news site, Coindesk, acquiring the annual bitcoin industry conference Consensus along with it. Almost every time a bitcoin startup announces a new fundraising round, Silbert and DCG are involved. Silbert also launched the Bitcoin Investment Trust ( GBTC ), which trades over-the-counter and is designed to track the price of bitcoin. 10. Balaji Srinivasan, 21 Inc. Srinivasan, the cofounder and CEO of 21 Inc, is also a board partner at Andreessen Horowitz. When 21 first launched publicly, it remained mysterious. It wasnt clear what 21 would be doing, but observers had high expectations: The company raised more than any other bitcoin startup, $121 million in funding. Last year, 21 finally unveiled its first product a small bitcoin personal computer for building apps on top of the bitcoin blockchain. 11. Cameron and Tyler Winklevoss, Winklevoss Capital The Olympic rowers made their name when they sued Facebook ( FB ) cofounder Mark Zuckerberg and got $65 million. Since then, theyve been eager to prove themselves as entrepreneurs, and they have made bitcoin the space in which to prove it. They launched a bitcoin pricing index, Winkdex, in 2014the site is cleanly designed and tracks the price of bitcoin over time. This year, they launched Gemini, a bitcoin trading exchange. Like their pricing index, the design is appealing, but the user base is small. (Gemini is only doing an average $338,000 in trade volume per day, according to data from TradeBlock; by comparison, Kraken sees about $1.3 million in daily volume.) Their bigger ambition: the Winklevoss Bitcoin Trust, a bitcoin ETF, which will trade on the Nasdaq under the symbol COIN but still awaits regulatory approval. There are signs that the bitcoin community doesnt love the Winklevoss brothers yetone prominent bitcoin executive told Fortune , Our industry would prefer that if theres a celebrity spokesperson, it not be them. But the jetsetting duo certainly bring mainstream star power to bitcoin. -- This is the third in a three-part Yahoo Finance series focused on blockchain technology. The first part was about why big banks are expressing interest in the blockchain; the second part was about how you could invest in the blockchain. Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || University of California Berkeley notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || This Country Has Gone Nearly 25 Years Without a Recession: They called it Super Tuesday in America, but it was the Australian economy that won the day. The Australian Bureau of Statistics announced that its economy grew at an annualized rate of 3.0% in the fourth quarter of 2015, above the estimates of economists who predicted that the Aussie economy would be more negatively affected by the economic slowdown in China. It also marked the 98th straight quarter that the Australian economy has avoided a recession. That’s right, Australia has gone almost 25 years without having two consecutive quarters of negative growth, the standard definition of a recession. As Business Insider Australia points out , this brings the Aussie’s close to the developed-world record held by the Netherlands, whose own streak of 103 straight quarters without a recession came to a halt during the global financial crisis. Australia has been able to avoid a recession because of its close ties to the Chinese economy. It’s wealth of natural resources and proximity to China made it the go-to supplier of China’s manufacturing boom. Although it’s been able to avoid being brought down by the Chinese slowdown thus far, many economists remain pessimistic. "We should be cautious given the poor quality of the growth, which was driven by a rise in government spending and household expenditure that relied on a run down in savings," said Andrew Ticehurst, rate strategist at Nomura, told the Financial Times. See original article on Fortune.com More from Fortune.com Australian Avocado Prices Soar as Supply Goes Pear-Shaped An Australian Family Rents an Airbnb That Turns Out to Be a Drug Den Ad Agency Defends Mocked 'Stoner Sloth' Anti-Marijuana Campaign Australian Police Have Raided the Home of Bitcoin's Supposed Creator Taylor Swift Takes Her 125-Person Crew on Vacation || What to Expect from Overstock.com's (OSTK) Q4 Earnings?: Overstock.com Inc.OSTK is expected to report fourth-quarter 2015 results after the closing bell on Feb 4.
Overstock.com is an online closeout retailer that sells brand-name merchandise at deep discounts. The offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories.
Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.
Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect the t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com.
The blockchain technology allows investors and buyers to track down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of securities.
Additionally, Overstock started the Black Friday holiday sales event a full week before the shopping holiday. This should have a favorable impact on the fourth-quarter results.
Apart from this, Overstock also announced that Merrill Lynch Professional Clearing Corporation (“Merrill Pro”), the last defendant remaining after Goldman Sachs, in Overstock.com’s longstanding market manipulation case, has settled its claims by paying $20 million to Overstock.com and its co-plaintiffs. This is likely to boost results in the to-be-reported quarter.
Stocks to Consider
Here are some stocks, which you may consider as they have a favorable Zacks Rank and a positive Earnings ESP and are likely to post an earnings beat this quarter:
MaxLinear, Inc. MXL has an Earnings ESP of +2.94% and a Zacks Rank #1 (Strong Buy).
SolarWinds, Inc. SWI has an Earnings ESP of +2.27% and a Zacks Rank #1.
Fidelity National Information Services, Inc. FIS has an Earnings ESP of +2.17% and a Zacks Rank #3.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSOLARWINDS INC (SWI): Free Stock Analysis ReportMAXLINEAR INC-A (MXL): Free Stock Analysis ReportFIDELITY NAT IN (FIS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || BTCS Announces Letter to Shareholders From CEO: ARLINGTON, VA--(Marketwired - Feb 23, 2016) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, released a Letter to Shareholders updating current activities and outlining its corporate strategy for 2016, as follows: Dear Shareholders, Over the past few months, several major investment banks have published research foretelling the significant potential for blockchain technologies to revolutionize industries on a massive scale. Recognizing this potential, much of our work in 2015 focused on building a strong operational foundation to capitalize on the rapidly-evolving blockchain opportunity. Despite many successes in this effort, our stock continued to decline throughout 2015 and is now trading near its 52-week low. As a significant shareholder myself, I too am feeling the pain of our low stock price, and I firmly believe it is not representative of our accomplishments or potential. BTCS originally began operations focused exclusively on the Bitcoin ecosystem, and while our revenues today are generated from securing the blockchain through our transaction verification services segment, we plan to evaluate broader opportunities in blockchain consumer solutions. As noted in recently published research from Goldman Sachs, the real opportunity lies in the underlying technology of Bitcoin, the blockchain. Referred to as the golden egg by analysts at Goldman Sachs, the blockchain can not only live outside of Bitcoin, it has the potential to streamline a multitude of businesses. We believe the work we completed in 2015 has established us as an early mover in this burgeoning market opportunity, positioning us for strong shareholder value improvement in the quarters and years ahead as the use of blockchain technologies begins to revolutionize standard business practices. Our current transaction verification operation touches every blockchain transaction. Even after doubling our server processing power in January of 2016, we're currently using just 33% of the expanded power capacity we added in July 2015. The foundation to rapidly scale our operations is in place, and our pending merger with Spondoolies-Tech Ltd. ("Spondoolies") is poised to provide us a technology advantage that we believe will positively impact revenues over the long-term. Story continues We've also strengthened our financial footing, most recently with the completion of a $1.45 million capital raise in December 2015, 1,225% year-over-year revenue growth for the fiscal year ended 2015, and a 25% decrease in cash flow used from operating activities. Our management team remains dedicated to creating value and protecting our shareholders and continues to demonstrate its commitment to the future of BTCS through positive steps at improving our capital structure. From management's voluntarily return of 12.75 million shares of stock valued at $1.15 million in late 2014, which absorbed nearly all of the dilution from our January 2015 funding, to the recent voluntary escrowing of founder shares representing 15% of the outstanding shares of the company, we are literally "putting our money where our mouth is" and plan to continue to work tirelessly to make our company a success. Looking ahead, there are several key milestones we anticipate achieving in 2016. We believe our transaction verification services business will lead to rapid revenue growth this year, and our pending merger with Spondoolies should further strengthen our financial performance and product offerings. If we complete these and other initiatives, ultimately we believe we will be in a position to up list to a major exchange this year, greatly improving our visibility in the capital markets and setting the stage for further acceleration of growth as blockchain technology spreads across the global economy. Blockchain technology is still in its infancy, and just as the Internet has become a ubiquitous driver of global commerce in a relatively short period of time, we believe the impending boom in blockchain adoption is nearly upon us. On behalf of our management team, I want to personally thank you for your continued support. Sincerely, Charles Allen CEO and Chairman About BTCS: 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. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS 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. || The Crisis in Bitcoin and the Rise of Blockchain: Remember the hype over bitcoin? The crypto-currency that so tantalized techies and excited investors is today in a sorry state: Its core supporters are at war with each other and ordinary consumers still don’t care about this supposedly revolutionary form of money. But that’s only half of the story. The other half is about the remarkable rise of blockchain, the core technology underlying bitcoin that is enjoying unprecedented adoption by banks and big business. This development--the fall of bitcoin and the rise of blockchain--has accelerated in recent months, and it has big implications for those who have sunk hundreds of millions of dollars into these technologies. Here’s the latest on the story of bitcoin, which has turned out far differently than many imagined. How We Got Here Flash back five years, the bitcoin scene was an exciting place to be. A motley mix of coders, libertarians, and get-rich-quick hucksters latched onto the promise of bitcoin founder Satoshi Nakamoto’s new distributed, tamper-proof money system and ledger run from millions of computers. The ledger provided an indelible record of near-anonymous financial transactions in offering a global payment platform to ordinary merchants, drug dealers, and everyone in between. The early bitcoin buzz soon exploded, and the currency’s value briefly soared to $1,200 . The mainstream news media caught onto the story while venture capitalists lined up to fund any business with “bit” in its name. Meanwhile, businesses from Virgin Galactic to the NBA’s Sacramento Kings realized they could get a heap of free press just by announcing they would accept bitcoin. The currency never caught on, however. Despite all the startups offering wallets and other tools to popularize the payment technology, average consumers never took to bitcoin--even as they did adopt another person-to-person mobile payment platform, known as Venmo , in droves. So what happened? One problem is that bitcoin never shook its sordid side. While there is nothing intrinsically evil about bitcoin, its most famous adopters have always been a rogue’s gallery of fraudsters, prostitutes, dark web drug lords , and Ponzi schemers . Even some members of bitcoin’s governing foundation, who sought to make the currency respectable, are on the lam or in jail . Story continues This rogue reputation certainly didn’t help bitcoin. But it wasn’t the crypto-currency’s biggest problem. Instead, the main reason bitcoin didn’t catch on is because it’s just not practical. Even if you can find merchants who accept it, the process involves exotic apps, currency transactions, and a verification process that takes minutes to get the okay. Compare that to swiping a credit card, and you see the problem. In recent months, bitcoin’s adoption problem has suddenly worsened. Meanwhile, big banks are finding they can use bitcoin’s best feature and leave the currency itself behind. Get Data Sheet , Fortune 's technology newsletter. The Current Crisis and the Rise of Blockchain “Bitcoin’s nightmare scenario has come to pass,” read a headline this week from tech site, The Verge. That’s a pretty fair way to describe a recent schism within the bitcoin developer community--the collection of gnomes who decide on the protocols and computer code under the hood. The Verge report offers a good run-down of the technical specifics but, for present purposes, they can be summed up like this: the bitcoin community failed to agree on a system upgrade, which means the ledger’s infrastructure faces a growing backlog, and it now takes over 40 minutes to confirm a transaction. As a result, bitcoin is less practical than ever and merchants (the few who accepted it in the first place) are bolting. This schism deals a further blow to bitcoin’s hopes of ever becoming a mainstream currency. This is a setback for the bitcoin community, but here’s the kicker: it doesn’t really matter. That’s because the true value of bitcoin is not the currency itself. Instead, it’s the blockchain technology underneath it. Banks and other big businesses have already reaped the benefit of this technology. As Fortune reported in December, IBM , Intel , JP Morgan , and several other big banks are betting on the blockchain’s ledger system. As with bitcoin, the system requires a set of diffuse computers to prove that a transaction has occurred. Once a confirmation occurs, it’s recorded in a common ledger and cannot be reversed. Why is this such a big deal? It has to do with record keeping. The idea of a tamper-proof ledger created by computers is so significant because it could let a number of industries--especially banking, brokerages, and law firms--overhaul the way they do business. Instead of relying on slow and cumbersome settlement systems to notarize and record documents, they can let a blockchain do it for them. “The clearing and settlement will be done in a matter of seconds. An efficiency comes with this that is a pretty significant force multiplier,” explains Jeff Garzick, a former bitcoin developer who recently launched a consultancy called Bloq that advises banks and others how to deploy blockchain technology. Garzick and his partner Matt Rosack expect the financial industry will begin using the blockchain for stock and loan settlements as soon as the end of this year. Likewise, they think banks’ transactions at the discount window of the Federal Reserve will soon be recorded on a blockchain. And that’s just the beginning. Garzick and Rosack say the Big Four auditing firms will soon have a blockchain-based transaction feed that will be visible to regulators, who have been studying the potential of blockchain technology for years. The Future: Blockchain Without Bitcoin Even for those familiar with crypto-currency, it can be hard to get one’s head around just how the blockchain can operate without bitcoin. The reason is that bitcoin supplies the financial incentive for people around the world, known as miners, to operate the ledger in the first place. For more about bitcoin, watch our video : In return for devoting their computers to running the blockchain (which publishes the ledger), they receive a reward in the form of a bitcoin that can be spent online or exchanged for traditional currency. In the absence of such an incentive, how do the banks plan to develop the blockchain? The answer is they are building their own version of blockchain and running it themselves. As Garzick explains, this process involves taking the core protocol underlying bitcoin and then stripping off all the “mining” and compensation functions. He says the miners are an interesting way to creating a ledger, but they are not essential in the case of a “private chain,” like the one the banks are developing. “The mining is a really elegant software solution that equally distributes who is going to validate the next set of bitcoin transactions,” Garzick says. “ A private chain replaces the entire trust-less aspect with a more private closed network of participants.” In practice, this will involve the banks rejecting a global federation of miners in favor of a handful of trusted verification partners within their own network--a process already underway . For instance, a group of 15 banks might agree that the ledger becomes official once computers from seven group members agree to record a set of transactions. So what happens to bitcoin in this scenario? As The Economist noted in a recent feature , it may become no more than a novelty or a historical curiosity. If this is the case, the venture capitalists who made big bets on consumer bitcoin startups like Coinbase and Xapo could see a pool of wealth vanish. Ditto the U.S. government, which has seized a large pile of bitcoins in high-profile drug investigations. For now, that worst case scenario for bitcoin hasn’t come to pass yet. Despite the recent convulsions in the developer community, its price has held fairly steady around $400 for months. It may find niche roles as a currency, such as for foreign remittances. Meanwhile, bitcoin still has defenders such as Jeremy Allaire, a successful entrepreneur who raised over $60 million for his startup, Circle, a money transfer service for consumers using bitcoin behind the scenes. Allaire says there is still time for bitcoin to break through in place of services like Venmo. “Venmo is another AOL--I don't want another walled garden. I want the Google of money,” Allaire said in a recent interview. “We've gone from a world where everyone is in denial about the tech and its usefulness. Now traditional financial institutes say, ‘We love the technology but we want to control it with our own private technology.’ That's not practical.” Other defenders include my former colleague at Fortune , Dan Roberts, who said the bull case outstrips the bear case for bitcoin in 2016. Still, based on recent developments, a bitcoin resurgence looks like a long shot. When the final history of bitcoin is written, the currency itself is likely to be just a colorful footnote in the tale of the emergence of a powerful new blockchain technology. See original article on Fortune.com More from Fortune.com This Could Kill the World's Most Popular Cryptocurrency Securing the City of the Future with Bitcoin Global Regulators Now Eyeing Fintech Through Machine Learning, IBM Braintrust Sees Better Days Ahead Here's Why Europe Is About to Crack Down on Bitcoin Anonymity || How big banks are paying lip service to the blockchain: IBM has high hopes for blockchain technology. The IT giantannouncedon Tuesday a laundry list of plans to use blockchain tech and to help developers do the same. IBM (IBM) will offer tools through its cloud service for building blockchain apps, and it will open up IBM "Garages" in London, New York, Singapore and Tokyo for experts to collaborate with developers on blockchain tech.
Taken in tandem with the recent flurry of banks and financial institutions expressing public interest in blockchain, the technology is having a moment. In September, a slew of banks including BBVA, Citi, Credit Suisse, JPMorgan, Royal Bank of Scotland, and UBS all joined a coalition,led by a firm called R3, to implement blockchain technology in banking. In December, five more big names hopped on board, including BNP Paribas, ING, and Wells Fargo.
But the great irony of the banks' interest in blockchain is that the idea of a blockchain for traditional banking defeats the purpose of the blockchain—at least as it has been used thus far, with the digital currency bitcoin. And top executives from some of the very same institutions that have signed on to R3 have separately disparaged bitcoin.
To understand what it is that banks claim to want to do with blockchain, you first need to understand the bitcoin blockchain, which is a public, decentralized ledger that records every single bitcoin transaction. Think of it like a library card in the cloud (not the card you use to take out a book, but the slip inside a book that lists all the borrowers). If you send a friend $5 worth of bitcoin, the transaction goes on the blockchain. If one bitcoin startup acquires another bitcoin startup for $500,000 in bitcoin, that, too, goes on the blockchain. And you can view the blockchain in real time, as transactions are uploaded, atblockchain.info. Transactions are added in bundles, called "blocks," by "miners," who receive a tiny fee in bitcoin as an incentive to mine. Miners use large, expensive computers to find and mine the blocks.
The excitement of the bitcoin blockchain, to people in the digital currency world, is the potential for decentralized applications to be built on top of it that cut out the middle man. And the blockchain can be used to store and send anything of value, so there are companies using it to store documents like property deeds and even marriage licenses.
And now: Enter the banks. They've long stayed away from bitcoin, which has a toxic public image thanks to headlines about bitcoin being used in embezzlement and Ponzi schemes. (Think of Mt. Gox andSilk Road.) MasterCard CEO Ajay Bangasaidhe believes bitcoin "starts bumping up against societal rules, which I worry about," and that, "it doesn’t give me the safety and security of knowing that I am who I am, and I’m paying who I know, which is what traditional currency does." And yet, MasterCard (MA) invested in Digital Currency Group, a venture firm that has itself invested in 65 different bitcoin and blockchain-enabled businesses. JPMorgan CEO Jamie Dimonsaidbitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it." And yet, JPMorgan (JPM) has signed on with R3.
Forget bitcoin, embrace blockchainBitcoin is doomed, if you ask Dimon. But the blockchain—nowthat'sexciting. As Dimonsaidon CNBC last month, "The blockchain is a technology, which we’ve been studying... and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff."
Translation: Blockchain is hot, bitcoin is not. We are seeing this sentiment again and again. IBM, in its extensive press release this week about its blockchain efforts, does not use the word "bitcoin" once. Bitreserve, a cloud banking vault launched by CNET founder Halsey Minor and led byformer Barclays CIO Anthony Watson, was so eager to shed the stink of bitcoin that it changed its name to Uphold. Blockchain "is so hot right now,"writes Erik Voorhees, the CEO of bitcoin startup Shapeshift, while bitcoin "has been left by the wayside, ignored like an embarrassing relative at a family gathering.” (And yet the price of bitcoin is up 24% in the last six months, 85% in the last six.)
What will using blockchain tech even look like for banks? R3's web site says its mission is "building and empowering the next generation of global financial services technology." That's pretty vague. David Rutter, CEO of R3 and a former executive at London-based electronic brokerage ICAP, has said R3 will help banks and financial firms use the "fabric" of blockchain technology.
You might think that people in the bitcoin world are pleased to see big, incumbent financial institutions embracing the underlying technology behind the leading cryptocurrency. They are not. Most of them see the banks' stated interest as empty lip service so far.
What most people believe the banks want to do is employ somethinglikethe blockchain in their record-keeping processes: record customer deposits and withdrawals on a blockchain as opposed to whatever (likely outdated) software they currently use. Sounds simple enough. But it would have to be a closed ledger, accessible only to customers of the banks. And therein lies the contradiction: the bitcoin blockchain is public and open-sourced; nothing about it is closed.
"Ican see why banks are interested in using permissioned ledgers, and maybe it will make their back office more efficient," says Jerry Brito, executive director of digital currency nonprofit Coin Center. "But at the end of the day, it's not a very exciting innovation. The real innovation is a completely open and global ledger that is permission-less. Having a closed, permissioned ledger run by banks, that might allow for better auditing, but there’s no innovation there, you still have to go through a consortium to use the ledger." That is, what banks seem to want to do is incongruous to the purpose of the blockchain.
Digital Currency Group's Barry Silbert, who founded SecondMarket, which allowed for the trading of stocks in non-public companies, is similarly dubious of the "blockchain for banking" theme. "I’ve spoken quite publicly about my skepticism around the private blockchain approach," he tells Yahoo Finance.
If R3 doesn't yield innovative fruit, then why are banks rushing to join up? For starters, as a PR effort: once a few were involved, the others looked stodgy by delaying. But Brito also believes the interest will subside once banks actually learn more about blockchain technology. "I think right now investors are kind of waiting for Wall Street to get through this blockchain phase," he says. "They have blockchain fever and they need to just get over it. Because if they develop their own closed blockchains,soon they’ll all realize they want to talk to each other, and they’ll be back to square one, doing banking."
The bitcoin blockchain is open, global and permissionless. It has potential to serve as the backbone for additional exciting applications. If traditional banks want to employ it in their way, by acting as gatekeepers, it defeats the purpose. But don't expect that to dampen their public expressions of interest just yet.
This is the first in a three-part Yahoo Finance series about blockchain technology. Thesecond partis about how you can invest in the blockchain; thethird partis about the biggest names in the industry.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Here's a sign that PayPal is embracing Bitcoin || Canada's TSX hires Bitcoin guru, studies currency's technology: By Ethan Lou TORONTO (Reuters) - The Toronto Stock Exchange has hired a Bitcoin entrepreneur as its first chief digital officer as it explores the capabilities of blockchain, the technology behind the virtual currency, a senior executive at TSX parent TMX Group said on Thursday. Anthony Di Iorio, who has founded several companies based on the technology, filled the role at Canada's largest stock exchange in January, Jean Desgagne, chief executive of TMX's Global Enterprise Services, said in an interview. Stock exchanges are embracing blockchain, which allows Bitcoin users to conduct secure transactions without middlemen, as they seek to diversify and boost profit margins. When used to issue securities, the technology could potentially remove the need for clearing houses. "Blockchain is a disruptive technology," Desgagne said, noting that major changes could result from its potential adoption. "We're focused on it, we're going to learn." In January the Australian stock exchange said it had enlisted a blockchain startup to develop a new trade settlement system. Nasdaq in the United States used the technology last year to issue securities to an unidentified private investor. Last month, Nasdaq said it was developing a blockchain-based shareholder voting system for its Estonian stock exchange. Blockchain could make operations "better, faster, cheaper," Desgagne said, but noted that, if adopted, the technology would be only one element in TMX's digital operations. Di Iorio and Desgagne declined to discuss details about potential blockchain projects at TSX. Di Iorio is the founder of the Bitcoin Alliance of Canada and a co-founder of Ethereum, a blockchain-based computing platform. (Reporting by Ethan Lou; Editing by Euan Rocha and Richard Chang) View comments || Your first trade for Thursday: The "Fast Money" traders gave their final trades of the day.
Tim Seymour is a seller ofiShares MSCI Emerging Markets (EEM)
Brian Kelly is a seller ofEnergy Select Sector SPDR ETF(XLE)
Karen Finerman is a seller of Priceline (PCLN)
Guy Adami is a buyer of NetApp (NTAP)
Trader disclosure: On February 17 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:Tim is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
BRIAN KELLY:Brian is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, Euro, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
KAREN FINERMAN:Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International.
GUY ADAMI:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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[Random Sample of Social Media Buzz (last 60 days)]
Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin || #UFOCoin #UFO $ 0.000030 (-29.55 %) 0.00000007 BTC (-30.00 %) || Where is #bitcoin in #StarTrek's 24th century? All the promise filled, what is the setting and the society like? @gavinandresen || Bitcoin Ransomware Education - CoinVault - The Merkle http://themerkle.com/news/bitcoin-ransomware-education-coinvault/ … #bitcoin #ransomware #coinvault #crypto #news || Liquid Bitcoin || LIVE: Profit = $138.07 (7.43 %). BUY B4.81 @ $400.00 (#VirCurex). SELL @ $404.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || 飯だ 飯
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Trend: no change || Prices: 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-08-30]
BTC Price: 19796.81, BTC RSI: 33.93
Gold Price: 1723.20, Gold RSI: 37.84
Oil Price: 91.64, Oil RSI: 46.37
[Random Sample of News (last 60 days)]
FOREX-Nervous calm as dollar braces for inflation test: By Tom Westbrook and Alun John SINGAPORE, Aug 10 (Reuters) - Major currencies held steady on Wednesday with traders reluctant to place large bets ahead of U.S. inflation data, which markets will scrutinise closely for guidance on how steeply the U.S. Federal Reserve will raise interest rates in the coming months. The figures are due later in the global day at 1230 GMT. Economists expect year-on-year headline inflation to be running at a scorching 8.7%, a small retreat from June's whopping 9.1% figure. Core inflation is expected at 0.5% month-on-month. Currency market moves have been slight in the lead up, and for previous releases, reactions have been more muted than in the volatile bond market. The greenback was broadly steady overnight, having paused a bit from a retreat that began in the middle of July. It bought 135.02 Japanese yen and sat at $1.0215 per euro. The Australian and New Zealand dollars were also calm, with the Aussie last at $0.6956 - just above its 50-day moving average. The kiwi traded at $0.6291. Traders expect reaction to turn on the core inflation figure. "The market will initially get more excited by a downside core CPI surprise than an upside surprise," said Deutsche Bank strategist Alan Ruskin, feeding in to hopes that falling commodity prices mean inflation can quickly recede. "It will also play to the market's recent proclivity to buy risk dips, and will be a broad-based negative for the U.S. dollar," he said. "An upside core CPI surprise will fit with the pattern of the last three releases...the purist long dollar trade in this instance is versus the yen," he said, adding dollar/yen could rise into a 135-139 per dollar range. A quick reading on policymakers' reaction may come from Fed officials Charles Evans and Neel Kashkari who are due to make speeches at 1500 GMT and 1800 GMT, though they will have another set of price data in August before September's policy meeting. "A one-off sharp drop in CPI at this point should not mean that much to the Fed," said NatWest Markets' rates strategist Jan Nevruzi. "They need to see at minimum a consistent multi-month trend to turn around, while acceleration in inflation means that a lot more has to be done on the tightening front." Chinese inflation data released earlier in the day showed a small increase in consumer inflation, to 2.7%, and a slowdown in factory-gate price growth. HSBC analysts said the still muted CPI print indicated "ongoing pressure in the consumption recovery". In offshore trade, the yuan lost a little ground to 6.761 per dollar. In emerging markets, the Bank of Thailand is expected to lift interest rates from record lows and the baht hung on to recent gains. Bitcoin, rattled by a drumbeat of cryptocurrency fund wipeouts and thefts over recent months, was at $23,000 on Wednesday. ======================================================== Currency bid prices at 0538 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0218 $1.0213 +0.04% -10.13% +1.0219 +1.0203 Dollar/Yen 134.9400 135.1250 -0.12% +17.34% +135.2950 +134.9100 Euro/Yen Dollar/Swiss 0.9537 0.9537 +0.01% +4.56% +0.9544 +0.9535 Sterling/Dollar 1.2081 1.2075 +0.07% -10.66% +1.2091 +1.2066 Dollar/Canadian 1.2884 1.2883 +0.00% +1.89% +1.2895 +1.2883 Aussie/Dollar 0.6957 0.6962 -0.06% -4.29% +0.6966 +0.6947 NZ 0.6293 0.6288 +0.08% -8.06% +0.6295 +0.6277 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook; Editing by Lincoln Feast & Shri Navaratnam) || GLOBAL MARKETS-European stocks fall as weak economic data hits sentiment: * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn * Graphic: World FX rates http://tmsnrt.rs/2egbfVh LONDON, Aug 19 (Reuters) - European stock indexes fell on Friday after German producer prices saw their biggest rise on record, while the dollar hit a one-month high as investors stayed cautious. Asian stocks had struggled to find direction, with concerns about the health of China's economy weighing on sentiment, and by 0820 GMT, the MSCI world equity index, which tracks shares in 47 countries, was down 0.3% on the day. In Europe, German producer prices - which are seen as a leading indicator for inflation - saw their highest ever increases in July, data released early in the session showed, as energy costs continued to surge. Energy prices were up 105% compared with July 2021, mainly due to higher prices for natural gas and electricity. Natural gas prices had hit a record closing high on Thursday . Germany's finance ministry said on Friday that the economic outlook for Germany is gloomy. Europe's STOXX 600 was down 0.4% on the day, on track for a 0.4% weekly decline too. German bond yields rose, with the 10-year yield gaining as much as 8 basis points to 1.184%, a four-week high, as the producer price data was seen as reinforcing fears of "stagflation" - a combination of high inflation and low growth. Meanwhile, UK consumer sentiment hit its lowest since at least 1974 in August, with households feeling "a sense of exasperation" about the rising cost of living. British retail sales data for July came in higher than expected, driven by a surge in online spending, but volumes are expected to resume their decline as costs rise. The Bank of England has warned that high inflation is likely to tip Britain into a recession later this year. "When market participants start to return from their holidays and look back at the past days and weeks, they will find central banks still far from having achieved their goals of reining in inflation," ING rates strategists said in a note to clients. "That means a continued tussle between central bank tightening expectations and recession fears." The threat of higher borrowing costs also hung over markets as no less than four U.S. Federal Reserve officials signalled there was more work to do on interest rates, with the only difference being on how fast and high to go. The U.S. dollar benefitted from the Fed's hawkish comments, hitting a one-month high. The dollar index was up 0.2% at 107.7 and the euro was trading at $1.008. The euro has lost 1.7% versus the dollar so far this week. Story continues The dollar also rose versus the Japanese yen, with the pair up 0.5% at 136.54. The 10-year U.S. Treasury yield climbed higher, close to a one-month high at 2.9317%. Oil prices slipped after two days of gains, set for a weekly drop as traders worried about a global economic slowdown. Bitcoin dropped sharply and hit a three-week low of $21,404. Next week, investors will be paying close attention to the minutes from the European Central Banks' July meeting, as well as comments by U.S. Federal Reserve Chair Jerome Powell when he addresses the annual global central banking conference in Jackson Hole on Aug. 26. UK and euro area "flash" PMI data is due on Aug. 23. (Reporting by Elizabeth Howcroft; Editing by Jacqueline Wong) View comments || Ukraine Economy To Receive Boost Thanks To QMALL And Oleksandr Usyk Partnership: The QMALL cryptocurrency exchange and Ukrainian professional boxer Oleksandr Usyk have officially partnered up ahead of the athlete’s upcoming fight against Anthony Joshua on August 20th
Vilnius, Lithuania, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The QMALL cryptocurrency exchange and Ukrainian professional boxer Oleksandr Usyk have officially partnered up ahead of the athlete’s upcoming fight against Anthony Joshua on August 20th. The objective of the partnership is to promote the cryptocurrency sector whilst also bolstering the European market and helping Ukraine’s economy get back on track and have its market operate at a global level.
Important details
The collective efforts and support for Ukraine of both Usyk and QMALL shall demonstrate the joint power and capabilities of the two top brands to not just cryptocurrency enthusiasts, but also sports fans in general. Keeping this in mind,Oleksandrwill emerge for his fight in front of a packed audience while wearing QMALL merchandise, which isn't a new phenomenon by any means as other athletes like Israel Adesanya also recently wore gear that was sponsored by and showcased Crypto.com.
The partnership between QMALL and Oleksandr could very well be advantageous for the market and aid in its recovery, as cryptocurrencies remain highly popular around the world, and the sheer volume of mainstream attention paid to these digital assets cannot be overstated.
Furthermore, QMALL has a European license and is legally allowed to operate in Europe. The exchange currently has over 300,000 European traders, and a number of launchpads for new European cryptocurrency initiatives will be launched on the exchange next month in September. QMALL users will also be able to invest in a wide range of new projects exclusively through the exchange's token. Holders of this token will find that they can access many additional benefits which will also have a direct effect on growth.
Previous achievements and future goals
Regarding previous accomplishments, QMALL's announcement about the formation of Europe's largest launchpad (QPad), which is open to crypto startups from all over the world, was a defining moment in the digital space. The project will be presented in partnership withSophia Antipolis, Silicon Valley's French equivalent. QMALL had also embedded the Euro for the exhange's trading services in order to further enhance users' experiences on the platform and simplify the trading process.
Additionally, QMALL will introduce new launchpads before long, and the first Ukrainian Crypto Bank is also being developed. Lastly, cryptocurrency cards will be released soon as well as the world's first meta crypto exchange.
About QMALL
As a legally licensed crypto exchange,QMALLis legally permitted to function in Europe and offer its services. As previously mentioned, the exchange has gained more than 300,000 European traders, all of whom are actively taking part in the burgeoning crypto space through QMALL’s various trading functionalities such as basic, advanced and fast trading, OTC services, a trading derby, support for many cryptocurrency assets like Bitcoin, Ethereum, Litecoin and more. QMALL will also launch numerous launchpads for new European crypto projects in September 2022, and the exchange's customers will be able to invest in many new projects as well via the native token (QMALL).
Essentially, the exchange wishes to help improve the current state of the European market and assist in its recovery following the recent COVID-19 pandemic. Like a majority of other cryptocurrency exchanges, QMALL has therefore established partnerships with the likes of Sophia Antipolis and most recently with Oleksandr Usyk.
For additional information and regular updates, visit the official website along with theTelegram,LinkedInandTwitterchannels.
Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. This is not an investment advice. Please do you own research.
Media Contact :
CEO name: Yevhen ZorchenkoE-mail: support@qmall.ioPhone: +380953252904Company: UAB QmallCountry and city: Lithuania, Vilnius
Newsroom:socials.submitmypressrelease.com || Top 5 Cryptocurrency Pairs to Watch this Week: BTC, ETH, AAVE, QNT, RUNE: Key Insights: Bitcoin and ether looked at solid weekly gains as the top two crossed crucial support levels. Ether and Aave rallied on high social sentiment alongside renewed bullish momentum. Quant and THORChain’s RUNE also saw gains, but can they continue over the next week? Despite the recent short-term bullish momentum and BTC’s high daily gains, macro uncertainty still left investors skeptical of a true recovery. Nonetheless, the larger sentiment turned for the better over the last week despite a rise in US yields and Fed tightening bets on strong US jobs and service sector survey data. US tech stocks posted solid gains over the last week. The Nasdaq 100 ended the week with nearly 4.5% weekly gains. Of late, top cryptocurrencies like bitcoin have formed a higher correlation with tech stocks and indices. The last week, was relatively bullish for the traditional market as well as cryptocurrencies as BTC rebounded to as higher as $22,500. The total crypto market cap resumed its upward trend, but weekend blues pulled down BTC’s price and the global crypto market cap. Over the last few months, investors have constantly been concerned that the US and the global economy is weakening towards recession. Thus, market participants are steering clear of risky assets. For now, however, the recent bullish momentum fetched decent weekly gains for the top crypto and a few altcoins. The crucial question remains whether the recent gains are, in fact, a recovery of another fakeout. So, here are the top five cryptos to watch out for in this new week. Bitcoin (BTC) On July 7, BTC’s price broke above the crucial $21,400 mark, but bitcoin bulls could not keep up the bullish momentum above the higher $22,000 mark. Bitcoin’s price pullback from the $22,500 mark indicated that bears were still in control. On a daily chart, BTC’s price saw a green candle for six consecutive days alongside a rising relative strength index (RSI). A rising RSI indicates buying pressure rising in the market as buyers dominate the scene. Story continues Daily RSI highlighted that until July 8, buyers gained strength in the market, however, bears defended the $22,500 resistance with their might reversing the bullish momentum. This week, BTC’s trajectory could be crucial to watch as larger market gains would depend on the top coin’s track. Owing to the recent gains, many in the market believed that BTC’s price bottom was in, however, CryptoQuant analysts cautioned investors and traders to ‘be careful.’ Notably, the High Leverage Ratio shows that the crypto market is still moving by futures market. From the end of 2021, the Leverage Ratio rose for a certain period and then always fell sharply with the BTC price down. This situation kept happening until recent days. Furthermore, Funding Rates are near zero. Usually, when BTC reaches the bottom, the funding rate drops and rises sharply. That didn’t happen at the recent low of $17,600. Additionally, the analyst said, “We can’t ignore about possibility for Recession from Liquidity supply perspective. Even if BTC may rise a little more, we should also expect further BTC drop after that.” Ethereum (ETH) While the weekend saw decent profit-taking amid pre-macro event caution, ETH’s technicals presented a bullish scenario with the possibility of a breakout to as high as $1,700. FXEmpire analyst, Joel Frank, in a recent article , presented, “If Ethereum can muster a push above the $1,280 level, that would open the door for a swift rally towards its 50DMA around $1,440.” At the time of writing, the top altcoin traded at $1,163.22 vs USD noting a 4.26% loss on the daily chart. However, ETH’s last week was fruitful as the coin was up by 10.65% on its weekly chart. In the near term, if a push from bulls can place the coin above the $1200 mark, the same can ensure higher gains. Aave (AAVE) AAVE bulls led a recovery above the 50-day simple moving average just under the $80 mark on July 9. The rise in buying pressure indicated a likely change in trend. With RSI in the positive zone alongside AAVE’s 36.46% weekly gains, it was evident that bulls are attempting to gain the upper hand in the market. Over this week, the $85 and $93 mark could act as strong resistances for the token. A push from bulls above the said levels could point towards a solid recovery for the coin. Quant (QNT) Quant’s native token QNT saw some amusing gains over the last week as larger market momentum picked up. QNT’s bullish trajectory indicates that a bottom may be in place. After almost two months, a significant price uptick took the token above the $77 mark. As QNT bulls pushed their way, the coin’s price picked up, establishing above $76. Over this week, if bullish momentum continues, the next crucial price levels to watch will be the $89 and the $100 mark. THORChain (RUNE) RUNE traded at $2.27 at press time, with a 4.64% loss on the daily price window. However, the token was in the top 5 weekly gainers of the last week. As the week closed, the coin presented 25.94% weekly gains at press time. The altcoin’s price presented a tight range bound movement between the $1.77 and $2.40 mark since June 12. A move above the $2.50 resistance in the short term could help the coin regain market momentum. A rise in RSI presenting a higher buying pressure could indicate a change in trend over this week. This article was originally posted on FX Empire More From FXEMPIRE: U.S. Senate majority leader Schumer tests positive for COVID-19 NASA to showcase Webb space telescope’s first full-color images Yosemite wildfire smoke chokes national park’s views and air quality Bitcoin More Likely to Crash to $10K Than Hit $30K: Market Survey Oil mixed as market weighs tight supply against recession jitters US Mortgage Rates Hit Reverse Ahead of US Inflation Figures || GLOBAL MARKETS-European stocks fall as weak economic data hits sentiment: * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
LONDON, Aug 19 (Reuters) - European stock indexes fell on Friday after German producer prices saw their biggest rise on record, while the dollar hit a one-month high as investors stayed cautious.
Asian stocks had struggled to find direction, with concerns about the health of China's economy weighing on sentiment, and by 0820 GMT, the MSCI world equity index, which tracks shares in 47 countries, was down 0.3% on the day.
In Europe, German producer prices - which are seen as a leading indicator for inflation - saw their highest ever increases in July, data released early in the session showed, as energy costs continued to surge. Energy prices were up 105% compared with July 2021, mainly due to higher prices for natural gas and electricity.
Natural gas prices had hit a record closing high on Thursday . Germany's finance ministry said on Friday that the economic outlook for Germany is gloomy.
Europe's STOXX 600 was down 0.4% on the day, on track for a 0.4% weekly decline too.
German bond yields rose, with the 10-year yield gaining as much as 8 basis points to 1.184%, a four-week high, as the producer price data was seen as reinforcing fears of "stagflation" - a combination of high inflation and low growth.
Meanwhile, UK consumer sentiment hit its lowest since at least 1974 in August, with households feeling "a sense of exasperation" about the rising cost of living.
British retail sales data for July came in higher than expected, driven by a surge in online spending, but volumes are expected to resume their decline as costs rise.
The Bank of England has warned that high inflation is likely to tip Britain into a recession later this year.
"When market participants start to return from their holidays and look back at the past days and weeks, they will find central banks still far from having achieved their goals of reining in inflation," ING rates strategists said in a note to clients.
"That means a continued tussle between central bank tightening expectations and recession fears."
The threat of higher borrowing costs also hung over markets as no less than four U.S. Federal Reserve officials signalled there was more work to do on interest rates, with the only difference being on how fast and high to go.
The U.S. dollar benefitted from the Fed's hawkish comments, hitting a one-month high. The dollar index was up 0.2% at 107.7 and the euro was trading at $1.008. The euro has lost 1.7% versus the dollar so far this week.
The dollar also rose versus the Japanese yen, with the pair up 0.5% at 136.54.
The 10-year U.S. Treasury yield climbed higher, close to a one-month high at 2.9317%.
Oil prices slipped after two days of gains, set for a weekly drop as traders worried about a global economic slowdown.
Bitcoin dropped sharply and hit a three-week low of $21,404.
Next week, investors will be paying close attention to the minutes from the European Central Banks' July meeting, as well as comments by U.S. Federal Reserve Chair Jerome Powell when he addresses the annual global central banking conference in Jackson Hole on Aug. 26.
UK and euro area "flash" PMI data is due on Aug. 23.
(Reporting by Elizabeth Howcroft; Editing by Jacqueline Wong) || Ethan Lou: Consolidation putting crypto sector on Competition Bureau's radar: no0727Matthew-Boswell These days, it isnt just the proposed merger of Rogers Communications Inc. and Shaw Communications Inc. that has the attention of the Competition Bureau. Canadas antitrust watchdog is looking at the cryptocurrency world, too a sign of both the increasing relevancy of that space and of the more active posture of the bureau under new leadership. In March, WonderFi Technologies Inc., a Vancouver-based crypto outfit backed by Shark Tank star Kevin OLeary, closed on its $206 million acquisition of the exchange Bitbuy. Just a month later, WonderFI announced that it had entered into an agreement to buy Coinberry, another trading platform, in a $38.5 million deal. So, the Competition Bureau came knocking. The watchdog chose not to oppose the Coinberry acquisition, which closed in July, but according to WonderFi spokesman Binu Koshy, it was the first time the bureau had reviewed a crypto deal. WonderFi was also notified that every future acquisition would require such a review, Koshy said in an email. A Competition Bureau spokeswoman, Camilla Corrigan, said in a statement that the watchdog must be given notice for deals above a certain size: $92 million for companies being bought or $400 million for the parties combined, either in terms of valuation or the firms domestic revenue. Apparently, with all the companies it has been buying, WonderFi crossed some sort of threshold. Koshy acknowledged the company and the watchdog might have competing interests. Those two deals would make WonderFi the owner of two of eight of the regulated crypto exchanges in Canada one quarter. And WonderFi has said it is not done. Its chief executive, Ben Samaroo, said in April he still probably needs one more big Canadian platform to roll into WonderFi, so that the company can obtain more than 50 per cent market share. Competition Bureau is focused on keeping industries competitive, Koshy said. WonderFi is focused on consolidation. But there is also lot with which the two seem to see eye to eye. Crypto trading platforms function like banks and stock exchanges big players in their world. And research from June from Toronto-Dominion Bank says that crypto increasingly affects the mainstream financial markets. In the view of WonderFis leadership, regulated crypto platforms are akin to strategic national Canadian assets, like telecoms, Koshy said. The Competition Bureau might have reason to share that view, at least in part. After sitting on the sidelines through most of the Big Tech era and now trying to assert itself in the telecom space, it would not be a surprise at all if the watchdog was keen to head off any oligopolistic leanings in an industry still in its formative stages. Story continues WonderFi, however, suggested that the Competition Bureau should focus its energy elsewhere. It pointed a finger at competitors yet another merger in the world of Canadian crypto exchanges, with the Bahamas-based FTX announcing in June it would buy Calgarys Bitvo for an undisclosed sum. Koshy said the Competition Bureau should be looking at precisely such cases foreign players who are buying up Canadian crypto companies. The bureaus Corrigan declined to comment on any proposed merger by FTX but also said that any issues can only be determined following a thorough and complete review. The bureaus current commissioner, Matthew Boswell , is a former Crown prosecutor and was appointed to his current position in 2019. He has said that he sees Canadas competition laws as weak and outdated. Crypto banks are a weak link, but regulating them may be easier said than done CSIS officials warned about Russias potential use of blockchain to skirt sanctions, documents show Ethan Lou: A Hamilton teen genius hacked millions in crypto but he may not be in the wrong Under Boswell, the Competition Bureau, which has never won a merger challenge before, picked the high-profile fight in May in opposing a $26-billion deal between the telcos Rogers and Shaw. Consolidation precisely what the bureau does not like has also been running wild in the crypto world. According to a PricewaterhouseCoopers report , the value of mergers and acquisitions in the industry globally went up nearly 5,000 per cent in 2021 to reach US$5.5 billion. In Canada, the burden of regulatory compliance is set to grow as firms face greater pressure to police the realm, co-operate with authorities and de-risk in the face of recent market meltdowns. Smaller firms unable to deal with all of that might be looking at buyers. And all over the world, amid the current crash, more successful crypto companies are trying to bail out the underperforming ones essentially buying distressed assets on the cheap. Already, FTX has made an offer to buy the assets of the bankrupt Voyager Digital Ltd., listed on the Toronto Stock Exchange. The will always be the question of whether the Competition Bureau has the expertise needed to decide who should go it alone and who should be taken over. But as the crypto world keeps getting smaller, the WonderFi-Coinberry deal likely wont be the last time the bureau enters the fray. Ethan Lou is a journalist and author of Once a Bitcoin Miner: Scandal and Turmoil in the Cryptocurrency Wild West . View comments || The Pain in Affirm Stock Will Continue: Down another 30% in the month of June, the unraveling of buy now, pay later companyAffirm(NASDAQ:AFRM) continues. Things were looking up for Affirm stock in May.AFRM stock rose 30%immediately after the company issued fiscal third quarter financial results that beat Wall Street forecasts.
But sadly, the rally was short-lived and Affirm continued to trend lower throughout June. The stock is down 77% year-to-date. Affirm Holdings is being hit by both a stock market that continues to trend lower, and increasingly negative sentiment toward the entire “buy now, pay later” market.
AFRM stock’s recovery is not guaranteed.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"Ticker": "AFRM", "Company": "Affirm", "Recent Price": "$21.39"}]
Despite its deteriorating share price, Affirm Holdings managed to deliver fiscal Q3 results in May that bothsurprised and impressedanalysts. The company, led by Max Levchin, who previously co-foundedPayPal(NASDAQ:PYPL), announced that its revenue grew 54% in its most recent quarter from a year earlier, and that the number of active merchants on its platform increased to 207,000 from 12,000 a year earlier. The number of active consumers using Affirm rose 137% to 12.7 million.
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The company attributed its better-than-expected results to higher interest income and strong loan volumes. And while the earnings were stellar, Affirm Holdings also raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion previously. Theupward revisionalso made analysts and investors take notice. As mentioned, AFRM stock popped 30% the day after the company made its earnings and guidance public.
While Affirm Holdings’ most recent results were a confidence booster, the long-term outlook for the company is less assured. Several storm clouds are forming that threaten to further rain on the company and its business model that focuses on loans to primarily younger consumers. These include rising interest rates that could make its loans more expensive and lead to a greater number of defaults, a continued lack of profitability and high cash burn rate,increased criticismof the entire buy now, pay later sector and rising competition, notably from technology giantApple(NASDAQ:AAPL).
Apple’s entryinto the buy now, pay later space is the gorilla in the room presently. The iPhone maker announced in June that it is launching “Apple Pay Later,” a new service that will enable U.S. consumers to break the cost of a purchase into four equal payments over a six-week period without incurring any interest or fees. It’s a business model eerily similar to Affirm’s and a direct competitive threat. Apple Pay Later is scheduled to launch in September of this year and offers many advantages that could give it an edge.
Because Apple Pay Later will be integrated directly with Apple Pay and Apple Wallet, it won’t require a third party to facilitate transactions. Also, Apple is able to easily fund its buy now, pay later loans using its $51.5 billion cash war chest. These facts alone could help vault Apple to the front of the buy now, pay later space this fall. If Apple’s emergence in the $120 billion buy now, pay later market weren’t bad enough, the U.S. Consumer Financial Protection Bureau is in the middle of aninquiry into buy now, pay laterover accusations of predatory lending practices that are putting people deep into debt.
Sadly, Affirm Holdings’ most recent earnings print has been overshadowed by a run of bad news, the worst being that Apple is about to muscle in on its turf. This, along with the other negative factors, continue to push the company’s share price lower. How far the stock ultimately drops is anyone’s guess. But given that it hasfallen more than 77%already this year, investors should wait on the sidelines and watch for signs of a bottom before taking a position in Affirm.
Right now, AFRM stock isnota buy.
On the date of publication, Joel Bagloleheld a long position in AAPL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postThe Pain in Affirm Stock Will Continueappeared first onInvestorPlace. || Bitcoin hashrate slumps to lowest in over five months amid 100-degree-plus weather in Texas: Bitcoin’s hashrate dropped by more than 27% in 24 hours to 159.41 exahashes per second (EH/s) on Wednesday, the lowest since February this year, according to data fromBTC.com.
See related article:Bitcoin miners in Texas halt operations amid heat wave
• Multiple crypto miners in Texas, a mining hub in the U.S., have stopped operations as the demand for power surges amid a searing heat wave.
• The Electric Reliability Council of Texas (ERCOT) is appealing to homes and businesses to limit peak-time consumption as temperatures surge above 100 degrees in most of the state’s major cities.
• Bitcoin’smining difficulty, an indicator of how hard a miner would have to work to verify transactions in the blockchain to mine a Bitcoin, was at 29.153 trillion on Wednesday, falling 3.7% from a month earlier.
• The level of computing power used per second for mining, otherwise known as the mining hashrate, is linked to adjustments in crypto mining difficulty.
• This comes as Bitcoin hovers around the US$20,000 mark, trading up 3.4% over the past 24 hours to US$20,144.56 in afternoon trading in Asia,according to CoinGecko.
See related article:Will Mt. Gox Bitcoin eruption smother hopes of rapid crypto recovery? || 7 Psychedelics Stocks to Buy for a Big Drug Boom: Psychedelics stocks are becoming increasingly mainstream, in part due to changing social attitudes. Psychedelic drugs are a loosely grouped class of drugs that are able to induce altered thoughts and sensory perceptions. Recent medical research highlights that the use of psychedelics can have positive effects on anxiety, depression, and existential distress with little side effects. On Jan. 1, 2023, Oregon will become the first state to allow psychotherapists to treat their patients with psilocybin . Psilocybin, otherwise known as magic mushrooms, occurs in nature and is often consumed for its hallucinogenic effects. It has also received strong tailwinds from the U.S. Food and Drug Administration (FDA), which designated psilocybin therapy as a breakthrough therapy . Other states are likely to follow Oregons lead in terms of legalization. Meanwhile, investors are wondering whether a market for legal psychedelics might emerge in the near future. InvestorPlace - Stock Market News, Stock Advice & Trading Tips A report from Data Bridge Market Research estimates that the global psychedelic drugs market will reach $6.4 billion by 2029. Such an expansion would mean a compounded annual growth rate (CAGR) of well over 13% between 2022 and 2029. With that information, here are the seven best psychedelics stocks that boast explosive growth potential in this nascent industry. PSIL AdvisorShares Psychedelics ETF $3.88 ATAI Atai Life Sciences $4.28 CMPS Compass Pathways $15.19 CYBN Cybin $1.02 ENVB Enveric Biosciences $5.49 GHRS GH Research $14.90 MNMD MindMed $11.65 AdvisorShares Psychedelics ETF (PSIL) An image of a scientist holding mushrooms in forceps, mushrooms in a lab dish Source: 24K-Production/Shutterstock 52-week range: $2.50 $10.70 Expense ratio: 0.68% per year Selecting a single psychedelics stock to invest in may sound risky for most investors, given how young the industry is. Instead, they could consider buying an exchange-traded fund (ETF) to profit from the growth of this nascent segment. Story continues The AdvisorShares Psychedelics ETF (NYSEARCA: PSIL ) is an actively managed fund that offers exposure to the psychedelic drugs sector. This ETF primarily focuses on biotechnology, pharmaceutical and life sciences companies that generate most of their net revenue or allocate most of their assets to psychedelic compounds other than cannabis. PSIL started trading in September 2021. The top 10 stocks in the fund account for more than 65% of the $10 million in total net assets. The leading names on the roster include Cybin (NYSE: CYBN ), Compass Pathways (NASDAQ: CMPS ), Atai Life Sciences (NASDAQ: ATAI ) and MindMed (NASDAQ: MNMD ). So far this year, PSIL has lost about a third of its value. Its price-to-book (P/B) ratio currently stands at 1.2x. Atai Life Sciences (ATAI) psychedelic stocks Source: luckakcul / Shutterstock.com 52-week range: $2.95 $17.90 Atai Life Sciences (NASDAQ: ATAI ) focuses on therapeutics to treat mental health issues, such as anxiety, depression or addiction. This clinical-stage biopharma company went public in June 2021. With significant support from venture capitalist Peter Thiel, Atai currently ranks as the largest psychedelics stock in the industry. The psychedelic pure-play reported Q2 results on Aug. 25. The company does not yet generate revenue. Net loss per diluted share came in at 24 cents as compared to 37 cents in the prior-year period. Cash, equivalents and short-term investments ended the period at $312.5 million. Atai Life Sciences boasts numerous programs in various phases of the clinical trial process. For instance, RL-007 is a promising candidate, currently evaluated in a Phase 2 clinical trial for the treatment of schizophrenia. The company also partnered with Japanese Otsuka (OTCMKTS: OSUKF ) to develop R-ketamine for treatment-resistant depression. This is a significant collaboration between a psychedelic-focused biotech and an established pharma company. ATAI stock is down 44% year-to-date (YTD), despite a 10% increase over the past month. Shares are changing hands at 2.4x book value. Wall Streets 12-month median price forecast for ATAI stock stands at $24.50 . Compass Pathways (CMPS) magic mushrooms representing champion brands, and OTC stocks Source: Shutterstock 52-week range: $6.54 $49.51 U.K.-based Compass Pathways (NASDAQ: CMPS ) is a mental healthcare company focused on the therapeutic applications of psilocybin, the active ingredient in psychedelic mushrooms. The company specializes in caring for treatment-resistant forms of various mental health disorders such as depression, post-traumatic stress disorder (PTSD) and anorexia nervosa. The company also provides a therapist training program for researchers studying psilocybin. In early August, Compass reported Q2 financials . Net loss for this pre-revenue company was $21 million, compared to $17.5 million the previous year. Diluted loss per share was 50 cents, compared to 44 cents the year before. Cash and equivalents totaled $207.2 million. Recently, the company launched a Phase 2 clinical trial of its psilocybin therapy for patients with anorexia. The trial will study the effectiveness of a combination of traditional therapy and psilocybin for 60 patients across four research facilities. CMPS stock is down 30% YTD. Shares are trading at 3.3x book value . Analysts 12-month median forecast stands at $63 . Cybin (CYBN) psychedelic styling Source: local_doctor / Shutterstock.com 52-week range: 39 cents $2.88 Canadian pharmaceutical company Cybin (NYSEMKT: CYBN ) went public in August 2021. It is developing a pipeline of psychedelic drugs to treat diverse mental health issues, including depression, anxiety and addiction. Cybin announced Q1 financials on Aug. 8. The company does not yet generate revenue. Cash-based operating expenses totaled 11.2 million CAD. Non-cash expenses totaled 1.9 million CAD for a net loss of 13.1 million CAD. Cash and equivalents ended the period at 42.5 million CAD. The pharmaceutical company has three active programs undergoing clinical trials, along with more than 15 patents focused on novel psychedelic compounds, delivery mechanisms and supportive treatment platforms. Cybin has two psilocybin drugs in the pipeline to treat major depressive disorder and alcohol use disorder. CYB003 is the first novel psilocybin analog to be evaluated in a Phase 1/2a trial for the treatment of major depressive disorder. In May 2021, the company also gained approval to launch Phase 2 trials of CYB001 for depression. CYBN stock has jumped 70% over the past month. Yet, it is still down almost 16% YTD. Shares are trading at 2.8x book value. Wall Streets 12-month median price forecast for CYBN stock stands at $ 6 .50 . Enveric Biosciences (ENVB) a scientist with protective equipment and microscope in a lab, OBSV stock Source: luchschenF / Shutterstock.com 52-week range: $5.29 $187.00 Enveric Biosciences (NASDAQ: ENVB ) specializes in the chemical modification of psychedelics for the treatment of a variety of ailments. The biotech play maintains a database of modified molecules known as the Psybrary. Additionally, its artificial intelligence tool, PsyAI, narrows down the enormous number of possible compound variations to those likely to be most effect to treat certain conditions. In mid-August, Enveric reported Q2 earnings . Net loss was $2.8 million, compared to $908,000 the year before. Diluted net loss per share was $2.73, compared to $2.13 the prior year. Cash totaled $18 million. Recently, the company announced the formation of a scientific advisory board comprised of experts in the central nervous system and mental disorders. This board will advise the company on its technological capabilities, research pipeline, candidate prioritization and emerging trends in neuroscience and technology. So far in 2022, ENVB stock has lost around 88% of its value, hovering around 52-week lows. Its price-to-sales (P/S) ratio is at 1.26x . GH Research (GHRS) 5 Strong Buy Stocks Under $5 With Massive Upside Potential Source: Shutterstock 52-week range: $8.72 $30.43 GH Research (NASDAQ: GHRS ) is a clinical-stage biopharmaceutical company working on new treatments for psychiatric and neurological illnesses. Management released Q2 results on Aug. 23. Since the biotech play is in the pre-clinical trial stages of its development medicine, no revenues are reported yet. Earnings per share ( EPS ) came in at $0.006 cents compared to a loss of 5.3 cents per share for the year ago quarter. The change occurred due to currency gains. The current cash position is $265.4 million, which will support the company into 2025, as reported by the management. The psychedelic play is planning the investigational new drug (IND) application for its lead candidate GH001 product with the FDA. If successful, it would be used for treatment resistant depression (TRD). GHRS is down about 36% year-to-date (YTD) and 30% over a 12-month period. The 12-month price forecast for GHRS stands at $45.50 . MindMed (MNMD) Dried psilocybe cubensis psilocybin magic mushrooms inside and around a plastic prescription medicine bottle with no lid isolated on white background, Mind Medicine is in the psychedelic medicine business Source: Daniel Patrick Martin / Shutterstock.com 52-week range: $7.95 $44.55 Our final stock, MindMed (NASDAQ: MNMD ) , is another clinical-stage biopharmaceutical company. Its primary focus is psychiatry, addiction, pain and neurology. Mind Medicine announced Q2 results o n Aug. 11. Net loss came in at $17.1 million, compared to $44.5 million for the same period last year. The cash balance was $105.7 million. Management believes that the cash is sufficient for operations through 2023 and into 2024. On Aug. 25, MindMed announced the first patient dosing in its Phase 2b dose-optimization trial of MM-120. The pharmaceutical substance is an optimized form of lysergic acid diethylamide (LSD), to be used for the treatment of generalized anxiety disorder (GAD). MNMD stock is down about 40% YTD and 71% for the last 52 weeks. Wall Streets 12-month median price forecast for MindMed stands at $46.88 . On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks How to Profit Without Getting Scammed On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post 7 Psychedelics Stocks to Buy for a Big Drug Boom appeared first on InvestorPlace . || Ethereum is at a crossroads and needs to start delivering on its revolutionary potential: Ethereum Blockchain And Cryptocurrency Devotees Gather In Denver For ETHDenver Conference The year was 2019. I went to Torontos Rebel nightclub for the Futurist cryptocurrency conference. It was a bear market at the time, and crypto prices were falling. People were talking about how Ethereum , the big-name blockchain platform, was moving to a proof-of-stake mining algorithm, a major developmental milestone. On Wednesday, I went to the same venue for the same conference, which was held in-person for the first time since 2019. Yet again, crypto was in a bear market and surprise, surprise Ethereum was still moving to proof-of-stake. Ah, the great rhyme of history. Adding a poetic twist, this time the events keynote speaker was none other than the principal Ethereum co-founder, Vitalik Buterin . Toronto is both Buterins hometown and the place where the billion-dollar network was initially developed. On Thursday, Buterin was back at ground zero, speaking about a project that some critics say, despite its enormous valuation, has barely left the ground. Ethereum is arguably the biggest thing in crypto after bitcoin. Even if you havent heard of it, youve probably heard of all the things that run on it, such as NFTs (non-fungible tokens), the really expensive digital pictures. Launched in 2014, Ethereum is a sort of base-layer infrastructure on which anyone can build blockchain-based games and apps, peer-to-peer financial instruments and even entire currencies. The network aims to use bitcoins decentralized principles to build the next Internet, in which Big Tech does not hold power over users. Web3. Yay. In February, one estimate put the total value of all the applications and assets on it at US$585 billion if it were a publicly traded company, it would have been among the 10 most valuable in the world. But what has Ethereum actually done? Buterin had asked the crypto world a similar question during the 2017 bitcoin boom, when the value of all cryptocurrencies crossed the half-trillion mark. Buterin tweeted: So total cryptocoin market cap just hit $0.5T today. But have we *earned* it?
Story continues How many dapps (decentralized applications) have we created that have substantial usage. How much value is stored in smart contracts (a core Ethereum component) that actually do anything interesting
. How many Venezuelans have actually been protected by us from hyperinflation? A physical representation of ethereum. On Wednesday, the crowd cheered as Buterin gave updates on Ethereums move to proof-of-stake, which is scheduled to be completed around the middle of September. And people laughed when Buterin acknowledged the weird directions in which Ethereum has led crypto. We have billions of people with crypto wallets.
Why? Well, because they want to trade monkey pictures, he said. You have these really kind of deep and philosophical arguments in trying to get people on board with crypto, Buterin said. But theres also, Hey, look, its a monkey! Guess which one works better? NFT transactions have routinely clogged Ethereums network, slowing down some aspects of it. Ethereums move toward proof-of-stake, considered not only more environmentally friendly but also a way to let the network scale up and handle more activity, has been talked about for years but been put off by delay after delay. The move has been so troubled that critics have talked about essentially creating another Ethereum that preserves the status quo, harkening back to a 2015 event in which the network split in two after developers controversially undid some transactions. That proof-of-stake move had also resulted in the establishment of a new crypto market, in which coins could be locked onto the future Ethereum network to earn the equivalent of interest, and their derivatives can be traded on the current one. The now-bankrupt crypto lender Celsius had heavily participated in that whole game, leading some observers to say that the delays to the move bore some responsibility for the recent crypto meltdown. Meanwhile, crypto games such as Axie Infinity have ended up with the emphasis on crypto rather than the game. Critics have called them repetitive and boring, and with in-game objects having value outside it, users have been going through the motions of the games to make money rather than because they actually like playing. And two days before Buterin spoke, the U.S. government applied unprecedented sanctions on Tornado Cash , a decentralized application on Ethereum that obscures transactions, often for illegal means. Ethan Lou: Consolidation putting crypto sector on Competition Bureaus radar Crypto banks are a weak link, but regulating them may be easier said than done Ethan Lou: A Hamilton teen genius hacked millions in crypto but he may not be in the wrong Ethan Lou: Why a central bank digital currency could be an inflation-fighters best friend So, what has Ethereum actually done? The sanction on Tornado Cash makes for an uncomfortable answer, and has wider implications. When a dapp can be sanctioned by governments just like anything else, how revolutionary can decentralized finance, or DeFi, really be? Five years after Buterin had asked whether the crypto world had earned the money that was sloshing about, that question, too, remains no less relevant. In an era of increasing Big Tech dominance, Ethereum represents a vision and promise that is badly needed. But for how much longer will Ethereum be hailed simply for its potential? Ethan Lou is a journalist and author of Once a Bitcoin Miner: Scandal and Turmoil in the Cryptocurrency Wild West .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 20049.76, 20127.14, 19969.77, 19832.09, 19986.71, 19812.37, 18837.67, 19290.32, 19329.83, 21381.15
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
United Airlines' Hawaii Growth Could Lead to More Pain Down the Road: On Wednesday, No. 3 U.S. airline United Continental (NYSE: UAL) significantly expanded its presence in the Hawaiian market. It will operate as many as 11 extra daily roundtrips from the mainland to Hawaii, following through on a plan announced back in June . Most of these flights connect Los Angeles and San Francisco to secondary destinations within Hawaii. In the short run, this may be a profitable move. Demand for travel to Hawaii has been strong recently, while seat supply has been roughly flat during 2017. A United Airlines jet on a runway United Airlines recently added more flights to Hawaii. Image source: United Airlines. However, the good times may not last long. Other airlines, including Alaska Air (NYSE: ALK) and Hawaiian Holdings (NASDAQ: HA) , also plan to grow in Hawaii's secondary markets. Furthermore, Southwest Airlines (NYSE: LUV) is gearing up to begin flights to Hawaii in late 2018 or 2019. This rebound in competition could undermine United's profitability in Hawaii. Hawaii is an attractive market While much of the domestic air travel market has suffered from overcapacity during the past two years, this ultra-competitive environment didn't extend to mainland-Hawaii routes. In 2016, the number of air seats to Hawaii from the rest of the U.S. increased just 1.1%. During the first 10 months of 2017, seat growth was even slower. This has contributed to solid unit revenue trends for flights to Hawaii. Hawaiian Airlines' recent unit revenue results highlight the strength of this market. Revenue per available seat mile (RASM) increased 2% at Hawaiian in 2016. Through the first three quarters of 2017, the carrier's RASM has surged 7.4%. In both years, Hawaiian Airlines' routes to the mainland have been the biggest driver of this RASM growth. While other airlines' unit revenue trends in Hawaii probably haven't been quite as impressive, there's clearly plenty of demand to support capacity additions. A Hawaiian Airlines A321neo on the tarmac Hawaiian Airlines has posted strong RASM growth in 2016 and 2017. Image source: Hawaiian Airlines. Story continues United Continental has been facing unit revenue pressure across much of its route network lately. Thus, it's understandable that the idea of growing in Hawaii seemed attractive to management. Competition is rising in Hawaii's secondary markets Unfortunately for United, it isn't the only airline looking to cash in on strong demand for Hawaii travel. Just last week, Alaska Air subsidiary Virgin America began flying from San Francisco to Kona, giving United Airlines its first nonstop competition on that route. This is one of the routes where United is adding flights starting this week. As Alaska Air solidifies its market position in California and grows its frequent flyer base there, it will probably add more flights to Hawaii from San Francisco and Los Angeles. That will inject even more competition in the markets where United is currently expanding. Hawaiian Airlines has even bigger ambitions. Until recently, it has routed the vast majority of its flights through Honolulu, because all of its long-haul planes were widebodies with more than 250 seats. However, it recently began adding the state-of-the art 189-seat A321neo to its fleet. Hawaiian has already announced four new routes from the West Coast to secondary destinations in Hawaii. It is also using its fleet growth to add flights from Los Angeles and San Francisco to Hawaii, in direct competition with United Airlines. It is likely to continue adding new West Coast-Hawaii routes at a steady pace for the next few years. The arrival of Southwest Airlines could force United to retrench While the growth of Alaska and Hawaiian will put some pressure on United, neither of those carriers is likely to carry much connecting traffic to Hawaii. By contrast, legacy carriers like United rely primarily on connecting traffic to keep their planes full. However, Southwest Airlines could scoop up some of this connecting traffic when it starts flying to Hawaii. As a result, while airline pundits have mainly focused on how Southwest's entry into the market will impact Hawaiian Airlines , United Continental's Hawaii flights could be more at risk of cannibalization. To be sure, Southwest doesn't fly to as many cities as United. But from Oakland, Los Angeles, and San Diego -- its three most logical gateway cities for Hawaii service -- Southwest Airlines flies nonstop to midsize cities like Albuquerque, Boise, Reno, Spokane, and Tucson. Southwest's low cost structure will allow it to undercut United on fares for connecting itineraries from these cities to Hawaii. Even if United can retain a strong share of the market for travel from very small cities to Hawaii, that's not a big enough demand pool to support its expanded mainland-Hawaii schedule. Instead, it will be forced to fight tooth and nail for customers with rivals that offer better service and have lower cost structures. That hardly sounds like a recipe for long-term success. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of Alaska Air Group and Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || OnePlus 6 rumored to have a feature that even the iPhone X couldn’t pull off: The OnePlus 5T saw record launch sales, OnePlus revealed a few weeks ago, although there were plenty of OnePlus 5 buyers unhappy that they purchased the wrong OnePlus flagship this year. The “T” model came out only a few months after the OnePlus 5, sporting a much better design, as well as a neat iPhone X-like trick. The same thing might happen to OnePlus 5T buyers if the following rumor pans out. Apparently, the OnePlus 6 launch may be just around the corner, and the phone will sport both a better design and improved hardware. Don't Miss : Your cable company is going to be so angry when you get this $40 box The other day, we heard the OnePlus 6 will copy the iPhone X’s iconic Face ID feature , without also copying the notch. Now, a new report from GizmoChina claims that the OnePlus 6 will also have a fingerprint sensor under the display. A few days ago, Synaptics revealed that it is ready to provide smartphone makers such sensors, with Chinese maker Vivo set to debut the first phone with a fingerprint sensor beneath the screen. If GizmoChina’s report is accurate, it’s likely Synaptics would provide the same part to OnePlus as well. The report goes on to say that the OnePlus 6 could be unveiled in March, and launch in stores by the end of the month. That’s the part OnePlus 5T buyers might hate. But then again, if you keep postponing a smartphone purchase just because the next best thing is coming along soon, you’ll end up never buying anything. That said, a March launch of a OnePlus flagship handset makes sense, if a second one comes along a few months later. That’s what Samsung does with its Galaxy S and Galaxy Note lines, and that’s something OnePlus could consider aping as it continues to make its mark on the Android market. Finally, GizmoChina says the OnePlus 6 will be powered by Qualcomm’s Snapdragon 845 chip. That’s hardly a surprise. Regardless of when the phone will actually launch, it’ll surely pack the best Qualcomm chip available. Story continues BGR Top Deals: Your cable company is going to be so angry when you get this $40 box At $60, the mini espresso machine that can fit on any counter can also fit in any budget Trending Right Now: Bitcoin is going crazy again Sprint is the worst carrier money can buy, Consumer Reports says How to check if Apple is slowing your old iPhone See the original version of this article on BGR.com || Here's Why I Save for Retirement With a Traditional IRA: Don't get me wrong. There are plenty of advantages to socking away money in a Roth IRA. My fellow Fool Michael Douglass recently made agreat argumentfor why he's a fan of those plans. Roth IRAs are a good fit for Michael, but our situations are different. So, while he (and many others) prefer Roth IRAs for their savings, I prefer using a traditional IRA. Here's why.
It's tempting to extrapolate our current income into the future and assume the best, but the reality is that most of us will pay a lower tax rate in retirement than we do now.
IMAGE SOURCE: GETTY IMAGES.
In my case, even if I retire with a $1 million nest egg, I'll only be withdrawing about $40,000 per year in retirement, assuming I stick to the4% rule. If I don't need the money sooner, then I'll only be forced to take about $36,000 out of my traditional IRA when required minimum distributions kick in beginning at age 70.
Admittedly, I have no idea what tax rates will be in the future, but I'm betting that the income tax rates on those relatively small withdrawal amounts will be lower than the tax rate I'm paying now.
After thepassage of tax reformthis month, I expect to be in the 22% tax bracket next year. For comparison, if I were retiring next year and withdrawing $40,000, my tax rate would be 12%. For this reason, I'd rather have the tax break associated with making pre-tax contributions to a tax-deductible IRA now than the tax break associated with making post-tax contributions to a Roth IRA later.
IMAGE SOURCE: GETTY IMAGES.
Because traditional IRAs are funded with pre-tax dollars, I get tax savings up front that I can invest or use to avoid high-interest credit card debt, and thanks to compound interest, those are substantial benefits over time.
In 2018, the contribution limit for a regular traditional IRA is $5,500, or $6,500, for those age 50 and up. So, if I contribute $5,500 to a traditional IRA in 2018, it would produce a $1,210 tax savings for me, based on my 22% marginal tax rate. If I did that every year for 20 years and invested my savings in a low-costS&P 500ETF that earns a hypothetical 7% annually, I'll have increased my nest egg by about $50,000.
In my situation, though, my savings will be bigger than that because I've established a SEP IRA. SEP IRAs are atype of traditional IRAthat small businesses (and independent financial writers like me) can use to save more money and claim a bigger tax deduction. In 2018, I cancontributethe lesser of 25% of income or $55,000 per year to my SEP IRA.
Overall, my preference for tax-deferred retirement savings stems from my belief in the time value of money. I'm simply convinced that money today is more valuable than money in the future.
IMAGE SOURCE: GETTY IMAGES.
I don't plan on touching my traditional IRA until retirement, but let's face it, life happens.
Fortunately, traditional IRAs aren't buried underground, locked away in a vault without a key. Yes, I'll pay income taxes on money I withdraw, plus a 10% penalty if I'm younger than 59 1/2 years old. But in a pinch, I can get my hands on this money.
In fact, the IRS has rules that make withdrawing money from a traditional IRA less painful than it might be otherwise.
For example, first-time homebuyers like my son can tap his traditional IRA for up to $10,000 without paying the 10% penalty. Importantly, if his home purchase falls through (or he wins the Lotto), he can replace any money he took out within 120 days and get a do-over on the withdrawal. Heck, if he's running a bit shy on his downpayment, the IRS even lets me tap my traditional IRA penalty-free to help him buy his first home.
The IRS also allows penalty-free withdrawals from traditional IRAs for tuition or when medical expenses eclipse 10% of income. It allows penalty-free withdrawals to pay health insurance premiums if I end up unemployed, too.
Furthermore, even if I withdraw money from my traditional IRA for some other reason, I can still reverse my withdrawal within 60 days and avoid the taxes and penalties. Again, I'll pay income taxes on this money, so withdrawing it would be a last resort, but it's an option.
I may prefer traditional IRAs, but that doesn't mean that a Roth IRA isn't the best option for you. There's a lot to like about Roth IRAs, especially in terms oflegacy planning. For instance, a stretch IRA can help make sure your loved ones are financially secure throughout their life after you're gone. Roth IRAs, however, do have income limits, so even if you prefer the idea of tax-free withdrawals in retirement, you might not be able to contribute to one. Currently, if you're married with adjusted gross incomegreater than $199,000, you're ineligible to contribute to a Roth IRA.
Overall, when it comes to the traditional IRA versus Roth IRA argument, there's no one-size-fits-all winner. You'll need to do your homework and then make the better-informed decision you can.
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The Motley Fool has adisclosure policy. || Bitcoin Gold DASH and Monero Price Analysis December 6, 2017, Technical Analysis: Bitcoin Goldrolled over during the trading session on Tuesday, reaching towards the $290 level. This area is rather supportive though, and extends down to the $280 handle. If we can break down below the $280 level, Bitcoin Gold should continue to be bearish and the short-term, but there is plenty of support below, especially near the $270 handle. Expect volatility, but we need to see a bullish break out in the Bitcoin market to transfer to buying pressure over here. Currently, looks as if the crypto currency space is a bit on hold. Although unfair, Bitcoin Gold seems to get lumped in with Bitcoin, especially by retail traders as they don’t understand the true difference between the 2 currencies. Because of this, there’s always a bit of a “knock on effect” from the larger Bitcoin market.
Get Into Dash Trading Today
DASH continuesto go sideways in general, offering the support needed at $725 underneath. The market should continue to be very choppy and perhaps consolidate between the $720 level underneath and the $800 level above. I think that the market continues to be very noisy and volatile, but in the end, I also believe that we will eventually find enough buyers to reach to the upside as cryptocurrencies, in general, are bullish. If we break down below the $725 level, I think we then go looking towards the $700 level. That level breaking down would be a very negative sign and send most buyers on the sidelines, looking for a bit of clarity and perhaps even safety in the market. I think that we are currently trying to build up enough momentum to move to the upside, giving us an opportunity to finally smashed through the $800 Barry above which has a course been so stubborn.
Monerohas been a bit of an outlier during the trading session on Tuesday, rocketing towards the $240 handle. Currently, I believe that short-term pullbacks are buying opportunities and we should see a significant amount of support near the $220 level. Beyond that, the $200 level underneath is the “floor” in the market, and while the rest of the cryptocurrency world has been a bit stagnant, Monero has bucked the trend, reaching towards all-time highs. I think that pullbacks are value propositions, and I have no interest whatsoever in trying to sell Monero in this type of momentum. After all, the US dollar has been strengthening a bit, and of course with tax reform coming it could continue to do so. At the same time, Monero seems to be ignoring this, and that’s a very bullish sign in general. My longer-term target is the $250 level, which of course has a certain amount of psychological importance based on it.
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Thisarticlewas originally posted on FX Empire
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• Merkel, May and Trump to influence the EUR, the GBP and the USD || Holding Strong: Failed Price Breakdown a Boon for Bitcoin Bulls?: Bitcoin has witnessed decent two-way business in the last 24 hours.
A drop below $8,000 during the Asian day was quickly undone and the world's largest cryptocurrency by market value once again approached record highs, hitting $8,333 this morning.
At press time, bitcoin is changing hands at $8,228, according to CoinDesk'sBitcoin Price Index.
As perCoinMarketCap, the bitcoin-U.S. dollar (BTC/USD) exchange rate has appreciated by 1.13 percent in the last 24 hours. Meanwhile, the total trading volume in the last 24 hours was $5 billion, the highest since Nov. 16.
The price action analysis indicates the failed breakdown below $8,000 may be costly for the bears.
The chart above shows:
• Failed breakdown: BTC witnessed a solid rebound from the upward sloping 50-MA and is back in the rising channel.
• The relative strength index (RSI) holds above 50.00 (bullish territory).
• The descending trend line seen on the chart above has been breached as well, suggesting there is scope for a rally.
The charts suggest a rally to new all-time highs around $8,600 (rising channel ceiling) is possible. The 10-day moving average (MA) is sloping upwards, suggesting dips below the same could be short-lived. Currently, the 10-day MA stands at $7,949 levels.
However, multiple 4-hour closes below $7,900 levels would warrant caution on the part of the bulls. In such a case, a deeper pullback to sub-$7,600 could be seen.
Spannerimage via Shutterstock
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• Bitcoin Price on Shaky Ground After 1,000% Gains || Bitcoin futures suggest breakneck rise in price to slow: By Saqib Iqbal Ahmed, Jemima Kelly and Gertrude Chavez-Dreyfuss NEW YORK/LONDON (Reuters) - Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency's blistering price gains to slow in the coming months, even as it blasted above $17,000 to a fresh record high in the spot market. Chicago-based derivatives exchange Cboe Global Markets launched the futures late on Sunday, marking the first time investors could get exposure to the bitcoin market via a large, regulated exchange. The one-month bitcoin contract <0#XBT:> opened at 6 p.m. local time (2300 GMT) on Sunday at $15,460. By late afternoon on Monday in New York, it was trading at $18,650, roughly 8 percent above bitcoin's spot price of $16,900 on the Bitstamp exchange. Bitcoin earlier hit a record high of $17,270. Its steep gains and rapid rise have attracted investors around the world as well as intense scrutiny from government regulators, which is the very opposite of what its creators wanted when it first launched bitcoin more than eight years ago. "The bitcoin founder should be horrified seeing it rise so quickly, as any serious focus on it and its recent explosive move higher will soon end its freedom," said John Taylor Jr, president and founder of research firm Taylor Global Vision in New York. Taylor believes that based on his charts, bitcoin has not yet peaked, but as soon as the "upmove ends, it will crash." Given bitcoin has almost tripled in value over the past month, and was up more than 15 percent on Monday alone, the futures pricing suggested investors see price increases moderating. Bitcoin futures were already offered on some unregulated cryptocurrency exchanges outside the United States, but backers said the U.S. market debut would confer greater legitimacy on the volatile cryptocurrency and encourage its wider use. The CME Group is expected to launch its futures contract on Dec. 17. Graphic - Bitcoin futures suggest growth, but slower: http://reut.rs/2yfblkV Story continues VOLATILITY CONCERNS Although there are hopes that the futures will draw in new investors, most fund managers at larger asset managers and institutional investors said bitcoin remains too volatile and lacks the fundamentals that give other assets value. "There's no place for bitcoin in a multi-asset portfolio given the very high volatility," said Robeco Chief Investment Officer Lukas Daalder. The two-month contract was trading at $18,750, an 11 percent premium over the spot price, while the three-month contract was changing hands at $18,140, a roughly 12 percent premium. While modest when compared with bitcoin's 270 percent increase over the past three months and 230 percent rise in the last two months, those levels still indicated a lack of large "short" positions betting against bitcoin. "Anyone, especially a professional trading outfit, would be crazy to actually short sell this bull market," said Nick Spanos, founder of Bitcoin Center NYC. "But just because it doesn't happen on day one doesn't mean it won't in the future." Bitcoin was up more than 1,600 percent so far in 2017, having started the year at less than $1,000. 'MARCH TOWARDS LEGITIMISATION' As of early afternoon trading in New York, 3,951 one-month contracts had changed hands, meaning around $73.1 million had been notionally traded. That compares with daily trading volumes of more than $21.5 billion across all cryptocurrencies, according to trade website Coinmarketcap. There had been speculation that the futures launch would trigger more gyrations in the market. But while volatile compared with traditional currencies or assets, the rise on Monday was relatively tame for bitcoin. Bitcoin surged more than 40 percent in 48 hours last week, before tumbling 20 percent in the following 10 hours. "(Bitcoin futures) will speed up the march towards legitimisation of an asset class that only a few years ago many law enforcement agencies would have argued had limited legitimate reasons for people to use," said Jo Torode, a financial crime lawyer at Ropes & Gray in London. The futures are cash-settled contracts, allowing investors exposure without having to hold any of the cryptocurrency. The futures are based on the auction price of bitcoin in U.S. dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs and brothers Cameron and Tyler Winklevoss. DRAMATIC GAINS Bitcoin was set up in 2008 by an individual or group calling themselves Satoshi Nakamoto, and was the first digital currency to successfully use cryptography to keep transactions secure and hidden, making traditional financial regulation difficult if not impossible. Central bankers and critics of the cryptocurrency have been ringing the alarm bells over its surge in price and other risks such as whether the opaque market can be used for money laundering. "It looks remarkably like a bubble forming to me," the Reserve Bank of New Zealand's Acting Governor Grant Spencer said on Sunday. Somebody who invested $1,000 in bitcoin at the start of 2013 would now be sitting on around $1.2 million. Heightened excitement ahead of the launch of the Cboe futures gave an extra kick to the cryptocurrency's scorching run this year. The launch has so far received a mixed reception from big U.S. banks and brokerages. Several online brokerages, including Charles Schwab Corp and TD Ameritrade Holding Corp, did not allow trading of the new futures immediately. The Financial Times reported on Friday that JPMorgan Chase & Co and Citigroup Inc would not immediately clear bitcoin trades for clients. Goldman Sachs Group Inc said on Thursday it was planning to clear such trades for certain clients. Graphic - Bitcoin's blistering ascent: http://tmsnrt.rs/2AeMjHe (Additional reporting by Chuck Mikolajczak and John McCrank in NEW YORK; Michelle Chen in HONG KONG and Helen Reid in LONDON; Graphics by Ritvik Carvalho in LONDON and Reuters Graphics team; Editing by Meredith Mazzilli) || Europe markets close lower after US Senate passes tax bill; Steinhoff falls 35%: European markets closed lower Wednesday afternoon as the long-awaited U.S. tax overhaul wound its way through Congress. The pan-European Stoxx 600 (STOXX: .STOXX) ended Wednesday's trade 0.68 percent lower, with most sectors and all major bourses in negative territory. Shares slumped in late afternoon trade, given that they were only marginally lower earlier in the day. Chemicals, health care, household goods and technology were all down over 1 percent. Plunging furthest in the household goods sector, Steinhoff International (: SHF-ZA) shares tanked once again. The scandal-hit South African retailer said Tuesday it would be unable to provide details regarding the magnitude of its accounting irregularities, with its shares ending the day's trade nearly 35 percent lower. Basic resources was among the few gainers, with almost all individual stocks in positive territory. Looking at individual companies, Stada (XETRA: SAZ-DE) soared to the top of the benchmark after the German drugmaker announced it had signed an agreement with Nidda Healthcare. Its shares closed over 8 percent higher.Meanwhile, Swiss airport retailer Dufry (Swiss Exchange: DUFN-CH) also traded near the top of the Stoxx 600 throughout the day, after U.S. hedge fund manager and investor Paul Singer built a 5.57 percent voting stake in the company, Reuters reported. Dufry's shares closed over 2.5 percent higher. Signature tax overhaul Stateside, U.S. stocks opened higher on investor confidence surrounding the passing of a tax overhaul through Congress, as well as stronger-than-expected corporate earnings. By lunchtime, they were trading little changed. The U.S. Senate comfortably approved sweeping tax legislation on Wednesday, allowing President Donald Trump to move a step closer to claiming his first major legislative victory. The tax bill will now go back to the House for a final vote later in the session.More From CNBC
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• Stocks trade little changed with Congress set to push tax bill over finish line || Bitcoin rises above $10,000 for the first time on BitStamp: SINGAPORE (Reuters) - Virtual currency bitcoin rose to an all-time high above $10,000 on trading platform BitStamp on Wednesday. Bitcoin rose to as high as $10,069.12 on the Luxembourg-based BitStamp. The virtual currency had already climbed above the big figure on other, albeit smaller, platforms. It has soared more than 900 percent so far this year, posting the largest gain of all asset classes, on expanding financial and mainstream use. Created in 2009, bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds outside of a traditional centralised payment system. (Reporting by the Tokyo markets team; Editing by Sam Holmes) || Bitcoin futures approval sparks fears: 'The financial crisis all over again': Cryptocurrency traders were having a blast Tuesday after bitcoin gained approval in the futures market, but not everyone was in on the party. After CME said it would launch bitcoin futures before the end of the year, fears quickly arose that money would start cascading in, sparking dark comparisons with a financial crisis-like orgy of speculation. "I have no problem with bitcoin. I like the concept," said Joe Saluzzi, a principal at Themis Trading. "I have a problem that on Wall Street the innovators are trying to package something up and put a derivative label on it when they really don't know what's underneath. It reminds me of the financial crisis all over again." Remember the CDO wrapper around all those crappy mortgages during the financial crisis? Placing a wrapper doesn't make it safe. Bitcoin operates in the essentially unregulated universe of digital currencies, with nearly five dozen exchanges around the world, only two of which are based in the U.S., according to Bitcoin.org. Prices can vary widely as there is no underlying or mutually agreed upon pricing instrument. That's one thing that scares Saluzzi like the mortgages inside the collateralized debt obligations that helped precipitate the crisis, bitcoin's value could be hard to determine and bring substantial risk to the market. But more than that, he worries that CME ( CME )'s stamp of approval could legitimize bitcoin and persuade regulators to approve a growing list of requests for exchange-traded funds. Bitcoin's price surged past $6,400 Tuesday, according to CoinDesk. That would take bitcoin out of the arena of futures markets and cryptocurrency exchanges where traders should know the risks and into the mainstream of investment, where the ETF industry so far has attracted $3.3 trillion of investor cash and continues to grow. "They're desperate for an ETF on this thing," Saluzzi said, referring to the major exchanges. The Securities and Exchange Commission already has weighed in on bitcoin ETFs, rejecting a highly publicized request from Cameron and Tyler Winklevoss. The decision was based in part on bitcoin lacking a regulatory infrastructure that would prevent manipulation. "There could be spoofing, there could be layering, there could be all sorts of manipulation going on in bitcoin now, and nobody knows," Saluzzi said. "Until they say they are watching and making sure there are no manipulations and fraudulent activities, until they say we have a better regulatory system, I think we are playing with fire." A CME official, though, said the ability to bring bitcoin out to a more open market would increase stability. "Offering a futures contract on a regulated marketplace brings a number of benefits to this new market including transparency, price discovery and risk transfer all of which will better enable institutions and other market participants to manage their risk as the bitcoin market develops, a spokesman said. Saluzzi is hardly the only voice on Wall Street warning about bitcoin. JPMorgan Chase CEO Jamie Dimon has threatened to fire anyone on his staff trading in the cryptocurrency, and Larry Fink , CEO of BlackRock, the largest money manager in the world, recently called bitcoin an "index of money laundering." For its part, CME does have its own pricing system, called the Bitcoin Reference Rate, which will be used for valuing the futures contracts. The BRR aggregates prices from what are deemed major bitcoin exchanges as of 4 p.m. London time. "The BRR has proven to reliably and transparently reflect global bitcoin-dollar trading and has become the price reference of choice for financial institutions, trading firms and data providers worldwide," Timo Schlaefer, CEO of Crypto Facilities, which is working with CME, said in a statement. Saluzzi said that if traders want to take the risk on the legitimacy of bitcoin pricing and the potential for fraud, that's their business. "This is what they do, they're professional speculators," he said. "You just have to know what's in it." It's retail investors getting involved through a potential ETF that draws concern. "Until you understand what's going on, I don't understand how you can have an ETF," Saluzzi said. "This is scary, this is how it starts." WATCH: Colleges are crazy about bitcoin in a multitude of ways More From CNBC Terror to end bitcoin anonymity? 'Smart' people and Panama Papers Bitcoin mining IPO falls short || Cryptocurrency trading volumes reached a record high over the weekend that beats some US stock exchanges: REUTERS/Brendan McDermid
• Bitcoin, the red-hot digital currency known for its volatile price, was on a wild ride this weekend.
• Bitcoin crashed more than 25% from its all-time high of $7,721 set Wednesday to a low of $5,617 per coin on Sunday, according to data from cryptocurrency watcher CoinDesk.
• Bitcoin cash, on the other hand, propelled to a record-high of $2,500 early Sunday morning.
• Trading volumes on Sunday peaked at over $26 billion, according to cryptocurrency data siteCoinMarketCap.com.
• That's higher than the 5-day average trading volume for some US equity exchanges.
Bitcoin, the red-hot digital currency, had a wild weekend and that appears to have translated into record-breaking trading volumes across the cryptocurrency market.
Bitcoin crashed more than 25% from Wednesday's all-time high to a low of $5,617 Sunday. Bitcoin cash, the rival clone of bitcoin, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning.
The 24-hour trading volumes for cryptocurrencies reached a record high above $26 billion on Sunday, according to data siteCoinMarketCap.com.
To put that in perspective, that is higher than the 5-day average trading volumes for two US stock exchanges. Both IEX, the upstart exchange based in New York, and the Chicago Stock Exchange averaged less than $10 billion in trading each day for the last five days, according to data byCboe Global Markets.
IEX saw $7.8 billion worth of shares exchange on its venue, whereas CHX witness $3.1 billion in trading volumes.
New York Stock Exchange and Nasdaq, on the other hand, saw more than $50 billion worth of shares exchange daily on average over the last 5 trading days.
Still, the record cryptocurrency volumes over the weekend indicate the growing interest in the red-hot market, which until very recently has rarely witnessed daily trading volumes over $10 billion.
In an October 16 note to clients, Bank of America Merrill Lynch said cryptocurrencies presenta $1.6 billion opportunity for Wall Street. The figure was based on the assumption that cryptocurrency volumes end up at about 10% of current fiat currency trading volumes. Here's the bank:
"The FX market is highly liquid. For example, spot FX volumes were $1.65tr as of the most recent BIT Triennial survey in April 2016. If these volumes were to materialize, with the same relationship between spot market and futures, and the same revenue per contract, the revenue pool would be about $1.6bn."
Already, exchange giants Cboe and CME are looking to capitalize on the nascent space. They have both announced they are preparing tolaunch bitcoin futures products in the near term.
Higher volumes, according to Bank of America, could help legitimize cryptocurrencies across Wall Street, which still remains widely skeptical of their credibility.
BAMLMany top Wall Streeters have derided bitcoin, for instance, as a vehicle used mainly by criminals.
In an interview with Bloomberg News, Larry Fink, the head of the largest investor in the world, BlackRock said the explosive growth of bitcoin points to "how much money laundering is being done in the world."
And JPMorgan CEO Jamie Dimon once said bitcoin was only useful for murderers and drug dealers.
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See Also:
• Bitcoin is climbing
• A small band of trading specialists are taking calls about $50 million bitcoin deals
• Economist Nouriel Roubini says Bitcoin is a 'gigantic speculative bubble' — here's how he thinks the crypto-craze will finally end
[Random Sample of Social Media Buzz (last 60 days)]
bitcoin priceってゆうか、 || GAIN ☞ #nxc | ↑10.3% (5min) | 0.00002565 ↑ 0.00002829 | 10:00:45 ET
https://bittrex.com/Market/Index?MarketName=BTC-NXC …
Current #bitcoin price ☞ $14976
Current #ethereum price ☞ $721
a10e9 || RT https://twitter.com/cybergeak/status/939408497933996032 … RT @NiomiStreak: Email Marketing Tips #SocialMedia #DigitalMarketing #Mpgvip #defstar5 #growthhacking #SEO #bitcoin #PPC #SMM #Marketing #ContentMarketing #OnlineMarke… pic.twitter.com/7ZDs0txiwe
RT https://twitter.com/Prosper_Kenn/status/939408572861042688 … RT @… https://twitter.com/NiomiStreak/status/939408374549975040/photo/1pic.twitter.com/7ZDs0txiwe || こんばんは。 bitcoin priceという || こんばんは。 bitcoin priceという || CNBC’s Jim Cramer Calls #Bitcoin “Monopoly Money” http://s.blawks.com/Q54tYd #BTC #ETH #Cryptopic.twitter.com/W42TGSFaYE || Tiffany Haddishちゃんが || person: "...bitcoin..."
suddenly 5 people join in and talk about crypto for the next 20 minutes || Current price of Bitcoin is $7799.00 via Chain || The #BitcoinPizza would be worth US$65,037,100.00 right now (up 4.77% in the last 24 hours): #Bitcoin
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Trend: up || Prices: 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10
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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 2022-07-12]
BTC Price: 19323.91, BTC RSI: 34.90
Gold Price: 1723.30, Gold RSI: 23.58
Oil Price: 95.84, Oil RSI: 35.32
[Random Sample of News (last 60 days)]
BitNile Holdings Announces Strategic Partnership and Investment in Ecoark Holdings: Ecoark Holdings, Inc. BitNile subsidiary, Digital Power Lending, agrees to purchase $12 million in Ecoark preferred stock Ecoark subsidiary, Agora Digital, expects to deploy power capacity up to 78MW to power BitNile crypto miners Ecoark to deploy significant capital to its subsidiary, White River, for oil drilling projects LAS VEGAS, June 09, 2022 (GLOBE NEWSWIRE) -- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company ( BitNile or the Company ) today announced a strategic partnership and investment into Ecoark Holdings, Inc. ( Ecoark ) (NASDAQ: ZEST). BitNiles subsidiary, Digital Power Lending, LLC ( DP Lending ) has agreed to purchase $12,000,000 of a new series of convertible preferred stock of Ecoark, which will be paid no later than June 29, 2022. Pursuant to a mutually agreed upon use of proceeds, Ecoark intends to deploy significant proceeds via its subsidiary White River Holdings Corp. ( White River ) towards an oil drilling program across its cumulative 30,000 acres of active mineral leases at both shallow, intermediate, and deep levels. Ecoark will also deploy additional proceeds via its subsidiary Agora Digital Holdings, Inc. ( Agora Digital ) to provide BitNile with up to 78 megawatts ( MW ) of power within the State of Texas for digital asset mining capacity, subject to BitNile proceeding with this facility after having conducted the requisite due diligence. The Agora Digital power capacity would, if the project proceeds as presently anticipated, expedite BitNiles recently announced plans to significantly expand its Bitcoin mining production capacity, including growing its number of deployed Bitcoin miners to 20,600, representing an expected mining production capacity of approximately 2.24 exahashes per second. Further details and transaction documents will be provided via regulatory filings at a later date in accordance with Securities and Exchange Commission rules. The Companys Founder and Executive Chairman, Milton Todd Ault, III stated, Im very pleased to be partnering with Ecoark on this transaction and future business endeavors. I feel that the allocation of this $12,000,000 in capital to Ecoark will create significant shareholder value for both BitNile and Ecoark shareholders as White River attempts to extract its significant oil reserves from its mineral leased properties at historically high energy prices. The Companys Vice Chairman and CEO, William Horne, stated, I feel that there are significant synergies between BitNile and Agora Digital where our cache of digital asset miners and Agoras power capacity at extremely low power rates can expedite both businesses expansion and market share in the digital asset sector. Story continues Ecoarks Founder, Chairman and CEO, Randy May, stated, I am grateful to have met Todd Ault recently and to have worked so closely the last few weeks structuring this mutually beneficial transaction. I feel that there is a lot of untapped value within Ecoark across all of our subsidiaries that is not being currently realized by the market, and the BitNile investment and strategic partnership will greatly expedite the unlocking of that shareholder value. Agora Digitals CEO, Brad Hoagland, stated, We are excited to be partnering with BitNile to further establish our company as the only power-centric digital asset company in the public market. About BitNile Holdings, Inc. BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNiles headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com. About Ecoark Holdings, Inc. Founded in 2011, Ecoark is a diversified holding company. The company has three wholly-owned principal subsidiaries: Zest Labs, Inc. (Zest Labs), Banner Midstream Corp (Banner Midstream) and Agora Digital Holdings Inc. (Agora). Zest Labs, offers the Zest Fresh solution, a breakthrough approach to quality management of fresh food, is specifically designed to help substantially reduce the $161 billion amount of food loss the U.S. experiences each year. Banner Midstream is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Texas, Louisiana, and Mississippi. Banner Midstream also provides transportation and logistics services and procures and finances equipment to oilfield transportation services contractors. Agora was formed to acquire its new cryptocurrency mining subsidiary, Bitstream Mining LLC. ZEST FRESH and Zest Labs are trademarks of Zest Labs, Inc. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Ecoarks planned use of proceeds, acceleration and expansion of the businesses of both Ecoark and BitNile, the ability to Ecoark to capitalize on oil reserves, and the expectation of enhancing shareholder value of each company. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as believes, plans, anticipates, projects, estimates, expects, intends, strategy, future, opportunity, may, will, should, could, potential, or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and neither BitNile nor Ecoark undertake any obligation to update any of these statements publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. In addition to risks relating to the continuation of high oil prices and state regulation of bitcoin mining, investors should review risk factors, that could affect either or both of the BitNiles and Ecoarks respective businesses and financial results which are included in BitNiles and Ecoarks respective filings with the U.S. Securities and Exchange Commission, including, but not limited to, their respective Forms 10-K, 10-Q and 8-K. All such filings are available at www.sec.gov and on the companies websites at www.BitNile.com and www.ecoarkusa.com , respectively. BitNile Holdings Investor Contact: IR@BitNile.com or 1-888-753-2235 Ecoark Holdings Investor Contact: investorrelations@ecoarkusa.com or 1-800-762-7293 || Building Sustainable Wealth Outside Of Legacy Banking: A New Model For A New Era: Boris Zhitkov | Getty Images The prime use case of cryptocurrency was as a replacement for traditional fiat currency. On the Bitcoin genesis block was printed a message about how the banks were being bailed out after the market crash, a clear indication of the intention of this new technology. A similar message was repeated in 2020, though fewer people are aware of this later reference to money printing. Although the use-cases have broadened considerably, this still remains a pivotal aim of cryptocurrencies and NFTs. It offers wealth generation mechanisms that are unparalleled in the classical investment industry and has provided a means for all classes of investors to create long-lasting wealth. It also provides opportunities for micro-finance , to bank the unbanked, and to help out those in emerging markets to gain a financial foothold. All of this is happening outside of the controlled, centralized, legacy banking sector, which often hindered the many from acquiring wealth and enabled the few to hold onto it. The issues of centralized banking The problems contained within the traditional banking model are far too many to list in a single article. But it's obvious that it promotes the centralization of wealth and enables a few key individuals to hold not just financial power, but also significant political power. All of this centralization of power can culminate in a devastating resolution such as war. The banking system and political governance system are inexorably intertwined. On a similarly worrying note, banks are the ones responsible for determining whether or not you get a mortgage, and at what price. Even so, they are known to switch customers to higher rates to earn more profit while misleading their customers. They determine loans of all kinds. Accounts can be frozen for activities that go against their terms and conditions. Redlining is a policy where lenders identify minority groups that are more likely to default on loans and mortgages. Those of particular ethnic backgrounds are given worse rates, almost a form of institutional racism. Fiat interest rates are now effectively negative when all fees are accounted for. If you pay $10 a month to store your money and earn $0.50 in interest, then you are still paying for the privilege of owning an account (though it may not be marketed as a negative interest rate). At one time, those who put money in a fiat bank account were rewarded, as is the case in all organic systems of economic investment such as cryptocurrency. It's difficult to set up an account, and there are reams of red tape associated with all kinds of financial activity, intimately tied in with the legacy banking sector. The charges and fees are extremely high compared to what's on offer. Even if you do get rich, it will be very slow, and you will pay dearly for every dollar you make. Story continues Read More: Web3 Could See Its Own Dot-Com Boom. Here's How To Survive Create sustainable wealth with Web3 solutions A number of innovative Web3 projects are providing mechanisms that can enable people to safely invest in cryptocurrencies and build sustainable wealth for the future, in a shorter time frame. At present, though the crypto markets are rising year on year, most investments are made through guesswork. There are no reliable metrics to assess what makes for a coin or project with powerful long-term viability. New projects like Defy Trends offer a solution by assigning each coin a score based on a number of reliable metrics including social sentiment, on-chain data, off-chain data and deep web analytics. This is exactly what individuals and businesses need so they can build diverse portfolios of strong Web3 companies and projects. It provides advanced traders and novice investors with a framework to objectively analyze token value. This will assist in long-term wealth generation and can also help in terms of preserving currency. Tools like this perform due diligence so investors do not get scammed, something all too common in the crypto markets. The first lesson in wealth preservation is to learn to hold onto it, then grow it securely. Traders and investors need help correctly interpreting the crypto markets in order to preserve and grow long-term wealth. Other companies like Circle and CoinsPaid help existing businesses make a seamless transition to cryptocurrency in a cost-effective manner. They offer a quick way for businesses to get onboarded onto cryptocurrency while preserving existing processes, so there is no disruption in business. All customers receive a crypto payment processor under their own brand out of the box within a month. It allows instant payment in more than 30 cryptocurrencies and provides a built-in exchange for 20 fiat currencies. This is the power of the blockchain at work. Read More: Become a Web3 Programmer in Your Own Time Expansive wealth opportunities Web3 companies like this are instrumental in making the transition from legacy banking to modern cryptocurrency. Red tape is avoided, efficiency is enhanced, transfers are quick and immutable, and cross-border payment is effortless when using distributed ledger technology. But the advantages extend beyond this into completely new paradigms of investment. The real estate market, currently saturated by a small number of wealthy elites, is being reopened in a different way. There are VR-enhanced metaverses where you can purchase your own "space" and sell NFTs through it. The music industry is also being redefined with concerts that can be attended virtually, with recording artists paid in crypto. The NFT market has already exploded, with one collection selling for $69 million , despite being just pieces of digital art. There are also multiple opportunities in decentralized finance such as yield farming and cross-chain liquid staking, invented by Ankr . These can be compared to financial derivatives in the crypto market. Any financial tool in the legacy banking industry can quite easily be put onto a blockchain and streamlined for optimal results. Read More: 3 Reasons Why Web3 Needs Protocols And Not Service Providers Retain ownership of earned wealth The new model of Web3 investment is not only reopening access to existing markets. It is creating entirely new paradigms and new forms of wealth generation and preservation. Perhaps the biggest benefit is that Web3 will allow you to preserve the wealth you have already made. Nobody has access to your crypto wallet except you, in contrast to a bank account you only have a "right" to access. In the legacy banking sector, your currency will be eaten up or effectively stolen through charges, fees, inflation, taxes and the many other creative ways through which centralized finance takes what is yours and confiscates it. I call this the Poor Tax. The money we have to pay when we have no money. It doesn't make sense. It doesn't seem like society should be able to function this way. But there is hope. Read More: Web3 Is the Future of the Creator Economy View comments || PayPal Finally Allows Users to Move Their Crypto Off Platform: Key Insights: After nearly two years, U.S. PayPal users can move their cryptocurrencies to external wallets. The payments provider wants to remain competitive in the crypto sector. PYPL stock is up marginally but has lost 55% since the beginning of 2022. Payments giant PayPal enabled crypto trading and holding for select users in October 2020. However, it restricted what they could do with those tokens by preventing them from leaving the platform. On June 7, the company announced that it would finally allow users to transfer their crypto assets to external wallets. However, as with crypto trading, the freedom of token movement is only available to select customers in the United States, according to the California-based company. PayPal ( PYPL ) acknowledged that users had been requesting this feature since it enabled crypto access nearly two years ago. Remaining Competitive SVP and general manager of blockchain, crypto, and digital currencies at PayPal, Jose Fernandez da Ponte, told TechCrunch : “This feature was the most demanded from our users since we began offering the purchase of crypto on our platform,” Users can now move their Bitcoin ( BTC ), Ethereum ( ETH ), or other supported cryptocurrencies into exchange wallets or hardware devices. There will be network fees to pay, and PayPal will take its cut of transfers out of its ecosystem. “If users have crypto somewhere else and want to consolidate, they can bring it to PayPal from external addresses,” Fernandez da Ponte added before confirming that “they can also send crypto to anyone who is in the PayPal system.” The move was unavoidable if the company wanted to remain competitive in the crypto industry. Fernandez da Ponte confirmed PayPal’s ambitions in the sector, stating: “We see ourselves as a conduit between the fiat, or traditional finance, environment and the web3 environment. We are enabling connectivity to other wallets, exchanges, and applications.” He added that people are still adopting crypto despite the current market conditions. “This move shows we’re in this for the long term,” he said before confirming that PayPal would continue to invest in the space and “stay the course.” Story continues U.S. PayPal users must comply with additional KYC (know-your-customer) procedures if they want to transfer crypto assets. The move was catalyzed by the transition from a “conditional” to a “full” BitLicense following approval from the New York Department of Financial Services. PayPal Stock Boosted PayPal stock saw a marginal 2.5% gain on the day on June 7 to change hands for $88.31 in after-hours trading. However, like most tech stocks, it has been hammered recently, dropping more than 55% since the beginning of the year. PYPL is down more than 70% since its all-time high of just over $300 in mid-2021. This article was originally posted on FX Empire More From FXEMPIRE: Statkraft plans large expansion of western Norway hydropower plant India’s RBI hikes rates as inflation pressures build; drops ‘accommodative’ from stance Orbex Expands Its Product Offering with 11 Major Cryptocurrency Pairs A new spring for green govt bonds after Ukraine war freeze Why France’s legislative elections matter Lavrov says onus is on Ukraine to de-mine ports to allow grain shipments || Bitcoin and ETH Price Prediction: Bears Target Lows, Why Doge Is At Risk: Key Insights: Bitcoin is showing bearish signs below the $20,000 and $19,300 levels. Ether (ETH) might accelerate lower below $1,000. DOGE might start a major decline if there is a close below $0.060. Bitcoin After a minor upward move, bitcoin price faced sellers near the $20,500 zone. The price failed to continue higher and started a fresh decline below the $20,000 support. The bears pushed the price below the $19,300 level and the 21 simple moving average (H1). BTC declined below the $19,000 zone to enter a bearish zone. There is also a key bearish trend line forming with resistance near $19,600 on the hourly chart. BTC Hourly Chart by FXEmpire On the downside, there is a crucial support near $18,500. A close below the $18,500 zone could start a major drop. Conversely, the price could start a decent recovery wave above the $19,300 level and the 21 simple moving average (H1). Ethereum (ETH) ETH also followed a similar pattern after it failed to clear the $1,120 resistance zone. There was a fresh decline below the $1,085 level and the 21 simple moving average (H1). There was a move below the $1,035 level and the bears are now attempting a move below the $1,000 support zone. The next major support is near $945, below which there is a risk of a move towards the $880 low or even $850. ETH Hourly Chart by FXEmpire Conversely, the price could rise again and revisit the $1,085 resistance zone. The next major resistance is near the $1,160 level. Dogecoin (DOGE) DOGE started a recovery wave from the $0.0500 support zone. There was a move above the $0.0600 level and the 21-day simple moving average. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $0.098 swing high to $0.050 low. However, the price faced a strong resistance near the $0.0750 zone. DOGE also failed near a crucial bearish trend line with current resistance at $0.0750. Besides, the price was rejected near the 61.8% Fib retracement level of the downward move from the $0.098 swing high to $0.050 low. Story continues The price is now moving lower and trading near the $0.063 support zone. If there is a close below $0.060 and the 21-day simple moving average, the price could nosedive. ADA, BNB, and DOT price Cardano (ADA) is down over 6% and trading below the $0.45 level. The next major support is seen near the $0.42 level. Binance Coin (BNB) is accelerating lower towards the $205 level. The key breakdown support is still near the $200 level. Polkadot (DOT) traded below the $7.0 support. The next major support is near $6.50, below which the price might dive towards $6.05. A few trending coins are LEO , OKB , and ZRX . Out of these, ZRX is still holding gains above the $0.32 support zone. This article was originally posted on FX Empire More From FXEMPIRE: Exclusive-Odds of reviving Iran nuclear deal worse after Doha talks -U.S. official Moodys downgrades Germanys Commerzbank but outlook is stable Shell pauses sale of Nigerian onshore oil assets New York lawmakers to loosen gun-permit laws after Supreme Court ruling Oil falls 3% on uncertainty over future OPEC+ output, recession fears Spains Abengoa asks to start insolvency proceedings for main unit || What Is a Crypto Winter?: Fans of “Game of Thrones” will be familiar with the phrase “Winter Is Coming,” which essentially means bad things are coming in the form of a lasting conflict.That phrase became the genesis of another term these days – “crypto winter”– which describes bad things that are happening already.
See:Coinbase Announces Hiring Freeze, Rescinds Job Offers – Should You Move Your Crypto?Find:Crypto Winter Is Here – How to Manage Your Assets During a Cryptocurrency Bear Market
In this case, those bad things are tanking cryptocurrency values. The two biggest cryptos, Bitcoin and Ethereum, have both plunged by more than 30% over the last week, Time reported. Bitcoin’s price edged close to $20,000 — its lowest level since Dec. 2020 and 70% off its high set in Nov. 2021. Ethereum’s price sank below $1,100, its lowest in a year-and-a-half and more than 75% below its all-time high, which also came in Nov. 2021.
Those aren’t the only cryptocurrencies to hit the skids. Leading altcoins such as Cardano and Polygon are both off more than 60% year to date, Forbes reported. Major crypto exchanges like Coinbase and Gemini have also felt the pain, with both recently announce hiring freezes and layoffs. They were joined by lender BlockFi, which announced its own layoffs. All cited the arrival of a crypto winter.
Shares of Coinbase, the largest U.S. digital-asset trading platform, have fallen 86% from their 52-week highs. The company this week said it will lay off 18% of its workforce, Bloomberg reported. The layoffs follow an aggressive hiring campaign by Coinbase in recent years. This year alone it added about 1,200 employees — roughly the same number it now plans to lay off.
These developments have all contributed to the current crypto winter, which is the term used to describe a prolonged market slump. Since Nov. 2021, the global crypto market has dropped about 60%. Crypto winters typically begin with a dramatic sell-off from Bitcoin highs.
Like stocks, which entered a bear market this week, crypto has been hurt by high inflation and a growing sense of economic uncertainty tied to the war in Ukraine and ongoing global supply chain problems.
“The crypto market was already feeling the effect of world events, especially the Russia-Ukraine conflict that caused turmoil in global finance,” Igor Zakharov, CEO of DBX Digital Ecosystem, told Forbes. “By the time TerraUSD and Luna collapsed and set in motion a domino effect in the crypto world, crypto winter had already begun.”
This isn’t the first time the crypto market has faced a lengthy downturn. The last crypto winter lasted from January 2018 to December 2020 (that’s also when the term “crypto winter” first entered the lexicon). The good news is, that slump was followed by a long and steep growth trajectory for cryptocurrencies that peaked in November 2021.
See:Is Crypto a Reliable Source of Income for Retired People?Find:What Is Crypto Mining and How Does It Work?
Will the same thing happen this time? Don’t bet on it, experts say.
“I don’t expect crypto to come roaring back as it did in 2021 because the tailwind of Federal Reserve monetary policy has actually become a headwind for the asset class,” Robert Johnson, professor of finance at the Heider College of Business at Creighton University, told Forbes.
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This article originally appeared onGOBankingRates.com:What Is a Crypto Winter? || What are crypto custodians? Yahoo U: Before purchasing or investing in a cryptocurrency, investors must first consider how they would like to store and transact with their coins.
Crypto owners may either choose self-custody — where they act as their own bank — or entrust a third party to keep custody of their cryptocurrency until it’s ready to be used.
For instance, those who use bank accounts rely on the services offered by a core model of storage and protection against theft in order to withdraw, deposit, and access their money.
Crypto custodians are similar. Think of them as a bank where you can store your coins, manage their liquidity, and protect them from theft.
What determines a good crypto custodian?
Accessibility and theft protection are two primary requirements that any crypto-curious person should consider.
Some crypto custodians offer digital wallet services ("hot wallets") that are connected to the internet. These offer faster transaction speeds and may be suited for an investor who intends to be an active trader.
But as ownership of cryptocurrencies such as bitcoin (BTC-USD), ethereum (ETH-USD), and altcoins has expanded, custodial services have also developed an alternative known as cold storage. These services let crypto holders keep their coins and tokens offline on hard drives, like money under the mattress.
A few of the largest crypto custodians to date are Coinbase (COIN), BitGo, and Gemini.
Funds stored in a bank account are typically protected by the Federal Deposit Insurance Corporation from theft, fraud, and other risk factors.
However, cryptocurrencies are not yet federally regulated, so crypto custodian services take other precautionary measures in order to protect their customers, oftentimes through an additional insurance policy.
If you’re leaning towards a hot wallet or private key custody service, it's important to confirm that the company is insured for losses that result from a cybersecurity breach.
This type of policy is more common among the larger exchanges. For example, BitGo has disclosed they have a $700 million insurance policy, whereas Gemini has a $200 million policy.
Furthermore, you will also want to confirm that the custodian service you choose insures the full value of your holdings. That way, in the event of a hack that results in theft, you would be reimbursed in full.
Bradley Smith is an anchor at Yahoo Finance. Follow him on Twitter@thebradsmith.
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The top 21 crypto leaders to watch in the back half of 2021 || Twitter Reassures Staff on Musk Deal, Sees Vote by August: (Bloomberg) -- Twitter Inc.’s top lawyer reassured staff Wednesday that the deal to sell the company to billionaire Elon Musk is still progressing, and that a shareholder vote will occur in late July or early August, according to people familiar with the matter. Most Read from Bloomberg China Alarms US With Private Warnings to Avoid Taiwan Strait Global Rout Deepens as Outsized Rate Hike in Play: Markets Wrap Bitcoin Tumbles to 18-Month Low as US Inflation Impact Spreads China Is Walking Back Virus Loosening Weeks After Reopening Powell Facing Choice Between Elevated US Inflation and Recession The company is just waiting for the Securities and Exchange Commission to approve its proxy, after which it will be sent to shareholders, Vijaya Gadde, Twitter’s head of legal and policy, said at an employee meeting, the people said. Musk in recent weeks has been publicly skeptical of Twitter’s user numbers, and the amount that are automated bots, driving uncertainty about whether he will complete the deal. The company has agreed to share its firehose of public tweet data with Musk in an effort to assuage his concerns, according to a person familiar with the situation. The Washington Post earlier reported on the data agreement. “Twitter has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement. We believe this agreement is in the best interest of all shareholders,” the company said. “We intend to close the transaction and enforce the merger agreement at the agreed price and terms.” Gadde and other executives Wednesday responded to a flurry of employee questions and concerns about the deal. Among them: whether people will be able to continue to work from home, as Twitter has promised would be possible. Gadde said remote work is not protected by the merger agreement, so there’s no guarantee Musk will continue to allow it, the people said. (Updates source of firehose data in third paragraph.) Story continues Most Read from Bloomberg Businessweek A Billion-Dollar Crypto Gaming Startup Promised Riches and Delivered Disaster A Parisian General Store’s Radical Message for Its Customers? Buy Less Wall Street Executives Can’t Stop Talking About a Recession The IRS Is Coming for Your Venmo Income Soaring Oil Prices Force Biden to Engage With Saudis He’d Spurned ©2022 Bloomberg L.P. || BankLine's Crypto ATM Operators Expanding Services to Puerto Rico: BankLine announced the addition of armored cash logistics services for Crypto ATMs in the commonwealth of Puerto Rico.
BankLine expands services to crypto ATM operators in Puerto Rico
MIAMI, June 28, 2022 (GLOBE NEWSWIRE) --BankLine announced the addition of armored cash logistics services for Crypto ATMs in the commonwealth of Puerto Rico.
BankLine now provides Crypto-friendly banking and armored cash logistics services in more than 300 markets across the USA, including Hawaii, Alaska and Puerto Rico.
Expanding Crypto ATM Market Coverage
Puerto Rico, as a crypto-friendly country, is a fast growing market for the Crypto ATM industry. BankLine continues to make every effort in support of our clients and to help them scale their business.
Services Designed Specifically For Crypto ATM Operators
BankLine's partner financial institutions are Armored Carrier agnostic, providing BTM Operators several options for cash extraction and loading services. Awider variety of optionsprovides a Crypto ATM Operator increased leverage to negotiate for better pricing and improved service with their armored carriers.
Infrastructure Designed For A Rapidly Expanding Industry
BankLine has taken the lead in the Crypto ATM industry by providing multiple Crypto-friendly banking relationships which support more than 300 Virtual Vaults (Loomis, Brinks, & Garda). Expanding service to Puerto Rico is another example of BankLine's continued efforts to support the needs of Crypto ATM operators with banking services and cutting edge technologies exclusively designed for the Crypto ATM industry.
President and CEO of BankLine, Mark Ochab, commented that BankLine will continue to expand services to meet the needs of the crypto ATM industry in the US and abroad.
About BankLine
BankLine is the only Crypto-friendly banking solution that offers a portfolio of redundant financial institutions willing to serve the varied needs of the Crypto industry. BankLine's network of Crypto-friendly banks and services helps mitigate the threat of bank discontinuance and provides ongoing, sustainable, and scalable banking and support services.
Each BankLine customer has a direct relationship at one or more of four FDIC insured financial institutions. The accounts are titled in the business entity's name and are exclusive for the entity's activity.
BankLine's partner financial institutions provide Over The Counter services in addition to contracting with more than 300 Loomis, Brinks, and Garda Cash Vault facilities, servicing over 29,000 Crypto ATM locations across the USA and its territories.
BankLine is now expanding Crypto-friendly banking and armored cash logistics services to the EU, UK, as well as Central and South America.
Find out more atBankLine.com
Media Contact:
Andy Benjamin1-800-409-1647sales@bankline.com
Related Images
Image 1: BankLine expands services to crypto ATM operators in Puerto RicoBitcoin ATM Operators now have access to BankLine's banking services in Puerto Rico
This content was issued through thepress release distribution service at Newswire.com.
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• BankLine expands services to crypto ATM operators in Puerto Rico || MicroStrategy’s New CFO Says Bitcoin Strategy Unchanged Amid Market Drop: Report: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
MicroStrategy (MSTR) Chief Financial Officer Andrew Kang toldThe Wall Street Journalon Wednesday that the company’s strategy to buy and hold bitcoin (BTC) for the long term won’t change despite the crypto and broader stock market rout.
• Kang said the company has no intention to sell right now and hasn’t faced pressure from shareholders, according to the report.
• Comments from Kang come after MicroStrategy’s CEO Michael Saylor has consistently reiterated that the company won’t be selling its bitcoin holdings.
• MicroStrategy has faced questions recently around itsterm loan from Silvergate, and whether the company would face amargin callif bitcoin fell to a certain level.
• As of March 31, the original cost basis and market value of MicroStrategy’s bitcoins were $3.97 billion and $5.89 billion, respectively, reflecting an average cost per bitcoin of about $30,700 and a market price per bitcoin of $45,602.79, respectively. MicroStrategy holds just over 129,000 bitcoins, according to its latestearnings release.
• Shares of MicroStrategy have fallen about 63% this year while bitcoin has fallen about 36% during the same period.
Read more:Michael Saylor Suggests MicroStrategy Will Never Sell Its Bitcoin || Acuity Brands Clocks 18% Revenue Growth In Q3, Beats Street Expectation: View more earnings on AYI See more from Benzinga Benzinga Before The Bell: Texas Giga Tesla's Output Ramp Up, California's Lithium Tax, Spot Bitcoin ETF Proposal Rejection And Other Top Financial Stories Thursday, June 30 FAA's Oversight Of Boeing 787 And 737 Production To Be Audited By US Watchdog Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better . © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 20212.07, 20569.92, 20836.33, 21190.32, 20779.34, 22485.69, 23389.43, 23231.73, 23164.63, 22714.98
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-03-25]
BTC Price: 3963.07, BTC RSI: 51.21
Gold Price: 1321.90, Gold RSI: 60.01
Oil Price: 58.82, Oil RSI: 60.80
[Random Sample of News (last 60 days)]
‘Satoshi’ Craig Wright Brags about Destroying Anonymous Coins Monero, Zcash: Self-professed bitcoin creator Craig Wright reveals his take on privacy-centric coins. | Source: Shutterstock Dr. Craig Wright is back. And this time, he is out to destroy the societally menacing anonymous coins. The Australian computer scientist and alleged creator of Bitcoin told CNBC Africa’s Ran Neuner that he knows how to kill Zcash and Monero . Dr. Wright said that he was going to expose these anonymous coins sometime this year, adding: “If you have a privacy coin, I will show you that it is basically as private as running through Times Square with your pants around your ankles.” If what Dr. Wright is saying is correct, then it is a piece of troubling news for discerning dark web drug traders and pseudonymous hackers. They reportedly prefer a Monero over a Bitcoin because Monero promises to offer better privacy protections. It is designed to mix up payments so that anyone investigating Monero’s blockchain can’t link transactions to its source. On the other hand, Bitcoin’s blockchain is open, where researchers can trace transactions back to the original sender/recipient. All they would need is an address in the chain linked to a user’s true identity. But it doesn’t precisely make Dr. Wright a genius, given he used a lot of I’s in his statements. The respected scholar tends to forget that researchers before him had studied Monero for its potential flaws. Take this Wired report for instance. It discusses the findings of a team of researchers from Princeton, Carnegie Mellon, Boston University, MIT, and the University of Illinois. Per them, Monero’s mixing has a flaw. It makes it possible for investigators to extract individual transactions. What’s The Defect According to researchers, Monero’s transactions were not so private until February 2017, when the project went through a privacy protection upgrade dubbed as Ring Confidential Transactions. But before that, the Monero blockchain had hosted roughly 200,000 transactions which remain traceable to this date. There is also another defect – not found by Dr. Wright – that Monero developers are attempting to solve. As explained above, Monero mixes transactions at the time of transmission to hide their source. Story continues Harry Potter, Bitcoin, Monero, Dr Craig Wright The Battle of Seven Potters | Source: Warner Bros Entertainment Inc Remember the Battle of Seven Potters? In the book and movie Harry Potter and the Deathly Hallows, the Order of Phoenix manages to escort the real Harry Potter by transforming six of the order members into his lookalikes. Monero uses similar decoys known as “mixins” to cover tracks of the original Monero coins. (Yes, I am a Potter-head.) So, the crack has to do with Monero’s optional privacy feature. For instance, in its first year, many users opted out of Monero privacy and transacted coins openly. The trouble lies in the fact that an already identified Monero token can be easily pulled out of the mixins by the Death Eaters, otherwise known as regulators. That leads to the same Bitcoin problem: one identified transaction revealing the identity of the following transactions. Like the cowardice of Mundungus Fletcher, who was one of the Potter decoys, exposed the rest of the Order to danger. (Yes, I am.) A Not-So-Anonymous Arrogance It is too early to say Dr. Craig Wright was taking his cues from the study mentioned above. But he sounds like a person who is projecting a technology’s potential flaw as a doomsday button. It is as if Dr. Wright wants the projects to fail at any cost, never realizing that a flaw prompts developers to fix the problem, not shut down the entire operation. Not my issue, you use an anon coin, a crime coin as this is all they really are, and you are in many countries already committing a crime. So, I would rather teach the Feds how to stop this than help a bunch of losers help criminals — Dr Craig S Wright (@ProfFaustus) March 5, 2019 And then, there is a self-righteous brag. In one of the tweets, Dr. Wright said he was going to help the criminal enforcement agencies how to stop an anonymous coin. They are the same agencies who would waste no time in arresting Dr. Wright for claiming that he is the creator of bitcoin, a digital currency that reportedly facilitated money laundering and drug trafficking in the last decade. It is not important whether you didn’t commit a murder. But if you openly proclaim that you did, then you belong in jail anyway. The situation explains why Dr. Wright is cozying up with the Feds, luring them into a deal that could potentially scale up their crackdowns against digital currencies. But dear feds, beware! What you might get is a recycled study in the name of technological breakthrough. For more information, just go through this tweet: The Bernie Madoff of #Bitcoin , Craig S. Wright, who keeps forging documents to make it seem that he is Bitcoin's pseudonymous inventor Satoshi Nakamoto, caught again, this time forging a "2001" antecedent to Nakamoto's first Bitcoin paper. https://t.co/Xqmok0p0U4 pic.twitter.com/HssXgTuQ7l — WikiLeaks (@wikileaks) February 13, 2019 Yes, Dr. Craig Wright can destroy anonymous coins. In these times, anything can happen over a tweet. [Disclaimer: The opinions expressed in this article is of the author and author’s only.] Read the full story on CCN.com . || Virginia Police Department Reveals Why its Pension Fund is Betting on Bitcoin: fairfax virginia police pension bitcoin crypto Fairfax County, Virginia has targeted part of its pension fund toward investments in the Bitcoin and cryptocurrency industry, as well as blockchain technology in general. Now, they’re explaining why. Fairfax County Retirement Systems Director Jeff Weiler published a post in response to CCN and other media’s reporting on the county’s decision to invest in Morgan Creek’s latest offering, the Blockchain Opportunities Fund. Oversubscribed from its intended $25 million, the fund invests in blockchain companies. It captured $40 million from two Fairfax County pension plans and other institutions. Less Than 1% Of Two Retirement Funds Allocated to Crypto Ventures fairfax virginia police pension crypto bitcoin Source: Fairfax County Police/Facebook First things first, the post gives specifics about the amounts invested. In total, the Virginia retirement system dumped $21 million into the fund. $10 million is from the county employee’s retirement fund while $11 million is from the police officer’s fund. They represent 0.3% and 0.8% of the funds’ total assets, respectively. Read the full story on CCN.com . || Data: US Traders Most Active Across Major Crypto Exchanges: New data shows thatUnited Statestraders are the most active across majorcrypto exchanges, according to a Feb. 4tweetfrom data analytics firm DataLight.
The U.S. has the highest distribution of traders — 60 percent — on major crypto exchange and walletCoinbase, while onBinance,BittrexandPoloniex, U.S. traders make up 24, 27 and 28 percent of total crypto traders respectively.
Geographical Distribution of Crypto Traders. Source:DataLight
American traders are less represented onHong Kong-based crypto exchangeBitfinex, at 10 percent of traders on the exchange, whileGermantraders make up 13 percent.
Earlier this year, Bittrex launched an over-the-counter (OTC) trading desk that offers around 200 crypto assets. OTC trading has become extremely popular among institutional investors looking to trade in large volumes, as previouslyreportedby Cointelegraph.
Since the beginning of the year, trading records have been reporting lower numbers, according to a previousarticleby Cointelegraph. Coinbase was experiencing lows that they have not been seen since 2017, with the Bitcoin (BTC)/US Dollar (USD) market at allegedly around $1 billion in January.
Asreportedby Cointelegraph, Coinbase has recently added support forEuropean Unionresidents to make fiat currency withdrawals toPayPal, after havingreleasedthis service for its U.S. users in December 2018.
• US Crypto Exchange Coinbase Adds Bitcoin Support to Coinbase Wallet App
• United States Crypto Platform Huobi.com Launches Fiat-Crypto Trading
• Kraken Buys UK Exchange Crypto Facilities for at Least $100 Million
• Hodler’s Digest, Jan. 21–27: Top Stories, Price Movements, Quotes and FUD of the Week || Weeky Market Outlook: February 18-22: $50 Welcome Bonus – the easiest way to progress on Forex The week is anticipated to be tough for the US dollar. Mr. Trump signed the Declaration for a National Emergency to address the national security and humanitarian crisis at the Southern Border. Trump is prepared to issue the first veto of his term if Congress votes to disapprove of his declaration. Investors need to follow news on this issue to be up to date because the direction of the USD will affect other markets as well. As usual, Monday stays calm and doesn’t offer important events to trade. But other days will give interesting opportunities. On Tuesday, the Asian session will bring monetary policy meeting minutes by the Reserve Bank of Australia. The Australian dollar managed to gain momentum last week. The positive reading will support the currency even more. Later that day the British Average Earnings Index will determine the direction of the pound. On Wednesday, the Federal Reserve will publish its meeting minute. The US dollar needs “not that cautious tone” to move up. Moreover, the day will cause volatility in the Brasilian market. Brazilian pension proposal will be sent to Congress that day. The reform is a key element of the new elected president. As soon as it approved by the Congress, the Brazilian real will be boosted. On Thursday, we anticipate a lot of events to trade on. Australian jobs data may loosen the Australian dollar. Last time the releases appeared to be more optimistic than the forecasts. However, this time, the forecasts are not that shiny. American core durable goods orders will affect the USD. In the evening, the market will wait for the speech of Mr. Poloz, the Governor of the Bank of Canada. Last week, the Canadian dollar was quite encouraged by rising oil prices. Higher oil and the optimistic governor will push the CAD up. On Friday, Canadian dollar’s traders will get an opportunity to trade on the retail sales data. Also, we anticipate speeches of the governor of the Reserve Bank of Australia and the president of the ECB. As always, the hawkish tone will support domestic currencies. Story continues Let’s consider market moves. Will USD/CAD resume the upward movement? On the weekly chart, we see the doji candlestick that signals uncertainties for the market moves. On the daily chart, the pair has been trading sideways. The further direction will depend on the strength of the USD and economic data for Canada. Up to now, the pair is below the middle pivot level that increases risks of the further decline towards 1.3179, 1.3115 and 1.3035. However, trend indicators give some hope for the recovery. Parabolic SAR keeps forming dots below the price. Also, the pair is in the upper range of the Bollinger Bands oscillator. As soon as the pair closes below, chances for the fall will increase. Until then key resistances are at 1.3259, 1.3323 and 1.3403. Will AUD/USD form the “Head and Shoulders”? On the daily chart, it seems like the pair has been forming the “Head and Shoulders” pattern. The economic data are not anticipated to support the Australian dollar this week, however, the situation may change. As soon as the pair breaks above 0.7208, the pattern will be canceled and the further surge will be more likely. However, the pressure may increase due to weak economic releases. In this case, 0.7173 will become a point of the reversal and the pair will start suffering targeting levels of the pattern. Supports will lie at 0.7078, 0.7044, 0.7019 and 0.6984. This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead: Trade Talks, FOMC Minutes and Brexit in Focus Brexit, the Pound and the Political Chaos Bitcoin And Ethereum Daily Price Forecast – Major Cryptocoins on Path To Breach Psychological Resistance Levels NEO Technical Analysis – Support Levels in Play – 19/02/19 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/02/19 Gold Price Forecast – Gold markets continue to grind higher || Coinomi Wallet Addresses Vulnerability Concerns: Coinomi Wallet denied recent claims that its software sends wallet recovery seed phrases to Google’s remote spell checker servers in plain (unencrypted) text. The company refuted the claims in an official statement published on Feb. 27. In the statement, Coinomi claims that, unlike what was reported, the seed phrase transmission was encrypted via SSL (HTTPS), with Google being the only recipient capable of decrypting the message. Coinomi notes that the phrase was only transmitted if the user chose to restore his wallet and only on the desktop version. Finally, Coinomi states that the spell-check requests sent to Google were not cached or stored, since they were flagged as bad requests by the servers and were not processed further. The cause of the problem was reportedly a bad configuration in a plug-in software contained in the desktop version of Coinomi wallets. The company claims that on Feb. 22 Warith Al Maawali created a support request on their board regarding a vulnerability contained in their wallet which, according to Maawali, has led to a wallet being hacked, as he claims on the dedicated website AvoidCoinomi . Coinomi purportedly flagged the request as high priority and investigated into the matter. The company COO Angelos Leoussis said on the firm’s official Telegram group that the user kept “threatening, swearing, and blackmailing us for insane amounts.” While a video posted on AvoidCoinomi aims to demonstrate the alleged vulnerability, it appears to show that the option to decrypt HTTPS is selected in the software. Leoussis shared an alleged copy of the conversation with Maawali with Cointelegraph, where the user suggests that the wallet contains a backdoor and declares: “You have few hours to return my assets back or I will go public with all the the [sic] evidence against you.” According to information shared with Cointelegraph, on Feb. 23 Maawali requested the company to refund the allegedly stolen crypto assets or their equivalent in dollars, stating that otherwise he has “no choice other than reporting this in social media.” Still, he did not share the details of his findings, saying that he will wait until the company shows its willingness to refund the allegedly stolen funds. Story continues Per Leoussis , Coinomi responded that the company did not consider this to be a responsible disclosure and asked for details concerning the alleged vulnerability. Maawali seemingly responded to the request by stating that he will not disclose details without assurance of a refund. On Feb. 26 Coinomi purportedly declared that the company will report the stolen assets to Chainalysis, which will blacklist the funds so no exchange will accept them. In December 2018, researchers were reportedly able to demonstrate that they were able to hack the Trezor One, Ledger Nano S and Ledger Blue hardware wallets. At the 35C3 Refreshing Memories conference researchers used several different strategies to attempt to compromise the wallets. The Ledger team also claimed that the alleged vulnerabilities discovered in its hardware wallets were not critical. Related Articles: Crypto Brokerage Firm Voyager From Uber’s Former CTO Acquires Wallet Startup Ethos Samsung Announces Galaxy S10 Crypto Partners, Bitcoin and Ethereum Support Hacker Moves 2.09 Mln EOS Following Blacklist Update Failure Unconfirmed: Crypto Startup Enjin to Back Rumored Samsung Galaxy S10 Blockchain Wallet || Avoiding QuadrigaCX’s $190 Million Disaster: How Do the World’s Largest Crypto Exchanges Store Funds?: Canada’s largest crypto exchange QuadrigaCX lost more than $190 million worth of user funds and is unable to reimburse its users. As CCN reported on February 1, the founder and CEO of QuadrigaCX passed away in India with sole control over the company’s cold wallets containing more than $150 million in cryptocurrencies like Bitcoin and Ethereum, and $40 million in cash stored with a third party. How do the world’s largest digital asset exchanges such as Binance and Coinbase store funds to avoid a tragic situation like QuadrigaCX? CEO Should Never Have Sole Access to Crypto on an Exchange A common criticism against the Canadian exchange, which now faces the risk of bankruptcy and bank default, was its structure. Read the full story on CCN.com . || It’s bean confirmed! Starbucks WILL soon accept cryptocurrency… sort of: Coffee chain giant Starbucks will soon accept cryptocurrency – via the Bakkt exchange. The Fortune 500 company, which has more than 28,000 locations throughout the world, told Coin Rivet that it expects crypto to “gain traction” in the next few years. A spokesperson said: “Through our role as a leader in mobile payments to our more than 16 million Starbucks Rewards members, we are committed to innovation for expanding payment options for our customers. “Our role as the flagship retailer for Bakkt is to consult and develop applications for customers to convert their digital assets into US dollars, which can then be used in our stores. “We anticipate that a range of cryptocurrencies will gain traction with customers and, through our work with Bakkt, we will be uniquely positioned to constantly consider and offer customers new and unique ways to pay seamlessly, at Starbucks. “As we continue to move forward with this work, we anticipate we’ll have more to share in the coming months.” Retail revolution More and more retailers are eyeing crypto as a way to avoid high credit card fees. French tobacco retailers now offer Bitcoin vouchers in denominations of 50, 100, or 250 euros after Keplerk struck a deal with a cash register software provider. Customers can convert their vouchers into Bitcoin and store it in wallets on Keplerk’s platform. Around 3,000–4,000 tobacco shops are involved, with more to follow. “Tobacco shop owners are the best channel as they are trusted by customers and they are used to selling vouchers such as credit for mobile phones,” Adil Zakhar, Keplerk’s Director for Strategy and Development, told Reuters . The post It’s bean confirmed! Starbucks WILL soon accept cryptocurrency… sort of appeared first on Coin Rivet . || Top Cryptos See Slight Growth as Bitcoin Approaches $4,000: Saturday, March 9 — most of the top 20cryptocurrenciesare reporting slight gains on the day by press time. Bitcoin (BTC) is approaching the $4,000 mark again, according toCoin360data.
Market visualization fromCoin360
At press time, Bitcoin is up just under one percent on the day, trading at around$3,960, according to CoinMarketCap data. Looking at its weekly chart, the current price is nearly three percent higher than $3,851, the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source:CoinMarketCap
In Bitcoin news,TwitterandSquareCEO Jack Dorseyalludedto spending $10,000 per week on BTC on a podcast earlier this week.
Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13 billion.
ETH is down by a very mild 0.15 percent over the last 24 hours. At press time, ETH is trading around $138, after having started the day around the same price. On its weekly chart, Ethereum has seen its value increase by about 2.5 percent from $133, ETH’s price last Saturday.
Ethereum 7-day price chart. Source:CoinMarketCap
A recent report by crypto asset management firm Electric Capitalclaimedthat Ethereum has the most developers per month working on its core protocol of all cryptocurrencies.
Second-largest altcoin Ripple has gained just over a third of a percent in the 24 hours to press time and is currently trading at around$0.314. Looking at the coin’s weekly chart, its current price is almost identical to the price at which it started the week, down just 0.44 percent.
Ripple 7-day price chart. Source:CoinMarketCap
Recently, Ripple’s CEO,Brad Garlinghouse,saidthat the digital asset being developed byUnited StatesbankinggiantJPMorgan Chase—reportedto potentially be an XRP competitor — lacks the interoperability that would make it a significant innovation.
Among the top 20 cryptocurrencies, the one experiencing the most notable growth is Nem (XEM), which is up nearly 10 percent on the day to press time.
Thetotal market cap of all cryptocurrenciesis pushing $135 billion today, close to four percent higher than $130 billion, the value it reported one week ago.As Cointelegraph recentlyreported, economist and notorious cryptocurrency criticNouriel Roubinihas claimed that crypto “as a technology has absolutely no basis for success.”
• Top Cryptos See Minor Losses as Bitcoin Falls Towards $3,900
• Crypto Markets See Mixed Signals, Gold Hovers Near Multi-Week Low
• Leading Social Investing Platform EToro Launches Crypto Services in 32 US States
• Crypto Markets Mellow After a Surge of Growth, Stock Market Slightly Down || 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 6 th consecutive month in January, its 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 5 th Mays 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, Stellers Lumen and Ripples 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 Trons TRX that led the way, with gains of 3.58% and 3.55% respectively. While Litecoin and Trons 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, theres 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 Bitcoins halving is due in May of next year, Litecoins is due much sooner and is projected to take place in early August of this year. Interestingly, Litecoins 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, Ripples XRP should be performing in line with, if not outperforming Litecoin, when considering Ripple Labs successes and the latest announcement by SWIFT. Story continues 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 Augusts 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 Trons TRX and, while Bitcoin has some way to go before its next halving, Litecoins 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, its going to need more than a halving to garner investor interest. Outside of Litecoins halving later this year, the only other key drivers, at the time of writing, will be the SECs Bitcoin ETF decision and the heavily anticipated rollout of rules and regulations by the G20 in the summer. Both the SEC decision and the G20s rules and regs could pour ice on the effects of Litecoins 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, its 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 Trons 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. Its not the first time that Bitcoin has kicked off the day in the red. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis Inside Trade Suggests Late Session Volatility US Jobs Market Shrugs Off Government Shutdown While Crushing Forecasts GBP/USD Weekly Price Forecast British pound pulls back for the week S&P 500 Price Forecast stock markets rally after strong jobs number Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 02/02/19 Bitcoin The Bulls Hold on, as Litecoin Sees Another Solid Gain || Bitcoin Here Comes the Pain: Bitcoin rose by 0.79% on Sunday to end the day at $3,747.7. Reversing a 0.16% fall from Saturday, Bitcoin ended the week with a 7.03% gain. It was another bearish start to the day for Bitcoin and the broader market on Sunday. Bitcoin fell from a start of a day morning high $3,727.6 to a mid-afternoon intraday low $3,661 before recovering. The pullback saw Bitcoin fall through the first major support level at $3,689.33 to call on support at the second major support level at $3,660.37. Struggling to hold onto $3,700 levels through the afternoon, a late in the day rally saw Bitcoin rally to a late in the day intraday high $3,753.5. The late rally saw Bitcoin break through the first major resistance level at $3,743.63. For the Bitcoin bulls, a recovery to $3,700 levels would have been the positive on the day. Falling short of $3,800 levels for a 2 nd consecutive day, however, suggests a loss of momentum, which would be considered a negative. Elsewhere From the top 10 cryptos, Litecoin wrapped up the week with a 5.2% rally to end the week up 41.5% to head the pack. Not far behind was Binance, which surged by 35.5% in the week to cement its number 10 ranking by market cap, displacing Bitcoin Cash SV. EOS also managed to make solid gains in the week, a 2.72% rally on Sunday giving EOS a 20.6% gain for the week. Bucking the trend on Sunday were Trons TRX and Stellars Lumen. The pair fell by 1.7% and by 0.37% respectively. The poor end to the week left Tron with a 1.74% gain, while Stellars Lumen gained just 0.61%. Another poor showing by Stellars Lumen could see Binance take the number 9 spot to then begin targeting Trons TRX, which has become a victim of its own success. An impressive rally since Novembers swing lo $0.0111 has led to some profit taking, as interest shifts elsewhere. Litecoins halving event later in the year likely to have contributed to some of the shift in appetite. For Binance, its all about its Launchpad platform and its hosting of the FETCH.AI token sale later this month. Binance saw red just once in the past 7 days to deliver this weeks solid gains. Story continues Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin down by 1.38% to $3,696 A broad-based crypto sell-off weighed early, with Bitcoin sliding from a morning high $3,750 to a low $3,687 before steadying. The sell-off saw Bitcoin call on support at the first major support level at $3,687.97 in the early hours to limit more material losses. Bucking the trend in the early hours was Binance. A 2.95% gain at the time of writing, makes Binance the only top 10 cryptos to be sitting in the green at the time of writing. For the day ahead A move back through to $3,720 levels would signal a possible 2 nd half of a day recovery into the green. Barring a broad-based cryptomarket rebound, however, we would expect Bitcoin to come up short of the first major resistance level at $3,780.47. Sundays high $3,753.5 and resistance on the way through to $3,800 levels will likely limit Bitcoins upside in the event of a recovery. Failure to move back through to $3,720 levels will likely see Bitcoin struggle to recover to $3,700 levels. A fall back through the first major support level at $3,687.97 will likely be on the cards should sentiment fail to improve through the day. We would expect the days second major support level at $3,628.23 to be left untested on the day, however, barring a broad-based crypto meltdown. This article was originally posted on FX Empire More From FXEMPIRE: NEO Technical Analysis Support Levels in Play 11/02/19 E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Trading Inside Weekly Retracement Zone at 6792.75 to 7022.25 GBP/USD Price Forecast GBPUSD Range Bound Ahead of UK GDP Update Trading Plan for February 11 AUD/USD and NZD/USD Fundamental Daily Forecast Kiwi Traders Pricing in 42% Chance of RBNZ Rate Hike as Soon as June Deadlines are Fast Approaching
[Random Sample of Social Media Buzz (last 60 days)]
I'm winning iPhone XS，BTC，ETH and other Awards. Join with us!@freecoinhunt https://freecoinhunt.com/?n=3kbh9spa6t.LandingpageShow2&RefId=42znvsp382fx3zxtd2xzf6c5 … || 2019年02月11日 09:00
[BTC建]
1XPC=0.003987円
24時間の最高値 0.0079857円
24時間の最安値 0.0039118円
#XPC $XPC || 現在の1ビットコインあたりの値段は424,105.3631円です。値段の取得日時はFeb 26, 2019 12:02:00 UTCです #bitcoin #ビットコイン || When Bitcoin ETF? Not Any Time Soon, But Maybe by 2020 https://bitrss.com/news/121020/when-bitcoin-etf-not-any-time-soon-but-maybe-by-2020 … || #DolarTrue
27/01/2019 07:08 AM
Dolar en BsS : 2761.12
BTC Compra en BsS : 9,703,772
--NUEVOS INDICADORES --
Euro : 3111.48
Peso Col : 1.2
Soles : 735.33
Peso Chile : 3.6528 || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : -0.12 % || 05-02-2019 19:00
Price in #USD : 0.0447290905 || Price in #EUR : 0.0392229395
New Price in #Bitcoin #BTC : 0.00001294 || #Coin Rank 692 || Bitcoin: $3,981.00
-0.31% (-$12.40)
High: $4,031.53
Low: $3,959.07
Volume: 368
$BTC #BTC #bitcoin || Bitcoin - BTC
Price: $3,923.83
Change in 1h: -0.07%
Market cap: $68,969,981,394.00
Ranking: 1
#Bitcoin #BTC || USD: 109.880
EUR: 125.580
GBP: 143.305
AUD: 79.322
NZD: 75.553
CNY: 16.286
CHF: 110.067
BTC: 375,406
ETH: 11,740
Tue Feb 05 04:00 JST || That looks like $BTC chart ?
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Trend: up || Prices: 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Jack Dorsey and Jay-Z under fire for bitcoin education program in Brooklyn public housing complex: • Jack Dorsey and Jay-Z launched a bitcoin educational program in a Brooklyn public housing complex.
• It offers free summer classes for residents focusing on bitcoin and financial education.
• Critics say the program may not be the best way to help low-income communities.
Jack Dorsey and Jay-Z are facing questions after launching an educational program in a Brooklyn public housing complex the billionaires say will help marginalized communities achieve financial independence through cryptocurrencies.
The Bitcoin Academy program will first be open to residents of Marcy Houses, where the rapper and entrepreneur whose real name is Shawn Carter grew up, according to itswebsite.
Organizers said residents can attend free financial education classes that focus on bitcoin twice a week over the summer. They said they plan to expand the project to other neighborhoods.
Dorsey and Jay-Z are funding the program themselves.Dorsey, the cofounder of Twitter and CEO of payments company Block, is worth an estimated $5 billion, whileJay-Z's net worth is about $1.3 billion, according toForbes.
"Education is where we start. This isn't just about bitcoin … it's about long-term thinking, local economies, and self-confidence," Dorseytweetedon Thursday.
He and Jay-Z are longtime proponents of bitcoin. Last year, the pair set up a bitcoin endowment to fund cryptocurrency projects in Africa and India,TechCrunchreported.
However, the value of the program has been questioned by some critics. Cryptocurrencies are largely unregulated and their value is extremely volatile.
Bitcoin is trading at about$30,000, more than 40% lower than its recent peak of about $69,000 in November. "The way bitcoin fluctuates … I am just having a really hard time seeing the point in this," said Twitter userGabbyabout the program.
Others have also asked whether the two billionaires should help vulnerable communities more directly. "If you asked Marcy Houses residents how to best meet their needs, how many would say 'a bitcoin class'?" crypto enthusiast Austin Robey asked Dorsey in adirect tweet.
There are also concerns that putting cryptocurrencies into the hands of marginalized communities could make them more vulnerable to financial fraud.
Last year, scammersstole cryptocurrenciesworth in excess of $1 billion from more than 46,000 people, per a June 3 report from theFederal Trade Commission.
Tonantzin Carmona, a fellow at Brookings Metro, toldTechCrunch: "They're saying you're going to have financial freedom, but that also means you're getting access to cryptocurrency's volatility and complexity. You're getting access to a space that is rife with scams, fraud, hacks and all sorts of things, because there aren't consumer protections in place."
Read the original article onBusiness Insider || Bitcoin Investors Eye 200-Day Average After Three-Day Rally, Analyst Says: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bullish signals for bitcoin have emerged, favoring a continued price rally toward the widely tracked 200-day simple moving average (SMA), according to a technical analysis by Katie Stockton, founder and managing partner of Fairlead Strategies.
The daily chart shows the leading digital asset has risen from $38,500 to $42,200 in the past three days, defending the Ichimoku cloud support.
Created by Japanese journalist Goichi Hosoda in the late 1960s, the Ichimoku cloud comprises two lines – the leading span A and the leading span B. Both are plotted 26 days ahead of the last candle. The indicator is widely used to identify support and resistance, with crossovers above or below representing an advance warning of bullish or bearish breakouts.
The latest bullish defense is backed by positive signals from technical tools like stochastics and MACD (moving average convergence/divergence) histograms.
"Bitcoin held important cloud-based support near $40,000 and has generated an oversold 'buy' signal from the daily stochastics after a three-day rally, supporting a short-term bullish bias," Stockton said in an email. "The daily MACD is pinched as well, reflecting improved short-term momentum that supports a move higher toward next resistance near $48.1K, defined by the 200-day MA."
In technical analysis, stochastics are indicators that oscillate between 0 and 100, helping traders identify oversold and overbought conditions and trade entry and exit points. An asset is considered to be oversold when stochastics drop under 20 and overbought when they top 80. A turn higher from under 20 is taken as a buy signal.
The MACD histogram is used to identify trend changes and trend strength. The indicator's positive/negative flips indicate bullish/bearish trend changes. Meanwhile, the "pinch" – declining bars or lower highs above the zero line and higher lows below the zero line represent bullish and bearish exhaustion.
The three-day rise has brought the 200-day SMA of $48,000 into focus. In late March, the average proved a tough nut to crack, stalling the recovery rally from lows near $37,500.
On the downside, Monday's low of $38,550 is the level to beat for the sellers.
Bitcoin was recently trading near $42,300, representing a 2% gain on the day, according to CoinDesk data. || US stocks rise led by tech as jump in Meta shares pulls Nasdaq higher: • Stocks rose Thursday, fronted by gains in the tech-rich Nasdaq Composite.
• Meta's stock jumped following stronger-than-expected user activity in the first quarter.
• Earnings from Apple, Amazon, and Twitter were on deck for investors. Meanwhile, US GDP contracted in Q1.
Stocks rose Thursday, with tech shares higher after Facebook's parent company posted user figures that surpassed expectations, bolstering hopes for solid updates from other sector behemoths just as a losing month for stocks nears its end.
The Nasdaq Composite gained after posting losses in the past two sessions. It was getting a lift Thursday fromMeta Platforms, formerly Facebook, whose shares soared after the company posted a first-quarter rise indaily active users by 3 millionfrom the last quarter to 1.96 billion, beating analyst expectations of 1.95 billion. Per-share earnings of $2.72 were above the $2.56 estimate from FactSet but revenue of $27.91 billion fell short of Wall Street's consensus target.
Meta's stock surge arrived ahead of earnings due after today's closing bell fromAmazonandApple.Twitterrose after its first-quarter report was released. The social media platform was in focus this week after it agreed to sell itself to billionaire investor andTeslabossElon Musk for $44 billion.
Here's where US indexes stood at 9:30 a.m. on Thursday:
• S&P 500:4,231.90, up 1.15%
• Dow Jones Industrial Average:33,456.67, up 0.46% (154.74 points)
• Nasdaq Composite:12,681.16, up 1.54%
"Today is another one of those days where traders are going to pay more attention to earnings than any other economic headwinds," said Naeem Aslam, chief market analyst at AvaTrade, in a note.
Investors appeared to set aside the Commerce Department's report that USgross domestic product shrank by 1.4%in the first quarter of 2022, a contraction that was unexpected.
"As for Apple and Amazon, there are two similar fundamentals. Firstly, how are these companies digesting inflation, and how are rising inventory prices influencing their profit margins. Secondly, if these companies are positioned well to face a higher interest rate environment," Aslam said.
Among Dow industrials,McDonald'sgained after first-quarter results. Heavy equipment makerCaterpillar's earnings also beat expectations but the stock was lower.
The potential advances for Wall Street's big indexes would help curb what's set to be a down month of April, led by a 12% tumble in the Nasdaq Composite as it tilts back into a bear market.
Oil prices fell.West Texas Intermediate crudeshed 0.4% to $101.64 per barrel.Brent crude,the international benchmark, lost 0.5% to $104.82.
Goldedged up 0.1% to $1,891.20 per ounce. The10-year yieldfell 7 basis points to 2.82%.
Bitcoinrose 1.5% to $39,690.35.
Read the original article onBusiness Insider || CleanSpark Finalizes $35 Million in Financing from Trinity Capital: The move delivers on CleanSpark’s commitment to rightsizing its capital structure
LAS VEGAS, April 26, 2022 (GLOBE NEWSWIRE) --CleanSpark, Inc.(Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and energy technology company, today announced that it has finalized $35 million in non-dilutive financing fromTrinity Capital Inc., (Nasdaq: TRIN) ("Trinity"), a provider of venture debt financing. The three-year equipment financing agreement is backed by 3,336 new S19j Pro miners and carries an annual interest rate of 9.9%.
CleanSpark intends to use the proceeds from the facility for growth capital expenditures. Currently, CleanSpark has a fleet of over 23,000 latest-generation bitcoin mining machines in operation, with approximately 12,000 machines pending delivery and deployment in batches through October 2022.
“As we mentioned in our Q1 earnings call, debt capital is currently the lowest cost of capital available to the Company,” said Gary Vecchiarelli, CFO of CleanSpark. “This non-dilutive facility is an example of us delivering on our capital strategy and the expectations we have previously communicated. We intend to continue our efforts of obtaining non-dilutive capital to finance our growth capex needs. It is worth noting that we have not drawn on our ATM since November.”
“We are excited to partner with the team at CleanSpark, which is on a mission to mine bitcoin responsibly, using a mix of sustainable energy including nuclear, hydroelectric, solar, and wind,” said Ryan Little, Managing Director of Equipment Financing at Trinity Capital. “Cleanspark is an excellent addition to our portfolio and recently earned a spot among the top 50 fastest-growing companies on a Financial Times’ list. We look forward to being a part of their growth story.”
The financing is intended to strengthen CleanSpark’s sustainable business strategy whereby the Company converts some of its bitcoin (BTC) holdings to fund operations and expansion, with a goal of limiting shareholder dilution and stably maximizing returns for shareholders.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding our future results of operations and financial position, including the use of proceeds from the loan, the availability and delivery of new mining equipment, industry and business trends, our business and financial/capital strategy, market growth and our objectives for future operations.
The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that 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, including, but not limited to: the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate, increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; the successful deployment of energy solutions for residential and commercial applications; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on logistics and shipping and the demand for our products and services; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.
You should read this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.
About CleanSpark
CleanSpark, Inc. (Nasdaq: CLSK), a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is solving modern energy challenges. For more information about the Company, please visit the Company's website athttps://www.cleanspark.com/investor-relations.
Investor Relations Contact
Matt Schultz, Executive Chairmanir@cleanspark.com
Media Contacts
Isaac Holyoakpr@cleanspark.com
BlocksBridge ConsultingNishant Sharmacleanspark@blocksbridge.com
CONTACT: Isaac Holyoak CleanSpark, Inc. 702-989-7694 pr@cleanspark.com || ComplexLand Has Evolved Into a Metaverse Shopping Experience: When Complex was first building ComplexLand , the virtual shopping experience created in 2020 to substitute for the popular ComplexCon shopping event due to the pandemic, words like “ metaverse ” and acronyms like “ NFT ” weren’t yet mainstream. Then in January 2021, one month after the first ComplexLand experience, the mainstream media caught up to Web3.0, NFTs and all things in the metaverse as well as the gamified shopping experience that Complex developed in lieu of its revenue-generating ComplexCon . More from WWD Scenes from Decentraland's Metaverse Fashion Week They Are Wearing: ComplexCon 2018 They Are Wearing: ComplexCon 2017 Complex continued to mine its success in the virtual world earlier this month when it hosted ComplexLand 3.0 from Wednesday to Friday, with returning elements from its first iteration that included users creating an avatar they could take to virtual shops to buy from brands such as Atmos, Market, Billionaire Boys Club, Pacsun, Pleasures and Round Two. At this edition, Complex also tapped sexual health campaign Healthysexual to curate the District section with five LGBTQ artists and designers — Willy Chavarria, Coco and Breezy Eyewear, Daniel Fletcher, K.ngsley and Fruitloots — and extended the partnership with UPS into the virtual world that began at ComplexCon in 2021 with a select group of emerging designers and underrepresented entrepreneurs, including Brownstone, Circulate, Colle and Compton Cowboys. The event also featured NFT artworks by Chuck Styles, Naturel, Marly Mcfly, Numan Khan and Shantell Martin in an NFT Museum section. “I was looking at the time spent on the platform and it’s much higher than last year and the bounce rate was much lower,” said Neil Wright, head of collaborations and experiential for Complex Networks. “People have a higher intent of participating. We tried to remove as many barriers, being free and accessible, logging in with email or a Facebook profile, and it seems like the people are excited to attend.” Story continues PacSun, a longtime participant of ComplexCon, introduced its first activation in ComplexLand, which it sees as “a unique intersection between fashion, technology, community, music and gaming in the metaverse,” the brand said. ComplexLand helps the retailer expand its digital footprint beyond Pacworld in Roblox, PS the Game and its real estate purchase in Sandbox, and allows it to showcase its PS Mall Rats NFT series that was on display in the NFT Museum on Friday. “Our NFT Mall Rat feature in the museum gallery included an exclusive hype sneaker from partner PS Reserve with purchases,” the brand said. “We exceeded our revenue goals in the first 18 hours, and are very pleased with our partnership with ComplexLand,” the retailer added. “Our audience is loving the ability to customize their own avatars and access their favorite brands — we featured exclusive drops from Cloud9 gaming, PS Reserve hype drops, and Playboy merch, alongside our Pacsun monogram capsule.” Frequent ComplexCon participant Atmos activated at ComplexLand for the third time. The global retailer owned by Foot Locker sees ComplexLand as a testing ground for new products, like its branded apparel and collaborative products with New Balance, Be@rbrick and Fisk. The company also saw the event this year as an opportunity to explore the metaverse. “This was our first opportunity to tap into the metaverse, which was super innovative for Complex to dive into so early with their first ComplexLand activation in 2020,” the retailer said. “It’s incredible to see how much the NFT space has exploded in the last two years. We’re now in the middle of launching our own Atmos NFT project and are excited for new ways to connect with consumers outside of the traditional brand/brick-and-mortar selling spaces.” Martian Toys activated for the third time at ComplexLand featuring collaborations with Tokidoki ahead of its third activation at ComplexCon this year in November. The company also gave away free NFTs to consumers with select purchases. “The response has always been great,” said Martian Toys wholesale manager Kevin Phillips. “We see the shopping experience ComplexLand delivers as the future of e-commerce — giving consumers an experience to go shopping versus just simply scrolling up and down a website. This is an immersive experience with our fans to experience shopping in a totally new way.” Vandy rereleased its Kakigori shoes at a virtual booth that served as a precursor to its ComplexCon activation coming this year and the eventual introduction of VandyLand, the metaverse it is developing. “Since the metaverse is expanding, this is a great platform to start learning about it for beginners and also brand owners like us,” Vandy said. ComplexLand is much more palatable today as Web3.0 and NFTs grow in conversation and in brand and consumer participation. In 2021, artists made millions of dollars from their digital artworks and collectibles, brands dabbled in the space by introducing their own NFTs and partnered with artists to create artworks with uses beyond just collecting. Cryptocurrencies and networks like Ethereum and Solana are mentioned regularly in conversation with top dog crypto Bitcoin and metaverses like Decentraland debuting their first fashion weeks. The first iteration of ComplexLand looked like a video game with in-game purchases, which Wright said the younger generation is privy to with virtual goods, in-app purchases and downloadable content. But where ComplexLand sees an opportunity over gaming and the metaverse is what Wright describes as bridging “IRL with the URL,” one of Complex’s missions. “I’ve got so many thoughts for the future and as we continue to develop the future of ComplexLand for 4.0,” Wright said. “If you can wear what your avatar is wearing, it’s different, especially for true gamers. It’s more fun that way. You want a tangible thing that’ll transcend the representations of you.” A few innovations introduced in 2.0 that returned in this edition are the gamified aspects of the platform — users can collect coins in the virtual world and unlock new styles for their avatars, like an Adidas yeti suit hood or foam hats — and multiplayer, a regular part of gaming since the 1980s and 1990s, as a controller adapter that was built into the Nintendo 64 gaming console in 1996. “We really wanted to make it a bit more of a video game where people will have more to do during the experience,” Wright said. He explained that users in the first iteration were interacting and connecting on the chat, and feels that form of community was important. ComplexLand 3.0 also had a feature where visitors could invite 50 friends to shop and explore the world together without the other users and even host a private party within the world. One feature that didn’t make it this time around was panel discussions. “People are there for shopping,” Wright said. “I didn’t involve any panels this go-around. We would receive post-show feedback and people came for the shopping and not the panels. They were pre-recorded and not live so I think if it was live the spontaneity would raise viewership. It becomes such an expensive experience and we really want to invest in the things the users want.” Every year, ComplexLand has sections like Sunset Lagoon, The Boro and Astral Market, each with different brands and shops, but The District was redone in this edition and had an activation from UPS. “We were the official shipping partner for ComplexLand,” said Betsy Wilson, vice president of digital marketing and brand activations at UPS. “We’re always looking for innovative ways to impact culture. The metaverse is a natural next place to go. We do a lot of training through virtual and augmented reality. The idea isn’t new to us, but marketing activations are.” “UPS is doing a great job of assimilating,” Wright added. “At ComplexCon, they gave grants to key brands to participate and built out their activations and did a similar integration for ComplexLand. They’re a great utility partner and not an obvious fit in a lifestyle perspective but they’re so ingrained in the back end.” And for the Healthysexual curated section, Wright said LGBTQ brands haven’t been a focus or well-represented at ComplexCon and ComplexLand over the years, but this section shines a spotlight on designers in streetwear and street culture. “It’s a really good way for us to make sure we’re as diverse as possible and give every underrepresented group a spotlight in the platform we’re building.” Wright added about ComplexLand this year, “Web3.0 is supposed to be decentralized, but nothing is shared across platforms yet. From a commerce perspective, it’s compartmentalized. But if you can bridge physical with virtual, it’ll have a larger adoption rate.” Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram . Click here to read the full article. || USD/CAD Rebounds as the Dollar Holds Its Ground Following Hot PCE Data: Key Insights Gold prices pulled back amid a stronger dollar. Treasury yields were mixed as global uncertain weights on sentiment. Oil prices traded lower despite lingering geopolitical tensions and uncertain demand outlook in China. USD/CAD pulled back and then recovered after the dollar eased due to profit-taking among investors. The upcoming 50-basis point Fed rate hike underpins a bullish outlook for the dollar. Treasury yields traded relatively flat following inflation data reaffirming hot inflation. Gold prices rose as the dollar moved lower. Gold prices are on track for a monthly drop. However, global economic weakness and stock volatility underpin gold as a safe-haven asset. Oil prices rose due to fears of a disruption in Russian oil supply. However, oil market volatility is set to continue amid concerns over demand from China’s ongoing lockdowns. Core PCE, which is the Fed’s preferred inflation gauge that excludes food and energy, increased by 5.2% in March year-over-year. The employment cost index, which measures the compensation cost for nongovernment workers, rose by 1.4%, and real disposable income declined by 0.4%. The PCE, which influences food and energy, increased to 6.6% year-over-year, which is the fastest pace since 1982. The rise in inflation at a faster pace than the Fed would like reaffirms the Fed’s plan to aggressively tighten rates at its meeting in May. Large rate hikes would rein in spiraling inflation. Technical Analysis The USD/CAD slightly extended gains near the 1.285 area as the dollar recovered from its pullback earlier in today’s trading session. The currency pair is headed for its fifth consecutive weekly gain. The pair has a bullish outlook with Fed tightening acting as a tailwind for the dollar. Resistance is seen near the March 8th high near 1.290. Support is seen near the 10-day moving average of 1.27. A pullback to the 10-day moving average is an opportunity for investors to buy the dip. Story continues Short-term momentum is turning positive as the fast stochastic might have a crossover buy signal. Medium-term momentum is positive as the MACD line generated a crossover buy signal. This scenario happens when the MACD line (the 12-day moving average minus the 26-day moving average) crosses the MACD signal line (the 9-day MA of the MACD line). The trajectory of the MACD is in positive territory, which reflects an upward trend in price movement. This article was originally posted on FX Empire More From FXEMPIRE: Man shot dead near West Bank settlement, Israeli medics say British Virgin Islands should be temporarily returned to UK rule, inquiry says Bitcoin (BTC) Is on the way to Joining the NASDAQ in the Red for April Fatal incident at military college in Canada leaves four cadets dead Analysis-Russia’s Ukrainian quagmire providing tough lessons for China Russia looks to swerve default with last-minute dollar bond payment || AQX Open Beta Launches and How To Use AQX Cryptocurrency Exchange Platform: AQX AQX Open Beta officially launches to the public on 18th May 2022. Previously, the only way that the public could create an account with AQX is through a special sign up link. Gibraltar, May 20, 2022 (GLOBE NEWSWIRE) -- AQX Open Beta Launches With the launch of the Open Beta version, users can create an account and start trading on AQX platform. What is AQX AQX is a new cryptocurrency exchange platform that seeks to address various issues that the team believes are preventing the crypto space from going mainstream. These issues include: Inability of users to maximize their capital efficiently Inadequate risk protection for users Lack of liquidity in many new exchange platforms With the backing of Presto Labs , AQX has implemented a unique liquidation system to cushion its users from any potential market volatility and risks. The crypto exchange platform also provides its users with a multi-collateralized wallet that allows users to enhance their capital efficiency. Thanks to the experience and expertise of its world-class founding team, AQX has become a fully functional platform and has attracted the attention of many investors. At its core, AQX is a cryptocurrency exchange platform and the team is focused on providing users with the best experience such that AQX will be the first and last cryptocurrency exchange that you’ll need. How to Join AQX Beta Users have to log in to the platform to trade futures on AQX Beta. The registration process involves creating a valid username and password and is completed by verifying your email address. Before trading futures, users need to create a margin for their trades. Margin refers to the security that a financial instrument holder must deposit to establish a leveraged position. AQX has listed various financial instruments such as USD: USDC>BUSD (stablecoin), USDT, BTC, XRP, ETH, TRX, and LINK. All these financial instruments are eligible for margin trading and have a maximum leverage of up to 100x (conditional on each instrument.) Story continues How to Make Deposits on AQX Beta Simply connect your wallet, find the deposit address and scan the QR code for your preferred coin to start making deposits on AQX Beta. Note that users have to complete KYC level 2 to make successful deposits on AQX. More so, withdrawals are barred for 24 hours after performing the first deposit to avoid financial crimes like money laundering and phone fraud and preserve consumer assets. For more information, visit the AQX’s 'Deposit' page. Once you have made a deposit and set up margin in your account, you can start trading futures on AQX Exchange Beta. The main trading page allows you to view information on the products you want to trade and your orders and assets, including your wallet balance, margin balance, unrealized P/L, etc. You can also customise the page to dark/day mode from the Settings tab and view the details of open and closed trades. You can follow us on our social media channels to keep up to date with the latest happenings on AQX. Follow AQX on: Twitter: https://twitter.com/AqxCom Telegram Announcement: https://t.me/aqxannouncement Facebook: https://www.facebook.com/AQXofcl Instagram: https://www.instagram.com/aqx_official/ Medium: https://medium.com/aqx-official Discord: https://discord.gg/mn5CNScMev Youtube: https://www.youtube.com/channel/UC_3J-wzFgDu2P8NF_CrjAYg/featured Reddit: https://www.reddit.com/r/AQX_official/ TikTok: https://www.tiktok.com/@aqx_official Linkedin: https://www.linkedin.com/company/aqx-official/ CONTACT: Linus Lim media -at- aqx.com || Stocks slide, long-dated yields rise on inflation concerns: By Herbert Lash NEW YORK (Reuters) - Long-dated U.S. Treasury yields surged and global stock markets slid further on Friday as investors worried the Federal Reserve may not be able to curb inflation in the years ahead even as U.S. data showed decelerating wage growth in April. Labor Department data showed the unemployment rate fell last month to its pre-pandemic low of 3.5% as job growth moderated. Average hourly earnings rose 5.5% from a year ago, slightly slower than the previous month's increase. The data underscored challenges the Fed and other central banks face as they battle rising inflation with China's lockdowns causing persistent supply chain disruptions and the war in Ukraine pressuring food prices. The inflation outlook past the next two years is beginning to look cloudier for bonds, at least for bond traders, said Jim Vogel, interest rate strategist at FTN Financial. "We have taken into account, not necessarily the inability of the Fed to fight inflation, but an inflation problem that for right now is beyond central banks to calm for the rest of the decade. That's pretty bleak," Vogel said. The yield on benchmark 10-year Treasury notes rose 5.3 basis points to 3.121%, a rate last seen in November 2018 after sharply rising from about 1.5% at the end of 2021. The Fed hopes to slow inflation by tightening monetary policy. Market volatility has increased on fears too much tightening could cause a recession. Trade was volatile on Wall Street. The major indexes rose briefly into the green and the Nasdaq fell as much as 2.66%. The Nasdaq and S&P 500 posted their fifth straight week of declines, and the Dow its sixth. It was the longest losing streak for the S&P 500 since mid-2011 and for the Nasdaq since late 2012. The Dow Jones Industrial Average fell 0.3%, the S&P 500 lost 0.57% and the Nasdaq Composite dropped 1.4%. "The market is focused on the Fed being behind the curve and that's why the market is down," said Keith Lerner, chief market strategist and co-chief investment officer at Truist Advisory Services. Story continues Fed funds futures priced in a roughly 75% chance of a 75 basis-point interest rate hike at next month's Fed policy meeting - even after Fed Chair Jerome Powell said Wednesday the U.S. central bank was not considering such a move. [FEDWATCH] The pan-European STOXX 600 index fell 1.91% as regional shares chalked up their worst week in two months. MSCI's gauge of global equity performance shed 0.99% and emerging market stocks lost 2.57%. Russell Price, chief economist at Ameriprise Financial, said the unemployment report showed the U.S. labor market is solid. "Over the last few months we have seen the month-over-month pace of average hourly earnings starting to decelerate somewhat," he said. "That's a positive indicator that this surge in hourly wages that we experienced may finally be easing." The dollar slipped against a basket of currencies after two volatile days as investors focused on how aggressive the Fed will be in hiking rates. The dollar index hit a 20-year high overnight on safe haven demand, the day after a sharp stock selloff driven by rising U.S. interest rates and as European currencies weakened on worries about growth in the region. The dollar index rose 0.077%, with the euro up 0.06% to $1.0546. The yen weakened 0.31% at 130.56 per dollar. The European Central Bank should raise its deposit rate back into positive territory this year, French central bank chief Francois Villeroy de Galhau said, indicating his support for at least three rate hikes in 2022. The Bank of England raised rates by 25 basis points on Thursday as expected, but two policy makers expressed caution about future rate hikes. Oil prices climbed for a third straight session, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply. U.S. crude futures rose $1.51 to settle at $109.77 a barrel and Brent settled up $1.49 at $112.39. Gold rose on a weaker dollar but the prospect of aggressive rate hikes from the Fed led bullion to post its third straight weekly decline. U.S. gold futures settled 0.4% higher at $1,882.80 an ounce. Bitcoin fell 1.76% to $35,891.06. Germany's 10-year government bond yield rose to 1.082%, its highest since 2014. (Reporting by Herbert Lash, additional reporting by Alun John in Hong Kong and Sujata Rao in London; Editing by Chizu Nomiyama, Nick Zieminski and David Gregorio) || American Premium Mining Corp. (OTC: HIPH) Completes Acquisition of CloudXchange DataCentre Inc. and Begins First Phase of Crypto Mining in Singapore: PLAYA VISTA, CA, May 08, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Premium Mining Corporation (OTC:HIPH) ("APM" or the "Company”) is pleased to announce that CloudXchange DataCentre Inc. (“CloudX”), a wholly owned subsidiary that engages in crypto-mining and staking related activities has received delivery and completed the installation of its first phase of crypto mining rigs in Singapore, with all of them now being fully operational. On April 24, 2022, the Company announced its plans to acquire CloudX to focus on crypto-mining related businesses with an earnings guarantee of US$1.5 Million for the first 12 months by the Seller. As part of CloudX risk management strategy, CoudX has diversified its crypto mining rigs operations across multiple currencies, geographies, and service providers. The first phase of crypto mining rigs in Singapore consists of a combination of the following mining rigs: Innosilicon A11 crypto mining rigs, mining Ethereum (“ETH”); Bitmain Antminer L7 crypto mining rigs, mining Litecoin (“LTC”) and Dogecoin (“DOGE”); Goldshell KD6 crypto mining rigs, mining Kedana (“KDA”). Moving forward, CloudX will be focusing its efforts to complete the second phase of crypto mining acquisition plan, consisting of Bitmain S19J Pro crypto mining rigs, mining Bitcoins (“BTC”). Bitmain is one of the world leading manufacturers of cryptocurrency mining rigs, with S19J Pro being a top-of-the-line model and considered to be one of the most productive and energy-efficient mining rigs in the market. Ryan Fishoff, CEO of APM, commented, “APM is excited to announce the completion of the CloudX acquisition. This will be transformative for the Company. APM has already announced a name change to reflect the change in strategic focus. Now that the acquisition of CloudX is complete, the Company is focusing on crypto mining. The first phase of our plan has already begun, and we look forward to adding more miners to our portfolio to reach our $1.5 million earnings target. I look forward to updating shareholders about our progress integrating CloudX and the next phase of our integration.” CloudX is on track to scale up its mining operations to meet the US$ 1.5 Million earnings target within the first 12 months of full operation and will continue to proactively explore new partnerships and integration with renewable energy as part of the Company’s focus on sustainability while maximizing shareholder value. About CloudXchange DataCentre Inc. CloudXchange DataCentre Inc. is a holding company which is engaged primarily in investment within the cryptocurrency industry with a focus on crypto-mining and staking activities. CloudX endeavors to leverage the potential of the cryptocurrency space to generate predictable revenues and operating income. Story continues About American Premium Mining Corporation American Premium Mining Corporation (“APM”) is focused on supporting the blockchain ecosystem through proof-of-work and proof-of-stake mining of the leading cryptocurrencies. APM is at the forefront of the digital finance revolution. Forward-Looking Statements This press release includes statements that may constitute "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 are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Contact Information American Premium Water Corporation 12777 Jefferson Boulevard Building D Playa Vista, CA 90066 Email: info@americanpremiumwater.com View comments || Bitcoin and ETH Restart Decline, UNI Bulls Eye Upside Break: • Bitcoin declined sharply below $29,800 and $29,500.
• Ether (ETH) weakened over 7% and spiked below $1,800.
• UNI might gain bullish momentum if it clears $6.00.
After struggling to surpass the $30,000 resistance,bitcoinprice started a fresh decline. There was a clear move below the $29,800 and $29,500 levels.
The price declined heavily below $29,000 and the 21 simple moving average (H1). There was a spike below the key $28,550 support zone. Bitcoin is now back above $28,500, but the current price action is still bearish.
Besides, there is a key bearish trend line forming with resistance near $29,500 on the hourly chart. On the downside, there is a major support at $28,550. A daily close below $28,550 could start a major decline.
ETHalso started a fresh decline from the $2,000 resistance level. The bears were able to push the price below the $1,900 support level and the 21 simple moving average (H1).
There was a sharp bearish reaction below the $1,850 level. The price even spiked below the $1,800 level and the price tested $1,750. It is now consolidating losses near the $1,800 level. On the upside, there are many hurdles forming near $1,900, a connecting bearish trend line on the hourly chart, and the 21 simple moving average (H1).
On the downside, there is a key support near the $1,750 level, below which the price could restart downtrend.
UNIstarted a strong decline after it topped near the $8.00 level. The bears pushed the price below the $7.50 and $6.00 support levels.
It even moved below the $5.00 level and the 21-day simple moving average. Finally, there was a spike below the $4.00 level and the price tested the $3.70 zone. Recently, the price started a recovery wave above the $5.00 resistance.
It gained over 10% and was able to clear the 23.6% Fib retracement level of the downward move from the $8.00 resistance zone to $3.70 low. On the upside, the $6.00 level and a major bearish trend line on the daily chart hold the key for the bulls.
A close above the trend line might start a fresh increase towards the $8.00 resistance. The next major resistance is near the $10.00 level. If there is no upside break, the price could restart decline and test the $4.00 level.
Cardano (ADA)declined over 6% and there was a move below the $0.488 support. The next major support sits near $0.465.
BNBis moving lower towards the $302 and $300 support levels. A downside break below the $300 level could start a major decline.
Polkadot (DOT)settled below the $10.00 level. The price is now showing bearish signs and might even test the $9.00 support.
A few trending coins areXMR,SAND, andCELO. Out of these, SAND is up over 5% and trading above the $1.32 resistance level.
Thisarticlewas originally posted on FX Empire
• Fed may pause policy tightening in September, BofA says
• Tesla submits application to expand German plant – rbb
• Military situation in East Ukraine is very bad – Ukrainian foreign minister
• Exclusive-U.S. and Ukraine discuss danger of escalation as new arms extend Kyiv’s reach
• Toronto police shoot man carrying gun near school
• Polish Parliament approves judicial reforms to unblock EU funds
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 22487.39, 22206.79, 22572.84, 20381.65, 20471.48, 19017.64, 20553.27, 20599.54, 20710.60, 19987.03
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-10-16]
BTC Price: 5725.59, BTC RSI: 76.32
Gold Price: 1299.90, Gold RSI: 54.68
Oil Price: 51.87, Oil RSI: 59.44
[Random Sample of News (last 60 days)]
Bitcoin Soars Close to Record High: What wipeout? Buyers blew off fresh warnings about a bitcoin bubble and sent prices above $4,800 on Monday, capping a bullish October run for the digital currency.
Prices reached as high as $4,820, which is near the record territory of late August when bitcoin brushed close to $5,000. The currency crashed dramatically in September following a crackdown on digital currency by China.
Here’s a closer look, courtesy of trade publicationCoindesk, at how bitcoin rallied over the last week:
Here’s a longer a view that shows bitcoin’s extraordinary run-up this summer, its crash to near $3,000, and its subsequent recovery:
There is no obvious single explanation for the latest price surge. Possible factors include last week’s rumors thatGoldman Sachsplans to trade bitcoin as well as growing confidence that a possible “fork” of the currency in November, which would create a new version of bitcoin, won’t prove disruptive. As one wag on Twitter put it:
Meanwhile, a source familiar with bitcoin price movements, toldFortunethat China’s recent crackdown is not as severe as it first appeared. The source, who spoke on condition of anonymity BECAUSE WHY???, said the crackdown may have been driven in part by Chinese government insiders who sought to profit from the resulting price swings.
Get Data Sheet, Fortune's technology newsletter.
In any case, not everyone is optimistic about bitcoin’s future. A Harvard economist predicted on Monday that the price of bitcoin will “collapse,” while analysts at TD Ameritrade warned of “collateral damage” to certain stocks if bitcoin prices plunge.
Bitcoin, of course, has experienced no shortage of naysayers in the past. For a longer term view, check out The Ledger’s recent retrospective, “5 Bitcoin Crashes: What We Learned.”
This is part ofFortune'snew initiative,The Ledger,a trusted news source at the intersection of tech and finance. For more onThe Ledger,click here.
See original article on Fortune.com
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• Here's Another Sign Goldman Sachs Is Taking Bitcoin Seriously || Jamie Dimon says he's not going to talk about bitcoin anymore: Jamie Dimon , chairman and CEO of JPMorgan Chase (NYSE: JPM) , said he is no longer going to discuss bitcoin after his comments last month that the digital currency was a "fraud" caused quite the stir on Wall Street and Silicon Valley. "I wouldn't put this high on the category of important things in the world. But I'm not going to talk about bitcoin anymore," said Dimon in response to a question during the bank's third-quarter earnings call with media on Thursday. JPMorgan CFO Marianne Lake then took over the conversation. "We are open-minded for digital currencies that are properly controlled and regulated," she said, also discussing the potential merits of blockchain, the technology behind bitcoin. Blockchain technology allows the immediate, secure transfer of funds anywhere in the world without a third party such as a bank to facilitate the transaction.Dimon had the last word. "I was reminded that we move trillions of dollars a day ... digitally. It's not cash." Dimon told an investor conference last month that bitcoin was a fraud "worse than tulip bulbs." His comments ran contrary to many on Wall Street who have begun to embrace, or at least experiment, with bitcoin and the blockchain technology it utilizes. Jamie Dimon , chairman and CEO of JPMorgan Chase (NYSE: JPM) , said he is no longer going to discuss bitcoin after his comments last month that the digital currency was a "fraud" caused quite the stir on Wall Street and Silicon Valley. "I wouldn't put this high on the category of important things in the world. But I'm not going to talk about bitcoin anymore," said Dimon in response to a question during the bank's third-quarter earnings call with media on Thursday. JPMorgan CFO Marianne Lake then took over the conversation. "We are open-minded for digital currencies that are properly controlled and regulated," she said, also discussing the potential merits of blockchain, the technology behind bitcoin. Blockchain technology allows the immediate, secure transfer of funds anywhere in the world without a third party such as a bank to facilitate the transaction. Dimon had the last word. "I was reminded that we move trillions of dollars a day ... digitally. It's not cash." Dimon told an investor conference last month that bitcoin was a fraud "worse than tulip bulbs." His comments ran contrary to many on Wall Street who have begun to embrace, or at least experiment, with bitcoin and the blockchain technology it utilizes.More From CNBC
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• Bitcoin mining IPO falls short || EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – September 5, 2017: The market gapped higher little on the start of Monday’s session but it got difficult near the 1.1920 levels to cross over and pulled back. The 1.20 level is a massive resistance for the pair and breakout above the level will be a difficult one. The market is on a bit positive side with hints of early tapering by ECB and the negative dollar which will support the market to rise. Looking ahead, the support for the market is around 1.18 level underneath and will trade in the range of 1.18 and 1.20 in next couple of session.…Read More
Initially, the pair went in a sideways direction on Monday’s session but due to volatility in the later part of the day, it affected the market move in back and forth direction. Overall, the market is a bit difficult to trade as uncertainty in both Federal Reserve’s intention of a rate hike this year and Brexit affecting the market. The market is expected to be choppy and over the long term, it is expected to go down below 1.2850 level with 1.30 as a strong resistance zone.…Read More
The AUD gapped lower on the start of Monday’s session due to the test of H-bomb in North Korea. The pair turned around to fill the gap to fall again. The market is moving a range between 0.79 and 0.80 for quite a time now and will be in this zone for some time now. It is better to wait for the market to give some amount of clarity on the direction of the trend.…Read More
The fear of geopolitical tension over Korean Peninsula gripped the market as it gapped lower in the start of Monday’s session. Initially, it tried to rally but have fallen back towards the 109.50 level. A move above 110 level will be bullish for the market and buyers are expected to return the market as the situation calms down. The pair is very sensitive to global risk and falls down easily on any negative development.…Read More
Thisarticlewas originally posted on FX Empire
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• Gold Price Futures (GC) Technical Analysis – September 5, 2017 Forecast || Is Ripple's Rally Over? XRP Price Runs Into Roadblock: Fresh off setting a one-month high, the price of ripple's native cryptocurrency, XRP, is struggling to cut through resistance offered by a rising channel hurdle.
At press time, the ripple-US dollar (XRP/USD) exchange rate is $0.24, and while that figure is up 4.24 percent on the day and 21.89 percent week-over-week, it seems further gains may be difficult.
Potentially positivenews drivers aside, price action analysis suggests XRP is struggling to hold above $0.21 (its September 27 high), meaning downside potential is still in play.
The chart above shows:
• XRP is having a tough time breaching the rising trend line resistance (upward sloping blue lines).
• 5-day moving average and 10-day moving average is sloping upwards.
• The 14-day relative strength index (RSI) is above 50.00 (bullish territory) and pointing upwards.
View
• XRP is likely to stay on the front foot and could eventually take out the rising channel hurdle. Prices could then proceed to test their August high of $0.2650.
• However, the RSI on the 4-hour chart is overbought (rally overdone). Thus, a minor pullback to $0.2190 cannot be ruled out.
• On a larger scheme of things, only a break below $0.20 would signal bullish-to-bearish change.
Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple, the developer of the XRP Ledger.
Cords and plugs imagevia Shutterstock
• Two Hurdles? Bitcoin Price Faces Resistance In Bid to Top $4,500
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• Ripple Price Consolidates, But Could It 'Swell' Higher? || 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. Story continues "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) || Marc Faber: Trump's policies make me 'obviously not optimistic about the US dollar': The U.S. dollar could "easily rebound" by 4 to 5 percent from current levels, but President Donald Trump and his administration stand in the way of the currency's long-term strength, Marc Faber said Thursday. The greenback has had a tough year, with the dollar index tumbling nearly 10 percent since the start of 2017. At the same time, gains among currencies such as euro and peso also added to the dollar's pain. "I think the dollar could easily rebound by 4 to 5 percent, or maybe even more. Longer term, I'm obviously not optimistic about the U.S. dollar. You just have to look at the U.S. administration and their economic policies that will not be very conducive for dollar strength in the long run," Faber, the editor and publisher of The Gloom, Boom & Doom Report , said on CNBC's "Squawk Box.""They're actually shooting themselves in their own feet, so long term I'm obviously negative about the U.S. dollar," he added.Despite his longer-term bearishness, the widely-followed analyst said he is looking to shift some euros in his portfolio into dollar. "The question is which currency is much better than the U.S. dollar? They're all not so desirable, that's why some people invest heavily in the so called cryptocurrencies ," he said, referring to the money flowing into assets such as Bitcoin . Faber has not dabbled in cryptocurrencies himself but acknowledged that they offer opportunities to make money. The rapid increase in supply of cryptocurrencies has made it difficult for investors to put a value on the digital money. He also said that emerging-market shares and gold could do well. Faber is looking to buy stocks in China , Singapore and Thailand . "I don't want to increase my bond exposure. Every year, some bonds are maturing, and as a result I'm reducing somewhat the bond exposure," he said. "I think the environment going forward, as had been the case in the first six months of the year, is that active managers can perform well by being overweight" in emerging markets. The U.S. dollar could "easily rebound" by 4 to 5 percent from current levels, but President Donald Trump and his administration stand in the way of the currency's long-term strength, Marc Faber said Thursday. The greenback has had a tough year, with the dollar index tumbling nearly 10 percent since the start of 2017. At the same time, gains among currencies such as euro and peso also added to the dollar's pain. "I think the dollar could easily rebound by 4 to 5 percent, or maybe even more. Longer term, I'm obviously not optimistic about the U.S. dollar. You just have to look at the U.S. administration and their economic policies that will not be very conducive for dollar strength in the long run," Faber, the editor and publisher of The Gloom, Boom & Doom Report , said on CNBC's "Squawk Box." "They're actually shooting themselves in their own feet, so long term I'm obviously negative about the U.S. dollar," he added. Despite his longer-term bearishness, the widely-followed analyst said he is looking to shift some euros in his portfolio into dollar. "The question is which currency is much better than the U.S. dollar? They're all not so desirable, that's why some people invest heavily in the so called cryptocurrencies ," he said, referring to the money flowing into assets such as Bitcoin . Faber has not dabbled in cryptocurrencies himself but acknowledged that they offer opportunities to make money. The rapid increase in supply of cryptocurrencies has made it difficult for investors to put a value on the digital money. He also said that emerging-market shares and gold could do well. Faber is looking to buy stocks in China , Singapore and Thailand . "I don't want to increase my bond exposure. Every year, some bonds are maturing, and as a result I'm reducing somewhat the bond exposure," he said. "I think the environment going forward, as had been the case in the first six months of the year, is that active managers can perform well by being overweight" in emerging markets.More From CNBC
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• Canadian, Aussie dollars driven higher by oil boost || T-Mobile COO: Why we make investments like free Netflix that 'seem crazy': T-Mobile (TMUS)announced Wednesday that it’s giving a free Netflix (NFLX) account to anyone on a T-Mobile family plan—a value of $120 a year, per T-Mobile customer.
In the video above, I got to ask T-Mobile Chief Operating Officer Mike Sievert the hard questions: How can they afford this? Why is it only for family plans? And…when are you going to improve your service coverage?
Sievert acknowledged that the free Netflix represented a big investment.
“This is $120 a year back into our customers’ pockets. This is a big deal,” he said. Later, he added, “We make these big crazy investments, they seem crazy on the surface. But we know that if they result in customers coming to us and staying with us longer, we’ll get revenues from them.”
In this case, the offer for free Netflix is good for any family with two or more T-Mobile One lines ($40 per line, unlimited—taxes and fees included).
“Our two biggest competitors [AT&T and Verizon] are creating these carrier/content mashups,” says Clint Patterson, T-Mobile’s communications director. “They’re buying the content, buying the distribution, and their strategy is to bundle it. They want to ‘quad-play’ customers out of their minds, and charge more and more for it.” He notes, for example, that AT&T (T) “bundles DirecTV.”
This will be the year, he says, when Americans will watch more video on their phones, tablets, and laptops than on their TV sets, so it makes sense to offer its customers internet video instead of a cable or satellite bundle. “We feel like we’re leapfrogging the other carriers,” Patterson says. “They’re gonna be screaming at their management consultants, ‘How could this happen?’”
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David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || WELLS FARGO: The athletic apparel boom is over — here's who will be hit hardest: steph curry lebron james nba final block shoot (Stephen Curry #30 of the Golden State Warriors shoots as LeBron James #23 of the Cleveland Cavaliers tries to block the shot in the first half in Game 1 of the 2016 NBA Finals at ORACLE Arena on June 2, 2016 in Oakland, California.Ezra Shaw / Getty Images) Ever bolder leggings, stylish tennis shoes and stretch-fit pullovers have been everywhere in recent years. But that trend may be dying. "The athletic apparel/footwear space was one of the strongest sub-sectors in our group coming out of the recession; but after an impressive multi-year growth cycle, we see several areas for concern that are not only likely weighing on the industry, but also have the potential to accelerate," Tom Nikic, an analyst at Wells Fargo, said in a recent note. The athleisure trend is dead, and dying faster every day, according to Nikic. From 2011-2016, athletic wear grew to be 30% of the total closing and footwear industry. It grew 7% a year, compared to the sluggish 1% growth of the general apparel sector, but that trend is starting to reverse. In 2016, athletic apparel grew only 6%, the slowest growth since 2010, said Nikic. The general retail apocalypse hit the athletic brands as well, as companies like Sports Authority declared bankruptcy. For the first time since 2011, athletic footwear brands underperformed their general use counterparts. Nikic says that this means that the athletic apparel brands are set to take a "breather" after its impressive growth over the past few years. Some brands are going to be hit harder than others by this decline in athletic apparel. Nikic downgraded Under Armour in his Tuesday note saying it is set to be one of the hardest hit companies. He says that the trend is moving away from performance sneakers into more fashion-forward brands, which isn't where Under Armour has been historically strong. Under Armour also has begun an aggressive growth plan that Nikic thinks will fall flat. He lowered his price target for Under Armour from $17 to $13. Story continues Nike is being conservative in how it's guiding investors. Nikic thinks that investor sentiment is rather low at the moment, so beating earnings estimates while lowering the guidance won't move shares lower, but it also isn't a great sign for the company. The company's rather gray outlook means more for the rest of the segment than it does for Nike though, Nikic said. Stagnation in one of the top brands means multi-brand retailers and companies without Nike's huge brand recognition will likely falter in the coming quarters. Nikic lowered his price target for Nike from $56 to $55. Amazon's move into the grocery business has sparked panic among investors in many a sector , and apparel retailers like Foot Locker and Finish Line Sports are not immune. Nikic surveyed around 550 young men about their shopping habits and found that about 40% would be willing to buy their next high-cost sneaker from Amazon instead of from a traditional sneaker retailer. It's not all doom and gloom for the industry though. 18% of those surveyed by Wells Fargo said that they are planning on spending more on sneakers in the near term. NOW WATCH: Bitcoin's bubble swells with a new record high More From Business Insider Hurricane Jose is moving up the East Coast — parts of New England are under a tropical storm warning An Instagrammer's incredible transformation shows the different effects of weight lifting and running BERNSTEIN: These 5 stocks have ‘compelling value opportunities’ despite the retail slump || Dollar Rises After U.S. Producer Inflation Rebound in August: The U.S. Dollar posted a solid gain against a basket of currencies on Wednesday after a report showed U.S. producer prices rebounded in August and as traders shifted their focus to consumer inflation data due on Thursday. Both producer and consumer inflation data will be important to the Federal Open Market Committee when it meets next week to discuss monetary policy. September U.S. Dollar Index futures settled at 92.508, up 0.652 or +0.71%. Daily September U.S. Dollar Index The index rallied after the U.S. Labor Department said its producer price index for final demand increased 0.2 percent in August after slipping 0.1 percent in July. The rebound was driven by a surge in the cost of gasoline. While the rebound suggests that the U.S. economy is holding on to underlying momentum, traders should note that the overall demand picture may not lead to an increase in consumer prices. All the producer price data showed was that the U.S. economy was retaining underlying momentum. Domestic producer prices actually came in less than forecast. The Fed meets next week, but is not expected to raise rates. Daily GBPUSD Forex The GBP/USD hits its highest level in a year, but a massive wave of selling pressure drove the Forex pair lower for the session, forming a potentially bearish closing price reversal top chart pattern. The catalyst behind the selling pressure was weaker-than-expected U.K. wage growth which may have curtailed the Bank of England’s plans to raise rates in response to a surge in inflation. Daily December Comex Gold Gold Gold retreated to its lowest level in 1 ½ weeks on Wednesday in response to a jump in the U.S. Dollar Index. Weaker stock prices probably prevented further losses. Low volatility in higher risk assets and a more cautious approach by investors has led to profit-taking weakness in gold this week. Demand for gold as a safe-haven asset has dropped this week due to reduced concerns over North Korea. Daily November West Texas Intermediate Crude Oil Crude Oil U.S. West Texas Intermediate and international-benchmark Brent crude oil rallied sharply higher on Wednesday in response to a bullish report from the International Energy Agency (IEA). Story continues According to the IEA, global oil demand is set to accelerate faster than anticipated this year. Strong second-quarter demand has buoyed oil markets, which have been struggling to rebalance as a supply glut has weighed heavily on prices, the IEA said in its September report released on Wednesday. In other news, U.S. crude stockpiles rose sharply last week and gasoline inventories fell the most on record as refineries continued to be hampered by damage from Hurricane Harvey, the Energy Information Administration said on Wednesday. Crude inventories rose 5.9 million barrels, compared with analysts’ expectations for an increase of 3.2 million barrels. This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Future of Currencies Dollar Rises After U.S. Producer Inflation Rebound in August Daily Economic Calendar, September 14, 2017 Market Snapshot – Bitcoin Prices Plunge on Renewed Chinese Fears Will U.S. Inflation Prove Stronger Than Expected? Soft Earnings Data Weighed on Sterling || Overstock's Regulated Token Exchange Will Launch with Own ICO: Retail giant Overstock.com is to launch its new regulated token exchange with its own initial coin offering (ICO), according to a news report. The token sale will be the inaugural event for the new exchange , which is set to be the first marketplace specifically for trading tokens classed as securities in the U.S. The service is being launched under the umbrella of Overstock's capital markets arm, tØ. The fund-raising effort will see the creation and sale of a tØ-specific token, which users must buy in order to pay for future services. Overstock CEO Patrick Byrne told International Business Times (IBT) that it will be distinct from other tokens on the exchange, being a so-called utility coin and not a security. The company expects to raise $200 million to $500 million "easily" via the ICO, Byrne said. A joint venture with RenGen and Argon Group, the upcoming exchange will be an alternative trading system (ATS) compliant with the U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations. Originally launched for the trading of blockchain-based stocks, tØ moved to create the regulated token exchange in response to the recent growth of the ICO use case. As tØ is already SEC regulated, Byrne told IBT that building the new service was a natural process, stating: "We took something that was already legit and legal, and we just adapted it so it could handle blockchain." He added: "If there's one company that could legitimately issue a token it should be us." The platform is expected to launch along with the new token "before Thanksgiving," IBT reports. Confetti image via Shutterstock Related Stories Transparent ICOs? Blockchain Projects Prove Value with New Accounting Tech Regulated Cryptocurrency Betting Just Got a Big Boost in Europe BitPay Is Growing? How Startup Suspicions Are Fueling Bitcoin's Fork Debate ICO Central: Why Switzerland Will Remain Crypto Valley
[Random Sample of Social Media Buzz (last 60 days)]
$EPAZ Epazz Launches Reg CF Crowdfunding Campaign to Market Bitcoin Cannabis Payment Mobile App https://vimeo https://investorshangout.com/post/view?id=4790582 … || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || Great advise ! @Smart_Contract @ethereumproject @BlackmoonFG @Bitcoin https://t.co/FNwtgJoN7i || BITCOIN......!!!! CRIPTOVALUTE ORMAI INATTACCABILI E ED INARRESTABILI......!!!!!!
COME PREVEDIBILE SUPERA... http://fb.me/6ZPuerJqE || ポテトフライヤー(@bitFlyer )がマイニング中 #ビットコイン #Bitcoin #仮想通貨 #ブロックチェーン #フィンテック $BTC #bitFlyer #ビットフライヤーpic.twitter.com/Xc5IPzSYv1 || RT StakepoolCom "RT tymorapro: $#BTCUSD: #BitCoin (4473.55) 3mTrending+ (.6%), bars:10, 1NearHi, 7:2Accel+, allTFs+, 1WkHi+; TLM:0.1; ILM:0… || START BITCOIN MINING http://bowwellebay.com || #bitcoin non si ferma più? Analisi tecnica || BTCの高騰が続く中、燻るアルトコイン。その中でもBCHの下落は目を引きます。
韓国大手取引所Bithumbで売りが先行する世界のBCH取引量の4分の1を担っていました。https://goo.gl/MDsi8S pic.twitter.com/ZnSR9iXkeb || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies
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Trend: up || Prices: 5605.51, 5590.69, 5708.52, 6011.45, 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83
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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 2019-06-18]
BTC Price: 9081.76, BTC RSI: 64.59
Gold Price: 1346.60, Gold RSI: 70.13
Oil Price: 53.90, Oil RSI: 42.14
[Random Sample of News (last 60 days)]
A Big Holding in Lithium ETF is Looking to Boost Output: This article was originally published on ETFTrends.com. Albemarle Corp. ( ALB ) , the second-largest holding in the Global X Lithium & Battery Tech ETF ( LIT ) , is looking to increase lithium output in Chile. That could be a sign producers are expecting lithium demand to increase. LIT, which is nearly nine years old, tracks the Solactive Global Lithium Index. One of the oldest thematic ETFs, LIT is designed to provide exposure to the full lithium cycle, from mining and refining the metal, through battery production, according to Global X . Albemarle Corp said on Thursday it is moving forward on a project it claims will boost its Chilean lithium production by 30 percent without extracting more brine from the environmentally sensitive Salar de Atacama, the world's driest desert, reports Reuters . The company, the world's largest producer of the white metal used to make electric vehicle batteries, has teased the industry for more than a year that it has production-enhancing technology. The lack of details, though, has irked some investors and Chilean authorities. Shares of Albemarle represent 14.50% of LIT's weight. Only FMC Corp. ( FMC ) commands a larger percentage of the lithium ETF's roster. What's Next for Lithium? Albemarle said on Thursday it plans to produce 40,000 tonnes of lithium in Chile this year, roughly flat with 2018 levels. Albemarle has authorization to produce in Chile the equivalent of up to 80,000 tonnes annually of lithium through 2043, according to Reuters. Electric vehicles are in the early innings of development and there are signs that there is a lot of pent up demand among consumers whom want to embrace the technology. In 2017, electric vehicle sales represented 1.7% of all vehicle sales globally, exceeding 1 million for the first time and rising 51% year-over-year. The rate could continue to accelerate as a result of EVs becoming more economical than gas-powered cars and as a result of a pro-climate regulatory changes pushing to ban gas-powered cars. Story continues Charlotte, North Carolina-based Albemarle said on Thursday that commissioning of its La Negra III and IV lithium carbonate facilities in Chile would not happen until at least the fourth quarter due to delays in shipping of equipment, reports Reuters. LIT is modestly higher on a year-to-date basis. For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Key Insights from the 2019 ETF Investor Study by Charles Schwab Millennials, Baby Boomers Are Most Likely to Use ETFs Markets Jittery On Chinas Reaction To Trumps Tweets Bitcoin Rallies to $6K Above 6-Month High Annual Morningstar Conference Unites Financial Industrys Top Minds READ MORE AT ETFTRENDS.COM > || Nonfarm Payrolls may stop the Dollar Growth: However, the Friday’s U.S. labour market report is able to put into question, or, conversely, strengthenthe USD growth trend.
The American economy is set to create about 180K jobs in April, according average analysts’ estimates. This is insignificantly worse than the average monthly growth over the last 12 months. During the week we see some controversial data: the ADP announced a strong employment growth in the private sector, but weekly unemployment claims and Manufacturing ISM point to a cooler growth compared to previous months.
Additionally, the auto and housing markets show a decline in sales, which one more evidence of a consumer confidence drop. Thus, macroeconomic data indicates that the situation in employment is getting a little cooler. And this can be a serious obstacle to the USD growth.
Against a trade-weighted basket of 6 major currencies, the dollar rose to 2-year highs last week. But for the further dollar growth, this employment report may need to significantly exceed the expectations. However, indirect indicators are set to a “slightly worse than average” report, potentially creating space for a retreat of the USD.
This article was written byFxPro
Thisarticlewas originally posted on FX Empire
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• Gold Price Futures (GC) Technical Analysis – Testing Last Support Level Before Steep Plunge || Blockstream reveals tokenised securities platform for the Liquid Network: Blockstream has announced the upcoming release of a new tokenised securities platform that can be used by businesses issuing security tokens directly on top of the firm’s custom-built Liquid Network . In a press release shared with Coin Rivet, the team said: “The Liquid Securities platform marks the first Liquid-based product to be launched by Blockstream, and is a major step in commercialising the fast-growing inter-exchange settlement network.” Blockstream went on to outline how “issuers can use the Liquid Securities platform to handle issuance and token management” for their potential clients. The team detailed how the Liquid Securities platform can provide a simple interface for businesses to issue, manage, and monitor the usage of their security tokens, saying: “Rules for token ownership, such as regional restrictions and investor accreditation, are established through a web interface and companion API.” Due to this unique architecture, Blockstream thinks that token rules do not have to be written at the smart contract level, as they “can be easily adjusted via the Liquid Securities control panel to allow issuers to adapt to fast-evolving digital asset regulations”. An emerging trend to tokenise securities Samson Mow, CSO of Blockstream, said: “Businesses around the world are racing to take advantage of the tokenisation of securities. “Unfortunately, blockchain platforms like Ethereum are failing them due to issues with scaling, privacy, and reliability. Liquid was built to address these issues. Now, with the launch of Liquid Securities, businesses can quickly issue Liquid-based security tokens with the click of a button, and establish sophisticated rulesets to conform with their regulatory requirements with no engineering experience required.” The Liquid Securities platform is initially launching with a limited set of partners, including BnkToTheFuture , TokenSoft , Zenus Bank , and the Samson Mow-led game studio Pixelmatic. Story continues Blockstream’s Liquid Network goes live on Bitfinex, with BitMEX integration coming soon By Nawaz Sulemanji – May 15, 2019 Tokenised equity Plans for the initial launch include “issuing tokenised equity in the largest companies in crypto” and even an ICO-style plan “to issue tokenised equity via Liquid Securities as part of a private offering”. Commenting on the release, Simon Dixon, CEO of BnkToTheFuture, said: “This is a completely new field, so building security token applications should be engineering-intensive work. “Liquid Securities instead provides us with everything we need to get going out-of-the-box, helping us to get our token issuances to market faster. The fact that Liquid is built by one of the most accomplished teams in the Bitcoin industry gives us even more confidence in the service’s future.” For more news, guides, and cryptocurrency analysis, click here . The post Blockstream reveals tokenised securities platform for the Liquid Network appeared first on Coin Rivet . || Crypto Recovers; Telecoms Giant AT&T Accepts Payments in Crypto: Investing.com - The crypto market recovered on Friday mid-day in Asia with most major cryptocurrencies trading higher.
Bitcoin added 2.20% to $7,834.6 by 12:54 PM ET (03:54 AM GMT). With that said, the coin has not been able to climb back to the $8,000 level since Wednesday, after hitting a 10-month high at $8,287.2 in mid-May.
Like Bitcoin, XRP gained 0.69% to $0.37636 and Litecoin rose 1.60% to $88.799.
However, Ethereum dropped 0.06% to $242.9.
The total market cap went up to $244.5 billion from $239.5 billion the previous day.
The news that excited the crypto advocates on Friday was U.S. telecoms giant AT&T (NYSE:T) will start accepting payments in cryptocurrencies, the major U.S. mobile carrier to provide such option to customers.
AT&T will process online bills paid in digital coins through a platform called BitPay, which converts cryptocurrencies to fiat currency. The platform is said to be used by over 20,000 businesses.
“We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer,” said Kevin McDorman, vice president of AT&T Communications Finance Business Operations.
The move signifies a step towards wider adoption of cryptocurrencies.
"We've met with executive teams at many Fortune 500 companies to explain to them how [crypto] works and we brain storm on how we can work together,” said Sonny Singh, Chief Commercial Officer at BitPay.
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EOS BP, Explained || AUD/USD Price Forecast Australian dollar continues to find support: The Australian dollar fell a bit during the trading session on Monday, showing signs of stability though because we could not fall apart. Ultimately, this is a market that continues to be very volatile and choppy, but it is very well supported as we can see. It extends all the way down to the 0.68 level, so therefore I think its good to be difficult for this market break through that barrier. Pullbacks from here should continue to attract value hunters, but at this point I think this is more about the US dollar than anything else, so pay attention to how the greenback is performing against other currencies around the world. If the currency is fallen against others, then it will probably send this market to the upside. AUD/USD Video 14.05.19 On the other side, if the US dollar starts to fall rapidly, the Australian dollar could be a good place to start buying. This is because we have so much in the way of support underneath that extends down to hundred pips, so at this point it looks like its going to be difficult to break down. With that, I believe that its easier to buy this pair than try to sell it, so essentially its a one-way trade. Ultimately, the 0.7050 level above being broken to the upside could send this market much higher. Overall, the Australian dollar is highly levered to the US/China trade situation, so until we get some type of good news its probably going to hang about this level. Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Shines Through Market Uncertainty: Uber shares Sink US Stock Market Overview Stocks Tumble on Trade Fears E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Straddling Major Support Angle at 7351.25 Cryptocurrency Forecast Bitcoin Goes Ballistic, $10,000 Is In Sight GBP/JPY Price Forecast British pound testing support against Japanese yen EUR/USD Price Forecast Euro gets a lifter View comments || US Federal judge threatens to hold Craig Wright in criminal contempt in ongoing court case: Craig Wright, who claims he is Bitcoin creator Satoshi Nakamoto, was dealt a blow by a Florida court yesterday after they granted a motion to compel him to prove his bitcoin holdings by Monday. He has also been summoned to the federal court by the end of the month, where he will need to speak under oath.
The motion is part of a lawsuit filed against Wright by the estate of Dave Kleiman, a deceased entrepreneur, over claims Wright misappropriated billions of dollars of bitcoin (1.1 million BTC) through a complicated multi-year partnership with Kleiman earlier this decade.
To assess the claim, the Courts requested last month that Wright, an Australian computer scientist, produce records of his private bitcoin addresses as of December 2013.
The new motion to compel means that if Wright fails to comply now, he will be held in contempt of court, which could be a criminal act and punishable by a fine or jail time. It also means the Court has dismissed Wright's explanation that he cannot obtain the bitcoin address information because it is controlled by a blind trust.
Stephen Palley, a lawyerfollowing the case, wrote onTwitter:
"Wright is close to getting sanctioned and losing [the case]. Court doesn't think much of his arguments."
If Wright fails to comply and loses the case, it could also affect his ongoing legal proceedings in the UK.
The full document can be read here: || Turkish University Opens Blockchain Center at Boston's Northeastern University: TurkishBahçeşehir University (BAU) has reportedly opened ablockchaincenter at Boston's Northeastern University (NEU) to provide informational support on blockchain technology, Daily Sabahreportson May 7.
Apart from informational support, the BAU–NEU Blockchain Laboratory's objective is to apply for funds in theUnited States, theEuropean Unionand Turkey, thus boosting Turkey's presence in the blockchain market and attract specialists in the field.
Commenting on the cooperation, Chair of the BAU Board of Trustees Enver Yücel said that he would also like to start blockchain-related master and doctoral education programs in partnership with the Turkish Exporter's Assembly. Bora Erdamar, director of BAU’s BlockchainIST Center, added:
"[Blockchain] will directly change all sectors from logistics to trade, from education to health, from energy to agriculture where we need to keep our products and people's information in a safe environment."
Blockchain technology has been gaining traction in theeducationalspace. Recently, twoSouth Koreanuniversities, Yonsei University and Pohang University of Science and Technology,collaboratedto develop an entire Blockchain Campus with its owncryptocurrency. Within the initiative, a student-centered project aims to increase day-to-day cryptocurrency usage.
The Indian Institute of Management (IIM) Calcutta and training platform TalentSpiritbeganjointly offering an advanced program infintechand blockchain technology in February. The program is reportedly targeted at management and finance professionals aiming to educate participants on financial technology growth and its potential impact on the banking and financial ecosystem.
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• Ohio State Legislature Introduces Bill to Allow Gov’t to Implement Blockchain Solutions || 4 ETFs to Trade the Consumer Discretionary and Staples Sector: This article was originally published onETFTrends.com.
On Tuesday, the Dow Jones Industrial Average closed down 473 points. For investors who are unnerved by this type of volatile movement, they can look to consumer discretionary and consumer staples exchange-traded funds (ETFs) for some stability.
Similarly, traders can take advantage of these market oscillations withDirexion Daily Consumer Discretionary Bull & Bear 3X SharesandDirexion Daily Consumer Staples Bull & Bear 3X Shares.
Late last year, Direxion bolstered its already expansive line of leveraged and inverse ETFs with the aforementioned products that reflected the most recent changes to the Global Industry Classification Standard (GICS®) sector changes. The ETFs offer savvy investors exposure to the existing Consumer Staples sector and to the Consumer Discretionary sector.
Under the new GICS structure, the Telecommunication Services sector expanded to include telecommunication companies, and select companies from the Consumer Discretionary and Information Technology sectors, and was renamed Communication Services.
Consumer Discretionary, which no longer includes media and entertainment companies, continues to primarily offer exposure to retailers, including Amazon and Home Depot. This sector remains an attractive option for growth investors with its continued exposure to stocks with relatively high expected earnings and sales growth.
Consumer Staples, on the other hand, retains a greater orientation toward value stocks with exposure to companies considered to be more essential to daily living, such as Procter & Gamble and Coca-Cola.
1. Direxion Daily Consumer Staples Bull 3X Shares ETF (NEED): seeks daily investment results of 300% of the daily performance of the Consumer Staples Select Sector Index (the "index"). The index includes domestic companies from the consumer staples sector which includes the following industries: food and staples retailing; household products; food products; beverages; tobacco; and personal products.
2. Direxion Daily Consumer Staples Bear 3X Shares ETF (LACK): seeks daily investment results of 300% of the inverse of the daily performance of the Consumer Staples Select Sector Index (the "index"). The index includes domestic companies from the consumer staples sector which includes the following industries: food and staples retailing; household products; food products; beverages; tobacco; and personal products.
3. Direxion Daily Consumer Discretionary Bull 3X Shares (WANT): seeks daily investment results of 300% of the daily performance of the Consumer Discretionary Select Sector Index. The index is provided by S&P Dow Jones Indices (the "index provider") and includes domestic companies from the consumer discretionary sector.
4. Direxion Daily Consumer Discretionary Bear 3X Shares (PASS): seeks daily investment results of 300% of the inverse (or opposite) of the daily performance of the Consumer Discretionary Select Sector Index. The index is provided by S&P Dow Jones Indices and includes domestic companies from the consumer discretionary sector.
“The retail-oriented WANT and PASS allow traders to take bold positions on consumer discretionary stocks, while NEED and LACK will do the same for those looking for leveraged trades on today’s consumer staples stocks,” said David Mazza, Managing Director and Head of Product at Direxion.
For more trends in the inverse and leveraged ETF space, visitLeveraged & Inverse ETF Channel.
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READ MORE AT ETFTRENDS.COM > || E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Counter-Trend Buyers Trying to Defend Three Main Bottoms: June E-mini Dow Jones Industrial Average futures are trading lower after the first hour of trading on Monday. Sellers are pressing the market after China retaliated against new tariffs from the U.S. by placing tariffs of 25% on $60 billion of U.S. imports. They are expected to kick-in on June 1.
Most of today’s weakness occurred prior to the release of the news which suggests investors may have already been trying to price in the tariffs. In other words, the news did not come as a surprise.
The early price action also suggests investors may be showing respect for a series of bottoms at 25377, 25246 and 24900. The latter is the trigger point for an acceleration to the downside. Traders should note that these levels are not value. The value area is 24122 to 23515.
At 14:29 GMT,June E-mini Dow Jones Industrial Averagefutures are trading 25390, down 574 or -2.25%.
The main trend is down according to the daily swing chart. The downtrend was reaffirmed earlier today when sellers took out Friday’s low at 25464. If the selling pressure continues then look for bearish traders to make a run at the three main bottoms at 25377, 25246 and 24900. Aggressive sellers will be hunting for sell stops.
The market is in no position to change the main trend to up, but we could see a closing price reversal bottom like Friday if the selling dries up, or if aggressive counter-trend buyers become motivated by bullish headlines.
The minor trend is down. A trade through 26016 will change the minor trend to up. This will also shift momentum to the upside.
The main range is 21550 to 26694. If the three bottoms fail then look for an acceleration into its retracement zone at 24122 to 23515. Since this is a value zone, buyers could come in on a test of this area.
Based on the early price action, the direction of the June E-mini Dow Jones Industrial Average the rest of the session is likely to be determined by trader reaction to the 25377 main bottom.
Holding above 25377 will indicate the presence of buyers. They are defending this bottom and the others at 25246 and 24900. If this move creates enough upside momentum then look for the buying to possibly extend into the downtrending Gann angle at 25862.
The angle at 25862, is moving down at a rate of 64 points per day from the 26694 main top. This angle has been guiding the market lower for 13 consecutive trading sessions. Overtaking it will indicate the buying is getting stronger. This could turn the Dow higher and lead to a breakout over 26016.
A sustained move under 25377 will indicate the selling is getting stronger. This could create the downside momentum needed to take out the bottoms at 25246 and 24900. Taking out the latter could lead to a test of the uptrending Gann angle at 24550.
The Gann angle at 24550 is the potential trigger point for an acceleration into the major 50% level at 24122.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Shines Through Market Uncertainty: Uber shares Sink || Halt Libra? US Lawmakers Call for Hearings on Facebooks Crypto: The head of the U.S. House of Representatives Financial Services Committee wants Facebook to stop developing its new Libra cryptocurrency network at least temporarily. Congresswoman Maxine Waters asked Facebook to halt development of the Libra Network until hearings can be held . The move follows a letter written to her by her Republican counterpart, Representative Patrick McHenry. McHenry wrote , We know there are many open questions as to the scope and scale of the project and how it will conform to our global financial regulatory framework, adding: Related: Bank of England Governor Says Facebooks Libra Crypto Will Be Scrutinized It is incumbent upon us as policymakers to understand Project Libra. We need to go beyond the rumors and speculations and provide a forum to assess this project and its potential unprecedented impact on the global financial system. In a statement, Waters said, with the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. She added that there is currently no clear regulatory framework to provide strong protections for investors, consumers and the economy, when it comes to cryptocurrencies. We look forward to responding to lawmakers questions as this process moves forward, a Facebook spokesperson said in a statement. Growing crowd Related: Watch Facebooks Libra Videos: An Inside Look At the Calibra Wallet Waters and McHenry joined a small, bipartisan group of lawmakers in expressing concern about the Libra project. Earlier, Senate Banking Committee ranking member Sherrod Brown said on Twitter that Facebook has exploited user data in the past, and cannot be allowed to run a risky new cryptocurrency out of a Swiss bank account without oversight. (The Libra currency will be governed by a Swiss foundation.) The Senate Banking Committee wrote a letter to Facebook last month asking a number of questions about how the project would work and how Facebook would handle user data. Story continues A spokesperson for the company told CoinDesk on Tuesday that the social media giant had yet to respond to the letter , and was working on answers to the questions. Facebook image via Shutterstock Related Stories Facebooks Cryptocurrency Is a Nail in the Coffin for Blockchain Not Bitcoin Facebook Has Yet to Answer US Lawmakers Questions About Libra Crypto
[Random Sample of Social Media Buzz (last 60 days)]
🔽🔽 ₿1 = $8,295 (21:18 UTC)
$BTC prices continue to fall!
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Trend: up || Prices: 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-05-08]
BTC Price: 9842.67, BTC RSI: 78.98
Gold Price: 1709.90, Gold RSI: 54.44
Oil Price: 24.74, Oil RSI: 54.02
[Random Sample of News (last 60 days)]
Bear Market Over? Charts on Bitcoin and ASX 200 Suggest Otherwise: Some financial publications around the world are touting the “shortest bear run in history” for U.S. equities, as if the dark days of the coronavirus sell-off are behind us.
Markets in the U.S. are beginning to show signs of life thanks to theFederal Reserve’s quantitative easing plus the recently enacted $2 trillion U.S. stimuluspackage. The Dow Jones Industrial Average is up 23 percent and the S&P 500 index has gained around 20 percent from their respective March 23 bottoms. Yet, a conclusion to the wide-reaching COVID-19 pandemic is far from over.
Australia’s equity benchmark ASX 200 index is off by 31 percent and Japan’s Nikkei 225 has lost 21 percent from their February highs as the COVID-19 outbreak went from bad to worse over a month ago.
Related:How Bitcoin’s Price Slump Is Changing the Geography of Mining
Government measures in Australia got a whole lot more stringent overnight. The country’sprime minister announcedgatherings were to be restricted even further to a maximum of two people in order to slow the spread of COVID-19 from within its borders. The unprecedented measure were agreed to by the newly created “national cabinet,” comprised of the premiers of all the states and territories plus the prime minister and convened to coordinate a battle plan against the virus.
So far, the ASX has been slow to react. The index is up by about 2.3 percent on the day. However, pressure toward the downside is apparent. Gains may require significant positive day-on-day returns over the course of this week if they are to signal confidence in the country’s latest measures.
Jehan Chu, co-founder and managing partner at Hong Kong-based blockchain investment and trading firm Kenetic, said that despite the turmoil the “corona moment” would be the moment we learned to be truly digital.
“While all market signs point to a long and lean winter, the silver lining is that remote working and especially socializing is clearly the catalyst to mainstream the digital experience,” Chu said.
Related:Bitcoin Diverges From Falling Equities With $500 Price Rise
“From church services to dance parties, group meditation to infant play groups, the digital experience is normalizing for all sectors of society. This experimental phase, driven by a survival instinct, is fundamentally ushering the masses to the “digital-first” future,” Chu added.
In commodities, oil is trading at lows not seen since February 2002. Gold is down half a percent from March 27’s close and is showing signs of extreme volatility amid the uncertainty, currently changing hands for around $1,616 per troy ounce.
Bitcoin prices’ resistance near $6,900 is presenting a significant hurdle for the world’s bellwether cryptocurrency. The cryptocurrency suffered continual losses last week, with prices down $1,000 from that local peak. Bitcoin is currently changing hands for around $5,900.
Further, two long-term moving averages (MAs), the 200-day and 100-day, are beginning to converge once more. That indicates the potential for a deeper drawdown from Feb. 13’s high of around $10,500, reflecting sentiment on current global market conditions.
The last time these two MAs crossed was back in November 2019, when prices fell nearly a quarter to a local bottom of around $6,425 from $8,500.
Elsewhere in crypto, XRP is down 3.6 percent over the weekend. Ether (ETH) is currently trading 4.1 percent lower than March 27’s close of around $131.
Global financial sentiment will need to continue to improve significantly in the coming week if there is any real chance of staving off a deeper recession. In the past week, almost all markets have suffered daily lower highs, taken by technical traders to be a negative signal.
With coronavirus-related updates changing daily at a rapid pace, a conclusion to the uncertainty and fear in markets may be far from over.
• Bitcoin and Ether Prices Stagnate as Traders Take Wait-and-See Approach
• Strange Days: S&P 500 Volatility Enters Bitcoin Territory || The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of HPQ, CAN and ANAB: NEW YORK, NY / ACCESSWIRE / March 29, 2020 /The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit.If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
HP Inc. (HPQ)Class Period:February 23, 2017 to October 3, 2019Lead Plaintiff Deadline:April 20, 2020
According to the filed complaint, defendants knew that HP's "four-box" model for measuring its supplies business was severely deficient and not a strong predictor of supplies demand and outcomes because HP lacked telemetry data from its commercial printers and had to use unreliable and stagnant market share data to develop assumptions for the four-box model. The complaint further alleges that defendants knew the lack of telemetry data for commercial printing was a critical shortcoming of the four-box model because HP possessed telemetry data on its personal printing side and knew it was a necessary element for an accurate understanding of the supplies channel. As a result, the supplies inventory in the Company’s channel exceeded demand by at least $100 million and HP’s supplies revenue growth was grossly inflated.
Learn about your recoverable losses in HPQ:http://www.kleinstocklaw.com/pslra-1/hp-inc-loss-submission-form?id=5840&from=1
Canaan Inc. (CAN)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.Lead Plaintiff Deadline:May 4, 2020
The complaint alleges that during the class period Canaan Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.
Learn about your recoverable losses in CAN:http://www.kleinstocklaw.com/pslra-1/canaan-inc-loss-submission-form?id=5840&from=1
AnaptysBio, Inc. (ANAB)Class Period:October 10, 2017 to November 7, 2019Lead Plaintiff Deadline:May 26, 2020
The ANAB lawsuit alleges AnaptysBio, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (i) AnaptysBio failed to disseminate important data from the Company’s Phase 2a trial in atopic dermatitis, including the timing and extent of patients’ use of topical corticosteroids as a rescue therapy during the study and whether any of the patients that utilized rescue therapy were classified as responders at a given time;and (ii) the Company's statements omitted key information from the Company’s Phase 2a trial in peanut allergy, including patients’ average cumulative peanut dose tolerated at day 14 after the administration of etokimab or placebo as well as whether the Company’s decision to exclude 20% of the patients enrolled in the study from the interim analysis due to their mild symptoms was retrospective; and (ii) as a result of the foregoing, Defendants’ positive statements about the efficacy and prospects of AnaptysBio’s lead drug asset in the treatment of atopic dermatitis and peanut allergy were materially false and/or misleading and/or lacked a reasonable basis.
Learn about your recoverable losses in ANAB:http://www.kleinstocklaw.com/pslra-1/anaptysbio-inc-loss-submission-form?id=5840&from=1
Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:J. Klein, Esq.Empire State Building350 Fifth Avenue59th FloorNew York, NY 10118jk@kleinstocklaw.comTelephone: (212) 616-4899Fax: (347) 558-9665www.kleinstocklaw.com
SOURCE:The Klein Law Firm
View source version on accesswire.com:https://www.accesswire.com/583053/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-HPQ-CAN-and-ANAB || Bitcoin Climbs 10% As Investors Gain Confidence: Investing.com - Bitcoin was trading at $6,473.5 by 19:54 (23:54 GMT) on the Investing.com Index on Monday, up 10.06% on the day. It was the largest one-day percentage gain since March 23.
The move upwards pushed Bitcoin's market cap up to $117.3B, or 0.00% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $5,710.8 to $6,564.7 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 26.9%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $46.5B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $4,946.4961 to $6,858.0732 in the past 7 days.
At its current price, Bitcoin is still down 67.42% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $135.40 on the Investing.com Index, up 9.59% on the day.
XRP was trading at $0.15846 on the Investing.com Index, a gain of 5.91%.
Ethereum's market cap was last at $14.8B or 0.00% of the total cryptocurrency market cap, while XRP's market cap totaled $6.9B or 0.00% of the total cryptocurrency market value.
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Ethereum Climbs 10% In Rally || Bitcoiners in Europe Reflect on Economic Shocks as Coronavirus Spreads: With assets fromoil barrels to bitcoinbeing pulverized by the coronavirus slowdown, people worldwide are reevaluating their plans for crypto gatherings, especially in geographies where anti-COVID-19 measures are increasingly serious.
In Milan, Italy, which was officially placed onlockdownby the Italian government on Sunday, bitcoin entrepreneur and meetup organizerMir Liponiis facing more pressing concerns than her hobbyistmeetupof 1,800 members. Weddings and funerals are forbidden, she told CoinDesk. Most grocery shopping is done online, which leads to delayed deliveries.
“Authorities told us we will always have food and drugs,” she said. “That has been true for the last 18 days. … But still people are scared. Some arebreakinginto shops.”
Related:Ben Hunt on Markets and Narratives in the Age of Coronavirus
Meanwhile, veteran bitcoiner and cypherpunk iconAmir Taaki, known for creating Dark Wallet and fighting ISIS inSyria, is still hoping to open a cypherpunk academy in Barcelona later this year, after the virusquarantinepolicies end.
“People are still severely underestimating the impact this thing [coronavirus] is going to have. People are home a lot more, so using credit cards a lot more,” Taaki said in a phone interview from his quarantine in a small Spanish village. “Governments are going to give themselves more powers that they can use for other purposes.”
In the meantime, he’s working from home with the privacy tech startupNymand, separately, with a small band of roughly 10 people to develop tools for “pools of liquidity in different jurisdictions.”
“What’s the point in building an ecosystem that centers around U.S. banks and Chinese corporations, then when the economy has a meltdown they pull out anyway? It’s all backwards,” Taaki said.
Related:New York Crypto Companies Move to ‘Work From Home’ in Face of Rising COVID-19 Threat
In Milan, Liponi said the psychological aspect of quarantine already feels restrictive. People are only allowed to drive within the city for crucial work tasks, health care or groceries. She described the localhealth care systemas “collapsing,” with doctors and nurses falling ill and hospitals woefully understaffed.
“Things change every day,” Liponi said. “I’m a reclusive person by choice but now that it’s imposed I feel like I want to break free.”
There’s also a travel restriction on Italians. For example, they are no longer allowed to enter neighboringAustria. In Vienna, a hackerspace co-founder who goes by Exiledsurfer is organizing the virtualNonconconference in April. A member of the cypherpunk collective Polis Parallela, Exiledsurfer said many bitcoiners rely on such events for work. It remains to be seen if the economics ofvirtual eventscan substitute for in-person gatherings.
Regardless, the risks of continuing to hold events in cities without quarantine rules could be severe. Several veteranEthereum community membersreported feeling sick this week after flying home from a conference in Paris. Even in San Francisco, which declared a state of emergency in late February, companies likeCoinbaseadopted a suggested work-from-home policy effective March 9.Bitcoin Magazine’sannual conference, which was scheduled for March 27 in San Francisco, was postponed to the third quarter of 2020.
For meetup organizers in complete lockdown like Liponi, she’s staying focused on the day-to-day and isn’t sure yet how this will impact her international consulting company, Satoshi Design. Like Taaki and Exiledsurfer, she can work from home as she figures out her family’s situation. But if the broader economic slowdown continues, Taaki expectsbitcoin(BTC) prices to drop even lower.
“Dark money will stay in crypto, which guarantees its price. All the speculative capital in crypto, that’s going to exit,” he said. “There’s going to be second-and-third order effects, social, legal and economic.”
• Bitcoin Price Is Now Up Just 9% This Year
• How to Survive the Coronavirus and Keep Your Startup Alive || SoftBank-Backed Fintech Firm Joins Chinese Conglomerate to Build Blockchain Platform: The fintech arm of China’s largest insurer and a logistics conglomerate are teaming up to develop a blockchain-based information-sharing platform for one of the country’s biggest trading hubs.
OneConnect Financial Technology, which is the fintech arm of China’s largest insurance company, Ping An Insurance, has entered into a joint program with the China Merchants Port Group (CMPort) to build a logistics system based on blockchain for the Guangdong-Hong Kong-Macao Greater Bay Area, according toa March 31 reportby the China News Service, a state media publication.
“Since the central government’s directive to develop blockchain technology from last year, Shenzhen customs, China Merchants Group and Ping An have started to work together to study blockchain applications in cross-border logistics,” Xiaoying Chen, director of Shenzhen Customs said in the report.
Related:Chinese Financial Watchdog Warns of Manipulative Crypto Exchanges
The platform will include information from Chinese custom services, port operators, logistics companies, financial institutions and export and import firms in one single system via shared databases on chain. One of its goals is to offer a more efficient tracking system at a lower cost. Financial services will also be more accessible to the trade companies.
See also:‘They Have the Users’: Binance CEO Explains Why He Bought CoinMarketCap
The system will have five databases to manage information about trade companies, goods, logistics, contracts, and documents and certificates. It could help government agencies to better supervise international trade and reduce processing time for financial institutions to provide export and import firms with trade finance services.
OneConnect is one of the four“fintech unicorns”groomed by the state-backed Ping An group. One of its focuses is to apply blockchain to traditional financial services through its cloud technology.
Related:How Coronavirus Is Accelerating the End of Globalism, Feat. Peter Zeihan
SoftBank led a Series A round in OneConnect with a valuation of $7.5 billion in 2018. The firmwent publicon the New York Stock Exchange in November last year. However, the initial public offering raised $359 million at a market value of $3.63 billion as of its first trading day on Dec. 13.
The China Construction Bank – a national commercial bank – also invested in a blockchain-based trade finance platform where exporters and importers can connect with banks and lending agencies for short-term financing. The banksaid last Octobertrading volume on the platform had exceeded $53 billion since its 2018 launch.
Beyond China, bothSingaporeand a slew ofEuropean Union countrieshave made nationwide efforts to launch their own blockchain-based platforms to facilitate international trade.
• How Bitcoin’s Price Slump Is Changing the Geography of Mining
• Luxury Watchmaker Breitling Adds Its First Timepieces to a Blockchain || Binance, Brock Pierce Donate $1M to Puerto Ricos COVID-19 Fight: Brock Pierces Puerto Rican nonprofit has teamed up with Binance to buy $1 million in personal protective equipment to help fight coronavirus in Puerto Rico. Integro Foundation run by one-time bitcoin billionaire Brock Pierce who in 2018 tried to make Puerto Rico into a crypto utopia donated 44.5 BTC to Binance Charity on April 23. Binance Charity announced Thursday that it was matching that donation 2:1 at a valuation of $333,333 USD. The foundations Executive Director Antares Ramos-Álvarez told CoinDesk that Brock Pierce was underwriting the entirety of Integros 44.5 bitcoin donation. He said that the supplies would go to a mix of public and non-gubernatorial organizations. Related: 66% of Europeans Believe Crypto Will Still Be Around in 10 Years: Survey Read more: Binance Donated $2.4M in Coronavirus Medical Supplies; CZ Pledges More The target for the masks is for frontline medical workers, he said. This initiative is our way to support the true heroes, the first responders and medical workers, with the tools required to protect themselves as they serve others during this crisis, Brock Pierce said in a press statement. Pierces San Juan-based 501(c)(3) became an IRS-recognized nonprofit in 2018. Puerto Rican tax forms indicate that Integro launched in early January 2015. The nonprofit has no public history of any financial activity. It reported zero revenue, assets or expenses in 2015, 2016 and 2017 filings with the Internal Revenue Service. More recent filings were not immediately available. Integros tax form point of contact James Santos did not respond to a request for comment. Related: 11 Lawmakers Urge US Treasury to Consider Blockchain for COVID-19 Relief See also: 11 Lawmakers Urge US Treasury to Consider Blockchain for COVID-19 Relief Binance Charity collected the donation under its Crypto Against COVID-19 campaign. That month-old effort has raised $3.7 million in crypto through public donations and Binance pledges, including the Integro/Binance match deal. Binance CEO Changpeng Zhao previously estimated that Binances total contributions will add up to somewhere around $5 million. Related Stories COVID-19 and the Mass Surveillance Machine, Feat. Maya Zehavi World Economic Forum Shares Roadmap for Deploying Blockchains in Real World || Bitcoin, Ethereum & Ripple - American Wrap: 4/8/2020: Bitcoin Price Forecast: BTC/USD Next Critical Breakthrough Is Eyed At $7500 Bitcoin price is trading in positive territory, up 1.05% in the second half of the session. BTC/USD is being capped for the time being by a barrier at $7500. The price has been consolidating near-term, following the critical $7000 breakthrough. Ethereum Price Analysis: ETH/USD Small Barrier At 0 In The Way Of Greater Upside Ethereum price is trading in the green by 3.35% in the session on Wednesday. ETH/USD trying to break above resistance seen at the $170 mark. The next major target area for the bulls will be for a return into $200 break down is eyed at $200. Ripple Price Analysis: Intraday Price Action Holds At 0.20 Ripple is looking good at the moment as the market continues to make higher highs and higher lows. It seems like the bulls are in a fight to keep the price above 0.20. Looking at the black resistance zone the bulls will need to take out 0.20524 if the next target of 0.2251 is to be tested. Image source from Pixabay See more from Benzinga Bitcoin, Ethereum & Litecoin - American Wrap: 4/7/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 4/6/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 4/2/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Market Wrap: Oil in Turmoil, Bitcoin Gains Slightly to $6.9K: Crude’s turmoil continues to shake global markets. Prices on West Texas Intermediate (WTI) oil futures for expiring June sank 43 percent to $12 per barrel on Tuesday. This comes one day after May WTI contract prices plunged into negative territory –as low as -$40 per barrel at one point– for the first time ever. It closed the trading day at $11.57 per barrel.
European stocks felt the impact first, with the FTSE Eurotop 100 index closing down 3.6 percent. Energy companiessuch as BP and Shell, as well as mining stocksdragged down market performance.
President Trump tweeted Tuesday a promiseto bail out oil companieswith stimulus. Nonetheless, the S&P 500 index slipped 3.1 percent by the end of the trading day.
Related:Market Wrap: Oil Rebounds As Crypto Makes Gains, Especially Ether
“In the coming weeks, the WTI future price will continue to be under pressure until global economic activity picks up again, particularly in the major oil consuming countries of the U.S. and China, orOPEC+eases production cuts,” said Nemo Qin, senior analyst at multi-asset brokerage eToro.
Analystsare predicting numerous possibilitiesas a result of the oil market’s chaos. It seems to some that crypto, at least for the time being, is acting steadier than crude oil.
See also:Negative Oil Prices Could Hurt Bitcoin Miners Who Use Flared Gas
“TodayBTCand some cryptocurrencies look like better stores of value than oil,” said Piers Ridyard, CEO of Radix, a decentralized ledger software for asset-backed tokens. “The BTC price today is virtually flat compared to the start of the year and has lost 30% of its value since its 2020 peak in early February. In comparison WTI Oil has lost 457 percent of its value versus 2020 peaks.”
Related:Stablecoins Aren’t Inflating Crypto Market, Study Concludes
The price of bitcoin climbed by less than 1 percent over the past 24 hours, according to CoinDesk’s Bitcoin Price Index as of 21:00 UTC (5:00 p.m. EDT) Tuesday.
Bitcoin began its trading day at midnight UTC April 21 around $6,800. By 12:00 UTC (8 a.m. EDT), the price for one BTC was slightly lower at about $6,700. However, a large amount of buying on spot exchanges like Coinbase took place to hours later, pushing bitcoin into $6,900 territory.
The global health crisis continues to factor into digital asset prices. Concern over the coronavirus is causing bitcoin mining troubles, says Adam Vettese, U.K. market analyst at multi-asset brokerage eToro.
“COVID-19 is having varying impacts on mining projects around the world, with operations in Canada having been deemed ‘essential’ and permitted to continue, yet in places like Argentina they have been shut down,” he noted. “It comes as the space as a whole is being squeezed by the upcoming halving event, with many operations relying on a price spike to assist with paying off big hardware bills.”
Profit margins for miners, of course, depend on bitcoin prices. After those pricescollapsed on March 12 with $700 million in liquidationson derivatives exchange BitMEX, the hash rate dropped to as low as 94 million terahashes per second. That was roughly where it was inDecember 2019. The hash rate is a measure of operations done by all the mining machines in the Bitcoin network.
Bitcoin’s mining hashrate has been climbing back since mid-March, yet still hasn’t reached the 123 million terahash per second high prior to the crypto price collapse. Hashrate will continue to be something to watch in the cryptocurrency marketsas the halving approaches in mid-May, reducing the reward for miners for successfully mining a block by 50 percent.
“There needs to be an elevator pitch for why the halving actually increases the value of bitcoin,” said Henrik Kugelberg, a Sweden based over-the-counter (OTC) trader. “What if gold mining was halved globally and we discovered that all the gold is almost mined? What if no more oil fields were discovered?”
Other digital assets are mixed on CoinDesk’s big board for the day, mostly down or flat.Etherclimbed less than a percent. The biggest loser islisk(LSK), in the red 2.5 percent. On the other side,stellar(XLM) is up 1.5 percent andeos(EOS) is in the green 1.2 percent. All price changes are as of 21:00 UTC (5:00 p.m. EDT) Tuesday.
Gold saw a modest decline Tuesday, falling a little under 1 percent to $1,679 over the course of the past 24 hours, though at one point it traded as low as $1,659.90 during New York’s morning trading.
Asia’s Nikkei 225 dropped 1.9 percent asconcerns about the health of North Korea’s leader Kim Jong Unafter surgery was the topic of the day during Tokyo trading hours.
U.S. Treasury bonds continue to see a rally as money flees to safety. Yields, which move opposite to price, on the 30-year, 10-year and two-year bond all fell on Tuesday. The yield on the two-year Treasury was down to 0.2 percent at market close.
• Bitcoin Approaches $7K as US Passes New $480B Stimulus Package
• Bitcoin Under Pressure After Oil Prices Crash to Record Lows || 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, traders have been finding more arbitrage opportunities with 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. Story continues 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. Related Stories Bitcoin Tracks Stocks Up to $7.4K Before Sliding Back to $7.1K First Mover: Bitcoin’s Back in the Black for 2020 || Zoom Has Privacy Issues, Here Are Some Alternatives: Zoom, the popular-by-necessity video conferencing platform, has seen an explosion in users as the coronavirus pandemic forces people to work from home. In arecent blog post, CEO Eric S. Yuan said Zoom now has 200 million users, up from just 10 million last December.
But, with that increase in users has come greater scrutiny of Zoom’s privacy and security. With widespread reports ofZoombombing(where strangers dial in your channel with something rude and disruptive), the company’s procedures have been called into question by the New York Attorney General, and prompted a class-actionlawsuit.
The New York’s Attorney General said he is “concerned that Zoom’s existing security practices might not be sufficient to adapt to the recent and sudden surge in both the volume and sensitivity of data being passed through its network.”
Related:Private Companies Could Play Role in CBDC Issuance, Bank of England Says
Until recently, Zoom’s iPhone app included software that surreptitiously funneled user data to Facebook. The lawsuit says the code allowed Facebook to target users with ads.
Zoom has been criticized for ignoring privacy before. A year ago, a researcher found four million Zoom user cameras were potentially vulnerable to remote takeover without you knowing.
The company is currently pausing all feature development and “shifting all our engineering resources to focus on our biggest trust, safety and privacy issues,” Yuan said. But for many users, this isn’t good enough. They’ve already lost trust in Zoom and are searching for alternatives (which we identify below).
“Despite its ease of use, Zoom does not seem to take privacy seriously,” said Reuben Yap, Zcoin Project Steward. “Despite claims that Zoom’s video calls are [end-to-end] encrypted,this isn’t actually the case. E2E encryption means that even Zoom should not be able to view the contents of the videos or calls.”
Related:Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling
“Instead, all Zoom provides is transport encryption, meaning that it is secured to the extent that outsiders cannot intercept the call and view it. This still means that we have to trust Zoom to not read or leak this info. Given its track record, I don’t have high hopes,” Yap said.
Yoav Degani, the founder of MyPrivacy, an app that bundles privacy protection tools such as a VPN and a password manager, said there are several privacy and security issues with Zoom. Because meetings can be recorded and uploaded to the cloud, which is not secured, people who are not on the meeting can get a recording (like your boss for example). Also, organizers can receive a text file with the transcript of the meeting chat.
“There’s also a feature available to the meeting’s host called attendee attention tracking,” said Degani. “It allows the host to monitor participants’ computers and see if someone is not active in the Zoom call for more than 30 seconds.”
See also:How to Protect Your Online Privacy While Working From Home
You may not be officially active if, say, you put the Zoom window in the background and play some game or read some post on Facebook.
Degani said some bad guys are taking advantage of the situation and there are dozens of websites with the name “Zoom” that all of a sudden appear in search results and advertising and are used for phishing.
Several people who build and develop privacy-oriented toolsrecommend Jitsias a more secure alternative to Zoom.
Emil Ivov, one of the founders of Jitsi, said what sets it apart from other video conferencing services is its low friction. Creating a meeting is as simple as typing your name in, and it’s just one click to join. The company uses WebRTC, or Web Realtime Communications, which enables peer-to-peer video, data and audio communication between two web browsers. So on desktops there are no downloads and no accounts needed, said Ivov.
“We are really mindful about privacy and security,” said Ivov. “We require no personal data and fully support anonymous use. We are also open source. This is where we are truly unique. If you have any concerns about how we run our service, then you can just go and run your own! It only takes 15 minutes.”
Being open source also means anyone can scrutinize its software. But Jitsi does not feature end-to-end encryption.
“For now this is simply not possible with WebRTC, although the whole community is looking into the problem and we are hoping there will soon be solutions,” said Ivov. “For the time being, however, all your data is encrypted in-flight using DTLS-SRTP [a protocol which adds encryption and ensures message authentication and integrity] as per the WebRTC standard. None of your media content leaves your computer unencrypted.”
Jitsi is one more secure alternative, and another includesWhereby. One big drawback: Users are limited to four meeting participants in the free version. The Pro version of Whereby is $9.99 per month, and allows up to 12 participants per room in up to three meeting rooms.
Other one-to-one alternatives include Facetime, which does have end-to-end encryption, as does Signal, the privacy-focused messaging and call app.
“Products and services can be built to be both convenient and to protect privacy by design at the back-end,” says Raullen Chai, CEO of IoTeX, a Silicon Valley company that develops privacy-protecting smart devices. “Then you don’t have to worry about whether or not you trust a centralized party because it is built in what can and can’t happen with your data, returning control to the consumer. Blockchain-based key issuance allows for true end-to-end encryption without having to trust a central provider to not keep a key for themselves.”
Take all this into account, and it’s just one more indicator that yes, that meeting could probably be an email. As long as it’s one sent securely, that is.
• How to Protect Your Online Privacy While Working From Home
• P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58
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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 2022-08-22]
BTC Price: 21398.91, BTC RSI: 38.38
Gold Price: 1734.00, Gold RSI: 38.83
Oil Price: 90.23, Oil RSI: 42.97
[Random Sample of News (last 60 days)]
USDC whales leave, trading volume soars: The percentage of stablecoinUSD Coin (USDC) supply held by the top 1% addresses dropped to a 22-month low on Monday, whileUSDC average trading volume in seven days surged to an all-time highon the same day, according to crypto data dashboard Glassnode.
See related article:Vitalik Buterin says he used Tornado Cash to donate to Ukraine
• The total supply of USDC hasshrunk by $100 millionover the past week, and Glassnode’s chart also showsUSDC deposits hit a 17-month lowon Monday.
• In early August, USDCfrozemore than 75,000 USDC in 44 Tornado Cash-related addresses in response to the U.S. Treasury Department’s sanctions against the Ethereum-based cryptocurrency mixer.
• USDC is managed by a consortium called Centre, which was founded by crypto lenderCircleand includes members of crypto exchange Coinbase and Bitcoin mining giant Bitmain.
• USDC’s market capitalization dropped by US$2 billion in the two weeks since it announced it was freezing the Tornado Cash-related addresses, according toCoinMarketCap.
• Crypto analyst@TheLondonCryptonoted last week that he saw more than $1.6 billion has been transferred from USDC to its competitor stablecoin Tether (USDT) after the freeze was announced.
• USDT has so far not announced that it will freeze Tornado Cash-related addresses or any public response to the sanctions.
• Tornado Cash has been controversial because it protects transaction privacy while it has been accused of being a money-laundering tool for crimes.
See related article:Bad actors in North Korea, Russia send record-high funds to crypto mixers || 7 Beaten-Down Nasdaq Stocks to Buy Before They Rebound: Nasdaq stocks to buy is our topic for today. Many of these widely-followed shares have suffered significant year-to-date (YTD) losses on news of persistent inflation and interest rate hikes.
For instance, the tech-heavyNasdaq 100index is deep in the bear market territory, down around 26% so far in 2022. While macroeconomic headwinds continue to squeeze the hefty valuations of growth stocks, investors who can ride out the short-term volatility are poised to find attractive Nasdaq stocks to buy in the third quarter.
Despite growing fears for a recession, the bear market has ignited analyst calls to “buy the dip.” Many concur investing in beaten-down growth stocks with sound fundamentals could help create long-term wealth for many of our readers.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
• 7 Growth Stocks to Buy for a Rich Retirement
With that information, here are seven Nasdaq stocks to buy that could gain traction in July.
[{"BKR": "AVGO", "Baker Hughes": "Broadcom", "$29.53": "$490.31"}, {"BKR": "COST", "Baker Hughes": "Costco Wholesale", "$29.53": "$472.2"}, {"BKR": "FANG", "Baker Hughes": "Diamondback Energy", "$29.53": "$125.67"}, {"BKR": "ENPH", "Baker Hughes": "Enphase Energy", "$29.53": "$180.59"}, {"BKR": "MSFT", "Baker Hughes": "Microsoft", "$29.53": "$260.11"}, {"BKR": "TSCO", "Baker Hughes": "Tractor Supply", "$29.53": "$196.34"}]
Source: Shutterstock
52-week range: $19.23 – $39.78
Global energy tech playBaker Hughes(NASDAQ:BKR) offers a range of oilfield services to oil and gas companies. It serves customers through its oilfield services, oilfield equipment, turbomachinery and process solutions, and digital solutions segments.
The offshore oil technology leader releasedQ1 resultson April 20. Revenue increased 1% year-over-year (YOY) to $4.84 billion. Adjusted earnings came in at 15 cents per diluted share, up 26% from 12 cents in the prior-year quarter. Cash and equivalents ended the period at $3.19 billion.
The war in Ukraine combined with strong demand for oil and gas continue to support energy names. Soaring crude prices lead to higher drilling activity, increasing demand for BKR’s services and equipment.
BKR stock has gained almost 25% YTD, and supports a 2.40% dividend yield. Shares are trading at 22 times forward earnings and 1.25 times sales. Wall Street’s 12-month median price forecast for Baker Hughes stockstands at $41.
Source: Sasima / Shutterstock.com
52-week range: $455.71 – $677.76
Semiconductor heavyweightBroadcom(NASDAQ:AVGO) generates most of its revenue from wireless chips used in high-end smartphones. Its market share in the global chip industry is over3%.
Broadcom releasedQ2 financialson May 26. Revenue soared 23% year-over-year (YOY) to $8.1 billion. As a result, adjusted diluted earnings per share came in at $9.07, up from $6.62 in the prior-year period. Cash and equivalents ended the quarter at $9 billion.
The chip name ended last year with a record backlog of $14.9 billion, implying a highly reliable cash flow stream through 2022. In addition, Broadcom is poised to benefit from a decade-long smartphone replacement cycle, in part driven by the global rollout of 5G technology.
Management anticipates generating roughly $8.4 billion in revenue during the third quarter. Additionally, the company has recently authorized the repurchase of up to $10 billion of stock through the end of 2023.
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So far in 2022, AVGO stock declined 26%. Shares are trading at 13.9 times forward earnings and 7.2 times sales. Moreover, they currently generate a 3.3% dividend yield. Analysts’ 12-month median price forecast for Broadcom stockis at $690.
Source: ilzesgimene / Shutterstock.com
52-week range: $379.21 – $612.27
Costco Wholesale(NASDAQ:COST) operates the second-largest warehouse club chain stateside. Among global retailers, the Costco brand is amongthe most valuable 10 brands.
The warehouse club announcedQ3 resultson May 26. Revenue increased 16% YOY to $51.6 billion. Despite cost inflation pressures, Costco increased diluted earnings per share to $3.04, up from $2.75 in the same quarter last year. Cash and equivalents ended the quarter at $11.2 billion.
Costco enjoys a loyal customer base. Membership renewal rates stand at an all-time high of 90% worldwide. Management is also working to increase thee-commerce presence.
Yet, COST stock is down 21% YTD yet remains up 16% over the past year. Shares are trading at 33 times forward earnings and 0.9 times sales. Wall Street’s 12-month median price forecast for Costco Wholesale stockstands at $546.50.
Source: Pavel Kapysh / Shutterstock.com
52-week range: $64.74 – $162.24
Energy groupDiamondback Energy(NASDAQ:FANG) explores, acquires and develops oil and gas reserves in the Permian Basin in West Texas. With a market capitalization (cap) of about $22 billion, the energy play is likely to create shareholder value for many quarters.
Diamondback issuedQ1 metricson May 2. Revenue more than doubled YOY to $2.4 billion. Adjusted earnings per share came in at $5.20, up from $2.30 a year ago. Cash and equivalents ended the period at $149 million. Free cash flow (FCF) stood at $974 million.
The board plans to return at least half of the FCF to stockholders via dividends and stock repurchases. It increased the annual base dividend to $2.80, and the share price currently supports a 2.3% yield.
• 7 Butchered Tech Stocks to Buy and Hold
So far in 2022, FANG stock has gained more than 13%. Shares are changing hands at 5.1 times forward earnings and 2.8 times sales. Finally, the 12-month median price forecast for Diamondback Energy stockis $180.
Source: IgorGolovniov / Shutterstock.com
52-week range: $113.40 – $282.46
Enphase Energy(NASDAQ:ENPH) is known for its micro inverter-based solar and battery systems. In the “Renewable Energy Services & Equipment” segment, itsmarket shareis approaching 20%.
The energy company releasedQ1 financialson April 26. Revenue soared 46% YOY to a record of $$441.3 million. Adjusted earnings stood at 79 cents per diluted share, up from 56 cents in the prior-year period. Cash and equivalents ended the quarter at $1.1 billion.
Microinverter system shipments grew by 16% YOY, while shipments of energy storage systems increased by 187% YOY. The energy technology companyboasts an impressive 40% gross margin, one of the highest in the solar space. Management anticipates revenue increasing at least 55% YOY to reach $490 million-$520 million in the second quarter.
The President Joe Biden administration’s decision to extend import tariffs to accelerate domestic production of clean energy offers solid tailwinds for long-term growth. Additionally, the European Union’s (EU) plans to reduce reliance on Russian oil and gas, along with significant support for alternative energy solutions, mean good news for Enphase.
ENPH stock is up 1% YTD. Shares are changing hands at 59 times forward earnings and 19 times sales. Meanwhile, the 12-month median price forecast for Enphaseis at $240.
Source: Asif Islam / Shutterstock.com
52-week range: $241.51 – $349.67
Technology titanMicrosoft(NASDAQ:MSFT) dominates the global desktopoperating system (OS) market of around74%. With a market cap of almost 2 billion, it is also the second most valuable company on theS&P 500index.
In late April, Microsoft announcedQ3financials. Revenue increased 18% YOY to $49.4 billion. Adjusted diluted EPS surged 14% YOY to $2.22, up from $1.95 in the prior-year period. Cash and equivalents ended the quarter at $12.5 billion.
Server products and cloud services revenue increased 29% YOY, fueled by 46% growth in Azure cloud services. During the quarter, the company returned $12.4 billion to shareholders in share repurchases and dividends.
However, management cut its Q4 revenue and earnings expectations. Now, revenue is forecast to come in the $51.94-$52.74 billion range. Therefore, Wall Street is eagerly looking forward to the next earnings statement to be released in late July.
• 7 Retirement Stocks to Buy in Unexpected Sectors
MSFT stock fell more than 26% YTD. Shares are trading at 24.5 times forward earnings and 10.4 times sales. The 12-month median price forecast for MSFT stockstands at $350.
Source: James R. Martin/Shutterstock.com
52-week range: $166.49 – $241.54
Our final stock,Tractor Supply(NASDAQ:TSCO), is the largest operator of retail farm and ranch stores stateside. It primarily targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. The group operates over 2,000 retail locations.
Tractor Supply releasedQ1 metricson April 21. Revenue increased 8.3% YOY to 3.02 billion. Diluted earnings per share soared to $1.65, up from $1.55 in the prior-year quarter. Cash and equivalents ended the period at $405 million.
The retailer’s portfolio primarily consists of non-discretionary products like livestock and pet supplies, hardware, tools, and trucks. Comparable store sales increased 5.2% compared to 38.6% in the prior year’s first quarter.
In other words, Tractor Supply has been enjoying robust demand for its products. During FY’22, management anticipates net sales to come in the $13.6-$13.8 billion range.
So far in 2022, TSCO stock declined almost 21%. Shares are trading at 20.8 times forward earnings and 1.7 times sales. They also offer a 1.95% dividend yield. The 12-month median price forecast for Tractor Supply stockis at $245.
On the date of publication, Tezcan Gecgil, Ph.D., did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The post7 Beaten-Down Nasdaq Stocks to Buy Before They Reboundappeared first onInvestorPlace. || MoHash raises $6M seed funding to bring sustainable, stable yields to DeFi: Therecent collapse of USThas once again demonstrated that many of the so-called stablecoins in the web3 world today are tied to high-risk and often unsustainable assets. As decentralized finance attempts to expand its reach, it appears to be in dire need to find alternative sources of yields.
During the last DeFi summer, the yields on USDC across lending protocols ranged from 4%-6%, says Md Halim, founder of DeFi startupZeFi. At times, the yields went as high as 9%.
“As the value of Bitcoin and Ethereum appreciated, the demand for loans against them skyrocketed, prompting higher yields. But now as we grapple with fear and uncertainty in the markets, lots of large funds/whales have suffered losses," he said. "This has caused a cascading effect on players who loaned to them. The lenders in turn are liquidating their collateral to recoup the loans, leading to a further decline in the prices of BTC/ETH and other assets. That’s reflected in the contraction of TVL in DeFi procotols in terms of absolute units of assets locked.”
The message is clear: “If you’re a crypto person, you also need access to safer assets,” says Arun Devarajan, founder and chief executive of MoHash.
Devarajan’s startup, MoHash, is working to address this gap by tapping the real world’s yields. The startup is building a decentralized finance protocol that will tap global capital and liquidity for alternative assets in fast-growing economies.
“We are enabling access to fast-growing economies, and whose growth has meaning … it’s not tied to the fluctuations in the crypto market. Crypto has one great use case of trading, but it swings with the wind. There’s a lot more things you can do with the same infrastructure and we are trying to expand what it can do by bringing high-yield, regulated assets,” he said.
MoHashhas been working to solve this challenge for a year and has assembled several experienced tech and finance individuals from firms such as Goldman Sachs, Amazon, Oliver Wyman, India Stack and Samsung.
The startup aims to begin doing transactions in the next few weeks and is targeting to serve institutional investors and high-net-worth individuals with check sizes typically above $1 million. "This solution has the potential to meaningfully bridge MSME funding gaps across the globe — starting with India," said Ganesh Rengaswamy, co-founder and managing partner at Quona, in a statement.
Devarajan, co-founder of MoHash, previously worked at India Stack.Image Credits:MoHash
For Devarajan, MoHash is an opportunity to write atop of standards that can be used globally, he said. Devarajan previously worked at India Stack, a nonprofit that developed several infrastructure protocols including the UPI, which is now the most popular way Indians transact today.
“With OCEN (Open Credit Enablement Network, open standards to facilitate the various aspects of the lending value chain), we designed a system where Indian platforms were able to raise capital from Indian lenders. The single standard worked across the Indian market. At MoHash, we are writing atop a global standard on ERC20, and this standardization means we get access to global capital and liquidity,” he said.
The startup’s vision has already won some backing.
On Thursday, MoHash announced it has raised $6 million in seed funding. The round was led by Sequoia Capital India and Quona Capital. Ledger Prime, Jump Crypto, Hashed Ventures, Coinbase Ventures and CoinSwitch. Balaji Srinivasan and Polygon founders Sandeep Nailwal and Jaynti Kanani also participated in the round.
“MoHash is bringing real-world assets to DeFi users globally and providing sustainable, uncorrelated and hard to access yields on-chain for the first time,” said Shailesh Lakhani, managing director at Sequoia Capital India and Southeast Asia, in a statement.
“We think that this is exactly the type of product DeFi needs — one that leverages the strengths of blockchains and helps solve a real-world problem. We’ve loved working with them over the past few months and Sequoia Capital India is thrilled to co-lead this financing.” || Bitcoin (BTC) Fear & Greed Index Heads Towards the “Fear” Zone: • Bitcoin (BTC) rose by 1.21% on Friday to extend its winning streak to three sessions.
• Positive US retail sales figures and FOMC member chatter delivered the NASDAQ 100 and bitcoin with support.
• The Bitcoin Fear & Greed Index jumped from 15/100 to 21/100, reflecting easing fears of another BTC sell-off.
On Friday, bitcoin (BTC) rose by 1.21%. Following a 1.71% gain on Thursday, BTC ended the day at $20,827. It was a third consecutive day in the green, with market sentiment towards Fed monetary policy delivering support.
A bearish start to the day saw BTC fall to a low of $20,373 before making a move.
Steering clear of the First Major Support Level at $19,842, BTC rallied to a high of $21,185.
BTC broke through the First Major Resistance Level at $21,092 before falling back to sub-$21,000.
FOMC member chatter and the NASDAQ 100 delivered BTC support, while upbeat US retail sales figures penciled in a 75-basis point rate hike for July.
On Friday, the NASDAQ 100 rallied by 1.79%.
This morning, the Fear & Greed Index jumped from 15/100 to 21/100.
Reversing recent losses, the Index moved back towards the “Fear” zone, reflecting easing fears of another BTC reversal.
On Friday, Fed chattersupportedriskier assets, with a 100-basis point hike seemingly off the table.
The bulls will now look for a return to the “Fear” zone to signal a BTC move towards $25,000.
At the time of writing, BTC was down 0.32% to $20,760.
A range-bound start to the day saw BTC rise to an early high of $20,853 before falling to a low of $20,752.
BTC needs to move through the $20,794pivotto target the First Major Resistance Level (R1) at $21,215.
BTC would need a bullish session to support a breakout from the Friday high of $21,185.
An extended rally would test the Second Major Resistance Level (R2) at $21,606 and resistance at $22,000. The Third Major Resistance Level (R3) sits at $22,419.
Failure to move through the pivot would bring the First Major Support Level (S1) at $20,405 into play.
Barring an extended sell-off, the Second Major Support Level (S2) at $19,982 should keep BTC from a fall to sub-$19,500.
The Third Major Support Level (S3) sits at $19,171.
Looking at theEMAsand the 4-hourly candlestick chart (below), it was a bullish signal. This morning, bitcoin sat above the 100-day EMA, currently at $20,608.
The 50-day EMA closed in on the 100-day EMA, with the 100-day EMA narrowed to the 200-day EMA; positive BTC indicators.
A further 50-day EMA narrowing to the 100-day EMA would bring $21,500 into play.
The bulls will look for a hold above the 100-day EMA and a breakout from R1. A move through $21,500 would support a run at R2 and the 200-day EMA, currently at $21,919.
On a trend analysis basis, bitcoin would need a move through a May 30 high of $32,503 to target the March 28 high of $48,192. Near-term, resistance at $25,000 will likely be the first test should the upward trend resume.
For the bears, the June 18 low of $17,601 would be the next target.
Thisarticlewas originally posted on FX Empire
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• Biden abandons plan to nominate anti-abortion judge in Kentucky || Crypto lender Vauld has frozen withdrawals, and hedge fund Three Arrows Capital has filed for bankruptcy. Here are the crypto firms hit by the sell-off.: Bitcoin has plummeted 71% from its all-time high this year - creating a crypto liquidity crisis. Marco Bello/Getty Images Lender Vauld froze withdrawals Monday, another victim of a liquidity crisis spurred by the crypto crash this year. Crypto hedge fund Three Arrows Capital filed for bankruptcy Friday, intensifying concerns about stability. Here are the high-profile crypto lending platforms and exchanges struggling with the impact of the sell-off. Troubled crypto hedge fund Three Arrows Capital has filed for bankruptcy in the US, making it the latest crypto investment firm to collapse during this year's digital asset sell-off. The hedge fund, familiarly known as 3AC, filed for Chapter 15 bankruptcy in a Manhattan federal court Friday, just three days after it was liquidated in the British Virgin Islands for defaulting on a $667 million loan to Voyager Digital . The liquidity crisis in the crypto ecosystem stems from cryptocurrencies' dismal performance in 2022, which has seen leading token bitcoin plummet more than 70% from its all-time high in November. 3AC has lost at least $400 million during the crash, according to The Block . Its failure to repay its debts has contributed to a broader liquidity crisis that's now rippling through crypto. "The collapse of Three Arrows Capital has triggered the downfall of many other companies across the crypto space, particularly lenders who the hedge fund borrowed from in enormous sums," GlobalBlock analyst Marcus Sotiriou said in a research note Monday. Crypto lender Vauld is the latest company to suffer, saying Monday it has frozen withdrawals, trading and deposits. Here are the high-profile crypto players that are suffering during the ongoing liquidity crunch: Exchanges Voyager Digital has suffered after 3AC failed to repay its debt. The exchange now holds $685 million in crypto assets, compared with the $1.12 billion it has loaned out, it said Friday. To cover its losses, the trading platform secured a line of credit from FTX CEO Sam Bankman-Fried's Alameda Ventures that amounted to $485 million in cash and bitcoin. Story continues After initially cutting its withdrawal limits from $25,000 to $10,000, Voyager has now temporarily suspended trading, deposits and withdrawals on its platform. "This was a tremendously difficult decision, but we believe it is the right one given current market conditions," Voyager chief executive Stephen Ehrlich said in a statement . Deribit claims in court filings that 3AC has failed to repay a loan of $80 million , the Financial Times reported Friday. The derivatives exchange said the crypto hedge fund was one of its initial shareholders. "Due to market developments, Deribit has a small number of accounts that have a net debt to us that we consider as potentially distressed," a Deribit tweeted in June. Crypto exchanges Bancor and CoinFlex are also under pressure from the liquidity crunch. Bancor said in June it would pause one of its investor protection features , but hasn't limited withdrawals from any accounts. Meanwhile, CoinFlex suspended all withdrawals on June 23. Roger Ver, the crypto evangelist known as ' bitcoin Jesus ', owes the exchange $47 million, it said, though Ver denies this. Crypto lenders Vauld and Hong Kong-based Babel Finance are the latest crypto lenders forced to pause withdrawals. Vauld , which is backed by Coinbase Ventures, paused services Monday and is now exploring restructuring . Several of Babel's top employees have quit the lender since it said it was freezing accounts on June 17, according to The Block . Celsius Network was one of the earliest victims of the liquidity crunch, as it froze all account withdrawals and transfers on June 13, citing "extreme market conditions". Three weeks later, the crypto lender's customers are still waiting for word on when they can get access to their money, and the firm has hired financial restructuring advisers. Meanwhile, Goldman Sachs is reportedly trying to raise $2 billion to buy assets from the troubled lender at a significant discount . BlockFi on Friday signed a deal to give FTX an option to buy the lender for a price as high as $240 million, its CEO Zac Prince tweeted Friday . It also increased its prior emergency $250 million loan from Bankman-Fried's company to $400 million. Prince noted BlockFi faces $80 million in losses from its loan to 3AC, but it doesn't expect any more fallout, having fully accelerated the loan and fully liquidated or hedged all the associated collateral. Crypto lender and market maker Genesis faces potential losses running into the hundreds of millions of dollars, thanks to its exposure to 3AC and Babel, CoinDesk reported Thursday. Read the original article on Business Insider || A More Positive Outlook Ahead of Q2 Earnings: It’s hard to stay positive in a market like this, but things seem to be looking up – at least in the short term. The most recent positive shift in investor sentiment couldn’t have come at a better time because this week is the start of second-quarter earnings. Here’s what happened… InvestorPlace - Stock Market News, Stock Advice & Trading Tips We started last week with a negative outlook; in our view, the market was in a no-win situation with the unemployment and labor report that would be released on Friday. If the jobs data from the Bureau of Labor Statistics (BLS) was good, investors would expect that to clear the way for an even-bigger-than-expected rate hike from the Federal Reserve and sell stocks. If the jobs data was worse than expected, investors would worry about recession and sell stocks. There didn’t seem to be a golden zone for the unemployment data to prevent a selloff… However, that’s exactly what appears to have happened. The BLS reported that jobs grew by 372K in June, which was much better than the expected 260K. The unemployment rate held steady at 3.6%. The news was so far beyond expectations that it offset the damage that would have otherwise been caused by expectations about the Fed. Investors are now pricing in a 0.75% rate hike in late July after that report but were willing to keep stock prices higher anyway. This was all good news. Even the so-called “meme stocks” like AMC Entertainment (NYSE: AMC ), Bed Bath & Beyond (NASDAQ: BBBY ), and GameStop (NYSE: GME ) staged a short-term comeback last week. So, considering all of that, here’s what we’re watching for this week. Looking Ahead Wednesday, July 13 The Consumer Price Index (CPI) will be released again for the prior month and expectations are high. Investors expect annualized inflation to be reported as 14%, or 7.44% if you exclude food and energy prices. This report will likely trigger volatility. Story continues Thursday and Friday, July 14-15 The big banks start reporting earnings, starting with JPMorgan Chase (NYSE: JPM ) and Morgan Stanley (NYSE: MS ), on Thursday morning and Citigroup (NYSE: C ), U.S. Bancorp (NYSE: USB ), and Wells Fargo (NYSE: WFC ) on Friday morning. Expectations for profits are low enough that jumping that hurdle shouldn’t be difficult for the banks. This could set things up for a nice rally through the end of July. Friday, July 15 Monthly retail sales will be released by the Census Bureau. So far, retail sales have been holding steady despite inflation, which is good. The U.S. economy is mostly consumption, so a negative report would spook traders. Expectations are for an increase of 0.9% in sales on a month-over-month basis. Considering the surprising jobs report, we are optimistic retail sales will look good. What to Do Over the last few weeks, we have recommended the tech sector for new entries, and we stand by that for this week as well. The Tech and Retail sectors performed the best last week, with average returns of 5.93% and 5.97%, respectively. However, the risk in these sectors is not evenly distributed. When the market rises, like it did last week, the smallest companies usually perform better, but experience more severe drops when the market declines. For example, over the last quarter, small-cap tech stocks have doubled the declines of large-cap tech stocks. So, even though the “meme stocks” made a comeback last week, we recommend steering clear of the riskiest stocks until the uncertainty around the Fed’s rate hikes has receded. We don’t expect to get clarity like that until later this fall. The bottom line : The market pulled off a neat trick last week by avoiding a selloff, despite rising expectations for rate hikes. There is a flood of quarterly profit reports starting this week, which is the biggest X-factor for traders right now. If profit growth rates are better than expected, we expect the S&P 500 to challenge its highs from May. More From InvestorPlace $200 Oil Sooner Than You Think – Buy This Now The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post A More Positive Outlook Ahead of Q2 Earnings appeared first on InvestorPlace . || Bitcoin and ETH Price Prediction: Market Could See “Liftoff”, AVAX Targets $30: • Bitcoin started a decent recovery wave above the $20,600 resistance.
• Ether (ETH) was able to recover above $1,160 and $1,200.
• AVAX broke a major bearish trend line on the daily chart.
After forming a base above the $19,500,bitcoinprice started a decent upward move. The price settled above the $20,000 resistance to move into a positive zone.
The bulls were able to clear the $20,600 resistance zone and the 21 simple moving average (H1). The current price action is signaling more upsides above the $21,000 resistance zone. The next major resistance might be $21,500.
A clear move above $21,500 might send the price towards $22,000. If not, bitcoin could correct and revisit $20,600. The next major support is now forming near $20,000.
ETHalso followed a similar pattern and started a recovery wave from the $1,100 support zone. There was a decent upward move above the $1,160 resistance zone.
Ether was able to surpass the $1,200 resistance level and the 21 simple moving average (H1). On the upside, the price is now facing resistance near $1,250. A clear move above the $1,250 level could start an increase towards $1,325.
If not, the price might correct lower and test the $1,200 zone. There is also a key bullish trend line forming with support near $1,195 on the hourly chart. The next major support is near the $1,160 level.
AVAXfollowed a bearish path below the $35 pivot level. There was a clear move below the $25 and $20 support levels. The price even dived below the $18 level.
Finally, the bulls took a stand near the $14 level. A base was formed and the price is now recovering above the $15 level. There was a move above a major bearish trend line with resistance near $18 on the daily chart.
An immediate resistance is near the $20 level. A close above the $20 level may perhaps start a major increase. In the stated case, AVAX may perhaps revisit the $30 resistance zone.
If there is no upside break, the price could revisit the $15 support. Any more losses might call for a test of the $12 support.
Cardano (ADA)is up 3% and trading above the $0.470 level. If it surpasses $0.48, the bulls could aim a decent increase.
Binance Coin (BNB)is slowly moving higher towards the $245 and $250 levels. The main resistance on the upside is near the $265 level.
Polkadot (DOT)is up over 3% and is currently approaching the $7.15 resistance. Any more gains might send the price towards the $7.32 level.
A few trending coins areSOL,DOGE, andMATIC. Out of these,SOL is gaining paceabove the key $35 resistance zone.
Thisarticlewas originally posted on FX Empire
• Exclusive-EU antitrust regulators probing tech group AOM’s video licensing policy
• UK’s BII to invest in new Mahindra EV unit at $9.1 billion valuation
• Minneapolis ex-cop Chauvin gets over 20 years in prison for violating George Floyd’s rights
• Dollar little changed as traders await key U.S. data
• Ghislaine Maxwell appeals conviction, 20-year sentence in Epstein case
• U.S. jury convicts Theranos’ Sunny Balwani of fraud || First Mover Americas: Crypto Winter Brings More Layoffs as BofA Sees Deep Freeze Avoided: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Good morning, and welcome to First Mover.I’m Lyllah Ledesma, here to take you through the latest in crypto markets, news and insights.
• Price point:Bitcoin drops 2%, tezos trades 8% upwards. Bank of America said in a report that concerns about a"crypto winter"have not frozen investor interest.
• Market Moves:A look at how and which meme coins are outperforming the broader market.
Bitcoin (BTC) is down 2% on the day and has flitted between the $20,000 - $21,000 range over the last 24 hours.
“BTC is oscillating prudently around the $19K-$21K range,” said Laurent Kssis, head of Europe at Hashdex. He's watching for any announcements related toGoldman Sachs's (GS) reported efforts to raise money from investors to buy Celsius assets. Those could be positive for the market, he said.
Kssis noted that the market could equally break lower if more companies announce halting of operations where client assets are at risk: “The market is treading very uncomfortably and many investors are waiting for further unpleasant news.”
Bitcoin is down 29% over the last month and has lost 70% of its value from an all-time high reached in November 2021.
Tezos (XTZ) traded 8% up on the day, one of the only assets in the green on Tuesday. XTZ is the currency of Tezos, a multi-purpose blockchain that runs smart contracts.
In traditional markets, U.S. stock futuresgainedafter the news of China’s loosening COVID-19 restrictions, easing concerns over global growth.
By Shaurya Malwa
Shiba inu (SHIB) and dogecoin (DOGE) led seven-day returns as bitcoin and other major cryptocurrencies broke above resistance levels and stabilized over the weekend.
Crypto and equity markets have rallied over the past week after U.S. Federal Reserve Chair Jerome Powell signaled a softened stance on rate increases. Powell said the agency’s commitment to reining in inflation, which is now at a 40-year high, was “unconditional,” adding that he expected economic growth to pick up in the second half after a sluggish start to the year, aspreviously reported.
Meme coins outperformed the broader market, with SHIB posting returns of over 40% and Dogecoin’s DOGE tokens climbing more than 30% over the period. The tokens fell in the past 24 hours on profit-taking. SHIB lost 6% and DOGE fell 7.4%.
SHIB rose to as high as $0.000011 on Sunday from last week’s low of $0.000008, while DOGE spiked to over 7 cents from last week’s 5-cent low. Such price action caused futures tracking the two tokens to rack up millions of dollars in liquidation losses,Coinglass datashow.
Some analystsexplained last week’s rallyas showcasing speculative behavior from investors making risky bets on the duo’s upside. Others said reasons for caution remain.
Read the full story here:Speculation Fuels Shiba Inu, Dogecoin to Biggest Seven-Day Gains as Bitcoin Steadies
• Bank of America Says Crypto Winter Concerns Haven't Frozen Investor InterestBlockchain technology is the most significant evolution of software since the internet, the report said.
• Blockchain Analytics Firm Kaiko Raises $53M Series B Led by Eight Roads Amid Bear MarketThe investment will enable Kaiko to further strengthen its institutional data products and infrastructure, it said.
• Harmony Attacker Moves Over $44M Worth of Stolen Ether, Authorities AlertedHarmony is working with two blockchain tracing and analysis firms and collaborating with the FBI, developers said.
• Huobi Global Could Cut Over 30% Workforce as China Crackdown Leads to Fall in RevenueChina's decision to ban crypto trading last year caused Huobi a sharp drop in revenue.
• Final Toncoin Mined Ahead of Transition to Proof-of-StakeFrom now on, new toncoins will only enter circulation by PoS validation, resulting in a decrease of new TON entering the network by about 75% to 200,000 daily.
Today’s newsletter was edited by Parikshit Mishra and produced by Stephen Alpher. || The Investor’s Definitive Guide to Proof-of-Work and Proof-of-Stake (Abridged): If you know anything about crypto and also read the news, I’m sure you’ve read about crypto mining. And if you’ve read about crypto-mining, you’ve read about how Bitcoin depends on proof-of-work (which is so so so terrible for the environment ) and about how Ethereum is moving from proof-of-work to proof-of-stake soon (which is so so so much better for the environment ). Which is better? In answering that, most proof-of-work versus proof-of-stake pieces either get too technical or are too obviously biased. From an investor perspective, you just want the facts and the trade-offs so that you can make an investment decision. So herein lies the “Investor’s Definitive Guide to Proof-of-Work and Proof-of-Stake (Abridged).” An actual book could be written about this, so a lot of the technical nuances will be papered over to avoid word-count creep. But first, a quick detour that I promise is relevant ... You’re reading Crypto Long & Short , our weekly newsletter featuring insights, news and analysis for the professional investor. Sign up here to get it in your inbox every Sunday. This might surprise you, dear reader, but investing and software engineering aren’t too different. Fundamentally, investing is about trade-offs. So is software engineering. In investing, you have a certain amount of capital and you allocate that certain amount of capital in a certain way. When you choose to invest in Thing 1, you can’t also invest that same capital into Thing 2. And in choosing to allocate to Thing 1 over Thing 2, the allocator takes several things into account like expected return, risk profile or if investing in Thing 2 would be cause for termination because the boss’s boss doesn’t like Thing 2 for whatever reason. Read more: BlackRock Has Entered the Chat In software engineering, you have a product that has a particular behavior and structure. An engineer will design something that behaves a certain way and will make structural decisions for the code. These structural decisions determine how easy it will be to make adjustments down the road. Story continues Cryptocurrencies aim to operate their networks without the (extensive) use of third parties. To do that, network participants need a way to decide on what’s what and come to a consensus. Enter the consensus mechanisms. There are many consensus mechanisms, but the two most important ones are proof-of-work (PoW) and proof-of-stake (PoS). Read more: What’s at Stake: Will the Merge Turn Ether Into a Security? Between the two, there are trade-offs. But the most critical thing to know about consensus mechanisms is that they need resilience to ward off attackers of the network (be they competitors, governments or a cabal of wealthy individuals). So let's take a piecemeal approach for the Investor’s Guide by first defending PoW (in the context of Bitcoin); second, defending PoS (in the context of Ethereum); and third, outlining (some of) the trade-offs. In defense of proof-of-work There are so many awful comparisons people use to describe proof-of-work. Here’s one of mine. There’s a lottery. To win the lottery, you need to buy the winning lottery ticket. To buy a lottery ticket, you need a computer that can do lottery-ticket buying. The more computers you have, the more lottery tickets you can buy. If your lottery ticket matches the winning number, you win. So the more computers you have, the more likely you are to win the lottery. In bitcoin, which uses PoW, miners (as the PoW lottery ticket buyers are called) use application-specific computers to guess the number on the winning lottery ticket. Those computers have microchips that can do the guessing and run on electricity. The only way to get the right number is to do the work. Read more: What Is Proof-of-Work? Proof-of-work has distinct advantages and disadvantages: PoW is a resilient way to build distributed consensus and deter spam . Proof-of-work has been used in Bitcoin since it launched in 2009 to trustlessly run a decentralized, borderless, open payment network. Bitcoin’s proof-of-work mechanism worked just as well when a bitcoin was worth 6 cents as it did when it was worth $60,000. Bottom line: Proof-of-work works, and it works really well. That said, proof-of-work consensus mechanisms are hardware-intensive and rely on high-demand microprocessors . As a result, investing in proof-of-work can take time if there are supply-chain disruptions ( as we’ve seen recently ). Due to the need for consistent electricity and warehouse space, there are centralizing geographic choke points where mining tends to coalesce in places with adequate space and cheap electricity. So while miners may be distributed across machines, they could all end up setting up shop in, say, the Chinese province of Sichuan . Proof-of-work does have a double-edged sword, depending on your specific framework. It uses electricity. I’m not going to argue about whether bitcoin is a valiant use of electricity or is utilizing the right kind of electricity , but it certainly uses it. Yes, proof-of-work could monetize otherwise wasted electricity , stabilize power grids and boost local economies, but bitcoin mining has revitalized some otherwise obsolete fossil-fuel electricity generation plants. In defense of proof-of-stake There are so many awful comparisons people use to describe proof-of-stake. Here’s one of mine. There’s a lottery. To win the lottery, you need to purchase a lottery ticket. To be allowed to buy a lottery ticket, you must be chosen. To be chosen, you need to commit money to the lottery. The more money you commit, the more likely you are to be chosen. If you’re chosen to buy a ticket, your ticket will automatically match the winning number and you win. So the more money you have committed, the more likely you are to win the lottery. In Ethereum, which will eventually use proof-of-stake , validators (as the PoS lottery ticket buyers are called) are chosen randomly to win the lottery based on the amount of capital they have staked. The way to get chosen more often is to stake more capital. Read more: What Is Proof-of-Stake? Proof-of-stake has advantages and disadvantages: It is an effective means to build distributed consensus. While nothing is as battle-tested as PoW, there are cryptocurrencies that have been using PoS successfully for several years. In the world of Ethereum specifically, it is very expensive to become a validator. To become a validator and participate in the lottery, you need to commit 32 ETH (about $60,000). Granted, there is a mechanism in which you could commit less ETH to a pool of capital that is then staked , but that isn’t the same thing. The high starting cost could result in a “rich blockchain” with only wealthy capital holders participating in validating. PoS does have a double-edged sword, depending on your specific framework. It uses capital. In a way this is advantageous, because anyone anywhere with enough money can become a validator. There isn’t the same geographic centralization risk as there is with PoW (although, there may be one given wealth inequality across the globe). That said, because PoS only requires capital, the barrier to entry can be lower. (Some of) the trade-offs As mentioned earlier, this could take up an entire book. The following trade-offs between PoW and PoS are not exhaustive. It is easier to attack a PoS network because PoW is more resilient. Stealing some thoughts from Andreas Antonopoulos , all it takes to attack a PoW network is “electricity and hardware brought together at the right time at the right place with the right incentives” and logistically, this is becoming harder and harder to pull off. With PoS, all it takes is money. To the credit of Ethereum under PoS, it will still take a lot of money to attack the network, but it requires less coordination. That said, PoS is theoretically more accessible because it only requires capital. Granted, it can be a lot if you’re looking at Ethereum (around $60,000), but the coordination mentioned in the previous paragraph can be a barrier to entry that doesn’t exist in proof-of-stake. In a similar vein, proof-of-stake is more mobile than proof-of-work. Given the electricity draw needed for proof-of-work, a government can figure out where miners are operating and shut down individual locations. Moving a proof-of-work operation that’s been shut down to a new location takes a lot of work. We saw this happen when China banned bitcoin mining last year, which led to a drop in network activity that eventually recovered ( although it took some time ). Moving a PoS operation would be trivial in comparison. Last one I’ll touch on (but not expand on, because I don’t truly believe it should matter) is that PoS doesn’t use electricity and PoW does. So if you’re a single-issue investor, investment in PoW might not even be a consideration for you. There are merits to PoW and I have spent years defending bitcoin mining (privately and professionally ), but in the end, I’m not here to tell you how to think or what to do. || E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Soft NFP Data Could Slow Rate Hike Pace: September E-mini Dow Jones Industrial Average futures are inching lower on Friday as investors await a key jobs report due to be released at 12:30 GMT. The blue chip average edged higher the previous session on less-hawkish comments from a couple of Fed officials. At 09:37 GMT, September E-mini Dow Jones Industrial Average futures are trading 31279, down 88 or -0.28%. On Thursday, the SPDR Dow Jones Industrial Average ETF (DIA) settled at $313.88, up $3.47 or +1.12%. The June employment report due on Friday is expected to show another month of strong hiring as the labor market bucks any signs of an impending recession or economic slowdown, CNBC said. Economists expect the report to show the U.S. economy added 250,000 jobs last month and that the unemployment rate will remain flat at 3.6%, according to Dow Jones. In other news, two of the Federal Reserve’s most vocal hawks on Thursday said they would support another 75 basis-point interest rate increase later this month but a downshift to a slower pace afterward, even as both downplayed the risk of higher borrowing costs pushing the United States into recession, Reuters reported. Daily September E-mini Dow Jones Industrial Average Short-Term Outlook Trader reaction to the short-term 50% level at 31447 is likely to determine the direction of the September E-mini Dow Jones Industrial Average futures contract early Friday. Bullish Scenario A sustained move over 31447 will indicate the presence of buyers. If this move creates enough upside momentum then look for a surge into the resistance cluster at 31867 to 31874. A move through 31867 will change the main trend to up. While taking out the Fibonacci level at 31874 could trigger an acceleration to the upside. Bearish Scenario A sustained move under 31447 will signal the presence of sellers. This could lead to a labored break with potential targets a series of retracement levels at 31099, 30753 and 30490. Taking out the main bottom at 30331 will signal a resumption of the downtrend. For a look at all of today’s economic events, check out our economic calendar . Story continues This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin, ETH and AAVE Price Prediction: Strengthening Bullish Case Angola’s former president dos Santos dies aged 79 USD/JPY Weekly Price Forecast – US Dollar Continues to Power Higher Against the Japanese Yen AUD/USD Weekly Price Forecast – The Australian Dollar Continues to be Thrown Around Lloyd’s of London says it wants to stay in City tower GBP/USD Weekly Price Forecast – The British Pound Continues to Slump
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 21528.09, 21395.02, 21600.90, 20260.02, 20041.74, 19616.81, 20297.99, 19796.81, 20049.76, 20127.14
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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 2021-01-14]
BTC Price: 39187.33, BTC RSI: 69.18
Gold Price: 1850.30, Gold RSI: 45.20
Oil Price: 53.57, Oil RSI: 75.95
[Random Sample of News (last 60 days)]
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. Story continues 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 at bloomberg.com/opinion Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. || Stampede of Bitcoin Buyers Pushed BTC Past $20K, Exchange Data Shows: Twenty thousand isn’t just a nice round number. It’s a floodgate that’s now been opened.
Exchange data shows exactly how the dollar price ofbitcoinbroke the key psychological $20,000 threshold in early trading hours Tuesday and kept on going. The pattern could be a sign of long pent-up demand for the cryptocurrency, and underscores that seemingly arbitrary levels do matter to the market.
According to data provided by on-chain crypto analytic firm CryptoQuant, there was an unusual spike in the number of stablecoin inflow addresses for all exchanges, an indicator of “extreme buying power,” between 13:30-13:40 UTC (8:30 a.m. to 8:40 a.m. ET).
Related:Above $100: Litecoin Hits Highest Price Since Summer 2019
“Many people were trying to deposit stablecoins to buy BTC,” Ki Young Jun, chief executive of CryptoQuant, told CoinDesk.
A chart provided by crypto data portal CryptoWatch shows that approximately $45 million was traded on Kraken’s BTC/USD spot market from 13:30-14:00 UTC as bitcoin’s price moved up by 5%.
It was not clear what drove the surge of bitcoin buying orders on exchanges at the time, but it occurred just asCoinDesk published a story that U.K.-based Ruffer Investments confirmedit invested about $744.26 million worth of bitcoin in November.
Also on Wednesday, the Chicago Mercantile Exchange (CME)announcedit will launch a futures contract onetherin February 2021.
Related:Bitcoin Drops Nearly 7% After Setting New Record High of $23,770
Some analysts are anticipating larger buyers in the coming months.
“Looking forward to 2021, we should expect the outsized bids of institutions to have a much greater determining influence on the price of bitcoin and other cryptocurrencies,” Artur Sapek, founder of CryptoWatch, told CoinDesk.
Read more:Bitcoin 101
With an increasing number of institutions in North America and Europe buying bitcoin as an inflation hedge, there is a shrinking supply of the cryptocurrency in the marketplace, according to Simons Chen, executive director of investment and trading at Hong Kong-based crypto lender Babel Finance. Demand was thus able to break through a significant amount of resistance near the previous record high.
“There had been some orders sold at around $20,000 from people who bought bitcoin at high prices back in 2017,” Chen said. “But those orders are mostly gone by now and $20,000 has become the new supporting level.”
• Stampede of Bitcoin Buyers Pushed BTC Past $20K, Exchange Data Shows
• Stampede of Bitcoin Buyers Pushed BTC Past $20K, Exchange Data Shows || The Bitcoin Fund Announces Successful Offering: Not for distribution to U.S. newswire services or for dissemination in the United States . TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) -- ( T S X: QBTC , QBTC.U ) The Bitcoin Fund (the Fund) is pleased to announce a successful treasury offering of 2,222,300 Class A units (the Class A Units). Gross proceeds of the offering are expected to be US$50,001,750. The offering is expected to close on or about November 30, 2020 and is subject to certain closing conditions including approval by the Toronto Stock Exchange (TSX). The Class A Units were offered at a price of US$22.50 per Class A Unit. The Class A Unit offering price was determined so as to be non-dilutive to the most recently calculated net asset value per Class A Unit on November 24, 2020. The Fund seeks to provide unitholders of the Fund with (a) exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin and (b) the opportunity for long-term capital appreciation. To achieve its investment objectives, the Fund invests in long-term holdings of bitcoin, purchased from reputable bitcoin trading platforms and OTC counterparties, in order to provide investors with a convenient, safer alternative to a direct investment in bitcoin. The agent for the offering was Canaccord Genuity Corp. About 3iQ Corp. Founded in 2012, 3iQ Corp. (3iQ) is Canadas largest digital asset investment fund manager with more than C$325 million in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund, The Bitcoin Fund (TSX: QBTC ). Gaining access to digital assets such as bitcoin can be daunting, costly, and inconvenient. 3iQ has worked through a stringent regulatory process to offer investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and The Bitcoin Fund, visit www.3iQ.ca or follow us on Twitter @3iQ_corp. Contact Information Fred Pye - President and CEO E: fred.pye@3iQ.ca P: +1 (416) 639-2130 A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicat e. The Fund intends to file a supplement to the short form base shelf prospectus , and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the s ecurities c ommissions or similar authorities in each of the provinces and territories of Canada. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange or other alternative Canadian trading system (an exchange). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. Story continues There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in its public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the Fund , to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund . In some cases, forward-looking information can be identified by terms such as may, will, should, expect, plan, anticipate, believe, intend, estimate, predict, potential, continue or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful . View comments || Ripple says it will be sued by the SEC, in what the company calls a parting shot at the crypto industry: Ripple, one of themost importantcompanies in the cryptocurrency industry, said Monday evening that the Securities and Exchange Commission is poised to file a bombshell lawsuit against the company over the alleged sale of unlicensed securities.
The lawsuit also names Ripple CEO Brad Garlinghouse and cofounder Chris Larsen as defendants. On Tuesday afternoon, the SECfiled the suit in question, claiming the company and executives sold $1.3 billion worth of unregistered securities.
The action will follow years of debate between the company and the agency about whether XRP, a digital currency associated with Ripple, is a security, like a share of stock—which must be registered with the agency—or is instead a currency and thus beyond the SEC’s purview. XRP is the third most valuable cryptocurrency, and currently has a market cap of $23 billion.
Ripple’s decision to announce it was about to be sued was an unusual one. Garlinghouse has predicted the incoming Biden administration may be friendlier to the cryptocurrency industry than the Trump administration has been, suggesting that Ripple’s preemptive announcement may have a political component.
Garlinghouse also blasted the SEC’s decision to sue right before the holidays, and said Ripple will fight the case. “It’s not just Grinch-worthy, it’s shocking,” said Garlinghouse. “It’s an attack on the entire crypto industry and American innovation.”
In recent years, the SEC has ruled that the two most valuable cryptocurrencies—Bitcoin and Ethereum—are not securities, partly on the grounds they are decentralized with no person or company in control of them.
XRP is different from Bitcoin and Ethereum in that the latter two currencies are minted in a gradual, ongoing process called mining. By contrast, Larsen and others created 100 billion units of XRP in one fell swoop in 2012 for a company called Ripple Labs. While Ripple continues to own the lion’s share of XRP, the bulk of its treasury is held in reserve, to be sold in scheduled allotments. Garlinghouse and Larsen also each own a significant amount of XRP. This arrangement has led some observers to view XRP as more akin to a company’s stock than a currency.
Ripple has pushed back aggressively for years on the notion that XRP is a security. The company notes it does not have discretion to tap the reserve funds as it wishes, and that XRP has become increasingly decentralized as banks and other merchants use it asa bridge currencyin cross-border transactions. According to Garlinghouse, the SEC regarding XRP as a security controlled by Ripple is akin to viewing oil as a security controlled byExxon.
Now, the issue could be resolved by a federal judge, in a case that would have implications for the booming cryptocurrency industry. The SEC recently wona caseinvolving the messaging app Kik, which issued cryptocurrency tokens to its customers. A judge in that case declared the tokens in question were unlicensed securities.
The facts of the Kik case, however, are different from those involving Ripple: Kik sold its tokens directly to would-be investors at the height of the crypto bubble of 2017, in seeming defiance of an SEC directive earlier that year. In contrast, Ripple began pursuing business ideas around XRP nearly eight years ago, at a time when the agency had offered no guidance on digital tokens.
The upshot is that the outcome of a theoretical Ripple case is far from certain.
In remarks toFortune,the Ripple CEO blasted the agency and its chairman, Jay Clayton, for deciding to sue at a time when Clayton and other senior SEC officials are departing as part of the presidential transition. “Clayton did this with one foot out the door. Rather shamefully, he has decided to sue Ripple, and leave the legal work to the next chairman,” Garlinghouse said.
The legal dustup comes months after Larsen and other Ripple executives havesuggestedthe company may relocate its headquarters outside the U.S. in response to what they declare is overbearing behavior by regulators. Garlinghouse said on Monday that it was “confounding” that the SEC would decide to sue even as countries like Singapore, Switzerland, and Japan have declined to treat XRP as a security.
Garlinghouse also struck a nationalist note, noting that the bulk of Bitcoin and Ethereum is created in communist China, while Ripple is an American company.
The SEC is not the only regulator to draw the ire of U.S. cryptocurrency entrepreneurs. Over the past week, the Treasury Department has proposed a rule that would require banks and exchanges like Coinbase to verify the identity of so-called unhosted devices and software wallets that can transact in Bitcoin and other cryptocurrencies.Critics say the movecould stifle the emerging industry known as “decentralized finance” and complain that the 15-day comment period for the proposed rule—which will span the holidays—is too short.
Garlinghouse characterized that Treasury decision and the SEC lawsuit as parting shots by Trump administration officials who are implacably hostile to crypto. He predicted that the industry may find more favor with the incoming Biden administration.
In the meantime, he says Ripple is preparing to litigate.
“I think we have to stand up for all of crypto—and not let the SEC bully the entire industry,” said Garlinghouse, adding, “We’re going to be on the right side of history.”
This story was updated on December 21 to reflect the SEC has filed the lawsuit.
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This story was originally featured onFortune.com || Bitcoin – The Surge, The Outlook, and The Beneficiaries: Following greater regulatory oversight and disclosure,Bitcoinhas drawn the interest of private and public companies in addition to traders and investors.
A number of companies currently have sizeable Bitcoin holdings. Not only have they benefitted from the 2020 breakout but will see even more impressive gains should Bitcoin hit 6 figures this year.
According toBitcoin Treasuries, a large number of public trading companies have benefited from holding Bitcoin.
These include:
Microstrategy Inc.(“NADQ:MSTR”) – A U.S entity, with a reported holding of 70,470 BTC.
Galaxy Digital Holdings(TSE:GLXY”) – Canadian entity that purchased $134m worth of Bitcoin on 30thJune 2020, equivalent of 16,651 BTC.
Square Inc.(“NADQ:SQ”) – U.S entity, with a reported holding of 4,709 BTC.
Hut 8 Mining Corp.(TSX:Hut-8”) – Canadian entity, with a reported holding of 2,953 BTC purchased in Q2, 2020.
MTGOX K.K – Japan private entity, with a reported 141,686 BTC holding.
Block one – U.S private entity, with a reported 140,000 BTC holding.
The Tezos Foundation – Swiss private entity, with a reported 24,808 BTC holding.
Stone Ridge Holdings Group – US entity, with a reported 10,889 BTC holding.
In addition, there are ETF like entities holding Bitcoin, where institutional and private investors have benefited from the Bitcoin surge.
Grayscale Bitcoin Trust – A U.S entity holding a reported 572,644 BTC
CoinShares / XBT Provider – An EU entity holding a reported 69,730 BTC.
Ruffer Investment Company – A UK entity holding a reported 45,000 BTC.
While some entities are established and directly involved in the crypto markets, other Bitcoin holders are not.
With Bitcoin price stability having returned after the slide to the 2020 low of $4,000, the upward trend has drawn sizeable institutional money.
In considering the more than 700% surge since the March low, balance sheets for these entities would have seen marked improvement.
Looking ahead, the number of entities is likely to increase. Existing Bitcoin holders are certainly well placed to reap greater rewards. Existing holders will also benefit from a significantly lower risk of being Bitcoin holders.
There have been plenty of Bitcoin price projections for 2021 flying around. When considering the upward surge from last year’s low of $4,000, $100,000 would be a conservative price forecast for 2021.
The largest reported public company Bitcoin holder, Microstrategy Inc., would see its Bitcoin holdings of 70,470 surge in value to $7.05bn. As of the end of 2020, its Bitcoin holding was valued at approximately $2.04bn.
Galaxy Holdings, the 2ndlargest public company Bitcoin holder would see its $134m BTC investment hit the dizzying height of $1,665.1bn. With a current market cap of C$1,014bn, a Bitcoin visit to $100,000 would double the companies market cap. Not a bad return for shareholders…
Private companies have an even more impressive exposure to Bitcoin and have seen unprecedented rewards from their Bitcoin holdings.
Japan’s MTGOX K.K., would see its Bitcoin holdings rise from $1.1bn to $14.2bn should Bitcoin reach $100,000 in the year ahead.
Finally, looking at the Bitcoin ETFs, Grayscale Bitcoin Trust reportedly holds 572,644 BTC. A Bitcoin jump to $100,000 in 2021 would give Grayscale and its investors $57.3bn in Bitcoin investment income.
For investors that have no direct exposure to Bitcoin, indirect benefits to Bitcoin’s newfound strength will boost returns.
Shareholders may also look to pressure companies to rejig balance sheets and have some exposure to Bitcoin. Short and long-term bonds and cash holdings may not cut it anymore.
There are fiduciary obligations, however. So, we may not see public and private companies purchase Bitcoin in the numbers seen to-date.
Few shareholders would complain about the likely dividends that would result from a Bitcoin surge to $100,000.
Downside risks are ever-present, however, and the more risk prudent investor will be mindful of the impact of any Bitcoin meltdown.
The good news, for the companies discussed above, however, is that Bitcoin would need to take quite a hit to give them a Bitcoin loss.
Thisarticlewas originally posted on FX Empire
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• USD/JPY Price Forecast – US Dollar Bounces From Low Level || The biggest conspiracy theories of 2020 (and why they wont die): Between the prolonged coronavirus pandemic and an unusually intense U.S. presidential election, 2020 conspiracy theorists had plenty of fuel to burn. It will hardly end in 2021, according to those who study misinformation. Experts predict that several of these theories will enjoy unusually long lifespans into the new year. They also believe that growing amplification of conspiracy theories by partisan media outlets, social media algorithms, and politicians will continue. Were moving to a new era of alternative facts, said Yotam Ophir, assistant professor at the University of Buffalo who studies misinformation. There is a sense that we cant trust anyone anymore and that any argument is as good as the next. 2020 was a milestone year for conspiracy theories for three reasons, according to experts. Extreme partisanship in the U.S. turned several nonpolitical events into political flashpoints. Partisan news sources and politicians as senior as President Trump became more willing to amplify misinformation as long as it aligns with their politics. And algorithm-driven social media destinations deepened their penchant to become echo chambers for like-minded people to confirm their biases, evolving into strategic tools for politicians and conspiracy theorists to rapidly spread misinformation and influence the populace. All of these elements came together during a year burdened by global uncertainty and social anxietyenvironments in which conspiracies thrive, Ophir said. Whats more, the real-world harm that could result from conspiracy theories tends to hit underrepresented communities harder, said Nicol Turner-Lee, the director of the Center for Technology Innovation at the Brookings Institution. They suppress some voices in communities where [the consequences] really matter, she said. Some of the things that were put out were emboldened by our political climate and racial division. Experts say several changes must be made to combat the rapid rise of conspiracy theories. There needs to be a public educational effort to help people discern real news from fake news. Social media companies have to do a better job at fighting misinformation and conspiracy theories. And the general public must genuinely question what they see and read, rather than merely seek to confirm what they hope is true. Until that happens, conspiracy theories will proliferate unabated. Story continues Without further ado, here are three of 2020s biggest conspiracy theories: 1. Coronavirus Everything After a new strand of COVID led to a pandemic in 2020, conspiracy theories emerged about everything from the virus origin to the latest vaccines and treatments. Conspiracy theorists suggested that the new 5G wireless broadband standard may have caused or spread the coronavirus , leading arsonists in the U.K. to set 5G towers on fire. Some conspiracists suggested the coronavirus was created in Chinese lab as an attempt to create a bioweapon against enemies. Another conspiracy promulgated in China suggested that U.S. military members visiting Wuhan brought the virus to China. Even Microsoft co-founder Bill Gates couldnt escape conspiracist scrutiny: one theory suggested the billionaire, who has spent much of his post-Microsoft life investing in health initiatives in underserved areas of the globe, was responsible for creating the virus in order to profit off a vaccine. For a while, many Americans bought into the mistaken idea that the coronavirus was a politically motivated hoax meant to take down President Trumpor that it was a virus akin to influenza and therefore not a big deal (even though big deal is relativethe flu kills anywhere from 10,000 to 60,000 people each year). Both of these suggestions were amplified by conservative politicians, including President Trump. As for treatment and prevention, conspiracy theorists suggested that masks would somehow awaken a dormant coronavirus living inside peoples bodies. (Uh, no.) Others suggested that drinking or injecting bleach would cure the disease. (An extremely dangerous proposition, according to every poison control center in the nation.) The most recent theories argue that the vaccine (which measures about 125 nanometers) contains a microchip to allow the government to monitor Americans, that the drug (which uses mRNA to provoke an immune response) will alter peoples DNA, or that peoples immune systems are far better than any vaccine. Almost 2 million people worldwide have died from COVID-19 to date. Over time, experts predict many of theories will slowly fade, but some fear that the latest conspiracy theories about the coronavirus vaccine will lead to strengthening the antivaxxer movement. COVID will come and go, Ophir said. But what about all the other vaccines? Will there be a spillage to the HPV vaccine? To the flu vaccine? 2. QAnon Goes Mainstream QAnon, a disproven conspiracy theory involving an alleged global child sex-trafficking ring, used to be associated with the far-fringy right . In 2020, though, it gained new lifeas well as two mouthpieces in a newly elected U.S. Congress who could amplify the message further. Some QAnon theories describe President Trump as a savior figure elected to end these nefarious activitiesall of which have been perpetrated by the left, naturallyand bring alleged members to justice. (Who, might you ask? Oprah Winfrey, Tom Hanks, Hillary and Bill Clinton, and a raft of other high-profile, big-ticket Democratic donors.) The conspiracy theory should have died when it first emerged in 2016naturally, the year Trump was elected U.S. presidentbut 2020 saw politicians and churchgoers alike revive parts of it. Kelly MacFarland, director of programs and research at Georgetown Universitys Institute for the Study of Diplomacy, says he expects QAnon to be the most long-lasting and dangerous conspiracy theory, citing a conspiracy theorist who shot at a Washington, D.C., pizzeria in 2016 believing it was tied to the child trafficking sex ring. Its the most dangerous because of its following and reach, its complete disassociation from truth and reality, and we have an actual real-life example [of violence], MacFarland said. 3. A Rigged Presidential Election Though 2020 set a new bar for claims that the U.S. presidential election was rigged, President Trump helped originate the idea before he entered the White House in 2016. After several polls inaccurately predicted that Hilary Clinton would win the 2016 presidential election, Trump suggested that the election was rigged, tweeting that there was large scale voter fraud occurring in battleground states. Trump went on to win the election, of coursethough not the popular voteand such claims went quiet. But with Trump facing reelection, the theory took on new fervor in 2020 . The president began building momentum early, suggesting that mail-in voting would lead to widespread fraud . Conservative commentators quickly echoed his remarks. The effort carried all the way through to Election Day, when armed Trump supporters showed up at some polling locations urging that election officials stop counting ballots. After several court cases and recounts, the theory was dismissedbut that hasnt stopped conspirators from alleging faulty counting machines and deliberate manual miscounts. In the wake of Trump losing the election to Democratic challenger Joe Biden, Trump and his allies have lost nearly 60 legal battles pertaining to election integrity. Still, Trump has not backed down from his stance that the election was a fraud and stolen from him. Because it has gotten so much attention from the highest level of the U.S. government, this is going to emerge as part of the pantheon of conspiracy theories, said Joshua Tucker, co-director of New York Universitys Social Media and Political Participation lab. Whether Biden actually won the election will [be grouped] with the JFK shooting and whether we landed on the moon
which is crazy. More must-read stories from Fortune : When to expect $600 checks and $300 enhanced unemployment payments Everything jobless Americans need to know about the $300 unemployment benefit COVID vaccine recipients may still be infectious. When will we know for sure? The biggest conspiracy theories of 2020 (and why they wont die) A brief history of Bitcoin bubbles This story was originally featured on Fortune.com || Tesla FSD Monthly Subscription Coming Soon, Musk Suggests: Tesla Inc(NASDAQ:TSLA) CEO Elon Musk said Sunday that the automaker will release a subscription service for its full self-driving software early next year.
What Happened:The billionaire entrepreneur made the disclosure in response to a query by a Twitter user.
In October, Musk had said Tesla would make the FSD softwareavailableon a monthly subscription basis sometime in 2021.
The software is likely to be priced for no less than $100 per month and may cost more than that, Electrekreported. Despite the steep price, some users may be interested in a subscription service.
See Also:Tesla's Big Advantage Over Legacy Automakers? Software, Says Munster
“We do understand that some customers who have ownership or have leased their vehicles did not purchase that option front. And so this will enable those customers to spread out the cost of ownership of FSD or subscription over time,” said Tesla’s Chief Financial Officer Zachary Kirkhorn at the company’s Q1 conference call.
Musk said last week that the FSDwas dueto get “absurdly good” in the future.
Price Action:Tesla shares closed nearly 6% higher at $695 on Friday and fell almost 2.6% in the after-hours session to $677.
Clickhereto check out Benzinga’s EV Hub for the latest electric vehicles news.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 hbell@etf.com
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Permalink| © Copyright 2020ETF.com.All rights reserved || ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Global Regulation: European Central Bank (ECB) President Christine Lagarde saysbitcoinhas facilitated “funny business” and needs to be regulated at the international level.
• In an interview at a Reuters online event Wednesday, Lagarde said the “highly speculative asset” has led to “some reprehensible activity,” including money laundering, and any loopholes need to be closed, according to a report fromReuters.
• “There has to be regulation. This has to be applied and agreed upon … at a global level because if there is an escape that escape will be used,” she said.
• The European Union central bank chief added there will be a digital euro, hopefully in no more than five years, according to other reports.
• The ECB has been looking into the benefits and risks of a euro-based digital currency since the Facebook-backed diem (formerly libra) projectwas announcedin June 2019.
UPDATE(12:40 UTC, Jan. 13 2021): Added further detail from Reuters report.
Read more:Lagarde Seeks Public Comments About a Digital Euro, Implying a Broad Retail Offering Is Now on the Table
• ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Global Regulation
• ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Global Regulation
• ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Global Regulation
• ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Global Regulation || Tycoon Copy Trading Platform is Now Live!: PAPHOS, CYPRUS / ACCESSWIRE / December 20, 2020 /The world's most advanced social trading platformTycoonis now live. The platform that has already garnered a lot of interest within the crypto community allows easy access and entry to all kinds of traders in an effort to leverage from the booming cryptocurrency market.
The Time is Ripe
Bitcoin is at an all-time high. And this time the bull run is fueled by an institutional rally that has seen many top financial institutions pumping money in the market as a means to hedge their investment risks. All of this coming at the backdrop of a scary year marred by a global pandemic and compounded by an economic downturn.
The interest in alternative forms of wealth, especially digital assets, is also at an all-time high. This has seen thousands of individuals - from complete novices to experienced traditional financial traders - enter the crypto trading ecosystem. To make the ecosystem more robust, it has to provide confidence in the minds of traders that their investments are safe and secure. This can happen if novice traders make handsome profits. This can only happen if they get professional advice to wade through the volatile crypto markets.
Tycoon Allows Easy Entry into Crypto Trading
To help such traders, Tycoon has created the world's most advanced social trading platform that connects all kinds of traders through a powerful API on theBinanceexchange, the world's largest and most reputed digital assets management platform.
Novice traders can simply follow professional traders and "copy" their trades. When the pro trader makes a profit, so do the novice traders following him or her. The pro trader earns reputation and attracts more followers and the followers earn while they learn the ropes of successful trading.
"Copy trading on Tycoon means actually copying professional traders that trade real cryptocurrencies on a real exchange."
The reason for emphasizing the "real" is that nowadays copy trading is mostly offered by CFDs Market Maker Brokers, which means that traders are not trading real assets but rather financial derivatives and most of these brokers profit from trader's losses without being clear and honest about it. These brokers also hold the traders' funds at their discretion and determine the pricing on the assets they offer for trading.
What Sets Tycoon Apart?
• Tycoon Platform doesn't make money if traders don't profit. The Tycoon platform has a profit share-based business model and has the customer's best interest at heart.
• Tycoon platform doesn't hold traders' funds.Tycoon acts as a connector between a follower, a trader and a cryptocurrency exchange. All funds are traders' own exchange account.
• Customers hold total control over what they do.Traders connect using an API key which can grant specific permissions to the platform, for example: read, execute, etc. Traders decide which permissions they give (according to their intentions, being a trader or a follower). Withdrawal permissions are not required, and only the owner can withdraw from their exchange account.
How to get Started as a Tycoon Trader
First of all, users must have a Binance account, then register to Tycoon (here) - different one than login used tobuy tokens. Log in to the Binance account and find API Management. If a customer doesn't have any API keys, the system will ask them to create an initial API key. Add API form binance to the tycoon account.
As a trader, the customer needs to focus on being the best trader they can be at their preferred exchange, something that will rank them high on the leaderboard.
With passing time and with more profitable trades, a trader will receive a massive following that will push him on the leaderboard. The higher up a trader is on the leaderboard, the better are his chances of attracting more followers and gaining benefits, rewards, and commission.
Launching the biggest trading competition
On 28thDecember, Tycoon is launching the world's most excitingtrading competition with a $75,000 prize pool. To participate in the trading competition, traders need to register on the Tycoon social trading platform. After signing up, they need to connect their API key (read-only settings) to their Tycoon trader account and start trading to prove they are the best!
By participating in this competition, traders get the opportunity to be the first traders to connect with the Tycoon platform and gain reputation and a chance to feature on the leaderboard, not to mention a chance to win from the generous prize pool. This will also provide first mover's advantage to the participants of this trading competition.
Tycoon's aim is to provide as much education about crypto trading so that traders can arm and empower themselves with high quality and reliable information and use that to trade and earn with confidence.
Join Tycoon to become part of the revolution!
Media contact
Company: Tycoon LtdAddress: 13 Tepelenoiou str. 8010 Paphos, CyprusEmail:info@tycoon.ioWebsite:www.tycoon.ioTwitterInstagramFacebookMedium
SOURCE:Tycoon Ltd
View source version on accesswire.com:https://www.accesswire.com/621755/Tycoon-Copy-Trading-Platform-is-Now-Live
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76, 32067.64, 32289.38
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Global Ransomware Attack Could Have Happened Using NSA Tools: A global ransomware attack of an unprecedented scale took place Friday, affecting healthcare services, banks and tech companies. The attack was reported by the CCN-CERT, the Spanish Government’s Computer Security Incident Response Team at 12:26 p.m. EDT, Friday. “An alert has been issued for a massive attack of ransomware that affects Windows systems, blocking the access to the files (in their hard disks as in the units of a network to which they are connected). The special criticality of this campaign is caused by exploiting the vulnerability described in bulletin MS17-010 using EternalBlue / DoublePulsar, which can infect other connected Windows systems on the same network that are not properly updated. Infection of a single computer can end up compromising the entire corporate network,” the organization said in its press release. (Translated from Spanish) Read: Americans Leading Target Of Ransomware According to antivirus company Avast , 75,000 attacks had been reported in 75 countries, at the time of writing. The ransomware used in the attack is called WanaCrypt0r 2.0 or WanaCry and is available in 28 different languages ranging from Bulgarian to Vietnamese. The ransomware changes the affected file extension to.WNCRY. Once the ransomware has taken control of the computer, it then drops ransom notes in a text file, demanding $300 payment in the form of Bitcoins. The ransom note ends with a peculiar reassurance for victims, saying: "Don’t worry about decryption. We will surely decrypt your files because nobody will trust us if we cheat users." Read: Telefonica WannaCry Ransomware: One Of Spain's Largest Telecom Companies Hit By Cyberattack The most interesting aspect of the attack is the malware used, might have been originally written by the National Security Agency. It was dumped by hacking group Shadow Brokers in April. The group had discovered the tools in 2016 and had tried to sell them online. After not being able to sell, it dumped them. NSA had not commented on the leak then, but security firms had warned of an attack at the time, and it turns out their prediction turned out to be accurate. Story continues "This is quite possibly the most damaging thing I've seen in the last several years. This puts a powerful nation-state-level attack tool in the hands of anyone who wants to download it to start targeting servers. "The individual consumer is a little less at risk, as these kinds of tools are targeted at enterprise and business environments," said Matthew Hickey, founder of security firm Hacker House, at the time. The fact that cyber criminals could use NSA tools for large-scale attacks has raised eyebrows. Los Angeles Representative Ted. W. Lie, issued a statement on the attack, saying “The massive malware attack that hit multiple countries has caused chaos and has shut down vital institutions such as hospitals. It is deeply disturbing the National Security Agency likely wrote the original malware. I have been working on legislation with industry stakeholders and partners in the Senate to address this problem.. …Today’s worldwide ransomware attack shows what can happen when the NSA or CIA write malware instead of disclosing the vulnerability to the software manufacturer.…. The time is now for Congress to seriously address cybersecurity issues." Correction : An earlier version of this story incorrectly said some Bank of America's systems were impacted. A representative for the company said Bank of America’s systems are operating normally and with no interruptions. Related Articles Google To Offer Cybersecurity Protection For Elections Russia Suspected Of Hacking Several Countries || 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) || Bitcoin miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differentlyin one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into blocks, and its the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the block reward. This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at todays prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoins early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesnt include revenue from selling mining equipment, or providing cloud mining services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesnt account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners revenue, but theyve shot up this year as the number of transactions gets closer to the bitcoin networks limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the civil war that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoins civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Heres the best way to guess correctly on a multiple choice test || STOCKS REBOUND AFTER 'TRUMPCARE' VOTE PULLED: Here's what you need to know: (Google Finance)
Stocks shot up after Republican congressional leaders pulled the American Health Care Act from what looked almost certain to be a failed vote Friday.
All three major indices were tumbling lower near the end of the day, ahead of the scheduled vote. However, immediately after it was announced that the bill was pulled, stocks shot back up.
The Nasdaq finished up for the day, the S&P 500 was little changed, and the Dow was slightly in the red.
First up, the scoreboard:
• Dow:20,596.72, -59.86, (-0.29%)
• S&P 500:2,343.98,-1.98, (-0.08%)
• Nasdaq:5,828.74, +11.04, (+0.19%)
• US 10-year yield:2.418, -0.000
• WTI Crude:$48.10, +0.40, (+0.84%)
1.The GOP leadership has pulled the American Health Care Act from what looked almost certain to be a failed vote Friday.The move came as it became more clear that Republicans did not have enough votes to pass their bill to repeal and replace Obamacare.
2.The company behind the Keystone Pipeline just got a presidential permit to go ahead. The move overturns President Barack Obama'srejection of the $8 billion project. Following a wave of protests fromenvironmentalists, Obama said the project was against the long-term interests of the US.
3.Russia's central bank cut rates.The bank lowered its one-week repo rate by 25 basis points to 9.75% from 10.00%, and suggested that more cuts could be coming this year.
4.GameStop tanks after missing on sales and signaling it will close some stores this year.In its earnings release, the video-game retailer said its core category was weak, especially in the second half of last year, as the console cycle aged with a dearth of new hardware releases.
5.US oil rig count jumped for the 10th straight week, according to Baker Hughes.The US oil-rig count spiked by 21 to 652 this week — thehighest total count since the week of September 11, 2015.The gas-rig count fell by two to 155.
6.Bitcoin fell below $1,000.Aggressive selling on Friday morning had the cryptocurrency down 4.1% at $987 a coin as traders remain uneasy over its near-term outlook.
ADDITIONALLY:
Snapchat is more like Twitter than Facebook in one important area.
One of Wall Street's most steadfast bulls is worried about stocks.
Finish Line's explanation of its disappoint quarter perfectly captures the retail apocalypse.
NOW WATCH:7 mega-billionaires who made a fortune last year
More From Business Insider
• STOCKS DO NOTHING: Here's what you need to know
• STOCKS SNAP THEIR STREAK: Here's what you need to know
• STOCKS DO NOTHING: Here's what you need to know || Will We Finally See a Bitcoin ETF?: Bitcoin is back on the table. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust, the SEC is reviewing its decision once again. The proposal actually involved listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operator (read: No Bitcoin ETF Says SEC: What's Next?).
Now that Bats’ petition to the SEC to reconsider the decision, has been accepted by the authority, a new-found optimism has been noticed in the space. Apart from this fact, there was another tailwind that recently made bitcoin a hot investment. As per an article published on CNBC, “Japan legalized the cryptocurrency as a payment method recently and this has led to a greater amount of bitcoin being bought with yen.”
The Russian government is also expected to make cryptocurrencies legal financial instruments in 2018, as per the source. Minneapolis Fed President Neel Kashkari pointed to the strength of the blockchain technology supporting bitcoin lately.
Overall, the currency has been firing on all cylinders since the beginning of 2017. Most recently, the currency surpassed the mark of $1,700. Its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency).
What is Bitcoin?
Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, it becomes hard to ‘mine’ for the coins when the limit is reached. The best part of this system is that it is beyond the reach of central banks (read: Believe It or Not: Winklevoss Bitcoin ETF on the Horizon).
What Lies Ahead?
The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposal for the Bitcoin ETF multiple times.
The currency is in the limelight probably because of the fact that “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold.
WithSPDR Gold SharesGLD coming under pressure due to rising rate prospects in the U.S. and a likely higher greenback, one can possibly find refuge in seemingly safe or alternative assets like bitcoin.
The operating backdrop may be strengthening for bitcoin, but the SEC is seemingly looking for more proof of the safety in this trade. Plus, after the refusal in March, chances of a SEC approval in the near term is less likely, unless and until further changes are probably done in the proposed fund.
As of now, investors probably have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD andiShares Silver TrustSLV (read: 3 Safe-Haven ETFs to Watch on Market Correction).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-GOLD TRUST (GLD): ETF Research ReportsISHARS-SLVR TR (SLV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || First Bitcoin's COINQX Opening Offices in Shanghai, China: VANCOUVER, BC / ACCESSWIRE / March 23, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF) CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP. and history's first publicly trading bitcoin business is pleased to announce the opening of its new offices in Shanghai, China to accommodate its rapid growth and future expansion plans into Chinese and other Asian markets. BITCF has designed its trading platform (currently in beta) to cater to Chinese Bitcoin traders and will be offered in Mandarin. New offices in China will provide capacity for customer support, engineering and other important functions for the Chinese market. CoinQX platform will enforce government imposed anti-money laundering (AML) and foreign exchange regulations.
BITCF is expanding its cryptocurrency business model to focus on China where the majority of Bitcoin trading occurs. The COINQX bitcoin exchange can provide its Chinese customers access to competitive industry exchange rates and products specifically for the Chinese bitcoin traders.
"Expanding COINQX.com in China will allow us to increase our customer base in key areas that align with our current and future growth plans. We will actively attract talent to join the team. Our team is excited about the rapid growth plans we have developed for China and this move represents a commitment to continue to expand into the world's largest Bitcoin trading market. "China remains the largest market for Bitcoin tradingand is still responsible for over 91% of all Bitcoin trading volumes. Even the recent inquiries by thePBOCwill not deter Chinese traders from getting involved in Bitcoin. Nor should that be the case, as the PBOC reportedly has no direct plans to ban Bitcoin. Volumes of bitcoin trading increased as China's foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against the dollar, causing flow of money out of the country and increasing interest in bitcoin and other cryptocurrencies.
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY & $BURN -commemorative presidential election coins. Company has recently introduced $XBU -Bitcoin Unlimited Futures available for trading on CoinQX.com and OMNIDEX exchange (http://omniexplorer.info)
www.bitcannpay.comOpen Loop merchant services for dispensaries.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Massive ransomware cyber-attack hits nearly 100 countries around the world: More than 45,000 attacks recorded in countries including the UK, Russia, India and China may have originated with theft of ‘cyber weapons’ from the NSA Global cyber-attack – live updates ‘ Accidental hero’ finds kill switch to stop spread The attack hit England’s National Health Service (NHS) on Friday, locking staff out of their computers and forcing some hospitals to divert patients. Photograph: Carl Court/Getty Images A ransomware cyber-attack that may have originated from the theft of “cyber weapons” linked to the US government has hobbled hospitals in England and spread to countries across the world. Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 99 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt. In Spain, major companies including telecommunications firm Telefónica were infected. By Friday evening, the ransomware had spread to the United States and South America, though Europe and Russia remained the hardest hit, according to security researchers Malware Hunter Team. The Russian interior ministry says about 1,000 computers have been affected. Markus Jakobsson, chief scientist with security firm Agari, said that the attack was “scattershot” rather than targeted. “It’s a very broad spread,” Jakobsson said, noting that the ransom demand is “relatively small”. “This is not an attack that was meant for large institutions. It was meant for anyone who got it.” Fresh IDR based heatmap for WanaCrypt0r 2.0 ransomware (WCry/WannaCry). Also follow @MalwareTechBlog 's tracker: https://t.co/mjFwsT3JzH pic.twitter.com/SPeZfBpckm — MalwareHunterTeam (@malwrhunterteam) May 12, 2017 The malware was made available online on 14 April through a dump by a group called Shadow Brokers, which claimed last year to have stolen a cache of “cyber weapons” from the National Security Agency (NSA). At the time, there was skepticism about whether the group was exaggerating the scale of its hack. Story continues On Twitter, whistleblower Edward Snowden blamed the NSA. “If @ NSAGov had privately disclosed the flaw used to attack hospitals when they *found* it, not when they lost it, this may not have happened,” he said . “It’s very easy for someone to say that, but the reality is the US government isn’t the only one that has a stockpile of exploits they are leveraging to protect the nation,” said Jay Kaplan, CEO of Synack, who formerly worked at the NSA. “It’s this constant tug of war. Do you let intelligence agencies continue to take advantage of vulnerabilities to fight terrorists or do you give it to the vendors and fix them?” The NSA is among many government agencies around the world to collect cyber weapons and vulnerabilities in popular operating systems and software so they can use them to carry out intelligence gathering or engage in cyberwarfare. The agency did not immediately respond to a request for comment. Ransomware is a type of malware that encrypts a user’s data, then demands payment in exchange for unlocking the data. This attack used malicious software called “WanaCrypt0r 2.0” or WannaCry , that exploits a vulnerability in Windows. Microsoft released a patch (a software update that fixes the problem) for the flaw in March, but computers that have not installed the security update remain vulnerable. “This was eminently predictable in lots of ways,” said Ryan Kalember from cybersecurity firm Proofpoint. “As soon as the Shadow Brokers dump came out everyone [in the security industry] realized that a lot of people wouldn’t be able to install a patch, especially if they used an operating system like Windows XP [which many NHS computers still use], for which there is no patch.” The ransomware demands users pay $300 worth of cryptocurrency Bitcoin to retrieve their files, though it warns that the “payment will be raised” after a certain amount of time. Translations of the ransom message in 28 languages are included. The malware spreads through email. “Attacks with language support show a progressive increase of the threat level,” Jakobsson said. The attack hit England’s National Health Service (NHS) on Friday, locking staff out of their computers and forcing some hospitals to divert patients. “The attack against the NHS demonstrates that cyber-attacks can quite literally have life and death consequences,” said Mike Viscuso, chief techology officer of security firm Carbon Black. “When patients’ lives are at stake, there is no time for finger pointing but this attack serves as an additional clarion call that healthcare organizations must make cybersecurity a priority, lest they encounter a scenario where lives are risked.” Ransomware attacks are on the rise. Security company SonicWall, which studies cyberthreats, saw ransomware attacks rise 167 times in 2016 compared to 2015. “Ransomware attacks everyone, but industry verticals that rely on legacy systems are especially vulnerable,” said Dmitriy Ayrapetov, executive director at SonicWall. A Los Angeles hospital paid $17,000 in bitcoin to ransomware hackers last year, after a cyber-attack locked doctors and nurses out of their computer system for days. 36,000 detections of #WannaCry (aka #WanaCypt0r aka #WCry ) #ransomware so far. Russia, Ukraine, and Taiwan leading. This is huge. pic.twitter.com/EaZcaxPta4 — Jakub Kroustek (@JakubKroustek) May 12, 2017 Jakobsson said that the concentration of the attack in Russia suggested that the attack originated in Russia. Since the malware spreads by email, the level of penetration in Russia could be a sign that the criminals had access to a large database of Russian email addresses. However, Jakobsson warned that the origin of the attack remains unconfirmed. || A.I. is in a ‘golden age’ and solving problems that were once sci-fi, Amazon CEO Jeff Bezos says: Artificial intelligence development has seen an "amazing renaissance" and is beginning to solve problems that were once seen as science fiction, according to Amazon ( AMZN ) CEO Jeff Bezos. Machine learning, machine vision, and natural language processing are all strands of AI that are being developed by technology giants such as Amazon, Alphabet's ( GOOGL ) Google and Facebook ( FB ) for various uses. For example, Amazon's voice assistant Alexa, which is in its Echo speaker, relies on natural language processing – the ability for computers to understand human speech. These AI developments were praised by the Amazon founder. "It is a renaissance, it is a golden age," Bezos told an audience at the Internet Association's annual gala last week. "We are now solving problems with machine learning and artificial intelligence that were … in the realm of science fiction for the last several decades. And natural language understanding, machine vision problems, it really is an amazing renaissance." Bezos called AI an "enabling layer" that will "improve every business." At Amazon, Bezos said that "cool" developments like Alexa and its Prime Air delivery drones use "tremendous amounts" of AI. But machine learning is being deployed across the company. "I would say, a lot of the value that we're getting from machine learning is actually happening kind of beneath the surface. It is things like improved search results, improved product recommendations for customers, improved forecasting for inventory management, and literally hundreds of other things beneath the surface," Bezos said. The Amazon CEO also said that the company is making AI techniques available to enterprise customers through its cloud division, Amazon Web Services. Bezos is the latest tech chief executive to address the topic of AI. He did not go into some of the dangers of the technology as many of his counterparts have. For example, Jack Ma, CEO of Chinese e-commerce giant Alibaba ( BABA ) , warned that society could face decades of "pain" due to technological advancements. More From CNBC Bitcoin hits another record high and could rally to $4,000, investor says Amazon CEO Jeff Bezos has a good idea of quarterly results 3 years before they happen Stephen Hawking says humans must colonize another planet in 100 years or face extinction || Bitcoin Wallets Under Siege From 'Large Collider' Attack: A group called the Large Bitcoin Collider claims it can smash open bitcoin wallets by using a so-called brute force attack, which directs mass amounts of computer power at individual wallets in order to guess their private keys. The project, which has been underway for months, relies on a distributed network of computers (similar to bitcoin itself), and invites anyone to participate-those who do could potentially share in the proceeds of the wallets cracked open. A trophy list on the home page of Collider (an apparent reference to the Hadron Collider ) suggests the group has successfully opened over a dozen wallets, though only three had any bitcoin in them. Its unclear if the group is motivated by financial gain or the cryptographic challenge of smashing wallets-the answer is probably both based on the sites webpage and outside observers. A Q&A list on the Colliders website says robbing even a tiny amount from non-profit group like the Internet archive would make you an unconditional jerk. But it also suggests other wallets are fair game, and that proceeds would be divvied up among the Collider participants. Meanwhile, others think the wallet-smashing endeavor is a fools errand, according to Motherboard , which first reported on the Large Bitcoin Collider. In this view, the project is too hard and the rewards too low and infrequent (as this Reddit commenter explains ) to pay off. But some speculate the goal of the project is not to rob a whole lot of wallets, but instead to strike a mother lode from a long-lost wallet from bitcoins early days: About 10% of Bitcoins were created early, before 2012, and have never been traded. If somebody ever finds the key of the early lost Bitcoins, theyll have a huge payoff, over a billion dollars. Speculation is that either Satoshi Nakamoto, whoever he is, is holding onto them for a big payoff, or somebody lost the private key for all those early Bitcoins. As the years go on, the second explanation seems more likely, said the top comment on the site Hacker News . Story continues Get Data Sheet , Fortune s technology newsletter. As for the process of cracking open wallets, it involves the laborious task of creating private keys-which are dozens of characters in length-and trying them against existing bitcoin addresses. The Collider has so far created and checked 3,000 trillion private keys, a researcher told Motherboard. As for the legality of all this, its unclear. On one hand, the law is pretty clear that you are not supposed to join a conspiracy in order to rob people. But on the other hand, as the groups website points out, It is not illegal to search for colliding private keys. For bitcoin owners, the risk of the Large Bitcoin Collider performing a stick-up on your private wallet is pretty tiny for now. But if the process also results in someone creating a collision for bitcoins general hashing algorithm-as happened with the longtime crypographic standard SHA-1 (cracked by Google this year)-that would spell a lot more trouble, though as one reader points out , bitcoins encryption algorithm can be upgraded. This article was originally published on FORTUNE.com || How to Protect Yourself as Ransomware Attack Spreads Around the Globe: Consumer Reports has no relationship with any advertisers on this website. Hospitals and other healthcare providers across England were forced to cancel countless appointments and divert ambulances on Friday after a massive ransomware attack crippled their computer systems. In the hours that followed, the crisis spread to facilities in at dozens of other countries, according to news reports. FedEx was one of the big corporations affected by the attack, saying that "like many other companies, FedEx is experiencing interference with some of our Windows-based systems caused by malware. We are implementing remediation steps as quickly as possible. We regret any inconvenience to our customers.” Although this latest attack was massive in scope, ransomware threats often strike the personal computers of individual consumers, too. Here’s what you need to know and how to protect yourself. What Is Ransomware? Ransomware is a form of malware designed to steal money from individuals, businesses and other organizations by holding their data hostage. Imagine coming home to find a big padlock on your front door and a criminal standing next to it, demanding money to let you in. That's ransomware. Only instead of being locked out of your house, you're locked out of all your personal files. The next time you log on, your computer displays a ransom note saying your data has been encrypted, with instructions on how to pay to unlock it. Can Hackers Really Make Money Doing This? Oh, yes. Ransomware is big business. Ransoms can range from a few hundred to thousands of dollars and are usually paid in the "virtual" currency Bitcoin, which is nearly impossible to trace. In some cases, the longer you wait to pay, the higher the ransom becomes. According to cybersecurity firm Symantec's Internet Security Threat Report released in April, the number of new versions of ransomware uncovered during 2016 more than tripled to 101, while the number of ransomware infections the company spotted jumped 36 percent. Verizon's recently released 2017 Data Breach Investigations Report notes that ransomware accounted for 72 percent of the malware incidents involving the heathcare industry last year. Story continues Why Is This Particular Ransomware Attack Significant? Friday's attack affected at least 25 of the UK's National Health Service's hospitals and other organizations. But NHS says it was not the specific target of the attack. It does not appear that patient information was accessed, according to the organization, but its investigation into the matter is still in the early stages. Barts Health, which manages a handful of major hospitals in London and elsewhere, also confirmed it was experiencing a "major IT disruption." The malware arrived in encrypted files distributed by email. Once a computer was infected, the user received a note demanding $300 in bitcoin to restore access to patient information and other data on the device. British Prime Minister Theresa May called it an "international attack" affecting a "number of countries and organizations." CNN put the figure at 74 countries . Has This Ever Happened in the U.S.? Yes. One of the best known examples involved L.A.'s Hollywood Presbyterian Medical Center, which in February 2016 said it paid a ransom of $17,000 to get its computer systems unlocked. Because of the large amount of personal information collected about patients, hospitals and other healthcare providers are prime ransonware targets. If a doctor can't access information about a patient's medications and pre-exisiting conditions, it's virtually impossible to provide treatment, forcing the doctor and patient to reschedule appointments. And that can result in millions of dollars in lost productivity. So, even though medical computer systems are routinely backed up, and nearly all that data can be recovered and restored, hospitals often pay the ransom in an effort to speed things up and minimize financial losses. How Does Your Device Get Infected? Whether they involve a computer nework run by a business or hospital, or just an average person's personal PC, most ransomware infections happen when a user is lured by a bogus “phishing” email to a site that infects his or her computer, or by clicking on an attached file that secretly installs it. How can you avoid having your data taken hostage? You avoid ransomware the same way you avoid any malware infection: By being careful. While that's not always easy, there are things you can do to steer clear of problems. Don’t casually click a link inside an email; instead, type the web address directly into your browser. Never open an attachment unless you were expecting to receive it and you're certain of what it is. Don't spend time in the disreputable corners of the internet that specialize in risqué content or pirated movies; you can get infected simply by visiting a dodgy site. Never install software just because a web site tells you to do it. And always keep a backup copy of all your personal files on a separate drive or with a "cloud"-based backup service. That way, if the worst happens, you'll always have access to your most important data. More from Consumer Reports: Top pick tires for 2016 Best used cars for $25,000 and less 7 best mattresses for couples Copyright © 2006-2017 Consumer Reports, Inc.
[Random Sample of Social Media Buzz (last 60 days)]
Current price of $BTC is $1183.00 via Chain #bitcoin #btc || 2017/04/07-00:00
ZaifExchange
BTC:130845JPY(±0)
XEM:1.88JPY(+0.062)
MONA:6.2JPY(-0.2)
#monacoin
#bitcoin
#nem || #bitcoin #miner Sp10 Bitcoin Miners 1.5 T/h! Best Mining Bitcoin Miner Deal! $330.00 http://ift.tt/2pOqcST pic.twitter.com/siCrJ4GwgZ || 1 BTC Price: BTC-e 972.878 USD Bitstamp 949.00 USD Coinbase 961.47 USD #btc #bitcoin 2017-03-26 18:30 pic.twitter.com/TYjzdrbfIs || #Monacoin 21.2円→[Zaif] 12.40円↑[もなとれ]
#NEM #XEM 3.02円↑[Zaif]
#Bitcoin 133,030円↑[Zaif]
04/19 05:00
口座開設はこちらで！ https://goo.gl/31dyoO || ETH Price:
1 ETH = $49.32 USD
-0.28% ⇩ last 24h.
1 ETH = 0.039770 BTC
-2.01% ⇩ last 24h. || One Bitcoin now worth $1179.86@bitstamp. High $1192.50. Low $1161.00. Market Cap $19.205 Billion #bitcoin || #BITCOIN ahora:
$1,741.28 USD
€1,599.26 EUR
$33,321.87 MXN
@Bitso $35,800.00 MXN
@Volabit $34,801.00 MXN pic.twitter.com/G0ShEDnIs6 || This btc talking about only time her phone ring is when mfs need something girl u jus now finding out especially dealing with them || Nice to see Bitcoin making the Front Page of Reddit via /r/Bitcoin http://ift.tt/2oFDNsU
|
Trend: up || Prices: 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-12-16]
BTC Price: 6932.48, BTC RSI: 31.66
Gold Price: 1475.00, Gold RSI: 52.53
Oil Price: 60.21, Oil RSI: 62.76
[Random Sample of News (last 60 days)]
Latest Bitcoin price and analysis (BTC to USD): Bitcoin (BTC) is currently trading at just above $8,440 following a 3% drop in price since last Monday . Additionally, BTC has also managed to drop below its 200-day EMA – not a great sign for the bulls. Bitcoin has been consolidating since last month after price spiked from $7,500 to over $10,000, before retracing to the $9,000 range. Will BTC recover back to $10,000 and above soon? Let’s take a look at Bitcoin’s chart. At the time of writing, Bitcoin has been making a number of lower highs. Since the massive bull market that took Bitcoin close to $14,000 earlier in the year, the coin has been dropping in value following a downtrend that was only broken in late October when price broke through a number of key resistance levels (around the 200-day, 50-day, and 20-day EMAs). Following the late-October pump, where the price of BTC rose over 40% in the space of 24 hours, it seems the market has now stabilised . Last week , I said I expected BTC to find a bottom near its 200-day EMA and that Bitcoin would bounce to around $10,000 soon. It has instead broken below its 200-day EMA, but crucially BTC has managed to stabilise since then and minimise any losses. The current Bitcoin trend History shows us that BTC is prone to huge drops between 30% and 40% during bull seasons. Therefore, I don’t advise that you fight the trend, but surf it for as long as possible. Last week, I underlined that within the next three to five weeks, we could see a major reversal after a period of serious accumulation by ‘hodlers’. However, for the time being, not only has Bitcoin reversed its downwards trend, I argue BTC will reach $12,000 by the end of 2019 if we continue to see strong gains. Volume, which had dropped from a peak of $27 billion earlier in the year to just over $15 billion last month, is now back to the $20 billion range. At the time of writing, it is about $21 billion. The volume profile also shows that BTC is near a key support level close to $8,100. Story continues Bitcoin’s market dominance has also slightly increased about 1% since early November, from 65% to 66%. Will the trend remain bullish? As veteran traders and investors usually say, smart money “buys when there’s blood on the streets”. Currently, I’m waiting for another minor drop in price to make new entries. These drops won’t last forever, and if you think traditional markets are currently on a massive bull run, I wouldn’t be so sure the trend won’t reverse. How can the markets continue to push higher throughout the year after the ECB’s recent rate cuts, the continuous share buybacks from huge corporations, or the inverted bond yield shoving investors away towards riskier assets? In addition, repo market activity – as in loans from central banks to commercial and investment banks – has spiked to new monthly records. That adds up to another signal of weakness among most banks. Safe trades! Current live Bitcoin pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On 3rd January 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More Bitcoin news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. The post Latest Bitcoin price and analysis (BTC to USD) appeared first on Coin Rivet . || eToroX adds five new fiat stablecoins: Cryptocurrency trading platform eToroX has announced it will be adding support for five new fiat stablecoin pairs as well as Coinbases USDC and Tethers USDT. eToroX already provides stablecoins for many popular global fiat currencies such as the euro (EURX), GBP (GBPX), and the US dollar (USDEX). According to a press release shared with Coin Rivet, the five new stablecoins include the Turkish lira (TRYX), South African rand (ZARX), Signaporean dollar (SGDX), Polish zloty (PLNX), and Hong Kong dollar (HKDX). These currencies bring eToroXs total support to 17 stablecoins and 96 trading pairs. The multitude of fiat pairings available on eToroX allows traders to easily close their positions in the volatile cryptocurrency markets and keep their portfolios relatively stable using a fiat currency peg. eToroX was established in 2018 and offers a similar trading experience to eToros traditional platform, but solely for digital assets. eToro has consistently shown its commitment to digital assets this year, through both strategic acquisitions of blockchain companies and the growth of its eToroX platform . The platform focuses on tokenised assets, providing a dedicated crypto wallet and a forthcoming custodial exchange. At present, users can trade Bitcoin, Ripple, Ethereum, and more against a range of fiat currencies on eToroX. Gold-backed stablecoin The platform also now lets users trade the GOLDX/BTC pairing. GoldX is a gold-backed stablecoin which leverages the perceived safety of gold markets to offer traders a safe haven for portfolio value management. Managing director of eToroX Doron Rosenblum commented: Our Gold/Bitcoin pair provides a means to trade between the old and the new stores of value, making Gold/BTC an extremely special and interesting combination. Coin Rivet reported last week that eToroX had acquired crypto portfolio tracker Delta in a bid to expand its reach in the cryptocurrency markets. Roseblum hinted that the platform would be looking to let users trade digital assets directly from their Delta apps in the coming months. Story continues eToro also acquired blockchain start-up Firmo earlier this year, which tokenises assets and deploys smart contracts across any blockchain. Founder and CEO of eToro Yoni Assia said that the takeover would move eToro closer to tokenising every asset on the platform. The post eToroX adds five new fiat stablecoins appeared first on Coin Rivet . || Binance Adds New Fiat Payment Options Through Integration With P2P Exchange Paxful: Binance has teamed up with peer-to-peer bitcoin exchange Paxful to add new ways to purchase bitcoin.
Announced Thursday, Paxful’s Virtual Bitcoin Kiosk will exclusively serve Binance as an additional fiat-to-crypto on-ramp for its users, joining services such as Koinal and Simplex.
Through the kiosk, Paxful can facilitate fiat payments in over 167 currencies. To start with, Binance users will have access to the Russian ruble, Vietnamese dong, Indonesian rupiah, Nigerian naira, Colombian peso, British pound, Mexican peso, Canadian dollar, euro and Argentine peso, with more possibly to come later.
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Paxful users will also have direct access to Binance, further opening up digital asset trading – and therefore price arbitrage – to Paxful’s P2P network. While Paxful had offers from some of the top-10 crypto exchanges, the P2P exchange is exclusively providing its kiosk service to Binance, Paxful CEO and founder Ray Yousseff said in a telephone interview.
Founded in 2015, Paxful connects traders in a peer-to-peer fashion through its API service and has recently been conducting some $25 million in trades per week, according toUsefulTulips.
Binance alsoallowsP2P trading on its platform for Chinese users and through WeChat and AliPay, although the latter company monitors the platform for trading, which is illegal under the companies terms and services.
Fiat-to-crypto purchases for both the dollar and euro through the Gemini Dollar (GUSD) and Paxos Standard (PAX) are supported too. The exchange has slowly added stablecoins to its platform under its “Venus” initiative and currently supports the euro, ruble, Turkish lira, Nigerian naira, Ukrainian hryvnia, Kazakhstani tenge and Indian rupee as fiat options, according toBinance.
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The firms’ integration highlights a mutual interest in philanthropy, according to Yousseff. Noting bitcoin’s use cases in Africa, he said the exchange was rebuilt after discussions with locals across the continent. Binance maintains a philanthropic venture arm, Binance Charity Foundation (BCF), which has worked inUganda.
While the U.S. takes up the lion’s share of Paxful’s market, researcher Matt Ahlborg at startup acceleratordlabsaid the exchange is becoming a meaningful alternative in sub-Saharan Africa as ex-pats look to send funds back home.
In the continent’s largest economy, Nigerians are exchanging gift cards sent by relatives in the U.S. for bitcoin and exchanging that for the national currency on Paxful. The process, which can be completed in half an hour, appears to be an effort to avoid more traditional remittance services, Ahlborgsaidin a blog post.
Paxful has shown resilience even when other exchanges have struggled, in what Ahlborg attributes to its integration on a local level.
“Paxful is able to onboard financially disconnected citizens of developing countries on a level that non-P2P OTC exchanges like Coinbase simply cannot,” Ahlborg said. “Gift card remittance works 24/7 whereas Western Union only works during business hours of Nigerian Banks.”
Comparisons between rival P2P exchange LocalBitcoins and Paxful (see charts below) show more continuous growth for the latter platform through the 2018 bear market, even if total volumes remain far lower.
“The lack of bitcoin liquidity was the first obstacle to solve to introduce bitcoin to Africa,” said Youseff in an email to CoinDesk. “We found a way for them to export an asset, which is gift cards, as a way to go around financial restrictions. Now, bitcoin is flooding out of Nigeria and into other African countries.”
• The Safello Story: Smaller Crypto Exchanges Must Partner to Survive
• Crypto Exchange OKEx Launching Options Trading Later This Month || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/12/19: Bitcoin Cash ABC rose by 2.49% on Thursday. Reversing a 1.40% fall from Wednesday, Bitcoin Cash ABC ended the day at $212.21.
A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $205.57 before finding support.
Steering clear of the first major support level at $201.19, Bitcoin Cash ABC rallied to a mid-afternoon intraday high $213.80.
In spite of the bounce, Bitcoin Cash ABC came up short of the first major resistance level at $215.86, leading to a slide back to sub-$210 levels.
Late support from the broader market led to a return to $212 levels, however, and a solid gain for the day.
At the time of writing, Bitcoin Cash ABC was up by 0.64% to $213.56. A mixed start to the day saw Bitcoin Cash ABC fall to an early low $210.99 before striking a high $213.56.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, a move through to $214 would support a run at the first major resistance level at $215.48.
Bitcoin Cash ABC would need support from the broader market, however, to break out from Thursday’s high $213.8.
Barring a broad-based crypto rally on the day, Bitcoin Cash ABC would likely come up short of the second major resistance level at $218.76.
Failure to move through to $214 levels could see Bitcoin Cash ABC hit reverse. A fall back through the morning low to sub-$210.50 levels would bring the first major support level at $207.25 into play.
Barring a crypto meltdown, however, Bitcoin Cash ABC should steer clear of the second major support level at $202.30.
Litecoin rose by 0.31% on Thursday. Reversing a 0.36% fall from Wednesday, Litecoin ended the day at $44.84.
Tracking the broader market, Litecoin slid to an early morning intraday low $43.72 before making a move.
Steering clear of the first major support level at $43.21, Litecoin struck a mid-day intraday high $45.22.
Falling short of the first major resistance level at $46.67, Litecoin slid back to an afternoon low $44.02 and into the red.
Litecoin found late support from the broader market, however, to close out the day in the green.
At the time of writing, Litecoin was up by 0.11% to $44.89. A mixed start to the day saw Litecoin fall to an early morning low $44.51 before rising to a high $44.97.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high would support a run at the first major resistance level at $45.47.
Litecoin would need the support of the broader market, however, to break out from Thursday’s high $45.22.
Barring a broad-based crypto rally, Litecoin would likely fall short of $46 levels for a 2ndconsecutive day.
Failure to move back through the morning high could see Litecoin come under pressure. A fall back through to sub-$44.60 levels would bring the first major support level at $43.97 into play.
Barring a crypto meltdown, Litecoin should continue to steer clear of sub-$42 levels. The second major support level at $43.09 should limit any downside.
Ripple’s XRP rallied by 3.53% on Thursday. Reversing a 2.52% slide from Wednesday, Ripple’s XRP ended the day at $0.22289.
A choppy start to the day saw fall to an early morning intraday low $0.21278 before finding support.
Steering well clear of the first major support level at $0.2084, Ripple’s XRP rallied to a late intraday high $0.22722.
Ripple’s XRP broke through the first major resistance level at $0.2247 before easing back to sub-$0.2240 levels.
At the time of writing, Ripple’s XRP was up by 0.78% to $0.22462. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.22251 to a high $0.22519.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move through to $0.2260 levels would support a run at the first major resistance level at $0.2291.
Support from the broader market would be needed, however, for a breakout from Thursday’s high $0.22722.
Barring an extended rally on the day, the first major resistance level would likely leave Ripple’s XRP short of $0.23 levels.
Failure to move through to $0.2260 levels could see Ripple’s XRP hit reverse.
A fall through the morning low $0.22251 would bring the first major support level at $0.2147 into play before any recovery.
Barring a crypto meltdown, however, Ripple’s XRP should continue to steer clear of sub-$0.21 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Gold Price Prediction – Gold Consolidates Despite Falling US Dollar || Bitcoin Charts First Weekly Golden Cross in 3.5 Years: • Bitcoin’s weekly chart is reporting a bullish golden cross of the 50- and 100-period moving averages. The widely followed, but lagging, indicator may fail to attract buyers as broader market conditions are currently bearish.
• A UTC close above $7,870 is needed to confirm a short-term bullish reversal, according to the daily chart.
• The cryptocurrency risks falling to key support at $7,087, having faced rejection at bearish weekly average resistance during the Asian trading hours.
Bitcoin’s longer duration chart is flashing a specific bull market signal for the first time in over three years.
On the weekly chart, the cryptocurrency’s 50-period moving average (MA) has crossed above the 100-period moving average, confirming what is popularly known as a “golden crossover.” The same cross was last observed in May 2016, according to Bitstamp data.
A golden cross occurs when a short-term movingaverage breaks above a long-term moving average on a specific time frame(daily, weekly, monthly) and is considered an advanced warning of an impendingbull run.
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MA crossovers are lagging indicators and merely confirm the prevailing trend, however. As such, they have limited predictive powers,as discussedlast week.
That said, crossovers are widely followedindicators and attract a significant amount of buying if the broader marketconditions are supportive, as seen below.
As can be seen (above left), bitcoin rallied more than 150 percent from $198 to $502 in the 11 weeks to Nov. 8, 2015, and then consolidated largely in the range of $360 to $470 before beginning the next leg higher with the confirmation of the crossover in May 2016.
The cross likely attracted buyers, as the preceding structure was positive – higher low and consolidation.
Related:The Safello Story: Smaller Crypto Exchanges Must Partner to Survive
Further, the bull cross happened three months ahead of the reward halving (supply cut by miners), which took place in August 2016. By June 20, bitcoin had rallied by more than 120 percent to highs above $775.
The latest bull cross (above right) comes five months ahead of the next reward halving, due in May 2020. However, many experts, includingJason A. Williams, co-founder and partner of Morgan Creek Digital, believe the halving has been discussed extensively throughout the year and has been priced in.
Also, the preceding market structure is bearish: the cryptocurrency is trapped in a four-month falling channel and the bull cross is mainlythe resultof the sharp rally from $4,000 to $13,880 seen from April to June.
All in all, adopting a strong bullish stance onthe back of the golden crossover could prove costly.
The case for a stronger upside move would strengthen once prices find acceptance above $7,870 (Nov. 29 high). At press time, BTC is changing hands at $7,470 on Bitstamp.
Bitcoin violated the falling trendline resistance on Dec. 4. So far, however, that has failed to invite buyers in numbers.A UTC close above the Nov. 29 high of $7,870 is needed to invalidate the lower-highs set up and confirm a bullish reversal. That will likely yield a quick move higher to $8,500–$8,672 (61.8 percent retracement of the drop from $10,350 to $6,511).
On the downside, key support is located at $7,087. A violation there would validate the bearish inverted hammer created on Dec. 4 and would likely yield a drop to recent lows near $6,500.
Having faced rejection at the descending (bearish) 5-week MA at $7,561 during the Asian trading hours today, the cryptocurrency risks falling to support at $7,087.
The outlook as per the weekly chart would turn bullish if and when the four-month falling channel is breached to the higher side. That would imply a continuation of the rally from lows near $4,000 that started in early April.
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• DISCUSSION: How Can Public Blockchains Have Privacy? || Ethereum and Stellar’s Lumen Daily Tech Analysis – 04/11/19: Ethereum fell by 0.83% on Sunday. Following a 0.01% loss on Saturday, Ethereum ended the week down 1.41% at $181.73.
A bullish start to the day saw Ethereum rally to an early morning intraday high $185.00 before hitting reverse.
Falling short of the first major resistance level at $185.66, Ethereum slid to a late afternoon intraday low $179.11.
Ethereum fell below the first major support level at $181.38 and the second major support level at $179.50.
Finding support late in the day, Ethereum recovered to $182 levels before a final hour pullback to $181 levels.
In spite of the pullback, Ethereum avoided another fall through the major support levels.
The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.
At the time of writing, Ethereum was down by 0.18% to $181.41. A relatively bearish start to the day saw Ethereum fall from an early morning high $181.95 to a low $180.75.
Ethereum left the major support and resistance levels untested early on.
Ethereum would need to move through to $182 levels to support a run at the first major resistance level at $184.78.
Support from the broader market would be needed, however, for Ethereum to break out from the morning high $181.95.
Barring a broad-based crypto rebound, Sunday’s high $185.0 and first major resistance level would likely limit any upside.
Failure to move through to $182 levels could see Ethereum slide deeper into the red.
A fall back to sub-$181 levels would bring the first major support level at $178.89 into play before any recovery.
Barring an extended sell-off through the day, Ethereum should steer clear of sub-$178 levels.
Major Support Level: $178.89
Major Resistance Level: $184.78
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Stellar’s Lumen slid by 4.77% on Sunday. Reversing a 1.19% rise from Saturday, Stellar’s Lumen ended the week up 4.66% at $0.068373.
A relatively bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.072499.
Stellar’s Lumen broke through the first major resistance level at $0.0719 before hitting reverse.
Falling short of the second major resistance level at $0.0728, Stellar’s Lumen slid to a late morning intraday low $0.068313.
Stellar’s Lumen fell through the first major support level at $0.0697 and the second major support level at $0.0685.
Through the 2ndhalf of the day, Stellar’s Lumen recovered to $0.06940 levels before sliding back to $0.06830 levels.
The extended bearish trend remained firmly intact, reaffirmed by 24thSeptember’s new swing lo $0.051614. Stellar’s Lumen continued to fall short of the 23.6% FIB of $0.1310 following a pullback from $0.13 levels in late June.
At the time of writing, Stellar’s Lumen was up 0.19% at $0.068505. A mixed start to the day saw Stellar’s Lumen rise to an early morning high $0.069083 before falling to a low $0.068377.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to move through to $0.06970 to support a run at the first major resistance level at $0.07110.
Support from the broader market would be needed, however, for Stellar’s Lumen to break out from the morning high $0.069083.
Barring a broad-based crypto rebound through the day, the first major resistance level would likely cap any upside.
In the event of a crypto rebound, Stellar’s Lumen would likely revisit Sunday’s high $0.072499 before any pullback.
Failure to move through to $0.06970 levels could see Stellar’s Lumen hit reverse.
A fall through the morning low to sub-$0.068 levels would bring the first major support level at $0.0670 into play.
Barring a crypto meltdown, however, Stellar’s Lumen should steer clear of sub-$0.0670 levels on the day.
Major Support Level: $0.0670
Major Resistance Level: $0.0711
23.6% FIB Retracement Level: $0.1114
38% FIB Retracement Level: $0.1484
62% FIB Retracement Level: $0.2082
Please let us know what you think in the comments below.
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/11/19 || WATCH: Thiel Capital’s Eric Weinstein Talks About the Nature of Money: Eric Weinstein of Thiel Capital, which invested in EOS issuer Block.One among other crypto startups, hopes the bitcoin ecosystem will eventually find a way to operate without a public blockchain. He sat down with CoinDesk reporter Leigh Cuen to talk about Austrian economics and the nature of money.
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• Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400 || Binance CEO: Russia Is Our Key Market: MOSCOW The line for selfies with Binance CEO Changpeng Zhao seemed endless, even though it was the second photo op of the night. The cryptocurrency exchange mogul, known as CZ, had already taken photos with Russian fans before the meetup started, and he kept smiling at cameras and shaking hands for half an hour after it ended. It was CZs first visit to Russia, and the turnout showed his popularity with the local crypto scene. The concert hall of the Radisson hotel in central Moscow could hardly fit the roughly 700 people registered for the Oct. 21 event. Related: Bakkt to Launch Crypto Consumer App in First Half of 2020 The warm feelings were mutual. We are always looking for partners in any community, especially in Russia, CZ told CoinDesk before his talk. Russia is our key market, one of the most active markets in the global blockchain space. When asked on stage who will have the most influence on crypto in the near future, he mentioned Russias president Vladimir Putin, drawing laughs from the audience. It was a winking reference to the indecisiveness of Russian regulators. In America, the regulators are very distributed, and China is not going to move any time soon, CZ told the crowd. There is a potential bill in Russia that may pass very soon, and it will be a good thing for the industry. (The bill in question is currently dormant in the Russian Parliament.) Russian expansion Related: Final Russian Nuclear Scientist Sentenced Over Illicit Crypto Mining Over the past year, Malta-based Binance, among the worlds largest crypto exchanges, has been expanding aggressively around the world. Its opened fiat-to-crypto exchanges in four jurisdictions: Uganda , Jersey , Singapore , and the U.S. last month. The exchange also launched a fiat on-ramp for the Nigerian currency niara (NGN) and most recently announced that Russian ruble deposits are coming. But thats just the start of Binances plans for Russia, where CZ told CoinDesk he wants to open an office. Story continues There is a very strong programmer talent [here], he said. On this trip, it is very clear to me that we should look into the developers office, not the commercial office, not just yet. Further, Binance is looking to bring its stablecoin project, Venus, to Russia. We are also working with other potential stablecoin issuers pegged to fiat currencies, CZ said. In every location were doing that, in Russia specifically, were looking for those partners as well. The Russian government announced it was working on a national cryptocurrency, the so-called crypto ruble , in January 2018, but since that time, there have been no updates on the project. CZ meets the public. (Photo by Anna Baydakova for CoinDesk) Fiat on-ramp Dealing with fiat is a tricky part of doing crypto business in Russia, as cryptocurrencies have no legal status in the country yet, and crypto-related companies usually register as providing IT services and the like. Only a handful of smaller exchanges like EXMO, Yobit, Livecoin and Kuna offer ruble deposits via partnerships with acquiring services that facilitate electronic payments and take care of the fiat bank accounts. Without naming names, CZ said Binance is in talks with banks and acquiring services in Russia to provide a fiat gateway for the ruble. Were basically doing what other exchanges are doing here, in Russia, CZ said. We are discussing with banks, but its not official yet. The banks are at a very early stage. Payment services will probably come up first. In fact, the ruble deposits were expected to be up and running already, CZ said, but technical issues delayed the launch by a couple of weeks Binance is tentatively planning it for early November now. Other initiatives Meanwhile, CZ said hes happy with the performance of its new business partner, Binance U.S., which opened in September. Currently, the platform sees about $14 million in daily trading volume, according to the market data websites CoinMarketCap, CoinGecko and Cryptocompare. The Nevada-licensed trust company Prime Trust provides the fiat on-ramp and banking relationship for Binance U.S., CZ said. (Prime Trust isnt FDIC-insured, but it has accounts with institutions that are.) He is hoping that institutional investors will ultimately do the majority of trading on the U.S. platform. However, institutions are highly interested in trading derivatives, and this option is currently unavailable for U.S. traders: a warning about it pops up in front of any new user trying to sign up for Binance Futures. The futures platform, nevertheless, has been gathering speed during its first months of existence, even surpassing Binances bitcoin spot market on some days. To fire up things even more, the exchange added an unprecedented 125x leverage for futures contracts earlier this month. This leverage, higher than whats available from other bitcoin futures venues, raised some eyebrows and sarcastic tweets which suggested that 125x is a perfect chance for traders to get rekt. CZ says the unprecedented high leverage is something the Binance users have been asking for, and would differentiate the exchange from competitors. Its a little bit of marketing, a PR game as well, but you also want to be a little bit innovative, he said, adding: We copy a lot of stuff from a lot of people, but we also want to be a little bit different. CZ image courtesy of Binance Related Stories Eyeing African Market, Binance Adds Nigerian Fiat-to-Crypto Gateway Bakkt to Launch Options on Its Bitcoin Futures Dec. 9 || AUD/USD Forex Technical Analysis Testing Major Retracement Zone; Ripe for Closing Price Reversal Top: The Australian Dollar is trading higher early Tuesday, but backing off its high as traders probe a key retracement area that should determine whether the rally continues or begins to fizzle out on profit-taking. Furthermore, if optimism over a partial trade deal between the U.S. and China being signed as early as next month was behind the rally, then a dampening of that hope could help reverse prices to the downside. At 03:12 GMT, the AUD/USD is trading .7871, up 0.0004 or +0.06%. The Aussie has been boosted since last Friday after President Donald Trump said he would like to sign phase one of the newly proposed partial trade deal when he meets his Chinese counterpart at Novembers APEC summit. However, on Monday, the U.S. commerce secretary said an initial trade deal does not need to be finalized next month. This may create enough doubt to encourage profit-taking. Daily AUD/USD Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. A trade through the September 12 main top at .6895 will reaffirm the uptrend. The main trend will change to down on a trade through .6724. This is highly unlikely, however, nonetheless, the prolonged rally in terms of price and time since the .6671 main bottom on October 1, has put the AUD/USD inside the window of time for a potentially bearish closing price reversal top. The main range is .7082 to .6671. Its retracement zone at .6877 to .6925 is currently being tested. This zone is also potential resistance. Its also controlling the longer-term direction of the AUD/USD. The minor range is .6724 to .6883. Its 50% level or pivot at .6803 is the first potential downside target. The short-term range is .6671 to .6883. If the first support fails then look for the selling to possibly extend into the next support zone at .6777 to .6752. Daily Swing Chart Technical Forecast Based on the early price action and the current price at .7871, the direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to the major 50% level at .6877. Bullish Scenario A sustained move over .6877 will indicate the presence of buyers. The first upside target is todays intraday high at .6883, followed by the main top at .6895. This is a potential trigger point for a surge into the Fibonacci level at .6925. Bearish Scenario A sustained move under .6876 will signal the presence of sellers. If this creates enough downside momentum then the AUD/USD will turn lower for the session. This will put it in a position to form a closing price reversal top, while setting up the Forex pair for an eventual break into the minor 50% level at .6803. Story continues Side Notes A close under .6868 will form a closing price reversal top. If confirmed, this could trigger the start of a 2 to 3 day correction with .6803 the primary downside target. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction Prices Slip as Yields Rise Buoying the Greenback Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 22/10/19 Natural Gas Price Prediction Prices Tumble as Hedge Funds Add to Short Positions USD/JPY Fundamental Daily Forecast Flat as Investors Begin to Price in Fed, BOJ Rate Cuts Indexes Struggle And Tran Suggests A Possible Top Natural Gas Price Fundamental Daily Forecast Warmer Shift in Weather Reduces Speculative Demand View comments || Oil Markets In Action: Gaining Traction On Slippery Slopes: Brent crude oil is currently trading around $63.39 per barrel, above the 50-day moving average of $61.16 per barrel, and marginally lower than the 200-day moving average of $64.39 per barrel. These figures, time sensitive though they may be, are reflective of volatility in the oil markets. At any given time, price spikes and sharp declines can occur, throwing a proverbial wrench in the works for oil traders. WTI crude oil is currently trading around $57.77 per barrel, above 50-day moving average of $55.80, and 200-day moving average of $57.44 per barrel. Clearly, WTI crude oil is in the ascendancy, rallying since October 2019, following a major slump from September highs. Source: StockCharts Brent Crude Oil and WTI Crude Oil Prices As one of the most popular commodities to trade, oil markets provide substantial volatility for traders seeking profitable opportunities. Oil futures are contracts where a predetermined amount of oil at a preset price, on a fixed date is traded. Futures markets are used as a stabilization technique to guard against whipsaw activity in oil prices. Another possibility for oil traders is known as an oil option. This confers the right, but not the obligation to trade oil before the set date, at a set price, for a set amount. The raison d'être for oil futures and oil options is simply to better manage trading activity, smooth out volatility, and guarantee pricing regardless of what the market is trading at. Speculative Sentiment Driving Oil Markets For the most part, speculators and institutional traders are the ones driving the largest oil transactions. However, it is possible to trade oil on an individual basis via CFDs (contracts for difference). For example, oil is being traded for $57.93 per barrel , with lots of bullish momentum behind the current trend. There are many factors which determine the way oil prices are going to move, notable among them the decisions of OPEC member countries. Rumors have been circulating that the Organization of Petroleum Exporting Countries (OPEC) will extend their production cuts through mid-2020. While slight, the gains in Brent crude oil prices are enough to draw attention from oil traders who are rushing to cash in on the latest uptick. With improving relations expected between the US and China, sentiment for black gold is also increasing. That Russia disapproves of US oil fracking is largely irrelevant, given that markets understand Russia feels threatened by the abundance of oil on the US continent. For now, it is clear that WTI oil markets are stabilizing beneath the $60 resistance level, while Brent crude oil expectations have also been tempered down as the 200-day expected moving average nears its end. Analysts are looking towards a $65 resistance level, although it seems a way off yet. Many traders are interested in buying on the dip a.k.a. when oil markets retreat and prices drop, fresh money is pumped into these commodities via oil options and futures. CFDs as derivative trading instruments mirror the price performance of these commodities with contracts. Story continues For the year-to-date, WTI crude oil is up 27.22% at its current level. It started the year on $45.41 per barrel, and reached its peak on April 24, 2019 when it topped out at $66.30. Brent crude oil by contrast is up just 17.83% for the year-to-date. It started the year at $53.80 per barrel, reached a peak of $74.57 on April 24, 2019, and has retreated for much of 2019. Recent gains began only in October, with a sustained period of consolidation taking place. Factors That Will Impact Oil Markets Source: Statista Daily Demand for Crude Oil As the world's most important commodity at this time, crude oil is responsible for the rapid and unprecedented growth of industrial economies across Latin American countries, China and India. As the premier source of energy, petroleum markets are nonrenewable resources and subject to extreme price volatility based on cross currency rates, supply/demand, technological innovation, and geopolitical considerations. Crude oil is imperative in the production of plastics, medicines, and cosmetics. Given its limited supply, oil prices can be expected to continue rising over time until alternative energy sources replace it. According to leading statistics portal Statista, the 2019 daily demand for crude oil is 100.3 million barrels, and will rise to 101.6 million barrels in 2020. Barely 10 years ago, in 2009, the demand for crude oil was 84.3 million barrels per day. With unprecedented demand, there is increasing urgency on oil producing nations to meet this quota, failing which the disparity in prices will rise to the detriment of consumers and the satisfaction of bullish oil traders and investors. Image by James Armbruster from Pixabay 0 See more from Benzinga The Quantum Threat, Libra, Exchange Offerings, And Bitcoin ETFs: Here Are This Year's Biggest Trends In Cryptocurrency After Trump's Tax Reforms – How Your Taxes Have Changed © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Random Sample of Social Media Buzz (last 60 days)]
@STEVEN_HALL_bTC @jimmysong If they're irrelevant, where will the new capital come from?
Is Bitcoin the only asset with a sound monetary policy? || Chinese bitcoin miner makers are keen to position themselves as “AI chip producer” to get gov support. But if you read Canaan Creative’s SEC filing you know: Canaan Creative only gained revenue of RMB 500k from AI products, although it has been telling AI chip story since 2016. || nhận định khung 1D của BTC || #BZT || Sooooooooooo frigging Sexy💫❤️#btc #crypto https://t.co/7Yh8NGMyXF || $BTC is now worth $8,660.70 (+0.47%) #BTC
➡️ https://t.co/lNpLBdQRKt || Effective homemade guns and ammo powered by a bitcoin economy can’t come too soon. || @ryandetzel @hunvreus @paulg I think you're looking for Bitcoin QR codes. 😉 || Join now: https://t.co/HeZbnArgPa Istanbul to Berlin: #Ethereum Milestones on the Road to Serenity https://t.co/nQzUSAjo4f #trading #bitcoin #crypto || Don’t depend on a single income.
Learn how to make $10,000 weekly on the bitcoins investment, ASK ME HOW
#cnn #entrepreneur #motivation #bitcoinmining #cnnbusiness #forex #bitcoin #blockchain #aljazeera #usa #germany🇩🇪 #southafrica #sa #workouts #austria #vienna #Colorado https://t.co/fV2qnMw7zs
|
Trend: up || Prices: 6640.52, 7276.80, 7202.84, 7218.82, 7191.16, 7511.59, 7355.63, 7322.53, 7275.16, 7238.97
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-11-18]
BTC Price: 56942.14, BTC RSI: 37.96
Gold Price: 1861.00, Gold RSI: 63.71
Oil Price: 79.01, Oil RSI: 44.52
[Random Sample of News (last 60 days)]
AMC Theatres to Accept Bitcoin, Ether for Online Payments: AMC Theatres, the largest movie theater chain in the U.S., will now accept bitcoin, ether and other cryptocurrencies for online payments, CEO Adam Aron said. Following reports in August that AMC would be accepting crypto for tickets and concessions later in the year, Aron confirmed that the service is now in operation. “As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… bitcoin, ethereum, bitcoin cash, litecoin,” he tweeted on Friday . He also indicated that dogecoin will be the next crypto added. AMC began accepting doge as payment for gift cards in partnership with BitPay in October. AMC has 593 U.S. theaters and 335 international locations. Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB — Adam Aron (@CEOAdam) November 12, 2021 Read more: Burger King to Give Crypto Rewards With Robinhood || Florida woman accused of attempted murder-for-hire using Bitcoin as payment: A Florida woman has been arrested and charged in a murder-for-hire scheme using Bitcoin as payment. FBI agents said 50-year-old DeAnna Marie Stinson of Tampa, an accountant, used the dark web in June to try to hire someone to kill her ex’s spouse, providing the victim’s name, address and photo, according to the Department of Justice . Stinson is accused of paying $12,000 in Bitcoin between June and July. She made repeated attempts to hire someone and offered a bonus if the victim was killed by a specific date, according to the DOJ . Stinson went as far as messaging administrators of the dark web, and when she hadn’t heard from them on July 31, she asked them to “reassign the job to someone who has a history of getting jobs done,” prosecutors allege. Law enforcement officials said they found financial evidence from her account. An agent, pretending to be a hitman, contacted her. In a call she didn’t know was being recorded, Stinson confirmed she wanted the victim killed and agreed to pay for the hit in Bitcoin so it couldn’t be traced, according to authorities. She allegedly paid the agent $350 in Bitcoin on Sept. 13 so that the undercover agent posing as a hitman could buy a gun to commit the murder. Stinson is facing charges of soliciting a crime of violence and murder-for-hire, with a maximum penalty of 10 years in prison. || Bitcoin Faces Resistance Above $62K After Record Weekly Close: Bitcoin ended Sunday (UTC) well above $61,000, confirming its highest weekly close and putting the lifetime price record of $64,801 on the map.
So far, the follow-through has not been impressive. The cryptocurrency was trading near $61,300, having faced rejection around $62,600 early today.
• Since Friday, buyers have failed several times to establish a foothold above $62,000. That, coupled with the lower highs on the relative strength index (RSI), indicates scope for a temporary price pullback.
• Failure to defend Sunday’s low of $58,943 may bring stronger selling pressure.
• However, optimism stemming from the U.S. Securities and Exchange Commission’s tacit approval of a bitcoin futures-based exchange-traded fund is likely to keep the cryptocurrency well supported on price dips.
Also read:CME Sees Record Open Interest in Bitcoin Futures Ahead of ETF Debut || What to Make of the First Bitcoin Futures ETF Launch: Abitcoin futures exchange-traded fund(ETF) launched Tuesday morning – and sawstrong demandfrom investors.
This indicates some amount of market maturity and acceptance from regulators at the U.S. Securities and Exchange Commission (SEC), but also raises new questions about whether the format of the product is appropriate for investors and when a physical ETF may go live.
You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government.Click hereto sign up for future editions.
The first bitcoin (futures) ETF in the U.S. began trading today, bookending an eight-year effort to launch a widely accessible, regulated bitcoin investment product.
Advocates of a bitcoin ETF have sought for literally years to launch such a product. They’re finally getting their wish, but not in full – the first product will be a bitcoin futures ETF.
While this is certainly something, it likely won’t receive the same amount of attention or asset inflow that a physical bitcoin ETF would have, which raises the question of whether a physical bitcoin ETF is possible at all, and what might need to happen to see one launch.
Longtime readers may recall that in February I asked if 2021would be the yearwe finally see a bitcoin ETF in the U.S.
At the time the conclusion I drew was, “Well, maybe.”
There was genuinely an immense amount of hope and hype that the SEC would finally approve a bitcoin ETF, with proponents pointing to how the bitcoin market has changed since 2018, the new administration in Washington and the growth of a regulated futures market.
And it turns out they were right! Sort of. A bitcoin futures ETF began trading this morning, a first for this type of product in the U.S. An actual physical bitcoin ETF still seems some time away, though. (On that front, Grayscale, which shares a parent company with CoinDesk,filed Tuesdayto convert its Grayscale Bitcoin Trust into a spot bitcoin ETF.)
So the race to be the first to launch a bitcoin-related ETF has ended. All eyes are on whoever will be second, and whether ProShares will have a massive first-mover advantage or not.
In theory, the next bitcoin futures ETF that could have launched would be Invesco, butthe company announcedit was pulling out late on Monday.
This leaves Valkyrie and VanEck with bitcoin futures ETFs that could launch as soon as Oct. 25, giving ProShares nearly a week to ride the initial wave of enthusiasm.
Valkyrie, at least, is moving to launch early. While the company hasn’t filed a post-effective amended prospectus as of Monday night, the firm didupdate its ticker,add pricing informationandsend initial listing informationto the Bloomberg Terminal data team, all signs that it’s about ready to go.
To launch, Valkyrie would need explicit permission from the SEC, but it could follow ProShares pretty quickly if it receives that permission.
Gen, an analyst with Bloomberg Intelligence, said, “All this started when [SEC Chair Gary] Gensler outlined what he expected.”
What isn’t clear is if/when a physically backed bitcoin ETF will launch.
Gensler’s comments would suggest that this won’t happen anytime soon, certainly not in 2021.ETF expertson Twittersay sometime in the fourth quarter of 2022 may be a reasonable expectation. Seyffart agreed.
“I view the futures ETF as a stepping stone,” he said. “I highly doubt the SEC will approve the product this year.”
Companies filing for ETFs seem unconvinced.
Bitwise Asset Management, which filed fora futures ETFin September,filed for a physical bitcoin ETFlast week. CIO Matt Hougan said he believes the market itself is mature enough to support the product, citing data Bitwise compiled which ranks CME as the leading exchange for bitcoin price discovery.
The timing remains curious to me. Will Gensler or the SEC staff really become more comfortable with a physical ETF within the legally mandated time frame for Bitwise or Grayscale’s filings?
The answer may not depend on the SEC’s view of market maturity at all. While maturity and market surveillance were two key issues often cited by the SEC as it rejected bitcoin ETF applications in 2018 and 2019, Gensler’s more recent comments have largely focused on investor protections.
He said he was comfortable with the investor protections enshrined in the Investment Company Act of 1940, which oversees futures ETFs, when compared to the Securities Act of 1933, which oversees the physical ETFs.
The challenge for aspiring issuers may be drawing parallels between the futures ETFs and the physical ETFs and their respective investor protection clauses.
And just a quick personal aside: Bitcoin ETF stories arehow I landedin the regulatory beat, but it’s still genuinely a surprise that one launched this morning (even if it is a futures filing).
DeFi on the Ballot: Yearn Developer Matt West Is Running for Congress
• AYearn.Financedeveloper and former MakerDAO lobbyist is running for the U.S. House of Representatives. Matt West told my colleague Andrew Thurman that he’s been considering this move for a while. What’s interesting to me is that while many other members of the crypto sphere have discussed running for office, many of those musings have been focused on how Congress treats crypto. West isn’t presenting himself as a single-issue candidate.
Crypto 2022: Policy Week
• CoinDesk is kicking off a full week of policy coverage to coincide with DC Fintech Week. Spearheaded by my colleague Ben Schiller, expect a number of deeply reported articles and opinion contributions discussing policy within and outside of the U.S.
Crypto Learns to Play the DC Influence Game
• While you should read all of the Policy Week stories, I wanted to highlight this feature by Rob Garver on the lobbying efforts around crypto. As crypto gains a larger profile in Washington, I would expect to see a lot more effort from businesses in advocating for specific types of regulation.
• (The Washington Post) Crypto Twitter was one of the places you may have seen a ruckus about a proposed Treasury Dept./IRS move to collect certain information from bank accounts with more than $600 in them. The backlash, which came from lawmakers as well as industry players, seems to have spurred changes. The IRS will now report information from accounts that have gained more than $10,000 in non-wage income (i.e., your salary won’t count).
• (Reuters) Minorities may be more likely to buy into bitcoin, largely due to lack of access to the traditional banking sector, Reuters reported, citing a number of surveys.
If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me atnik@coindesk.comor find me on Twitter@nikhileshde.
You can also join the group conversation onTelegram.
See ya’ll next week! || US-Listed Mining Firms Are Holding Over $1 Billion In Bitcoins: Corporate entities are starting to hold more Bitcoins on their balance sheet as they consider the leading cryptocurrency to be an excellent store of value.
Cryptocurrency mining firms in America are currently hoardingBitcoinswith the hopes that the price of the leading cryptocurrency would rally higher. This comes as Bitcoin crossed the $55k mark and could be headed towards $60k in the coming days.
According to the latest monthly production report, US-listed mining firms Riot, Marathon, Bitfarms, Hut8, Greenidge, Argo, and HIVE mined approximately 6,463bitcoinsin the third quarter of the year. This figure accounted for 7.5% of the total BTC block rewards available during Q3 of 2021.
Furthermore, the report revealed that theBitcoinmining production levels of Riot, Marathon, Bitfarms, Hut8, Argo, and HIVE surged by 82% in the last quarter compared to the second quarter of the year. The increase in mining production was due to massive expansion in their mining machines and the crackdown on cryptocurrency mining activities in China.
While hoarding thebitcoinscould pay off for the companies, in the long run, they have to think about how to pay the bills in the short term. The mining firms must think about how to pay the light bills, pre-order new equipment, expand their facilities in North American and handle other utility bills.
The cryptocurrency market has been performing well since the start of this quarter.BTCfinally crossed the $50k mark earlier this week and is now trading close to the $55k level again. It reached the $56k level earlier today before slightly retracing to now trade above $54k per coin.
However, with the current market momentum, Bitcoin could soon reach $60,000 in the coming days. Most market experts and analysts are optimistic thatBitcoinwill reach $100,000 before the end of the year. However, it will have to rally by nearly 100% from its current price before it can reach that level.
Thisarticlewas originally posted on FX Empire
• Natural Gas Price Prediction – Prices Ease as UK Gas Prices Drop
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• US-Listed Mining Firms Are Holding Over $1 Billion In Bitcoins
• USD/CAD: Loonie Hits Over Two-Month High on Strong Jobs Data
• Silver Price Forecast – Silver Give Up Early Gains After Jobs Miss
• Silver Weekly Price Forecast – Silver Markets Continue Choppy Behavior || Why WiMi Hologram Cloud Shares Surged Today: WiMi Hologram Cloud Inc(NASDAQ:WIMI) surged higher by 12.84% Friday, closing at $4.92 after the company announced the submission of a trademark application for "WIMI METAVERSE."
WiMi Hologram Cloud said the trademark will help the company improve the intellectual property protection system, maintain a leading position in technology and enhance its core competitiveness.
The company said it plans to use the "WIMI METAVERSE" trademark to generate commercial value in Metaverse commercial applications.
According to WiMi Hologram Cloud, "Metaverse refers to the virtual world parallel to the real world through the technical support of AR and VR, which is expected to reconstruct the virtual world, and bring new opportunities in the platform ecology, hardware demand, infrastructure, content form and other aspects."
WiMi Hologram Cloud offers augmented reality based holographic services and products that cater to its customers.
WIMI Price Action:WiMi Hologram Cloud has traded as high as $12.93 and as low as $3.47 over a 52-week period.
Photo:Graphics NinjafromPixabay.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Pullback Could Stabilize Around $60K Support: Bitcoin (BTC) is consolidating around $63,000 after buyers failed to sustain a price bounce over the weekend.
The cryptocurrency is displaying signs of upside exhaustion on the charts, which suggests further downside is likely, albeit limited toward the $57,000-$60,000supportzone.
The relative strength index (RSI) on the four-hour chart (see above, featured image) registered an oversold signal on Nov. 12, although buyers quickly took profits around the $66,000 resistance level. The RSI is currently neutral, which means a period of consolidation could persist this week.
For now, upside momentum is slowing on the daily chart, indicating risk of a pullback into Asian trading hours. || Why Affirm Shares Are Falling: Affirm Holdings Inc (NASDAQ: AFRM ) shares are trading lower as the stock pulls back from recent strength, which was driven by strong first-quarter results. Affirm on Wednesday reported quarterly losses of $1.13 per share which missed the analyst consensus estimate of a loss of 30 cents per share. Affirm reported quarterly sales of $269.40 million which beat the analyst consensus estimate of $248.23 million by 9%. The company announced that it has expanded its relationship with Amazon (NASDAQ: AMZN ). Affirm will be generally available to support all eligible purchases of $50 or more on Amazon.com and the Amazon shopping app in the United States. "Our strong quarter once again demonstrates the continued momentum across Affirm as more people embrace the transparency, flexibility and value our solutions provide," said Max Levchin , Founder and CEO of Affirm. "Our unrivaled technology, industry-leading talent and the investments we are making are delivering results. Over the last year, we expanded our network by increasing the number of active merchants on our platform to over 100,000 and more than doubling the number of active consumers. These deep connections and our partnerships with merchants drove growth in GMV, frequency of engagement, and revenue," Levchin stated. Affirm offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. The firm generates its revenue from merchant networks, and through virtual card networks. See Also: Why (And When) Anthony Scaramucci Expects Bitcoin To Reach 0,000 Affirm has a 52-week high of $176.65 and a 52-week low of $46.50. See more from Benzinga Click here for options trades from Benzinga Thinking About Buying Stock In Affirm, GoPro, Macy's, GM, ContextLogic Or Bumble? Why Affirm Shares Are Rising © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || HIVE Achieves Record Quarterly Revenue of $37.2 Million and Earnings of $18.6 Million for Q1 F2022: This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.
Vancouver, British Columbia--(Newsfile Corp. - October 4, 2021) - HIVE Blockchain Technologies Ltd. (TSXV:HIVE) (Nasdaq: HIVE) (FSE: HBF) (the "Company" or "HIVE") announces its results for the first quarter ended June 30, 2021 (all amounts in US dollars, unless otherwise indicated).
Gross revenue from digital currency mining was $37.2 million in the first quarter, a 466% increase from the same quarter last year, and 11% higher than the previous quarter. Record quarterly net income of $18.6 million, up significantly from $1.8 million a year earlier, and $4.3 million higher than the previous quarter. Gross mining margin expanded to $31.0 million, from $2.6 million last year, and is $3.3 million higher than that experienced in the prior quarter of $27.7 million. Net income per share grew to $0.05 from $0.00 during the prior year and is $0.01 higher than the previous quarter of March 31, 2021.
"The first quarter of fiscal 2022 has continued the momentum that we had in fiscal 2021. It's been an incredible year for HIVE. Despite the effects of COVID-19 and associated supply chain issues, we have achieved record results and continued to increase our Ethereum and Bitcoin mining capacity," said Frank Holmes, Interim Executive Chairman of HIVE.
What many investors have not realized the significance of mining Ethereum in addition to Bitcoin, which has continued to exhibit very strong performance throughout this calendar year, after our Q1 period end of June 30, 2021, and even after the London Hard Fork in August 2021.
Of note, for the month of September 2021, HIVE mined approximately 221 Bitcoin and 2,572 Ethereum. On a daily revenue basis during September 2021, this income from Ethereum would be equal to mining approximately 186 Bitcoin. Therefore, the total equivalent of Bitcoin mined on a daily revenue basis for HIVE's September 2021 production is approximately 407 Bitcoin, or an average of approximately 13.6 Bitcoin equivalent mined per day.
As such, Hive appears to be the most profitable Crypto mining company amongst our peers with a rapidly growing Bitcoin HODL strategy.
"During this most recent quarter we acquired HIVE Atlantic in April 2021, giving us a substantial Bitcoin mining operation in New Brunswick, Canada. We are well into the process of expanding capacity through new construction at this data centre campus and are installing next generation Bitcoin mining equipment which is arriving monthly.
"The acquisition of the New Brunswick data centre campus gives us a strategic advantage in this competitive industry. Owning our own state-of-the-art facilities means we don't have to worry about landlords raising the rent and gives us full control of our operations.
"HIVE now has the land, buildings, talent, and mining equipment we need to succeed. We are focused on improving efficiency and profitability by optimizing cryptocurrency mining output. We're lowering costs and maximizing our existing electrical and infrastructure capacity by installing new mining equipment as the orders roll in.
"During the first fiscal quarter we received ASIC machines every month, which allowed us to allocate these new generation miners between our 2 facilities in Canada. These purchases were partially funded by the $100 million At-The-Market Program. We sold a small amount of Ethereum to upgrade our equipment with Nvidia latest generation of high performing GPU chips but continue to HODL 25,000 ETH and 1,030 BTC. We continue to ramp up production of both BTC and ETH."
Q1 Quarterly Highlights- June 30, 2021
• Generated revenue from digital currency mining of $37.2 million, with a gross mining margin[1]of $31.0 million
• Mined 225 Bitcoin and over 9,700 Ethereum during the three-month period ended June 30, 2021
• Earned net income of $18.6 million for the period
• Working capital increased by $20.9 million during the three-month period ended June 30, 2021
• Digital currency assets of $82.2 million, as at June 30, 2021
Q1 F2022 Financial Review
For the three months ended June 30, 2021, revenue from digital currency mining was $37.2 million, an increase of approximately 466% from the prior year. This was primarily due to an increase in the production of Ethereum and Bitcoin stemming from mining expansion, and considerably higher coin prices.
Gross mining margin1during the year was $31.0 million, or 83% of revenue from digital currency mining, compared to $2.5 million, or 39% of revenue from digital currency mining, in the same period the prior year. The improvement was primarily due to the Company's assumption of control over its operations in Sweden during fiscal 2020, which has resulted in lower costs, combined with the cessation of Bitcoin cloud mining operations after they became unprofitable in the third quarter of fiscal 2020, and the switch to independent mining at our Bitcoin mining facility in Quebec. The Company's gross mining margin from digital currency mining is partially dependent on external factors including mining difficulty, the amount of digital currency rewards and fees received for mining, as well as the market price of digital currencies.
Net income during the quarter ended June 30, 2021 was $18.6 million, or $0.05 per share, compared to $1.8 million, or $0.00 per share, the same period last year. The improvement was driven primarily by the increase in gross mining margin1, higher Ethereum and Bitcoin prices, gains on the sale of digital currencies, and foreign exchange.
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/5335/98425_494c8545247fd934_001full.jpg
(1) Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" in the Company's MD&A.
(2) Revaluation is calculated as the change in value (gain or loss) on the coin inventory. When coins are sold, the net difference between the proceeds and the carrying value of the digital currency (including the revaluation), is recorded as a gain (loss) on the sale of digital currencies
Financial Statements and MD&A
The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the three months ended June 30, 2021 will be accessible on SEDAR atwww.sedar.comunder HIVE's profile and on the Company's website atwww.HIVEblockchain.com.
Webcast Details
Management will host a webcast on Monday, October 4, 2021 at 10:00 am Eastern Time to discuss the Company's financial results. Presenting on the webcast will be Frank Holmes, Executive Chairman, and Darcy Daubaras, Chief Financial Officer. Clickhereto register for the webcast.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.
We encourage you to visit HIVE's YouTube channelhereto learn more about HIVE.
For more information and to register to HIVE's mailing list, please visitwww.HIVEblockchain.com. Follow@HIVEblockchain on Twitterand subscribe toHIVE's YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd."Frank Holmes"Executive Chairman
For further information please contact:Frank HolmesTel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about restructuring of the Company's operations and sustainable future profitability; potential further improvements to the profitability and efficiency across mining operations by optimizing cryptocurrency mining output, continuing to lower direct mining operations cost structure, and maximizing existing electrical and infrastructure capacity including with new mining equipment in existing facilities; continued adoption of Ethereum and Bitcoin globally; the potential for the Company's long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the efficiencies obtained through restructurings may not lead to operational advantages or profitability; further improvements to the profitability and efficiency may not be realized as currently anticipated, or at all; the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company dated and other documents disclosed under the Company's filings atwww.sedar.com.
This news release also contains "financial outlook" in the form of gross mining margins, which is intended to provide additional information only and may not be an appropriate or accurate prediction of future performance, and should not be used as such. The gross mining margins disclosed in this news release are based on the assumptions disclosed in this news release and the Company's Management Discussion and Analysis for the fiscal year ended March 31, 2021, which assumptions are based upon management's best estimates but are inherently speculative and there is no guarantee that such assumptions and estimates will prove to be correct.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to realize operational efficiencies going forward into profitability; profitable use of the Company's assets going forward; the Company's ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
[1]Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" below.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/98425 || CoinPal Announces the Launch of Its Crypto Exchange: LONDON, UK / ACCESSWIRE / November 18, 2021 /Recently, CoinPal has announced the launch of its crypto exchange, offeering a system for users' data and the best encryption technology to ensure maximum protection at exchanging Bitcoin. It provides a digital platform for exchanging assets with other valuable assets. There are various ways of making payments or doing a cash-out for users' asset value using CoinPal.
Users can use their Bitcoin (BTC) on CoinPal and exchange the crypto coins for a very reasonable price. Unlike other crypto exchanges that charge a high amount of fees for their services from the traders or investors, Coinpal charges less than a 1% transaction fee (making it the most affordable option for investors). The fees vary depending on the transaction value.
CoinPal sends the asset value directly to the account, from where it can be transferred to other pay services. In addition, the value of cryptocurrency assets can also be converted into different funds. Such assets are useful for cash out later.
What are cryptocurrency exchanges?
Cryptocurrencies are one of the essential hotspot topics of the current time. In the investment and financial world, cryptocurrency has been a considerable force. Even after all the volatile guesses and prejudices, cryptocurrency has been able to rise and grow. People must have heard about Bitcoin. It is one of the famous cryptocurrencies.
With the rise of cryptocurrency in the financial world, crypto exchanges also came into existence. They provide a platform for exchanging digital assets. All the buying and selling of digital currencies like Bitcoin happens on these platforms. Other functions like Bitcoin to Paypal transfer or any other medium also occur on the same platform. For any new or old investor, understanding cryptocurrency exchanges are critical. Here, we will discuss every important concept of cryptocurrency exchanges.
Segments of cryptocurrency exchange.
Cryptocurrency exchanges are mainly divided into two segments.
• Centralized cryptocurrency exchange:
This cryptocurrency exchange offers better reliability to the transactions. A company or organization backs all the transactions or exchanges. It also governs or advises new investors in the decision-making process.
• Decentralized cryptocurrency exchange:
This cryptocurrency exchange segment is better for people who want more security and anonymity in their transactions. There is no third-party involvement in this type of cryptocurrency exchange. As a result, the transaction is done only through peer-to-peer means. In addition, encryption reduces the risk of hacking and manipulation of the market.
Operation of Cryptocurrency exchange:
In terms of legislation, cryptocurrency exchanges are not yet authorized by any government completely. There are various federal laws for managing such exchanges, but it depends on region to region. The cost of cryptocurrency in the current scenario doesn't affect the management of cryptocurrency exchanges.
Find out more about the CoinPal athttps://CoinPal.eu/.
Social Links
https://www.instagram.com/coinpal.eu/
Media Contact:
Brand: CoinPalContact: Kim MusaiE-mail:kim_musai@coinpal.euWebsite:https://CoinPal.eu/
SOURCE: CoinPal
View source version on accesswire.com:https://www.accesswire.com/673589/CoinPal-Announces-the-Launch-of-Its-Crypto-Exchange
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 58119.58, 59697.20, 58730.48, 56289.29, 57569.07, 56280.43, 57274.68, 53569.77, 54815.08, 57248.46
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-07-15]
BTC Price: 663.26, BTC RSI: 52.09
Gold Price: 1326.50, Gold RSI: 54.82
Oil Price: 45.95, Oil RSI: 46.31
[Random Sample of News (last 60 days)]
New York approves Ripple Lab's application for bitcoin license: By Patrick Rucker and Suzanne Barlyn WASHINGTON (Reuters) - New York state's financial regulator on Monday approved a license for bitcoin company Ripple Labs Inc, allowing it to offer digital currency services in the state. The New York State Department of Financial Services said the company had cleared a review of anti-money laundering, capitalization, consumer protection, and cyber-security standards. "DFS is pleased to continue to foster the growth of the New York virtual currency marketplace," Acting Department of Financial Services Superintendent Maria T. Vullo said in a statement. Bitcoin is a Web-based "cryptocurrency" that enables users to move money around the world quickly and anonymously without the need for third-party verification. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges. Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense." Ripple filed for the license under its corporate name, XRP II LLC, a venture backed by Andreessen Horowitz, Google Ventures and IDG Capital Partners. (Reporting By Patrick Rucker and Suzanne Barlyn; Editing by Alan Crosby) || Traders: Here's where to find some protection for your portfolio ahead of Brexit: The " Fast Money " traders debated which securities were best for padding portfolios with some near-term protection ahead of the vote in the U.K. on whether or not to leave the European Union. The CBOE volatility index (INDEX: .VIX) hit a high of 21.19 on Wednesday, ahead of the referendum vote. Trader Steve Grasso said that the utilities, consumer staples, gold and dividend yielding securities will likely be repurchased after the decision. Gold is a good play, according to trader Guy Adami. Overall, he believes that global slowdown and deflationary pressure are playing a bigger role in international markets than Brexit. Trader Dan Nathan said that he is watching the iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT) (TLT) because of past price action during catalytic events. "When you think back to August, when we really saw risk asset volatility go berserk, we had this spike to new all-time highs or multi-year highs in the TLT and then that came off, and it came off really hard once things calmed down," he said. "The same thing happened in February." Trader Brian Kelly said that the European banks are at risk of selling off because of the recent rally in those names. Deutsche Banke (XETRA: DBK-DE) , Credit Suisse (Swiss Exchange: CSGN-CH) and UBS (Swiss Exchange: UBSG-CH) are all up double digits in the last week. Kelly said he may be looking to increase his short positions in those stocks. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso Steve Grasso is long BA, CC, EVGN, GDX, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, UA. Steve Grasso's Kids are long EFA, EFG, EWJ, IJR, SPY. Stuart Frankel & Co Inc. and some of its Partners are long AAPL, AMZN, AVP, CUBA, CVX, DAL, FCX, HSPO, IBM, ICE, KDUS, KO, LDP, LUV, MAT, MCD, MJNA, NE, NEM, NXTD, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, UAL, URI, VALE, WDR, WYNN, ZNGA. Brian Kelly Brian Kelly is long Bitcoin, GLD, SFK, SLV, TLT, US Dollar UUP. He is short CS, DB, UBS Story continues Dan Nathan Dan Nathan is BABA June/Aug put spread, JD Call spread Long PFE, Long TWTR, IWM long Sept put, XLF long Sept Put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long TLT Sept risk reversal, XLV July calls, long C Sept puts, VZ July August put spread. More From CNBC Top News and Analysis Latest News Video Personal Finance || The Market In 5 Minutes: #TrumpSoPoor And More: 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 minutes@benzinga.com. Macro Focus U.S. stock futures traded higher in early pre-market trade. Futures for the Dow Jones Industrial Average jumped 69 points to 17,780.00, while the Standard & Poor’s 500 index futures rose 10 points to 2,084.25. Futures for the Nasdaq 100 index surged 22.25 points to 4,412.25. Germany's ZEW measure of economic expectations increased to 19.2 in June, compared to 6.4 points in May. Oil prices traded lower as Brent crude futures dropped 1.20 percent to trade at $50.04 per barrel, while US WTI crude futures also declined 1.13 percent to trade at $48.81 a barrel. The API's crude oil inventory report for the recent week will be released at 4:35 p.m. ET. BZ News Desk Focus Federal Reserve Chair Janet Yellen is scheduled to testify before the Senate Banking Committee in Washington at 10:00 a.m. ET, while the Federal Reserve Gov. Jerome Powell is scheduled to speak in New York at 2:30 p.m. ET. Some of last night's and this morning's most notable earnings: Lennar (NYSE: LEN ) Reports Q2 EPS $0.95 vs $0.79 in Same Qtr. Last Year, Sales $2.75B, Deliveries Up 12%, New Orders Up 10% CarMax (NYSE: KMX ) Reports Q1 EPS $0.90 vs $0.92 Est., Sales $4.13B vs $4.19B Est. Sell-Side Themes Goldman Sachs rearranged its ratings in the oil pipeline sector. Credit Suisse looked at some medical research names. Sell-Side's Most Noteworthy Calls Bank of America downgraded Lear (NYSE: LEA ) to Neutral. Deutsche Bank downgraded Prologis (NYSE: PLD ) to Hold. Morgan Stanley upgraded Marathon Oil (NYSE: MRO ) to Equal-Weight. Oppenheimer initiated coverage on Vivint Solar (NYSE: VSLR ) at Perform. Canaccord started coverage on Cirrus Logic (NASDAQ: CRUS ) at Buy. Deal Talk Impax (NASDAQ: IPXL ) reports deal to buy Generic Products from Teva (NYSE: TEVA ) and affiliates of Allergan (NYSE: AGN ) for $586 million. Story continues McKesson (NYSE: MCK ) is said to have had discussions about a merger of its IT unit with Change Healthcare. In The News The U.S. Senate on Monday failed to reach an understanding on gun sales and rejected four measures that would have restricted the sale of guns. Gun violence has been a hot topic in recent memory and intensified over the past week after a shooter pledged allegiance to the terrorist group ISIS and massacred 49 people, injuring dozens more at a gay nightclub in Orlando, Florida. Gun stocks were trading relatively flat Tuesday morning despite headline news appearing to be a bullish sign for the gun manufacturers. A study comparing hospital admissions in “wet” versus “dry” counties in Texas found that people living in dry counties, where sales of alcoholic beverages are prohibited, had a higher risk of being hospitalized for a heart attack or congestive heart failure than people living in wet counties, where such sales are allowed. Residents of wet counties were at elevated risk for a heart rhythm disorder called atrial fibrillation. According to POLITICO, Apple (NASDAQ: AAPL ) CEO Tim Cook will be hosting a fundraiser with House Speaker Paul Ryan next Tuesday, June 28. Cook and Gary Wipfler, the company’s treasurer, will be raising cash for Ryan and other House Republicans at a private breakfast in California. Blogosphere "Bitcoin is still mainly a gimmick favored by geeks who want to revolutionize the world and do away with central banks -- or by people in China wishing to take money out of the country," Gadfly says . "But of late, its appreciation suggests more investors may be seeing the unit as a store of value, one of the requirements for economists to start calling it a real currency." Trending OPK KMX MRO NUGT LEN WERN ABE QQQ REGN SPY AR UAL GNCA VIAB ETE GWPH [StockTwits] Apparently it's National Selfie Day, so make sure to annoy your friends, family and co-workers. Need a laugh? Check out #TrumpSoPoor. See more from Benzinga The Market In 5 Minutes: Believeland The Market In 5 Minutes: Quiet Friday Ahead Of Father's Day The Market In 5 Minutes: Rates Remain Unchanged, But Hikes Still Loom © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Spain's Santander names ex-JPMorgan executive Masters blockchain guru: (Reuters) - Banco Santander SA, Spain's largest lender, named former JPMorgan executive Blythe Masters its senior blockchain adviser as banks race to find new uses for the technology behind virtual currency Bitcoin. Proponents of blockchain, or distributed ledger technology, say it has the potential to shake up how financial markets operate. The technology creates a shared database in which participants can trace every transaction ever conducted. Santander is one of several banks investing in this sector to avoid being left behind by fintech start-ups. Citigroup, BNP Paribas and Goldman Sachs are among other big global banks that have invested in the technology. Masters, who spent 27 years at JPMorgan, has been leading the charge into blockchain by financiers. The blockchain software firm she started, Digital Asset Holdings, has raised more than $60 million from investors such as Goldman Sachs and the Australian Securities Exchange, which is partnering with the firm to work on using the technology in the cash-equities market. Masters was previously the chairman of Santander Consumer USA Holdings' board. She rose to prominence during the 1990s when she helped to create the credit-derivatives market. Her appointment comes shortly after Santander became the first British bank to start using blockchain to record international payments. The lender said at the time that it may start rolling out the service to customers next year. (Reporting by Richa Naidu in Bengaluru; Additional reporting by Jemima Kelly in London; Editing by Saumyadeb Chakrabarty) || Digital Currencies Could Completely Transform Global Markets: There has been a lot of talk in recent years about Bitcoin and the potential of digital currencies. So far, very few banks and countries have made much actual progress in creating digital currencies, butBloomberg’s Christopher Langner believes thatMisubishi UFJ Financial Group Inc (ADR)(NYSE:MTU)’s pledge to introduce MUFG Coin could be the first drop in a wave of new digital currencies.
Langner predicts that Mitsubishi UFJ’s move could become a trend in Japan, Brazil, China and Spain.
Digital currencies will allow for cheaper, safer global transfers of cash.
“For capital markets, digital currencies could enable instant settlement of securities trades, which would obviate the purpose of marketplaces such as the New York Stock Exchange,” Langner explained.
Related Link:With The Rise Of Algorithms, Has The Finance Job Market Hit Peak Human?
These new virtual currencies would likely be backed by government fiat currency, making them immune to the extreme volatility seen in the Bitcoin market.
Digital currencies could pose major threats to trade intermediaries likeIntercontinental Exchange Inc(NYSE:ICE) and custodians likeBank of New York Mellon Corp(NYSE:BK) andEuroclear.
Nasdaq Inc(NASDAQ:NDAQ) has already launched a digital-asset registry called Linq. The new registry does not yet allow digital asset trading, but Langner sees the move as a step in the right direction.
“It’s unlikely that blockchain will send the Big Board or Swift the way of the dinosaur,” he concluded.
However, digital currencies certainly seem poised to upset the status quo.
Disclosure: The author holds no position in the stocks mentioned.
See more from Benzinga
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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) || Spain's Santander names ex-JPMorgan exec Masters blockchain guru: July 12 (Reuters) - Banco Santander SA, Spain's largest lender, named former JPMorgan executive Blythe Masters its senior blockchain adviser as banks race to find new uses for the technology behind virtual currency Bitcoin. Proponents of blockchain, or distributed ledger technology, say it has the potential to shake up how financial markets operate. The technology creates a shared database in which participants can trace every transaction ever conducted. Santander is one of several banks investing in this sector to avoid being left behind by fintech start-ups. Citigroup, BNP Paribas and Goldman Sachs are among other big global banks that have invested in the technology. Masters, who spent 27 years at JPMorgan, has been leading the charge into blockchain by financiers. The blockchain software firm she started, Digital Asset Holdings, has raised more than $60 million from investors such as Goldman Sachs and the Australian Securities Exchange, which is partnering with the firm to work on using the technology in the cash-equities market. Masters was previously the chairman of Santander Consumer USA Holdings' board. She rose to prominence during the 1990s when she helped to create the credit-derivatives market. Her appointment comes shortly after Santander became the first British bank to start using blockchain to record international payments. The lender said at the time that it may start rolling out the service to customers next year. (Reporting by Richa Naidu in Bengaluru; Additional reporting by Jemima Kelly in London; Editing by Saumyadeb Chakrabarty) || Britain will open payment system to non-banks, BoE's Carney says: By Ana Nicolaci da Costa LONDON (Reuters) - The Bank of England plans to open Britain's payments system to businesses that wanted to compete with banks, the head of the central bank said on Friday, as part of an effort to boost the financial technology sector. The BoE is also setting up a unit to work with financial technology firms to tackle central banking problems in areas such as data security and analysis, including spotting anomalies and patterns in large sets of data, Bank of England Governor Mark Carney said in a speech. More than 1,000 non-bank payments providers currently serve customers, Carney said, but they have to rely on just four banks for access to high-speed payments through Britain's real-time gross settlement system. Allowing more companies to settle transactions using money held at the central bank should bolster financial stability and enable more efficient payments, Carney said. "It is not a one-way street, however," Carney said. Appropriate standards will need to be set for new settlement account holders, he said, and legal changes will be needed, too. The central bank has been working more closely with financial technology firms to better understand the potential risks for financial stability from their growing importance in the banking system, Carney said. Consulting firm PwC said it had been involved in a pilot project with the BoE to look at distributed ledger technology, which underlies payment systems such as Bitcoin and gives users a single shared view of how a security has been traded. Britain accounts for about half of European financial technology start-ups, which use technology ranging from cloud data storage to smartphones to provide loans, insurance and payment services as well as more business-focused needs. Carney had originally planned to make the announcement on Thursday at a major speech in the City of London. The announcement was postponed after the killing of British lawmaker Jo Cox. (Additional reporting by David Milliken, editing by Larry King) || Another Bitcoin ETF Is On Its Way: The Winklevoss twins, Cameron and Tyler, aren't the only notable Bitcoin investors looking to oversee the creation of an exchange-traded fund (ETF) that tracks the performance of the digital currency.
Related Link:Winklevoss Twins Approach BATS Global Markets To List Bitcoin ETF
SolidX Partners, a blockchain technology company, announced on Tuesday it has filed a Form S-1 with the Securities and Exchange Commission related to the proposed launch of an ETF called SolidX Bitcoin Trust.
The ETF is designed to provide investors with exposure to the daily change in the price of a bitcoin in U.S. dollars as measured by the TradeBlock XBX index.
The fund will not be actively managed and is expected to trade on the New York Stock Exchange under the stock symbol "XBTC."
Did you like this article? Could it have been improved? Please email feedback@benzinga.com to let us know!
See more from Benzinga
• Goldman Sachs Still Buying Twitter, Highlights Reacceleration In Product And Platform Innovation
• The Best Performing Stocks Since May 2015
• BMO's Adjustment In Coverage Of AIG, Chubb Limited And The Insurance Sector
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || This founder launched a $14,000 smartphone immediately after laying off employees at his other startup: (Mirage)Moshe Hogeg and team.
People in Israel's tight-knit startup community are talking about the reported death, and the odd life, of the once high-flying startup Mobli.
Mobli raised $86 million in venture funds in six years, including from some big names.
But the company made cuts this week in layoffs first reported by theIsraeli business newspaper Calcalistand confirmed by Business Insider.
Mobli's CEO, Moshe Hogeg, told us that the company had cut 15 employees this week and was closing its Israeli research-and-development center.
Sources are telling us that this represents all of Mobli's remaining Israeli employees, though Hogeg insists that the company is not being closed down entirely. He says he is retaining an R&D team in Europe.
Mobli employed about 50 people at its height, but sources tell us only a handful remain.
In Israel, the shock isn't so much that Mobli is struggling — it's that people don't understand how the company has stayed alive as long as it has. It jumped from one failed product to the next.
Mobli sprang to life in 2010 as a photo-sharing social-media site backed by high-profile angel investors including Lance Armstrong, Serena Williams, and Tobey Maguire. It later landed $60 million from Mexican billionaire Carlos Slim, it said, for a total of $86 million raised.
(Mobli.com)Lance Armstrong.
Perhaps the highest-profile photo shared using Mobli was Armstrong's notorious photo of himself with hisTour de France jerseys after he was barred for life by the International Cycling Unionfor doping.
But then Instagram came along and Facebook bought it, and that pretty much killed Mobli as a photo-sharing social network.
The company pivoted to other apps. In 2015 it launched an app called EyeIn, a photo service for publishers that let them find pictures of events shared on social-media sites.
It shut EyeIn down just two months after it was launched when Instagram blocked the app from using Instagram photos.
"We had to shut down EyeIn two months after launch because Facebook/Instagram blocked us from their API, rendering our technology useless,"Hogeg confirmed to us.
Mobli then moved on to Slant, a news site based in New York for freelance articles. Writers got professional editing, and Slant took a 30% cut of any advertising revenue their articles generated. Slant hit 4 million readers in a month and published 9,000 stories from 1,400 writers, but its editor, Amanda Gutterman, announced in her farewell letter in April that Slant was being shut down, asreported by Politico.
(www.galaxia.co)Mobli's Galaxia.
A former employee told us that much of this traffic was generated through paid-ad campaigns by services likeOutbrain.
Slant later told Politico that it was not closed for good but would be back once the company figured out a new business model.Guttermanhas moved on to a new job at The Dose, however, and the site is not functioning.
Mobli now has a new project,a social-network app called Galaxiathat launched in March, in which people are encouraged to take on different "personas."
Mobli says Galaxia's tech came from a startup it acquired called Pheed. The rumor was that it paid $40 million in cash for Pheed, butHogeg tells us that the true price was really "just a few million."
The people we talked to have marveled that Mobli says it is still in business and can't understand how.
Hogeg says Mobli has been clear where its money has come from: venture investors.
"We've always been very transparent about our funding," he says. "Amongst are investors: Carlos Slim, Leo DiCaprio, and Kenges Rakishev and all that info is readily available. We raised sufficient funds to allow us to stay in business thus far."
Mobli was also known for beingone of the first startups to use Nasdaq's private market, allowing early employees to cash out their shares in the company by selling them to other private investors.
In the meantime,Moshe Hogeg is focused on a new company,Sirin Labs, where he is president, investor, and cofounder but not CEO. The CEO is Tal Cohen.
Right after employees were let go at Mobli, Sirin launched its product on Tuesday in London: a smartphone forabout $14,000, or9,500 pounds.
The phone is aimed at wealthy people who want a fast and stylish phone that also encrypts all their data.
Sirin says it raised$72 million in funding and has 85 employees based in Switzerland, Sweden, England, and Israel.
NOW WATCH:This smartphone works by bending it
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[Random Sample of Social Media Buzz (last 60 days)]
BTCTurk 1926.0 TL BTCe 604.663 $ CampBx $ BitStamp 620.00 $ Cavirtex $ CEXIO 629.80 $ Bitcoin.de 576.25 € #Bitcoin #btc || BTCTurk 2093.8 TL BTCe 632.775 $ CampBx $ BitStamp 659.40 $ Cavirtex $ CEXIO 669.00 $ Bitcoin.de 596.43 € #Bitcoin #btc || BLOOMBERG NEWS : BRITISH buying bitcoin as safe haven from Sterling depreciation http://fb.me/1fFolj4hm || 1 #bitcoin 1675 TL, 554.317 $, 497.959 €, GBP, 35250.00 RUR, 60069 ¥, CNH, CAD #btc || One Bitcoin now worth $629.00@bitstamp. High $638.88. Low $625.37. Market Cap $ 9.886 Billion #bitcoinpic.twitter.com/fRn3sbqH9T || $534.85 at 16:45 UTC [24h Range: $515.00 - $548.50 Volume: 10388 BTC] || $470.34 at 23:00 UTC [24h Range: $451.78 - $478.16 Volume: 12069 BTC] || 1 #bitcoin = $9802.00 MXN | $531.14 USD #BitAPeso 1 USD = 18.45MXN http://www.bitapeso.com || Be judicious, buy your bitcoins at https://Bittylicious.com/refer/2465 £531.00 per BTC. (BPI +0.49%) #buy #bitcoin #banktrans || The #Bitcoin halvening is 1 day, 20:40:00 away. There's just 268 blocks remaining.
|
Trend: down || Prices: 660.77, 679.46, 673.11, 672.86, 665.68, 665.01, 650.62, 655.56, 661.28, 654.10
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-04-18]
BTC Price: 1211.67, BTC RSI: 61.80
Gold Price: 1291.70, Gold RSI: 74.73
Oil Price: 52.41, Oil RSI: 58.75
[Random Sample of News (last 60 days)]
Bitcoins civil war threatens to blow up the cryptocurrency itself: People walk next to a crack along a damaged road leading to Alto Hospicio commune, after a series of aftershocks, in the northern port of Iquique It is not uncommon for a new technology still finding its footing to undergo periods of tumultwitness the long ago war over videotape formats VHS and Betamax. Bitcoin, the cryptocurrency growing in popularity, turns out to be no different. For the last several years, technical experts have been arguing over how to adapt the currencys software to allow it to handle more transactions and meet the increased demand. The debate has recently become so heated that it threatens to throw bitcoin itself into chaos, a phenomenon most clearly seen in the recent plunge in bitcoins price. Uber has taken its self-driving cars off the road after one flipped over in Arizona The conflict threatens to fork bitcoin, splitting it in two. Each branch would run a different version of the cryptocurrencys software. Bitcoins principal innovation has been its blockchain, an immutable ledger of all the transactions ever performed with the cryptocurrency. A fork would generate two versions of the ledger, creating practical problems, like coins that could vanish , and philosophical ones, like agreeing on which blockchain represents the one, true, bitcoin. The tension reached a fever pitch last week when bitcoins top exchanges (with some notable exceptions, such as Coinbase) issued a joint statement explaining how they would deal with the split, called a hard fork. This acknowledgement of the very real possibility of a fork sent bitcoin traders scrambling to sell their holdings. Bitcoin fell 24% over two days, from March 16, though it has recovered significantly . The most useful language for English speakers to learn, according to an economist Both camps have doubled down on their positions, and the saber rattling is growing louder. There is talk of of changing the proof-of-work algorithm that bitcoin runs on, which could render the bitcoin mining industry, which earns millions a day in revenue, useless in one fell swoop. Minerswho process transactions and also increase the total supply of bitcoin in circulationare now threatening legal action against developers who are working on such a proposal. Theres also a widely circulated conspiracy theory that involves John McAfee, the anti-virus entrepreneur whos embroiled in a murder case in Belize . McAfee is supposedly colluding with a powerful Chinese miner to force a fork. The arguments The bickering over the right way to grow bitcoins transaction capacity is known as the block size debate. It has been raging for years. Last January it claimed a famous victim: longtime Core developer Mike Hearn, who quit the bitcoin world dramatically (paywall) because of the block size impasse. As if on cue, Hearns departure was dismissed as a whiny ragequit and the battle continued. Story continues The squabble over block size has divided the bitcoin world into the Bitcoin Core and Bitcoin Unlimited camps. The Core group, trading under the current BTC ticker, wants to solve the transaction problem by implementing a clever workaround called Segregated Witness, or SegWit, that will effectively increase the block size from the current 1 megabyte to 2 megabytes. The 1 MB restriction was an arbitrary limit put in place by bitcoins creator, Satoshi Nakamoto; some speculate it was to ensure that the bitcoin blockchain could be easily downloaded by users, and thus encourage adoption. In any case, it was a problem to be dealt with only if bitcoin succeeded. The Bitcoin Unlimited camp, which would trade under a new ticker symbol BCU, wants to remove any restriction on block size and thus transaction capacity. But that would force a hard fork and two bitcoins would then inhabit the Earth. The Unlimited camp is backed by Roger Ver, an early bitcoin adopter whose relentless evangelizing for the cryptocurrency earned him the moniker Bitcoin Jesus . Unlimited is also backed by major miners, and part of its pitch is that miners should decide on block sizes. It proposes to do this by letting miners set their own caps for blocks, reasoning that eventually, miners will come to an agreement about what the optimal block size should be. Supporters of Core argue that the Unlimited code is riddled with bugs. Indeed, last week a bug was exploited, sending 70% of Unlimited nodes offline thus reducing the amount of processing power devoted to implementing it. But Core is making a larger, philosophical point, about who controls the bitcoin network. They dont like the idea of miners setting block sizes because they believe it increases centralization of bitcoin. Without a block size cap, powerful miners can simply mine bigger blocks, and thus be responsible for larger chunks of the bitcoin network, entrenching themselves further. Coffee money or digital gold? Theres also a struggle about bitcoins function. As Adam White, who runs the GDAX exchange, tells Forbes , the Core camp wants to treat bitcoin as digital gold: a finite resource whose fundamental properties cant be changed. The Unlimited folks want bitcoin to be digital cash, with limitless transaction capacity so that everyday payments can be recorded on the blockchain. Vinny Lingham, a noted analyst of the bitcoin industry, observes : Roger [Ver] wants cheap coffee transactions, Core wants to ensure [bitcoin is] sufficiently decentralized and secure. Still, bitcoins blocks are getting filled up, meaning transactions cant be processed quickly enoughhence the urgency for a solution. Critics say that Core developers proposal for a 2 MB block size, SegWit, simply delays the inevitablea hard forkbecause it doesnt raise the cap enough. A solution to Satoshis block size limit can no longer be avoided. Whos winning? So whos winning? One exchange has opened what is effectively a prediction market for a hard fork. It lets traders buy tokens representing the adoption of either Core or Unlimited. If Unlimited isnt adopted, and a fork doesnt occur, Unlimited tokens become worthless. By this measure Core is winning: tokens representing its adoption are worth four times the Unlimited tokens. But Unlimited is gaining ground among miners. About 40% of the processing power, or hashrate, on the bitcoin network supports Unlimited, compared to 60% supporting Core, according to analytics site Coin Dance . And the gap is rapidly closing. The picture isnt as simple as whos got more hashing power. In order for Cores SegWit proposal to be adopted, 95% of hashing power must be devoted to it, according to a threshold set by its developers. Unlimited doesnt have a fixed threshold. Instead, it relies on a rather circular logic: It can only be adopted if miners decide to admit blocks larger than the current 1 MB, but miners would only have an incentive to so if other miners did the same. Its kind of like people getting together to cross a road. Everyone holds hands and then someone decides to cross and everybody crosses with it, one Redditor explained . A hard fork isnt unprecedented for a major cryptocurrency. Ethereum experienced this after a hack , birthing whats now known as ethereum classic . The fork also arose from ideological disagreements: The solution to the hack was to undo some transactions, which struck some ethereum users as an unprincipled move. A blockchains immutability is one of the pillars of the cryptocurrency world. Today the two coexist; there is even a publicly traded ethereum classic fund for the over-the-counter markets, although the value of all ethereum in circulation is about 18 times greater than ethereum classic. But ethereum is a lot younger than bitcoin; it was only a year old when it split. The value of all ethereum in circulation is about a quarter of bitcoins current $17 billion value. A messy hard fork for bitcoin could mean serious disruptions for miners, who operate industrial-scale facilities, the well-funded exchanges, and the myriad startups who have raised $1.5 billion in venture capital collectively since 2012. A lot is riding on the question of how to scale bitcoin, and the conflict is showing no signs of easing up. Read this next: Bitcoin might just be a plausible response to the war on cash declared by governments around the world Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Employee burnout is becoming a huge problem in the American workforce IBM, remote-work pioneer, is calling thousands of employees back to the office View comments || How Hedge Funds Use ETFs: Eric Balchunas is a senior ETF analyst at Bloomberg, where he has more than a decade of experience working with ETF data, designing new functions and writing ETF research for the Bloomberg terminal. He also writes articles, feature stories and blog posts on ETFs for Bloomberg.com and appears each week on Bloomberg TV and Radio to discuss ETFs. ETF.com recently caught up with him to discuss how hedge funds are using ETFs.
ETF.com: You've recently talked a lot about how hedge funds use ETFs, so I wanted to pick your brain about that. I found it interesting that you said hedge funds have more short positions than long positions in ETFs. Why is that?
Eric Balchunas:Correct; they have $104 billion in short positions compared to $30 billion in long positions.A lot of people think hedge funds are out there trying to swing for the fences and return 100% every year. But most of them are looking to isolate certain things in the market, whether they're using merger arbitrage, event-driven or long/short strategies. To do the short side of those trades, they’ll use ETFs so they can cancel out the beta of the market and isolate their positions.
Yes, some of the shorting is just straight-up betting against the market. But most of it is this use of the ETFs as a hedging vehicle. It's interesting that the $104 billion worth of short positions is over half of the total short interest in ETFs, so it’s significant.
ETF.com: Which ETFs are they shorting?
Balchunas:Goldman Sachs lists the short positions, and it's exactly what you would think. It's the old-school products like the Sector SPDRs, thePowerShares QQQ Trust (QQQ)and theSPDR S&P 500 ETF (SPY)―all the most liquid ones. They've also started to use theiShares iBoxx $ High Yield Corporate Bond ETF (HYG)now that it's gotten more liquid.
None of the names on the most-shorted list are surprising, but I was surprised a little by the funds that they are long.
ETF.com: Which ones were those?
Balchunas:VWO is a good example. That's the ETF with the most net long among hedge funds.
ETF.com: You noted Vanguard is the only issuer where hedge funds are net long. That's an interesting pairing, because Vanguard ETFs have a reputation for being buy-and-hold types of investments, while hedge funds have a reputation for being relatively active.
Balchunas:That number is really fascinating to me and it speaks to, in my opinion, Vanguard's wide appeal. Who doesn't like cheap? That's just so universal.
Also, Vanguard may be the only one net-long, because iShares and SPDR have so many really liquid products that hedge funds love to short. On the other hand, Vanguard's products are usually the second- or third-most-liquid in a category, but rarely are they the first.
It says a little bit about the cost-consciousness of hedge funds, but it also says a little bit about how Vanguard still has yet to really break through that liquidity barrier where they become the most liquid of a category.They're getting there. Vanguard ETFs have tripled in daily volume over the last five years. This is a big development, because if Vanguard starts to get that mass liquidity, it gets bigger fish attracted to it, and that just beefs up the liquidity exponentially.
ETF.com: What ETF is owned by the largest number of hedge funds?
Balchunas:SPY; it's owned by 154 hedge funds. TheSPDR Gold Trust (GLD)is No. 2, at 112. GLD is punching above its weight, because it's not the second-biggest in assets or volume. It speaks to the convenience factor of ETFs. You can go get physical gold, but you have to store it and insure it. It's kind of a pain. The ETF comes along, and even a hedge fund would say that it's just easier and cheaper to own GLD.
ETF.com: We talk about hedge funds as a monolith, but they each have very different investment philosophies. Some have claimed that ETFs are dangerous and they wouldn't touch them. Can you tell us about that?
Balchunas:They usually have two complaints. One is on the high-yield debt stuff. They ask, "How can something be liquid when the holdings aren't as liquid?" The other complaint is on the general rise of passive investing creating inefficiencies.
But on the flip side, as we discussed, hundreds of hedge funds use the products, including HYG. Carl Icahn, who's the king of the hedge funds, says, and I'll quote him here, "There is no liquidity"—this is about HYG—"That's what's going to blow this up."
Now, you have 50 hedge funds that hold HYG. So either they don't listen to him, or he has another motivation. Bill Ackman, another big hedge fund manager, also expressed some complaints about ETFs, but that was after a rough year for his hedge fund. You might want to factor that in.
Either way, the hedge fund relationship with ETFs is a layered one. They use them in certain cases; they complain about them in other cases. The term I use is "frenemies."
ETF.com: Do some of them feel threatened by ETFs, with all the alternative ETFs and smart-beta ETFs coming out?Balchunas:I don't think they feel threatened. Liquid alts—which are hedge fund strategies in passive structures like ETFs—just haven't done much. There are two reasons for this.
One is that when you're doing sophisticated strategies that involve shorting―especially since shorting can be costly, and you have to time it―putting that into a rules-based index might not be the most efficient way to exercise that.
And No. 2 is, when you buy a hedge fund, you're kind of buying the brain of the manager. Where smart beta has really made a threat to active is in the factors. CalPERS is a high-profile example: They fired their hedge funds and employed a factor strategy in-house. That didn't involve ETFs, but it tells you it's possible you could swap out some hedge fund strategies and use factor ETFs in their place.
Smart beta assets are $500 billion. That's real money. So if anything was a threat to hedge funds, it would probably be in the factor area―not the liquid alts. I just don't see the merger arb ETF taking any assets from a real merger arb hedge fund.
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Inside the World's Greatest Scavenger Hunt, Part 1: In the fall of 2015, my teenage daughter Tia crafted a spectacular, life-sized poodle out of feminine hygiene products.
“It’s a tampoodle,” she told me.
She made this, uh, artwork as an audition piece—to showcase her creative skills, as a tryout for an elite team in some kind of national scavenger hunt. (She made the team.)
I thought the tampoodle was cute. I thought it was great fun that Tia was joining some kind of scavenger hunt.
I had no idea what kind of ride was ahead.
When most people think of a scavenger hunt, they probably imagine the list of items includes, you know, “Get the dean’s signature” or “Find a dog with a curly tail.”
GISHWHES is not that.
It stands for theGreatest International Scavenger Hunt the World Has Ever Seen.(Its creator acknowledges GISHWHES may be the Ugliest Acronym the World Has Ever Seen.)
Teams of 15 have one week to complete about 200 extremely difficult or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to some exotic location with Misha Collins, the hunt’s founder.
Sample items from past GISHWHES lists:
• • Do a dramatic reading of your grade-school report card.
• • Find someone you love and butter them up—literally. Cover them in butter and then give them a big hug.
• • Glaciers are melting—so act accordingly. Pose at a major glacier wearing a swimsuit with floaties.
• • Have a tea party with a pediatric cancer patient, where you’re dressed as a character from “Alice in Wonderland.”
• • Tour a sewage treatment plant dressed in formal attire with an accompanying violinist or flutist.
• • Get a child to write a letter to the universe. Launch the letter into orbit.
• • Film an erotically charged conversation between a housewife and pizza delivery man. The actors can ONLY talk about grammar and fonts.
What astonished me is what a big deal GISHWHES is. Last year, 55,000 people registered to participate—not including all the friends and family members who lent favors, assistance, and props. (Registration for this year’s hunt opens this week.)
GISHWHES holds seven Guinness World Records, including Biggest Media Scavenger Hunt, Largest Online Photo Album of Hugs, Longest Chain of Safety Pins, Most Pledges for a Charitable Campaign, and Largest Gathering of People in French Maid Outfits. (Why is there a Guinness record for Largest Gathering of People in French Maid Outfits!?)
But in the end, GISHWHES is an event that does good in the world. Over the years, GISHWHES list items have persuaded players to a) raise over $1 million for charity, b) donate hundreds of thousands of pints of blood, c) volunteer at soup kitchens, d) register thousands of citizens to vote, and e) register to become bone-marrow donors. (That last item has already saved two lives, according to GISHWHES producers.)
And the 2016 hunt raised $250,000 to buy homes for five Syrian refugee families.
So yes, GISHWHES is a do-gooder enterprise. But it’s also brilliantly clever, gut-bustingly funny, and positively unforgettable.
So my question is: Why haven’t people heard of GISHWHES? Why isn’t it a culturalthing?
Why isn’t it, at the very least, a reality show? It’d be the most entertaining show on TV.
Well, if you want something done right, you have to do it yourself. With the tolerance of my superiors at Yahoo, I decided to make myowndarned reality show. Above on this page is Episode 1 of a five-part series.
Part 1 •Part 2•Part 3•Part 4•Part 5
GISHWHES was created, and is run to this day, by TV actor Misha Collins, a costar of the CW series “Supernatural.” (His heartthrob status helps explain why GISHWHES participants are predominantly female.)
“I went to the University of Chicago,” he told me. “The University of Chicago has a scavenger hunt that we call Scav, that has been running about 30 years now. It took place over the course of a long weekend. We would completely abandon our academics and our sense of decency for those three days, and go all-out for this scavenger hunt. And I loved it. I actually think that it was one of the most educational aspects of my college experience, and infused with the most joy.”
Years later, after a decade of struggling as an actor in Los Angeles, Collins finally landed a show. “I got on this TV show ‘Supernatural,’ and I developed a little bit of a fandom following, and I started to notice that there was a high level of creative engagement from our fans. That got my wheels turning. What can I do with this? How can I have fun with it?”
Collins’s first side project with his fans wasa charity called Random Acts. “We’ve done some pretty big projects. We built an orphanage in Haiti; we’re finishing building a high school in Nicaragua right now. But we also do myriad smaller projects all over the world—as small as bringing roses into a senior citizen home.”
Then, in 2009, as a lark, Collins ran a little scavenger hunt from his Twitter account. About 300 people participated; they were instructed to photograph their submissions and send them to an email address that Collins set up.
“People engaged in it with an enthusiasm and a committedness that I could not’ve anticipated,” he says now. “I remember sitting in my apartment, looking at the submissions that had come in, and thinking, ‘This is amazing!’ The art people were creating, the tasks that I thought were impossible that people were pulling off—! I remember, ‘This is what I wanna do for my life’s work. This is awesome.’”
And so, in 2010, GISHWHES was born.
For the 2016 hunt, I embedded myself with my daughter’s GISHWHES team for the week. I filmed their efforts and followed their frustrations and joys. In the coming episodes, you’ll get to meet them—and you’ll get go to inside world’s biggest scavenger hunt.
Part 1 •Part 2•Part 3•Part 4•Part 5
More from David Pogue:
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || What US ETF Market Looks Like Today: It was just 24 years ago that the first ETF, the SPDR S&P 500 (SPY) , came to market—ETF No. 1. Now, with 51 new ETF launches having already occurred this year, we are about to hit a milestone: 2,000 ETFs listed in the U.S. These funds already command more assets than hedge funds in an asset base that grows about 20-25% yearly. With nearly $3 trillion in assets in U.S.-listed ETFs alone, some are already projecting the size of the market to double by 2020. If you talk to those who were part of the ETF industry’s early days—people like State Street Global Advisors’ Jim Ross and iShares’ former head Lee Kranefuss , you get a sense that no one would have guessed ETFs would take off as they did, and reinvent the way investors access the market. “The growth of ETFs in U.S. capital markets is a textbook case study in ‘Disruptive Innovation,’ right alongside well-known historical examples like Amazon, Google, Facebook, Netflix and scores of others successful enterprises,” ConvergEx Nick Colas said in a commentary this week. “It is no exaggeration to say that there are more ETFs than investable stocks listed on U.S. exchanges.” Today’s market definitely looks very different from its early days. The era of plain-vanilla products designed around well-known equity indices is giving way to a wave of innovation that has ETFs tapping into broad, diverse and niche pockets through various strategies today. Here’s a broad overview of the market’s makeup, with data courtesy of FactSet: Asset Class Equity ETFs dominate in numbers and in assets. Roughly 70% of all U.S.-listed ETFs are equity funds—or some 1,385 ETFs in the market today. These U.S. and/or international equity ETFs have about $2.2 trillion in combined assets. That amounts to 78% of all U.S.-listed ETF assets, or nearly $8 out of every $10 invested in ETFs today. Investors have plenty of choices when it comes to equity ETF exposures. The biggest of these funds are all focused on U.S. stocks, led by SPY, with $233 billion in assets. IVV comes at No. 2, with $103 billion; and VTI at No. 3, with $76 billion. Those three ETFs alone represent about 25% of assets specifically in U.S. equity ETFs, and 19% of all assets tied to equity ETFs, either domestic or international. Story continues Fixed income ETFs —the second-largest asset class in this industry—command about $490 billion in total assets, the bulk of which is in U.S. fixed-income funds. This is a segment of the market that’s still growing. There are only 317 fixed-income ETFs on the market today, which represents about 16% of all U.S. ETF listings. Many see fixed income as a still-opening-up frontier for more ETF innovation. The remainder of the market is split into smaller slices: Alternatives ETFs represent about 2.6% of the total market; asset allocation ETFs 2.2%; commodity ETFs 5.7%; and currency ETFs 1.5% of the total number of U.S. ETF listings. Smart-Beta ETFs Market-cap-weighted strategies were the first, and remain the largest number of, funds in the market. But it’s smart-beta funds that are driving asset growth and product innovation. Smart beta goes by many names—some call it strategic beta, fundamental indexing, factor investing and more. But the ETFs in this category are simply rules-based strategies that aim to deliver better risk-adjusted returns than traditional market-cap-weighted indexes. They apply different selection screens, and weight securities in different ways to deliver a spectrum of results. Today there are roughly 800 smart-beta ETFs on the market—that’s four out of every 10 ETFs in the market—and funds falling under this rubric represented roughly half of the ETFs that launched last year. Among equity ETFs, nearly half are some flavor of smart beta today. In the fixed-income space, where active management is still widely accepted, smart beta has been slower to find a following—only about 9% of all fixed-income ETFs today are smart-beta funds. Costs ETFs have always been known for their low cost, and ongoing fee compression keeps pushing price tags lower. The cheapest ETFs on the market today carry a mere 0.03% expense ratio—that’s $3 per $10,000 invested. They are: Schwab U.S. Broad Market ETF (SCHB) Schwab U.S. Large-Cap ETF (SCHX) iShares Core S&P Total U.S. Stock Market ETF (ITOT) These are all vanilla strategies, and as the market moves more toward smart-beta approaches, expense ratios have averaged higher because the more complex a fund is, the more it usually costs. But even in the smart-beta segment, fee compression is real. The cheapest smart-beta ETFs today have 0.04% expense ratios—a pair of Schwab growth and value funds that use a multifactor selection process to pick securities, which are then market-cap-weighted in the portfolios. Most ETFs today have expense ratios between 0.3% and 1.0%. But there are funds that come with hefty expense ratios. There are 22 ETFs that have expense ratios of more than 2%, and the most expensive ETF has an ER of 9.20%—that’s $920 per $10,000 invested. It’s the VanEck Vectors BDC Income ETF (BIZD) . ETF Issuers Roughly 82% of all U.S.-listed ETF assets are managed by three single ETF issuers—BlackRock’s iShares, Vanguard and State Street Global Advisors. iShares’s dominance is uncontested, as the firm alone commands about $1 trillion of all ETF assets in the U.S. But there are a growing number of ETF issuers, with new firms looking for ways to join the bandwagon as investors demand access to the ETF wrapper. Today we count nearly 80 ETF issuers in all, each trying to find their niche in a market that’s increasingly diverse. At the end of the day, the number of ETF launches—which outpaces ETF closures year after year—and the continued entry of these new ETF players, suggest that 2,000 ETFs with nearly $3 trillion in the U.S. alone may very well be just the beginning for this “disruptive innovation” of an industry. Contact Cinthia Murphy at cmurphy@etf.com Recommended Stories Bogle’s Recipe For Active Manager Survival Don’t Choose An ETF Based On Fees Alone Socially Responsible Dividends In An ETF Running An Index ETF Is Harder Than It Looks SEC To Review Decision Denying Bitcoin ETF Permalink | © Copyright 2017 ETF.com. All rights reserved || 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 || The Fintech World Series: Canada: By: Kurtosys Harvest Exchange February 28, 2017 The Fintech World Series: Canada Canada featured image Fintech is exploding. It is a global industry, striving to change the future of finance. …And the future is now. At Kurtosys, we’ve set out to cover exactly what’s happening in the financial industry the world over, one country at a time. With so many places contributing to the advancement of our digital world, each deserves their own time in the spotlight. This time, heading away from Europe, we’re travelling to Canada . Whilst neighbouring the fintech giant that is the United States, this North American behemoth is steadily boosting its reputation of having one of the most secure banking systems in the world. Read on to discover how this affects their up-and-coming fintech landscape. With a country boasting such incredible musical talent as Justin Bieber, Nickelback and Avril Lavigne, it was naturally going to be on our fintech radar, eh? But seriously, Alexisonfire are awesome, and Canada was actually named by accident, when French Explorer Jacques Cartier mistook a native term for village – ‘kanata’ – for the country’s name as we see it today. It is a land that has birthed such funny people as Jim Carrey, Mike Myers and Leslie Nielsen, and big-time serious actors such as Malin Åkerman and Ryan Gosling*, with the latter achieving early stardom in Canadian cult-classic TV show Goosebumps . The less said about that the better. More should be said, however, about Canada’s rise to fintech prominence. <html><body><img alt="Canada fintech infographic" class="alignnone wp-image-50082 size-full" height="1000" sizes="(max-width: 1424px) 100vw, 1424px" src="http://hvst.co/2lutK7T" srcset="http://hvst.co/2lutK7T 1424w, http://hvst.co/2luyvhF 300w, http://hvst.co/2luESRW 768w, http://hvst.co/2mp0pzB 1024w, http://hvst.co/2luD7nP 225w" width="1424"/></body></html> Story continues According to a post in the Canadian publication The Globe and Mail, outside the technology life-blood of Silicon Valley, Canada’s province of Ontario (home to cities including Toronto, Ottawa and Hamilton) has among the highest concentrations of technological firms. The reason for this being its low costs, and the universities in the Toronto and Waterloo area being abound with graduate engineers and developers. Deloitte awarded Canada a global financial centre rank of 21 in 2016. There has recently been investment from both the financial and technological industries. Of note, Goldman Sachs invested in Financeit (based in Toronto, offering businesses a platform for customer payment plans) in 2015, as well as nanoPay in 2016, a “frictionless payments” service, also based in Toronto. Elsewhere, one of Japan’s world leading tech services companies NTT Data Corp has announced a partnership with MaRS Innovation lab (more about them later on), promising to support Canadian startups whose technologies can be used by NTT. Two notable startups from Canada that have achieved success are Shopify – a cloud-based e-commerce company that designs software for online stores for SMEs, founded in 2004 – and Hootsuite, a social media management platform used by over 15 million people, founded in 2008 in Vancouver, which similarly has a thriving fintech ecosystem like the cities in the East. Benevolent Banking Despite the global financial crisis of 2007/08, Canadian banks remained unscathed according to the Canadian Bankers Association; none were in danger of failure or were bailed out. In fact, Canada’s banks have been rated amongst the soundest in the world for the past 10 years, rated highly due to them being well capitalised, managed and regulated. Should a similar crash occur in the future, each bank has developed “recovery and resolution plans” already – ahead of the curve. Plus, the development of regulatory frameworks for banks and insurers is being handled by both domestic and global organisations, so Canadians are clearly remaining resolute to keep their well-earned ‘sound banking’ tag. The largest banks in Canada are referred to as the ‘Big Six’ by a report from PWC, and are as follows: Bank of Montreal (BMO) Scotiabank Canadian Imperial Bank of Commerce (CIBC) National Bank of Canada (NBC) Royal Bank of Canada (RBC) Toronto-Dominion Bank (TD) As well as these established financial institutions, there is also the presence of online disruptor banks, which include Tangerine, PC Financial and Canadian Tire Bank. However, in 2014 it is noted that these banks only accounted for 3% of Canadians’ total deposits. Are digital financial companies still very much in the shadow of major banks, who retain brand recognition and consumer trust? Peter Aceto, CEO of Tangerine, believes that there is a social revolution occurring within the financial industry, with consumers losing trust in major banks and “expecting experiences that simplify their lives, that makes things easy”. Tangerine was the original disruptor bank that launched its first branchless bank in Canada. Truly, banks are responding to this revolution that Aceto outlines, and it turns out that many are making heavy investments in technology to “transform their customer experience, automate processes, comply with regulatory demands and enhance digital capabilities”, with many beginning the enablement and implementation of APIs. Despite the regulators’ tendency to aim for stability (thus halting market innovation), Canadian fintech is still pushing to gain momentum. There are already more than 80 fintech firms in Canada, with the GTA (Greater Toronto Area)-Waterloo and Vancouver areas being the sites for a concentrated ecosystem of major banks, universities and tech startups. Whilst pension plans have recently attracted the most significant fintech investments, more is needed from the government, private investors and banks. To put things into perspective, since 2010 the Canadian fintech community attracted C$1 billion in capital since 2010. In 2014 alone, US fintech had US$9 billion. One Canadian dollar is roughly equivalent to 70 cents. Canada-Moose Friend or Foe? There is evidence from the Digital Finance Institute that Canadian banks are developing their own fintech solutions in-house. The Royal Bank of Canada is one example, but it also works externally as part of the US-based R3CEV-blockchain tech consortium. Additionally, the Big Six are in fact co-operating with fintech startups, accelerators and incubators to further their digital re-invention. Here are the most prolific examples of internal and external fintech stories: BMO In 1996, it launched Mbanx, the first direct-to-customer bank. On January 16 2016, it launched SmartFolio, a digital portfolio management service, competing with traditional players and robo-advisers, built in-house with assets of $20 billion. It introduced Touch ID log-in (fingerprint recognition) to its BMO mobile banking app in Canada and the US. In the US, Mobile Cash was made available, allowing the withdrawal of money via smartphone. The BMO Banking and InvestorLine portal makes BMO the first Canadian bank to give customers access to personal banking and investments accounts in one place. BMO DepositEdge in Canada allows businesses to deposit cheques remotely. BMO Spend Dynamics gives corporate card clients access to transaction data. Scotiabank Invested in Kabbage, a US-based online small business lender. Has an internal Digital Factory focused on tech and mobile banking. Supposedly looking to partner with more external fintech startups. CIBC Partnered with MaRS in 2015. Partnered with Thinking Capital, another online small business lender. NBC Developed a new marketing model, with segmented marketing campaigns with more personalised offerings, supported by data analytics teams, tech and tools to enhance tailored services for sales teams. Developed an Android and iPad tablet app, the latter ranking #1 in the financial services category. Planning to develop optimised tools for access to products and services and to implement a customer relationship management platform. RBC Partnering with Nymi Wristband Technologies. Partnered with mobile-app-giant Uber for loyalty rewards. TD Established an innovation lab at Communitech. Partnered with Moven, a mobile personal financial management platform. Looking to collaborate on a tech solution for improved customer and employee experience in Cisco’s Toronto Innovation Centre. Gosling-painting To Vancouver & Beyond In the Digital Finance Institute (DFI) report, there is a further stress on fintech development in the province of British Columbia, so much so call that it is hashtag-worthy (much like in Estonia) – #BCTECH. The city of Vancouver is the main focus, as it houses some of the leading tech companies (Microsoft, EA, Amazon), as well as important fintechs, including Samsung Pay and SAP. Unsurprisingly, it is also the home of the DFI, which organises workshops, conferences and institutional education to bring Canadian fintech to the world, is a think tank for fintech and AI, encourages investment and partners for balanced regulation of digital payments and remittances. Vancouver was actually home to the world’s first Bitcoin ATM in 2013, and by June 15 2015, there were 60 Bitcoin ATMs across the whole of Canada. What else? Vancouver-based Central 1 Credit Union provides fintech services to financial institutions such as payments and mobile banking services. The DFI notes that “the geographical position of Vancouver gives it an unparalleled advantage for trade and importantly, for FinTech to scale and exit not only to Asia but increasingly, to the Middle East.” In British Columbia as a whole, the tech industry generated over $23 billion in revenue in 2013 and the Government of British Columbia recently launched the #BCTECH Strategy, investing $100m as part of a BC Tech Fund for early tech startups, and a Knowledge Development Fund to enable research projects. As a whole, the FinServ industry in Canada only represents 27% of the Internet of Everything market, but 60% of Canadians are prepared to move money to access one or more IoE capabilities. All Canadian provinces have adopted regulations to facilitate e-commerce and protect e-payments, with the Bank of Canada having “responsibility for regulatory oversight of clearing, settling and recording of financial transactions.” Additionally, the Large Value Transfer System and Automated Clearing Settlement System are national systems for clearing and settlement of payments, operated by Payments Canada, based in Ottawa. This, and the DFI, have launched national startup challenges. “The FinTech Cup”, for example, awards its winners with a $25,000 prize, and are provided a national startup platform to support their development. The private sector launched the annual Fintech Awards in 2015 to recognise key fintechs, innovators, advisors, and stakeholders that have contributed to the fintech ecosystem. In 2016, the Fintech Association of Canada was launched to engage the government with fintech to attract further investment and innovation. Vancouver To get an idea of just how expansive Canada’s fintech ecosystem is, here’s a comprehensive list for your viewing pleasure: Investors & Accelerators Business Development of Canada (BDC) – Offers financing advisory services and venture capital, dubbing itself the “only financial institution dedicated exclusively to entrepreneurs”. Omers Ventures – Omers is one of Canada’s leading pension funds with $65billion + in net assets. It provides resources and expertise to tech, media and telecommunications startups. Power Financial Corporation – A management and holding company. MaRS Innovation lab – Based in Toronto, it supports over 1700 startups, with 300 being fintech-based. It has raised over $700m in venture capital funding. Communitech – Based in the Waterloo area, it is an industry-led innovation centre and a private-public partnership, founded in 1997. Ryerson DMZ – In Toronto, this is the top university business incubator, with entrepreneurs-in-residence, industry mentors, and 250+ startups and industry connections. OneEleven – A Toronto-based, data-driven tech startup scale-up hub, founded in 2013. Thinkubator – A collaboration between Ryerson University and Tangerine, it is an incubation space for fintech startups, founded in 2016. Startups Wealth management solutions & Robo-advisors Nest Wealth – Founded in Toronto in 2014, it is Canada’s first online wealth manager. Smart Money Invest – Also founded in 2014, it offers portfolio management services in equity and bond ETFs. Wealthsimple – An online investment startup, which expects over a billion dollars in AUM this year. It has 15,000 clients in Canada. It also offers “an affordable, millennial-focused, automated investing service”. Power Financial Corporation invested $10m in Wealthsimple. ModernAdvisor – an online financial advisor. If you would like to read more about Canadian robo-advisors, you can read our interview with ModernAdvisor’s Krysten Merriman here. Payments In 2014, 21% of Canadians made at least one online payment in the past six months (compared to 83% in China and 33% in the US). In 2015, the Canadian mobile payment transaction market grew 210%. Moneris – Founded in 2000 in Toronto, it offers payment solutions and processes credit and debit card transactions (more than 3 billion a year). VersaPay – With its HQ in Vancouver and founded in 2006, it is a cloud-based payment processing service. TIO Networks – Founded 1997 in Vancouver, it was acquired by PayPal very recently in Feb 17. It offers a bill payment service. Payfirma – Based in Vancouver, and founded in 2011, it is a multi-channel payment platform (mobile, in-store, online and e-commerce). Investment & Asset Management Voleo – A social trading app, allowing the user to build an investment team with peers and collaboratively manage a portfolio. FrontFundr – Founded in Vancouver in 2013, it is a registered financial services firm which connects investors and entrepreneurs Here are Canadian startups that made it into the KPMG Fintech100 2016… #36 – League – Toronto-based, founded in 2014, it lets employers enable employees with health spending accounts and group insurance plans on a mobile app platform, plus you can find health professionals. It uses a digital wallet for payments. #42 – SecureKey – Founded 2008 in Toronto, it is an identity and authentication platform for online consumer services. …And the ‘Emerging stars’: Grow – Founded in 2014, it is a “complete fintech toolkit” for financial institutions, mainly focused on consumer and SME lending. North Side Inc. – A financial AI solution, letting you talk directly to your financial institution, a “personalised virtual telephone banker”. Overbond – Founded in 2015, this Toronto-based startup brings bond market participants together, making bond issuance secure and transparent. You’ve made it – a list as extensive as Canada itself (did you know that it spans 6 time zones? Crazy). Seemingly, if Canadian banks and financial institution are willing to allow for innovation besides their stringent (albeit successful) regulations, then the pre-existing fintech ecosystems in the GTA and British Columbia combined will be able to move ahead with full force. A fintech revolution to match the size of its home. *Credit to a good friend of mine for the incredible painting of Ryan. If you have any thoughts about Canadian fintech, let us know in the comments below, or you can tweet us. Check back soon for more instalments of The Fintech World Series! The post The Fintech World Series: Canada appeared first on Kurtosys Blog. http://hvst.co/2luINyh Originally Published at: The Fintech World Series: Canada || 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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• Donald Trump: U.S. Dollar Is 'Too Strong'
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency.
Let's recap what has been going on in the bitcoin market so far this year.
Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading.
Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges.
Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price.
All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart:
(Investing.com)
The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above.
What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level.
And while that hasn't happened yet, there is another troubling sign that's popping up on the charts.
(bitcoinity.org)
Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up.
So where is bitcoin headed?
If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop.
NOW WATCH:7 mega-billionaires who made a fortune last year
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• Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF
• Bitcoin super spikes to an all-time high
• Bitcoin makes a big comeback || 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 || 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)
[Random Sample of Social Media Buzz (last 60 days)]
BitRegion運用112日目配当 1.00％回収率 157.66%http://bitregion.com/promo/got-bitcoin/cazushi3939 … #bitcoin #ビットコイン #投資 #HYIP #副収入 || 1 BTC Price: BTC-e 1097 USD Bitstamp 1129.27 USD Coinbase 1132.00 USD #btc #bitcoin 2017-02-23 02:30 pic.twitter.com/kLNCNhPX3a || L BTC: R14592.00<L+ | CB->
CB BTC: R13773.87 ($1096.27@12.56)
CB BTC: R13889.35 (£878.35@15.81)
Delta USD: 5.61% | GBP: 4.82% || Палю тему, облачный майнинг USD, #Bitcoin #Litecoin, Dogecoin - 100.00 Gh/s в подарок на халяву http://goo.gl/dx7a0N || #bitcoin Op-ed: Portugal, Just Like Any Other Country, Needs Bitcoin https://goo.gl/V5lWhN http://ohiobitcoin.com/buybitcoin #bitcoin || 1 #BTC (#Bitcoin) quotes:
$1092.11/$1093.00 #Bitstamp
$1112.00/$1112.35 #BTCe
⇢$19.00/$20.24
$1091.02/$1102.57 #Coinbase
⇢$-1.98/$10.46 || The latest Bitcoin Price Index is 1,190.00 USD http://www.coindesk.com/price/ pic.twitter.com/bs5RTpqv7S || El precio del bitcoin es de US$ 1273.00. #bitcoin #btc || 1 KOBO = 0.00000340 BTC
= 0.0039 USD
= 1.2285 NGN
= 0.0506 ZAR
= 0.4031 KES
#Kobocoin 2017-02-23 12:00 || 951.197 Eur | +1.69% | Kraken | 23/03/17 00:03 #Bitcoin
|
Trend: up || Prices: 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48
|
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 2020-04-06]
BTC Price: 7271.78, BTC RSI: 57.15
Gold Price: 1677.00, Gold RSI: 60.25
Oil Price: 26.08, Oil RSI: 42.50
[Random Sample of News (last 60 days)]
Is bitcoin's 2020 rally another flash in the pan?: By Tom Wilson
LONDON (Reuters) - Crypto analysts are split on whether bitcoin's rise this year is driven by unique factors or is just its latest bout of volatility. But many agree on one factor: an upcoming cut to the supply of bitcoin.
Bitcoin has soared by almost half this year, to more than $10,000, for the first time since October. On Tuesday it hit its highest in five months.
The cryptocurrency's 11-year history is replete with fast ascents and equally rapid plunges. In late 2017, it rose three and a half times in just 35 days to reach almost $20,000. It then slumped 70% in seven weeks.
Such wild and often inexplicable swings are why bitcoin faces a struggle to become a functioning currency.
This time around, some market players point to a confluence of drivers not seen before. Arcane tech factors, expectations for mainstream acceptance and macroeconomic trends are leading markets to look again at bitcoin's worth, they say.
"You can argue that there is a fresh valuation going on," said Russ Mould, investment director at AJ Bell, a stockbroker that oversees assets worth $71 billion.
Most fundamentally, many cite growing demand for bitcoin before its latest "halving" -- a 50% cut in the production of the cryptocurrency due in May that is one of the few observable events known to materially impact price.
A rule written into bitcoin's underlying code slashes the number of new coins awarded to the miners behind the global supply of bitcoin.
In the year after the two previous halvings, in November 2012 and July 2016, bitcoin rose around by 80 times and four times respectively. The exact proportion of the gains caused by the halving is unclear.
"It's a rare observable factor - if you look at previous events, in each case there has been a quite clear and discernable spike in the value of bitcoin," said Windsor Holden, a payments consultant who tracks crypto and blockchain.
GRAPHIC - Bitcoin's Halving: https://fingfx.thomsonreuters.com/gfx/mkt/13/2066/2034/Halving%20Graphic.png
"HYPE CYCLE"
But others doubt bitcoin's latest rally is underpinned by anything more substantial than the previous booms.
"The recent rally has been driven by the usual hype cycle that we have very reliably seen every two to three years," said Michel Rauchs, author of several Cambridge university studies on cryptocurrencies and blockchain tech.
"We have these mini-bubbles, and the momentum that it creates - bitcoin first, then these other coins. It's a self-fulfilling prophecy."
Major cryptocurrencies that tend to move in correlation with bitcoin have also gained this year. Ethereum has more than doubled; Ripple's XRP token is up over 75%.
Other factors cited for the rally, such as greater demand for assets uncorrelated to mainstream markets following the U.S. killing of an Iranian military commander last month, are also questionable.
Bitcoin's "safety" characteristic is unclear. It has regularly fallen in times of geopolitical stress in recent years.
Looser central bank policy is also given as a reason bets on riskier assets. But that link is hard to prove, too. Bitcoin has fallen during previous spells of easy money.
DIGITAL DOLLAR?
Also widely cited are expectations that cryptocurrencies will go mainstream, as central banks step up their research into digital currencies after Facebook's push to offer its Libra coin. Some, such as China's, are getting closer to issuing their own coins.
And in comments that traders said stoked buying in bitcoin, U.S. Federal Reserve Chairman Jerome Powell told U.S. lawmakers on Tuesday that the Fed was "working hard" on the issue, while it remained undecided on any digital dollar.
Central bank interest is also problematic as a reason for bitcoin's rise, Rauchs said.
"People tend to mix up and conflate these different concepts that are actually fundamentally different from one another," he said. "This creates a bubble where you conflate everything together and everything appreciates."
Still, in the short term, crypto traders interviewed by Reuters said, the cut to the supply of bitcoin was likely to loom largest for investors.
"Things are aligning," said Jamie Farquhar, portfolio manager at crypto firm NKB Group. "But the real thing that people are looking at is the halving."
($1 = 0.7713 pounds)
(Reporting by Tom Wilson, editing by Larry King) || Blockstack Wins Patent for Its Dapp Single Sign-On Product: Blockstack, the control-your-data decentralized web developer, has patented the process behind its single sign-on for every dapp system, Blockstack Auth. The patent covers Blockstack’s method for cryptographically signing into dapps with a single digital identity, without requiring a third party to authenticate. The system received USPTO’s approval on March 24 following an uncharacteristically short eight month wait – most applications sit for about 32 months, according to Erickson Law Group – and exactly three years after Blockstack’s 2017 release of the Auth developer version . Related: Microsoft Files Patent Application for Crypto Mining System Powered by Human Activity Blockstack Auth aims to be Web 3.0’s one-password-to-rule-them-all, the patent documents show. It’s functionally similar to Google and Facebook’s massively popular one-click sign in processes that integrate with hundreds of thousands of websites. “But the underlying data flow is unlike” the big tech’s OAuth protocol-reliant authentication services, the patent description reads. Those third-party platforms remove user control by checking all information against their centralized servers. Serverless Blockstack Auth gives it back – through public key cryptography. The process works by exchanging JSON web tokens between the dApp and the Blockstack browser. At sign in, the dApp generates an “ephemeral transit key” whose public portion it sends to the browser through an “authRequest” token. The browser in turn encrypts an “app-private key” with that public portion, which it then returns to the dApp in an “authResponse” token. “This inventive realization obviates the need for a server-side identity provider,” the patent read. Related: Torus Launches to Bring One-Click Login to Web 3.0 The patent’s language is at times nearly identical to Blockstack’s March 10, 2020, explainer article on Blockstack Auth, with verbatim subheadings and subtle differences attributable to the less declarative voice with which applicants write submissions. Story continues (For example, the patent reads: “These tokens can be related to JSON Web Tokens (JWT), and they can be passed via URL query strings,” whereas the GitHub-editable March 10 explainer reads: “These tokens are JSON Web Tokens, and they are passed via URL query strings.”) Open source , closed ownership The granting, Blockstack’s first, gives legal clout to the Public Benefit Corporation’s universal login tool for the decentralized web. But intellectual property rights bring more than just legal protection for the GitHub-loving Blockstack. It also prompts thorny questions about partitioning off ideas in a space, and by a company that claims to put open-source at the “heart of everything we do.” Two days after the patent’s issuance, Blockstack CEO Muneeb Ali opened a forum to discuss “Blockstack PBC and patents.” CoinDesk was directed to the forum after reaching out to Blockstack for this story. “We don’t want to be in a position where some other (large) company files a patent similar to the work PBC and the community is doing,” he wrote, pointing to the “recent surge” of big tech companies, such as IBM, that file seemingly endless reams of blockchain patent applications. Ali wrote that Blockstack may file patents on its core team’s efforts – purely for “‘defensive’ reasons.” He left the door open on transferring patents to the independent Stacks Foundation, procuring a defensive patent license, or even pledging to never initiate enforcement, as Tesla did in 2014 . The discussion partially answers questions raised in November 2017, when Twitter user @lightcoin, who had come across a separate Blockstack patent still waiting for approval, called on the firm to explain its patent strategy. “Patents are like nuclear weapons: the best way to prevent them from being abused is to not create them in the first place,” @lightcoin said . At the time Ali said Blockstack had to stake its claims before others did. He promised to “post about our future patent strategy” at a later date. The debate is similar to one crypto exchange Coinbase faced. CEO Brian Armstrong said in the past that he believes “patents should be abolished” but, like Blockstack, sees it as necessary to build a portfolio for “defensive” reasons. Related Stories Muneeb Ali Explains Blockstack’s Big Bet on Bitcoin Blockstack’s New Consensus Mechanism Creates New Use Case for Bitcoin || Bitcoin Closing on Daily Golden Cross That Could Bring Boost to 2020 Price Rally: • Bitcoin’s (BTC) short-term and long-term daily moving averages look likely to converge soon, creating the potential for a daily golden cross, a bullish pattern not seen for nearly 10 months.
• The 14-day relative strength index is registering near-overbought conditions, a possible sign of buyer exhaustion that may see a short-term pullback.
• The weekly chart indicates strong buyer momentum after breaking out of a 203-day descending channel on Jan. 20.
• Bull bias would be aborted with a firm close below $9,706, an area of major bullish gains previously.
Bitcoin may see a move higher in coming weeks, courtesy of two major daily moving averages heading for a collision dubbed a golden cross.
The cross occurs when a short-term moving average (MA) crosses above a longer-term one, typically the 50-day and 200-day MAs, hinting at strong upward momentum in an assets price.
The last time such an instance occurred was back in April 2019, when the price of BTC rose 175 percent to create a yearly high of around $13,880 after a temporary pullback to $4,995, Bitstamp data shows.
Related:From Crypto Self-Custody to Music Rights, This Mother-Daughter Dev Team Does It All
Therefore, if history repeats, BTC could be in for a short-term drop before making its way to a new high for 2020.
The convergence of the two key MAs are an indication of strong buying pressure as BTC continues to post positive gains year to date. Bitcoin is up 43.5 percent since Jan. 1 and up 175 percent year on year from the Feb 14, 2019, close of $3,560.
However, the golden cross will need a sustained positive follow-through or the odds of a deeper pullback may rise.
Supporting the potential for short-term losses, the 14-day relative strength index (RSI) – an indicator used to judge the momentum of a given trend – is currently indicating near overbought conditions with a reading of 67.2. A value of 70 and above represents overbought, while 30 and below hints at an asset being oversold.
Related:For Crypto Miners, Bitcoin’s Halving Could Mean a Doubling in Costs
Additionally,yesterday’sbearish engulfing candle opened the doors for another test of $10,000. The temporary pullback could be extended if prices fall beneath the $10,000 psychological resistance, exposing $9,867, a region of former hourly resistances.
Overall, price action has been trending bullish, as demonstrated by a weekly price breakout on Jan. 20 from the almost seven-month descending channel, beginning late last July.
The 50-period MA on the weekly chart (yellow line) has been signaling bullish momentum when prices have remained above it, as seen in 2017 and the first quarter of 2018. Prices remained bearish below throughout the latter half of 2018 and all of 2019, indicating weaker buyer demand.
Prices remain firmly above the 50 MA, hinting at greater buying power ahead of the expected bullish “halving” event in May 2020, a supply cut programmed into bitcoin’s code that sees miners’ rewards reduced by 50 percent.
The mid-term bullish view would be compromised should prices drop below $9,706, the level of a major bullish engulfing candle on Feb. 11. That could upset the prospects for the incoming daily golden cross and a continued rally to new 2020 highs.
Disclosure:The author holds no cryptocurrency at the time of writing.
• US DOJ Calls Bitcoin Mixing ‘a Crime’ in Arrest of Software Developer
• Here’s How to Inspect Bitcoin’s Next (Likely) Major Upgrade Yourself || Never Mind Hodlers, Crypto Needs More Opportunist Investors: Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities.
Carl Icahn is famous for moving in and out of asset classes. This is quite different than how most asset managers and professional investors invest, who are generally locked into an asset class based on specific mandate, and are therefore forced to try to make something out of whatever is available to them, even if the opportunity set isn’t great. While some may label Icahn an activist investor, or a vulture investor, he’s actually more appropriately labeled as an “opportunist,” which is to say he isn’t just an equity guy or a bond guy or a real estate guy. Icahn has famously said,“My investment philosophy, generally, is to buy something when no one wants it.”
The crypto markets to date have been dominated by crypto-native investors. There is very little cross-asset ownership largely because the infrastructure is totally different. Crypto investing doesn’t fit with traditional investor mandates, nor does it fit within the work flows of traditional banks, prime brokerages, exchanges or algorithms. This is slowly changing with the entry of traditional financial powerhouses to the digital assets space like Fidelity, CME and NYSE, but this asset class is still largely foreign and unappealing to the majority of investors.
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Crypto needs investors to come and go who aren’t solely crypto investors.
That said, a lack of full attention has its advantages. When one isn’t focused day to day on the equity markets, it is often easier to see one or two data points, interpret the data and make clear and objective decisions. For example, 2019 earnings were incredibly weak, and the majority of stock gains were via multiple expansion and central bank balance sheet growth. As a non-equity investor, this seems like a better time to sell than buy.
Similarly, if you’re not focused every day on digital assets and were presented with just the facts right now regarding supply and demand, adoption and monetary policy, you might conclude the current macro environment iscreating the perfect storm for owning certain digital assets. We see this dynamic play out all the time in traditional markets. In 2008, many value investors moved away from equities and into corporate bonds, and distressed debt investors largely moved into bank debt and mortgages. In 2012, many U.S. bond investors moved into European bank loans. And from 2015 to present, just about everyone has rotated into equities.
Similarly, crypto needs investors to come and go who aren’t solely crypto investors. This asset rotation and opportunistic investing will help the market find equilibrium at both market tops and bottoms, helping to reduce the crazy highs and the depressing lows historically associated with this asset class.
Related:No, Concentration Among Miners Isn’t Going to Break Bitcoin
Easier said than done of course, but we are beginning to see this happen in real time. Those not in the market full time are starting to cherry-pick just like Carl Icahn. Ark Invest, which famously became the first public fund to invest inbitcoin(BTC), seems to be fund doing just that. A quick look at its latest 13-F filings show the firm has historically bought bitcoin on price dips (throughout 2018), sold at market peaks (June 2019) and has recently added back at market lows (December 2019).
Right now, crypto continues to largely be an isolated, and oft-ignored, section of the financial ecosystem. Perhaps the bitcoin carry trade (similar to the yen carry trade in 2013) will be one catalyst that brings new players into crypto, or maybe a declining bond and equity market will lead to asset rotations.
Regardless of how it happens, this will be the next step before digital assets can truly take off and become mainstream.
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• Don’t Obsess Over Crypto End Users, We Still Need Developers to Build the Back End || XRP loses 10% as cryptocurrency market struggles: XRP, the third-largest cryptocurrency by market capitalization, has lost a further 10.14% in the last day to fall back to just $0.273.
Today marks the third consecutive day of losses for the cryptocurrency, which fell from a 2020 peak of over $0.343 down to its current value—equivalent to a loss of almost 19% in less than three days.
Compared to Bitcoin,XRPhas also performed particularly poorly as of late. After briefly gaining on Bitcoin between the 11th and 14th of February, XRP once again continued its downtrend against Bitcoin, falling from a peak of 0.00003350 BTC/XRP down to just 0.00002874 BTC/XRP as of writing. This loss of more than 14% has erased almost all of XRP's gains against Bitcoin in the last week, and shows no signs of slowing down.
Despite its recent loss, XRP is still up more than 16% in the last month and 4% in the last three months. Though it is in the green in these timescales,XRPhasn't had quite the same success as many other mid-to-large cap altcoins, including the likes of Ethereum (ETH) and Tezos (XTZ), which are up 48% and 97% respectively in the last month.
Nonetheless, in the short-term, the global cryptocurrency market appears to be in a state of decline, as almost $12 billion was wiped from the global cryptocurrency market cap in the last day. XRP and most other cryptocurrencies have fallen sharply in parallel, with altcoins bearing the brunt of the damage.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. || Barron's Picks And Pans: Berkshire Hathaway, Bitcoin, Roku And More: This weekend's Barron's cover story explores what comes next for the empire that Warren Buffet built. Other featured articles present the annual ranking of top fund families, examine regulatory issues at tech giants and review the performance of former Dividend Aristocrats. Also, the prospects for two natural gas picks, a leading cryptocurrency and more. Cover story " Inside Berkshire Hathaway's Future Without Warren Buffett " by Andrew Bary makes a case that as the Oracle of Omaha turns 90 this year, the company he built, Berkshire Hathaway Inc. (NASDAQ: BRK-A ), could be in for a stock-boosting makeover. Sarah Max's " Barron's Top Fund Families of 2019 " shares why MFS Investment Management was the big winner in the Barron's annual ranking of how the industry performed in its actively managed mutual and exchange-traded funds. In " Avoid Natural Gas Stocks Except for These 2 Names ," Avi Salzman points out that most natural-gas stocks look like dismal investments as gas prices plummet. See why Barron's says Cabot Corp (NYSE: CBT ) and one other pick may buck that trend. Regulators and presidential candidates are calling out big tech companies like Amazon.com, Inc. (NASDAQ: AMZN ), but self-imposed checks could be even more painful for the industry, according to " Big Tech's Regulatory Problems Go Deeper Than You Think " by Eric J. Savitz. In Lawrence C. Strauss's "When Dividend Aristocrats Lose Their Status, Their Returns Often Improve," see why the post-Aristocrat performance of some companies is solid, and some resume raising dividends after their membership infraction. Does that include U.S. Bancorp (NYSE: USB )? See also: 7 Ways To Invest In Gold Amid Coronavirus Fears "When Will Bitcoin Go Full Tesla?" by Jack Hough discusses how Tesla Inc (NASDAQ: TSLA ) stock has just had the ride of its life, and Bitcoin could be next as the cryptocurrency approaches a signal that in the past has led to new highs. Aurora Cannabis Inc (NYSE: ACB ) and other big North American cannabis companies could burn through their cash balances in months unless they can raise funds or cut spending. So says Bill Alpert and Connor Smith's "Marijuana Companies Could Burn Through Cash in Months." In "There's No Doubt Roku Is Growing Fast. But Analysts Are Split on the Stock," Nicholas Jasinski suggests that though the latest results from Roku Inc (NASDAQ: ROKU ) blew past their expectations, analysts still must weigh its rapid growth and large, still-untapped market against the stock's rich valuation. Also in this week's Barron's: Whether a stock and bond "twin bubble" is forming Story continues Why silver prices are poised to rise more this year The new director who bought $1 million in stock How a small-cap fund finds exceptional growth overseas Activist investors making moves in restaurant stocks At the time of this writing, the author had no position in the mentioned equities. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter. See more from Benzinga Benzinga's Bulls And Bears Of The Week: GM, Luckin, Slack, Tesla And More Benzinga's Bulls And Bears Of The Week: Apple, Comcast, GE, Netflix And More Barron's Picks And Pans: GM, Kraft Heinz, Tesla, Under Armour And More © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Thursday’s Market Madness Strained Ethereum’s Killer App: DeFi: So many people were trying to use the Ethereum blockchain during Thursday’s market meltdown that many applications simply stopped working as intended.
The decentralized finance (DeFi) sector was hit particularly hard.
The decentralized services that feed price information into these headless lending platforms – known as “oracles” in the industry – simply couldn’t keep up.
Related:Bitcoin Ekes Out Gains but Remains in Red Amid Broader Market Rebound
Oracles could not send accurate price data and traders could not execute trades without paying horrendous fees to record transactions onto the blockchain.
In a throwback to 2017, the Ethereum network became too crowded to execute transactions for many projects. In 2017, it was NFT gaming app CryptoKitties that overloaded Ethereum by issuing too many transactions during a bull market. At one point,30,000 transactions were stuckin the queue waiting to be processed by the network.
Thursday’s mass transaction action was caused by the precarious plummet of ether’s price, which shed 30 percent in 24 hours in anetwork first.
Pricing oracles – typically Chainlink or Maker’sV2oracle – were the main victims Thursday.
Related:MakerDAO Debts Grow as DeFi Leader Moves to Stabilize Protocol
Several of Chainlink’s 21 oracles were down during prime trading hours, according to bZx co-founder and CEO Tom Bean.
Stani Kulechov, founder and CEO of DeFi platform Aave, said he saw a Maker oracle throw a “20 percent price deviation” between the actual market price and Maker’s generated feed.
Oracles query data from on- or off-chain sources. Contracts pulling from on-chain sources had their requests crowded out by other transactions on the ethereum network, leading to oracle failures for both V2 and Chainlink.
Orders were also backlogged on the Ethereum mainnet and traders were forced to pay outlandish gas fees to settle.
For example, users were not able to perform trades on exchange dYdX or lending platformNuo Network. Both DeFi platforms changed their fee structures (including dYdX multiple times) to execute a slew of backlogged trades Thursday and early Friday.
“The network condition is affecting everyone,” Aave’s Kulechov said. “People need to just pay the 160 gwei [gas fee] to keep prices up to date.”
MakerDAO was undoubtedly the biggest loser on Thursday. An infrastructure error led to over$4 millionbeing swooped up by a lurking bot-maker, leaving investors high and dry as their collateral was taken away. In response, theMaker community votedFriday to restructure certain risk measures.
DeFi exchange bZx also halted opening new trades and loans and will leave these features offline until an audit is conducted, said Bean. bZx recently switched to Chainlink followinga flash loan attackthat relied on manipulated pricing data. All Chainlink oracles are reporting as of press time.
“The issue is that data providers can’t provide timely updates. I can query the current rate, but it’s way off from [the] actual market rate,” Bean said.
In an email, Chainlink co-founder Sergey Nazarov told CoinDesk that “unique market conditions created temporary congestion” on the ethereum mainnet. He said the congestion has been reduced, and all Chainlink oracles, which pull from multiple pricing feeds themselves, are now reporting accurately.
Still, other DeFi applications handled the surge of transactions without heavy-handed measures.
Decentralized exchange Uniswap saw its all-time trade volume double to over $53 million,according to a tweet from Uniswap founder Hayden Adams.
Kyber Network also set an all time high with some $30 million in 24-hour trade volume, according toCoinGecko.
What does this all mean? DeFi didn’t die, but it didn’t thrive either.
“If we want crypto to become a global asset class, we need better DeFi [infrastructure],” Multicoin Capital managing partner Kyle SamanitweetedFriday. “The status quo is not sufficient by orders of magnitude.”
• DeFi Leader MakerDAO Weighs Emergency Shutdown Following ETH Price Drop
• In Defense of Blockchain Voting || Bitcoin tumbles along with stocks amid coronavirus fears, questioning 'safe haven' theory: Stocks have seentwo days of steep lossesamid concerning new reports about the spread of coronavirus to countries like Italy, Iran, South Korea and Switzerland. The Dow Jones Industrial Average (^DJI) fell by more than 1,000 points on Monday, its worst day in two years. On Tuesday, stocks fell again, fortwo-day losses of more than 1,800 points.
Bitcoin and other cryptocurrencies had a brutal two days as well, calling into question a popular pitch some crypto believers push: that cryptocurrencies are a safe haven, an asset class that offers stability and wealth preservation during periods of heightened uncertainty and market volatility.
Amid the rout in equities on Monday afternoon, bitcoin (BTC) was down by more than 3%, ether (ETH) was down 3%,XRPwas down 5% and bitcoin cash (BCH) was down by nearly 7%, creating a sea of salmon-pink on ourYahoo Finance cryptocurrency heatmap, which displays the entire crypto market as a series of color-coded boxes, with the color reflecting each coin’s movement in the past 24 hours and the box size representing each coin’s market cap.
On Tuesday, coins fell again, with bitcoin down more than 3% and ether, XRP, and bitcoin cash each down by nearly 6%.
Of course, two down days do not make or break a market trend theory, and bitcoin believers argue that bitcoin has proven itself as a store of value over the longer run.
Even after Monday and Tuesday, bitcoin is up 34% in 2020 so far, and it is up 640% in the last three years. Bitcoin skeptics, on the other hand, will always compare the asset to its all-time-high of nearly $20,000 at the end of 2017, a level it has not neared since.
The coronavirus is exactly the kind of health crisis that should, in theory, boost the value of bitcoin and cryptocurrencies. In the past, bitcoin has risen during bank crises in countries like Greece, a sign that people without access to the banking system do see it as an alternative option.
Even before coronavirus, news out of China was already a major driver of cryptocurrency trends in the past six months as Xi Jinping has made clear his aim for China to develop a state-backed cryptocurrency, something thatFacebook CEO Mark Zuckerberg has warned aboutand that evenFed Chair Jay Powell has been watching.
Bitcoin is often called “digital gold,” but the price of gold rose this week while stocks and bitcoin fell. It might be most correct to conclude from the last two days that crypto looks uncorrelated to equities, but the jury is still out on whether it is a safe haven asset.
“This is still a very nascent, volatile asset class,” says Frank Chapparo of bitcoin news site The Block. “If I’m an investor and I want predictability in my portfolio, I’m not going to be outsized allocating to bitcoin and other digital assets. Now, that doesn’t mean that this narrative of bitcoin being a hedge against global economic insecurity or political insecurity [is wrong]. That’s still something that could play out over the next ten, fifteen, twenty years.”
—
Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers bitcoin and blockchain. Follow him on Twitter at @readDanwrite.
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit. || Crypto-Powered Internet Helps Rural Residents Work From Home During Coronavirus: Once the coronavirus hit, registered nurse Shannon Garcia suddenly needed to work from home, like thousands of others in the U.S. Not only would her isolation make space in a crowded hospital, she’d keep herself safe. Having cardiac arrhythmia and lung damage, she’s more vulnerable to the global virus taking a toll on her health.
But she faced a serious problem: a lack of internet access. Internet service providers (ISPs) don’t deliver internet in Clatskanie, Oregon, where she and her family live on a farm surrounded by cattle ranchers. She couldn’t contact her pregnant patients over video chat to check up on them.
Perplexed about what to do, she stumbled upon a rather atypical organization, Althea Network, running near her local community. She “stalked” them, she said, until they came to her area.
Related:Bitfury Latest to Donate Crypto Mining Power to Coronavirus Research
See also:Letter From New Hampshire: the Dangers of Disinformation
By looking to this small cryptocurrency company, she was able to get the internet when big internet companies couldn’t help her.
This lack of home internet is common. More than a third (37 percent) of rural Americans don’t have broadband internet at home,according to Pew Research. Brookings Institutionarguesthis is partly because ISPs are less likely to provide infrastructure in rural areas. Even if broadband is available, it tends to be slower.
The coronavirus exacerbates the problem as millions of workers and students suddenly need to work or learn from home, or run the risk of spreading the coronavirus further. With no other options, these people might lose their jobs, an added strain to an already struggling economy.
Related:Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis
To keep people connected so they can keep their jobs and even access telemedicine, cryptocurrency project Althea is powering internet connections in a novel way. It uses cryptocurrency as a payment method for internet connections brought about by community-powered mesh networks. The network devices accept payment inether(ETH) or DAI, with the company considering adding other cryptocurrencies in the future.
“Many people don’t have proper internet infrastructure and we can rise to fill that need,” Althea co-founder Deborah Simpier told CoinDesk, adding the coronavirus crisis fills her with a greater sense of “urgency” than ever before.
Right now, Althea is building a broadband network in Washington, already with some success in delivering internet to people like Garcia who need it during this uncertain time.
Even before this crisis, access to the internet was a problem for many across the world, in what’s become known as the “digital divide.” And if it seems like the internet is ubiquitous in the U.S., costs and accessibility have long been problems for asignificant portionof the U.S. population.
The coronavirus hasmade matters worse, leading to rapid and often unsettling changes and making people even more dependent on the internet.
Now schools are closing to try to contain the coronavirus, impacting55.1 million students. Many of these kids are expected to turn to learning online. Butthree millionU.S. students don’t have their own access to the internet.
I am happy to be a relay because I can make money.
Simpier hopes Althea will be able to fill that need for some of these kids, so the company is working to grow its networks beyond Oregon. “Right now we are primarily working on expanding our networks,” Simpier said.
Up until December Althea has been putting a proof of concept together, and it has been mostly focused on Oregon, with networks splattered across the state. Now, with the pressing needs of the crisis, Simpier thinks there could be opportunity to build networks almost anywhere.
“This crisis is going to get worse in the coming months, so it’s important to start now,” she said in a recentcommunity call, calling on volunteers to build more networks.
They’re starting to spread, with networks of various sizes up and running in Tacoma, Washington; Denver, Colorado; and Abuja, Nigeria. And they’re planning to expand to Haiti, Ghana, North Carolina and Philadelphia.
It’s not just the U.S. that’s benefiting from this technology amid the crisis.
Helmed by small business owner Yakubu Yakubu (who goes by “Yax Yax”), the network in Abuja (Nigeria’s capital city) delivers internet to more than 20 people who didn’t have home internet connections before Althea came around (though they did have slow mobile connections).
Fatima Abdulhamid, who uses the network in Abuja, has been using the internet connection to work from home amid the pandemic. “It’s huge that she can stay at home and continue to learn online. And not only that, but this is a source of income for her,” Simpier argued.
Abdulhamid can earn money from this by contributing to the underlying infrastructure. Antennas that pass on the connection, called “relays,” are spread across different houses in the neighborhood. If someone is close enough to one of these relays, they can use it to connect up to the internet.
Abdulhamid runs one of these relays in her home, delivering internet to neighbors.
This is where cryptocurrency comes into the picture. Other members of the group connect up to Fatima’s relay node and pay her in DAI for her service.
“I am happy to be a relay because I can make money and I feel at home with the Althea network,” Abdulhamid said in a statement.
“As more relays are added south of her, her own business to be empowered to make additional income,” Simpier said. That’s one reason why Simpier thinks it’s so important for these networks to be built in emerging markets, it “empowers” people with an extra source of income, she said.
Simpier argues that Althea network is more flexible than what most ISPs, such as Comcast or Time Warner Cable, provide.
She started the project in Oregon in her rural hometown of Clatskanie. She was partly inspired by how an ISP did install a radio tower, but abandoned the project when they decided it just wasn’t worth it.
The Althea mesh networks are “often” less expensive, and generally just less of a hassle, than setting up a full-blown radio tower, Simpier argued. “The economics of centrally held infrastructure require thousands of dollars of upfront costs and a long term [return on investment (ROI)]. With decentralization, many different people can contribute capex to building and growing the network and benefit from the revenue generated,” she said.
See also:Is Bitcoin in 2020 Really Like the Early Internet?
Simpier argued this flexibility is suitable for this crisis, seeing as people need internet connections right now to work or learn. It isn’t exactly feasible to wait for expensive, giant radio towers to be built.
The goal right now is to figure out how to set up these networks in as little as two weeks to address the crisis.
Simpier hopes the network will grow on its own out of need, like a vine growing uncontrollably in several different directions. Anyone running one of the intermediary relay devices can make money and other people can add relays to broadcast the signal further..
Yax Yax in Abuja, for one, is trying to onboard as many people as possible. He’s just waiting for more antennas to be sent in so he can help to start another network in Lagos, Nigeria, about 434 miles away from Abuja.
• Remote Working Proves Unexpected Hero as Half of US Economy Shifts to Home Offices
• Letter from the Philippines: Life During Coronavirus || The Surprising Benefit of Altcoins: Most investors are aware of the potential for explosive returns with cryptocurrencies, but theres another reason why they might deserve a home in your portfolio
Too much concentration in your portfolio can be dangerous. Investors overly-concentrated in airline stocks have experienced this first-hand in the last two weeks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips As you likely know, the spread of coronavirus has global investors worried about the hit on profits for airlines. This has led to huge selling pressure on airline stocks. The ETF JETS holds the biggest airlines in the world Southwest, Delta, American, United, JetBlue, you name it. Over the prior two weeks, through Friday morning as I write, JETS has cratered 25% compared to the S&Ps 15% decline. Earlier this week in the Digest , we talked about the pain many investors feel when their portfolios are performing worse than the market. How would you like being down 67% more than the market right now? So, how does an investor prevent this? Youre probably already way ahead of me
Diversification. In other words, you spread your wealth over a wide array of different assets. This is Investing 101. But what might surprise you is which asset class has recently proven to be a powerful diversifier
Cryptocurrencies. If youve been following Matt McCall and his research in the crypto space, you know theres a lot to be excited about today. After all, historical crypto performance suggests the upcoming halvening this spring could bring gains in the thousands of percent to bitcoin and elite altcoins. But today, lets look at a less-discussed reason to own some cryptocurrencies their role as a diversifier in your portfolio. As youll see, since the coronavirus reared its head roughly nine weeks ago, having some of your wealth in quality cryptocurrencies would have left you in far better shape than having your money 100% in the stock market
and this is true despite cryptos increased volatility and recent pullback. Story continues Today, lets jump into the details. ***The crypto space isnt just about moonshots Ask your average investor why anyone should own a cryptocurrency and the answer will likely boil down to one thing a chance to hit a homerun and score an outrageous return, potentially, thousands of percent. Thats true. To illustrate, heres Matt from his service, Ultimate Crypto , discussing the returns of bitcoin and various altcoins during past halvenings. (If youre new to the Digest and arent sure what a halvening is, its a unique event in the crypto world in which bitcoin miners see their reward for mining new bitcoin cut in half. Huge gains have surrounded the past two halvening events.) Returning to Matt: Looking back over the last two halvenings, investing in specific altcoins would have made significantly more money. During the same period in which bitcoin climbed 4,500% surrounding the second halving, an altcoin called Einsteinium shot up over 580,000%. Thats 129 times the gains bitcoin made investors during its massive run. For perspective, that would have turned $5,000 into $29 million. Talk about a life-changing investment. If that doesnt excite you, try this: Another altcoin called verge shot up over 63,000%. Thats more than 630 times your investment! But the potential for moonshot returns isnt the only reason to own cryptos today. Lets return to the lesser-known benefit of how cryptos can help diversify your portfolio. ***The nuts and bolts of diversification When you have a diversified portfolio, you own different assets that respond to various market conditions in different ways. One zigs while another zags. In other words, you want assets that are uncorrelated they dont all rise or fall in unison. Back to Matt: The current market environment highlights more reasons why cryptos should be part of a well-diversified portfolio. First, of course, is the potential to make a lot of money off them
Second, cryptos performance is largely uncorrelated to the stock market. That means the sector doesnt trade in sync with the market. It trades mostly on its own. Right now is a great example of what cryptos can add to a portfolio. So, what is Matt talking about? Well, CIX100 is a basket of the 100 largest crypto-coins in the market. As of Matts issue that published on Tuesday, the CIX100 was up 16.4% over the prior 30 days. Over that same period, the S&P was down 5.25%. One zigs, the other zags. If we zero in on bitcoin specifically, comparing it to the S&P, we see another illustration of widely-variant returns. Chinese authorities originally reported the first coronavirus case on December 31. Below, youll see bitcoins market performance compared to the S&P 500 since then. While the S&P is down 10%, bitcoin is up 20%. We see the same correlation benefit (or lack of correlation benefit) if we look at smaller altcoins. In Matts Ultimate Crypto portfolio, he currently holds six altcoins. As of his new issue on Tuesday, these coins were up an average of 32.8% in just seven weeks and again, thats while the S&P has been suffering. As I look at Matts portfolio here on Friday morning, all the recommendations are still up, and Im still specific gains of 94%, 31%, and 26%, among others. ***Now, lets be clear about the point were making
A crypto skeptic will say fine, cryptos may still be up, but theyve pulled back substantially in the last few days. Thats absolutely true. And its a reason why any investors allocation to cryptocurrencies needs to be sensible, and in keeping with his/her risk profile. But a few additional responses
One, while its fantastic that Matts crypto recommendations are doing so well collectively, the point of todays Digest is that theyre performing independently of the broad stock market again, the diversification element. The fact that cryptos have pulled back over the last week or so in no way diminishes this. Two, volatility in the space should hardly be a surprise. Thats the nature of this asset class. Plus, by definition, you cant separate downward volatility from upward volatility. Its funny how people tend to equate volatility with falling prices. But volatility simply refers to the variance of returns so, theres also good, upward volatility (which no one complains about)
and cryptos have had a lot of that so far in 2020. As we noted in a Digest last week, as of earlier in February when bitcoin was pushing 42% higher on the year, many altcoins were enjoying even bigger gains. At February highs, Bitcoin SV had popped 209% since the turn of the year. Bitcoin cash tacked on 113%, and dash added 195%. Meanwhile, crypto-favorites Ethereum, Ripple, and Litecoin tacked on 60%, 47%, and 78% respectively, as of earlier this month. If were going to enjoy this type of upward volatility, we have to be prepared for the inevitable downward volatility too. ***The homerun potential of altcoins Even though todays Digest is intended to highlight the diversification benefit of cryptocurrencies, lets end with a hat-tip to the primary reason we own them the potential for outrageous returns. Where do we stand today with that? Back to Matt: All signs continue to point to higher crypto prices in the coming weeks and months, no matter what stocks do
People in the know are getting ready for the halvening that will occur in mid-May, just as we are. But most investors are still in the dark. As the buzz picks over up the next couple of months, there is a great chance that bitcoin will rally through its all-time high set in 2017. That would be a 100%+ gain from todays prices. Why am I talking about bitcoin when it is not even in our Ultimate Crypto portfolio? Well, as goes bitcoin, so go a lot of the altcoins. Bitcoin is up about 30% this year, when many altcoins are up more
and some up well into the triple digits. If history repeats itself and bitcoin rallies into and through the halvening, smaller altcoins will do even better. Thats why we have six top-rated altcoins in the portfolio
and why they have outperformed bitcoin since the creation of the portfolio. Matt is so bullish on his altcoins thats he raising his buy limits on several of them. You see, Matts initial recommendation timing was spot-on, so in the days following his recommendations, his altcoins blew past his buy-limit prices. But given his continuing research in the space, Matt is bullish enough to up the buy-price for some of his coins. That, combined with this recent pullback, makes four of his coins actionable at the time of this writing. To learn more, click here . Stepping back, the last few days in the market illustrates why a diversified portfolio is needed to help reduce portfolio drawdowns and soothe frayed nerves. And it turns out, the crypto world offers such a diversification benefit
on top of its homerun potential. If you havent considered a small allocation to altcoins for your portfolio, give it a look. Have a good evening, Jeff Remsburg The post The Surprising Benefit of Altcoins appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: no change || Prices: 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80
|
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 2015-09-17]
BTC Price: 229.81, BTC RSI: 42.44
Gold Price: 1117.30, Gold RSI: 48.86
Oil Price: 46.90, Oil RSI: 55.03
[Random Sample of News (last 60 days)]
Retirees Represent Major Marijuana Market: As marijuana legalization spreads across the U.S., the public perception of a marijuana user is slowly changing from a young, unambitious kid to an elderly person with a cup of tea.
That's right, marijuana use isbecoming more and more commonamong retirees who say the drug helps them deal with some of the ailments associated with growing older.
Forget Florida
Retirees have long flocked to states with sunshine and great healthcare in order to live out their golden years, but marijuana legalization is becoming a top priority for many seniors who use the drug to cope with things like chronic pain or insomnia. Oregon has seen an influx of new residents over the past year as its relaxed marijuana laws drew in people who want to get high without worrying about legal consequences.
Many dispensaries say at least 50 percent of their clientele is made up of elderly people suffering from varying illnesses and looking for relief.
Related Link:California Plans For Pot Expansion
Boomers
The aging population of baby boomers has also contributed to increased marijuana use among seniors. As that generation lived through the 1960's and 1970's when drug use was common among teenagers, the decision to use marijuana as a retiree is often more comfortable.
Pushing For Legalization
The growing popularity of medical marijuana among retirees has created a powerful voice in the campaign to legalize marijuana in the U.S. Groups like Grannies for Grass paint marijuana use as a safe, effective way for the elderly to manage their pain in lieu of traditional medicine.
Many believe that as more and more retirees adopt medical marijuana, states like Florida with large elderly populations will be pushed to legalize the drug.
See more from Benzinga
• Bitcoin Payments Decline Significantly At Expedia
• EU In Favor Of Iran Deal
• Is Social Activism And Marketing A Good Combination?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Winklevoss twins file paperwork to operate Gemini bitcoin exchange: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Tyler and Cameron Winklevoss earlier this week filed paperwork to operate a bitcoin exchange called Gemini for both individual and institutional investors in New York state, a spokeswoman said on Friday. The twins, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea, want to make the digital currency mainstream in the United States. Unlike conventional money, bitcoin 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. The Winklevoss brothers filed an application on July 21 with the New York State Department of Financial Services to operate as a trust company. ItBit also filed a trust application in New York in February. In May, it became the first virtual currency company to receive a charter in the state. A trust company is a type of financial institution technically different from a bank, according to a blog by Houman Shadab, an expert on bitcoin regulations and a professor at the New York Law School. Under New York state's banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for governmental bodies, he wrote. Examples of trust companies in New York include securities custodian the Depository Trust Company, the wealth and asset manager Northern Trust, and the Bank of New York Mellon. Last year Mt. Gox, a Tokyo-based bitcoin exchange, was forced to file for bankruptcy after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the Mt. Gox attack. One bitcoin is currently worth around $289 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || 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, thecompany has developedan 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. || All Investors Are Long Volatility, But There’s Help: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by Mike Venuto, co-founder and chief investment officer of New York-based Toroso Investments. Over the past few years, there has been a lot of discussion about volatility as an asset class. The recent turmoil in the market has reignited this debate. In my opinion, volatility is not an asset class; rather, it’s a market factor that all investors are inherently long. Factors are idiosyncratic risk that traditional index investors inadvertently accept. Assets are tangible; they can grow and compound value. Volatility is a behavioral result or return characteristic, and usually a bad one. Unless an investor explicitly limits volatility, they are long this factor. The advent of VIX exchanged-traded products (ETPs) was intended to provide investors the ability to mitigate the exposure to this factor. The unintended consequence of these innovations was to create an opportunity for astute investors to profit from others’ desire to purchase volatility insurance. What Volatility Really Is Before delving into the intricacies of these ETPs, let’s clearly define the volatility factor. Realized volatility is simply a measure of standard deviation or investment performance outside of historical norms. Since the market trends upward, most spikes in volatility usually correspond with negative economic events. Additionally, realized volatility erodes the positive effects of compounding returns. This is best illustrated by Jeremy Siegel’s volatility paradox, which notes that returns are not geometrically offsetting. A loss of 10 percent in value requires a gain of 11 percent to go back to the original value. Volatility exponentially amplifies the breakeven requirements; a loss of 25 percent needs a 33 percent positive return to reset. Clearly mitigating this factor can have a positive effect on portfolio performance. Story continues Historically, investors have attempted to limit volatility through diversification and asset allocation. Over long market cycles, this has worked, but in times of extreme stress—like 2008, or most recently, during August of this year—correlation of investments increases and the negative impact of volatility trumps the benefits of diversification. The Need For Short-Term Tools Investors with shorter time horizons need tools that implicitly mitigate the volatility factor; hence, the advent of volatility ETPs. Most volatility ETPs seek exposure to the VIX index. The VIX index is a measure of implied volatility, which calculates the anticipated future standard deviation of the SandP 500 based on options prices. The VIX index is unique in that it does not compound, and always mean-reverts. Unlike an asset, it cannot go to zero, and it cannot go to infinity. Historically, the realized standard deviation of the SandP 500 has been about 16 percent. Over the past 20 years, the average value of the VIX has been about 18, indicating an anticipated volatility or implied volatility of 18 percent. It is common that implied volatility is higher than realized, and this spread is translated into the cost of purchasing insurance on realized volatility. Most ETPs that offer exposure to the VIX do so using futures. Essentially the underlying indexes combine long and/or short allocations of at least two VIX futures contracts. You’re Not Buying Spot VIX The process is complicated, but the most important thing for investors to understand is that investing in VIX futures will not result in returns that correspond identically to the VIX spot price. This phenomenon is best illustrated by the first VIX futures-based ETN. The iPath SandP 500 VIX ST Futures ETN (VXX | B-62) launched in January 2009, at a time when spot VIX was relatively high, around 44. Today spot VIX is about 45 percent lower, but VXX is 99 percent lower. It is safe to say that VXX is not a buy-and-hold investment. This is due in large part to the cost of maintaining the exposure or insurance. Since the launch of VXX in 2009, I have been fascinated by volatility ETPs. A key component of my investment philosophy is the acknowledgment that problems and inefficiencies create opportunities. This is an aspect shared by well-known investment managers in the ETP industry. When Inverse Is Not Shorting Greg King, currently CEO of the newly created REX ETFs, was both one of the architects of VXX and the creator of the vehicle, which captured the opportunity created by its inefficiency. In late 2010, King, via VelocityShares, launched the VelocityShares Daily Inverse VIX ST ETN (XIV) , which represents the inverse of the VIX Futures index tracked by VXX. It is extremely important for investors to understand that XIV is not short the VIX; it is short the cost of using futures to gain exposure to the VIX. In other words, XIV collects and compounds the cost or premium others are willing to pay for insurance. That said, when volatility spikes, the cost structure or futures curve inverts, and XIV loses significant value quickly and violently. The metaphor of picking up pennies in front of a steamroller accurately describes investing in XIV, but instead of pennies, investors collect dollars. I believe harvesting those dollars and consistently rebalancing exposure to XIV is one way to avoid being crushed. A less popular way to express this trade or metaphor is to pick up quarters in front of a go-kart with the VelocityShares Daily Inverse VIX MT ETN (ZIV) . ZIV investors can still get hurt, but not likely crushed, and the insurance premium collected is much smaller. ZIV tracks the inverse of the midterm VIX futures index. It collects the cost of maintaining exposure to VIX futures by using the three- to seven-months’ futures. This part of the curve is less expensive and less reactive to moves in the VIX. Since inception in 2010, ZIV is up about 180 percent. The Volatility ETP Universe Today there are close to $5 billion allocated to ETPs that invest in VIX futures. There are about equal amounts dedicated to products that are long VIX futures as there are to the inverse products. There is also about $1 billion in a new suite of products that dynamically move from equity exposures to long or short VIX futures. ETPs Assets $M # of ETFs # of ETNs Long VIX Futures $1,176,613.90 3 4 Leveraged Long VIX Futures $730,168.10 1 2 Short VIX Futures $1,992,688.50 1 4 Equities + L/S VIX Futures $1,057,104.10 4 3 Total: $4,956,574.60 9 13 Source: ETF.com as of Sept. 11, 2015 It should be self-evident that current VIX futures-based ETPs are insufficient tools to mitigate the realized volatility factor in a portfolio unless an investor has impeccable and consistent timing. That said, innovative new products are launched every year. Perhaps one of the most interesting launches in this space was this year’s AccuShares Spot CBOE VIX Up Shares (VXUP) and AccuShares Spot CBOE VIX Down Shares (VXDN) . These ETFs seek exposure to spot VIX, which is the holy grail of volatility-factor reduction. Unfortunately, this is not easily achieved, and the structure of these ETFs appears quite convoluted at first glance. They own cash instead of futures. Their value is maintained through distributions. There are equal amounts of VXUP and VXDN shares: Once a month, a distribution is made from one to the other that corresponds to the relative percent change in the VIX. This distribution is intended to keep the ETFs trading close to their stated net asset value (NAV ). Circuit Breakers Built In Theoretically, the insurance premium inherent in VIX futures implies that there should always be more demand for VXUP than VXDN; therefore, VXUP should normally trade at a premium. AccuShares was acutely aware of this possibility, and built circuit breakers—or triggers—into the structure that force a series of special distributions if either fund trades at significant premium or discount to NAV for more than three consecutive days. Around Aug. 17, this structure was tested when the VIX spiked more than 200 percent. To my surprise, VXUP was trading at about a 35 percent discount to NAV at this time of extreme fear. On Aug. 24, the special distribution process successfully brought the trading price back in line with NAV. Only time will tell if investors embrace this concept now that these ETFs have passed the first test. So, if you are investing in the stock market, you are idiosyncratically long volatility. There are many new and innovative ETPs to help mitigate that factor, but the intricacies and execution of these products requires vast knowledge of their structure and pricing. When investing, I prefer to embrace the volatility factor, if properly compensated and hedged. After all, Warren Buffett didn’t become rich by buying insurance; instead, his success came from prudently selling insurance. It might be time for ordinary investors to benefit from selling insurance as well. At the time of this writing, Toroso had positions in XIV, ZIV and VXUP. Toroso is affiliated with Global X Management Company. Toroso is a New York-based investment advisor focused on researching ETFs and other exchange-traded products, and designing asset allocation strategies, using ETFs that seek to perform well in various economic climates while emphasizing future objectives over past correlations. For more information about Toroso, call 646-465-5930, visit www.torosoinv.com or email info@torosoinv.com . For a list of relevant disclosures, please click here . Recommended stories Swedroe: Taxing The Yale Model ETF Options 101: 3 Ways To Go Long SPY Greg King Debuts New ETF Firm All Investors Are Long Volatility, But There’s Help Bitcoins In This ETF Not What It Seems Permalink | © Copyright 2015 ETF.com. All rights reserved || U.K. Cops Arrest 6 Teens Linked to Sony, Microsoft Cyber-Attacks: British law-enforcement officials have arrested six male teenagers suspected of being members of the Lizard Squad hacking crew that disabled Sony s PlayStation Network and Microsoft s Xbox Live last year. The U.K.s National Crime Agency, the equivalent to the U.S.s Federal Bureau of Investigation, said the suspects used a tool to launch distributed denial of service (DDoS) attacks to cripple online servers of gaming companies as well as e-retailers, a national British newspaper and a school. The NCA did not identify the targeted companies but reports said the arrests are related to several attacks on the PlayStation and Xbox networks last year . Amazon also was among the sites attacked by the group, Bloomberg reported . The NCAs Operation Vivarium tracked down individuals who bought Lizard Stresser, software for launching DDoS attacks that flood servers with bogus data, using payment services such as Bitcoin to remain anonymous. The suspects detained for questioning this week are all between the ages of 15 and 18. This multiagency operation illustrates the commitment of the NCA and its partners to pursuing people who think they can criminally disrupt important public services or legitimate businesses, Tony Adams, head of investigations for the NCAs National Cyber Crime Unit, said in announcing the arrests Friday. Adams added, One of our key priorities is to engage with those on the fringes of cyber criminality, to help them understand the consequences of cyber crime and how they can channel their abilities into productive and lucrative legitimate careers. Earlier this year, the NCA arrested two other British teens suspected of using Lizard Stresser. In addition, the agency said, officials are investigating approximately 50 addresses linked to individuals registered on the Lizard Stresser website but who are currently not believed to have carried out any attacks. The NCAs arrests this week are unrelated to the devastating hack on Sony Pictures systems last November , which resulted in a massive breach of internal studio documents and leaks of several films to piracy networks . U.S. officials have accused the North Korean regime of facilitating that attack. Story continues Related stories Amazon to Launch Prime Instant Video in Japan, Taking on Netflix Maria Bello to Co-Star Opposite Billy Bob Thornton in Amazon's Legal Drama 'Trial' TV Review: 'Hand of God' Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || 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 ordw@GreenBankCapitalinc.com.
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 contactpress@cryptonext.netor 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 || 5 technology stocks to buy at a discount: After a day of relief from China -fueled concerns, some CNBC "Fast Money" traders looked to a Chinese company for upside. Major U.S. averages jumped sharply Wednesday in their best day since 2011, as investors shrugged off fears about the world's second-largest economy. U.S.-listed shares of Alibaba (NYSE: BABA) , though, closed barely higher and are down 33 percent this year. "Alibaba is always a play on the Chinese consumer," said trader Brian Kelly, saying it "is the buy here" for the long term. Trader Tim Seymour-who owns the stock-said he would stick with it. Alibaba makes an appealing play on its current valuation and projected growth, he added. Read More Apple stock flashes a warning signal Big U.S. tech stocks, meanwhile, helped drive the rally. Netflix (NASDAQ: NFLX) -which climbed 8 percent on the day-looks like a buy after a stark drop earlier this month, said trader Guy Adami. "The market's changed. Netflix hasn't," he said. Meanwhile, Google (NASDAQ: GOOGL) and Facebook (NASDAQ: FB) jumped 8 and 5 percent, respectively, on Wednesday. Priceline (NASDAQ: PCLN) also climbed 4 percent. Read More The morning tech rally scares Mark Cuban Trader Steve Grasso contended that all of those stocks look appealing, even after their surges. 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. Steve Grasso Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE Brian Kelly Brian Kelly is long BBRY, BTC=; TWTR call spread, U.S. Dollar; he is short 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 || Louis C.K. Embraces Bitcoin: Comedian Louis C.K. has joined the fast-expanding number of merchants who now accept bitcoin as a payment method by making it possible for fans to download his comedy shows and pay using the cryptocurrency. His decision to incorporate bitcoin on his website underscored the digital currency's growing presence in the entertainment industry, which many believe will ultimately help lead to mainstream adoption. Bitcoin Integration On Louis C.K.'s website, fans can download the comedian's albums and recordings and pay anywhere between $1 and $85. In order to give his supporters another way to pay, Louis C.K. partnered with payment processor BitPay to allow bitcoin supporters to use their mobile wallets. The new option is also beneficial to Louis C.K. who is able to avoid the high transaction fees charged by other processors like PayPal Holdings Inc (NASDAQ: PYPL ). Related Link: Could Mike Tyson Become The New Face For Bitcoin? Positive Reception So far, his decision to incorporate bitcoin has received a positive reaction from fans. It appears that some of Louis C.K.'s supporters are a part of the bitcoin community, and have already begun using the new payment option to purchase the comedian's recordings. A Boost This is not the first time that bitcoin has been a hot topic in the entertainment space. Earlier this summer a new film called "Dope" announced that movie goers could purchase their tickets using the cryptocurrency. The film also incorporated bitcoin into its plot, giving digital currencies more exposure. Many believe that the adoption of bitcoin in the entertainment industry is essential to the cryptocurrency's mainstream adoption. Not only will it bring attention to the currency, but it may help to undo some of the negative publicity that bitcoin has received in past years after hacking attacks and scams made it out to be a tool for criminals. Image credit: Chairman of the Joint Chiefs of Staff , Flickr See more from Benzinga Is Medical Marijuana Effective? What's Happening To Media Stocks? Japan Says Bitcoin Can't Be Owned © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Social Activism And Marketing A Good Combination?: Earlier this month, The Coca-Cola Co (NYSE: KO ) removed its logo from cans of coke in the Middle East and replaced it with a message that read "Labels are for cans, not people." The campaign ran during Ramadan, an Islamic festival that takes place from June 17 to July 17. Overall, Coke's decision to pair marketing with social activism appeared to be a success, as the campaign quickly made its way through social media. Smart Marketing Or Soap Box? Many big corporations have used a global issue to drive their marketing campaigns much like Coca-Cola did, but the results haven't always been so positive. Trying to drive social change can have big rewards as it gets consumers to associate a company's brand with positive influence. However, firms also run the risk of seeming insincere, hypocritical and even uninformed if their campaign is a failure. Related Link: Bitcoin In The Middle East Race Together When racial tensions were at an all-time high earlier this year in the U.S., Starbucks Corporation (NASDAQ: SBUX ) inserted itself into the cross fire with its " Race Together " campaign. Soon after asking baristas to write the phrase "race together" and encourage open dialogue about race relations, the company disassembled much of the campaign. Social media lit up with accusations that the coffee-chain was overstepping its boundaries and using the issue as a marketing ploy and ultimately, the "Race Together" initiative was considered a flop. Real Beauty On the other hand, Unilever plc (ADR) (NYSE: UL )'s Dove brand used its far-reaching popularity to send a message about female self-esteem through its "Real Beauty Sketches" campaign. The company released a video in which women received two portraits of themselves from a forensic artist. The first was drawn based on their own description of themselves and the second was from a stranger's point of view. The video drove home the point that many women are critical of their own appearance and that they are more beautiful than they perceive. Soon after its release, the video went viral. Story continues Image Credit: Public Domain See more from Benzinga Starbucks Hopes To Blend In With The Locals Starbucks Hits Its Stride In The Digital Age Beverage Makers Hope To Ride The Craft Beer Wave © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Reaches A Fork In The Road: Since its arrival on the fintech scene, bitcoin has always been an open source, decentralized cryptocurrency. That means that no individual can update the system without a consensus among bitcoin users.
However, a fiercedebatewithin the community has threatened to pull bitcoin users in two separate directions.
The Problem
The bitcoin community has been locked in a heated debate over whether or not developers should increase block sizes to greater than 1MB. A block records recent bitcoin transactions, and increasing its size would help to accommodate the cryptocurrency's growing demand. However, critics say that making blocks larger could prevent ordinary users from hosting and would lead to more centralization.
Related Link:Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched
A Choice To Make
Now, developers Gavin Andresen and Mike Hearn have released a new version of software called Bitcoin XT which supports increased block sizes. The move has forced users to choose between Bitcoin Core, which keeps blocks under 1MB, or Bitcoin XT which allows their expansion when necessary.
Core Or XT?
While the two are compatible at the moment, Bitcoin XT is planning to update its system to incorporate larger block sizes if 75 percent of the cryptocurrency's users adopt it. Many worry that even if XT gains the majority needed for an update, the 25 percent of Core users will continue with that system. Such a decision would effectively tear the currency in two and could have the potential to significantly decrease adoption of the cryptocurrencies as a whole.
See more from Benzinga
• Automation Serves Up Massive Travel Delays For The Second Time This Summer
• Disney Looks To A Galaxy Far, Far Away To Revamp Its Theme Parks
• Bitcoin's Image As A Tool For Criminals May Not Be Far-Fetched
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin 813.14 TL, 277.61 $, 259.872 €, GBP, 17559.00 RUR, 36154 ¥, CNH, 372.74 CAD #btc || $289.00 #bitstamp;
$284.20 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || Current price: 157.85£ $BTCGBP $btc #bitcoin 2015-09-09 11:00:02 BST || #Bitcoin last trade
@bleutrade $227.80
@btcecom $225.40
@cryptsy $234.00
Set #crypto #price #alerts at http://AlertCo.in || Current price: 147.95£ $BTCGBP $btc #bitcoin 2015-09-16 23:00:06 BST || BTCTurk 679.13 TL BTCe 224.919 $ CampBx $ BitStamp 228.00 $ Cavirtex 302 $ CEXIO 227.5 $ Bitcoin.de 206.99 € #Bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 18770.00 INR Sell : 18201.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 148.85£ $BTCGBP $btc #bitcoin 2015-09-15 21:00:02 BST || BTCTurk 730.56 TL BTCe 241.87 $ CampBx $ BitStamp 249.07 $ Cavirtex 330.2 $ CEXIO 253.11 $ Bitcoin.de 230.00 € #Bitcoin #btc || Bitcoin traded at $258.88 USD on BTC-e at 11:00 AM Pacific Time
|
Trend: no change || Prices: 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-02-19]
BTC Price: 55888.13, BTC RSI: 79.09
Gold Price: 1775.80, Gold RSI: 35.67
Oil Price: 59.24, Oil RSI: 68.12
[Random Sample of News (last 60 days)]
Bitcoin rallies above $30,000 for first time: Jan 2 (Reuters) - Digital currency Bitcoin <BTC-BTSP> extended its record smashing rally on Saturday, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method.
The price of the world's most popular cryptocurrency traded as high as $31,584 early Saturday, with almost all other markets closed over the first weekend in 2021.
(Reporting by Alden Bentley; Editing by Daniel Wallis) || Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise: Bitcoin has shed much of the weekends stellar gains, as relatively cheap alternative cryptocurrencies play catchup with the crypto market leader. At the press-time price of around $29,000, bitcoin is down over 13% on a 24-hour basis, according to CoinDesk 20 data . Prices have declined by well over $4,000 in the last two hours, having reached a record high of $34,347 on Sunday. Bitcoin is having a much-needed reset. After a period of increased leverage and high [perpetual] funding rates across derivatives platforms, a brief consolidation around these levels is required, Matthew Dibb, co-founder, and COO of Stack Funds, told CoinDesk. Related: Bitcoin Bounces Back Above $31K After Monday's Drop Bitcoins perpetual funding rate (the cost of holding long positions) jumped to an 11-month high of 0.137% early today, signaling excess bullish leverage and scope for a price drop similar to the one seen in late November . With the pullback, the funding rate has declined only slightly to 0.122%. Trader and analyst Michaël van de Poppe said a correction was overdue after the overextended vertical move. The cryptocurrency surged by $5,000 to above $34,000 in the first three days of 2021, having rallied by over 165% in the final quarter of 2020. The breakout above $30,000 happened alongside large outflows from the Coinbase Pro exchange, a sign of institutions buying the cryptocurrency, according to some analysts . Most likely money is shifting from bitcoin towards altcoins or just temporary profit-taking is causing a price drop, Poppe told CoinDesk. Investors may have rotated some money out of bitcoin and into relatively cheap prominent alternative cryptocurrencies such as ether , stellar , chainlink and litecoin . These coins have outperformed bitcoin in the past 24 hours. Related: JPMorgan Predicts Bitcoin Price Could Rise Over $146,000 in Long Term Ether, the second-largest cryptocurrency by market value, rose to 35-month highs above $1,150 early Monday and is currently trading near $920, representing an 11% gain on a 24-hour basis. At press time, litecoin is changing hands at its highest since April 2018, and bitcoin cash is trading at 11-month highs. Story continues Ether was was up 30% during the early European trading hours before it was dragged lower by bitcoin. Other coins have also trimmed gains, but are still outperforming bitcoin. See also: DOGEs Gone Wild! Meme Coin Soars After Adult Star Says Shes a HODLer Dibb predicted a continued rotation of capital into ether and other altcoins as bitcoin slows down. However, options market data shows investors expect bitcoin to remain highly volatile in the short-run. Bitcoins one-month implied volatility, which gauges investors expectation of how volatile an asset would be over the next four weeks, has risen to near 100%, the highest level since March 2020, according to data source Skew. Bitcoins implied volatility has hit a ten-month high because options traders assume that the major moves in the price action over the past ten days which has seen BTC increase to well over $34,000 will continue, Sui Chung, CEO of CF Benchmarks said. Analysts, however, expect bitcoin dips to be short-lived. Our thesis remains extremely bullish, with a target of $40,000 BTC by February, Dibb said. Related Stories Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise || Bitcoin Price Nears $50,000 Following Week Of Good News: The price of the leading cryptocurrency has broken another record surpassing the $49,000 level. What Happened: Bitcoin (BTC) has gained 5.69% over the last 20 hours, reaching a record $49,527 at the time of writing. The current market capitalization is at about $917 billion, which is bigger than the market cap of JPMorgan Chase & Co. (NYSE: JPM ), Bank of America Corp (NYSE: BAC ), and Citigroup Inc (NYSE: C ) combined. Why It Matters: This week has been rich with Bitcoin news. On Feb. 8, Tesla Inc. (NASDAQ: TSLA ) announced it had invested $1.5 billion in Bitcoin and was getting ready to accept the currency as payment. On Feb. 10, Twitter Inc (NYSE: TWTR ) CFO Ned Segal, in an interview with CNBC, said the social media platform would consider adding BTC to its balance sheet if employees and vendors asked to be paid in the cryptocurrency. The next day Uber Technologies Inc (NYSE: UBER ) CEO Dara Khosrowshahi, also in an interview with CNBC, said that adding cryptocurrencies and or Bitcoin would be good for business. But Khosrowshahi also said Uber would not be adding crypto to its holdings for the time being because the company is not in the speculation business. Yesterday, Bloomberg reported that Morgan Stanley (NYSE: MS) is considering investing in Bitcoin through its $150 billion investment arm Counterpoint Global. Image source: Unsplash. See more from Benzinga Click here for options trades from Benzinga Freewallet Defends Self-Hosted Wallets After Elon Musk Criticism, Says Installs Increased By 50% Following Tweets Uber Will Consider Crypto As Payment, CEO Says It's 'Good For Business' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Tetragon Sues Ripple to Force Stock Redemption: One of Ripple Labs big financial backers is looking to reverse its bet on the XRP issuer. Tetragon Financial Group LTD, the multi-billion asset manager-turned-plaintiff, had led Ripples $200 million funding round in December 2019. On Monday night the U.K.-based firm moved to exit its position in a sealed filing in Delaware Chancery Court, according to Bloomberg . Just weeks ago the U.S. Securities and Exchange Commission put Ripples future in doubt with a blockbuster suit alleging XRP to be an unregistered security. Thats spooked the XRP markets and now, apparently, Ripple investors, too. Related: Market Wrap: Bitcoin Breaks $34K as Ether Futures Interest Jumps $350M in a Day Tetragon seeks to enforce its contractual right to require Ripple to redeem Series C preferred stock, Bloomberg reported. In the meantime, Tetragon wants the court to essentially freeze Ripples liquid assets until it pays. Ripple rejected the lawsuit Tuesday. In a legal filing shared with CoinDesk the fintech said Tetragon can only opt to flip its Ripple equity back to cash if XRP is deemed to be a security on a go forward basis. Since there has been no such determination, this lawsuit has no merit. We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. The courts will provide this clarity and we are very confident in our position. The filings were not immediately available at press time. Related Stories Tetragon Sues Ripple to Force Stock Redemption Tetragon Sues Ripple to Force Stock Redemption Tetragon Sues Ripple to Force Stock Redemption || The worst stocks are doing the best: Thursday, February 11, 2021
A version of this article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe
The stock market is the meme market now.
From the GameStop (GME) saga toTesla’s Bitcoin buy(BTC-USD) to Elon’sDogecoin(DOGE-USD) purchase, it seems like any internet-based humor that is even vaguely financial manages to impact asset prices.
But factoring in how much of a meme a given asset might be is just not part of traditional portfolio management or anything they teach in the CFA program. Yet.
What investment managers do learn, however, is that sometimes in markets everything that seems like it shouldn’t happen does. In other words, there are market moments during which it makes sense to think about what trades might make the least sense. And there you find your winners.
“Imagine for a moment that a portfolio manager describes their investment process as follows: they focus exclusively on companies with deteriorating or questionable business prospects, and lots of debt,” writes Credit Suisse analyst Patrick Palfry in a note to clients published Tuesday.
“They go on to highlight their fondness for companies that make poor use of invested capital, and experience large selloffs during periods of stress. While such a process might sound absurd, it is an excellent depiction of what’s been working since Pfizer’s November 6 vaccine announcement, which shifted investor focus toward the reopening process.”
In their note, Palfry and the team at Credit Suisse run through a series of these measures that define this market wherein investors reward what they call “junk and disappointment.”
Notably, Credit Suisse finds that stocks with high short interest have almost doubled the performance of stocks with low short interest. On the heels of theGameStop episodewhich saw, for a time, a number ofother heavily shorted namesbecome market darlings this performance is perhaps not all that surprising.
What is surprising, however, is that this trend was in place before the GameStop meme became a national news story. As Credit Suisse notes, “this pattern mimics other low quality metrics, and is reasonably unaffected by recent headlines on retail investor activity.”
Other measures that surface big winners include screening for stocks that have experienced the highest volatility, shares of companies that produce a low return on assets, and stocks with the biggest 52-week drawdown.
And as if this series of negative indicators turning into alpha generators isn’t frustrating enough for investors inclined to focus on fundamentals, it gets worse. Because actual fundamentals haven’t been helpful at all.
“Interestingly, these signals are much stronger than fundamentally-based metrics,” Credit Suisse writes, noting that the average reaction to shares of a company that beat on the top and bottom line is a decline the following day. Morning Briefreaders will recall that Sam Ro highlightedthe same trend of negative reactions to good earnings on Monday.
And Credit Suisse’s relative frustration at the explicit shunning of fundamentals by investors isn’t unique to them; on Tuesday,we highlighted work from Goldman Sachson the same subject.
How long these trends last and how they resolve are topics for folks smarter than us.
But identifying what’s been driving markets, why it’s been driving markets, and how the experts have been flummoxed by these dynamics all help explain what’s been a chaotic start to the year in markets.
ByMyles Udland, a reporter and anchor forYahoo Finance Live. Follow him at@MylesUdland
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
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For tutorials and information on investing and trading stocks, check outCashay || Corporate Treasuries Are Figuring Out Bitcoin on the Balance Sheet: Digital assets, in one form or another, are making their way into big business. The headline-grabbing version of this is straight-up BTC on the balance sheet, a renegade charge being led by MicroStrategy (MSYTR) CEO Michael Saylor, who is known for warning corporates that capital in fiat is being debased. Saylor’s MicroStrategy event this week included a playbook , going into the nuts and bolts of things like qualified custodians, hot and cold wallets and so on. Square (SQ) provided a similar guide in October. Related: Bitcoin Miner Bitfarms to Raise $31M in Sale of Shares to Institutional Investors It’s worth stepping back and remembering what unlikely bedfellows mainstream corporate treasury management and bitcoin really are – and how unthinkable this would have been a couple of years back. That said, MicroStrategy is not alone when it comes to fielding these sorts of discussions. At the end of last month, an event hosted by the Association of Corporate Treasurers (ACT) featured London-based crypto custodian Copper in discussion with IKEA’s treasury group. It’s a conversation corporate treasurers should be having, said Naresh Aggarwal, associate director at the ACT, even if the reality of getting into this new asset class remains some way off for many. “Through experience and from our qualifications, most treasurers are familiar with applying security, liquidity and yield when it comes to investing. In that order,” Aggarwal told CoinDesk in an interview. “Ultimately, if a board decides it wants to ride the coat-tails of a market that is potentially continuing to go up, that’s a choice that should be based on the risk appetite of the company – informed, of course, by their treasurer.” Related: India May Side-Step Parliament to Push Through Crypto Bill: Report Aggarwal agreed the discussion around whether crypto is a hedge against inflation is an interesting one, but pointed out that countries like the U.K. are not running into an inflationary environment. Story continues “Most G20 countries are not experiencing high levels of inflation and in the U.K., I think inflation recently ticked up to 0.8%,” Aggarwal said. “I can’t see us returning to the days of inflation rates of 8% or 9% any time soon. If you’re in Venezuela, for example, then that’s a very different situation.” While corporate treasurers wait and see what happens to Saylor’s capital reserves, many players understand the inevitability of digital and crypto-enhanced forms of payment and tokenized asset plays. Last year’s regulatory recommendations from the U.S. Office of the Comptroller of the Currency (OCC) only served to confirm this. Ledgermatic for the people Making its first immaculately timed outing this week, Ledgermatic, a startup helmed by former PwC, IBM and BTC.com executives, is offering a range of tools to future-proof corporate treasury management in light of the coming digital-asset economy. Ledgermatic CEO Luke Sully says the likes of Michael Saylor and Jack Dorsey must be recognized as the first corporate evangelists for this use case. “This will be an interesting test case for the BTC on the balance sheet,” Sully said in an interview. “It would appear that theirs are a long-term approach and not for short-term gains. I expect CFOs and treasury teams will be watching and scratching their heads, thinking of the other questions this raises and exactly how to manage this particular asset and get the benefit while reducing exposure to its price volatility.” Corporates have to account for crypto differently than investment funds do, Sully pointed out, adding that most CFOs and finance teams just don’t have the tools available to them to manage and integrate digital-asset workflows. “There are some procedures we have gamed out for anyone thinking of adding crypto to their balance sheet,” he said. It’s also worth remembering that Square is a payments company that is naturally involved in fintech, while software is native to MicroStrategy. Even some insurance companies that are said to be looking at crypto, may well have been through a process of tire-kicking with custody providers that are looking for cover. Speaking at the Copper/ACT webinar, Michael Aandahl, IKEA Group’s head of digital treasury, said the “early birds” moving towards digital assets are often already close to this area in terms of their core business. “You can imagine, as you get further away from your core business, you would ask more questions like, ‘Should we really be doing this?’” Aandahl said. “Well, I think the point here is some companies are starting to do this because they see it as an enabler for their core business.” Related Stories Corporate Treasuries Are Figuring Out Bitcoin on the Balance Sheet Corporate Treasuries Are Figuring Out Bitcoin on the Balance Sheet || Crypto inflows slump after December record -report: By Gertrude Chavez-Dreyfuss NEW YORK, Jan 11 (Reuters) - Investment flows into cryptocurrency funds and products were just $29 million in the first week of January, down sharply from a record $1.09 billion in the week before Christmas, according to the latest data on Monday from asset manager CoinShares. In addition, the data showed pointed profit-taking from record prices, with some investment products seeing outflows. Nevertheless, total assets under management (AUM) in the industry stood at an all-time peak of $34.4 billion as of Jan. 8. At the end of 2019, the total was just $2 billion. Bitcoin plunged more than 19% on Monday, putting it on track for its biggest one-day drop since March as its surge to a record $42,000 last week lost steam. "Bear market plunges and excessive volatility are powerful agents that scare away the uninitiated," said Edward Moya, senior market analyst, at OANDA in New York. "But we are initiated and would like to point out that this was to be expected and that we already saw a near-20% decline earlier last week." Inflows into bitcoin investment products totaled $24.3 million in the first week of the year. Ethereum, the second largest cryptocurrency in terms of market capitalization, accounted for $5.3 million, according to the latest available data. The data showed that investors pumped $15.6 billion into bitcoin products and funds in 2020, while ethereum inflows reached nearly $2.5 billion. "Bitcoin is still up on the year and the current 22% crash won't intimidate any of the new institutional money that just hopped onto the crypto bandwagon," OANDA's Moya said. Assets under management in Grayscale, the world's largest crypto fund, rose to a record $28.2 billion as of last week. CoinShares, the world's second largest crypto fund, showed assets under supervision of $3.4 billion. Its XBT Provider line of exchange-traded products hit record trading volumes on Jan. 4 of about $202 million. XBT Provider is a Swedish-based issuer of exchange-traded products listed on Nasdaq Stockholm AB, which is part of Nasdaq Inc and wholly owned by the CoinShares Group. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Kevin Liffey) || These DeFi Tokens Have Double-Digit Gains as Bitcoin’s Growth Tapers: As the recent price rally in bitcoin and ether cools down, investors and traders are taking a closer look at alternative tokens (“altcoins”), particularly those from the decentralized finance (DeFi) subsector. Multiple DeFi tokens this week saw double-digit gains, including 0x (ZRX), aave (AAVE), and maker (MKR). Prices for 0x were at $0.52 at the time of writing, up 20.42% in the past 24 hours, according to CoinDesk 20. Maker’s price, at the same time, saw near-160% growth year to date. “I think the biggest thing is bitcoin’s momentum finally cooling and giving DeFi tokens some room to breathe,” Ryan Watkins, research analyst at Messari, told CoinDesk. “On top of that there are a lot of exciting new releases coming out in DeFi these next one to two weeks which is creating momentum as well.” Related: Bitcoin Bounces as Options Market Sees 20% Chance of $50K at Month's End 0x, an Ethereum-based decentralized exchange, announced its version 4 upgrade plan on Jan. 7, which caused a sudden rally in the protocol’s ZRX token. The upgrade will include new customizable modules that are able to execute trades without interruption and gas efficiency optimization. The vote for the upgrade is scheduled for Jan. 16. Trading volumes on major decentralized exchanges also saw rapid growth in the past month, up 95% to approximately $37.58 billion, according to data from Dune Analytics . On derivatives exchange FTX, perpetual futures for their DeFi index were also trading near their all-time high again as of press time. However, this time is unlike the last “alt season” that appeared temporarily after bitcoin’ s bull run in 2017 or the “DeFi summer” boom, which was caused by “hype” on high yields from liquidity mining, according to Peter Chan, lead trader for crypto trading firm OneBit Quant. He told CoinDesk he does not see any new exciting projects that are attracting particular liquidity to altcoins. Rather, the current renewed growth in DeFi has some wondering whether DeFi will become something that is much bigger than just the potential high returns from so-called “ yield farming. ” Related: Deribit Exchange Raises Maximum Bitcoin Options Strike Price to $400K Read More: What Is Yield Farming? The Rocket Fuel of DeFi, Explained In a Financial Times op-ed written by Brian Brooks and published Tuesday, the outgoing acting head of the U.S. Office of the Comptroller of the Currency (OCC) wrote on the future “self-driving” banks, raising the possibility that the DeFi sector is here to stay if regulations are able to catch up with the fast-growing technology and ensure compliance and safety. Story continues “Although these ‘self-driving banks’ are new, they are not small,” Brooks wrote. “They are likely to be mainstream before self-driving cars start to fly.” Watkins said that “continued growth and maturation of DeFi infrastructure” is the next move for the DeFi sector, which involves increased layer 2 adoptions , more protocol-to-protocol corporations and cross-chain DeFi projects. Improved fundamentals are usually good news for DeFi tokens, which could see continuous price growth in the long term, according to Watkins. Related Stories These DeFi Tokens Have Double-Digit Gains as Bitcoin’s Growth Tapers These DeFi Tokens Have Double-Digit Gains as Bitcoin’s Growth Tapers View comments || Bitcoin Steady as Analysts Say Getting Back to $40,000 Is Key: (Bloomberg) -- Bitcoin hovered near $36,000 on Monday, below a level that strategists at JPMorgan Chase & Co. see as an inflection point for the digital coin. The cryptocurrency could be hurt by an exodus of trend-following investors unless it can break out above $40,000 soon, a team including Nikolaos Panigirtzoglou said. The pattern of demand for Bitcoin futures and the $22.9 billion Grayscale Bitcoin Trust will help determine the outlook, they added. The flow into the Grayscale Bitcoin Trust would likely need to sustain its $100 million per day pace over the coming days and weeks for such a breakout to occur, the strategists wrote in a note on Friday. Traders seeking clues about investor appetite for risk have been gripped by Bitcoins stunning rally and turbulent 10% slide from a record of almost $42,000 on Jan. 8. The cryptocurrency boom since March has reflected the ebullience of financial markets awash in stimulus -- as well as concern over whether gains will ultimately prove fleeting. The JPMorgan strategists said Bitcoin was in a similar position in late November, except with $20,000 as the test. Flows of institutional investment into the Grayscale trust helped the worlds largest cryptocurrency extend its rally, they wrote. Trend-following traders could propagate the past weeks correction and momentum signals will naturally decay from here up till the end of March if Bitcoins price fails to break above $40,000, they said. Bitcoin fell 1.4% to $36,014 as of 3:25 p.m. in London on Monday. Exactly whats driven the yearlong near-quadrupling in Bitcoins price remains murky. Commentators have cited day traders, wealthy buyers, hedge funds, companies and even signs of interest from long-term investors like insurers. Dread to Think Some, like Chris Iggo, remain skeptical of Bitcoins appeal to large institutions. I dread to think what most risk officers would think about that being in a core investment portfolio, the chief investment officer of core investments at Axa Investment Managers wrote in a note. For assets to be considered in a long-term investment portfolio one should be able to attach some fundamental intrinsic value to them. Story continues Bitcoins proponents argue its maturing as a hedge for dollar weakness and the possibility of faster inflation in a recovering global economy. Others say its defining characteristic remains speculative booms followed by busts. Read more: Does Bitcoin Boom Mean Better Gold or Bigger Bubble? QuickTake For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2021 Bloomberg L.P. || BTCS Reports 1,327% Year-Over-Year Gain in Digital Assets: Digital Assets now valued at approximately $7 million, driven by additional investment and continued rally Silver Spring, MD, Jan. 11, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire ) BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a digital asset and blockchain technology focused company, provides an update on its business and digital asset portfolio. Establishing positions in key digital assets is a core part of the Company’s business plan. Through timely purchases of Bitcoin and Ethereum, BTCS has substantially grown its digital asset portfolio over the past 18-months. The table below summarizes the Company’s Digital Asset growth over the last six quarters: Digital Assets Held at Period End Asset 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2020Q4 BTC 14.9 20.6 20.6 54.3 63.6 66.9 QoQ Change 38% 0% 163% 17% 5% ETH 584.7 985.0 985.0 2,304.6 2,554.7 2,674.2 QoQ Change 68% 0% 134% 11% 5% The Fair Market Value of the Company’s digital asset position increased 1,327% to $3.9 million in 12-months ended December 31, 2020. The table below, based on year-end prices of $29,325 per BTC and $739 per ETH, summarizes the Fair Market Value of the Company’s Digital Assets over the past six quarters: Fair Market Value of Digital Assets Asset 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2020Q4 BTC $123,733 $148,406 $132,831 $496,027 $685,331 $1,962,538 QoQ Change 20% -10% 273% 38% 186% YoY Change 1,222% ETH $105,175 $127,662 $131,582 $521,552 $909,478 $1,976,260 QoQ Change 21% 3% 296% 74% 117% YoY Change 1,448% Total $228,908 $276,068 $264,413 $1,017,579 $1,594,809 $3,938,798 QoQ Change 21% -4% 285% 57% 147% YoY Change 1,327% The Company believes Bitcoin, Ethereum, and certain other digital assets are a great store of value and can be an effective hedge against monetary debasement in the wake of multi-trillion-dollar economic bailouts. Bitcoin has rallied over 700% from its March 2020 low, which the Company believes is driven by institutional interest in digital assets, PayPal allowing its customers to buy and sell bitcoin through their platform, and a flight to safety during the ongoing COVID-19 pandemic and political turmoil. On January 8, 2021, the Company’s digital asset portfolio had a Fair Market Value of approximately $7 million, which includes $800,000 worth of digital assets purchased with the proceeds of management’s recent $1.1 million investment. Story continues “Our original thesis that has guided our operating decisions across the years has proven very prescient over the past 12 months,” stated Charles Allen, CEO of BTCS. “While we are pleased with the strong gains of 2020, management believes the best is ahead for BTCS and recently backed this belief by investing $1.1 million into the Company, representing a substantial financial commitment. We want to thank our shareholders for their continued support and look forward to sharing more of our successes with you in 2021 and beyond.” While the Company continues to believe Bitcoin and Ethereum are a great store of value, going forward, it plans to utilize its industry experience to further expand the Company’s Digital Asset holdings to diversify risk as it continues to grow its business. BTCS also plans to avoid digital assets which it believes may be classified as digital securities. Digital Assets, which are not securities such as Bitcoin and Ethereum, are non-productive indefinite life intangible assets according to U.S. GAAP. Therefore, the Company anticipates that the carrying value of our Digital Assets on our balance sheet for the year ended 2020 will be approximately $1 million. Digital assets are carried on our balance sheet at the lowest price they have been since the date of purchase. About BTCS: BTCS is one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies. BTCS plans to acquire additional Digital Assets to provide investors with indirect ownership of Digital Assets that are not securities, such as bitcoin and ether. We intend to acquire Digital Assets through open market purchases. We are not limiting our assets to a single type of Digital Asset and may purchase a variety of Digital Assets that appear to benefit our shareholders, subject to the limitations of the Investment Company Act of 1940. We are also internally developing a digital asset data analytics platform and seeking to acquire controlling interests in businesses in the blockchain industry. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding our belief regarding our belief that our digital assets are a great store of value and can be an effective hedge against monetary debasement, our growth plans and our belief regarding future financial results for the Company. 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, falling Bitcoin and/or Ethereum prices, our management failing to execute their plan, and other risks set forth in the Company’s filings with the Securities and Exchange Commission. 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)]
None available.
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Trend: down || Prices: 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-11-17]
BTC Price: 17645.41, BTC RSI: 80.09
Gold Price: 1884.50, Gold RSI: 47.85
Oil Price: 41.43, Oil RSI: 56.70
[Random Sample of News (last 60 days)]
Grayscale Investments Study Shows More than Half of U.S. Investor Survey Respondents Would Consider Investing in Bitcoin and 23% Already Have: Survey of 1,000 domestic investors looks at COVID-19 impacts, profile of the modern Bitcoin investor, and more New York, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments , the worlds largest digital currency asset manager, today released its 2020 Bitcoin Investor Survey, the firms second annual review of investor perceptions, interests, and reservations about investing in Bitcoin. The study, conducted jointly by Grayscale and financial market research firm 8 Acre Perspective , revealed that, perhaps for the first time ever, more than half of U.S. investors (55%) would be interested in investing in Bitcoin, representing a potential U.S. market of nearly 32 million Bitcoin investor households.This marks a substantial increase in interest from 2019, when 36% of investors said they would consider a Bitcoin investment. The survey also showed how 2020 impacted both existing and potential Bitcoin investors: Among existing Bitcoin investors, 83% bought in the last 12 months About two thirds of Bitcoin investors who bought in the last four months said COVID-19 impacted their decision to invest Among all respondents, including those who werent interested in Bitcoin, 39% said COVID-19 made Bitcoin more appealing, while just 13% said it made Bitcoin less appealing This data makes it clear that investor interest in Bitcoin grew substantially in 2020. As investors become more familiar with Bitcoin and better understand the role it can play in a diversified portfolio, they are more likely to invest, said Michael Sonnenshein, Managing Director at Grayscale Investments. With Bitcoin increasingly being supported by mainstream names like PayPal, Square, MicroStrategy, and Paul Tudor Jones, we believe investor attitudes will continue to evolve toward greater acceptance of Bitcoin and the larger digital currency asset class. Grayscale Investments commissioned this survey to better understand what motivates individuals to invest in Bitcoin, how the pandemic impacted interest in Bitcoin, and what headwinds still remain. The survey of 1,000 U.S. investors was conducted between June 26, 2020 and July 12, 2020. Story continues The full report is available for download here: https://gryscl.co/2HE9AZb . This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About Grayscale Investments® Grayscale Investments is the worlds largest digital currency asset manager, with more than $7.3B in assets under management as of October 23, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscales products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @Grayscale . CONTACT: Press Contact press@grayscale.co || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash remains in the same relatively tight trading range that it has been in since the turn of the year, with it currently bouncing off the daily 200 exponential moving average (EMA). As the three-year anniversary of Bitcoin Cash’s infamous hard fork approaches, it has now lost 93.98% of its value with a market cap of $4.8 billion. From a technical perspective, $204 continues to be the key level of support for BCH with price being propped up on numerous occasions dating back to September, 2019. To the upside, meanwhile, the key hurdle for Bitcoin Cash is at $282 as this has been a point of rejection on three occasions since late October. If Bitcoin Cash can can begin to establish a period of bullish momentum and take out $282, it will likely follow the trend of the wider cryptocurrency market and test the $329 level of resistance. However, what often happens to altcoins when Bitcoin begins a bullish charge to the upside is that they suffer a sell-off, which seems to be the most likely short-term destiny for Bitcoin Cash. Bitcoin Cash head honcho Roger Ver continues to be his vocal self about the functionality of BCH recently, posting images on social media about how the Bitcoin fork is being accepted at a merchant in Antigua. For more news, guides and cryptocurrency analysis, click here . Pricing Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. Story continues More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: https://coinrivet.com/roger-ver-to-launch-crypto-exchange-on-bitcoin-com/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 19, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.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.
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SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/611128/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ConsenSys-Incubated Startup Releases In-Browser Atomic Swap Wallet for DeFi: On Thursday, ConsenSys-incubated startup Liquality released a new wallet that lets you atomically swap digital assets directly from your browser. The Liquality Atomic Swap Wallet can act as a trustless alternative to current methods of porting cryptocurrencies into the decentralized finance (DeFi) space due to the peer-to-peer (P2P) nature of atomic swaps, Liquality co-founder Thessy Mehrain told CoinDesk in a phone interview. The wallet interacts similarly to cryptocurrency wallet MetaMask, but with an entirely different end-game: swapping assets trustlessly. Related: BitGo Is Bringing DeFi-Friendly Wrapped Bitcoin to the Tron Blockchain “It’s called a chain abstraction layer, which basically is a way of making different blockchains talk the same language and interact,” Liquality co-founder Simon Lapscher said. Liquality’s wallet leans on atomic swaps and hashed time locked contracts (HTLC), a cryptographic escrow scheme that allows two parties to swap assets without trusting the other party. HTLCs are also the foundation of Bitcoin’s second-layer payment scheme, the Lighting Network. Atomic swaps: an alternative to asset wrapping Notably, atomic swaps let investors hold onto their private keys throughout the entire exchanging process. Mehrain and Lapscher believe these swaps can act as a trustless alternative for DeFi investors looking to bring value from one blockchain to another. To date, over $1.1 billion worth of bitcoin has been tokenized on Ethereum. Related: Uniswap Users Have Claimed $560M-Worth of UNI Tokens in a Week Yet, investors have increasingly relied on private firms to bring value from other blockchains to Ethereum’s DeFi markets. Read more: Supply of Tokenized Bitcoin on Ethereum Now Tops $1.1B: Here’s Why Current methods of transferring value from Bitcoin to Ethereum, such as BitGo’s wrapped bitcoin (WBTC), require third-party custodianship. P2P atomic swaps, on the other hand, do not. Story continues Liquality itself currently acts as the counterparty to all wallet swaps, with advanced users having the ability to choose other counterparties. The startup makes revenue acting as market maker for swaps, Lapscher said. Enough adoption should create sufficient network liquidity within the wallet to allow Liquality to disinvolve itself entirely from the process, he added. Related Stories ConsenSys-Incubated Startup Releases In-Browser Atomic Swap Wallet for DeFi ConsenSys-Incubated Startup Releases In-Browser Atomic Swap Wallet for DeFi || Blockchain Bites: Bitcoin’s Run, Uniswap’s Hemorrhaging Value, Anchorage’s Banking Bid: Bitcoin is nearing all-time highs in price and market cap last set three years ago. Anchorage has applied with the OCC for a national bank charter. Community members have proposed a vote to reinstate Unsiwap’s liquidity mining program.
15% belowBitcointraded above $17,000Tuesday at 12:00 UTC for the first time since Jan. 7, 2018, according to the CoinDesk 20 price index. This move puts the cryptocurrency 15% below its all-time high of $20,000 set in December 2017, and up nearly 130% on the year. The rise also pushes bitcoin’s total market capitalization to over $315 billion, just short of its $335 billion record. DespiteBTC’sstrong performance, exchange trading volumes remain relatively unimpressive. Take Coinbase’s BTC/USD trading pair for instance, which has seen flat monthly volumes since June.
Origin unknownStablecoin project Origin Dollar (OUSD)lost nearly $7 millionworth of crypto in the latest sophisticated exploit of a decentralized finance (DeFi) protocol. At 00:47 UTC Tuesday, an unknown attacker utilized a flash loan and flaws in OUSD contracts to initiate what is known as a “rebase,” according to the protocol’s team. The attack artificially inflated the supply of OUSD tokens within the protocol before swapping the newly printed tokens on SushiSwap and Uniswap forUSDT. The team has since disabled deposits and the price of the project’s native token was down 85% on the news.
Related:First Mover: Bitcoin Tops $17K as Scaramucci Makes Entrée, Ethereum Meets Rival
Crypto-native bankCrypto custodian Anchorage is looking to convert a part of its business into anationally chartered bank. In a notice dated Nov. 9, Anchorage applied to the U.S. Office of the Comptroller of the Currency for a national charter to become, if approved, the first crypto-native bank regulated at the federal level. Nathan McCauley, Anchorage’s co-founder and CEO, told CoinDesk the company is looking to “serve the emerging needs of large banks looking to integrate crypto” with the license, which would give Anchorage the clear authority to act as a “qualified custodian” for institutional investors in all 50 states.
Galaxy’s fundCrypto merchant bank Galaxy Digital willlaunch a bitcoin fundin Canada, called the CI Galaxy Bitcoin Fund. According to a Monday press release, the fund’s preliminary prospectus has been approved by the nation’s securities regulator for a public offering. Designed in collaboration with CI Global Asset Management, the “closed-end” investment fund will invest directly in BTC and be targeted towards institutional investors. Last week, Galaxy disclosed it had acquired two crypto businesses in a bid to become the “go-to” firm for such investors.
Chump change?Providing insight into a proposed rule change that wouldlower the threshold to report crypto transactionsto the international regulatory body, a Financial Crimes Enforcement Network (FinCEN) policy specialist said criminals are conducting cross-border payments using smaller amounts of cryptocurrency. Last month, authorities submitted a proposal to amend the “Travel Rule” requiring banks and digital asset service providers to collect and store information related to crypto or fiat transfers of at least $250 that go outside the U.S. (down from $3,000). That said, FinCEN is seeking comment “from the industry as we are examining all the different technologies and business models operating in this space, whether it’s decentralized exchanges or related applications,” the agency expert said.
• As DeFi grows, investors look to Polkadot as the next Ethereum. (CoinDesk)
• Mask Network allows users to send encrypted messages, cryptocurrencies and even dapps over Twitter and Facebook. It just raised $2 million from Balaji Srinivasan, Alameda Research and others. (CoinDesk)
• Tether’s blacklistings on Ethereum grew by 130% this quarter. (The Block – paywalled)
• Crypto execs need liability insurance, thinks McLeod Law’s Matthew Burgoyne. (CoinDesk – op-ed)
• In a reminder of crypto’s core value proposition of censorship resistance, Western Union will suspend U.S. dollar transfers to Cuba. (CoinDesk)
Outshining goldBitcoin isoutshining goldby a significant margin. While the top cryptocurrency by market value has risen 22% to cross $17,000 this month, the precious metal is up just 0.5% at the current price of $1,890 per ounce.
Related:Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
‘Digital silver’ flipsLitecoinjumped tonine-month highsearly on Tuesday, replacingbitcoin cashas the seventh-largest cryptocurrency by market value. The cryptocurrency, sometimes called “digital silver,” rose approximately 10% to $75.77 during the Asian trading hours, a level last seen on Feb. 24, according to the CoinDesk 20. With the jump, Litecoin now has a market capitalization of $4.90 billion, higher than bitcoin cash – which underwent a hard fork on Sunday – at $4.67 billion.
Governance voteUniswap, the decentralized market maker at the center of this year’s DeFi boom, has ended its liquidity mining subsidy.
Instituted in September in a bid to regain market share from the upstart protocol SushiSwap, Uniswap allocated approximately 20 million UNI to four mining pools –ETH/USDT, ETH/USDC, ETH/DAI, and ETH/WBT.
SushiSwap, a genetic clone of Uni, burst on the scene as a fully decentralized (read: not venture-backed) market maker, offering the one thing Uniswap lacked: a governance token.
Sushi planned to attract Uniswap users by offering steep rewards for those that migrated to its platform. Uniswap responded to the threat by airdropping some 1 billion UNI governance tokens to community members, team members and investors, and instituting the liquidity mining program.
Since launch, Uniswap’s token has been an experiment incommunity governance. Recently, a proposal with popular support to further disseminated UNI tokens to those kept out of the initial airdrop fell short by less than 2.5 million “votes.”
Now, the community is facing another vote to reinstate the liquidity mining program. On Monday, Audius strategy lead Cooper Turley and pseudonymous “monet supply” Monday presented a proposal toreinstate the programat a diminished scale.
The proposal will have to pass a series of governance polls before farming restarts Dec. 4. 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.
Now, facing a tough governance vote, total value on the platform tankednearly 55%to $1.4 billion at press time, according to DeFi Pulse.
• Blockchain Bites: Bitcoin’s Run, Uniswap’s Hemorrhaging Value, Anchorage’s Banking Bid
• Blockchain Bites: Bitcoin’s Run, Uniswap’s Hemorrhaging Value, Anchorage’s Banking Bid || Wei Art Collections Unveils Tesla-Inspired, Limited Collection Artwork: New Gallery Stuns Again with Multi-Million Dollar, Culturally Significant Pieces Wei Art Collections Wei Art Collections Wei Art Collections DUBAI, United Arab Emirates, Oct. 04, 2020 (GLOBE NEWSWIRE) -- Wei Art Collections is pleased to reveal its latest collection; a series of mixed-media artwork inspired by the logo of Tesla, the American electric vehicle, space science and clean energy company. The collection, presently available for viewing online at WeiArtCollections.art, premieres its first two works in this series - both of which exude a rare magnificence. "We've taken one of the most well-known, future-forward brands in the world and used it to create artwork that commands attention," said Jean Marquette of Wei Art Collections. "Each piece of the collection is unique and will not be replicated. It is work for serious collectors that understand and appreciate their immense power and value." There are currently two volumes of the Tesla collection already completed. The untitled Volume 1 work consists of black, striking mixed-media pieces that at one and the same time will both dominate and complement its place of display with an indescribable presence. Each piece is 4'x8' and weighs 145 pounds. Volume 2, entitled 'Mars', brings a bold, yet subtle splash of color to the collection. Dynamic and contemporary, this white, black, and red work is 4'x 8' and weighs approximately 135 pounds. "The Tesla series offers discerning collectors, and corporate and technology leaders, the opportunity to obtain these one-of-a-kind works," said Marquette. "With its limited numbers and breathtaking appeal, we don't expect the pieces will be available for long. The presence of one of these works in a home, office or elsewhere clearly will declare its owner's taste and eye for brilliance." "Tesla's work is important to the future of our climate and the world," said Marquette. "Their success can be the world's success – and our artists have taken great pains to create pieces that honor Tesla's efforts through creating worthy works of art." Story continues The Tesla-series follows up on Wei's recent cryptocurrency series, a brilliant collection of pieces portraying Bitcoin and Ethereum in a manner never seen or even imagined. This new Tesla work is equally as stunning. All of the new Tesla work can be seen on Wei's website at https://weiartcollections.art/featured/ . About Wei Art Collections With offices in Dubai and New York, Wei Art Collections is amongst the premier contemporary, abstract art designers and producers in the world. Our artists are well-respected emerging talent from Asia, Europe, the United States, and throughout the world coming together to provide collectors, together with corporate and technology leaders, the opportunity to obtain choice selected one-of-a-kind works. Owning an exclusive work from WEI Art Collections, known for its precious contemporary works, will serve as an investment that will go down in history and almost certainly appreciate over time. For more information please visit https:/weiartcollections.art/ Media contact Company: Wei Art Collections Contact: Jean Marquette E-mail: info@weiartcollections.art Website: https://weiartcollections.art/ Address: Nassima Tower, 4th floor, Sheikh Zayed Road, Dubai, United Arab Emirates Tel: +971-4311-6101 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7276dc9f-1a31-4dd1-9631-753a171e515c || PayPal Embraces Crypto, Igniting Market as Mainstream Adoption Inches Closer: Crypto just got a shot at going mainstream in 2021.
PayPal officially confirmed Wednesday it is entering the cryptocurrency market. The payments giant, with 346 million active accounts around the world, pledged to make cryptocurrency “a funding source for purchases at its 26 million merchants worldwide.”
• PayPal said buy, sell and hold features would be live within the next few weeks butfor some users, the features are already available.
• PayPal’s servicedoes not allowbitcoin or other cryptocurrencies to be withdrawn or deposited. Once you buy the coins, they stay in your account until you sell.
• Initially, the service supportsbitcoin(BTC),bitcoin cash(BCH),ether(ETH) andlitecoin(LTC).
• This is a developing story; stay tuned for updates with full coverage below.
Bitcoin and other cryptocurrenciesralliedfollowing the announcement, which is one of several recent signs this year of mainstream corporate adoption of the decade-old technology, following MicroStrategy’s$425 million deploymentof its cash surplus into bitcoin and asimilar but more modestmove by Square.
Related:Baby Steps or Handcuffs? Crypto Pros Assess PayPal’s Bitcoin Play
CoinDeskfirst reportedPayPal was planning a move into crypto in June, citing anonymous sources. A month later,CoinDesk reportedthe Paxos exchange had been selected to support PayPal in its crypto endeavors.
Ina blog postWednesday, PayPal said the COVID-19 pandemic had driven the need for digital payments of all sorts, although the move had been in planning since at least late last year, and following PayPal’s short-lived dalliance with the Facebook-spawned Libra project.
Beginning in early 2021, PayPal customers will be able to instantly convert their selected cryptocurrency balance to fiat currency, with certainty of value and no incremental fees, PayPal said. Its merchants will have no additional integrations or fees, as all transactions will be settled with fiat currency at their current PayPal rates.
“In effect, cryptocurrency simply becomes another funding source inside the PayPal digital wallet, adding enhanced utility to cryptocurrency holders, while addressing previous concerns surrounding volatility, cost and speed of cryptocurrency-based transactions,” PayPal said.
Related:Litecoin Surges After PayPal Includes It Among the Cryptos Customers Can Buy, Sell, Hold
As bullish for the bitcoin market as this announcement has proven to be, an initial review of PayPal’s crypto services terms underscores that a go-it-slow mindset still pervades. Critical caps limit who buyers are, how much they can buy and what they can actually do with their PayPal-sourced crypto.
For starters, PayPal is refusing to hand over customers’ keys.
“You own the Cryptocurrency you buy on PayPal but will not be provided with a private key,” PayPal wrote in a help post. PayPal casts the restriction as a loss-prevention tactic.
A customer losing private keys makes his or her underlying crypto pretty much gone for good, the post points out. While users will not be liable for “unauthorized” crypto transactions on their account (think: hacks), PayPal appears to have no interest in mitigating sloppy private key management.
But keeping keys away from customers ensures PayPal can maintain a tighter grip on how customers wield BTC, BCH, LTC and ETH.
Crucially, users will not be allowed to send their crypto around.
“You can only hold the Cryptocurrency that you buy on PayPal in your account. Additionally, the Cryptocurrency in your account cannot be transferred to other accounts on or off PayPal,” the help page says.
This prompted the inevitable Eagles “Hotel California” song reference (“You can check out anytime you like/but you can never leave”) on crypto Twitter:
The service rollout also faces a series of real-world restrictions. Only 49 out of 50 U.S. states have coverage at launch, with Hawaii, a notoriouslytricky state for crypto companies, excluded from the list.
“We plan to expand this service to select global markets in the first half of 2021,” PayPal said.
There’s also a $10,000 weekly buying cap and a $50,000 limit per 12-month period. All trades must be executed in U.S. dollars, PayPal said.
As part of Wednesday’s formalities, the New York State Department of Financial Services (DFS), said it had granted the first “conditional BitLicense” to PayPal for a partnership with Paxos Trust Company, enabling customers to buy and sell cryptocurrencies.
DFS said it was making good on a promise last year from Superintendent of Financial Services Linda A. Lacewell to take a fresh look at its regulatory framework for virtual currencies, with a view to fostering innovation in New York State.
“DFS’s approval today follows our June 2020 announcement for a new framework for a conditional Bitlicense to encourage, promote and assist interested institutions to have a well-regulated way to access the New York virtual currency marketplace in a way that is both timely and protective of New York consumers, through partnerships with New York authorized virtual currency firms,” said Lacewell in a statement.
“DFS will continue to encourage and support financial service providers to operate, grow, remain and expand in New York and work with innovators to enable them to germinate and test their ideas, for a dynamic and forward-looking financial services sector, especially as we work to build New York back better in the midst of this pandemic,” she said.
Now, with the DFS’s approval, New York State-chartered Paxos will be able to provide trading and custodial services to PayPal to allow the fintech giant’s 346 million customers to buy, sell and hold bitcoin, bitcoin cash, ether and litecoin, according to the DFS statement.
Since 2015,DFS has approved 26 entitiesto engage in virtual currency business in New York State, including PayPal.
Read more:PayPal Picks Paxos to Supply Crypto for New Service, Sources Say
Update (Oct. 20, 15:08 UTC):Added details to introductory paragraphs and a section detailing the strict limitations on what PayPal users can do with their crypto.
• PayPal Embraces Crypto, Igniting Market as Mainstream Adoption Inches Closer
• PayPal Embraces Crypto, Igniting Market as Mainstream Adoption Inches Closer || Blockchain Bites: Bitcoin Crosses $11K While DOJ Takes Aim at Crypto: Ethereum’s success drives imitation.
Just take a look at the latest report from the crypto-industry publication DappRadar: In the third quarter of 2020, Ethereum accounted for 96% of the total transaction volume over decentralized applications, including the blockchain-based trading and lending networks that have exploded in popularity in recent months.
Prices forether(ETH), the Ethereum blockchain’s native token, have nearly tripled in 2020 to about $350. Such returns make better-knownbitcoin’s52% year-to-date gain look paltry.
Related:Money Reimagined: Fixing the Internet's Big Flaw
But success has brought a slew of problems, such asnetwork congestionthat has slowed down transaction processing and pushed up average fee rates to record levels.
Ethereum’s 2.0 upgrade is supposed to boost processing speeds to 1,000 to 4,000 transactions per second, but for now the grumbling abounds. “Scalability has been a critical issue for Ethereum,” the analysis firmIntoTheBlocknoted this week in a blog post.
All this creates an opening for competitors that are nowhere near ready to concede Ethereum’s first-mover advantage as the dominant smart-contract blockchain.
Related:First Mover: Bitcoin Hits $11K as Square Exposes $2.3T Corporate Money Pot
The list of challengers isn’t short. In no particular order, there’s Tron, EOS, Neo, Polkadot, Algorand, Cardano and Avalanche, among others. According to the data firm Messari, no fewer than 17 of these blockchains have tokens that trade, with market values of at least $100 million each.
Over the past year, Zilliqa’s ZIL token has returned the most, gaining 73% versus ETH. On the other end of the spectrum, EOS’EOStokens are down 56% in ether terms.
Some rivals aren’t looking to take on Ethereum per se, but are keen on stealing lucrative parts of the franchise.
Radix DLT says it’s one such firm – a blockchain built with the express purpose of becoming a home for the fast-growing cryptocurrency subsector of decentralized finance (DeFi).
CEO Piers Ridyard told CoinDesk in an interview this week that Ethereum’s one-size-fits-all model probably doesn’t cut the unique technical requirements of DeFi, and that’s crucial if operators are going to scale their platforms to the point where they could plausibly start to challenge big banks and Wall Street trading firms.
Ridyard is scheduled to appear on a virtual panel on Thursday, Oct. 14, at CoinDesk’sinvest: ethereum economyconference, alongside Roham Gharegozlou of Dapper Labs. CoinDesk tech reporter Will Foxley is hosting. It’s at 5 p.m. Eastern time.
Ridyard said he’s not worried about Ethereum breaking away. The industry still has a long way to evolve, and there’s plenty of time to catch up or overtake the market leader.
“Technology moves at a breakneck speed and mind-numbingly slow pace at the same time,” Ridyard said. “Fundamentally we are still in the concrete-pouring phase of the industry.”
The Fees Are Too Damn High: DeFi Pushes Ethereum to Its LimitEthereum has delivered many mind-boggling innovations – some by design, others out of necessity. With DeFi pushing the ecosystem, existing infrastructure is being maxed out. Can Ethereum 2.0 address these pain points? Is this the opportunity for so-called “Eth Killers”? We assess this critical fork in the road as Ethereum looks to level up.
Join MakerDAO’s Rune Christensen, NEAR Protocol’s Illia Polosukhin and Framework Ventures’ Michael Anderson for alive stream startingat9:30 a.m. ET.
$1B BTCAtinvest: ethereum economyon Oct. 14, we will address the ramifications for investors as decentralized finance takes the crypto world by storm.
In a run-up to the event, our two-partCoinDesk Live: Inside the Ethereum Economyvirtual miniseries introduces trending narratives we will break down at the main event: Why all the hype behind yield farming and food-inspired tokens? Should investors take them seriously or are they a fading trend?
Whether it’s wBTC, renBTC or tBTC, tokenized bitcoin is the hottest thing on Ethereum right now. A phenomenon that hardly existed at the beginning of this year has pushed the total value locked in bitcoin past $1.3 billion.
On Oct. 12, CoinDesk markets reporter Zack Voell discusses the yield farming phenomenon with Matt Luongo of Thesis, Jeff Garzik of Bloq, Loong Wang of Ren Project and Kiarash Mosayeri of BitGo.
WatchBitcoin’s $1 Billion Crop: Why Hodlers Are Harvesting Yield on EthereumonOct. 12, streaming on CoinDesk.com, Twitter and YouTube.
Non-fungible tokens (NFTs) are the latest decentralized tools to send the Ethereum economy into warp speed. NFTs are ways to append real-world or digital objects to a blockchain, usually Ethereum.
First brought to public consciousness in 2017 with the success of CryptoKitties, the sector is still largely focused on the goofy and surreal – there’s a booming art world, gaming sector and now even a place to itch yourNSFW desires.
Brady Dale was the first to break down why and howNFTs got roped into the decentralized finance craze.
NFTs have not captivated investor attention until quite recently because lending, borrowing and risk management – what we now call DeFi – have taken up all Ethereum’s oxygen in 2020. So Ethereans largely lost interest in NFTs there for a while – and who could blame them? You could buy them and sell them, and sometimes games would come together, but they seldom held players’ attention for very long. There were more dynamic markets to game; art’s fine but money is money.
Even when there had been buzz, some projects would rise up only to fade away, revealing a weakness in the NFT specification. CryptoStrikers, for example, a sports memorabilia project launched during the World Cup is long gone (soccer-focused Sorare has emerged in its wake).
Why is the marriage of non-fungible tokens (NFTs) and decentralized finance (DeFi) happening now? It’s debatable but you can make an argument that it comes back to DeFi’s favorite robo-advisor for yield: Yearn.Finance.
When the DeFi gateway created Y.Insure, a way to do KYC-free insurance on any crypto asset, it used NFTs to represent the policy with insurers. So, once reminded of ERC-721’s existence by DeFi’s top Chad, the industry ran with it.
That’s the short story, the long story involves the financialization of these tradable assets.
FinancializationAs much as people like owning expensive stuff in crypto, they like owning stuff they can sell whenever they want even more (call it a liquidity fetish). NFTs had managed to be expensive but they had not managed to be liquid, not until DeFi-thinking intervened.
The stranger products are emergent phenomena of that financialization. Brukhman gave the example of Ark Gallery, which is a DAO for CryptoPunks. The punks were made pre-ERC-721 and have become quite valuable as early, cool and rare (there are only 10,000 such punks, each completely distinct). Ark allows people to crowdfund a punk (owning a fraction of the token) and then voting on whether or not to sell it if there’s an offer.
If there is a successful offer, everyone gets a proportionate share of the payment, based on how much they own. This has made CryptoPunks trade at ever-higher prices, allowing more people to feel like they had a piece of one. It’s clear that the spikes in volume have gone much higher this year when viewed on NFT data site NonFungible.com.
NIFTEX has taken that even further. Launched early this year with funding from Digital Currency Group (CoinDesk’s parent company), NIFTEX started off creating indices for NFTs, such as digital real estate or digital cards. But the real innovation kicked off when the firm fractionalized expensive NFTs into what it calls shards (really, just ERC-20 tokens – fungible slivers of previously singular digital assets).
The shard system works somewhat like what Ark Gallery does, except only someone who holds one of the ERC-20 tokens that represents partial ownership of an item can make an offer. The offer automatically succeeds if it fails to receive enough objections in two weeks, with a clever strategy built in to punish low-ball bids.
NIFTEX did its first fractionalization in May and, like Ark, the firm is seeing a lot more liquidity. Shard holders own a fractionalized, extremely rare Axie Infinity card called Almace that saw over 1,000 ETH transacted in its first week after sharding. Joel Hubert, one of the two co-founders, estimated its liquidity all year would have been more like 300 or 400 ETH in a few trades, without sharding.
On NonFungible, Axie Infinity shows appreciably more dollars getting transacted even if the volumes are only bumped up slightly.
“I like where we’re at because Ethereum is all about experimentation,” Hubert said.
The larger point to all of this is that content is finding a path to fair remuneration on the internet.
Added Flamingo’s Desai, “When you start talking about how content creators are paid, that’s where DeFi comes in; and when you start talking about property of creators, that’s all NFTs.”
While NFTs are usually written off as merely game pieces, like all decentralized technologies they have the power to bring financial services to the un- or underbanked. Just as the technology transcends particular blockchains, so too can it move beyond borders.
Leigh Callon Butler, a CoinDesk columnist and director of the consulting firm Emfarsis, wrote about an NFT game Philipinos turned to for making money during the coronavirus shutdown. (This excerpted essay waspublished first in August.)
In the Philippines, one popular blockchain-based game is even providing pathways out of poverty and helping spread the word about novel technology. Created by Sky Mavis, a Vietnamese startup, Axie Infinity is a decentralized application (dapp) on the Ethereum blockchain where players breed, raise, battle and trade adorable digital critters called Axies.
Ijon Inton, an Axie player from Cabanatuan City, which is about 68 miles north of Manila in the province of Nueva Ecija, first learned about it in February of this year when his friend stumbled across an explainer video on YouTube. Intrigued by the “Play to Earn” element of the game, he decided to give it a go.
“At first I just want to try its legitimacy, and after a week of playing I was amazed with my first income,” said Inton, who is currently earning around 10,000 PHP ($206) per week from playing the game around the clock.
Inton soon invited his family to play, too, and after a few weeks, he also started telling his neighbors. A crypto trader since 2016, Inton helped his friends set up a Coins.ph account so they could buy their first ETH and get started. Now, there are more than 100 people in his local community playing to earn on Axie, including a 66-year-old grandmother.
The COVID-19 crisis, which has confined people to their homes and limited the usual opportunities to earn an income, combined with the compelling nature of the Axie game itself, has encouraged people who might not usually play with dapps to do just that.
“To a crypto investor, gaining $300 or $400 a month might not mean that much, but for these people it means the world,” said Gabby Dizon, the Filipino co-founder of mobile app development company Altitude Games. “It’s food on the table, it’s money for their families and it’s saving them when they cannot even leave the house during this pandemic.”
There are a number of ways to make money with Axies. For new players, the most common method is by earning the utility token, small love potion (SLP), and selling it via a liquidity pool at the decentralized trading platform, Uniswap. Issued as a reward when Axies win battles, SLP is in demand because it’s required to get a couple of Axies in the mood to breed.
Chatting with me via Zoom, Inton explains how earning SLP became his full-time job. Before COVID-19, the plan was to move to Japan and take up a new career as a trainee butcher. This is a common story for many Filipinos. Faced with a lack of job opportunities, they are forced to leave their families and seek employment abroad.
Inton was due to fly out in May. But now, with international travel suspended, he is stranded back home in the province. Behind him, I can see his wife nursing their baby in one arm, and in the other she’s playing one-handed Axie on her mobile phone. Each day they play around 20 hours combined, taking it in shifts.
She does four hours in the afternoon and another six around midnight, while he plays in the morning for eight hours and another two before bed. Together, they can rack up around 1,500 SLP per day, while sharing the caring duties for their three children aged six, four and 18 months. Currently, SLP is trading for under 2 PHP, but on June 8 it went as high as 11 PHP.
For more seasoned players, or those with greater risk appetite, higher returns can be made by trading the Axies themselves. Inton has dabbled in this space, breeding Axies and selling them for as much as 2,000 PHP ($41). Just last week, two very rare Axies were sold for 60 and 90 ETH. The highest price ever fetched for a single Axie currently sits at 110 ETH.
To put this kind of money into perspective: Since the first round of quarantine was enforced on the main island of Luzon, national unemployment has risen to an all-time high at 17.7% (compared to 5.1% a year ago) and GDP shrank 16.5% for the same period.
Further, with more than 100,000 overseas Filipino workers repatriated, the Asian Development Bank has estimated remittance losses somewhere between $31.4 billion and $54.3 billion this year. Last year, remittances made up over 10% of Philippine GDP – acting as a crucial lifeline for poor families, especially during a crisis.
Back to the theme of Brad Keoun’s introduction: the competition between various smart contract blockchains. Ethereum is certainly the dominant player, but it would be a mistake to see all alternative base layers as vying for the same pie.
Brady Dale covered the run-up to theReady Layer Oneconference last spring, which sought to find common ground between the base layers.
Togetherness is the message of Ready Layer One, a conference put together by the Web3 Foundation, Near, Cosmos, Tezos, Protocol Labs and Polkadot, all entities involved in building new blockchains designed to serve as the primary layer for distributed applications. Other blockchain projects may yet join.
The website describes the virtual gathering as follows: “Think of it as the intersection between a hackathon, a conference, a MasterClass seminar and a vaguely anarchist festival for developers and builders of a decentralized web.”
Ready Layer One reflects a big-tent approach to blockchain gatherings, not unlike CoinDesk’s own Consensus, which is also going virtual this year. While most gatherings tend to be protocol-specific, Ready Layer One is taking a more agnostic approach.
The event represented a combined effort to galvanize those already in the ecosystem to work on some of their shared problems together. CoinDesk recently reported on the idea of blockchain interoperability as a vision in which there will be “one network, many chains.”
“We think of blockchain technology as a public good to build a more open and innovative world, but it’s unclear yet what technologies and set of trade-offs really works,” Illia Polosukhin, a co-founder of NEAR, said.
Featuring two of the best-known interoperability projects, Cosmos and Polkadot, Ready Layer One reflects a real-world example of at least part of the industry betting that a rising tide will lift all boats.
Chris Ghent, from the marketing team at TQ, an organization working to advance the Tezos blockchain, said, “We don’t need people to commit to one thing but to commit to blockchains [in general].”
The target audience for the event is developers, and there’s no cost to attend. Participants just need to demonstrate some skin in the game either by showing they’ve already done blockchain work or by participating in the testnets, hackathons, staking demonstrations and other open calls issued by the organizing protocols.
Hands on“The founding projects, they all have stuff that’s ready to go,” Zaki Manian, co-founder of a Cosmos-oriented staking company called Iqlusion said. “You can build with it and play with it right now.”
TQ’s Ghent sounded a similar note, saying the pitch really is to draw in what he called “qualified tinkerers.”
“If I want to build something on Cosmos, and Cosmos dies, can I build a similar thing on NEAR?” Manian said by way of example. The answer, he thinks, is yes, and if Ready Layer One can show that to developers, then those devs will see less risk in choosing to build on any of the Layer 1 networks.
There’s also going to be an element of dealing with cross-chain challenges, according to Ashely Tyson, who is helping to organize the event on behalf of the Near protocol.
“There are a few topics that cross all of the protocols that we’re going to be compiling themed workshops and mainstage talks around,” Tyson said. Before the world shut down, Near had been organizing small gatherings to discuss some of these issues, such as standards for using existing open source technology (like WebAssembly) in a blockchain context and efficiently keeping interoperability in mind.
There will be some updates on these topics and also calls for developers to get involved in research and development that should benefit all the projects.
Blockchains have potential but no one disputes that it’s not yet fully realized.
Poloshkin spoke to frustrations that the technology is not really ready to help in the current crisis. “The technologies we are all working on have an ability to help and change things in the coming months and years. But we are still far from the state where it can be used by the mass market,” he said.
Employees walkCoinbase has lost60 people from its 1,200-person staff after an updated mission statementfrom CEO Brian Armstrong sparked fierce debate over how companies should respond to today’s charged politics. In a companywide memo obtained by CoinDesk, Armstrong informed employees that 5% of the company’s workforce had accepted the severance package offered last week. The deadline for employees to signal their interest in the package was Wednesday, and Armstrong said he expects the number to be higher after a “handful of other conversations” are completed.
Crypto frameworkThursday, U.S. Attorney General William P. Barr announced the release of “Cryptocurrency: An Enforcement Framework,”a roadmap for policing the cryptocurrencylandscape. The framework provides a comprehensive overview of theemerging threats and enforcement challengesassociated with the increasing prevalence and use of cryptocurrency, Barr said. “Despite its relatively brief existence, this technology already plays a role in many of the most significant criminal and national security threats our nation faces,” said Associate Deputy Attorney General Sujit Raman, chair of the Cyber-Digital Task Force, which wrote the report.
Bitcoin bites backBitcoinbroke through $11,000on Friday, reaching itshighest pricein almost three weeks. The rise comes a day after payments company Square announced it had put 1% of its total assets into the largest cryptocurrency by market cap. The rally to $11,000 marked an upside break from the past two week’s range of about $10,500 and $10,800, a range the cryptocurrency held despite news of the KuCoin exchange hack, U.S. regulators bringing criminal and civil charges against BitMEX and President Donald Trump’s announcement he would end talks with Democratic lawmakers over a new fiscal stimulus package.
Core CBDC principlesA group of seven central banks along with the “central bank for central banks” has released a report setting out the“core principles” for how national digital currencies can helpimplement monetary policies. Prepared by the central banks of Canada, the U.K., Japan, Sweden and Switzerland, as well as the Federal Reserve, the European Central Bank and the Bank for International Settlements (BIS), the report states CBDCs should work alongside cash and other current payments, support “wider policy objectives” and “do no harm” to monetary and financial stability, and “promote” innovation and efficiency. Meanwhile, the Dutch central bankgave its first approval to a crypto exchange.
Lightning strikesA vulnerability in LND versions 0.10.x and belowhas been disclosed to the Lightning Labs team,according to engineer Conner Fromknecht in the Lightning Network developer channel Thursday. In light of the disclosure, the firm is urging node operators to upgrade to versions 0.11.0 or higher as soon as possible. No known exploitations of the vulnerability have been found to date, but “circumstances surrounding the discovery resulted in a compressed disclosure timeline,” Fromknecht said. The vulnerability was “partially” disclosed with a detailed publishing of the findings promised Oct. 20.
• Binance UK Director Departing After Less Than 6 Months(Ian Allison/CoinDesk)
• Blockchain Goes to College(Jeff Wilser/CoinDesk)
• Brave Is Now the Top-Rated Browser on Google Play Store(Will Heasman/Decrypt)
• New Ethereum Fee Model Has Some Miners Crying Foul: Survey(Will Foxley/CoinDesk)
• CryptoKitties, NBA Top Shots move onto Coincheck exchange(Adrian Zmudzinski/Modern Consensus)
• Blockchain Bites: Bitcoin Crosses $11K While DOJ Takes Aim at Crypto
• Blockchain Bites: Bitcoin Crosses $11K While DOJ Takes Aim at Crypto || In the CBDC Race, It’s Better to Be Last: Is America being left behind? China is on the verge of issuing a central bank digital currency (CBDC) while America twiddles its thumbs. America needn’t worry. While it may look like a slacker, its approach to digital currency is probably the right one. J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and a financial writer at a large Canadian bank. He runs the popular Moneyness blog. Related: Mastercard President Says Crypto Patents Will Pay Off When Central Bank Digital Currencies Arrive That’s because there is no first-mover advantage to issuing a central bank digital currency. With many products, being the first out the door is important to achieving brand dominance. But central bank digital currency is characterized by last-mover advantage, not first-mover advantage. Best to sit back and learn from the less-patient central banks as they struggle with their new digital projects. What is a CBDC? Central banks currently offer digital payments, but only to banks and other financial institutions. Their interaction with the public has been limited to paper money. A central bank digital currency, or CBDC, would provide everyone with an opportunity to get access to a digital version of central bank money. You or I could hold digital Federal Reserve dollars or Bank of Japan yen in our digital wallets and use these balances to buy coffee. For years, CBDC has remained a theoretical construct of white papers and central bank thought-pieces. But recently the People’s Bank of China began to pilot a CBDC, Sweden is working on a proof of concept, and the Bahamas launched its “sand dollar” CBDC project. See also: Marcelo M. Prates – The Big Choices When Designing Central Bank Digital Currencies Related: Crypto Is Less Scary Than Halloween Jerome Powell, the head of the U.S. Federal Reserve (“the Fed”), has been reticent. Commenting on CBDC recently, Powell said it is “more important to get it right than to be first…” Story continues Powell’s approach is the right one. No first-mover advantage Typically there are significant advantages to being first to market. Take Bitcoin , for instance. While there are many technically superior blockchains to Bitcoin, Bitcoin was the first. Thus it had many years to build up its brand and attract a network of users, all advantages that better coins simply cannot replicate. Central banks, however, are monopolies. While commercial banks and payment companies like PayPal are big producers of digital dollars, central banks can manufacture something that these private actors cannot: risk-free legal tender. So lacking competition, central banks can afford to be slow. See also: Ajit Tripathi – 4 Reasons Central Banks Should Launch Retail Digital Currencies Nor is it necessary for the U.S. to have a CBDC in place to protect the dollar’s international dominance from a digital Chinese yuan. What glues everyone to the dollar is a combination of an incredibly powerful banking vortex in New York City and America’s massive economy, not the medium on which dollars are printed. So the Federal Reserve should be in no rush to go first. It may even have good reasons to be last. Risky business A classic strategy in bicycle racing is to let others lead. The burden of breaking wind resistance falls on the leaders while followers conserve energy. This same analogy applies to traveling down the risky road to CBDC. To begin with, we don’t know what the effects of issuing a CBDC might have on the traditional banking system. Some economists worry that it will magnify banking runs during crises as panicking depositors flee banks into 100% safe central bank digital currency. See also: Igor Mikhalev and Kaj Burchardi – Central Bank Digital Currencies Need Decentralization Nor do we know if the public even wants a new payments system. Finland’s central bank introduced the Avant smart card system in the early-1990s, but it didn’t survive. This presaged the ensuing failure of smart card-issuer Mondex in the late 1990s. A CBDC flop could undermine confidence in the most important thing that a central banker like Powell does, monetary policy. America already has fast payments Some of the stated benefits of CBDC aren’t all they’re cracked up to be. For instance, Christopher Giancarlo, head of the Digital Dollar Project, has suggested that a CBDC would offer Americans a “new choice” of transacting instantaneously, one that could have improved on America’s awkward $1,200 coronavirus relief campaign from earlier this year. But America doesn’t need a CBDC for instant relief payments. New networks such as Zelle, MasterCard Send, Visa Direct, and The Clearing House’s Real Time Payments system are all blanketing the U.S. with real-time, domestic, person-to-person payments. The Fed’s own FedNow project, slated to arrive in 2024, will add to this capacity. On the international front, companies like Transferwise and Western Union are already doing real-time remittances from the U.S. to places like India, no CBDC required. And Swift’s gpi is speeding up corporate cross border payments. A PR minefield The list of obstacles continues. Up till now, the Fed hasn’t had to interact with the public. With a CBDC it would have to devote resources to understanding fickle consumers. What features do they want? How to market the stuff? Serving consumers means setting up helplines and customer support. What happens with fraud or mistaken payments? Will the Fed reverse them? Reimburse them? If so, it will have to build up an expertise in dispute resolution. What happens the first time someone asks for a ransom in CBDC? Will the Fed freeze the payments? Designing and maintaining a retail-facing payments system would be a political minefield. Libertarians would want anonymous transactions while the FBI would clamor for traceability. Progressives would want financial inclusion to be maximized while Republicans would call for a minimum national ID requirement to block out immigrants. The Fed already has a complicated relationship with Congress. Why compound the problem? See also: JP Schnapper-Casteras and Misha Guttentag – The US Risks Getting Left Behind on CBDCs Given all these complications, the prudent choice is to let the others go first. Join the discussion over CBDCs. Be loud. Issue white papers and hold conferences. But do so mainly to egg the others on. Let Europe, Sweden, the U.K. or Canada become guinea pigs for this new technology. Then closely monitor the many political, legal, and technological problems these early adopters inevitably encounter. If these problems prove intractable, then the Fed should avoid CBDC altogether. If not, think about ways to solve these problems. By going last, the Federal Reserve has the benefit of the most information. But at all costs, avoid being the first. The problem with a game in which no one wants to go first is the game never gets going. If CBDC is ever going to happen, it needs some reckless first movers. Related Stories In the CBDC Race, It’s Better to Be Last In the CBDC Race, It’s Better to Be Last || Skyledger Tech Corp. Announces Amended Deadline to Enter into Definitive Agreement in Connection with Proposed Transaction to Acquire Yukon Properties: Vancouver, British Columbia--(Newsfile Corp. - November 17, 2020) - Skyledger Tech Corp. (CSE: SKYL) (the "Company" or "Skyledger") announces that, further to its news release dated October 15, 2020 wherein it announced a transaction (the "Transaction") with 18526 Yukon Inc. (the "Vendor") pursuant to which Skyledger will acquire certain mining claims located in the Yukon, it has entered into an amending agreement with the Vendor extending the time by which the parties must enter into a definitive agreement (the "Definitive Agreement") in connection with the Transaction and complete due diligence from November 17thto November 30th.
Further Information
Further details about the Transaction will be provided in a comprehensive news release when the parties enter into the Definitive Agreement.
Investors are cautioned that any information released or received with respect to the Transaction in this news release may not be complete and should not be relied upon.
Completion of the Transaction is subject to a number of conditions, including but not limited to, Canadian Securities Exchange and shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
The Canadian Securities Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.
The securities to be issued in connection with the Transaction have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Skyledger Tech Corp.
Skyledger is a Bitcoin mining company that gives shareholders access to the potential price appreciation of Bitcoin. The Company currently owns ASIC S17 and S9 Rigs that are located in Gibsons, British Columbia.
On behalf of the Board of DirectorsJames LiangChief Executive Officer(604) 681-0911
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company's completion of the Transaction as well as its future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks and uncertainties relating to the Company's ability to complete the proposed Transaction; and other risks and uncertainties. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/68407
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-05-26]
BTC Price: 39294.20, BTC RSI: 37.57
Gold Price: 1901.30, Gold RSI: 76.72
Oil Price: 66.21, Oil RSI: 57.50
[Random Sample of News (last 60 days)]
Bitcoin millionaire puts money on Greens in German election: BERLIN (AP) A German software developer who made a fortune from bitcoin has given the environmentalist Green Party one of the biggest political donations in the country's history in hopes it will win this year's national election and consider banning the digital currency. Moritz Schmidt's donation of 1 million euros ($1.2 million) to the Greens made headlines this month, as the party traditionally receives only small sums. Such a large gift is rare in German politics. Parties in the country receive most of their funding from members' dues and state aid linked to election results. I have benefitted immensely from the bitcoin bubble. Its been a wild ride, and the proceeds are unearned riches really, Schmidt told The Associated Press in an email interview this week. Ive been sort of waiting for the right opportunity to donate a larger sum. The 39-year-old from the northeastern town of Greifswald, who hadn't previously featured on any lists of major political donors, said he bought a couple thousand euros worth of bitcoin in 2011, shortly before it crashed, wiping 90% off the value of his holdings. Since then, bitcoin and other cryptocurrencies have repeatedly surged and slumped on investors hoping to turn a quick profit. The value of a single bitcoin has dropped from over $64,000 to about $50,000 in the past ten days. Schmidt, who made about 2 million euros ($2.4 million) by gradually selling his bitcoin over the years, said he learned in 2017 that the virtual currency consumes a vast amount of electricity. While the details are hotly debated by bitcoin fans and critics , experts say the power required to generate and trade cryptocurrencies is considerable. Being an energy hog is built into the bitcoin system, said Schmidt. The Greens advocate strong environmental policies to curb greenhouse gas emissions and fend off the threat of climate change. Schmidt, who is cautious about the Greens' prospects of winning the election outright despite their current high poll ratings, says he decided to help fund their campaign rather than donate toward an environmental project because giving it to a political party that has environmentalism as its core value will have a much bigger impact." Story continues The Greens nominated 40-year-old lawmaker Annalena Baerbock as their candidate Monday to succeed long-time conservative leader Angela Merkel as chancellor in the Sept. 26 election. While the party doesnt mention bitcoins environmental footprint in its program, it does want such currencies to be traceable making bitcoin less attractive to many of its fans. I dont think regulation will do anything unless it crashes the price down to levels that make bitcoin uninteresting as an asset and unusable as a global currency, said Schmidt. I believe that, in effect, bitcoin will need to be banned. Schmidt dismissed comments that suggested he might be trying to redeem himself for having traded in the cryptocurrency. Had I looked for absolution, Id have turned to the Catholic Church, he said. ___ Follow AP's coverage of climate change: https://apnews.com/Climate || ETH Reaches All-Time High In Anticipation Of Berlin Fork: A hard fork for Ethereum (ETH) will occur on April 14 . The fork is named Berlin . It will materialize at block 12,244,000. ETH has reached a new all-time high price on April 13. It is expected to continue increasing towards the targets provided below. Weekly ETH movement In the first week of February, ETH reached a new all-time high price. After returning to validate the previous resistance as support (green arrow), it continued to move upwards. So far, it has reached a new all-time high of $2229, doing so on April 13. Technical indicators are still bullish. The RSI has just crossed above 70. The MACD and the Stochastic oscillator are both increasing. Therefore, it is likely that the long-term trend is bullish. Chart By TradingView Ongoing Breakout The daily chart supports the findings from the weekly one. ETH has broken out from a descending resistance line and reclaimed the $1950 are afterward. Similar to the weekly time-frame, technical indicators are bullish. Therefore, the token is expected to continue moving upwards. If it continues doing so, the next resistance would be found at $2500. This is the 1.61 external Fib retracement of the most recent downward movement. Chart By TradingView ETH Wave Count The wave count indicates that the token is in wave five of a bullish impulse that began in March 2020. The sub-wave count is given in orange. It suggests that the current price movement is part of sub-wave three. A potential target for the top of this sub-wave is found at $2915. This would give sub-waves 1-3 a 1:1.61 ratio. Afterward, a potential target for the top of the entire upward move would be found at $3040. Nevertheless, the final target depends on the actual high and low of sub-waves three and four. Therefore, it cannot be accurately determined at the current time. Chart By TradingView Conclusion To conclude, the ETH trend is bullish in both the long- and the short-term. Due to this, a potential target for the top of the current movement is found between $2915-$3040. For BeInCryptos latest bitcoin (BTC) analysis, click here. || Is the Bitcoin-Ethereum 'Flippening' a Likely Scenario?: It has been a bad week for the crypto space. Elon Musk is widely believed to play a major role in crashing Bitcoin’s price by $12k when hetweetedthat Tesla will no longer be accepting Bitcoin. He framed this backtracking as an environmental concern due to the high levels of energy consumption required in Bitcoin mining. As a result, this had a cascading effect on almost all altcoins with very few exceptions.
To set the record straight, it is very difficult to portray Bitcoin as an ecological problem. Not only do miners use renewable sources at a rate over 70% across all continents, but when put into context with other sectors, Musk’s notorious tweet makes even less sense.
Source: Hass McCook Medium
Based on this, The situation has resulted in a number of different ideas floating around as to why Musk made this decision. Some argue that the U.S. government could be the motive behind the move, as BTC could potentially threaten the USD. Remember that Musk has plenty of dealings with the government – subsidies, green credits, and a SpaceX contract. Musk, afterall, is known to leverage nearly $5 billion in government subsidies. This substantial vested interest may have exerted enough pressure for him to abandon and besmirch the predominant cryptocurrency. No doubt, his 54 million followers will remember how corrosive he has become, eroding the wealth of millions. Interestingly, the creator of DOGE, the dog coin Musk has been bizarrely obsessed about for the last half year, had no kind words to share.
In this turmoil, it is noticeable that Bitcoin brought down much of the crypto sector with it, demonstrating once again it's gravitic force on the crypto ecosystem. However, what is also noticeable is that some projects have gone up, and they are all related to smart contracts. Cardano (ADA) is a highly anticipated direct competitor to Ethereum, promising more scalability and smart contracts with the Alonzo upgrade.
See also:How to Buy Ethereum (ETH)
Ethereum is fast-closing to its full Proof-of-Stake (PoS) transition with the upcoming London hard fork. Together with Binance Smart Chain and Polygon (Matic), they have all outperformed Bitcoin during the last month, in terms of percentage price gains when paired with USD.
Matic vs Ada vs ETH vs BTC performance (source: TradingView)
Although the current crypto downturn is significant, it bears exploring what this shift in trends means for the relationship between Ethereum and Bitcoin. More precisely, is it likely that Ethereum and Bitcoin will switch places? In other words, are we about to see the “flippening”?
Ethereum and Bitcoin Complement Each Other
If one were to describe the two largest cryptocurrencies by market cap – Bitcoin and Ethereum – the former is the guardian of wealth while the latter is a utility juggernaut. Bitcoin’s own utility is quite limited in scope. It can serve as a payment method, but it has instead become a store of value, with Bitcoin Cash (BCH) and Litecoin (LTC) taking the lead as more suitable crypto payment methods.
As you can see on the chart below, out of the four cryptocurrencies, Bitcoin and Ethereum are aberrations in terms of average transaction fees.
BTC vs ETH vs LTC vs BCH transaction fees (source: bitinfocharts.com)
Outside of being more popular, Bitcoin owes this drastically higher transaction fee, compared to BCH and LTC, to its block size of only 1 MB. This design decision cleared the way for the phenomenon of Bitcoin “hodling”, making it a digital asset akin to gold that draws its value as a hedge against inflation.
On the other hand, Ethereum’s 76% higher fee than even Bitcoin should be a thing of the past by the year’s end. Ethereum is slowly progressing from the less scalable Proof-of-Work consensus toward Proof-of-Stake, leaving behind congestion and enormous transaction fees. This transition did not come free of cost.
Binance Smart Chain stepped in to fill the congestion gap, achieving 600% more daily transactions than Ethereum during the same period. Such a surge in popularity from a direct competitor speaks of the treasure Ethereum holds – smart contracts. In contrast to Bitcoin, Ethereum’s blockchain is highly flexible, able to store auto-executable contracts within its data blocks. All those exorbitantly expensive NFTs that paraded across news headlines this year were mostly hosted on Ethereum.
Likewise, lending and borrowing protocols – Uniswap, Maker, Aave, Compound, and dozens of others – accumulated $75.6 billion in total value locked (TVL).
These DeFi dApps demonstrate on a daily basis that they can replace much of the existing banking infrastructure, which brings us to the key value propositions Bitcoin and Ethereum play:
• To borrow a metaphor from the world’s most popular office app, think of Bitcoin as an Excel spreadsheet. This secured and distributed record tracks the number of Bitcoins in each cell.
• Ethereum has the ability to do the same and beyond. Instead of just recording the number of crypto coins in each cell, Ethereum can build macros that interact with formulas among other cells.
However, the cost of Ethereum’s greater flexibility is vulnerability. While there hasn’t yet been a documented instance of Bitcoin’s blockchain getting compromised, the same cannot be said of the protocols built on top of every blockchain—and Ethereum has a lot of those. Flash loan attacks are the most common attack when it comes to Ethereum’s smart contracts, incurring great losses.
We have yet to see how Cardano performs when it unrolls its smart contract capability. This leaves Bitcoin in a special position that is not likely to be unseated. Together with its deflationary mechanism, limited coin supply, and incredibly strong network security, Bitcoin represents a peace of mind that no smart contract-enabled blockchain has yet to achieve.
Ethereum Is Entering Bullish Territory
With BSC getting six times the traffic of Ethereum, one has to ask which one is likely to beTheprogrammable blockchain. While Ethereum’s ongoing ETH 2.0 upgrade and still-high fees leave it wide open to competition, it has powerful winds behind its sails to eventually win the smart contract wars:
• Ethereum holds (by far) the largest pool of developers, according to Electric Capital. As a number of open source dev ops tools are available to make remote work easier through collaboration, managing developers remains a serious cog in DeFi development. Yet Ethereum and its developer community have thus far been dominant in this sense.
• In the last three years, Ethereum has widened its developer pool by 215%. Such a network effect would be exceedingly difficult to overcome.
• Ethereum is far more decentralized compared to BSC, by magnitudes of degree – there are 21 validators on BSC compared to over 70,000 on Ethereum.
• Ethereum continues to hit record low ETH token supply on exchanges, indicating that BSC popularity is transitory.
In other words, all those ETH hodlers are just waiting for Ethereum’s 2.0 transition to proof-of-stake to finalize.
• DeFi smart contracts hold almosttwice as much locked ETHthan centralized exchanges do, once again indicating high demand for Ethereum’s smart contract service.
Alongside BSC, Polkadot, Cardano, Near Protocol, and Solana are Ethereum’s top competitors, all of which have also grown substantially. Nonetheless, Ethereum has another trick up its sleeve – Polygon (MATIC). Until the ETH 2.0 upgrade completes, Matic is there to remove the congestion as a multichain scaling solution. Simply put, Polygon makes cheaper transactions possible by using Ethereum’s sidechains, which are called Layer 2 solutions.
Suffice to say, Polygon has become tremendously successful in facilitating this goal. As people try to flee high fees, Sushiswap, the competitor to Ethereum’s most popular protocol – Uniswap – managed to accrue over $350 million in TVL since it announced it will launch on Polygon. A couple of days ago, the sum increased to half a billion.
Overall, the Polygon network is currently lagging behind Uniswap by one rank, with $5.78 billion TVL compared to Uniswap’s $7.13 billion. As far as investments go, this makes the network’s native token - MATIC - enter into the 100x investment range.
(Source: TradingView)
Interestingly, one of the trending searches related to Dogecoin (DOGE) is – “will DOGE ever reach one dollar?”. Once again, the contrast between DOGE and MATIC demonstrates that fundamentals always trounce meme hype (DOGE) over the long haul.
Ethereum Is Poised to Go Up, but Not Over Bitcoin
No matter how much Ethereum is viewed as the infrastructure for digital finance, it still remains untested, with a history of smart contract hacks. While not all of this is directly Ethereum’s fault, it still affects Ethereum. On the other hand however, this cannot be said of Bitcoin. It may not be as exciting as facilitating dApps, but Bitcoin’s draw as safeguarding wealth cannot be over underestimated.
Moreover, Bitcoin is inherently deflationary, unlike Ethereum which relies on high demand to outpace inflation. This demand may bring it to a new ATH this year, but not in the Bitcoin range. As far as Bitcoin’s carbon footprint goes, this is largely a matter of perception.
Given the activity on social media, that perception is turning against Elon Musk. After all, the data is already clear that most Bitcoin miners use clean energy. In turn, this data is also clear to those who absolutely trounced Musk on Twitter, including the owner of Twitter himself – Jack Dorsey.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Making Sense Of NFT Mania: By Solomon Brown, Head of PR at Freewallet Towards the middle of Richard Power’s sprawling eco-epic, The Overstory, there is a passage where a forward-thinking, disabled video game designer gives an interview in which he is asked about the dangers of the digital gaming world flourishing at the expense of real life. The scene occurs around the turn of the 21st century, when gaming and the internet were both, relatively speaking, still in the fledgling stages of their development. The game designer’s response to whether he thought that his game was giving people an all-too-seductive means of disengaging from real life was that what his game represented was only the beginning. In the future, the designer says, “We’ll live and trade and make deals and have love affairs, all in symbol space. The world will be a game, with on-screen scores... Real life? Soon we won’t even remember how it used to go.” Of course, Powers’s book came out in 2018, so his designer’s prophecy has the benefit of having been written at a time when that vision had already come true to some degree, but two and a half years on and that vision has become much more real sooner than anyone could have predicted. The pandemic put the clamps on real life as we knew it and opened the door for a remarkable acceleration in the digitalization of our lives. Crypto picks up where the “real world” leaves off Fittingly, the spheres that have thrived during Covid have been those that give people a means of acting, working, earning and engaging in the world from wherever they may be stuck. Perhaps the most remarkable growth during this period has come from the world of cryptocurrency, where not only is the flagship currency Bitcoin currently sitting near an all-time high of more than $57,000, altcoins are up and being discussed and traded with verve. Consider this article from a couple of days ago. Even a year ago it would have been hard to imagine Nasdaq ever running a headline like, “Should you invest in Dogecoin in 2021?” But such are the times. And due to a combination of changing popular sentiment, the way that the pandemic has upended everyday life, an increase in disposable income, and popular figures getting involved, the cryptocurrency industry has been a wild place. While an unprecedented amount of institutional money has poured in, beyond that we have seen meme coins like Doge experience a prolonged surge in popularity, big names in finance like Visa and PayPal move to start accepting crypto payments and bizarre sagas in which Elon Musk turned the relatively under-the-radar exchange and wallet platform that I work for, Freewallet, into a sensation after firing off a series of tweets and J.K. Rowling took to Twitter to solicit help in understanding bitcoin. Story continues NFTs: miracles or madness The newest craze in the crypto world is undoubtedly NFTs. NFTs are everywhere now, from the pages of the New York Times to the glitzy auction halls of Sotheby’s . What are they? Well, the glib answer is, “Who the hell cares! They are worth a lot of money!” Depending on who you ask, NFTs are either a promising new vehicle of financial and artistic development in an increasingly digitalized world or the latest sign that people have collectively lost their minds. For better or worse, we live in a time when discourse around current events is driven by seemingly instantaneous judgments. A thing comes about and people feel obliged to define its substance and whether it is good or bad on the spot, and the louder the better. Despite being portrayed by many as incomprehensible, NFTs are fairly easy to understand. An NFT is a unit of data that exists on a blockchain. Each NFT represents a unique digital item, making it unique and not interchangeable. So, while digital files themselves can be reproduced infinitely, an NFT that represents a digital file is singular and tracked on a digital ledger. This enables proof-of-ownership over data units which has made the NFT market what it is today. The draw of owning an NFT is possessing proof-of-ownership of a digital file. Naturally, this translates well with works of digital art, but there is a wide variety of applications, a number of which have made the news recently. The New York Times sold one of its columns as an NFT for $560,000, a Lebron James highlight sold for $50,000 and Justin Blau has made over $17 million selling his music in NFT-form. Something in between It is hard to think that these prices aren’t a bit outrageous. They are. But does that mean that the entire NFT concept is a scam? I don’t think so. NFTs were created because there is a legitimate problem with the online digital reproduction of artistic work. The internet has opened up a lot of doors for artists to distribute their work and get noticed by people. But in order to take advantage of those opportunities, artists have to rely on middlemen and third-party platforms that host their content and make money off of their work. NFTs at least theoretically can change that by means of their scarcity. When an artist creates an NFT they are creating something that will always be singular. Copies of the digital object tied to the NFT may be made, but the NFT itself will always be unique. This was why NFTs were created, with the idea of protecting artists and creators in mind. With that being said, is it likely that we are going to see a dramatic recalibration of how artists working in digital mediums get paid anytime soon? I don’t think so. The naysayers have a point when it comes to NFTs. Namely, so what if you own the NFT tied to a particular song or painting? If anyone can go and listen to that song or view that exact painting without your permission as an owner, what worth does the NFT have? Undeniable potential The answer to both the too-fervent believers and too-jaded cynics, from where I stand is the same. It is still very early. At the moment we still don’t know how useful NFTs will prove to be. I thought of the aforementioned scene from The Overstory recently when trying to figure out how I stand on NFTs because I feel like there is a parallel between that point in time and where we are now. The idea that digitalization would occur on the scale that it has was not a foregone conclusion 20 years ago. If it had been, everyone would have bought Apple and Facebook stock. But the vision behind those companies took years to crystallize and while that was happening, the digitalization of the world picked up in pace. Digital art is a very real thing. There are plenty of examples that illustrate this, but one has to look no further than David Hockney, one of the most successful active painters, to see just how far digital art has come. Holed up in the French countryside for much of the pandemic, Hockney took to landscape painting on his iPad and produced a number of widely-acclaimed artworks. While Hockney is hardly an artist in need of the kind of protections we have been talking about, NFTs have real applications for this kind of work. We are still in the early days of cryptocurrency, let alone of NFTs. While it may go against the contemporary grain, it seems like the best course of action is to respect the enthusiasm that NFTs have engendered, without losing our minds over them, and to give them space and time to develop. They could turn out to be nothing more than a momentary blip on the radar, but the way things are going, it would be foolish to dismiss them out of hand. Benzinga's Related Links: College Athletes Should Be Able To Profit From The Sale Of Their Own NFTs. Here's How That Could Work What is a Non-Fungible Token ( NFT )? • Benzinga EBay Looking Into NFT Marketplace 4 Best Platforms to Create Your NFT On • Benzinga Edited Photo Via Unsplash See more from Benzinga Click here for options trades from Benzinga Nextech AR Virtual Experience Platform (VXP) Selected to Host the Canadian Higher Education Information Technology Conference 3 Ways a Funded Trading Account Can Help You Reduce Your Risks © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Exclusive-HSBC CEO says Bitcoin not for us: By Lawrence White and Rachel Armstrong
LONDON (Reuters) -HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its Chief Executive Noel Quinn told Reuters.
Europe's largest bank's stance on cryptocurrencies comes as the world's biggest and best-known, Bitcoin, has tumbled nearly 50% from the year's high, after China cracked down on mining the currency and prominent advocate Elon Musk tempered his support.
It marks it out against rivals such as Goldman Sachs, which Reuters in March reported had restarted its cryptocurrency trading desk, and UBS which other media said was exploring ways to offer the currencies as an investment product.
"Given the volatility we are not into Bitcoin as an asset class, if our clients want to be there then of course they are, but we are not promoting it as an asset class within our wealth management business," Quinn said.
"For similar reasons we're not rushing into stablecoins," he said, referring to digital currencies such as Tether that seek to avoid the volatility typically associated with cryptocurrencies by pegging their value to assets such as the U.S. dollar.
Bitcoin traded at $36,387 on Monday, down nearly 50% in just 40 days from its year high of $64,895 on April 14.
Pressure on the currency intensified after the billionaire Tesla Chief Executive and cryptocurrency backer Musk reversed his stance on Tesla accepting Bitcoin as payment.
However, Quinn said that he was a believer in central bank digital currencies (CBDCs), which several countries including the United States and China are working on.
"CBDCs can facilitate international transactions in e-wallets more simply, they take out friction costs and they are likely to operate in a transparent manner and have strong attributes of stored value," he said.
HSBC is talking to several governments about their CBDC initiatives, including countries such as Britain, China, Canada and the United Arab Emirates, he said.
'DIFFICULT QUESTIONS'
China's CBDC project is one of the most advanced among major global economies. City-wide trials involving state-owned banks began last year, and there is also a pilot project for cross border use underway in Hong Kong.
China is also involved in a separate project exploring CBDCs for cross-border payments, which HSBC has been involved in.
While Beijing presses ahead with central bank digital currencies, it has stepped up efforts to curb usage of cryptocurrencies.
China, which is central to HSBC's growth strategy, said last Tuesday that it had banned financial institutions and payment companies from providing services related to cryptocurrency transactions.
Reuters reported in April that HSBC had banned customers in its online share trading platform from buying shares in Bitcoin-backed MicroStrategy, saying in a message to clients that it would not facilitate the buying or exchange of products related to virtual currencies.
Quinn said his scepticism of cryptocurrencies partly arose from the difficulty of assessing the transparency of who owns them, as well as problems with their ready convertibility into fiat money.
"I view Bitcoin as more of an asset class than a payments vehicle, with very difficult questions about how to value it on the balance sheet of clients because it is so volatile," he said.
"Then you get to stablecoins which do have some reserve backing behind them to address the stored value concerns, but it depends on who the sponsoring organisation is plus the structure and accessibility of the reserve."
The soaring popularity of cryptocurrencies has posed a problem for mainstream banks in recent years, as they try to balance catering to clients' interest with their own regulatory obligations to understand the source of their customers' wealth.
(Reporting By Lawrence White and Rachel Armstrong, additional reporting by Alun John in Hong Kong; Editing by Emelia Sithole-Matarise) || Elon Musk SNL Crypto Scam Victims Beg FTC for Help: Consumers scammed by fraudulent cryptocurrency giveaways during Elon Musks SNL performance are requesting the Federal Trade Commission (FTC) help them recover their money. During Elon Musks performance on Saturday Night Live on May 8, fraudsters impersonating him posted fraudulent giveaways online. Some cryptocurrency holders were lured into sending funds to unknown accounts with the assurance of receiving back a higher return. Reported losses amount to over $2 million, although initial estimates were as high as $5 million. Now, some of these victims are appealing to the FTC to help them recover their money. FTC program analyst Emma Fletcher emphasized the hype surrounding cryptocurrencies soaring value. People dont want to miss out, and scammers want to take advantage of the information gap between their knowledge and the enthusiasm about cryptocurrency, she said. Victim testimonies Public records of complaints obtained from the FTC demonstrate the different ways scammers ensnared gullible crypto holders. One victim claimed that a fake tweet looking like Elon Musk, offered a tenfold return for sending one bitcoin, in celebration of lunch (sic) today. Another fraudster posting a special crypto airdrop by Elon Musk, promised to double the amount of crypto sent. One victim claims they sent the address 5,000 DOGE before realizing it was a scam. Other fraudsters used Musks high-profile appearance on the iconic show as a draw. I foolishly thought there was a promotional giveaway being conducted by Saturday Night Live to support Elon Musks debut to host the show, says another victim. They proceed to go to SNLMUSK.com and send 30,000 DOGE with the expectation of receiving tenfold that amount. Musks crypto influence In light of recent events, Musk doesnt need fake accounts to make people lose money on their crypto investments. Bitcoin has fallen dramatically since the Tesla CEO announced that the company would no longer accept bitcoin as payment. Within a day it fell below the $50,000 support level. Further comments from Musk only exacerbated that drop. Although he later clarified that Tesla has not sold any bitcoin. As BTC fell further, at one point dropping below $30,000 on May 19, he tweeted Tesla has [diamond hands] to seemingly bolster bitcoin support. || Was The Smart Money Right About ViacomCBS Inc. (VIAC)?: Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 900 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile failures like hedge funds' 2018 losses in Facebook and Apple. Let’s take a closer look at what the funds we track think about ViacomCBS Inc. (NASDAQ:VIAC) in this article.
Hedge fund interest inViacomCBS Inc. (NASDAQ:VIAC)shares was flat at the end of last quarter. This is usually a negative indicator. Our calculations also showed that VIAC isn't among the30 most popular stocks among hedge funds(click for Q4 rankings). The level and the change in hedge fund popularity aren't the only variables you need to analyze to decipher hedge funds' perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That's why at the end of this article we will examine companies such as Ameriprise Financial, Inc. (NYSE:AMP), Old Dominion Freight Line (NASDAQ:ODFL), and Garmin Ltd. (NASDAQ:GRMN) to gather more data points.
Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 124 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.
Seth Klarman of Baupost Group
At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like thisemerging lithium stock. We go through lists like the 10best hydrogen fuel cell stocksto pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter onour homepage. Now let's view the key hedge fund action encompassing ViacomCBS Inc. (NASDAQ:VIAC).
At the end of December, a total of 44 of the hedge funds tracked by Insider Monkey were long this stock, a change of 0% from the third quarter of 2020. On the other hand, there were a total of 64 hedge funds with a bullish position in VIAC a year ago. With hedgies' positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
More specifically,Baupost Groupwas the largest shareholder of ViacomCBS Inc. (NASDAQ:VIAC), with a stake worth $175.1 million reported as of the end of December. Trailing Baupost Group was Ariel Investments, which amassed a stake valued at $137.5 million. Canyon Capital Advisors, GAMCO Investors, and Contrarius Investment Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each positionVoleon Capitalallocated the biggest weight to ViacomCBS Inc. (NASDAQ:VIAC), around 5.57% of its 13F portfolio. Contrarius Investment Management is also relatively very bullish on the stock, designating 4.32 percent of its 13F equity portfolio to VIAC.
Judging by the fact that ViacomCBS Inc. (NASDAQ:VIAC) has experienced bearish sentiment from hedge fund managers, it's safe to say that there were a few funds who were dropping their full holdings in the fourth quarter. Intriguingly, Dmitry Balyasny'sBalyasny Asset Managementcut the biggest position of the "upper crust" of funds followed by Insider Monkey, valued at about $34.7 million in stock, and Randall Smith's Alden Global Capital was right behind this move, as the fund said goodbye to about $16.6 million worth. These moves are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
Let's go over hedge fund activity in other stocks similar to ViacomCBS Inc. (NASDAQ:VIAC). We will take a look at Ameriprise Financial, Inc. (NYSE:AMP), Old Dominion Freight Line (NASDAQ:ODFL), Garmin Ltd. (NASDAQ:GRMN), Ryanair Holdings plc (NASDAQ:RYAAY), FleetCor Technologies, Inc. (NYSE:FLT), Coca-Cola European Partners plc (NYSE:CCEP), and Viatris Inc. (NASDAQ:VTRS). This group of stocks' market valuations are similar to VIAC's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position AMP,34,642947,5 ODFL,50,891260,3 GRMN,27,516357,-5 RYAAY,23,782186,7 FLT,44,2029777,4 CCEP,28,1003000,5 VTRS,67,2753638,19 Average,39,1231309,5.4 [/table]
View table hereif you experience formatting issues.
As you can see these stocks had an average of 39 hedge funds with bullish positions and the average amount invested in these stocks was $1231 million. That figure was $919 million in VIAC's case. Viatris Inc. (NASDAQ:VTRS) is the most popular stock in this table. On the other hand Ryanair Holdings plc (NASDAQ:RYAAY) is the least popular one with only 23 bullish hedge fund positions. ViacomCBS Inc. (NASDAQ:VIAC) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for VIAC is 49.5. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 10 most popular stocksamong hedge funds returned 90.7% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 35 percentage points. These stocks gained 13.6% in 2021 through April 30th and beat the market again by 1.6 percentage points. Unfortunately VIAC wasn't nearly as popular as these 10 stocks and hedge funds that were betting on VIAC were disappointed as the stock returned 10.4% since the end of December (through 4/30) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 10 most popular stocksamong hedge funds as many of these stocks already outperformed the market since 2019.
Get real-time email alerts: Follow Viacomcbs Inc. (NASDAQ:VIACA,VIAC)
Disclosure: None. This article was originally published atInsider Monkey.
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• 15 Biggest Mining Companies In The World || 12,354 BTC Withdrawn From Coinbase in an Hour, Totaling $700M: An amount of 12,354 BTC was recently withdrawn from Coinbase on Friday totaling over $700 million, the massive outflow could be related to institutional investors according to Moskovski CIO Lex Moskovski The amount of 12,354 bitcoin was withdrawn within an hour on Friday. The withdrawal, coupled with bitcoin’s bullish narrative would suggest that the removal from Coinbase could spur even more confidence in the cryptocurrency. Large bitcoin outflows Chief Investment Officer at Moskovski Capital Lex Moskovski tweeted the Glassnode graph. Hinting that the withdrawal could be from financial institutions wanting to increase their Bitcoin stock. The CIO said in his Tweet, “Institutions or not, that’s still a significant outflow”. Moskovski could not confirm if the outflow was related to institutional investors. However bitcoins recent strength has seen major financial players buying large quantities of the cryptocurrency Hedge funds offering BTC custody Large financial institutions have begun offering bitcoin custody services to their clients. Recently, American multinational investment bank Morgan Stanley began offering BTC custody to clients. Goldman Sachs also recently announced that clients would be able to invest in bitcoin. Some Twitter users are speculating whether the number of bitcoins withdrawn was suspicious. Several users commented that the figure of 12354 seemed like the unspecified party was ‘trolling’. Benjamin Theordore tweeted “Im kinda annoyed it wasnt 12345”. While Richard Duong tweeted “12354 like a joking number”. The large withdrawal was from Coinbase , a crypto exchange that aims to be a fair, accessible, efficient, and transparent financial system enabled by crypto. The exchange started in 2012 with the idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. View comments || Bank of England governor: Cryptocurrency investors should be prepared to lose all their money: The U.K.’s most prominent central banker is making his disdain of cryptocurrencies clearer than ever. Andrew Bailey, governor of the Bank of England , said Thursday that if you buy Bitcoin, Dogecoin, Ethereum, or any other digital currency, you should be “prepared to lose all your money.” “They have no intrinsic value,” Bailey said at a press conference . “That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value…I’m going to say this very bluntly again. Buy them only if you’re prepared to lose all your money. I’m afraid currency and crypto are two words that don’t go together for me.” His comments echo a 2017 warning that used very similar language. Bailey’s damnation of crypto came after a question about whether the BoE was worried about the recent volatility in the digital currency space. Year to date, Bitcoin is up 96%, Ethereum is up 371%, and Dogecoin—the crypto that no one was meant to take seriously —is up 12,718%. Earlier this year, Bailey told the World Economic Forum that he did not believe current cryptocurrencies would survive as a form of payment. “Have we landed on what I would call the design, governance, and arrangements for what I might call a lasting digital currency,” he said . “No, I don’t think we’re there yet, honestly. I don’t think cryptocurrencies as originally formulated are it.” Bailey’s objections notwithstanding, the BoE said last month it would join forces with the U.K. Treasury to consider creating its own central bank digital currency. No decision has been made on that idea yet, however. More must-read finance coverage from Fortune : Everything to know about Biden’s $3,000 child tax credit —including when the money should arrive Should you “sell in May” ? Not this year, say experts 3 reasons Verizon needed to dump what’s left of AOL and Yahoo Are CFOs flocking to Bitcoin? No way , says this high-level adviser Commentary: 5 things Western investors misunderstand about China This story was originally featured on Fortune.com || Tesla Sold Some Bitcoin for Big Profit in Q1 and Crypto Critics Pounce: Bitcoin and crypto-mining monolith Bitmain is releasing an application specific circuit (ASIC) miner for Ethereum, another indicator the Ethereum mining industry is doubling down on proof-of-work, even as its developers gear up forthe blockchain’s shift to proof-of-stake.
Bitmain releaseda videofor the new Antminer E9, which it claims will do the work of 32 graphics cards (GPUs), the expensive processors typically coveted by PC gamers that are also used by miners to mine foretherand other coins. The advertisement says the machines can produce up to 3 gigahashes per second (the best GPUs produce roughly 100 megahashes per second).
Ethereum, like other so-called ASIC-resistant blockchains that use a different hashing algorithm than Bitcoin’s SHA-256, are supposed to reject hashes from ASICs, which are designed to produce hashes for mining purposes only, and serve no other computing function (like graphics for gaming. for example). Still, as evidenced by the E9 and other crypto ASICs, manufacturers have found ways around these limitations.
Related:Tesla Sold Some Bitcoin for Big Profit in Q1 and Crypto Critics Pounce
Bitmain’s product releasefollows GPU maker Nvidia’s rolloutof mining-specific graphics cards, a response to card shortages as the crypto market’s mining boom has squeezed supply chains and driven up costs for gamers.
As miners purchase these products, it underscores a tension between an Ethereum mining industry that is heavily invested in proof-of-work while its community and developers make moves toward a new network in Ethereum 2.0 and proof-of-stake.
Even as changes are made to Ethereum’s design to mitigatehigh transaction fees(such as the recent miner-opposed EIP 1559 rule that burns a percentage of transaction fees), miners are showingno indication that they will leave this Ethereum chainfor the new proof-of-stake Ethereum 2.0 when the time comes. Mining sources tell CoinDesk they expect Ethereum mining activity to continue for at least a year following Ethereum 2.0’s launch.
Updated April 27, 2021, 17:30 UTC: This article was updated to clarify that the most efficient ether-mining GPUs can produce nearly 100 megahashes a second.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96
|
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 2020-01-30]
BTC Price: 9508.99, BTC RSI: 71.76
Gold Price: 1583.50, Gold RSI: 70.99
Oil Price: 52.14, Oil RSI: 23.02
[Random Sample of News (last 60 days)]
Bitcoin is a pyramid scheme, economist says: It’s been a rollercoaster couple of years for cryptocurrencies, but 2019 has been a fruitful one for Bitcoin holders. The value of one Bitcoin rose more than 85% since January 1, placing it among the some of the year’s top performing financial assets. In fact, a recent report from Bank of America names Bitcoin the single best investment of the last decade.
But despite its successes, many critics still advise against putting your money into Bitcoin.
“It’s a pyramid scheme,” LendingTree Chief Economist Tendayi Kapfidze tells Yahoo Finance. “You only make money based on people who enter after you.
“It has no real utility in the world. They’ve been trying to create a utility for it for ten years now. It’s a solution in search of a problem and it still hasn’t found a problem to solve.”
Crypto hardliners point to an environment that has evolved favorably since digital currencies hit the mainstream. Since Bitcoin’s parabolic rise in early 2017, we’ve seen cryptocurrency adoption within some of the world’s largest financial institutions. Even central banks have taken the first steps toward implementing their own digital currencies.
Still, experts say, investing in crypto as an asset class is purely speculative.
“I own several cryptocurrencies. I got into them in late 2016 and early 2017. I bought them equal weights with a specific thought: ‘there’s something here, I just don’t know what it is,’” says Bruderman Asset Management Chief Market Strategist Oliver Pursche.
“I own five... if I’m lucky one of them will become an all-star.”
Pursche says he invested in cryptocurrency not only to grow his portfolio, but also to learn about the technology behind the blockchain.
“I don't think you go into it thinking that you're going to become a billionaire or a millionaire as a result of it. You go into it very soberly understanding that you can lose all of your principle and that this is purely speculative,” he told Yahoo Finance.
“For me, it's also a way to get educated on it... to me, if you want to learn about it, you've got to own it because that's the only way you're going to truly educate yourself and pay attention.”
-
Nick Rose is a producer for Yahoo Finance.
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. || Asset Manager Secures SEC Approval to Create Novel Bitcoin Futures Fund: The New York Digital Investment Group (NYDIG) has secured approval from the U.S. Securities and Exchange Commission (SEC) to offer institutional investors shares of a new fund focused on bitcoin futures.
According to a filingpublished on an SEC database Monday, the NYDIG Bitcoin Strategy Fund, a portfolio fund in the Stone Ridge Trust VI, will invest in cash-settled bitcoin futures contracts traded on exchanges registered with the Commodity Futures Trading Commission (CFTC). The fund does not intend to invest in bitcoin directly, or any other cryptocurrencies.
“The Fund will seek to purchase a number of Bitcoin futures so that the total value of the Bitcoin underlying the Bitcoin futures held by the Fund is as close to 100% of the net assets of the Fund (the “Target Exposure”), as it is reasonably practicable to achieve,” the filing said.
Related:The SEC Has a New Chief Crypto Cop
It cautioned that “there can be no assurance that the Fund will be able to achieve or maintain the Target Exposure.”
NYDIG,which received a BitLicenseand a limited purpose trust charter from the New York Department of Financial Services last year, is looking to raise $25 million through the fund.
At press time, CME is the only exchange to offer cash-settled bitcoin futures contracts in the U.S. (while Bakkt intends to offer cash-settled bitcoin futures starting next week, they will trade on ICE Singapore).
The SEC has long been loathe to approve certain fund products touching cryptocurrencies – exchange-traded funds (ETFs) as the main example. However, Monday’s approval may signal a slight shift in its stance.
Related:Telegram Founder Durov Should Testify in SEC Case Over Gram Token: Judge
Indeed, Dalia Blass, director of the SEC’s Division of Investment Management, appeared toreference the fundin a speech earlier this week, calling it “a prime example” of industry engaging with the agency on new types of products.
“Last year, I issueda public lettercalling on the fund industry to engage in a dialogue on the investor protection and substantive issues presented by such investments,” she said.
These issues included valuation, custody, liquidity, arbitrage efficiency and potential manipulation. The letter called for funds to find ways of answering these questions.
“As a result of this engagement, we are at the point that a registered closed-end interval fund with a bitcoin futures strategy is preparing to launch,” she said. “To reach this point, the fund first responded to each of the issues identified in the staff letter.”
While Blass did not identify the NYDIG fund by name, she noted that it would invest in cash-settled bitcoin futures, meaning it does not face crypto custody issues, and would value its holdings using the settlement price on a CFTC-registered futures exchange.
She touted other aspects of the fund as examples of how it addresses her previously stated concerns.
SEC Commissioner Hester Peircetook to Twitter topraise the approval, calling it “a bit of progress.”
NYDIG declined to comment on the fund through a spokesperson.
• Unregistered ICO Issuer Gladius Shuts Down 9 Months After SEC Settlement
• The Case for a Bitcoin ETF || Bitcoin enters accumulation phase ahead of halving: Bitcoin has now been trading in a sideways pattern for the past three days following last weekends wildly volatile price swings. On January 19, Bitcoin momentarily traded above $9,000 before a staggering 8% decline in a one-minute candle. The slump ended with Bitcoin bouncing at the $8,400 level of support, which was a previous point of resistance on January 8. Since then, the worlds largest cryptocurrency has stabilised in the $8,650 region, with price seemingly being pegged to the 50 exponential moving average (EMA) on the four-hour chart. Its also worth noting that the current price point also marked Novembers infamous death cross, which saw the daily 50 EMA cross the 200 EMA to the downside. The 50 EMA is now interestingly ticking back up towards the 200 EMA, which means a golden cross could come to fruition in the coming weeks to provide more pressure to the upside. The initial levels of resistance to look out for on the Bitcoin chart are at $8,830 and $9,050. A break above either of these levels will almost certainly see volatility return to the market as the block reward halving edges closer. As previously reported by Coin Rivet, previous halvings have always preceded Bitcoin forming a new all-time high within the space of a year, as miners are incentivised to increase the price in order for the industry to stay profitable. For more news, guides, and cryptocurrency analysis, click here . The post Bitcoin enters accumulation phase ahead of halving appeared first on Coin Rivet . View comments || The UK General Election – It’s the 5-Day Countdown: Into Election Week we go. For many, including the British electorate, there will the hope for an end to the Brexit saga. Live televised debates and Q&A sessions may have ultimately gone in favor of the Opposition Party. But, the lead and the reality of Brexit looks to have given the Tories the lead with just 5-days remaining. Market confidence going into the weekend remained, in spite of a pullback in the Pound against the Greenback. The pullback was data-driven rather than election sentiment-driven, or so it seemed. We had seen the Pound hit choppy waters ahead of key live televised debates and last Friday was no exception. With the U.S President on his way back to the U.S, there was little interference to trouble the markets. So, as things stand… The Opinion Polls YouGov released its latest opinion poll tracker results, covering the opinion polls from 5 th and 6 th December, on the weekend. After a narrowing in support for the Tories, the Pound’s rise to 7-month highs was vindicated if the polls are anything to go by. According to the latest Polls , The Tories, The Conservative Party saw their share of the vote increase from 42% on 3 rd December to 43% on 6 th This reversed a fall from 43% on 29 th In spite of the uptick, the share of the vote continued to sit well below the 15 th November high 45%. The Opposition Party, The Labour Party’s share of the vote held steady at 33% over the same period. Whilst holding steady, this was down from the Labour Party’s high 34% on 29 th In spite of a widening in the Tory Party lead, the lead remains significantly narrower than the widest margin aback on 15 th On 15 th November, the Tories had a 17 point lead. As of the latest survey, the lead stood at 10 points. Good news for Johnson and the Brexiteers is the double-digit lead in the final run to Election Day. For the remaining parties, The Liberal Democrats saw a slight increase in support, bringing to an end a downward trend that began back on 22 nd Since the start of November, the Lib Dems have seen their share of the vote fall from a high 17%. The rest of the minority parties lost support at the end of the week, as voters moved across the Tories and the Lib Dems. The Odds The latest bookmakers’ odds saw some minor changes from late last week. According to Oddschecker , For the Tories, Odds for the Tories to win with an overall majority widened from 2/5 to 3/8 over the weekend. The widening came off the back of a widening from 1/2 to 2/5 mid-way through last week. For the Tories to win the most seats, these held steady at 1/20 after having moved from 1/16 in the week ending 29 th This came off the back of a move from 1/14 to 1/16 ahead of the weekend of 23 rd November. Story continues For the opposition party, Oddschecker has the odds of Labour winning the most seats at 14/1, narrowing from 16/1 from the middle of last week. The odds of an overall Labour majority moved from 25/1 to 11/4, however, after having held steady at 25/1 mid-week. Hung Parliament? With the Lib Dems continuing to struggle, the odds of a hung parliament moved from 5/2 to 11/4. This came off the back of a widening from 2/1 to 5/2 mid-week. Over the weekend of 23 rd November, Oddschecker had the odds of a hung parliament stand at 11/5. UK bookmakers had the odds of a hung parliament at 5/4 in the 1 st week of November. In spite of the uncertainty of Election Day, the Bookies are going for an all-out Tory win… The Predictions The opinion polls and the bookmakers continue to have the Tories as the likely victors in next Thursday’s election. Electoral Calculus has also continued to predict a Tory Party majority this time around. The predictions had raised some uncertainty ahead of the weekend. The latest predictions, however, may well alleviate some of that uncertainty. For the Tories , Electoral Calculus predicts the Tories to win 348 seats, which would give a majority of 46. The latest prediction was based on opinion polls from between 2 nd and 7 th Ahead of the weekend, Electoral Calculus had predicted a 20 seat majority. Mid-week, Electoral Calculus had predicted the Tories to win 339 seats, which would have given a majority of 28 seats. This is good news for Johnson and the Brexiteers, with the majority now well above the recent low 12 seats. For the Opposition Party , Labour has seen their predicted number of seats fall from 229 levels from the middle of last week to 225 seats this weekend. While narrowing from recent highs, the number of seats remains well above 208 levels back at the end of November. The Remaining Parties, The Scottish National Party have seen their predicted number of seats fall to 41, down from a high of 47. It’s not been spectacular for the LIB Dems either, with the Pro-Remainers predicted to win just 13 seats… The Pound It was a spectacular week for the Pound last week. Well, at least for those looking for a run at $1.40 levels and a resounding Tory Party victory. A return to $1.31 levels and 7-month highs came in spite of the markets having been badly bitten twice before. Back in 2016, the EU Referendum caused mayhem that resulted in margin calls closing out a large number of smaller brokerages. In 2017, Theresa May took a gamble that left the Tories with a minority government that ultimately ended any chance of delivering Brexit. The Brexit deadlock was not only frustrating for the EU and Britain but also for the global financial markets. We may not have seen the Pound return to the post-EU Referendum flash-crash low of $1.19048, but, we did see sub-$1.20 levels back in September. Johnson’s return to British politics and easing into Number 10 has been the Pound’s key support mechanism. Not only did he manage to renegotiate a Brexit deal but, he also managed to get Parliament to vote in favor of the deal. That’s quite an achievement, recognized by a Pound that is up 9.8% from the 2 nd September 2019 low to Friday’s close. There could be more upside going into Thursday’s election if the polls, predictions, and odds continue to demonstrate a return to supremacy for the Tories… It still leaves a long way down, if voters defy the odds, however. Could we see some jitters ahead of the big day? This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Daily – Movers and Shakers -08/12/19 S&P 500 Weekly Price Forecast – Stock Markets Recover Drastically For The Week US Stock Market Overview – Stocks Surge Following Robust US Jobs Report Natural Gas Weekly Price Forecast – Natural Gas Markets Give Up Gains For The Week Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/12/19 Gold Price Prediction – Prices Drop and Momentum Reverses on Robust US Jobs Growth View comments || Square Crypto offers grant to pseudonymous Bitcoin developer: Square Crypto, payments company Squares crypto initiative, has announced that it is giving a grant to a part-time Lightning Network developer who goes by the name ZmnSCPxj in order to support his work. ZmnSCPxj is known for his posts on the lightning-development email lists. He has been providing detailed analyses of existing proposals and writing up comprehensive proposals of his own, according to Square Cryptos tweets . The grant is meant to help him quit his day job and conduct Lightning and Bitcoin work on a full-time basis. In a move that could never happen in any other space, were supplying a grant to what looks at first glance like a hash function, Square Crypto announced on Twitter. We dont actually know where ZmnSCPxj lives, apart from somewhere in the GMT+8 timezone, which includes China, Brunei, Hong Kong, Macau, Taiwan, the Philippines, Malaysia, and Singapore, the company said. Thats it. Thats all he told us and thats all we know. In September, Square Crypto provided a $100k grant to the BTCPay Foundation, the non-profit organization behind BTCPayer Server. Its new grant to ZmnSCPxj shows the companys increased interest in supporting the bitcoin developer community. || OneGold Launches Brand New, State-of-the-Art Mobile App: Advanced Mobile Platform Allows OneGold Customers to Buy, Sell and Redeem Precious Metals at the Touch of a Button from Anywhere at Anytime OKLAHOMA CITY, OK / ACCESSWIRE / January 13, 2020 / OneGold , a marketplace to securely and conveniently buy, sell and redeem gold and other precious metals founded by APMEX and Sprott today announced the launch of their state-of-the-art mobile app with best in class security features. The app, now available for download on Android and iOS , is designed for customers to effortlessly buy, sell or redeem precious metals 24/7 on any device. "We strive to consistently lead the pack in innovation and customer experience," said Ken Lewis, Chief Executive Officer at OneGold. "This mobile app will further enable our mission to ensure wealth preservation is conveniently available to everyone at the lowest possible total cost of ownership available on the market today." OneGold eliminates all traditional barriers to purchasing gold and brings the precious metals buying experience to anyone who would like to protect their wealth, immediately. It's an easy-to-use website and now mobile app, with no hidden fees, and transparent pricing. OneGold is an ideal resource for people who would like to passively save weekly, monthly or quarterly and dollar cost average the price of gold and silver over time. Then, when the customer is ready to take possession, they can convert their precious metal's holding into physical metal and APMEX will QuickShip® the same business day. Anyone who registers through the new OneGold mobile app will receive $5 for each new registration and a ‘refer a friend' bonus of an additional $5. Through an established partnership with BitPay , the largest global blockchain payments provider, Bitcoin, Bitcoin Cash, Ethereum, and various stable coins are also accepted through the OneGold mobile platform. All BitPay customers will save 2%, when using BitPay at OneGold.com. OneGold Quick Facts: OneGold gold and silver are fully allocated physical precious metals held at the Royal Canadian Mint, a Federal Crown Corporation of the Government of Canada or held in the United States via APMEX, Brinks, or Loomis. APMEX deep relationships to mints world-wide, allow them to offer institutional precious metals pricing direct to consumers. Customers can link up their bank accounts, instantly verify and purchase immediately. OneGold precious metals are 100% redeemable for physical precious metals, delivered by APMEX direct to customers' doors. Customers can pre-fund or lock in a transaction at the price they desire while OneGold waits for the funds to be cleared. OneGold.com is secure and accessible 24/7 via a mobile app or desktop, allowing investors to buy, sell or redeem precious metals at their convenience. AutoInvest allows customers to set up recurring transactions to automatically execute a buy on any product, in any amount and at any frequency of their choosing. OneGold customers can purchase gold and silver using Visa, MasterCard, Discover, AMEX, Bitcoin, Ethereum, and PayPal. OneGold is IRA compatible and allows any self-directed IRA account holder to set up and manage their precious metals account. Story continues To learn more about OneGold visit, https://www.onegold.com/ . To download the new mobile app via iOS, click here to download the app via Android, click here . About OneGold, Inc OneGold eliminates all traditional barriers to purchasing gold and silver, bringing the precious metals buying experience to anyone looking to protect their wealth immediately. It is a very easy to use website and mobile app with transparent pricing and no hidden fees. OneGold is the partnership between precious metals leaders, APMEX, and Sprott. For almost 20 years, APMEX has been one of the nation's largest precious metals e-retailers, boasting over $10 billion in transactions. For more information, please visit www.apmex.com . Sprott Inc. is an alternative asset manager and a global leader in precious metal and real asset investments. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver, and its common shares are listed on the Toronto Stock Exchange under the symbol ( SII ) . For more information, please visit www.sprott.com . Media Contact: Jeff Davidson, Interdependence PR for OneGold Email: jdavidson@interdependence.com SOURCE: OneGold View source version on accesswire.com: https://www.accesswire.com/572756/OneGold-Launches-Brand-New-State-of-the-Art-Mobile-App || Latest Bitcoin Cash price and analysis (BCH to USD): At the time of writing, Bitcoin Cash (BCH) is trading at around $206 after falling 3% since last week. Over the past 24 hours, BCH has dropped close to 2% in value. In October, BCH rebounded spectacularly towards the end of the month in response to Bitcoin’s positive momentum. However, over the last two months , the crypto market has tumbled again and BCH has come crashing down. Will BCH start pushing higher again? And if so, what are the next levels of support to look out for? Or will Bitcoin Cash drop further? Let’s take a look at the chart for Bitcoin Cash, courtesy of TradingView . As you can see from the chart above, the price of BCH recovered during late October before crashing around 45% as we moved through November. The October gains were lost and the price came crawling back down to as low as $200 as the huge market-wide meltdown hit the coin hard. Last week , I said I wasn’t expecting BCH to push higher than $225 for the time being. In addition, Bitcoin Cash is now trading below all its EMAs. BCH needs to try and regain support at around $225, as there’s a steep drop to $170 below that. For the time being, I expect BCH to trade below its EMAs for a while and to attempt to recover towards the 200-day EMA – even though the market is showing no signs of a recovery just yet. Right now, volume sits at just above $1 billion – around half of what it was last week. Safe trades! BCH fundamentals I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver, and discussed the most recent developments on the horizon for BCH. You can find all the details here , but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party. Story continues I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem. Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Roger Ver to launch crypto exchange on Bitcoin.com By Oliver Knight – December 12, 2019 As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . The post Latest Bitcoin Cash price and analysis (BCH to USD) appeared first on Coin Rivet . || Bitcoin price pushes upwards 5%, leading market revival: After a challenging week, the price of bitcoin has increased five percent in the last 24 hours. One bitcoin (BTC) is now worth $7,549. The recent price rise comes after a couple of sharp drops. On December 18, bitcoin's price dropped as low as $6,600, having fallen continuously from $7,600 over the preceeding weeks. But shortly after the dip, the price bounced back up to $7,100 before another surge yesterday. However, the price still appears to be in a downwards channel. Looking at the long term picture, bitcoin's price has been steadily heading down from peaks of $13,700 in June. But, it's still up since the start of the year. The price of bitcoin was worth $3,740 on January 1, roughly half of its current price. While bitcoin is performing well in the last day, it has only stimulated a minor revival for other cryptocurrencies. In the top ten coins by market cap, bitcoin cash (BCH) is leading the rest, up 3.42% for today. Most other coins are up between 2-3%, although XRP has barely moved and remains just under $0.20. Crypto.com coin (CRO) is closing in on the top ten coins, up eight percent in the last 24 hours and is now ranked twenty fourth. Tezos (XTZ) continues to remain in the top ten coins, having ousted stellar (XLM) and tron (TRX). || WisdomTree Launches Physically Backed Bitcoin ETP on SIX Swiss Exchange: A new bitcoin exchange traded product (ETP) has just listed on Switzerlands SIX stock exchange, and its physically backed by the underlying crypto. Launched by New York-based WisdomTree one of largest ETF providers in the U.S. on Tuesday, the new product will compete with a similar physically backed bitcoin ETP from Amun AG on SIX. At press time, the WisdomTree ETP (ticker symbol BTCW) is live on SIXs platform, but showing no volume as of yet. A physically backed product is settled in the underlying asset, not a cash equivalent. Related: Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says WisdomTree said its Bitcoin ETP gives investors a simple, secure and cost-efficient way to gain exposure to Bitcoin while utilising the best of traditional financial infrastructure and product structuring. With the product there is no need to hold the cryptocurrency directly, with the firm saying it employs institutional grade storage solutions for the bitcoin underlying the product. As with gold ETPs, investors in the bitcoin product will have an entitlement to the cryptocurrency underlying it. We have been monitoring cryptocurrencies for some time and
have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios, said Alexis Marinof, head of Europe at WisdomTree. The firm sees many parallels between cryptocurrency and commodities, according to Marinof, whose firm has been providing gold-based ETPs in Europe since 2003. Related: Swiss SIX Exchange Lists Tezos ETP With Staking Rewards While the product is currently available for professional investors only, WisdomTree said it hopes that a cryptocurrency ETP may soon receive regulatory approval for wider access by retail investors too. [W]e see blockchain technology and digital currencies as being transformative for the asset management industry, said WisdomTree CEO Jonathan Steinberg. Much like how the ETP structure has outshone the mutual fund structure in significant ways, blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally. Related Stories Swiss Central Bank to Explore Use of Digital Franc in Settling Trades Swiss SIX Exchange Launches Crypto ETP Denominated in Swiss Francs || Which altcoins have outperformed Bitcoin in January 2020?: The new year couldn’t have got off to a better start for cryptocurrency enthusiasts. After the significant Bitcoin pump that took place early in the year, where the price of BTC increased close to 20% in the space of a few days, it seems the market has now stabilised. Meanwhile, even with Bitcoin’s rise, some top altcoins have experienced some impressive gains versus the world’s pre-eminent cryptocurrency. Let’s take a look at the top altcoins that have outperformed Bitcoin so far this year, courtesy of Mesari.io . As you can see, the top-performing altcoins in January are Bitcoin SV, Dash, Bitcoin Gold, Ethereum Classic, and Zcash. However, looking at the last column, with the exception of Bitcoin SV, most altcoins are still well below their all-time highs versus Bitcoin. Nevertheless, today my goal is to look into which altcoins might help you increase your Bitcoin portfolio in the short term. During January 2020, some altcoins doubled in price versus Bitcoin, meaning you could conceivably greatly increase your Bitcoin holdings if you spread your investment out to include some top-performing altcoins and then convert your profit back into Bitcoin. As always, the views in this article should not be considered financial advisement. The volatility of the crypto markets means money can easily be lost. Never invest more than you can afford to lose and always do your own due diligence. Let’s take a look at the top three coins of January 2020: Bitcoin SV (BSV), Dash (DASH), and Bitcoin Gold (BTG). BSV/BTC Above we can see the chart for Bitcoin SV vs Bitcoin, courtesy of TradingView . BSV has been performing quite well versus BTC in 2020 so far. At the time of writing, BSV has pumped from 1,300,000 sats to nearly 3,300,000 since the start of the year. That represents a 153% gain since early January 2020. All of Bitcoin SV’s EMAs are currently spiking as well, and the 20-day EMA has crossed both the 50-day and 200-day EMAs. If the trend continues, I expect BSV to continue making new highs. Story continues In my last BSV price analysis , I underlined how the next target was around 3,400,000 sats. It seems BSV is coming close to breaching said target to keep the positive momentum going a bit longer. As long as volume does not decline too much, I don’t see a reason why BSV couldn’t keep pumping over the next few months. DASH/BTC Dash is a popular altcoin among a great deal of cryptocurrency investors and traders. Since its early “DarkCoin” days, Dash has been attempting to solve scalability and privacy – two major issues for many crypto-enthusiasts. Looking at the chart above, again courtesy of TradingView , we can quickly see Dash has been performing quite well during January 2020. Essentially, the altcoin has grown close to 135% in the span of 30 days against Bitcoin, going from around 600,000 sats to 1,600,000 sats. If the altcoin is capable of sustaining its current volumes and stays above the 200-day EMA (blue line), we could see its momentum keep going for longer. BTG/BTC Much like Bitcoin SV, Bitcoin Gold is yet another hard fork of the Bitcoin Core software. Since early January 2020, BTG has grown over 80% versus BTC. At its height two weeks ago, the altcoin peaked close to 130%. Price now seems to be struggling to maintain its positive momentum. If BTG is capable of sustaining its price above the 200-day EMA, we could see new highs for Bitcoin Gold. At the moment, BTG is trading close to 136,000 sats. If the altcoin breaks to the upside, we could see 200,000 sats soon, since the volume profile shows little resistance until then. If the opposite happens, BTG could drop down to its 50-day EMA at around 105,000. Safe trades! Disclaimer: The views expressed in this article are the author’s only. This article isn’t financial advice or promotional material; it represents my personal opinion and should not be attributed to Coin Rivet. The post Which altcoins have outperformed Bitcoin in January 2020? appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 9350.53, 9392.88, 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
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[Random Sample of News (last 60 days)]
The Crisis in Bitcoin and the Rise of Blockchain: Remember the hype over bitcoin? The crypto-currency that so tantalized techies and excited investors is today in a sorry state: Its core supporters are at war with each other and ordinary consumers still don’t care about this supposedly revolutionary form of money. But that’s only half of the story. The other half is about the remarkable rise of blockchain, the core technology underlying bitcoin that is enjoying unprecedented adoption by banks and big business. This development--the fall of bitcoin and the rise of blockchain--has accelerated in recent months, and it has big implications for those who have sunk hundreds of millions of dollars into these technologies. Here’s the latest on the story of bitcoin, which has turned out far differently than many imagined. How We Got Here Flash back five years, the bitcoin scene was an exciting place to be. A motley mix of coders, libertarians, and get-rich-quick hucksters latched onto the promise of bitcoin founder Satoshi Nakamoto’s new distributed, tamper-proof money system and ledger run from millions of computers. The ledger provided an indelible record of near-anonymous financial transactions in offering a global payment platform to ordinary merchants, drug dealers, and everyone in between. The early bitcoin buzz soon exploded, and the currency’s value briefly soared to $1,200 . The mainstream news media caught onto the story while venture capitalists lined up to fund any business with “bit” in its name. Meanwhile, businesses from Virgin Galactic to the NBA’s Sacramento Kings realized they could get a heap of free press just by announcing they would accept bitcoin. The currency never caught on, however. Despite all the startups offering wallets and other tools to popularize the payment technology, average consumers never took to bitcoin--even as they did adopt another person-to-person mobile payment platform, known as Venmo , in droves. So what happened? One problem is that bitcoin never shook its sordid side. While there is nothing intrinsically evil about bitcoin, its most famous adopters have always been a rogue’s gallery of fraudsters, prostitutes, dark web drug lords , and Ponzi schemers . Even some members of bitcoin’s governing foundation, who sought to make the currency respectable, are on the lam or in jail . Story continues This rogue reputation certainly didn’t help bitcoin. But it wasn’t the crypto-currency’s biggest problem. Instead, the main reason bitcoin didn’t catch on is because it’s just not practical. Even if you can find merchants who accept it, the process involves exotic apps, currency transactions, and a verification process that takes minutes to get the okay. Compare that to swiping a credit card, and you see the problem. In recent months, bitcoin’s adoption problem has suddenly worsened. Meanwhile, big banks are finding they can use bitcoin’s best feature and leave the currency itself behind. Get Data Sheet , Fortune 's technology newsletter. The Current Crisis and the Rise of Blockchain “Bitcoin’s nightmare scenario has come to pass,” read a headline this week from tech site, The Verge. That’s a pretty fair way to describe a recent schism within the bitcoin developer community--the collection of gnomes who decide on the protocols and computer code under the hood. The Verge report offers a good run-down of the technical specifics but, for present purposes, they can be summed up like this: the bitcoin community failed to agree on a system upgrade, which means the ledger’s infrastructure faces a growing backlog, and it now takes over 40 minutes to confirm a transaction. As a result, bitcoin is less practical than ever and merchants (the few who accepted it in the first place) are bolting. This schism deals a further blow to bitcoin’s hopes of ever becoming a mainstream currency. This is a setback for the bitcoin community, but here’s the kicker: it doesn’t really matter. That’s because the true value of bitcoin is not the currency itself. Instead, it’s the blockchain technology underneath it. Banks and other big businesses have already reaped the benefit of this technology. As Fortune reported in December, IBM , Intel , JP Morgan , and several other big banks are betting on the blockchain’s ledger system. As with bitcoin, the system requires a set of diffuse computers to prove that a transaction has occurred. Once a confirmation occurs, it’s recorded in a common ledger and cannot be reversed. Why is this such a big deal? It has to do with record keeping. The idea of a tamper-proof ledger created by computers is so significant because it could let a number of industries--especially banking, brokerages, and law firms--overhaul the way they do business. Instead of relying on slow and cumbersome settlement systems to notarize and record documents, they can let a blockchain do it for them. “The clearing and settlement will be done in a matter of seconds. An efficiency comes with this that is a pretty significant force multiplier,” explains Jeff Garzick, a former bitcoin developer who recently launched a consultancy called Bloq that advises banks and others how to deploy blockchain technology. Garzick and his partner Matt Rosack expect the financial industry will begin using the blockchain for stock and loan settlements as soon as the end of this year. Likewise, they think banks’ transactions at the discount window of the Federal Reserve will soon be recorded on a blockchain. And that’s just the beginning. Garzick and Rosack say the Big Four auditing firms will soon have a blockchain-based transaction feed that will be visible to regulators, who have been studying the potential of blockchain technology for years. The Future: Blockchain Without Bitcoin Even for those familiar with crypto-currency, it can be hard to get one’s head around just how the blockchain can operate without bitcoin. The reason is that bitcoin supplies the financial incentive for people around the world, known as miners, to operate the ledger in the first place. For more about bitcoin, watch our video : In return for devoting their computers to running the blockchain (which publishes the ledger), they receive a reward in the form of a bitcoin that can be spent online or exchanged for traditional currency. In the absence of such an incentive, how do the banks plan to develop the blockchain? The answer is they are building their own version of blockchain and running it themselves. As Garzick explains, this process involves taking the core protocol underlying bitcoin and then stripping off all the “mining” and compensation functions. He says the miners are an interesting way to creating a ledger, but they are not essential in the case of a “private chain,” like the one the banks are developing. “The mining is a really elegant software solution that equally distributes who is going to validate the next set of bitcoin transactions,” Garzick says. “ A private chain replaces the entire trust-less aspect with a more private closed network of participants.” In practice, this will involve the banks rejecting a global federation of miners in favor of a handful of trusted verification partners within their own network--a process already underway . For instance, a group of 15 banks might agree that the ledger becomes official once computers from seven group members agree to record a set of transactions. So what happens to bitcoin in this scenario? As The Economist noted in a recent feature , it may become no more than a novelty or a historical curiosity. If this is the case, the venture capitalists who made big bets on consumer bitcoin startups like Coinbase and Xapo could see a pool of wealth vanish. Ditto the U.S. government, which has seized a large pile of bitcoins in high-profile drug investigations. For now, that worst case scenario for bitcoin hasn’t come to pass yet. Despite the recent convulsions in the developer community, its price has held fairly steady around $400 for months. It may find niche roles as a currency, such as for foreign remittances. Meanwhile, bitcoin still has defenders such as Jeremy Allaire, a successful entrepreneur who raised over $60 million for his startup, Circle, a money transfer service for consumers using bitcoin behind the scenes. Allaire says there is still time for bitcoin to break through in place of services like Venmo. “Venmo is another AOL--I don't want another walled garden. I want the Google of money,” Allaire said in a recent interview. “We've gone from a world where everyone is in denial about the tech and its usefulness. Now traditional financial institutes say, ‘We love the technology but we want to control it with our own private technology.’ That's not practical.” Other defenders include my former colleague at Fortune , Dan Roberts, who said the bull case outstrips the bear case for bitcoin in 2016. Still, based on recent developments, a bitcoin resurgence looks like a long shot. When the final history of bitcoin is written, the currency itself is likely to be just a colorful footnote in the tale of the emergence of a powerful new blockchain technology. See original article on Fortune.com More from Fortune.com This Could Kill the World's Most Popular Cryptocurrency Securing the City of the Future with Bitcoin Global Regulators Now Eyeing Fintech Through Machine Learning, IBM Braintrust Sees Better Days Ahead Here's Why Europe Is About to Crack Down on Bitcoin Anonymity || What to Expect from Overstock.com's (OSTK) Q4 Earnings?: Overstock.com Inc. OSTK is expected to report fourth-quarter 2015 results after the closing bell on Feb 4. Overstock.com is an online closeout retailer that sells brand-name merchandise at deep discounts. The offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect the t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to track down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of securities. Additionally, Overstock started the Black Friday holiday sales event a full week before the shopping holiday. This should have a favorable impact on the fourth-quarter results. Apart from this, Overstock also announced that Merrill Lynch Professional Clearing Corporation (“Merrill Pro”), the last defendant remaining after Goldman Sachs, in Overstock.com’s longstanding market manipulation case, has settled its claims by paying $20 million to Overstock.com and its co-plaintiffs. This is likely to boost results in the to-be-reported quarter. Story continues Stocks to Consider Here are some stocks, which you may consider as they have a favorable Zacks Rank and a positive Earnings ESP and are likely to post an earnings beat this quarter: MaxLinear, Inc. MXL has an Earnings ESP of +2.94% and a Zacks Rank #1 (Strong Buy). SolarWinds, Inc. SWI has an Earnings ESP of +2.27% and a Zacks Rank #1. Fidelity National Information Services, Inc. FIS has an Earnings ESP of +2.17% and a Zacks Rank #3. 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 SOLARWINDS INC (SWI): Free Stock Analysis Report MAXLINEAR INC-A (MXL): Free Stock Analysis Report FIDELITY NAT IN (FIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bank of America is going big on blockchain: Bank of America (NYSE: BAC) is trying to steal a march on the latest developments in the technology behind digital currency bitcoin (: BTC=) by loading up on blockchain-related patents. Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with. Major financial institutions -- including the Bank of England -- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency. But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday. "Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week. "And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be." In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher. Story continues Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted. The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currently developing a framework for applying blockchain technology to markets. Last year, Goldman Sachs released a note that said blockchain could "change everything" while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin industry consolidates: Why Kraken bought Coinsetter: For the past two years, the most popular type of new bitcoin company has been exchanges, where investors can buy and trade bitcoin and other virtual currencies. Now two exchanges are already rolling up, in the first major bitcoin industry acquisition of 2016.
Kraken, which is based in San Francisco but sees most of its trading activity in Euros, has bought Coinsetter, a smaller New York-based exchange, for an undisclosed amount. Coinsetter will shut down on Jan. 26 and its customers will be converted to Kraken. According to data from TradeBlock, the average daily transaction volume on Kraken last year was around $1.3 million.
The deal comes amid a price collapse and high negativity around bitcoin's future. Mike Hearn, a prominent bitcoin developer, wrote a poston Mediumlast week announcing his opinion that the bitcoin "experiment" has failed. "I will no longer be taking part in bitcoin development and have sold all my coins," he wrote. "The network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system."
The core of Hearn's argument is that the speed of transactions has slown; a contentious issue in the bitcoin community right now is whether and when to raise the size limit on "blocks," the term for a bundle of bitcoin transactions. Every single transaction is recorded and processed as part of a block on the bitcoin blockchain, a public, decentralized ledger. If this all sounds like a foreign language to you, don't worry: All you need to understand is that the bad optics of a prominent bitcoin flag-waver leaving the industry in a huff was enough to send the price plummeting. After Hearn posted his piece on Jan. 14, the price of the digital currency fell from $430 down to a low of $358 two days later. It now hovers around $380, according to Winkdex.
Viewed in this context, consolidation in the industry may look troubling. But Coinsetter CEO Jaron Lukasiewicz isn't concerned. "I’m bullish on bitcoin right now and believe we’ll see the price hit four-digits again," he tells Yahoo Finance. Perhaps that's easy for him to say: Coinsetter will shut down, and Lukasiewicz is moving on, likely following Hearn to the exit. ("For my next venture I am focused on starting or leading a team whose products are improving society... I’m not tied to any particular industry beyond that," he says.) The sale comes less than a year after Coinsettermade its own acquisitionof the Canadian-based bitcoin exchange Cavirtex—a deal that likely helped make Coinsetter an acquisition target itself.Benefiting from volatility
Kraken CEO Jesse Powell is less starry-eyed about the industry right now. "I think the market has not grown as fast as everyone anticipated," he says. "And the price has gone in the opposite direction of what people hoped. I think we’ll continue to see market consolidation. When the price is going up, new people are coming in, more media is covering it, it’s good news all around. When the price is going down, the public perception is bad, and everyone says bitcoin is crashing. The price is important in that aspect."
For a long time, many bitcoin believers insisted that the price isn't important. As long as it is relatively stable, they reasoned, startups can keep innovating and building useful applications on top of the blockchain. But for bitcoin exchanges, price matters: Most make their money from transaction fees, so they do best when there’s either a lot of volatility, or the price is high. When the price is stableandlow, exchanges suffer.
Leaving New York
Kraken, founded in 2011, is like a foreign exchange for digital currencies. Its customers are mostly professional traders executing margin trades and other advanced orders. It is not a site where beginners would go to casually dip a toe into the bitcoin market. Coinsetter, founded in 2012, offers Kraken the chance to instantly expand its customer base in Canada (from Cavirtex) and the U.S.
Except in New York. Kraken was one of the companies tocut off service in the statelast summer after the New York Department of Financial Services released the final version of the BitLicense, a regulatory framework for digital currency companies in New York that holds customers' funds. Many bitcoin entrepreneurs complained the framework was too strict and limiting, so rather than play ball, they left.
Coinsetter didn't leave New York. But under new management, it will now. "We’re going to shut down New York again right after the acquisition," says Powell. "So the Coinsetter New York clients will be out of an exchange there, unfortunately. Coinsetter did put in a BitLicense application, but when you have a change of control, the application is void, so we won’t be serving New York and we have no plans to apply for a BitLicense in the future."
In a sense, Powell is simply sticking to his guns, just like Hearn—except that the latter believes bitcoin has already failed, while the former believes it risks failure if there is over-regulation. Indeed, apart from the debate over block size, the industry's bigger battle will be over regulation. Many in the business are anxiously waiting to see whether other states will follow New York's lead and create their own form of a BitLicense. And while some companies stayed in New York and applied for a BitLicense (at high cost: Lukasiewicz says Coinsetter spent $50,000 to apply for one), others stayed in New York but did not apply, and continue to operate in uncertainty.
That concerns Powell. "There’s still not really regulatory clarity, and the banks still aren’t getting on board. They’re all about the blockchain these days, but they’re still not giving bitcoin exchanges bank accounts. So there are huge challenges with getting new exchanges started." He's right about the blockchain being a buzzword for big financial institutions: Everyone from JPMorgan (JPM) to the Nasdaq have talked up their interest in the blockchain while distancing themselves from the cryptocurrency that fuels it.
For now, Kraken gets bigger. It can compete more with the leading exchanges like BitInstant, Bitstamp, Coinbase and itBit, as well as brand new exchange platforms launched last year, including Abra, Align Commerce, and Gemini, an exchange launched by Cameron and Tyler Winklevoss, of Facebook fame.
"The issue for everybody in bitcoin right now," Powell says, "is if you started out a few years ago, say, in 2011, you thought that five years from now, it’s going to be flying cars, bitcoin everywhere, fiat currency will cease to exist. Clearly that didn’t happen, and bitcoin isn’t $10,000 a coin. I think a lot of companies created a structure that depended on a high price of bitcoin. When the price went from $1,000 to $200, they could no longer afford to finance their operation."
If the price drops further, expect to see more consolidation. And with so many different exchanges out there, it's inevitable more will roll up.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Why Apple, Uber are betting on Super Bowl sponsorship || Your first trade for Wednesday: The " Fast Money " traders delivered their final trades of the day. Tim Seymour was a seller of the iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) while Brian Kelly was a buyer. Dan Nathan was a buyer of Twitter ( TWTR ) . Peter Najarian was bullish on Viacom ( VIAB ) , a name he highlighted as a stock which could soon be aligned for stratospheric returns. Trader disclosure: On January 19, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, IWM, JCP, JPM, KO, LGF, RL, T, TWTR. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. Pete Najarian is long AAPL, BAC, BKE, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls AAL, BAC, BX, CHS, GE, GDX, HAIN, LC, MSFT, NRF, WMB, WYNN, XBI, YDKN, he is long puts FCX, MRO. Dan Nathan is long WMT Feb Put Spread, long PFE buy-write, long VZ Buy-write, long XLU Feb Call Spread, long QCOM Feb Calls, long UUP, long TWTR, long TLT Apr risk reversal; he is short SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, HSBC, SPY, Yuan. SunTrust Managing Director Robert Peck: Firm makes a market in Netflix. More From CNBC Top News and Analysis Latest News Video Personal Finance || Safe Cash Speeds up Blockchain to 25,000 Transactions per Second: SAN FRANCISCO, CA--(Marketwired - Feb 24, 2016) - Safe Cash ( www.safe.cash ), a digital payment technology for banks, merchants, and consumers, has announced that it is able to handle up to 25,000 transactions per second on its blockchain -- more than 3,000 times as many as Bitcoin. The time to complete and final settlement is under five seconds. This makes Safe Cash the fastest private blockchain, orders of magnitude ahead of competing private blockchains that are simple forks of bitcoin or litecoin. "Because of its slow consensus time, uncertain governance, and price volatility, Bitcoin is not a reasonable solution for banks, and it's not built to scale for massive adoption of instant e-commerce," said Chris Kitze, founder and CEO of Safe Cash Payment Technologies. "No open-source software can touch this performance. Our development team worked for the past eighteen months to solve a number of critical technical problems. It is not trivial. We also have a clear technical path to increase this speed to 100,000 transactions per second later this year, well in advance of that kind of global demand." In an era of permissioned blockchains gaining favor with financial institutions over decentralized, freely trading cryptocurrencies like Bitcoin, Ethereum, or Ripple, Safe Cash is one of the first blockchains to be commercially viable that can meet the transaction processing speed and throughput requirements of today's market. Safe Cash employs instant settlement in under five seconds, improved security, and controlled consensus that does not rely on miners or any intermediary coin that must be purchased. It allows banks to wean themselves off the high-priced, inefficient SWIFT network that can take days to transfer money. Banks can have their own "white label" blockchain that they control and manage. Inter-bank settlement can be achieved with multi-currency wallets, a separate bank settlement blockchain, or a combination thereof, depending on bank requirements and legal compliance. Story continues A demonstration of this technology is freely available at https://safe.cash , where the public is invited to get a free account to test out Safe Cash's loyalty token. Banks are invited to internally proof-of-concept test Safe Cash. About Safe Cash Payment Technologies, Inc. Founded in 2015, Safe Cash is the first payment system to allow cash to be used as a digital asset, with member banks storing the USD and providing tokens that are redeemable for cash. The system is designed to work globally and on most phones. All product and company names herein may be trademarks of their registered owners. || New Ways To Trade China, Crude Oil And The Fed: You’re reading the news about China and oil . The Fed will be talking about that news and much more and making news of its own. Some traders will find ways to profit. But will you trade the news you read? Or does the cost and risk keep you on the sidelines? George Soros got a shout-out Tuesday from no less than China’s People’s Daily, considered the official paper of China’s Communist Party. China sent a rare personal warning to the man who once “broke the Bank of England” by shorting the pound and making a billion in a day, not to try short-selling the yuan. The opinion piece by a commerce ministry researcher was quite specific: “Soros's war on the renminbi and the Hong Kong dollar cannot possibly succeed...” You may agree or disagree with what Soros said in Davos about a hard landing for the yuan and Chinese stocks. You may have an opinion about where Chinese stocks are headed next. But does that mean you can turn that opinion into a trade? You might speculate on how China’s problems might affect your Apple stock. You might even try a China-based ETF, but you’d still be dependent on the skill of the fund’s manager and other factors. How to directly trade the price of a Chinese stock index yourself? Oil is another fun topic to have opinions about. I’ve heard guys talk for 10 minutes about which gas station has the cheapest price that week. Even Bloomberg Businessweek did some of that, reporting that gas is now cheaper in Houston than in Dubai for the first time since 2008. Dennis Gartman, whose “Gartman Letter” many read and some even agree with, recently said oil would not go above $44 a barrel “in his lifetime.” Mr. Gartman is in great health, so this is a long-term forecast. Some of you almost certainly disagree. Last year I made a cocky prediction on oil when it was around $70 a barrel, that it would be under $45 by August. The cocky part was that I made it to a friend who worked for Koch Industries and knew petroleum up close and personal. When I was proven right, I gloated for a few minutes, but not much. Because I didn’t trade that prediction. I’ve traded for 18 years, but I took a pass on crude even when I was confident. Trading crude futures or even options was more risk than I wanted to take on just then. Story continues FOMC meeting week is usually a time for wide-ranging discussions. While the Fed is talking, so is everyone else, it seems. And when the Fed is done, they often move many markets and the US and other economies with their opinions. Stock markets will have short-term reactions and counter-reactions. Currencies may fluctuate and so can commodities, which are priced in dollars. Traders on all these markets stand to profit. Soros has an opinion, Gartman has an opinion, the FOMC has a dozen opinions. The rest of us have valid opinions of our own, but few ways to turn those opinions into opportunities to profit. Too much capital required or too much risk involved. The Nadex binary options exchange offers a secure, CFTC-regulated, affordable new way to trade not just crude oil, but even more exotic (to US traders) markets like the China A50 stock index of China’s 50 biggest companies. Exchange-traded binary options from Nadex offer guaranteed limited risk, low fees, and thousands of contracts traded daily with great liquidity thanks to the exploding growth in the popularity. Last year, a special report in Bloomberg Businessweek called Nadex binary options “The Future of Trading” because they address the problems of cost and risk. You can start with a minimum balance of just $100, the fees are 90 cents a side or less, and you always know your maximum possible loss before you enter the trade. No worrying about stop-losses or unlimited risk. That means you, too, can trade your opinions on China’s markets. You probably won’t get called out by the People’s Daily, either. And next time you’re talking gas prices, you could pull up the Nadex app on your phone and trade crude oil for less than $100 of risk. And of course, you can trade the most popular global stock indexes, commodities, and forex pairs—all from one screen and one account. Nadex even has binaries on Bitcoin (without having to own bitcoins). And if you have an opinion on whether the Fed will raise rates this week or not, Nadex has a binary option for that. Regulated by the CFTC, with your money held in US banks, Nadex offers an innovative new way for the rest of us to find profit opportunities in all parts of the world’s markets (well, except cannabis). This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. See more from Benzinga Here's How The Rate Hike Will Affect Oil And Inflation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Here's how you can invest in the blockchain: As big banks and other financial institutions continue tofeel the lovefor blockchain technology, many of our readers have wondered how they can get in. Can a private, non-institutional investor somehow invest in the blockchain?
Answering the question requires a distinction between thebitcoinblockchain and the broader, non-bitcoin idea of blockchain technology. Think of the bitcoin blockchain as a public ledger in the cloud, not unlike a library book slip (see the above video for more). It shows every transaction made with the digital currency bitcoin; the transactions are added in bundles called "blocks," by "miners" who receive a small fee in bitcoin as incentive to add the data. (You canview that happeningin-real time.) The bitcoin blockchain is public, open-source and permissionless.
What banks want to build is a private, closed blockchain,sansbitcoin,sansminers, to process their own transactions. The appeal is that it would make their systems faster and more efficient (most big banks are using old, outdated software for their record-keeping), as well as reduce friction and transfer delays. The bitcoin community is skeptical about the effort. "Having a closed, permissioned ledger run by banks might allow for better auditing, but there’s no innovation there," says Jerry Brito, executive director of the nonprofit Coin Center, whichhas raised fundingfrom the biggest names in bitcoin. "You still have to go through a consortium to use the ledger."
Indeed, 45 banks, including heavy-hitters like Citi, Credit Suisse, and JPMorgan, have jumped on board with a consortium,called R3, to test out blockchain technology. JPMorgan, eager to come out to an early lead in the blockchain race,announced last monthit has been testing its own blockchain with 2,200 customers.
In addition to banks trying to build their own blockchains, fintech startups likeitBitare offering their own non-bitcoin blockchains to financial customers.The blockchain product itBit offers is called Bankchain. "Bitcoin is a public, anonymous use case of blockchain technology," says itBit COO Andrew Chang. "Many financial institutions don't want to use the bitcoin blockchain because it’s an anonymous network and they're not okay with that."
Whether the strategy will even bear fruit is unclear, but asAlex Kwiatkowski of financial software firm Misys says, "No one wants to be the one financial company that didn’t invest in blockchain.It feels like California in the Gold Rush -- those making an early claim think they’ll get the most gold. But it’s just an efficiency improvement.There’s going to be some value there, they just need to unlock what it is without promising too much."
As banks and other big corporations continue to claim interest in blockchain, the idealogical divide between that side and the bitcoin side will only widen. Dan Conner, who is building a distributed ledger called DisLedger, aptly explains why: "If you’re a bitcoin fanboy and you’re a crypto-anarchist, that’s fine. But those people don’t tend to run in the same circles as banks." Conner predicts that even the term "blockchain" will go out of fashion for Wall Street the way "bitcoin" has, because there are inherent weaknesses in a blockchain. For now, clearly, the big banks are big believers in blockchain—or at least, they say they are.
If you, a regular investor (and Yahoo Finance reader), are also a believer, is there a way to invest in blockchain technology?
The short answer is: not directly. But there are three roundabout ways you could invest in the bitcoin blockchain or the broader, Wall Street concept of blockchain.
If you believe in the strength of the bitcoin blockchain, the best way to invest is to buy bitcoin. Whether you want to do that for price-speculation purposes or simply out of curiosity to own a nascent asset class, there are myriad ways to obtain some easily, from exchanges like Coinbase, Circle, Bitstamp or Kraken, which hasexpanded in the U.S. recently through acquisitions.
A second would be to buy stock in the banks that have joined up with R3, such asBBVA (BBVA), BNP Paribas (BNP.PA), Citi (C), Credit Suisse (CS), ING Group (ING), JPMorgan (JPM), Royal Bank of Scotland (RBS), UBS (UBS), and Wells Fargo (WFC). Of course, for bitcoin true believers, buying bank stocks would defeat the purpose of a cryptocurrency designed to avoid traditional banks.
Or you could buy shares in the Bitcoin Investment Trust (GBTC), which passively holds bitcoin to track the price (it's similar to the GLD gold trust) and began trading publicly over the counter last year. The trust was launched by Barry Silbert of the Digital Currency Group, which has invested in 75 bitcoin and non-bitcoin blockchain startups, andrecently bought the news site CoinDesk. "We started the Trust," Silbert says, "as aneasy way for casual investors to get exposure to the price of bitcoin without having to figure out where do you buy it, what price do you pay, and how do you store it. This is one easy way to play in the bitcoin/blockchain industry."
The trust is up 20% since it began trading last May. And bitcoin itself is up 81% in the same time period.
This is the second in a three-part Yahoo Finance series about blockchain technology. Thefirst partwas about why big banks are expressing interest in the blockchain; thethird partis about the biggest names in the industry.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin advocacy group scores funding from biggest names in industry
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Bitcoin's biggest investor bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin || 5 trades to watch after wild month: U.S. stocks rallied on Friday, capping a choppy, losing month for markets. With a cloudy outlook ahead, "Fast Money" traders outlined their best ideas moving forward.
Major averages rose more than 2 percent each after the Bank of Japan adopted a negative interest rate policy. The promising day put an end to a rough month in which the S&P 500(INDEX: .SPX)fell about 5 percent.
Traders noted that the up-and-down sessions may continue. In the current environment, "you want to buy anything with a yield," said trader Brian Kelly.
He believes the iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)has room to climb if investors seek safer bets. Demand for the U.S. 10-year Treasury note(U.S.: US10Y)has already sent its yield 15 percent lower this year, and it lingered near 1.9 percent on Friday.
Trader Dan Nathan also stressed that yield is crucial currently. He previously had long trades in Verizon(NYSE: VZ)and the Utilities Select Sector SPDR Fund(NYSE Arca: XLU), which he sold after the prices of both rose this year.
The Market Vectors Gold Miners ETF(NYSE Arca: GDX)has also beaten markets this year, rising 3.6 percent. In that period, the price of gold futures has climbed more than 5 percent.
"Something's going on with gold miners to the upside," trader Guy Adami said.
Trader Tim Seymour would sell emerging market stocks on strength. The iShares MSCI Emerging Markets ETF(NYSE Arca: EEM)rose more than 3 percent Friday, but Seymour sees "major structural problems" in emerging economies and said he would sell out of the fund.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, BAC, DO, FCX, INTC, IWM, NKE, T, XOM. Tim's firm is long BABA, BIDU, IWM, PEP, SAVE, SBUX, VALE, WMT.
Dan Nathan
Dan is long WMT Feb put spread, long PFE buy-write, long TWTR, long TLT Apr risk reversal, long XLP put spread.
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) -Celltick, a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider,Cable & Wireless Communications(C&W) (LSE:CWC). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets.
Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen.
"Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid.
"We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product."
Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries.
About Cable & Wireless Communications
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About Celltick
Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visitwww.celltick.com.
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,852.57 #bitcoin #btc || $381.00 #btce;
$379.00 #coinbase;
$377.14 #bitstamp;
$375.49 #bitfinex;
#bitcoin #btc via #ThePriceOfBTCpic.twitter.com/8arpI3R2em || LIVE: Profit = $446.40 (5.46 %). BUY B19.81 @ $420.00 (#VirCurex). SELL @ $435.24 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Let's join with mmm,mmm is the best #MMMGlobal MMMGlobal.BZ #bitcoin https://twitter.com/longtengchunye1/status/703756409452638208 … || Trade BTCtoUSD: Current price: 369.44$ $BTCUSD $btc #bitcoin 2016-01-28 22:00:04 EST #bitcoin #trade #tranding || MMM Global is realy life changing program.I earned 100%.
#HashTags: #MMMExtra #Bitcoin https://twitter.com/MMMGlobal/status/701428366021414912 … || Bitcoin Swaps! -- Gyft adds Walmart -- AuroraCoin Airdrop Begins! http://vid.staged.com/GWds #stagedpic.twitter.com/79FGNxNEFN || $387.13 at 22:00 UTC [24h Range: $376.00 - $392.07 Volume: 9446 BTC] via #btcusdpic.twitter.com/CBNXftcAgF || Liquid Bitcoin || One Bitcoin now worth $413.36@bitstamp. High $417.00. Low $409.62. Market Cap $6.331 Billion #bitcoin
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Trend: no change || Prices: 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-07-23]
BTC Price: 33581.55, BTC RSI: 51.81
Gold Price: 1801.40, Gold RSI: 45.88
Oil Price: 72.07, Oil RSI: 51.84
[Random Sample of News (last 60 days)]
How One Ether Options Trader Lost $3M in a Trade Gone Bad: A trader just learned the hard way that it’s pretty easy to lose $3 million in the volatile world of the crypto options market.
Theetherput options seller took a large bet against a sharp drop in the cryptocurrency and ended up booking a massive loss on Tuesday as the token powering Ethereum’s blockchain tanked to a three-month low of $1,700.
“The market moved just enough to force the trader to take a loss by buying back 5,000 contracts of the December expiry $2,560 put option sold earlier this quarter,” Gregoire Magadini, CEO of options analytics platform Genesis Volatility, told CoinDesk in a Telegram chat. “The trade looks to have yielded a loss of over $3 million.”
Related:Market Wrap: Bitcoin Nudges Up as Regulatory Risks Linger
A put option gives owners the right to sell the underlying asset (in this case, ether) at a set price on a certain date. Holders of the option make money when the price falls below that “strike” price and are implicitly short the asset. Conversely, sellers of the option benefit only when the asset trades above the strike and are implicitly long.
The ether options trader likely sold the $2,560 puts during the bull run, expecting a continued rally to last at least until the end of the year and thus a steady drop in the option’s price.
Ether peaked above $4,000 on May 12, however, and fell to $1,700 on Tuesday, boosting the value of the $2,560 put and bringing sharp losses to the seller. The trade was executed and squared off on Deribit, the world’s largest crypto options exchange, where one ether option contract represents 1 ETH.
The loss underscores that selling options, be it a put or a call, is a strategy better suited to institutions with ample capital supply and high-risk tolerance.
Related:Polkadot on Coinbase Went Up More Than 70% in the Midst of Crypto Market Sell-Off
Data from the exchange shows the trade as it occured. The number of open positions in the $2,560 put expiring on Dec. 31 saw a 10-fold increase to more than 12,000 contracts in the four weeks ended May 12 — when ether prices doubled to over $4,000 — and fell by 5,000 contracts on Tuesday.
“Majority of that open interest was opened on the short side,” Magadini said.
The short position that was squared off on Tuesday likely saw around a $3 million loss. How so?
Due to data limitations, the exact price at which the trader sold 5,000 contracts of the $2,560 put is not available. Magadini, however, recommended using the put option’s average price of $447 observed between mid-April and mid-May as the entry price for a profit-and-loss calculation. It’s probable that the trader kept selling small quantities as ether moved higher during those four weeks.
So, the seller likely received $2.235 million in premium by selling 5,000 contracts at an average price of $447. Those contracts, however, were repurchased on Tuesday at a much higher per contract price of $1,080, amounting to a total outlay of $5.44 million.
Essentially, the trader sold puts at $2.235 million a few weeks ago and then repurchased them for $5.44 million on Tuesday, netting a loss of over $3 million. That amount may seem heavy, but the trader likely did so out of fear the position would bleed further losses.
The puts’ value began rising as ether fell below $2,500 last week and surged to $1,080 during Tuesday’s early U.S. hours, when the cryptocurrency itself dipped to $1,800.
The short position was squared off when ether was near the lowest point of the day.
Further, it was closed on Deribit and not through an over-the-counter desk like Paradigm, a preferred venue for institutions. Magadini, therefore, believes it was a classic case of a retail investor getting burned by selling options.
Lastly, some informed readers might wonder if the short position was a part of the bull put spread or other complex strategies. A bull put spread consists of selling a higher strike put and buying a lower strike put with the same expiry and profits from a rising market or consolidation. The advantage here is that the long leg of the strategy caps losses during a sell-off and is a much safer way of collecting extra yield during bull runs than selling a naked put.
But there is no evidence that the sell position in the $2,560 put was accompanied by a buy position in the put options at lower strikes. Had that been the case, the trader would have squared off the buy leg along with the short leg on Tuesday, causing a big drop in open interest in puts below $2,560. That doesn’t seem to be the case here.
“We haven’t seen other options closed along with the December expiry $2,560 puts,” Magadini noted.
Also read:Bitcoin Likely to Be Rangebound After Rebound From $29K
• Bitcoin Futures’ Open Interest Drops More Than Half in 2 Months
• Market Wrap: Bitcoin Slides to Two-Week Low, Ether to Below $2K as China Reiterates Crypto Ban || Williams-Sonoma (WSM) Jumps 4.2% on Q1 Earnings Beat, Ups View: Williams-Sonoma Inc.’s WSM shares jumped more than 4% in the after-hour trading session on May 26, following solid first-quarter fiscal 2021 results. The company’s earnings and revenues handily beat the Zacks Consensus Estimate and significantly increased year over year, courtesy of strength across all brands and accelerated e-commerce growth.Meanwhile, the company has also lifted fiscal 2021 outlook, courtesy of solid start to the year and encouraging macro trends.Laura Alber, President and Chief Executive Officer, said, “As we look ahead, we are confident in our runway for growth and profitability. The goals we have set are driving incremental growth faster than anticipated, our brand differentiators continue to accelerate, and favorable macro trends should continue to benefit our business for the long-term. We are the only home furnishings retailer that’s able to serve customers at scale online and provide the experience and convenience of physical retail with exclusive sustainable products – giving us the unique advantage to gain share for many years to come.”
Non-GAAP adjusted earnings of $2.93 per share surpassed the Zacks Consensus Estimate of $1.85 by 58.4%. The figure also increased 295.9% from 74 cents per share reported a year ago.Revenues of $1,749 million beat the consensus mark of $1,508 million by 16% and grew 41.6% year over year. The better-than-expected revenues were driven by comparable brand revenue growth of 40.4%.Also, e-commerce penetration accounted for more than 65% of total revenues, buoyed by content-rich online experience and marketing strategies.Comps increased 40.4% versus 25.7% growth in the fiscal fourth quarter and 2.6% in the year-ago period. Comps at West Elm increased an impressive 50.9% compared with 3.3% growth registered in the prior-year quarter. Comps in the Pottery Barn brand grew 41.3% against a decline of 1.1% in the prior-year quarter. Williams Sonoma brand’s comps rose 35.3% compared with 5.4% growth in the year-ago quarter. The Pottery Barn Kids and Teen’s comps rose 27.6% versus 8.5% growth in the year-ago quarter.
WilliamsSonoma, Inc. price-consensus-eps-surprise-chart | WilliamsSonoma, Inc. Quote
Non-GAAP gross margin was 43%, up 850 basis points (bps) from the year-ago period. The upside was primarily caused by higher selling margins and occupancy leverage in the quarter.Non-GAAP selling, general and administrative expenses were 27.1% of net revenues compared with 28.1% in the year-ago quarter, reflecting an improvement of 100 bps. The upside was driven by robust top-line performance and ongoing financial and operational strategies, partly offset by higher advertising spending. Furthermore, non-GAAP operating margin expanded 950 bps from the year-ago period to 15.9% for the quarter.
Williams-Sonoma reported cash and cash equivalents of $639.7 million as of May 2, 2021 compared with $1,200.3 million at fiscal 2020-end. Notably, the company repaid $300-million term loan in full during the quarter. It also repurchased $315 million in the quarter alone.
The company is optimistic about business strength, and anticipates recovery in retail traffic as well as inventory levels during fiscal 2021.For fiscal 2021, Williams-Sonoma now expects revenues to witness low double-digit to mid-teen net revenue growth versus mid-to-high single-digit improvement expected earlier. It also expects operating margin expansion on a year-over-year basis.Nonetheless, the company projects revenue acceleration to $10 billion over the long term. Also, it expects non-GAAP operating margin to expand to at least 15% over the next five years.
Williams-Sonoma — which shares space withAt Home Group Inc.HOME,RHRH andFortune Brands Home & Security, Inc.FBHS in the Zacks Retail - Home Furnishings industry — currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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 reportFortune Brands Home & Security, Inc. (FBHS) : Free Stock Analysis ReportRH (RH) : Free Stock Analysis ReportWilliamsSonoma, Inc. (WSM) : Free Stock Analysis ReportAt Home Group Inc. (HOME) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || El Salvador's president says will send bill to make bitcoin legal tender: By Nelson Renteria and Anthony Esposito
SAN SALVADOR (Reuters) -El Salvador's President Nayib Bukele said on Saturday that he will send a bill to Congress next week to make bitcoin legal tender in the Central American nation, touting its potential to help Salvadorans living abroad send remittances home.
"In the short term this will generate jobs and help provide financial inclusion to thousands outside the formal economy," Bukele said in a video shown at the Bitcoin 2021 conference in Miami.
Strike, a mobile payments app that launched in El Salvador in March, said in a statement that it welcomed the legislation and was working with the country to make using bitcoin technology a success.
“This is the shot heard 'round the world for bitcoin," Strike founder and CEO Jack Mallers, who introduced Bukele's video, was quoted as saying at the Miami conference.
"Adopting a natively digital currency as legal tender provides El Salvador the most secure, efficient and globally integrated open payments network in the world," Mallers said.
Bukele took to Twitter to call promoting financial inclusion "a moral imperative" as well as path to growing El Salvador's economy by providing access to credit, savings, investment and secure transactions.
On the issue of remittances, Bukele said that currently "a big chunk of those 6 billion dollars is lost to intermediaries. By using Bitcoin, the amount received by more than a million low income families will increase in the equivalent of billions of dollars every year."
He pointed out that 70% of El Salvador's population does not have a bank account and works in the informal economy.
"This will improve lives and the future of millions," said Bukele.
(Reporting by Nelson Renteria in San Salvador, Anthony Esposito in Mexico City and Juby Babu in Bengaluru; Editing by Marguerita Choy, Sonya Hepinstall and Michael Perry) || Elon Musk reveals support for upgrade proposal to popular meme token Dogecoin: Elon Musk has further reiterated his support of the much-beloved meme coin following the introduction of a proposal that aims to significantly reduce transaction fees of Dogecoin. Patrick Lodder, a Dogecoin developer that has supported Dogecoin since its inception, posted the proposal on Github on Sunday. The proposal was posted to Twitter by Ross Nicoll, another Dogecoin contributor and caught the attention of Musk, who replied to the tweet Important to support Important to support Elon Musk (@elonmusk) June 28, 2021 On the Reddit thread, Lodder gave a summary of what the proposal entails This proposal to all dogecoin stakeholders suggests to reduce average fees 100x for standard transactions on the dogecoin chain, split full control over all aspects of fees between miners and node operators, rely less on core development, and bring back a functional (small) free transaction space that incentivises keeping the network healthy. Although created in 2013, Dogecoin has seen little development since then, with the last major upgrade to Dogecoin in June 2019. However, due to Dogecoins recent surge in popularity, price and potential use-cases, the impetus is now on the development team to deliver a working product that can handle the increased attention. Musk, who was voted the CEO of Dogecoin in a satirical Twitter poll, has been a long-time fan of Dogecoin and a supporter of its meme status, often posting Dogecoin related memes to his Twitter account. Although a proponent of Dogecoin, Musk did mention in an interview that his support is to be taken lightly and not too seriously, saying Occasionally I make jokes about dogecoin, but they are really meant to be jokes. SpaceX is going to put a literal Dogecoin on the literal moon Elon Musk (@elonmusk) April 1, 2021 Despite this, he revealed back in April that SpaceX is going to put a literal Dogecoin on the literal moon and has since contributed to the community in a more serious manner through his support for the development of Dogecoin. Story continues Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down. Elon Musk (@elonmusk) May 16, 2021 His first show of support for Dogecoin development examined what Musk thought was needed to make Dogecoin become currency of Earth, mentioning block sizes and outlining something similar to what the latest Dogecoin proposal aims to do. If youd like to help develop Doge, please submit ideas on GitHub & https://t.co/liAPQMFaQB @dogecoin_devs Elon Musk (@elonmusk) May 24, 2021 Later that month, Elon Musk then tweeted asking his followers to submit ideas to the Dogecoin Github, which could have signalled that his latest round of support towards Dogecoin has proved fruitful and led to a resurgence of interest in improving the capabilities of Dogecoin. Musk has also been confirmed to appear at the upcoming Bitcoin-focused initiative dubbed The B word. Jack Dorsey, a co-host at the event, recently engaged with Musk on Twitter about debating Bitcoin at the event and invited him to appear, to which Musk replied positively. Since then, a spokesperson for the event has now confirmed that the conversation between Musk and Dorsey will take place. Its unclear whether Dogecoin will be mentioned in the interview due to the nature of the event. However, the discussion between the two is highly anticipated following their opposite views towards Bitcoin and the industry. Dorsey has shown a recent bullish stance towards Bitcoin and crypto, whilst Musk has been critical of environmental factors and the Bitcoin community. For more news, guides and cryptocurrency analysis, click here . || Neptune Expands Bitcoin Mining Operations with Secured Order of Next-Gen Mining Machines: Vancouver, British Columbia--(Newsfile Corp. - July 7, 2021) - NEPTUNE DIGITAL ASSETS CORP. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a leader in diversified cryptocurrency and blockchain assets, is pleased to announce that it has secured the purchase of new next-generation mining machines for its continued strategy to scale its Bitcoin mining operations.
The mining machines were sourced through Neptune's growing network of global blockchain partners providing it with the highest performing mining hardware available. The Antminer S19 Pro is the latest generation Bitcoin ASIC miner produced by leading hardware manufacturer Bitmain. The Antminer S19 Pro, mining SHA-256 algorithm, boasts a hashrate of 110 terahash per second (TH/s) with an energy efficiency of 29.5 joules per terahash (J/TH) and a power consumption of 3250W.
Neptune's secured order of 200 S19 Pro machines is expected to be delivered and functioning by the end of summer 2021 and produce a combined hashrate of 22,000 terahash per second (TH/s). Neptune will continue to work with partners and suppliers that focus on renewable power aligning with Neptune's green Bitcoin initiative.
"Patience has paid off with the expansion of our Bitcoin mining operations as machines have dropped in price substantially over the last two months. We waited until we hit what we felt was the near-term bottom to make the purchase. We are excited to expand our existing fleet of mining machines with these new S19 Pros and will get them up and running as soon as possible," stated Cale Moodie, CEO of Neptune. "Our existing partnerships puts Neptune in a great position to quickly and efficiently scale our Bitcoin mining revenues while taking advantage of market pricing fluctuations. We will continue to update shareholders on the progress as new information becomes available and more equipment is procured."
At the time of this release, Neptune currently holds $47.06M in cash, investments and digital assets. The Company now holds 105 BTC, 285 ETH, 142,300 ATOM, 2,070 DASH, 1,440,400 FTM, and smaller positions in LTC, DOT, BCH, Stellar, NEO, OMG, and QTUM; as well as its investment in the Protocol Quant Fund. The Company has 298 ASIC S17 Bitcoin mining machines currently hosted with Link Global Technologies that are averaging 0.09BTC per day (based on month-to-date) or $114,000 per month at the current Bitcoin price. In addition to Bitcoin mining operations, Neptune's staking operations are generating $323,000 per month at current prices.
About Neptune Digital Assets Corp.
Neptune Digital Assets aims to be a cryptocurrency leader with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (DeFi) and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEONeptune Digital Assets Corp.1-800-545-0941www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information include, but are not limited to, the anticipated total hash rate of the S19 Pro Bitcoin mining machines; the Company's ongoing business relationship with its partners and suppliers; the anticipated timing for commencing operations of the S19 Pro Bitcoin mining machines; the future rate of production from the Company's Bitcoin mining machines; the revenues from the Company's mining and staking operations;; the future scaling of the Company's Bitcoin mining operations; the Company's ability to grow and optimize its proof of stake operations; the Company's future earnings and operating costs; the Company's future growth in total assets; the Company's strategy to purchase crypto currency and optimize its crypto portfolio; the Company's ability effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company's ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/89590 || Why You Should Be Holding On to Your Amazon Stock: I won’t Hold On for Dear Life (HODL) withBitcoin(CCC:BTC-USD). I’d rather HODL withAmazon(NASDAQ:AMZN) stock.
Source: Jonathan Weiss / Shutterstock.com
I have held AMZN stock for about eight years. I was dared to do it by critics at another investment site. Since then, the shares have been a true “10-bagger.” They’re up by a factor of 10. My Amazon shares are one of the biggest holdings in my retirement account.
Lately the shares have gone nowhere. Shares are only up 2% so far in 2021, as of this writing.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There are reasons. CEO Jeff Bezos is leaving the building,on a rocket ship. So are many other Amazon executives (althoughnot on rocket ships). There is uncertainty over the path incoming CEO Andy Jassy will take. Governments around the world see Amazon as a piggy bank they can tap, and a villain they can poke.
The reality is that Amazon keeps growing, at scale, with first-quarter sales 44% ahead of 2020. Net income is rising even faster, first quarter earningsmore than three times higher than in the previous year.
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Along the way the various pieces of the Amazon empire – the cloud, the store, the media – are becoming big enough to stand on their own.
Amazon Web Services (AWS), for instance, needsabout $20 billion in free cash flowto meet its annual capital needs. It’s now bringing in over $50 billion of revenue per year, growing at 32%, with 31% of it profit. Separated from the store, AWS would be a truly independent cloud, the world’s biggest technology opportunity. It’s big enough to make that move.
I don’t know if Amazon Studios could be split off like that right now. Its revenue is tied to Amazon Prime shipping. Its acquisitions, like MGM Studios, are possible only because of the mother ship’s size. But it’s one of the few global media operators, buying content for specific markets like India and Russia in ways onlyNetflix(NASDAQ:NFLX) can match. (Netflix is a big AWS customer.) Add the potential from music, Kindle books and Twitch and it, too, is viable.
Once that’s done the store is no longer a threat toWalmart(NYSE:WMT) as the world’s largest retailer. Not yet, but certainly by 2030. And there are no real antitrust threats to any of it, anywhere, no matter what someAT&T(NYSE:T) or Walmart lobbyists may say.
What Will Jassy Do is an open question. Jassy has made his career at AWS, but his degree isin business, not computer engineering. He formally takes command in less than a month,on July 5, which may explain recent price action.
Will he split the company? Will he split the stock? Will he institute a dividend? Can he build his own team, as good as the one he has played on the last two decades? No one knows.
What I do know is he has plenty of room to maneuver. He could raise the stock price as Tim Cook did atApple(NASDAQ:AAPL). He is qualified to try and make his own legend.
The weakness in AMZN stock has made its fundamentals look stronger. The price-earnings ratio is down to 62, the price-sales ratio at 4. Amazon has earned over $52 per share over the last year but that’s a moving target, because earnings keep rising sharply quarter-to-quarter.
Investors who look at the major cloud companies still preferAlphabet(NASDAQ:GOOGL, NASDAQ:GOOG). I don’t. I think Google is buying cloud share and that its consumer franchises are more subject to political pressure than Amazon’s.
For the 31 analysts following Amazon atTipranks,all are screaming buy. Their average price target is $4,295, which is an increase of 31%. The lowest price target is still 13% ahead of today’s price.
The only thing wrong with buying Amazon stock today is no one sees anything wrong. HappyPrime Day, everybody. It’s the most wonderful time of the year.
On the date of publication, Dana Blankenhorn held LONG positions in AMZN and AAPL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Dana Blankenhornhas been a financial and technology journalist since 1978. He is the author ofTechnology’s Big Bang: Yesterday, Today and Tomorrow with Moore’s Law, available at the Amazon Kindle store. Write him atdanablankenhorn@gmail.comor tweet him at@danablankenhorn. He writes a Substack newsletter, Facing the Future, which covers technology, markets, and politics.
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The postWhy You Should Be Holding On to Your Amazon Stockappeared first onInvestorPlace. || Investors Could Benefit from Tax Loophole for Crypto Losses: ©Shutterstock.com / Shutterstock.com Many crypto investors have been pummeled in the past weeks, with the price of Bitcoin and other cryptocurrencies dropping rapidly . There might be a small silver lining however, as this might open the door to a tax loophole, according to CNBC. See: Millennials Own More Crypto Than Any Other Generation Find: If You Want to Invest in Crypto Without Investing in Crypto, Consider These Lower-Risk Options Losses related to cryptos are treated differently than those of stocks and mutual funds, according to CNBC, as the so-called “wash sale” rule doesn’t apply to them. According to the Securities and Exchange Commission, a wash sale occurs when you sell or trade securities at a loss and within 30 days before or after the sale you buy substantially identical securities, acquire substantially identical securities in a fully taxable trade, or acquire a contract or option to buy substantially identical securities. The loophole for cryptos is that virtual currencies are treated as property for federal tax purposes, the Internal Revenue Service explains. As such, general tax principles applicable to property transactions apply to transactions using virtual currency. See: Biden to Crack Down On Tax Evasion by Crypto Investors Find: Cryptocurrency Jargon: A Guide for the Crypto-Curious In turn, crypto investors can somehow benefit from their losses in a couple of ways. First, they can use the tax loss harvesting practice — which is allowed for securities and stocks — meaning they can sell a capital asset at a loss to offset a capital gains tax liability, according to cryptocurrency tax software Cryptotrader.tax. By harvesting a loss, investors are able to offset taxes on both gains and income, a tax reduction strategy commonly used in the world of stocks and securities, Cryptotrader.tax explains. The second way to benefit from crypto losses, not allowed for stocks and securities under the wash sale rule, is to quickly re-buy the crypto. “They can sell crypto for a loss, and then use that loss to reduce or eliminate capital gains tax on winning investments. Then, they can quickly buy back the crypto they sold so as not to miss out on a subsequent rebound in price,” according to CNBC. Story continues “ It lets you completely manipulate [crypto] on the downside and use it to create a tax [benefit] ,” Leon LaBrecque, a CFP and accountant at Sequoia Financial Group tells CNBC. More From GOBankingRates Housing Breaks That Are Available to Military Members and Their Families Everything You Need To Know About Taxes This Year 4 Tips for Saving Money While in the Military Monifi Review: Mobile Banking That Can Improve Your Budgeting This article originally appeared on GOBankingRates.com : Investors Could Benefit from Tax Loophole for Crypto Losses || Pakistan moves to bring cryptocurrency boom out of the dark: By Umar Farooq
ISLAMABAD (Reuters) - Once a week Ghulam Ahmed, 38, takes time out from his cryptocurrency consulting business to log into a WhatsApp group with hundreds of members eager to learn how to mine and trade cryptocurrency in Pakistan.
From housewives looking to earn a side income to wealthy investors wanting to buy cryptomining hardware, many barely understand traditional stock markets but all are eager to cash in.
"When I open the session for questions, there's a flood of messages, and I spend hours answering them, teaching them basic things about cryptocurrency," said Ahmed, 38, who quit his job in 2014, believing it was more profitable to mine Bitcoin.
Pakistan has seen a boom in trading and mining cryptocurrency, with interest proliferating in thousands of views of related videos on social media and transactions on online exchanges.
While cryptocurrency is not illegal in Pakistan, the global money laundering watchdog, the Financial Action Task Force (FATF), has called on the government to better regulate the industry. Pakistan is on the FATF's grey list of countries it monitors for failing to check terror financing and money laundering.
In response, the federal government has set up a committee to study cryptocurrency regulation, which includes observers from the FATF, federal ministers, and heads of the country's intelligence agencies.
"Half the members had no clue what it was and didn't even want to understand it," said committee member Ali Farid Khwaja, a partner at Oxford Frontier Capital and chairman of KASB Securities, a stock brokerage in Karachi.
"But the good thing is someone set up this committee. The relevant bodies in the government who need to get things done are supporting it, and the promising thing is nobody wants to stand in the way of technical innovation."
And the head of the country's central bank, Reza Baqir, said in April the authority was looking into another digital asset, a central bank digital currency, and its potential for bringing transactions happening off the books into a regulatory framework.
"We hope to be able to make some announcement on that in the coming months," he told CNN. Baqir declined to comment to Reuters on the topic.
Even the education sector has caught on.
In February, one of the country's leading universities, the Lahore University of Management Sciences, received a grant worth $4.1 million to study the technology from Stacks, a blockchain network that connects Bitcoin to apps and smart contracts.
LEGALISATION AND INVESTMENT
These moves can't come soon enough for cryptocurrency advocates.
Institutions have at times treated those involved in the trade of cryptocurrency with suspicion, worried about possible associations with money laundering.
Ahmed said he has been arrested by the Federal Investigation Agency (FIA) and charged with money laundering and electronic fraud twice, though the charges have not held up in court.
On one occasion, he said, the FIA seized a cryptocurrency mining farm he had set up in Shangla, in Pakistan's northern Khyber-Pakhtunkhwa province, which ran on its own hydroelectric power. The FIA did not respond to Reuters' request for comment.
Waqar Zaka, a former TV host with more than a million followers on Youtube, has been lobbying officials for years to not only legalise the industry, but have the government invest in it. Zaka, like Ahmed, had set up a cryptocurrency mining farm running on hydroelectric power.
Earlier this year, Khyber-Pakhtunkhwa's provincial government tapped Zaka and Ahmed to be on a committee studying how it can profit from such ventures. In March, the group announced it was looking into setting up new mining farms using Zaka's facility as a template.
The committee was dissolved in June, with the provincial government saying federal authorities should handle any new policies on cryptocurrencies.
Despite the challenges, Pakistan's crypto boom shows no signs of stopping.
Pakistan-based social media groups explaining how to trade and mine cryptocurrency abound, some with tens of thousands of followers on Facebook. On YouTube, cryptocurrency videos in Urdu have been viewed hundreds of thousands of times.
Online cryptocurrency exchanges, most based outside Pakistan, like Localbitcoins.com, have hundreds of Pakistani traders listed, some with thousands of transactions.
Apps like Binance and Binomo, which track and trade cryptocurrency, have more downloads than some of the country's largest banks' apps, according to web analytics company SimilarWeb.
"You cannot stop crypto, so the sooner Pakistan regulates things and joins the rest of the world, the better," Ahmed said.
(This story corrects to clarify State Bank head was referring to a central bank digital currency, not cryptocurrency, in paragraph 9 and to show provincial committee dissolved in paragraph 19)
(Reporting by Umar Farooq; Editing by Karishma Singh) || Tesla, MicroStrategy, Riot Blockchain Stocks Up As Bitcoin Regains Strength At $40,000 Level: Bitcoin(CRYPTO: BTC) has seen significant gains today, as well as stocks of companies related to the world's top cryptocurrency following Elon Musk's reassuring tweet indicating that Tesla will accept the leading cryptocurrency again.
What Happened:CoinMarketCapdatasuggests that Bitcoin price grew by over 14.3% from its 24-hour low of $36,000 to a high of nearly $41,000, before settling at its current price of $40,850 at press time.
According to Paolo Ardoino, CTO of Bitfinex, "the king of crypto is carrying cryptocurrency markets higher."
"Meanwhile, Bitcoin’s utility and use cases such as the Lightning Network continue to strengthen and grow. While it is important to always take a long-term view, we’re seeing a quiet optimism return to the market," he added.
Read also:Elon Musk Sets The Record Straight On When Tesla Will Accept Bitcoin Again
Cryptocurrency mining enterpriseRiot Blockchain Inc.(NASDAQ:RIOT) shares are up over 20% today, beating even Bitcoin's growth over the last 24-hours, with a stock price of $37.25.
Microstrategy(NASDAQ:MSTR)'s stock has been 15% up today and was trading at $590 at press time. The company has invested almost all of its revenue into Bitcoin and raising further capital through the issuance of bonds to buy even more.
Microstrategy recentlyannouncedthat it intended to raise $400 million to buy Bitcoin but thendecidedto raise $500 instead, and the bond offering got oversubscribed to a total of $1.6 billion.
Lastly,Tesla Inc(NASDAQ:TSLA) has seen its shares rise by 1.4% today afterMusk's statement.
The shares were trading at $618 at press time.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Dutch Police Arrest Three in Pump-and-Dump Scheme Involving Self-Made Cryptocurrency: Dutch police arrested three men in the industrial town of Deventer for attempting to defraud investors by selling them a self-made cryptocurrency and then intentionally sinking its price. The police charged the men with fraud and embezzlement, and did not rule out additional arrests. Police arrested one of the men at a Deventer warehouse that held several computers used for mining cryptocurrency, and that there “was also an issue of electricity theft,” according to a press release posted on the website of the National Dutch Police. The arrests stemmed from an investigation of the cryptocurrency exchange Coinhouse.eu, which authorities have suspected of embezzling customers’ money and defrauding them. In what authorities described as a pump-and-dump scheme, one of the men, a 39-year-old, produced the cryptocurrency and advertised it on a cryptocurrency platform and Twitter, luring investors and boosting the price. He then sold a large volume of digital coins over a short time frame, rendering them “worthless.” The 39-year-old man is also suspected of similarly trying to scam investors using ERSO, MALC, EUROP and TulipMania digital currencies, the press release said. During the investigation, police seized a house, vehicles, computers and cryptocurrencies. Related Stories People Behind Crypto Protocol DeFi100 May Have Absconded With $32M in Investor Funds Staff at Biggest Dutch Domino’s Pizza Franchise Can Now Be Paid in Bitcoin New to Bitcoin? Stay Safe and Avoid These Common Scams Dusk Network Takes ‘Around 10%’ Stake in Dutch Stock Exchange
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-04-22]
BTC Price: 445.74, BTC RSI: 70.90
Gold Price: 1228.70, Gold RSI: 47.01
Oil Price: 43.73, Oil RSI: 66.64
[Random Sample of News (last 60 days)]
Benton Capital Acquires Lithium and Graphite Projects and Changes Name of Company: THUNDER BAY, ONTARIO--(Marketwired - Apr 20, 2016) - Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") is pleased to announce that the Board of Directors have unanimously agreed to refocus the Company's efforts toward a 100% green-energy exploration and development company. The main focus will be the acquisition and development of high quality Lithium and Graphite projects which the Company considers to be the necessary metals of the future as demand and growth continues worldwide driven by green technology. This includes lithium ion batteries used in electric cars, smart phones, tablets, and home and industrial power storage along with many other applications. Companies such as Tesla launched their home storage lithium-based Powerwall battery system which sold out in August 2015 and Tesla has said it will aim to source raw materials locally in North America where responsible mining laws are in effect which will reduce the environmental footprint.
Pursuant to this new direction and subject to regulatory approval, Benton will subsequently change its name to Alset Energy Corp. and in is the process of applying for a new trading symbol.
Given the Company's new focus it would also like to announce that it has acquired by staking a 100% interest in the Wisa Lake Lithium deposit located 80km east of Fort Frances, Ontario. The property is connected to Highway 11 (Trans Canada) located 65 kilometres north via an all weather paved road that crosses the centre of the project. The property is comprised of 2 claims totaling 30 units and covers the Wisa Lake deposit that is host to a historical resource of 330,000 tonnes grading 1.15% Li2O (Lexindin Gold Mines Ltd., Manager's Report, 1958; Ontario Geological Survey, Open File Report 6285, Report of Activities 2012). In 1956 Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335m and to a depth of approximately 65m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4m containing 20% of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101 compliant category.
The Company has also agreed to acquire a 100% interest in the Champion Graphite project from Benton Resources Inc. (TSX VENTURE:BEX) (a company related by common directorships) for a payment of 1 million shares to Benton Resources Inc. and subject to a 2% NSR. Benton Capital will have the option to buy back 1% of the NSR for $500,000. The Champion Graphite project represents a non-core asset of Benton Resources Inc. and the related party directors of each of the respective companies abstained from voting to approve the acquisition. The retained NSR provides Benton Resources Inc. with the opportunity to participate in any future success of the project. The Champion Graphite project is located north of Kenora, Ontario and consists of 29 units in 2 claims. The ground covers a large concentration of airborne electromagnetic anomalies hosted in metasediments. The airborne survey was conducted by Dighem Surveys & Processing Inc in 1989 on behalf of Champion Bear Resources Ltd. Dighem describes the anomalous area as consisting of numerous sub-parallel bedrock conductors of variable strength associated with a highly complex magnetic unit (MNDM assessment files). A year prior to the airborne geophysical survey, historical trenching was conducted by Bellwether Resources Ltd. in 1988. The trenching uncovered graphite occurrences where channel samples returned weighted average grades of up to 1.76% carbon over 25.0m (MNDM assessment files).
Stephen Stares, Company President and CEO stated "we are excited to embark on this new strategic course aimed at providing shareholder value and growth. The importance of exploration and development of metals used in green technology cannot be understated and Benton looks forward to acquiring and developing quality assets in this space".
All of the above transactions are subject to TSX.V and regulatory approvals.
Benton Capital is well funded with approximately $1 million in cash.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Capital Corp., is the qualified person responsible for this release and has reviewed and approved all scientific and technical data and disclosures in this release.
On behalf of the Board of Directors of Benton Capital Corp,
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections. || What to Watch in the Day Ahead - Thursday, April 21: (The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) Alphabet Inc is expected to report a rise in first-quarter revenue that is likely to beat analysts average estimate, according to Thomson Reuters StarMine data. Investors will be looking for continued growth at Alphabet's Google unit, which has been driven by strong mobile advertising sales. Investors will also be keen to gather more information on the company's Other Bets business, which includes glucose-monitoring contact lenses and Internet balloons. Capital expenditures in the business are expected to increase this year, although no concrete details have been offered. Microsoft Corp is expected to post an increase in third-quarter revenue, which will also beat analysts consensus estimates, according to Thomson Reuters StarMine data. The company is expected to benefit from growing demand for its cloud products and services. Though Chief Executive Satya Nadella has focused on cloud services and mobile applications, to offset slower growth in its traditional software business, the company is still heavily reliant on PCs. Research firm IDC expects Microsoft's Windows business, which has 270 million active users eight months after launching, will improve later this year as companies that had delayed replacing machines before upgrading to Windows 10 make the switch. Analysts and investors will be looking whether the company has been able to sustain growth in its cloud business, and any impact from a stronger dollar. Visa Inc is expected to report a decline in first-quarter profit as a volatile global economy and the strong dollar cut into revenue from customers outside the United States. Consumers in some slowing economies around the world have been reining in spending. Some analysts say, however, that payment volumes are still likely to grow at Visa due to strong consumer spending in the United States. Story continues Schlumberger Ltd is expected to report a fall in first-quarter profit, hurt by weak drilling activity. The world's largest oilfield services provider, which recently closed its acquisition of Cameron International Corp, warned last month that its revenue would fall by about 15 percent from the fourth quarter. Verizon Communications Inc is expected to report first-quarter profit and revenue in line with analysts average expectations. The No.1 U.S. wireless phone service provider has benefited from heavy promotions as it counters rivals such as AT&T in a crowded U.S. wireless market. The focus will be on commentary around a possible bid for faded Internet pioneer Yahoo's core assets as well as any updates to financial guidance for the remainder of 2016. New applications for U.S. unemployment benefits likely rose last week, but remained well below a level associated with a buoyant labor market. Last week's claims covered the survey period for April nonfarm payrolls and will be dissected to see if there was any impact from the Verizon strike. While striking workers do not qualify for unemployment benefits, some have filed applications in the past. According to a Reuters survey of economists, initial claims for jobless benefits probably rose 10,000 to a seasonally adjusted 263,000 for the week ending April 16. That would leave claims slightly above the March payrolls survey week. (0830/1230) Separately, the Philadelphia Federal Reserve business survey is expected to show manufacturing in the mid-Atlantic region expanded in April for a second month. (0830/1230) Starbucks Corp will release its results for the second-quarter. Starbucks has the high-class problem of having to meet investors' outsized expectation that it will continue reporting industry-leading sales growth. Any stumble, real or perceived, will likely be punished. General Motors Co will announce first-quarter results. The company said on Friday it was recalling nearly 1.04 million newer pickup trucks for a seat belt flaw. The company said the recall in the United States includes 895,232 vehicles and a stop-sale of about 3,000 new 2014 and 2015 model year pickups still on dealer lots. The recall includes about 142,000 vehicles outside the United States. Union Pacific Corp and Norfolk Southern Corp, the No.1 and No.4 U.S. railroad operators, will post first-quarter results. With coal freight volumes still in freefall across the industry thanks to low natural gas prices and the strong dollar, analysts will be watching to see how the railroads are managing costs through furloughs, back office layoffs and mothballing locomotives. Biogen Inc is expected to report a largely in-line first-quarter as prescriptions written for its multiple sclerosis drug remain unchanged in the United States. Management previously noted that the uptick in scripts may not be seen until the second quarter. Investors will also look for more details on the Massachusetts-based drugmaker's hemophilia assets, which the company is said to be looking to sell. Travelers Companies Inc, the first big U.S. insurer to report quarterly results, is expected to report a decline in first-quarter profit due to weak underwriting gains and lower returns from its energy investments. Travelers, which competes with AIG for the title of biggest U.S. commercial property and casualty insurer, has felt a sting in recent quarters from a steep fall in oil prices as they drag on energy investments made through private equity funds. BB&T Corp, Fifth Third Bancorp and KeyCorp are likely to report a decline in first-quarter profit as they put aside more money for sour energy loans. Many lenders have ramped up reserves in recent months, concerned by the increasing number of energy companies that have gone bankrupt and defaulted on loans as oil prices stay stubbornly low. U.S. homebuilders including D.R. Horton Inc and PulteGroup Inc report their quarterly results. D.R. Horton and PulteGroup are expected to report a higher profit for the second and first quarter, respectively, helped by higher home sales. Johnson Controls Inc reports second-quarter earnings amid a pending merger with Ireland-based Tyco International Plc. The merger would save Johnson Controls $150 million a year in taxes. Sportswear maker Under Armour Inc is expected to report first-quarter profit below analysts' estimates, according to Thomson Reuters StarMine data. Under Armour's gross margin in the quarter is expected to have been hit by higher promotions to clear excess inventory and slowing apparel sales growth, the company's largest source of revenue. A fall in the average price of its running footwear and a shift in sales mix towards lower-margin footwear are also expected to hurt margins. Investors will look for an update to the forecast, inventories, and comments on the Sports Authority bankruptcy. Advanced Micro Devices Inc is expected to post first-quarter revenue below analysts average estimate, according to Thomson Reuters StarMine data. Investors will be looking for an update on its Polaris graphic processing units, which it plans to ship in the middle of this year. Mexican cement company Cemex SAB de CV reports first-quarter results. Investors will be looking at the impact of the peso depreciation on the company's debt load as well as any recovery in its U.S. business. European Central Bank (ECB) holds interest rate decision. Economists say lackluster demand, not inadequate credit, is holding the euro zone economy back. They say the ECB is unlikely to cut its deposit rate further from the current -0.40 percent. That too underscores the diminishing returns from monetary policy, especially since the ECB is well over a year into its trillion-plus euro stimulus program, has cut rates several times and pledged longterm loans to banks, with little pick-up in inflation so far. The U.S. government and Volkswagen AG face a court deadline to come up with a plan to address excess emissions from 580,000 diesel vehicles sold in the country. Despite robust talks, EPA officials have expressed skepticism if the sides would agree to a deal by the deadline set forth by U.S. District Judge Charles Breyer. A judge will read out the verdict in the bribery trial of Canadian Senator Mike Duffy, whose high-profile case helped reduce the popularity of former prime minister Stephen Harper and contributed to his defeat in an October 2015 election. The Liberals of Prime Minister Justin Trudeau used the case as an example of how they said the Conservatives had been corrupted during their near-decade run in office. Duffy was tried on 31 criminal charges related to activities after Harper appointed him to the Senate, the upper chamber of Parliament. LIVECHAT - BITCOIN'S FUTURE with Anatoliy Knyazev, Executive Director and Co-Founder of Exante brokerage company We talk about the outlook for Bitcoin and its potential role in combating money laundering and financial crime with Anatoliy Knyazev, executive director and co-founder of Exante, a next generation brokerage company that aims to give its clients access to a broad range of financial instruments and markets. (0503/0903) To join the discussion, click here http://bit.ly/1kTxdKD (Compiled by Sourav Bose in Bengaluru; Editing by Savio D'Souza) || This student-loan startup says it has the killer feature to beat big lenders: As you've followed the 2016 presidential campaign cycle, you've no doubt heard mention of the student debt crisis.Earnest, a lending startup that refinances student loans and originates personal loans, thinks it can help.
Loan-refinancing may not seem like the sexiest corner of fintech, but it has very recently become very hot:SoFi(Social Finance), which provides student loans, mortgages and other kinds of loans, scored a $1 billion investment from Softbank in September. The startup advertised during the Super Bowl in February. Smaller startups like Zest Finance use big data to aid underwriting for big lenders, while CommonBond focuses on re-financing. Marketplaces like Lending Club (LC) and Lending Tree (TREE) still advertise heavily as the best places to shop for loans. And all of these newer players claim they have the technology to compete with massive incumbents like Sallie Mae (SLM), Wells Fargo (WFC) and JPMorgan (JPM).
Earnest CEO Louis Beryl says his company has the best strategic advantage of all: its recently launched precision pricing. The tool allows an Earnest customer to select any monthly payment on a loan and change it on the fly; the interest rate will adjust to match. That might sound like the kind of simple function that anyone with a student loan should have been able to do already, but no other lenders yet offer it. A traditional lender provides limited choices for the repayment period—typically five, 10, or 15 years' time. An Earnest customer, using a slider on Earnest's web site, can tweak the monthly payment they want to make to, say, $1,000 a month, and Earnest will react accordingly. "$1,000 a month might mean a 10-and-a-half year loan, not a 10-year loan or a 15-year loan," Beryl says. "We'll give that person the interest rate that corresponds to a 10-and-a-half-year loan."
Beryl launched Earnest in 2013. He got the idea for the company after experiencing his own frustrations when he was denied loans in grad school. "I remember thinking, 'Why weren't financial institutions taking the time to understand me more deeply?' And we had a massive technology disruption where all of our accounts were online now." He jumped on the opportunity. Now Earnest is growing so fast that it originated 50 times as many loans in 2015 as it did in 2014. More than 40 million Americans have at least one student loan.
It wasn't so long ago that if you were a student with a loan who wanted to pay more this month than usual, you had to fill out an elaborate form and snail-mail it to the lender just to have the privilege of paying. Behavior has shifted, Beryl says. In an era of mobile banking, young people are attuned to doing their banking without the face-to-face interaction that traditionally would have been involved in something as weighty as refinancing a loan. Earnest, for now, has no app, but will launch one this year.
Earnest says that with its precision pricing tool, clients have saved an average $17,936 after refinancing. But eager fintech-savvy student borrowers, beware: Refinancing isn't for everyone. As Yahoo Finance's Mandi Woodruffhas warned, refinancing a student loan can be the wrong move in some cases. Remember that if you lower your monthly payment, it will give you more flexibility -- which is especially helpful if you're having trouble repaying the debt -- but you'll also be extending your loan term and end up paying more over thelife of the loan.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Here's a sign that PayPal is embracing Bitcoin || Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn REUTERS - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumours and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favour among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 (£692) in December 2013, when its market capitalisation was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Your first trade for Thursday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of FedEx(FDX).
David Seaburg was a buyer of Gilead(GILD).
Karen Finerman was a buyer of Foot Locker(FL).
Brian Kelly was a seller of the Financial Select Sector SPDR ETF.(NYSE Arca: XLF)
Trader disclosure: On March 23, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Karen Finerman is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. David Seaburg: Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, EDC, F, FCX, GM, GOOGL, INTC, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
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• Personal Finance || 7 Signs Americas Super-Rich Are Finally Losing Power: With billionaire Donald Trump the Republican frontrunner, it may seem like the impact of the ultra-rich on our public life is reaching new heights. A self-proclaimed billionaire (Trump still hasnt released his tax records ), Trumps anti-establishment, anti-Wall Street, anti-free-trade rhetoric has him running as a traitor to his class, though. A loose affiliation of the super rich has been scheming to halt his rise most recently, Mitt Romney but so far, without any success. In fact, there are plenty of signs that plutocrats are losing their grip on the levers of power and influence. Yes, income inequality continues to rage . But plenty of people with ten-figure net worths simply arent getting the satisfaction to which they have become accustomed. We may have reached Peak Plutocrat. The phenomenon can best be seen in politics, where the kings of private enterprise are having a tough time playing kingmaker this time around. Bloomberg for President Remember that? If you blinked, you missed it. In late January, the former Mayor of New York Michael Bloomberg, proprietor of the eponymous company, whose fortune is estimated at $36 billion to $48 billion , briefly considered jumping into the race. Never mind that third-party candidacies dont do well in the U.S., or that Bloomberg's constituency (coastal rich people who are socially liberal) are generally in the Hillary Clinton camp already. The candidacy of Mike Bloomberg, the billionaire candidate beloved by billionaires (hedge fund giant Bill Ackman wrote a passionate pro-Mike op-ed in the Financial Times), failed to launch. And then there was Jeb! Former Florida Governor Jeb Bush blew through $100 million of the establishments money before bowing out. Stanley Druckenmiller, the retired hedge fund billionaire, is backing. . . . John Kasich. The dealmakers from 2012 In 2012, Sheldon Adelson, the Las Vegas casino magnate, played an immensely influential role in the Republican primary and general election. In 2016? Not so much. The Las Vegas Review Journal, the newspaper (!) Adelson recently purchased, has endorsed Marco Rubio , a victor in precisely one caucus. And Adelson has yet to put his card on the table. Story continues The Koch brothers feel disenfranchised For their part, the Koch brothers, who have used their billions to build a highly effective political operation that runs in parallel to the Republican party, are feeling disenfranchised. Far from adopting the Koch Brothers line on free trade, or immigration, the Republican field is running in the opposite direction. "You'd think we could have more influence," Charles Koch groused to the Financial Times . On March 3, Reuters reported the Koch brothers had decided not to use any of their war chest to fight Trumps candidacy. As Reuters notes, the brothers made the decision because they were concerned that spending millions of dollars attacking Trump would be money wasted , since they had not yet seen any attack on Trump stick. No longer minting money, either Billionaires are not doing so hot in the stock market, either. Bill Ackman, the proprietor of Pershing Square, shot the lights out in 2013 and 2014; Ackmans brand of dramatic activism and willingness to go all-in on high-profile stocks gave his fund a impressive returns. But last year , his main fund was off 20.5 percent, net of returns; its off more than 15 percent so far in 2016. Whoops! John Paulson, the hedge fund manger who shot to prominence on the backs of bearish bets on the housing market and was thus elevated into the market sage, is literally half the asset manager he used to be . As air comes out of the markets that Plutocrats rely on and love the stock market, yes, but also junk bonds, tech start-ups, natural resources their spending power and public influence are starting to deflate. (The egos, not so much.) Real estate values wane High-end real estate in London, which has functioned as a sort of safety deposit box for the globes ultra wealthy, is starting to fall . In Manhattan last year, the number of contracts signed on condos worth more than $10 million fell 16 percent, from 270 to 227. So if you're in the business of selling trophy properties to ultra-rich people, you may be struggling. Christie's reported that its sales of fine art were down 11 percent in 2015 and Sotheby's said that so far this quarter, sales are off 33 percent . TV, the lagging indicator Don't get me wrong. While signs are everywhere that their influence on our culture and economy are declining, the Plutocrats like the poor will always be with us. And they will often be unavoidable. One of the better new shows to debut this TV season is Showtime's Billions , featuring Damian Lewis as Bobby Axelrod, a Steve Cohen-esque hedge fund manager. Billions has been picked up for a second season. But even a show that humanizes and dramatizes plutocrats is a sign of their peak. When it comes to business trends, television shows are always an extremely lagging indicator. In the fall of 2000, the debut of a show about the bull market, The$treet, presaged the impending market crash. In October 2005, ABC aired Hot Properties, a sitcom starring Sofia Vergara about a group of realtors in California. The housing market began to crash the following year. See original article on Fortune.com More from Fortune.com The Crisis in Bitcoin and the Rise of Blockchain 3 Ways to Win Over Your Boss Here's Why China Laying Off 1.8 Million Workers Is Actually Good News Your Great Idea Will Fail Without This These Are the Super-Rich People Shaping China || Microsoft Goes Deeper into Blockchain Technology with R3CV Deal: Blockchain and BMW: Microsoft Is Making Big Strides ( Continued from Prior Part ) Microsoft took its BaaS service a notch higher with R3CV partnership Previously in this series, we discussed Microsoft (MSFT), which true to its partnership strategy in the past has partnered with R3CV to push itself ahead of its peers in the blockchain technology space. Since late 2014, Microsoft has tested and accepted bitcoin and its foundation technology, blockchain. In late 2015, Microsoft partnered with ConsenSys and offered EBaaS (Ethereum blockchain-as-a-service) on MS Azure. This BaaS offering is designed to allow partners to interact with different technologies in a relatively low-risk environment such as smart contracts, social networking, and tax reporting services. ConsenSys is a blockchain startup focused on Ethereum technology, which offers an alternative platform to Bitcoin. Unlike bitcoin, which was primarily designed as an exchange of digital currency, Ethereum provides a broader vision to businesses. Anything that can be digitized—including cryptocurrencies, derivatives trading, securities trading, and settlement—will be a service on Ethereum. Primary factors driving the adoption of blockchain technology According to McKinsey and Accenture (ACN) and as the above chart shows, the financial crisis and the increasing preference toward cryptocurrencies are the key factors that could be instrumental in the increased adoption of blockchain technology. This explains Microsoft’s increased initiatives to cement its place in the blockchain technology space, which is bound to see increased adoption. Partnering with R3CV, as well as offering third-party blockchain offerings on Azure, could lead to Microsoft winning business from the world’s leading banks. According to Gil Luria, an analyst at Wedbush Securities, “Microsoft continues to take a leadership position in integrating blockchain technology into its product roadmap.” Luria added, “The relationship with R3 provides Microsoft access to R3’s high-quality collection of the largest banks in the world, which is the most likely group to make early investments in implementing blockchain technology.” Story continues Later in this series, we will discuss how blockchain technology has attracted Microsoft’s peers RedHat (RHT) and IBM (IBM). Investors who wish to gain exposure to Microsoft could consider investing in the Technology Select Sector SPDR ETF (XLK). While XLK invests ~10.6% of its holdings in Microsoft, it also has an exposure of ~38% to application software. Continue to Next Part Browse this series on Market Realist: Part 1 - Microsoft Azure Wins a High-Profile Customer in BMW Part 2 - How Microsoft’s Azure Is Giving Stiff Competition to Amazon’s AWS Part 3 - Why Microsoft’s Partnership with R3CV Is Making News || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool)
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 370.35€ $BTCEUR $btc #bitcoin 2016-03-14 18:00:39 CET || @CCEDK_ anyone know how to withdraw bitcoin from open ledger?? || At all the conferences I've ever attended combined, I've never heard as much casual #Bitcoin talk in the hallways as #ISFLC16 || Liquid Bitcoin || Liquid Bitcoin || http://bit.ly/1gWVX43 BCoin Lets Users Run A Bitcoin Node In Node.js: Are you excite about the prospect of running a… || A unregistered user has won a round in a playground (Faucet) and won 0.00005000 BTC, join @ChopCoin and earn BTC (00:50UTC) || lqyun165293 : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt || Easiest way to buy bitcoins with cash??? http://cur.lv/vx95z #bitcoin#crypto#btc || Liquid Bitcoin
|
Trend: down || Prices: 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67
|
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.
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[Technical Analysis for 2019-10-24]
BTC Price: 7493.49, BTC RSI: 28.82
Gold Price: 1498.90, Gold RSI: 52.21
Oil Price: 56.23, Oil RSI: 57.75
[Random Sample of News (last 60 days)]
Coinbase, Kraken and others develop a system to rate cryptocurrencies on likelihood they are securities: Cryptocurrency exchange operators, including Coinbase, Kraken, Circle Internet Financial and Bittrex, have developed a system to rate which cryptocurrencies are likely to be securities.
The Wall Street Journalreportedthe news on Monday, saying that the system will help the operators to decide which cryptocurrencies to list and not to list for trading on their exchanges.
Via the newly formedCrypto Ratings Council, the operators will publish online ratings of cryptocurrencies on a scale of 1 to 5, with the highest value signifying that a token is a security, per the report. Issuers of tokens reportedly won’t have upfront input in the ratings, although they can provide information to “dispute a score their token received.”
Bitcoin (BTC) is scored as a 1 by the Crypto Ratings Council, indicating that it has a very low likelihood of being a security. Other members of the council include trading and custody firms such as Anchor Labs, DRW Holdings' Cumberland unit, Genesis Global Trading and Grayscale Investments.Here are the ratings of several cryptocurrencies, according to the Crypto Rating Council or CRC. Interestingly, XRP, has a score of 4:
“It’s our hope the SEC [the U.S. Securities and Exchange Commission] will view this as a positive step,” Mary Beth Buchanan, Kraken’s general counsel, was quoted as saying in the report. It “does show the SEC what each exchange is doing to come to a decision.”
TheSEChas, on several occasions, charged token issuers for allegedly violating securities laws, including Kik Interactive and ICOBox. SEC Chairman Jay Clayton recentlysaidthat any selling of securities must play by SEC rules. “If you have an ICO [initial coin offering] or a stock, and you want to sell it in a private placement, follow the private placement rules. If you want to do any IPO with a token, come see us.”
UPDATE: After the publication of this story, a Paxos spokesperson told The Block that the firm is not part of the council as reported by the WSJ. || InstaDApp DeFi Site Raises $2.4 Million From Prominent Crypto Investors: India-based InstaDApp announced Tuesday that it raised $2.4 million to build out its smart wallet. The goal is to help users easily execute advanced transactions through the company’s decentralized finance (DeFi) portal. In the early days of the internet, some of the most valuable properties were portals – websites that gathered information in one place. Now, in the early days of the decentralized web, InstaDApp wants to be a window into multiple DeFi services – one that makes it easy to move assets between them. The round was led by Pantera Capital, with a slew of prominent investors including Naval Ravikant, Balaji Srinivasan, Coinbase Ventures , IDEO Colab, Robot Ventures and Kyber Network’s Loi Luu. Related: Sequoia-Backed Startup Enters DeFi Market With Bitcoin Binary Options In an email to CoinDesk, InstaDApp co-founder Sowmay Jain said his company’s decentralized app (dapp) is an interface to multiple protocols. “For InstaDApp, we focused on building up a layer that acts as the mediator between the user interface and underlying protocols,” Jain said. “This layer, consisting of our smart wallet, bridges contracts and reserve pools, [and] abstracts away lots of complexities.” InstaDapp currently provides interfaces for Compound , Uniswap and MakerDAO . As of this writing, InstaDApp is the fourth-largest dapp in DeFi, according to DeFi Pulse , with $30.8 million worth of assets locked in its smart contracts (up from only $4.2 million in early July). “InstaDApp is a very talented team out of India looking to make decentralized finance more accessible,” Balaji Srinivasan, formerly of Coinbase and Earn.com, wrote in a blog post shared with CoinDesk prior to publication. Related: Ripple’s Xpring Looks to Build XRP DeFi Products With New Acquisition “India is actually our second-biggest source traffic after America,” despite the fact that the central bank has restricted financial institutions from facilitating crypto transactions, Sowmay wrote. “The movement might be slowed down, but it cannot be stopped.” Story continues Notably, InstaDApp’s Jain is 21 years old; fellow co-founder Samyak Jain is 19. Nevertheless, they have pivoted their lives to crypto, writing in a blog post shared with CoinDesk that they have dropped out of school to “become full-on ‘native DeFi.'” They wrote: “We realized that the traditional finance systems we were studying in school were slow to innovate, extremely restrictive, tightly controlled by financial giants and bound by geographical constraints. With DeFi, though, we realized that we can not only participate, but [are] also able to innovate globally from day one.” InstaDApp co-founders Sowmay Jain and Samyak Jain image via InstaDApp Related Stories WATCH: Chainlink CEO Talks Data Oracles What the Holy Land Reveals About Bitcoin || Housing Stocks: Surprising Picks as Leaders of the Coming Rally: When I saw the headline below last Tuesday, it made me angry. Really angry. Check this out.
Source: Shutterstock
A “Lehman-like” market disaster could happen this week, analyst warns
Seriously?
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The analyst cited negative sentiment triggered by the inversion of the yield curve and how it correlated to 2008. (Here’s the articleif you really want to read it.) I think he needs to be held responsible if he’s wrong.
I am sick of hacks trying to make names for themselves with insane and irresponsible Doomsday Calls. Do yourself a favor and ignore them. Instead of becoming fearful with these crazy calls, now is the time to set yourself up for big profits.
I think we’re headed for one of the greatest “melt-ups” (as my colleague Steve Sjuggerud accurately calls it) over the next 12-18 months. The new issue ofInvestment Opportunitieswill focus on stocks that I believe will be among the leaders of that rally, and I want to give you a preview of my analysis today.
Let’s dispense quickly with the idea that a recession is around the corner. I shared my full market outlook with you this weekend, but I’ve written before about the inverted yield curve and talked about it at length in a recent MoneyLine podcast (whichyou can listen to here).
I’ll share one stat with you now: Over the last 40 years, an inverted yield curve has actually been more of a buy signal than a recession indicator. Since 1978, the market has gained 20%+ on average one year after the inversion event when the 10-year Treasury begins to yieldlessthan the two-year Treasury.
Add in the likelihood that the Fed will lower interest rates a couple more times this year, and the odds of a major rally increase.
But even if you’re skeptical, please don’t ignore a tried-and-true buying opportunity that so many other investors are missing amid the panic.
I’m talking abouthousing stocks. I know. They don’t sound as exciting asnext-generation batteries, artificial intelligence, autonomous vehicles, or personalized medicine. But who cares — as long as they can make us money?
Take a look at theiShares U.S. Home Construction ETF(BATS:ITB). It broke above $40 last week for the first time since last June. That is a potentially major breakout going back to levels from 18 months prior. It also broke out of a consolidation phase that lasted about three months.
Those are two bullish technical indicators, and I see more upside ahead with very low housing stock valuations and strong fundamentals.
You may not hear much about strong fundamentals in the current environment, but they’re there.Home Depot(NYSE:HD) is at all-time highs, andLowe’s(NYSE:LOW) is within about 6% of its peak. Both reported solid sales growth, as did consumer bellwethersWalmart(NYSE:WMT) andTarget(NYSE:TGT). This tells us that the consumer is doing pretty well, and so is the housing market.
It’s simple if you ignore the noise and doomsday headlines. Long-term interest rates are down, which means mortgage rates are, too. Any way you slice it, lower mortgage rates boost housing. They make homes more affordable.
We already see potential home buyers on the move. Mortgage applications (the orange line below) have turned sharply higher as rates (the blue line) have fallen.
Note how mortgage originations fell to their lowest level since mid-2014 earlier this year but are back on the upswing — to their highest levels in about two years, in fact. The last time mortgage rates were this low (late 2016), mortgage originations spiked above $600 billion.
I look for a similar spike to occur in the next few quarters. A move from $344 billion in the first quarter to over $600 billion would be a massive 75% surge … and would light an even bigger fire under housing stocks.
The opportunity is more than just low rates. There are multiple catalysts to drive housing stocks higher in the coming months, including high employment, consumers’ willingness to spend, still-low valuations, and millennials buying homes as they start families. That last one is especially big and could last for years, as we are in the early stages of the greatest wealth transfer in U.S. history, from the baby boomers to the millennials.
I focus a lot on cutting-edge trends and breakthroughs, likebatteries that will change the way we live and communicate. That’s where a lot of the life-changing gains will come from. But I don’t ignore more “traditional” trends like housing when the time is right, like now.
I’ll have my full analysis on housing stocks and at least one related stock recommendation in the newInvestment Opportunitiesissue this Thursday. I wanted to let you know today so you can have them on your radar, too.
Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else,click here to learn more about Matt McCall and his investments strategy today.
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The postHousing Stocks: Surprising Picks as Leaders of the Coming Rallyappeared first onInvestorPlace. || China’s Focus on 5G: Investors Should Take Note: This article was originally published onETFTrends.com.
As China looks to become less reliant on the U.S. for resources like technology, its looking to build up its 5G mobile network. As such, exchange-traded fund (ETF) investors should take note of funds that focus on 5G technology.
Per a Reutersreport, “Two of China’s big three state telecom companies, China Telecom and China Unicom, are working together to build a 5G mobile network in a cost-cutting venture that could crimp orders for vendors such as Huawei Technologies.”
As it currently stands, China represents the biggest market for smartphones so building out the country’s infrastructure to accommodate the forthcoming 5G technology will be a major undertaking, especially from a financial perspective. Nonetheless, with major telecom companies combining their resources, this could hopefully lessen the financial blow of such a buildout.
The U.S. and South Korea are already in the midst of implementing 5G services and so China is in a mad scramble to catch up to its global competitors. China itself plans to roll out the service in more than 50 cities by the end of 2019.
With such am ambitious undertaking, ETF investors can look to funds that hone in on 5G technology.
With 5G technology expected to revolutionize the transmission of data, it could lead to smart cities that thrive on digital applications. However, before the deployment of 5G takes place, however, the buildup of its infrastructure is necessary, which is where investors can take advantage of ETFs like thePacer Benchmark Data & Infrastructure Real Estate SCTR Strategy (SRVR) and thePacer Benchmark Industrial Real Estate SCTR Strategy (INDS).
Investors who missed out on the serendipitous run of FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks in the last bull run can look to capitalize on disruptive tech options like 5G technology. 5G technology will use a higher frequency band versus the current 4G technology standard, resulting in faster transmission of data.
Being able to transmit copious amounts of data at a faster rate is certainly of benefit for wireless companies and their users, but 5G could be a major disruptor in various industries. Before this occurs, however, the infrastructure to accommodate this enhanced technology must be in place.
With a buildup necessary in cell towers and distribution warehouses, a demand for public real estate could follow.
As such, investors can look at SRVR, which seeks to track the total return performance of the Benchmark Data & Infrastructure Real Estate SCTR Index. The index is generally composed of the U.S.-listed equity securities of companies that derive at least 85% of their earnings or revenues from real estate operations in the data and infrastructure real estate sectors.
Additionally, investors can look to INDS, which seeks to track the total return performance of the Benchmark Industrial Real Estate SCTR Index. The index measures the performance of the industrial real estate sector of the U.S. equity market, which includes warehouse and self-storage real estate sub-sectors.
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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. Since 2010, International Depository Services Group has offered IRA trustees a genuinely custom approach for self-directed precious metals IRA storage with personalized custodial services, custom depository reporting solutions and inventory management creating a seamless customer experience. For more information on International Depository Services Group, call 888-322-6150 or visit www.InternationalDepositoryServices.com . For more information on Equity Trust’s self-directed IRAs call 800-955-3434 or visit www.TrustETC.com . About International Depository Services Group International Depository Services Group - the most trusted group of depositories for physical precious metals in the world - is a privately-owned and independently-operated subsidiary of Dillon Gage with locations in Delaware, Texas and Ontario. Each location is a state-of-the-art, custom-built, full-service depository that offers secure, efficient and insured precious metals, certified coin and cryptocurrency storage solutions with Class III vaults. Each focuses on custom business logistics solutions including storage, fulfillment, inventory management and many other value-added services. International Depository Services Group maintains several precious metals accreditations, including the commodity exchanges COMEX/CME and the Intercontinental Exchange Futures U.S./ICE; is an associate in the London Bullion Market Association, Industry Council for Tangible Assets and International Precious Metals Institute and is certified for CryptoCurrency Security Standards. IDS of Delaware , formerly Diamond State Depository, opened in 2010 in New Castle, Delaware. IDS of Canada opened in 2013 in Mississauga, Ontario. IDS of Texas opened in 2017 in Dallas, Texas. 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 . About Dillon Gage Metals Dillon Gage is the world leader in physical precious metals trading and technology serving dealers, financial institutions, banks and brokerage houses around the globe. Since 1976, Dillon Gage has led the way in innovation, advanced trading tools, technology and intellect. The firm is one of a handful of firms who are authorized purchasers of bullion (including coins, rounds and bars) for all major world mints and maintains inventory in over 20 countries. Dillon Gage’s integrated products and services include numismatics, bullion and electronic trading of precious metals and fulfillment, API integration, physical gold tracked by blockchain technology, refining and storage. The firm operates FizTrade Online Trading , IRAConnect , Dillon Gage Refining and International Depository Services Group , a privately-owned subsidiary of Dillon Gage Metals, with locations in Delaware, Texas and Ontario. 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) Jo@TrizCom.com 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 || WATCH: Yahoo Finance All Markets Summit: Generational Opportunities: We are living in a time of profound generational change and it has never been more vital for business to bridge and bring together different generations perspectives, skill sets, and passions in order to be successful.The 7th installment of the All Markets Summit franchise will explore generational opportunities; what divides and unites generations in the workplace, across politics, and how collaboration across generations can change business. The sessions will explore The Next-Gen Economy, The 5G Revolution, The Future of Work, Shaping the Future of Healthcare, Currencies Bitcoins & Beyond, Broadening Market Participation, Innovators & Startups.The All Markets Summit will bring together an exclusive group of leaders in business, finance, government, and entertainment who are shaping and defining these new relationships.
See our complete agenda below.*
How Innovation Saves Lives
Interviewed by Andy Serwer
Kenneth C. Frazier
Merck CEO
Wall Street Watchdog
Interviewed by Scott Gamm
Heath Tarbert
CFTC Chairman
The 5G Revolution
Interviewed by Julie Hyman
Hans Vestberg
Verizon CEO
Shaping the Future of Healthcare
Interviewed by Rick Newman
Bernard J. Tyson
Kaiser Permanente CEO
Steven Van Kuiken
McKinsey Senior Partner
The Next Generation of Wealth
Interviewed by Andy Serwer
Raymond McGuire
Citigroup Vice Chairman
Unleash Your Inner Hustle
Interviewed by Alexis Christoforous
Bethenny Frankel
Entrepreneur, philanthropist, author
Managing Under Pressure
Interviewed by Adam Shapiro
Eric Trump
Trump Organization Executive Vice President
The Next-Gen Economy
Moderated by Myles Udland
Barbara Humpton
Siemens U.S. CEO
Joe Ucuzoglu
Deloitte U.S. CEO
Future of Sports Ownership
Interviewed by Dan Roberts
Shad Khan
Jacksonville Jaguars Owner
The Fed, the Markets, and the Economy
Interviewed by Brian Cheung
Neel Kashkari
Minneapolis Federal Reserve President
Driven By a Healthy Purpose
Moderated by Brian Sozzi
Mindy Grossman
WW CEO
Paula Schneider
Susan G. Komen CEO
Trust, and Broadening Market Participation
Moderated by Julie Hyman
Richard Edelman
Edelman CEO
Dan Houston
Principal Financial CEO
Sallie Krawcheck
Ellevest Founder & CEO
The Future of Investing
Interviewed by Andy Serwer
Adena Friedman
Nasdaq CEO
The Next Generation of Communities
Interviewed by Rick Newman
Larry Hogan
Maryland Governor
National Governors Association Chairman
Inside Facebook & Instagram
Moderated by Zack Guzman
Eva Chen
Instagram Director of Fashion Partnerships
Mark D’Arcy
Facebook Chief Creative Officer
The Future of Work is Now
Moderated by Sarah O’Carroll
Paul Daugherty
Accenture Chief Technology & Innovation Officer
Robert Falzon
Prudential Vice Chairman
A Pioneer Innovates for the Next Generation
Interviewed by Andy Serwer
Jes Staley
Barclays CEO
Founders
Moderated by Jen Rogers
Anu Duggal
Female Founders Fund
Banu Guler
Co-Star Co-Founder
Susan Lyne
BBG Ventures President
KJ Miller
Mented Cosmetics Co-founder & CEO
Playing to Win
Moderated by Dan Roberts
George Pyne
Bruin Sports Capital CEO
Fmr. IMG president, Fmr. Nascar COO
Jay WilliamsESPN host, NCAA Champion
Playbook For Success
Interviewed by Julia La Roche
Stephen Schwarzman
Blackstone Chairman & CEO
*Note: Line-up is subject to change. || Investors Downplay Self-Proclaimed Bitcoin Inventor’s Liquidation Warning: (Bloomberg) -- Craig Wright is warning that billions of dollars in Bitcoin could soon flood the cryptocurrency market after an unfavorable court hearing.
Investors seem to be taking the alert in stride, with Bitcoin little changed at about $10,150 after the self-proclaimed inventor of the cryptocurrency under the pseudonym Satoshi Nakamora said he “has no choice” but to hand over $5 billion to the estate of his late business partner, Dave Kleiman.
“I’m not worried about Craig transferring Bitcoin to Kleiman because I don’t think he has any to transfer,” Ryan Selkis, chief executive officer at crypto researcher Messari Inc., said in an email. “It’s a sideshow, not a real story.”
Wright is defending himself against allegations that he stole Bitcoins and intellectual property from the Kleiman estate. Speculation that the judge reached a decision in the case spiked late Monday after a Twitter user claimed to attend the latest court hearing. Nothing has been filed yet by the federal court in Florida.
“The judge still has to make the final decision,” Ed Pownall, a spokesman for Wright, wrote in an email to Bloomberg.
That hasn’t stopped Wright from warning of the potential consequences.
“The courts ruled that Ira (Kleiman, brother of Dave Kleiman) inherited those billions,” Wright wrote in an email forwarded by Pownall. “Now he has to pay estate tax on that if he wants it.”
Wright said in earlier testimony that he handed off a key piece of information to Kleiman before he died in 2013, making it hard to track down the digital wallets holding the Bitcoins. He said it’s possible he may never be able to access the coins.
“The Kleiman family has waited a long time to recover assets that should have been returned to it shortly after Dave’s unfortunate death in 2013,” Devin Freedman, a partner at Roche Freedman LLP, which represents the estate, wrote in an email Monday to Bloomberg.
To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.net
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Rita Nazareth
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || A Dangerous Bug in Bitcoin’s Lightning Network Has Been Fixed: A popular payments network running atop the bitcoin blockchain suffered from a long-standing code vulnerability – one where attackers could drain users’ of their money.
While initially flagged to the public onAug. 30by bitcoin developer Rusty Russell, the full disclosure detailing how this vulnerability could be exploited by an attacker was released Friday.
“An attacker can claim to open a [lighting payments] channel but either not pay to the peer, or not pay the full amount,” Russell wrote in thefull disclosure.
Related:Lightning Sucks, But It Could Help Build a Bitcoin Economy
The lightning network is a Layer 2 payments protocol enabling ultra-fast and nearly costless transactions atop the bitcoin blockchain. In order for users to send transactions across the lightning network, they must open what are called “payments channels” to send and receive funds from other lightning users.
Without the proper checks, an attacker could pretend to open a new payments channel and send fake transactions. Being duped, an honest user could then send back real money to the attacker not knowing the previous transactions had been completely artificial. It’s unclear how many users fell victim to such attacks.
Already, all major lightning software clients have been upgraded to fix this vulnerability, according to Russell.
When asked why it took three months for the vulnerability to be disclosed to users, Pierre-Marie Padiou – the CEO of acompanymaintaining one of the three most popular lightning implementations – said developers had to err on the side of caution.
Related:Bitcoin Shopping App Fold Raises $2.5 Million to Bring Lightning to Retailers
“The problem with this vulnerability is that once you know about it, it seems so obvious,” said Padiou. “Three months is not a long time. It’s a pretty short time because you have to give users the amount of time needed to update. … A lot of users don’t do it.”
Lightning developers, he added, did not want to risk revealing the vulnerability until absolutely sure no users were at risk.
“There are always problems. Even on the bitcoin protocol, there have been bugs,” Padiou said, adding:
“There will always be bugs. What matters the most is how to handle this in the best way to protect users.”
Acinq software developer Bastien Teinturier image viaTwitter
• Bitcoin Lightning Network Specs Pass First ‘Formal’ Security Test
• Lightning Wallet Zap Launches in-App OTC Desk for Bitcoin Buyers || Bitcoin back above $10,000, as market anticipates Bakkt futures launch: After spending less than one full day at a four-figure valuation,Bitcoinhas risen back above $10,000—just three days ahead of the long-awaitedBakkt futures launch.
Since the digital asset fell over $500 in the early hours of September 19, down to $9,570, Bitcoin rose by 5% in just 6 hours, up $900.
After breaking above the psychological $10,000 price, and reaching a high of $10,450 last night, the dominant cryptocurrency has consolidated a bit, currently sitting around $10,190.
There have been three main pieces of news for Bitcoin this week that may have affected its price.
First, VanECK and SolidXpulled the plugon their Bitcoin ETF application, which, if approved, would have provided a secure way for institutional investors to get stuck into the Bitcoin market. Although, it was widely expected that the SEC would refuse the application anyway.
Second, Bakkt's imminentlaunchof its much-awaited Bitcoin futures offering, which will similarly be targeted at institutional investors. The firm has agreen light from the CFTC, as well as approval for Bitcoin custodian services by the NYDFS (insured up to the value of $125 million). Both Fundstrat Global AdvisorTom Leeand Bitcoin bull John McAfee havetweetedtheir support for its launch.
Third, derivatives marketplace CME hasannouncedit will expand its Bitcoin futures offering to include "options trading," a more conservative way of trading that's similar to futures trading. This shows that it sees enough demand to increase its offering.
With a mixed basket of news, it's not surprising that Bitcoin's price is fluctuating. But will Bakkt send it on its way? || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 22/09/19: Bitcoin Cash ABC Sees Red again
Bitcoin Cash ABC fell by 1.24% on Saturday. Following on from a 2.56% slide on Friday, Bitcoin Cash ABC ended the day at $310.99. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $315.77. Falling short of the first major resistance level at $323.63, Bitcoin Cash ABC slid to a mid-day intraday low $309.51. Steering clear of the first major support level at $308.73, Bitcoin Cash ABC recovered to an afternoon high $314.09. A late slide back to $310 levels left Bitcoin Cash ABC in the red on the day. At the time of writing, Bitcoin Cash ABC was down by 0.90% to $308.20. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning high $309.51 to a low $308.20. Steering clear of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $308.41. For the day ahead, Bitcoin Cash ABC would need to move through to $312 levels to support a reversal of Saturdays losses. Bitcoin Cash ABC would need support of the broader market, however, to take a run at the first major resistance level at $314.67. Barring a broad-based crypto rally, the first major resistance level and Saturday high $315.77 would likely limit any upside. Failure to move through to $312 levels could see Bitcoin Cash ABC spend a 3 rd consecutive day in the red. An extended sell-off through the day would bring the second major support level at $305.83 into play before any recovery. Litecoin Takes Another Hit Litecoin slid by 2.52% on Saturday. Following on from a 2.25% fall from Friday, Litecoin ended the day at $73.18. A bullish start to the day saw Litecoin rise to an early morning intraday high $75.5 before hitting reverse. Falling short of the first major resistance level at $77.23, Litecoin fell through the first major support level at $72.94 to a mid-day low $72.88. Finding support in the early afternoon, Litecoin recovered to $74 levels before taking another hit. The 2 nd reversal saw Litecoin fall back through the first major support level to an intraday low $72.04. Story continues Litecoin found support from the broader market, however, to limit the downside late in the day. At the time of writing, Litecoin was down by 1.15% to $72.34. Tracking the broader market, Litecoin fell from an early morning high $73.25 to a low $72.13. Litecoin left the major support and resistance levels untested early on. For the day ahead, Litecoin would need to move through the morning high $73.25 to $73.60 levels to support a day in the green. Support from the broader market would be needed, however, for Litecoin to take a run at the first major resistance level at $75.11. Barring a broad-based crypto rally, however, Litecoin would likely come up short of $74 levels on the day. Failure to move through to $73.60 levels would see Litecoin spend a 4 th consecutive day in the red. A fall through to sub-$72 levels would bring the first major support level at $71.65 into play. Barring an extended sell-off through the day, however, we would expect Litcoin to steer clear of the second major support level at $70.11. Ripples XRP back at $0.28 Levels Ripples XRP fell by 1.36% on Saturday. Following on from a 2.66% slide on Friday, Ripples XRP ended the day at $0.29054. A particularly bullish start to the day saw Ripples XRP rise to an early morning intraday high $0.29843. Falling short of the first major resistance level at $0.3038, Ripples XRP slid to an early afternoon intraday low $0.28701. Steering clear of the first major support level at $0.2848, Ripples XRP recovered to an afternoon high $0.29432. The visit to $0.2940 levels was brief, however, with Ripples XRP sliding back to wrap up the day at $0.2900 levels. At the time of writing, Ripples XRP was down by 2.52% to $0.28322. A particularly bearish start to the day saw Ripples XRP slide from an early morning high $0.2050 to a low $0.28263. Falling short of the major resistance levels, Ripples XRP fell through the first major support level at $0.2856. For the day ahead, Ripples XRP would need to break through the first major support level to $0.2920 levels to signal a rebound. With heavy gains for the current week, however, Ripples XRP would need the support of the broader market to break out from $0.2920. Barring a broad-based crypto rebound, Ripples XRP would likely fall short of the first major resistance level at $0.2970. Failure to move through to $0.2920 levels could see Ripples XRP spend a 4 th consecutive day in the red. A fall back through the morning low $0.28263 would bring the second major support level at $0.2806 into play. Barring an extended sell-off through the day, Ripples XRP should steer clear of sub-$0.27 levels on the day. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Trend Changes to Down if 26900 Fails to Hold GBP/USD Weekly Price Forecast British pound choppy for the week The Week Ahead Geopolitics, the RBNZ and Stats in Focus Is a Price Revaluation Event About To Happen? Weekly Wrap Stats, Geopolitics, and Monetary Policy Drove the Majors European Equities Weekly Review 21/09/19
[Random Sample of Social Media Buzz (last 60 days)]
#TRON $TRX:
➡️ Price (USD) $0.0162070373
➡️ Price (BTC) 0.00000198
Exchange on Binance with 50% discount trading fee 💸 😊
➡️ https://t.co/Nvn3jbicFi
Receive $10 on Coinbase
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Find out how here 👉 https://t.co/8wNoAJN7x9 or click my link in bio!
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今注目のビットクラブ。
フォローしますので興味ある方は個別にDM下さい。あくまでも余剰資金で。
https://t.co/wkF0XXiYqM
#マイニング #ビットコイン #ビットリージョン #bitcoin https://t.co/0E9mPIOkVk || #BTC オシメなの？L3回も、損切りしてるけど… || https://t.co/1nUOhSZNZS
#Drife #IEO #ethereum #bitcoin
|
Trend: up || Prices: 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
First Bitcoin Capital Corp. Signs Evaluation Agreements with Emercoin International Development Group, To Develop and Market Solutions to Provide Distributed Blockchain Services For Business and Personal Use: VANCOUVER, BC / ACCESSWIRE / January, 28, 2016 /First BITCoin Capital Corp. (BITCF) announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. First BITCoin has signed certain evaluation agreements to promote Emercoin technology for wide spectrum of blockchain based technologies:
1. EMC/SSH- Secure shell management system needed by every site admin.
2. EMC/DNS- Uncensored domain name system, peering with OpenNIC.
3. EMC/LNX-- Decentralized pay-per-click advertising network.
4. EMC/SSL- System for password less authentication on the world wide web.
5. Info/Card- Storage for electronic business cards for use with EMCSSL.
6. EMC/TTS- Trusted storage for digital timestamps on the blockchain.
7. MAGNET - Distributed torrent tracker for internet file sharing.
8. EMC/DPO- Digital proof of ownership solution for physical or digital goods and services.
First BITCoin is also evaluating investing in Emercoin to support Emercoin's market expansion and acceptance worldwide.
Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer credit values. We consider Emercoin as a technological platform for distributed, censorship–proof and scalable services. So we developed a suite of services running on top of the Emercoin blockchain that will be very useful for a lot of companies and even private persons."
In addition, our goal is provide stable, robust and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficient and security.
"We are excited to have the opportunity to evaluate and possibly invest in EMERCOIN , especially due to their recent partnership with Microsoft Corporation (NASDAQ:MSFT) to deliver their blockchain services to the Azure cloud's Blockchain-as-a-Service marketplace, also known as BaaS Platform," the Company spokesperson said. "We are always looking for disrupting, new and promising technologies, and are ready to invest in those companies to help them to market their technology worldwide."
About EMERCOIN Group
EmerCoin (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency and blockchain platform has just partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services that are ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real world solutions for business and consumer use.
Emercoin will be delivering their suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and make use of Emercoin's many services such as digital proof of ownership and identity, passwordless authentication on the internet, network security, the first distributed advertising network and many E-commerce solutions like the Emercoin secure micropayment service.
For more information please visitwww.Emercoin.com.
About First BITCoin Capital Corp.
First Bitcoin Capital Corp. is a development-stage Canadian-based mining company currently holding concessions of Gold in Venezuela and is developing technology for the crypto-currency industry. It is the first vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace.
The Company is developing the following digital assets
www.CoinQX.com- online cryptocurrency Exchange.
www.BITessentials.com- online shopping mall (in Beta testing) allowing multiple vendors to place their products ans sell for cryptocurrency. Company has partnered with GoCoin , A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to Blockchain currency payments including Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout.
www.iCOINews.com - Real time crypto currency news aggregator platform.
www.BITminer.cc- Mining and equipment sales for cryptocurrency miners.
The Company currently develops other innovative projects.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release includes various "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, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "plans," "anticipates," "intends," or "expects," or similar expressions or statements regarding intent, belief of current expectations used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.
Contacts:
info@bitcoincapitalcorp.combitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Antwerp diamond trade turns to fintech platforms: Diamonds love Antwerp.
At least, that is the official slogan of theAntwerp World Diamond Centre(AWDC), the public/private company (it's part government-owned) that oversees the diamond trade in Antwerp, Belgium, the world's leading city for buying and selling the stone. In 2014 some $59 billion worth of diamonds (in USD) were brought into or exported out of Antwerp—more than 5% of the GDP of Belgium. The AWDC serves as a watchdog for the industry, sets standards and promotes the market, and has a commercial arm that counts all the world's leading diamond dealers as members.
But lately, the global market doesn't love diamonds. Sales declined across the board last year, and Antwerp saw its own trade volume fall some 18%, from $59 billion to $48.3 billion. (AWDC points out that "competitors such as India and Israel endured much steeper declines.")
To address the diamond downturn, AWDC is turning to unlikely partners: fintech startups. It announced today a "pilot project" with San Francisco-based Uphold and Belgium-based FX4BIZ. Both are payment platforms that allow for fast and free conversion between many different currencies, including fiat and virtual currency, and commodities.
"We, as the industry’s representative organization, are always searching for new technologies and ways to distinguish ourselves from our competitors," said AWDC CEO Ari Epstein in a statement. Last year the AWDC held a diamond investment symposium with Morgan Stanley (MS), and Epstein says the two new partnerships are a result of the symposium.
For Uphold, which markets itself as a sort of cloud-money vault, this deal brings not just financial potential, but the legitimacy of a global market partner to a still-nascent platform that rebranded at the end of last year. Uphold launched in 2014 as BitReserve, and originally customers needed to deposit funds in the virtual currency bitcoin. They could convert money into dollars, pesos, francs, and other currencies or even precious metals, but they had to start in bitcoin. That is no longer the case, and Uphold dropped the "bit" from its name, seemingly to distance itself from the controversy and stigma of the digital coin.
The web site now allows for conversion into23 different fiat currencies(including dollar, euro, pound, shekel, rupee, and yen), plus four metals (silver, gold, palladium and platinum) and bitcoin. About $836 million in transactions has been moved around on Uphold, with $85 million currently held in Uphold wallets.
"Some of the legacy players in this space are very focused on specific virtual currencies," says Uphold CEO Anthony Watson, likely referring to bitcoin, "but... I predict in the next 5-10 years virtual currencies will become vertical to support vertical businesses and industries. If you look at our platform, we deal in all forms of currency. We'll support any and all types of value that the market supports."
Watson, a former chief information officer at Barclays (BCS) and then at Nike (NKE), surprised many when he left to join Bitreserve. Its founder, Halsey Minor, a founder of technology news site CNET, brought Watson on for his banking experience, then made him Uphold's CEO after only a few months. Watson has said he hopes Uphold can serve to level the financial playing field, bringing banking service to the unbanked and underbanked.
Thanks to the AWDC partnership, "We get to showcase our platform in something that hasn't been done before," he tells Yahoo Finance. As for AWDC, "They needed areal-time platform that allows for payment processing and clearing for their traders and dealers." Uphold says using its platform will save diamond traders "tens of millions of dollars each year."As a result of the partnership, Uphold is also opening a new office in Antwerp.
AWDC will encourage its member companies, which in turn have relationships with some 2,000 diamond dealers around the world, to use Uphold or FX4BIZ for their banking services, foreign exchange and money transfer services. The value proposition of these startups is that they allow for the conversion and transmission of funds much faster and cheaper than traditional wire transfer. Whether diamond traders will hop on board is a different question.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Bitcoin industry consolidates: Why Kraken bought Coinsetter || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday.
The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks.
One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said.
"To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process.
Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities.
(Reporting by Carl O'Donnell; Editing by Peter Cooney) || Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet: Watch the video of ‘Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet’ on MoneyTalksNews.com.
If you want a quick glimpse at who’s likeliest to be our next president, don’t listen to pollsters and pundits. Follow the money.
We don’t mean the big bucks of super PACs or even the millions from small-money donors.
We’re talking about real money people who wager on election outcomes. It turns out that the collective wisdom of bettors has a better record of predicting winners than the talking heads.
One place that bettors congregate online is theIowa Electronic Markets, or the IEM, at the University of Iowa.
“If you look at polls run during the election, in about 75 percent of the cases, Iowa’s market prices predict the outcome of elections better than the polls,” says Joyce Berg, a University of Iowa accounting professor who oversees the IEM.
Frederick Boehmke, University of Iowa political science professor and faculty adviser to the Hawkeye Poll, recently explained why to theQuad City Times newspaper.
“A poll asks a person’s preference, what they want to happen,” Boehmke said. People investing in the IEM, however, “are trying to make money, so they pick the candidate or party they think will win. They typically set aside personal preferences to make money.”
Also, a poll is a snapshot at a moment in time, Boehmke said. The market “is about who will win in the end.”
The IEM and another exchange,PredictIt, which is set up in Washington, D.C., under the auspices of Victoria University of Wellington, New Zealand, say the predictions work because the “wisdom of crowds” aggregates the expectations of thousands of bettors who have skin in the game.
A now-defunct exchange calledIntradein 2012 “predicted” the electoral outcome in 49 of the 50 states.
People who put up real money are more likely to consider all the available information than people who just offer their opinions, says Money Talks News financial expert Stacy Johnson.
That information could include economic and business conditions, stock market performance, inflation and employment rates as well as other factors that could sway voters’ moods. Once invested in the outcome, bettors follow campaigns closely. As on a stock exchange and similar to fantasy sports leagues, bettors can make or lose money buying and selling their shares in the outcomes in which they invested.
You can get in on the action.
In exchanges, bettors actually are traders who buy and sell real-money contracts based on their beliefs about “yes or no” election outcomes. Unlike a casino sports book, the exchange does not set odds. The prices reflect the probabilities of various candidate winning a given political race.
PredictIt explains it this way:
You make predictions on future events by buying shares in an outcome, Yes or No. Each outcome has a probability between 1 and 99 percent, which is converted into U.S. cents.
“For example, Trader A thinks an event has at least a 60 percent chance of taking place so she offers 60 cents for a Yes share. PredictIt matches her offer with that of Trader B, who is willing to pay 40 cents for a No share. Each trader now owns a share in the market for this event on opposite sides. … If an event does take place, all Yes shares are redeemed at $1. Shares in No become worthless. If the event does not take place before the market closes, traders holding shares in No will be paid $1, while Yes shares will be worthless.
At the IEM, you can open an account for $5 to $200.
If you just want to look, check who’s leading the popular bets.
For the moment, according to the exchanges and other betting venues, the odds-on favorite is Hillary Clinton. That doesn’t mean bettors favor Hillary’s politics over those of Bernie Sanders, her rival for the Democratic nomination, or Republican front-runner Donald Trump. It just means they bet she wins. The likelihood of a Trump presidency, according to bettors, is less than 20 percent.
Both the IEM and PredictIt offer markets in who will be the GOP and Democratic presidential nominees. IEM has a market in which party will win the 2016 election as well as one in which you can bet on how the parties will share the popular vote. As of March 11, it was Democrats, about 55 percent, leading Republicans, 45 percent.
The IEM also has a market on who will control Congress (“Republican House, Democratic Senate” is leading).
PredictIt also has bets on upcoming party primaries, including Ohio (Kasich beating Trump, Clinton beating Sanders) and Illinois (Trump trouncing Cruz, Clinton trouncing Sanders) as well as topics such as whether the GOP will have a brokered convention (No is beating Yes) and will Marco Rubio drop out by March 18 (Yes is beating No).
• Election Betting Odds: Run byFox Business reporterJohn Stossel and his producer, Maxim Lott, Election Betting Odds features odds derived from an exchange,Betfair.com, which does not accept American traders due to regulations. It recently showed Clinton with a 64 percent probability of winning the White House and Trump with a 19 percent chance.
• FiveThirtyEight: This site is run by Nate Silver, known for calling the results in 49 out of 50 states in 2008 and all 50 states in 2012, FiveThirtyEight is predicting outcomes from primaries and caucuses based on data from polls and endorsements.
• PredictWise:Run by David Rothschild, an economist at Microsoft Research in New York City, PredictWise aggregates data on politics as well as sports, finance and entertainment. The site says it is does not favor gambling. It does indicate the Democratic nominee has a 69 percent chance of winning the White House compared with the Republican candidate’s 31 percent chance of winning. It also predicts Clinton will be the Democratic nominee by a better than 9-1 ratio over Sanders, and that Trump has a 76 percent probability of winning the GOP nomination.
• Pinnacle Sports: At the Curacao-licensed online betting site, Clinton has the best odds.
• Paddy Power: An online gambling site that mainly features sports, Paddy Power takes bets (not from the United States) onU.S. politics, too. It has Clinton as favored to win; Trump has the second-best odds.
• Predictious: Established after the demise of Intrade, Ireland-based Predictious exchange allows you to buy and sell contracts using Bitcoins, the virtual currency.
Despite all these predictions, they could be dead wrong, Johnson points out.
Ahead of the March 1 Super Tuesday elections,PredictItbettors andPredictWisesaid Trump would win 10 of 11 states and would lose only to Ted Cruz in Cruz’s home state, Texas. Cruz did win in Texas, but he also took Oklahoma and Alaska while Rubio won Minnesota; Trump won in seven states: Alabama, Arkansas, Georgia, Massachusetts, Tennessee, Vermont and Virginia.
So, while you might want to get a handle on the odds for your favorite candidate — and bettors can help — in the voting booth, you need to weigh that with your political convictions.
“You need to do your own research, pick your own candidate and then back that candidate with your vote, no matter what gamblers, polls or pundits say,” he said.
If you were betting on the election, where would you put your money? Does that pick line up with your politics? Share with us in comments below or on ourFacebook page.
This article was originally published onMoneyTalksNews.comas'Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet'.
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• Could These 12 Weird Tax Deductions Save You Money? || Microsoft: Sorry, your bitcoin is still good here: Technology company Microsoft (NASDAQ: MSFT) was forced to apologize on Monday, after accidentally announcing that it would no longer accept bitcoin. Contrary to an earlier statement, Microsoft users can still use the virtual currency to buy content in the Windows and Xbox stores. Earlier on Monday, the software giant mistakenly suggested it had stopped accepting payment in bitcoin. "We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected," a spokesman told CNBC. A now-deleted post on Microsoft's website indicated there was no more bitcoin for Windows 10 and Windows 10 mobile users. The post was picked up by tech site Softpedia Sunday and sent the technology blogsphere buzzing. "You can no longer redeem Bitcoin into your Microsoft account," the errant post read. "Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded." In December 2014, Microsoft began accepting bitcoins for Windows 10 store purchases from users in the United States. Transactions were made through the bitcoin processor BitPay. BitPay said it saw the volume of bitcoin transactions grow 110 percent in 2015 versus a year earlier, according to a blog post this January. BitPay did immediately responded to CNBC's requests for comment. — CNBC's Anita Balakrishnan contributed to this report. More From CNBC Top News and Analysis Latest News Video Personal Finance || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || REUTERS AMERICA NEWS PLAN FOR TUESDAY FEB 2: REUTERS AMERICA MIDDAY NEWS PLAN FOR TUESDAY FEB 2 LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET) Top stories as of 11:30 a.m. on Tuesday. To find stories, search by Slug or Headline Keyword in your CMS or Advanced Search in Media Express. For story queries, please contact us.general-news@thomsonreuters.com For photo queries use USCanada-Pictures-Editors@thomsonreuters.com TOP STORIES Cruz calls Iowa win a victory for 'conservative grass roots' DES MOINES - Relishing his victory in the first Republican nominating contest of the U.S. presidential election, Senator Ted Cruz called his defeat of Donald Trump in the Iowa caucuses a tribute to "conservative grass roots." (USA-ELECTION/ (WRAPUP 5, PIX, TV, GRAPHIC), moved at 10:33 a.m., by Ginger Gibson, 636 words). See also: USA-ELECTION/TRUMP (PIX, TV), moved at 7 a.m., by Steve Holland, 765 words and USA-ELECTION/RUBIO (PIX), moved at 7 a.m., by James Oliphant, 586 words) Virtual tie raises doubts: Can Hillary Clinton close the deal? DES MOINES, Iowa - Hillary Clinton's struggle in Iowa to fend off underdog Bernie Sanders, a self-described democratic socialist, reignited questions about her ability to close the deal with Democratic voters and turned up the pressure on her high-profile White House campaign. USA-ELECTION/DEMOCRATS (PIX, TV), moved at 7 a.m., by John Whitesides, 718 words. FBI joins Flint, Michigan water contamination probe WASHINGTON - The FBI is joining a U.S. criminal investigation into Flint, Michigan's water contamination crisis, a spokeswoman for the U.S. Attorney's Office in Detroit said on Tuesday. (MICHIGAN-WATER/ (UPDATE 2), moved, 599 words) Punxsutawney Phil predicts early spring PUNXSUTAWNEY, Pa. - Punxsutawney Phil, the Pennsylvania groundhog renowned for his ability to forecast the onset of spring, did not see his shadow after emerging from his burrow on Tuesday morning, predicting an early spring. (USA-GROUNDHOG/ (UPDATE 1, PIX, TV), moved at 7:54 a.m., 497 words) Story continues Africa, Asia vulnerable to spread of Zika virus -WHO GENEVA - The Zika virus linked to a microcephaly outbreak in Latin America could spread to Africa and Asia, with the world's highest birth rates, the World Health Organization warns as it launches a global response unit against the new emergency. (HEALTH-ZIKA/ (UPDATE 1, TV, PICTURE), moved, by Stephanie Nebehay, 305 words). See also: HEALTH-ZIKA/OLYMPICS, moved, 100 words and HEALTH-ZIKA/AUSTRALIA, moved, by Jane Wardell, 380 words Nine migrants, including two babies drowned off Turkish coast- coastguard ISTANBUL - Nine people, including two babies, are found drowned off the coast of western Turkey after a boat carrying people to Greece partly capsizes, the coast guard says. (EUROPE-MIGRANTS/TURKEY (UPDATE 1), moved, 181 words) PM resigns as Haiti scrambles for interim government before deadline PORT-AU-PRINCE - Haiti's prime minister has resigned, government sources said, in an attempt to clear the way for a temporary government to replace outgoing President Michel Martelly after a botched election and violent street protests last month. (HAITI-ELECTION/ (UPDATE 2, TV, PIX), moving shortly, 391 words) Bill Cosby fighting sex assault charge in Pennsylvania court NORRISTOWN, Pa. - Bill Cosby appeared at a suburban Philadelphia courthouse on Tuesday to fight sexual assault charges, which his lawyers say violate a decade-old agreement with a former district attorney not to prosecute the disgraced comedian. (PEOPLE-COSBY/ (UPDATE 3, PIX, TV), moved, 485 words) CAMPAIGN Bernie Sanders shows strong momentum on social media NEW YORK - It may be too close to call between Democratic presidential candidates Hillary Clinton and Bernie Sanders in the Iowa caucuses on Monday but the senator from Vermont was the clear winner on social media. (USA-ELECTION/SOCIALMEDIA (UPDATE 3, PIX), moved, 370 words) Cruz's Iowa victory could be big blow to Big Corn NEW YORK - Ted Cruz's victory on Monday in corn-rich Iowa could represent a major blow to the nation's controversial biofuels program, reflecting its waning influence over politicians even in the U.S. farming heartland. (USA-ELECTION/ETHANOL (UPDATE 1, PIX), moved, 670 words) WASHINGTON Pentagon's 2017 budget reshapes spending amid changing security environment WASHINGTON - Defense Secretary Ash Carter said on Tuesday the Pentagon would seek a $582.7 billion defense budget next year and reshape its spending priorities to reflect a new strategic environment marked by Russian assertiveness and the rise of Islamic State. (USA-DEFENSE/BUDGET (UPDATE 1, PIX, TV), moving shortly, 404 words) U.S. military leaders: women should have to register for draft WASHINGTON - U.S. armed forces leaders said on Tuesday that women should be required to register for the military draft, along with men, as the military moves toward integrating them fully into combat positions. (USA-MILITARY/WOMEN (UPDATE 1, PIX), moved, 390 words) IS pushed back in Iraq, Syria, but a threat in Libya -Kerry ROME - An international coalition is pushing back Islamic State militants in their Syrian and Iraqi strongholds but the group is threatening Libya and could seize the nation's oil wealth, U.S Secretary of State John Kerry says. (MIDEAST-CRISIS/COALITION (UPDATE 1, PICTURE, TV), moved, by Arshad Mohammed, 590 words). See also: MIDEAST-CRISIS/IRAQ-IS (INSIGHT, PICTURE), moved, by Samia Nakhoul, 1,515 words New European, U.S. data transfer pact imminent - sources BRUSSELS - European and U.S. negotiators are on the brink of clinching a new transatlantic data transfer pact which should prevent EU regulators from restricting data transfers by firms, two people familiar with the talks say. (EU-DATAPROTECTION/USA (EXCLUSIVE, UPDATE 2), moved, by Julia Fioretti, 525 words) China defends law enforcers as U.S. calls for clarity on booksellers BEIJING/WASHINGTON - China's Foreign Ministry says its law enforcement officials will never do anything illegal, especially not overseas, after the United States calls on China to clarify the status of five missing Hong Kong booksellers. (HONGKONG-BOOKSELLERS/USA (UPDATE 1, TV), moved at 5 a.m., 430 words) OTHER U.S. NEWS Leader of Oregon occupation to appear in court PORTLAND, Ore. - Ammon Bundy, who led a group of armed protesters in the occupation of a wildlife refuge in remote Oregon, will appear in federal court in Portland where his attorneys will argue that he should be released on bail ahead of his trial. (OREGON-MILITIA/COURT, expect by 3 p.m. 400 words) White Michigan ex-cop to be sentenced in beating of black motorist DETROIT - A white former suburban Detroit police officer is scheduled to be sentenced on Tuesday for the beating last year of a black motorist during a traffic stop caught on video. (MICHIGAN-POLICE/SENTENCE, moved at 9:28 a.m., 221 words, will be led) Controversial Detroit school manager to step down this month DETROIT - Detroit Public Schools' emergency manager Darnell Earley is stepping down later this month, Michigan Governor Rick Snyder said on Tuesday. (DETROIT-EDUCATION/ (UPDATE 1), moving shortly, about 400 words) Ferguson, Mo., to hear from public on proposed justice reforms FERGUSON - Residents of Ferguson, Missouri, which has a proposed agreement with the U.S. Justice Department to reform its police department after the 2014 shooting by a white officer of a black teenager, will voice their opinions on the deal at a meeting on Tuesday night. (MISSOURI-FERGUSON/, moved at 1019 am ET, 270 words) Georgia to execute its oldest death row inmate for 1979 murder ATLANTA - A 72-year-old man convicted of murdering a convenience store manager in a 1979 robbery in Atlanta's suburbs is set to be executed on Tuesday in Georgia. (USA-EXECUTION/GEORGIA (PIX), moved at 7 a.m., 281 words) Three teenagers arrested in fatal shooting at Seattle homeless camp -- Three teenagers were arrested on Monday in connection with a shooting at a Seattle homeless encampment where two people were killed and three wounded, police said. (SEATTLE-SHOOTING/, moved, 181 words) Teacher arrested in Southern California jail escape freed LOS ANGELES - A teacher arrested in connection with the escape of three inmates from a Southern California jail was freed from custody on Monday after prosecutors said they did not have enough evidence to charge her with a crime. (CALIFORNIA-ESCAPE/ (UPDATE 1), moved at 11:45 p.m., 383 words) SUPER BOWL Super models, super heroes add up to Super strange Media Day SAN JOSE - Media Day was transformed into Opening Night for Super Bowl 50 but the switch to prime time did nothing to change the zany tone as super models and super heroes mingled with giants of sports journalism. (NFL-SUPERBOWL/MEDIA (PIX), moved at 2:15 a.m., 397 words) Newton shows serious side at media night SAN JOSE - Cam Newton became known for his on field celebrations during the Carolina Panthers march to Super Bowl 50, but the quarterback says preparation is what brings him real joy. (NFL-SUPERBOWL/NEWTON (PIX), moved at 2:20 a.m., 368 words) Broncos' Manning says no decision yet on retirement SAN JOSE - Denver Broncos quarterback Peyton Manning said on Monday he has not yet decided whether he will retire following Super Bowl 50 and that he is strictly focused on winning his second NFL championship. (NFL-SUPERBOWL/MANNING (PIX), moved, 360 words) MIDDLE EAST Syrian army threatens to encircle Aleppo as talks falter BEIRUT/AMMAN/GENEVA - A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday while the warring sides said peace talks had not started despite a U.N. statement they had. (MIDEAST-CRISIS/SYRIA (WRAPUP 3, TV, PICTURE), moved, by Tom Perry, Suleiman Al-Khalidi and John Irish, 1,059 words) Iraqis running out of food and medicine in besieged Falluja BAGHDAD - Tens of thousands of trapped Iraqi civilians are running out of food and medicine in the western city of Falluja, an Islamic State stronghold under siege by security forces. (MIDEAST-CRISIS/IRAQ-FALLUJA (UPDATE 2), expect by 1530 GMT/10,30 AM ET, by Stephen Kalin, 900 words) Jordan needs international help over refugee crisis-King Abdullah LONDON - King Abdullah says Jordan needs long-term aid from the international community to cope with a huge influx of Syrian refugees, warning that unless it received support the "dam is going to burst". (MIDEAST-CRISIS/JORDAN, moved, 320 words) WORLD Proposal unveiled to keep Britain in EU, sceptics unmoved LONDON/BRUSSELS - European Council President Donald Tusk presents proposals for keeping Britain in the European Union to a mixed response, underlining the challenges Prime Minister David Cameron faces to win over his people and other EU leaders. (BRITAIN-EU/ (UPDATE 4, PICTURE), expect by 1530 GMT/10.30 AM ET, by Elizabeth Piper and Jan Strupczewski, 900 words) Socialists ready to lead talks to form government in Spain MADRID - The leader of Spain's Socialists offers to lead talks between parties to form a government in a bid to break political deadlock and avoid a new national election in the next few months. (SPAIN-POLITICS/ (UPDATE 2, PICTURE, TV), expect by 1900 GMT/2 PM ET, by Julien Toyer and Blanca Rodriguez, 500 words) Cuba open for business, ministers tell French executives PARIS - Cuba seeks to drum up foreign investment as ministers on a state visit to Paris promise French business leaders that the Communist-run country is open for business. (CUBA-FRANCE/, moved, 280 words) China's nuclear envoy in North Korea amid sanctions push SEOUL - China's envoy for the North Korean nuclear issue arrives in the capital, Pyongyang, the North's KCNA news agency reports, amid a push by the United States and South Korea for tougher sanctions on the North after its fourth nuclear test. (NORTHKOREA-NUCLEAR/CHINA, moved, 370 words) EU to step up checks on Bitcoin, prepaid cards to fight terrorism BRUSSELS - The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released show. (EU-TERRORISM/FINANCING (PICTURE), moved, by Francesco Guarascio, 464 words) North Norea notifies IMO of planned satellite launch SEOUL - North Korea has notified the International Maritime Organization of plans to launch a satellite between Feb. 8 and Feb. 25, South Korea's Yonhap News Agency reported late on Tuesday. (NORTHKOREA-SATELLITE/ (UPDATE 1), moving shortly, 150 words) Australia PM weighs early poll to break political deadlock SYDNEY - Australian Prime Minister Malcolm Turnbull raises the possibility of dissolving both houses of Parliament and calling an early election to break a political deadlock that has stymied the government, say government officials aware of the matter. (AUSTRALIA-POLITICS/ELECTION, moved, 430 words) India's Supreme Court will review law criminalising gay sex NEW DELHI - India's top court says it will review a decision over whether to uphold a colonial-era law that criminalises gay sex in a victory for homosexual rights campaigners at a time when the nation is navigating a path between tradition and modernity. (INDIA-COURT/ (UPDATE 2, PICTURE, TV), moved, by Aditya Kalra and Andrew MacAskill, 410 words) HEALTH AND SCIENCE Long shifts for young surgeons don't threaten patient safety -- Controversial rules that limit the hours young surgeons can work while in training aren't needed to protect patient safety, a nationwide experiment finds. (HEALTH-SURGERY/RESIDENT-HOURS, moved, 753 words) ENTERTAINMENT AND LIFESTYLE Britain's James Corden to host 2016 Tony Awards NEW YORK - British actor James Corden will host the Tony Awards for theater for the first time at a ceremony in New York in June, organizers announced on Tuesday. (AWARDS-TONYS, moved, 186 words) Baggy but futuristic looks kick off NY men's fashion week NEW YORK - Following a successful debut in July, New York hosts its second menswear fashion week, with dozens of established fashion names as well as new designers showcasing their autumn/winter offerings - from slick suits to more casual wear. (FASHION-NEWYORK/MEN (TV), expect by noon, 238 words) CONSUMER TECH Spin-off or sale? Yahoo turnaround plan in focus as earnings awaited SAN FRANCISCO - Yahoo Inc's plans to turn around its struggling core business are set to dominate its earnings report after the bell on Tuesday, with investors keen to see if CEO Marissa Mayer will push ahead with a proposed spin-off or entertain calls for a complete sale. (YAHOO-RESULTS/PREVIEW, moved at 7 a.m., 355 words) Lower costs nudge Nintendo's profit higher TOKYO - Japan's Nintendo reported a 5.3 percent increase in third-quarter operating profit, in line with analysts forecasts, as lower costs helped offset a decline in overall sales. (NINTENDO-RESULTS/, moved at 2:30 a.m., 134 words) BUSINESS TRENDS Fearing lean times, U.S. companies tighten purse strings NEW YORK - The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. (USA-RESULTS/CAPEX (ANALYSIS), moved, 600 words) A new global oil deal could draw lessons from 1998 LONDON - After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. (OPEC-RUSSIA/DEAL (ANALYSIS, PIX), moved, 1,345 words) See also: GLOBAL-OIL/ (UPDATE 6), moved, 365 words BUSINESS AND MARKETS ChemChina close to striking deal for Syngenta -sources China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for $42.2 billion, two people familiar with the matter say, two people familiar with the matter say. (SYNGENTA AG-M&A/CHEMCHINA (UPDATE 3), moved, Arno Schuetze and Pamela Barbaglia, 350 words) Exxon's profit tumbles 58 percent, slashes capex by one-quarter Exxon Mobil Corp reports its smallest quarterly profit in more than a decade and says it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices. (EXXON MOBIL-RESULTS/ (UPDATE 2), moved, by Anna Driver, 340 words) GM January U.S. sales up slightly, Ford's down DETROIT - U.S. auto sales appeared to fare better than expected in January, early returns show, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. (USA-AUTOS/ (UPDATE 2), moved, Bernie Woodall, 410 words) Dow Chemical CEO Liveris to step down by mid-2017 Dow Chemical Co Chief Executive Andrew Liveris said he will retire from the company by mid-2017, months after activist investor Daniel Loeb called upon him to step down from the company, which is merging with rival DuPont. (DOW-RESULTS/ (UPDATE 4), moving shortly, by Amrutha Gayathri and Swetha Gopinath, 400 words) Stocks snap winning streak as oil pressure returns LONDON - World stocks end three days of gains as lackluster global economic data lead to another slump in oil prices. (GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day, 600 words). See also: USA-STOCKS/ (UPDATE 3), updated throughout the day, 460 words) Oil slides more than 5 percent as hopes for output cut fade LONDON - Brent oil falls more than 5 percent, while U.S. crude slides below $30 per barrel, on worries about future demand and rising supply, while hopes for a deal between OPEC and Russia on output cuts fade. (GLOBAL-OIL/ (UPDATE 9), updated throughout the day, 460 words) Low metals prices sink zinc producer Horsehead Holding Corp WILMINGTON, Del. - U.S. zinc miner Horsehead Holding Corp files for bankruptcy protection, becoming the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. (HORSEHEAD HLDG-BANKRUPTCY/, moved, by Tom Hals, 320 words) Argentina says reaches provisional debt deal with Italian creditors BUENOS AIRES - Argentina has reached a preliminary deal with a group of Italian creditors who hold 30 percent of unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay says. (ARGENTINA-DEBT/ (UPDATE 1), moving shortly, 300 words) Brazil industrial output plunges 8 percent in 2015 BRASILIA - Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty. (BRAZIL ECONOMY/INDUSTRY (UPDATE 1), moved, by Silvio Cascione, 300 words) German jobless rate falls to lowest on record BERLIN - German unemployment fell more sharply than expected in January and the jobless rate dropped to a record low, suggesting private consumption will help offset a slowdown in emerging markets to keep growth in Europe's largest economy steady. (GERMANY-ECONOMY/UNEMPLOYMENT (UPDATE 1), moved, 290 words) Alphabet overtakes Apple in market value - for now Alphabet Inc might win the market cap battle against Apple Inc, but will it win the war? Maybe not. (APPLE-ALPHABET/RESEARCH (UPDATE 1), moved, by Sayantani Ghosh and Supantha Mukherjee, 510 words) Pfizer 2016 forecasts disappoint; shares fall U.S. drugmaker Pfizer Inc forecasts 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. (PFIZER-RESULTS/ (UPDATE 3), moved, 350 words) UPS fourth-quarter profit surges, gives robust outlook CHICAGO - United Parcel Service Inc reports a significantly higher quarterly net profit on a solid holiday season performance and gives a solid earnings outlook for 2016 despite warning of uncertain economic conditions. (UPS-RESULTS/ (UPDATE 1), moved, 330 words) ***************** For story queries, please contact us.general- news@thomsonreuters.com For photo queries use USCanada-Pictures-Editors@thomsonreuters.com) ***************** || Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn REUTERS - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumours and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || Bank of America is going big on blockchain: Bank of America (NYSE: BAC) is trying to steal a march on the latest developments in the technology behind digital currency bitcoin (: BTC=) by loading up on blockchain-related patents. Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with. Major financial institutions -- including the Bank of England -- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency. But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday. "Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week. "And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be." In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher. Story continues Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted. The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currently developing a framework for applying blockchain technology to markets. Last year, Goldman Sachs released a note that said blockchain could "change everything" while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts. More From CNBC Top News and Analysis Latest News Video Personal Finance
[Random Sample of Social Media Buzz (last 60 days)]
Pokemon Is 20 Years Old! Here's How To Feed Your Pikachu Nostalgia. http://lin.io/Dd9p #money #dogecoin #bitcoin #news, #love, #photo… || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.07 and $446.03 #bitcoin #btc || Liquid Bitcoin || One Bitcoin now worth $432.84@bitstamp. High $435.00. Low $422.29. Market Cap $ 6.606 Billion #bitcoin pic.twitter.com/sQlkPOK3Cs || Liquid Bitcoin || Liquid Bitcoin || MOVED: Worldsatoshi - Every 60 Minutes 1500 Satoshi: This topic has been… http://goo.gl/fb/OdX19w #bitcoin #btcb0t || Новый Биткоин кран Bitcoin shokhibul arifin 150-500000 satoshi BITCOIN FAUCET 2016: http://youtu.be/FYy9bcueERc?a на || btctalkradio : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt || Liquid Bitcoin
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Trend: no change || Prices: 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-05-23]
BTC Price: 29098.91, BTC RSI: 36.92
Gold Price: 1847.80, Gold RSI: 44.31
Oil Price: 110.29, Oil RSI: 54.33
[Random Sample of News (last 60 days)]
The Outlook of SoFi Stock Has Gotten Even Worse: With SoFi (NASDAQ: SOFI ) likely to continue to be hurt by the Biden administration’s policies on student loans and the company still facing many other tough challenges, I am still recommending that investors sell SOFI stock. As Seeking Alpha columnist Business Quant explained in a recent column on SOFI stock, the moratoriums on student loan payments have hurt SoFi because they “leave little incentive for students to refinance their loans with SoFi.” Indeed, the company recently, significantly lowered its 2022 guidance due to the extension of the moratorium by the Biden administration through August. The company also believes that the moratorium will be extended until the end of this year . I think that assumption will be correct because, politically, President Joe Biden’s Democrats are trailing badly in the polls and need all the help that they can get in the November Congressional elections. InvestorPlace - Stock Market News, Stock Advice & Trading Tips For the same reason, I believe that the administration will probably forgive much more of each students’ debt than the $10,000 that some expect and that SoFi CEO Anthony Noto has advocated. According to Business Quant , “loan forgiveness … would reduce the student loan amounts due for repayments which would further exacerbate the problem for SoFi.” Therefore, if significantly more than $10,000 are forgiven for each borrower, as is likely to occur, SOFI stock will probably take a big hit. SoFi’s Old Problems Haven’t Been Solved or Eased In previous columns, I’ve explained in detail why SoFi lacks meaningful competitive advantages over other apps that also offer multiple types of financial services. That certainly hasn’t changed, as the company’s net loss in Q4 of 2021 came in at $111 million, up from $82 million during the same period a year earlier . Additionally, the company reported a robust stock-based compensation total of $97 million in Q4. As I’ve pointed out previously, high stock-based compensation tends to put down ward pressure on equities. Story continues 7 Defensive Dividend Healthcare Stocks to Buy Now Finally, on the valuation front, despite its sharp plunge in recent months, SOFI stock is now trading at a trailing price-sales ratio of 5.7x. That’s still a high valuation for a company that does not have any strong competitive advantages, faces a great deal of competition from other financial services companies and is generating high losses. Given the current political realities, SoFi could very well take a big hit from a much higher-than-expected student loan forgiveness total. Meanwhile, the company remains deeply unprofitable at a time when most investors want to buy the shares of companies that are profitable or close to entering the black. And SoFi also continues to trade at a high valuation. As a result of all of these points, I continue to recommend that investors unload SOFI stock. On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post The Outlook of SoFi Stock Has Gotten Even Worse appeared first on InvestorPlace . || Solar-Powered Bitcoin? Tesla, Block and Blockstream Join Forces To Mine Crypto in Texas: agnormark / Getty Images/iStockphoto Blockstream announced it has partnered with Jack Dorseys Block (formerly Square) and Elon Musks Tesla to build an open-source, solar-powered Bitcoin mining facility in Texas. See: The Best and Worst Things To Buy Generic Find: What Is the Next Big Cryptocurrency To Explode in 2022? Were excited to share our collaborative effort with @Blocks to build a fully solar-powered #BitcoinMining facility has begun. @Tesla photovoltaics & Megapack will power the 30 PH/s facility, aiming to show the world 100% zero-emission #Bitcoin mining at scale is viable, Blockstream tweeted April 8. Blockstream said that construction has begun, and that 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. The company added, Ultimately, we hope to demonstrate how bitcoin mining in conjunction with renewable energy can help drive the clean energy transition. We're excited to share our collaborative effort with @Tesla photovoltaics & Megapack will power the 30 PH/s facility, aiming to show the world 100% zero-emission #Bitcoin mining at scale is viable. ???? pic.twitter.com/C1YVyn5ktS Blockstream (@Blockstream) April 8, 2022 Blockstream is providing the mining infrastructure and expertise to build and oversee the project, with the goal of the Bitcoin mining facility to be completed later this year, it said in an announcement. In June, Block (then Square) had already announced it would invest $5 million in Blockstream , as GOBankingRates previously reported. Story continues The company said it would provide regular reports on the economics of the project, and a publicly accessible dashboard will display accurate real-time metrics of the facilitys performance, such as power output and bitcoin mined for analysts and enthusiasts to monitor. A later version of the dashboard will also include solar, storage performance data points, and uptime metrics, it added. The dashboard aims to be available 24/7 from any browser, providing the industry with a real-world, real-time case study of a zero-emission energy Bitcoin mine. Through our Blockstream Mining partnerships, were making tremendous strides in showing that Bitcoin mining can fund zero-emission power infrastructure, the company added. Explore: 6 Alternative Investments to Consider for 2022 Blockstream said a key goal is to strengthen the bitcoin network by diversifying the cryptocurrencys energy sources, according to CNBC. By collaborating on this full-stack, 100% solar-powered bitcoin mining project with Blockstream, using solar and storage technology from Tesla, we aim to further accelerate bitcoins synergy with renewables, Neil Jorgensen, global ESG lead at Block and project lead for Blocks Bitcoin Clean Energy Initiative said. More From GOBankingRates 20 Best Places To Live on Only a Social Security Check 7 Things Every Woman Should Know About Social Security 4 Easy Ways To Avoid Wasting Money During Retirement 10 Ways To Build Wealth Fast This article originally appeared on GOBankingRates.com : Solar-Powered Bitcoin? Tesla, Block and Blockstream Join Forces To Mine Crypto in Texas || Agreement With Tilray Isn’t Necessarily a Boon for Hexo: Hexo ( HEXO ) stock might seem appealing due to an arrangement made with a well-known cannabis company. Yet, a closer look reveals that the agreement might not be of much help to Hexo. Investors should consider staying on the sidelines due to Hexo’s unfortunate financial situation. Hexo (HEXO) logo with marijuana plants in the foreground Source: Shutterstock Hexo (NASDAQ: HEXO ) is a cannabis producer that may spur excitement among folks who like to trade low-priced pot stocks. However, HEXO stock is the wrong asset to invest your hard-earned capital into now. From a technical standpoint, it’s awfully difficult to build a convincing case to hold shares of Hexo. The stockholders have been burned before, and you don’t need to become another victim. From a fundamentals-focused angle, it’s also hard to hold HEXO stock with confidence. As we’ll discover, the company appears to have more capital flowing out than in. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There’s also a headline-grabbing financial arrangement to consider. Be careful when trading based on headlines, though — and as an informed investor, always read the fine print before jumping into a tricky situation. HEXO Hexo $0.50 What’s Happening With HEXO Stock? When a double-digit stock falls below $1, that’s typically bad news from a technical standpoint, as well as psychologically. If the stock goes below 50 cents, that’s even worse. 7 High-Quality Dividend Stocks With High Yields Since it topped out in 2019, HEXO stock has become a penny stock , which can informally be defined as a stock that represents a small company and trades for less than $5 per share . This is a textbook example of what can happen if you buy during a hype phase. The descent can be just as steep as the ascent. Not long ago, HEXO stock traded well above 50 cents per share. There was a rally above $5 last year, but that fizzled out. Sure, it might be tempting to embark on a hero’s mission in the name of “buy low, sell high” investing. Just bear in mind, though, that a low stock price isn’t the same as a good value. Story continues Also, we must address the elephant in the room: Hexo’s much-touted arrangement with fellow cannabis producer Tilray (NASDAQ: TLRY ). Tilray Chairman and CEO called the transaction a “win-win.” However, whether Hexo’s stakeholders are actually the winners here, is debatable. Big Debt Load According to the agreement, Tilray is buying up to $211 million of Hexo’s senior secured convertible notes. In other words, Tilray intends to acquire a large amount of Hexo’s debt. This transaction won’t make Hexo’s debt go away — not at all. Reportedly, the arrangement will provides Tilray with roughly 20 million CAD in interest payments in just the first year. That sounds great for Tilray, but not so wonderful for Hexo. A sizable debt burden with interest payments isn’t going to help Hexo at all. This isn’t a company that’s in a good financial position to pay off its debt load. Consider that in the three months that ended Jan. 31, 2021, Hexo posted a net earnings loss of 20.839 million CAD. Even back then, the company’s revenue clearly couldn’t cover the capital outflows. Moreover, the fiscal picture gets even worse from there. For the three months ended Jan. 31, 2022, Hexo’s net earnings loss ballooned to an eye-watering 710.886 billion CAD. Year-over-year, the company reported spending increases in the categories of selling, general and administrative, as well as marketing and promotion. What You Can Do Now Some traders might have hastily purchased HEXO stock simply because they saw a headline about a financial tie-up with Tilray. They may come to regret that decision, unfortunately. Not all partnerships are guaranteed to confer benefits to all parties. It’s easy to see how Tilray stands to gain as the company will collect debt interest payments from Hexo. As for Hexo, an agreement with Tilray isn’t a quick fix for the bottom-line financial concerns. Taking the full financial picture into view, cannabis-market investors can choose to be cautious and just stay on the sidelines. I give HEXO stock an “F” in my Portfolio Grader . On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, 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. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post Agreement With Tilray Isn’t Necessarily a Boon for Hexo appeared first on InvestorPlace . || Schwab Brings Direct Indexing To Average Investors: Charles Schwab will be launching its own direct indexing solution, one ofif not thefirst designed for a broader audience beyond high net worth individuals and institutions. The Schwab Personalized Indexing business should be operational by the end of April, and will be aimed at financial advisors and retail investors, the firm said in a press release. As part of being designed for a broader audience, the account minimum for the services is $100,000, with the press release noting that most direct indexing offerings require at least $250,000. The pricing starts at 0.40%, which is significantly higher than the 0.03% charged by the broad-market Vanguard Total Stock Market ETF (VTI) . However, VTI is about as plain vanilla as an investor can get and, of course, comes with no tax management or customization capabilities on its own. Forty basis points is a midrange cost for an ETF, and while expensive for a plain vanilla fund, perfectly reasonable for a smart beta strategy or even a thematic fund. [Thanks] to technology innovations and industry developments like Schwabs introduction of online commission-free trading, were able to lower the barriers to direct indexing for more investors and the advisors who serve them, said Charles Schwab Corp. President Rick Wurster. Direct indexing has drawn attention due to its customization capabilities and the potential tax management benefits it can offer. And as technology has improved, it has been possible to offer it at lower and lower price points. Personalized indexing will increasingly define what investors want. Our research shows one-third of our clients are interested in direct indexing, said Schwab Product Management Director Divya Krishnan. With a direct indexing portfolio, the client owns the individual securities in their personalized index rather than a mutual fund or ETF. The Schwab model takes advantage of the firms commission-free online trading and its in-house optimization process that incorporates daily monitoring and tax-loss harvesting technology under the direction of a team of investment professionals. The customized strategies will be delivered to clients via separately managed accounts, according to the press release. Story continues The process used by Schwab Personalized Indexing will optimize a clients portfolio by considering such factors as their current holdings and unrealized tax profile, as well as taxes, risks and tracking error. Clients can choose from three base indexes that can be customized to their needs: the Schwab 1000 Index, which is very similar to the Russell 1000 Index; the S&P SmallCap 600 Index; and the MSCI KLD 400 Social Index, one of the original ESG benchmarks, the press release says. The firm says it will add additional features and strategies during the next 12-18 months. Contact Heather Bell at heather.bell@etf.com Recommended Stories Hot Reads: Australia Gets Bitcoin ETF State Street Climate ETF Gets Makeover Hot Reads: Consumer Staples ETFs Reach Highs ETFs Lose $11B In Short Week Permalink | © Copyright 2022 ETF.com. All rights reserved || The Worldwide Crypto ATM Industry is Expected to Reach $370.5 Million by 2027: Company Logo Global Crypto ATM Market Global Crypto ATM Market Dublin, April 21, 2022 (GLOBE NEWSWIRE) -- The "Global Crypto ATM Market (2022-2027) by Type, Offering, Geography, Competitive Analysis, and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Crypto ATM Market is estimated to be USD 36.45 Mn in 2022 and is expected to reach USD 370.53 Mn by 2027, growing at a CAGR of 59.01%. Market Dynamics Market dynamics are forces that impact the prices and behaviors of the Global Crypto ATM Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals. As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks. Market Segmentation The Global Crypto ATM Market is segmented based on Type, Offering, and Geography. By Type, the market is classified into One Way, and Two Way. By Offering, the market is classified into Hardware, and Software. By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific. Company Profiles The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Bcash Greece Inc, BTCPoint, Cash Cloud, Inc, General Bytes, Genesis Coin Inc., Orderbob, Tembusu, etc. Countries Studied America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas) Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe) Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA) Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific) Story continues Competitive Quadrant The report includes a Competitive Quadrant a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Ansoff Analysis The report presents a detailed Ansoff matrix analysis for the Global Crypto ATM Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach. The analyst analyses the Global Crypto ATM Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position. Based on the SWOT analysis conducted on the industry and industry players, this Global Research has devised suitable strategies for market growth. Why buy this report? The report offers a comprehensive evaluation of the Global Crypto ATM Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies. The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry. The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report. The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies. The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool. Key Topics Covered: 1 Report Description 2 Research Methodology 3 Executive Summary 4 Market Dynamics 4.1 Drivers 4.1.1 Growing Fund Transfers in Developing Countries 4.1.2 Fluctuating Monetary Regulations 4.1.3 Increasing Installations of Crypto ATMs in Restaurants, Bars, General Stores, and Gas Stations 4.2 Restraints 4.2.1 Uncertain Regulatory Status of Cryptocurrencies 4.2.2 Lack of Awareness and Technical Understanding Regarding Cryptocurrency 4.3 Opportunities 4.3.1 Significant Growth Opportunities in Developed Markets 4.3.2 Acceptance of Cryptocurrency Across Industries 4.4 Challenges 4.4.1 Concern Regarding Security and Privacy 4.4.2 Technical Challenges Pertaining to Scalability 5 Market Analysis 5.1 Regulatory Scenario 5.2 Porter's Five Forces Analysis 5.3 Impact of COVID-19 5.4 Ansoff Matrix Analysis 6 Global Crypto ATM Market, By Type 6.1 Introduction 6.2 One Way 6.3 Two Way 7 Global Crypto ATM Market, By Offering 7.1 Introduction 7.2 Hardware 7.2.1 Display 7.2.2 ATM Printer 7.2.3 QR Scanner 7.2.4 Others 7.3 Software 8 Americas' Crypto ATM Market 8.1 Introduction 8.2 Argentina 8.3 Brazil 8.4 Canada 8.5 Chile 8.6 Colombia 8.7 Mexico 8.8 Peru 8.9 United States 8.10 Rest of Americas 9 Europe's Crypto ATM Market 9.1 Introduction 9.2 Austria 9.3 Belgium 9.4 Denmark 9.5 Finland 9.6 France 9.7 Germany 9.8 Italy 9.9 Netherlands 9.10 Norway 9.11 Poland 9.12 Russia 9.13 Spain 9.14 Sweden 9.15 Switzerland 9.16 United Kingdom 9.17 Rest of Europe 10 Middle East and Africa's Crypto ATM Market 10.1 Introduction 10.2 Egypt 10.3 Israel 10.4 Qatar 10.5 Saudi Arabia 10.6 South Africa 10.7 United Arab Emirates 10.8 Rest of MEA 11 APAC's Crypto ATM Market 11.1 Introduction 11.2 Australia 11.3 Bangladesh 11.4 China 11.5 India 11.6 Indonesia 11.7 Japan 11.8 Malaysia 11.9 Philippines 11.10 Singapore 11.11 South Korea 11.12 Sri Lanka 11.13 Thailand 11.14 Taiwan 11.15 Rest of Asia-Pacific 12 Competitive Landscape 12.1 Competitive Quadrant 12.2 Market Share Analysis 12.3 Strategic Initiatives 12.3.1 M&A and Investments 12.3.2 Partnerships and Collaborations 12.3.3 Product Developments and Improvements 13 Company Profiles 13.1 Bcash Greece Inc 13.2 Bitaccess, Inc 13.3 Bitcoin Depot 13.4 Bitstop 13.5 Bitxatm 13.6 BTCPoint 13.7 Cash Cloud, Inc 13.8 Coin ATM Radar 13.9 Coinme Inc. 13.10 Coinsource 13.11 Covault, LLC 13.12 General Bytes 13.13 Genesis Coin Inc. 13.14 GPD Holdings, LLC 13.15 KUNA (Cryptomat) 13.16 Kurant GmbH 13.17 Lamassu Industries AG 13.18 Orderbob 13.19 RockitCoin 13.20 Rusbit 13.21 Tembusu 14 Appendix For more information about this report visit https://www.researchandmarkets.com/r/uxdoq8 Attachment Global Crypto ATM Market CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 || Designed by Gianni Versace, This $70 Million NYC Townhouse Was Restored to Its ‘La Dolce Vita’ Glory: New York City ’s townhouses are synonymous with luxury living, but a $70 million pad formerly owned and designed by the late, great Gianni Versace takes “la dolce vita” to extraordinary new heights. Located on East 64th Street, the six-story Manhattan mansion spans 14,175 square feet, with some 17 rooms spread throughout its haute interiors. Seven plush bedrooms, seven full baths and three partial baths account for more than half of the Italian Baroque-style abode, while the rest is dedicated to grand living and dining room spaces, a library, gym, game lounge, media room and office. Outside, meanwhile, there’s a stunning trellised garden spanning 3,025 square feet and a rooftop gazebo overlooking Fifth and Madison Avenues. More from Robb Report How a Beloved Canadian Fishing Lodge Transformed Into a Luxury Wilderness Retreat Lewis Hamilton Wore 3 Watches, Including IWC's Latest, in Protest of Formula 1's Jewelry Ban From Bitcoin to Dogecoin: Gucci Will Soon Accept Cryptocurrency at US Stores The limestone façade with Versace-style doors. - Credit: Eitan Gamliely Eitan Gamliely The neoclassical townhouse was built in 1950 and bought by the famed Italian designer for $7.5 million in 1995. As to be expected, the fashion icon fully redesigned the residence, adding plenty of his signature glitz and glamor. Custom touches include classical columns, intricate mosaics, marble floors and painted ceilings, to name but a few. The Great Room even features restored 19th-century panels on the roof that were sourced by Versace from a Florentine palazzo and depict an epic Elysian scene. Think of it as the Upper East Side’s Sistine Chapel. The grand primary suite - Credit: Travis Mark Travis Mark The manse is being sold by billionaire Swedish hedge funder Thomas Sandell and his wife Ximena. The couple bought the property directly from the Versace family for $30 million in 2005, according to records, before meticulously restoring it to its former glory. Nikki Field of Sotheby’s International Realty, who is co-listing the property with her daughter Amanda Field Jordan , told The Wall Street Journal that the Sandells are “Versace devotees” and that “this piece of art” will likely be snapped up by “someone who has that same reverence.” The luxe bathroom with double sinks, a black marble countertop and Italian-baroque details. - Credit: Travis Mark Travis Mark This isn’t the first time the townhouse has landed on the market, though. At one point, it was available as a rental with an asking price of $100,000 a month, according to WSJ . So, if you should ever tire of la dolce vita, you could always let Versace’s wonderland for a bit of extra dosh. Sounds like a win-win to us. Check out more photos of the property below: NYC Townhouse by Gianni Versace Living Room Side NYC Townhouse by Gianni Versace Stairs NYC Townhouse by Gianni Versace Dining NYC Townhouse by Gianni Versace Patio NYC Townhouse by Gianni Versace Living Room NYC Townhouse by Gianni Versace Bedroom NYC Townhouse by Gianni Versace Game Room NYC Townhouse by Gianni Versace Closet NYC Townhouse by Gianni Versace Gym NYC Townhouse by Gianni Versace Kitchen NYC Townhouse by Gianni Versace Hallway NYC Townhouse Exterior by Gianni Versace Best of Robb Report The 25 Most Expensive Homes in the World for Sale The 10 Priciest Neighborhoods in America (And How They Got to Be That Way) In Pictures: Most Expensive Properties Story continues Sign up for Robb Report's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article. View comments || FOREX-Yen takes a breather as Bank of Japan swings into bond market: By Tom Westbrook SINGAPORE, March 29 (Reuters) - The yen fought to regain a footing on Tuesday, recovering a little from heavy selling as some traders start to see risks of official pushback if Japan's currency falls much further. The yen has been hammered some 7% lower through March as the Bank of Japan (BoJ) has stuck with dovish policy settings - this week buying bonds to defend its yield target - while central banks in the rest of the world are hiking rates. On Monday it dropped as far as 125.10 versus the dollar, round about where authorities have made verbal pushback in the past. On Tuesday it rose about 0.5% in Asia trade to sit at 123.32 to the dollar. The greenback was broadly steady, meanwhile, keeping the euro at $1.0996 and capping a recent rally in the Australian dollar to hold it just below $0.75. Japan's central bank bought a little more than $500 million in bonds on Monday and another $2 billion on Tuesday morning, having vowed to make unlimited purchases in the market until Thursday to defend its 10-year yield target of 0.25%. The move, a demonstration of resolve to keep Japan's monetary policy ultra easy, underlines the stark contrast with an ever-more-hawkish sounding U.S. Federal Reserve and has tipped the already-sliding yen off a cliff. But with Japanese government bonds (JGBs) barely rallying, and indeed five-year bonds selling further, it is clear that some investors doubt the longevity of Japan's policy. "Anyone who watched the RBA 'cap' blow is probably excitedly (and logically) short (on) JGBs right now hoping for a similar move in Japan rates," said Brent Donnelly, president at analytics firm Spectra Markets, referring to the Reserve Bank of Australia's (RBA) abandonment of its yield target in November. Minutes from the Bank of Japan's March meeting published on Tuesday showed policymakers stressing the need to keep monetary policy ultra-loose, even as some of them saw signs of growing inflationary pressure. Yet economists see pressure for a shift if persistent yen weakness exacerbates inflation by raising import costs, particularly for energy, and reckon that 125 is a key level. "Japanese yen depreciation is a big problem for the Japanese economy, because the economy - especially households - is facing rising inflation and yen depreciation could accelerate that," said Kentaro Koyama, chief economist at Deutsche Bank in Tokyo. "If the dollar/yen rate exceeded 125 I'd expect some more severe verbal intervention," he said, coming either from politicians or even the central bank. Japanese Finance Minister Shunichi Suzuki said on Tuesday that Japan will carefully watch foreign exchange market movement to avoid "bad yen weakening". The country's top currency diplomat Masato Kanda said that excess foreign exchange volatility was undesirable. Among other majors the New Zealand dollar was a fraction weaker at $0.6889 and sterling was under pressure at $1.3093. Bitcoin hovered at $47,600, just below its 200-day moving average and the almost three-month high of $48.234 that it reached a day ago. European consumer confidence data and U.S. job openings figures are due later in the day. ======================================================== Currency bid prices at 0511 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.0985 $1.0988 +0.00% -3.36% +1.0998 +1.0969 Dollar/Yen 123.4350 123.8650 -0.40% +0.00% +124.3000 +123.1500 Euro/Yen Dollar/Swiss 0.9339 0.9345 -0.05% +0.00% +0.9356 +0.9330 Sterling/Dollar 1.3095 1.3095 -0.01% -3.18% +1.3106 +1.3080 Dollar/Canadian 1.2514 1.2517 +0.02% -0.98% +1.2530 +1.2514 Aussie/Dollar 0.7485 0.7492 -0.09% +2.97% +0.7507 +0.7475 NZ 0.6896 0.6897 +0.07% +0.00% +0.6908 +0.6889 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Tom Westbrook; Editing by Shri Navaratnam and Kenneth Maxwell) || FOREX-Dollar nears pandemic peaks as investors seek safety: * Euro touches five-year trough * Aussie gets small boost as CPI stokes hike bets * U.S. GDP data eyed on Thursday ahead of May Fed meeting By Tom Westbrook SINGAPORE, April 27 (Reuters) - The dollar stood at its highest level since the early days of the pandemic on Wednesday and was heading for its best month since 2015, supported by the prospect of U.S. rate hikes and on safe-haven flows fanned by slowing growth in China and Europe. Fears for Europe's energy security pushed the euro to a five-year low of $1.0635 after Russia's Gazprom said it would cut gas supply to Poland and Bulgaria. The U.S. dollar index, which measures the greenback against a basket of six major currencies, edged up to 102.39 in the Asia session, the strongest it has been since March 2020. "The dollar is the hedge in markets presently, while commodities including gold are no longer working as effectively," said analysts at Citi. "The dollar is 'quality carry,'" they added. "The dollar also offers more yield than any of the other safe haven FX alternatives." The dollar index is up 4% this month and the euro, yuan and yen have slid as traders wager that rates are going up faster in the United States than any other major economy. "Even if the Fed stops tightening in June 2022, the U.S. is expected to have higher rates than (Europe) through the whole of 2023," said Deutsche Bank strategist Alan Ruskin. The heft of that as a driver of currency movements has only increased as uncertainty swirls around the war in Ukraine - now in its third month - as well as the global consequences of China's persistence with disruptive COVID-zero policies. The Chinese yuan took a breather following a steep decline that appears to have had the blessing of authorities, steadying at 6.5575 per dollar. Data also showed Chinese industrial profit growth quickened in March. AUSSIE BOUNCE U.S. earnings are likely to set the tone across financial markets later in the day, ahead of U.S. growth data due on Thursday where a solid showing could reinforce bets on rates moving sharply higher at the Federal Reserve's May meeting. Story continues Commodity currencies have also sold lately in favour of the safety of the greenback, driving the New Zealand dollar close to its lowest levels of this year at $0.6562. The Australian dollar caught a modest boost after Australian consumer prices surged at their fastest annual pace in two decades, spurring speculation that interest rates could be lifted from record lows as soon as next week. The Aussie rose as much as 0.6% to $0.7171. "With trimmed mean inflation already higher than at the start of previous tightening cycles, the Reserve Bank of Australia may opt for a 50 bp hike at its June meeting," said Marcel Thieliant at Capital Economics. Elsewhere the stronger dollar dented an attempted bounce for the yen, which had seen some support from safety flows and positioning for the risk of a policy shift. The yen last traded about 0.3% lower at 127.60 per dollar. The Bank of Japan meets on Wednesday and Thursday and markets see some risk of adjustment to forecasts or even policy changes to try and arrest the currency's recent weakness. The South Korean won was slammed to a two-year trough after North Korea pledged to boost its nuclear arsenal. Sterling, which has dropped more than 2% on the dollar this week as soft retail sales data has prompted a re-think of Britain's rates outlook, hit a fresh 21-month low of $1.2560 on Wednesday. Bitcoin, sold on Tuesday as investors dumped risky assets, hovered near a six-week low at $38,430. (Reporting by Tom Westbrook; Editing by Shri Navaratnam) || Nickel Is About to Take a Back Seat at QuantumScape HQ: There is no questionQuantumScape’s(NYSE:QS) news at the end of April that its 16-layer solid-state cell was capable of500 charge cycleswas good to hear if you’ve owned QS stock for any length of time.
However, another piece of news might have far more significance for shareholders as the company moves closer to commercializing its electric battery cells. In 2022, QuantumScape is expected to spend between$325 million and $375 million on its Phase 1 and Phase 2engineering lines and its QS-0 pre-pilot production line.
Two metals used in producing these electric batteries are nickel and lithium. They’re up 80% and 414%, respectively, over the past year. However, iron ore prices are down24%in the same period, and they’re much cheaper by the ton.
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So, nickel could take a back seat to iron.
QS Stock and Iron-Based Batteries
According to CEO Jagdeep Singh, QuantumScape could useiron-based cathodes— instead of nickel-based — with its lithium-metal anodes, delivering superior energy efficiency.
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“‘[W]e’re cathode-agnostic with our architecture, so we can switch from nickel to iron,’Bloomberg Quintreported Singh said. ‘When you couple iron-based cathodes with our lithium-metal anode, you get a 50% increase’ in energy density, he added, so that makes them a ‘viable alternative’ to nickel.”
The latest price for nickel is $31,722 per ton, while a ton of iron ore is $142. Now, you don’t have to be a rocket scientist to understand that if the battery could be more energy efficient while cheaper to produce, that’s a win/win solution for QuantumScape.
According to October 2021 reporting byBloomberg,CSB Energy, a clean-energy firmbased in Taiwanwith U.S. operations in Texas, manufactures iron-flow batteries for energy storage. Made of iron, salt, and water, they cost$200 per kilowatt-hour(kWh) compared to $350 kWh for lithium-ion batteries, and they’re likely to get even cheaper.
Of course, these batteries are too large for automobiles, but it demonstrates that what Singh is suggesting isn’t a pie-in-the-sky theory. Iron-based batteries actually work and, in the case of energy storage, do a better job.
So, if you’re like me and concerned about QuantumScape’s rising costs, this latest revelation means cheaper solid-state batteries could be on the way sooner than you think.
That’s excellent news if you own QS stock.
On the date of publication, Will Ashworthdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
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The postNickel Is About to Take a Back Seat at QuantumScape HQappeared first onInvestorPlace. || Central African Republic just approved Bitcoin as an official currency. El Salvador’s experience shows it may be a bumpy ride: The Central African Republic has become the second country in the world to approve Bitcoin as an official currency, following El Salvador’s bumpy rollout of the cryptocurrency last year. Spokespeople for the country’s government confirmed that the move had been taken, the BBC , Reuters and Bloomberg reported on Thursday. A spokesperson for Central African Republic President Faustin-Archange Touadéra told Reuters on Thursday that adopting Bitcoin would improve conditions for the country’s population. The Central African Republic is one of the poorest countries in the world, despite being rich in both gold and diamonds, and the nation has been troubled by unrest for years, according to the UN. Bitcoin was trading at $39,698 on Wednesday, according to CoinDesk—a far cry from its peak of more than $67,000 in November 2021. Lessons from El Salvador The Central African Republic is following in the footsteps of El Salvador by approving Bitcoin as legal tender. El Salvador was the first country to adopt the cryptocurrency as an official currency when it made the move in September, with the government creating Bitcoin wallets for citizens called Chivo . However, El Salvador’s decision to adopt Bitcoin—which is a notoriously volatile asset—has been dubbed a huge economic risk, with the policy failing to capture support among the country’s population. In January, the International Monetary Fund urged the government of El Salvador to remove Bitcoin’s legal tender status, which the organization said “entails large risks for financial and market integrity, financial stability, and consumer protection.” But El Salvador pushed back against the IMF’s recommendation. Finance Minister Alejandro Zelaya later told a local broadcaster that the use of Bitcoin was a matter of sovereignty, and that “no international organization is going to make us do anything at all,” according to the Associated Press . Despite its official defiance, the rollout in El Salvador has been anything but smooth over the past few months. Story continues Soon after Bitcoin’s adoption, a survey by the El Salvador Chamber of Commerce found that over 80% of people didn’t want remittances in Bitcoin—perhaps because of astronomically high ATM fees on converting Bitcoin to U.S. dollars —and over nine in 10 rejected the idea of taking their salaries in digital coins. In March, El Salvador President Nayib Bukele’s initiative to roll out a “volcano bond” —named for a plan to spend half the bond’s proceeds on a new “Bitcoin city” at the foot of El Salvador’s Conchagua volcano—was met with investor skepticism . This week, a new report from the U.S. National Bureau of Economic Research found that just 20% of adult citizens in El Salvador were using the Chivo Wallet app. It also found that after spending a preloaded $30 bonus, more than 60% of Salvadorans stopped using Chivo. This story was originally featured on Fortune.com
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 29655.59, 29562.36, 29267.22, 28627.57, 28814.90, 29445.96, 31726.39, 31792.31, 29799.08, 30467.49
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-05-01]
BTC Price: 5402.70, BTC RSI: 62.71
Gold Price: 1281.40, Gold RSI: 46.40
Oil Price: 63.60, Oil RSI: 54.28
[Random Sample of News (last 60 days)]
Jack Dorsey says Square open to making bitcoin investments: Square CEO Jack Dorsey caused quite a stir on Twitter Wednesday evening, declaring that "Square is hiring 3-4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem." Dorsey has recently become a hero to many Bitcoin fans due to his participation in the Lightning Network Torch passing and statement that Square will integrate its Cash App with the Lightning Network in the future. Dorsey is an investor in Lightning Labs , a firm that is developing Lightning. In the Twitter Q&A session that followed Dorsey's announcement, he responded to a commenter who asked: "Would you consider investing in projects/companies that support bitcoin core /ux development too?" with a simple "Yes." Screenshot 2019-03-21 07.15.56.png This development will surely have the bitcoin community in a tizzy, as it signifies an even deeper potential commitment from Square, valued at $31.6 billion, to support bitcoin. And since Square's core business is merchant and consumer payments, this provides momentum for the cryptocurrency to move from its current position as a speculative asset and potential store of value towards the payments use case likely to appeal to a broader segment of the population. || ‘Satoshi’s Treasure’ Is a Global Puzzle With a $1 Million Bitcoin Prize: A new alternate reality game calledSatoshi’s Treasurehas hidden the keys to $1 million worth of bitcoin across the globe, forcing players to collaborate and improvise.
“A lot of people have joked we’re doing the bitcoin version ofReady Player One,” Primitive Ventures co-founder Eric Meltzer, the game’s co-creator, told CoinDesk. “The game is going to have a leaderboard to show which teams have the most keys.”
Revealed exclusively to CoinDesk, the keys to this bitcoin wallet were divided into 1,000 fragments, requiring a minimum of 400 key fragments to move the funds. Players can collect and unravel clues any way they want, even selling leads if they choose. Meltzer himself donated a significant portion of the bitcoin loot, with unnamed angel investors capping it off.
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The game itself has no rules.
“Forget about the rules, just go goddamn play,” Meltzer said, adding that so far more than 6,000 people have signed up for the game’s mailing list for key updates.
Meltzer enlisted the help of zcash co-creator Ian Miers and 18 other contributors so that no single person knows the schedule or location of all the clues or keys. The logic puzzles are sprinkled across the internet and sometimes printed and pasted in the real world as well.
“There are some clues that are very scavenger hunt-y, and clues where it’s purely logic puzzles or math problems,” Meltzer said, adding that the end result will numerically yield a key fragment.
The Bigger Picture Behind Bitcoin’s Latest Price Rebound
The first clue, released yesterday, seems to point users in the direction of the Blockstream satellite, which broadcasts data related to bitcoin.
There are plans to eventually launch an app to help players keep track of clues and updates, but it will not be required to play. The app will also be a conduit for sponsorship and partnerships with external brands.
“There is a company, basically so that we can pay people’s salaries,” Meltzer said. “Part of the meta game that I think people are going to like is trying to figure out who is behind this.”
That being said, Meltzer is just a figurehead. There is no single person, not even a member of the tropical island–based company (which island is a secret), who knows how the game will play out.
“When the winning team wins they do so by taking the bitcoin and we have nothing to do with this. We’re not giving the prize,” Meltzer said. “There are so many unknowns in this game that we kind of just want to see what happens.”
One prospective player, 15-year-old German developer Malte Lauterbach, told CoinDesk games likeSatoshi’s Treasureoffer a teen-friendly way for his friends to learn about cryptocurrency.
“Earning bitcoin through games is a pretty cool idea,” Lauterbach said, adding his parents don’t like the idea of him getting involved with speculative trading. “It’s pretty cool having diverse teams with players all over the world.”
Lauterbach isn’t the only teen interested inSatoshi’s Treasureas a way to earn bitcoin without needing to own a bank account.
“A lot of [players] are young, it skews very young so far,” Meltzer said. “I don’t think it will stay that way.”
Lauterbach first heard aboutSatoshi’s Treasurethrough another gaming community he’s a part of. He and two teen friends from India and the U.S. are building an educational game about cryptocurrency markets on the developer tools siteRepl.it,which is offering one bitcoin as the prize for the best money-themed game submission.
Amjad Masad, CEO of the developer tools startup behind Repl.it, told CoinDesk:
“A year ago we started noticing suspicious activity on our platform, and we found that someone built a huge mining infrastructure to mine bitcoin. We looked into it and found it was this 13-year-old kid. … There’s a huge interest in crypto from young developers.”
As for Satoshi’s Treasure, Lauterbach loves the idea of collaborating with people around the world while learning more about bitcoin.
Prize money merely offers an enticing twist.
“Instead of something like World of Warcraft gold, I could use bitcoin to buy real stuff instead,” Lauterbach said.
Buried treasureimage via Shutterstock
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The price of bitcoin has slightly increased in the past 24 hours (Source: Coinmarketcap.com)
Many tokens and crypto assets including Nuls, Wanchain, Ontology, Crypto.com, OmiseGo, and others have increased by 5 to 15 percent against both bitcoin and the U.S. dollar, demonstrating strong momentum.
On Wednesday, a cryptocurrency trader and technical analyst known to the crypto community as “The Crypto Dog” told CCN that despite the unforeseen drop of bitcoin to $3,900, the strength of alternative cryptocurrencies could allow the rest of the market to remain afloat.
Hesaid:
BTC is ‘neccing’ but alternative cryptocurrency ratio pairs are going up… what does this mean? This isn’t ordinary price action. || India ETFs Gain Momentum on Hopes of Support Under Modi: This article was originally published on ETFTrends.com. India country-specific ETFs are gaining momentum, with Indian markets setting a new record on Tuesday, as foreign investors jumped back into this emerging market on hopes that Prime Minister Narendra Modi’s ruling coalition will retain power in the upcoming election. Over the past month, the iShares MSCI India ETF (CBOE:INDA) jumped 9.4% and WisdomTree India Earnings ETF ( EPI ) advanced 11.1%. Meanwhile, the S&P BSE Sensex broke through its previous closing high after showing one of the region's worst performances of 2019. Foreigners are betting that the so-called Modinomics could further help support India's economy after Mod's ruling coalition retains power in elections that start later this month. Analysts pointed to optimism over the upcoming elections, along with projections of strong earnings growth, notably in the financial sector, as major factors in contributing to market gains, the Wall Street Journal reports. According to Goldman Sachs data, foreign institutions bought a net $4.3 billion worth of Indian stocks in March, the biggest monthly total in two years, bringing the yearly total to about $6.6 billion. This year's election is “more about policy continuity,” Sunil Koul, a regional strategist at Goldman Sachs, told the WSJ. Goldman analysts project Indian corporate earnings to expand 16% in 2019, the fastest clip in the region. Nevertheless, the fast pace may be partly attributed to the poor results a year ago for banks that were burdened by nonperforming loans. Koul added that the asset quality at some banks has improved, which made them more palatable to investors. Furthermore, international investors switched back into “growth-oriented strategies,” fueling India's market momentum, Tai Hui, the chief market strategist for Asia at J.P. Morgan Asset Management, told the WSJ. “I think it’s more of a style shift than people jumping the gun on what the election outcome is going to be,” Hui said. Story continues For more information on India’s markets, visit our India category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Latest IOTA price and analysis (MIOTA to USD): Latest IOTA price and commentary IOTA has remained flat in price over the last 24hrs, with a slight increase against Bitcoin of 0.93%. Despite this slow movement, IOTA has seen a 10% increase in price since the beginning of February. Current live IOTA pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the top of every page on our site has the latest IOTA price. Pricing is also available in a range of different currency equivalents: US Dollar – MIOTAtoUSD British Pound Sterling – MIOTAtoGBP Japanese Yen – MIOTAtoJPY Euro – MIOTAtoEUR Australian Dollar – MIOTAtoAUD Russian Rouble – MIOTAtoRUB Bitcoin – MIOTAtoBTC About IOTA The IOTA Foundation was incorporated in Germany as a non-profit corporation. The Foundation is “dedicated to building sustainable ecosystems around IOTA to accelerate its development and commercial adoption as an open source technology”. In November 2017, the Foundation had a US$100 million fund to promote IOTA use. IOTA is one of the largest cryptocurrencies and is one of The Top 10 Cryptocurrencies by market capitalisation. More IOTA news & information If you want to find out more information about IOTA or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started: Latest IOTA price and analysis (MIOTA to USD) By Emma Thompson – March 5, 2019 As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . The post Latest IOTA price and analysis (MIOTA to USD) appeared first on Coin Rivet . || ‘Satoshi’s Treasure’ Is a Global Puzzle With a $1 Million Bitcoin Prize: A new alternate reality game calledSatoshi’s Treasurehas hidden the keys to $1 million worth of bitcoin across the globe, forcing players to collaborate and improvise.
“A lot of people have joked we’re doing the bitcoin version ofReady Player One,” Primitive Ventures co-founder Eric Meltzer, the game’s co-creator, told CoinDesk. “The game is going to have a leaderboard to show which teams have the most keys.”
Revealed exclusively to CoinDesk, the keys to this bitcoin wallet were divided into 1,000 fragments, requiring a minimum of 400 key fragments to move the funds. Players can collect and unravel clues any way they want, even selling leads if they choose. Meltzer himself donated a significant portion of the bitcoin loot, with unnamed angel investors capping it off.
Three Reasons Why Bitcoin Price Rally Has Stalled
The game itself has no rules.
“Forget about the rules, just go goddamn play,” Meltzer said, adding that so far more than 6,000 people have signed up for the game’s mailing list for key updates.
Meltzer enlisted the help of zcash co-creator Ian Miers and 18 other contributors so that no single person knows the schedule or location of all the clues or keys. The logic puzzles are sprinkled across the internet and sometimes printed and pasted in the real world as well.
“There are some clues that are very scavenger hunt-y, and clues where it’s purely logic puzzles or math problems,” Meltzer said, adding that the end result will numerically yield a key fragment.
The Bigger Picture Behind Bitcoin’s Latest Price Rebound
The first clue, released yesterday, seems to point users in the direction of the Blockstream satellite, which broadcasts data related to bitcoin.
There are plans to eventually launch an app to help players keep track of clues and updates, but it will not be required to play. The app will also be a conduit for sponsorship and partnerships with external brands.
“There is a company, basically so that we can pay people’s salaries,” Meltzer said. “Part of the meta game that I think people are going to like is trying to figure out who is behind this.”
That being said, Meltzer is just a figurehead. There is no single person, not even a member of the tropical island–based company (which island is a secret), who knows how the game will play out.
“When the winning team wins they do so by taking the bitcoin and we have nothing to do with this. We’re not giving the prize,” Meltzer said. “There are so many unknowns in this game that we kind of just want to see what happens.”
One prospective player, 15-year-old German developer Malte Lauterbach, told CoinDesk games likeSatoshi’s Treasureoffer a teen-friendly way for his friends to learn about cryptocurrency.
“Earning bitcoin through games is a pretty cool idea,” Lauterbach said, adding his parents don’t like the idea of him getting involved with speculative trading. “It’s pretty cool having diverse teams with players all over the world.”
Lauterbach isn’t the only teen interested inSatoshi’s Treasureas a way to earn bitcoin without needing to own a bank account.
“A lot of [players] are young, it skews very young so far,” Meltzer said. “I don’t think it will stay that way.”
Lauterbach first heard aboutSatoshi’s Treasurethrough another gaming community he’s a part of. He and two teen friends from India and the U.S. are building an educational game about cryptocurrency markets on the developer tools siteRepl.it,which is offering one bitcoin as the prize for the best money-themed game submission.
Amjad Masad, CEO of the developer tools startup behind Repl.it, told CoinDesk:
“A year ago we started noticing suspicious activity on our platform, and we found that someone built a huge mining infrastructure to mine bitcoin. We looked into it and found it was this 13-year-old kid. … There’s a huge interest in crypto from young developers.”
As for Satoshi’s Treasure, Lauterbach loves the idea of collaborating with people around the world while learning more about bitcoin.
Prize money merely offers an enticing twist.
“Instead of something like World of Warcraft gold, I could use bitcoin to buy real stuff instead,” Lauterbach said.
Buried treasureimage via Shutterstock
• The Upside of Bitcoin’s Upside (It’s Not What You Think)
• Bitcoin Defends Psychological Support Line After Price Dip to $4,900 || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 4: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by theHitBTCexchange.
The market tends to cycle between periods of low and high volatility. After a week of small-price-range action, the range expanded on Monday and the crypto markets decided to move southwards. What has caused this sudden fall? There are no specific fundamental reasons that might have led to this selloff.
One of the possibilities might be the strengthening dollar, which has risen in the past four days. Gold alsofellsharply on Friday, as a consequence.
This shows that traders are keen to take on risk. Traders like to keep the assets that are showing a strong uptrend. The United States markets have been on a roll for the past ten weeks. Positive news on thetrade dealbetween the U.S. and China might have encouraged some short-term traders to book profits in cryptocurrencies and shift over to the stock markets.
Although the current fall will dampen sentiment, it does not change the overall structure of most major cryptocurrencies. They remain in a bottoming formation and will continue to be volatile during the period.
After six days of small-range trading, the range has expanded to the downside, which is a negative sign. Bitcoin (BTC) has broken below the 20-day EMA and is currently close to the 50-day SMA. The downtrend line is also located at this level. This line had previously acted as a strong resistance, so it will now act as a strong support.
A breakdown of this critical support can plummet theBTC/USDpair to the next support at $3,355, and if it also fails to hold, the final support on the downside is $3,236.09. A new yearly low will resume the downtrend.
Conversely, if the price finds support at the current levels, it will again try to rally above $3,900 and reach $4,255. A break out of this critical resistance will suggest that a bottom has been put in place. The next few days are critical. Traders can maintain the stop loss on theirlongpositions below $3,236.09.
Ethereum (ETH) has broken down of the 20-day EMA and has declined to the 50-day SMA. The failure to bounce off the 20-day EMA is a negative sign. If the 50-day SMA also fails to stem the fall, the next support on the downside is $116.3. Therefore, traders should keep a stop loss of $125 on the remaininglongpositions.
On the other hand, if theETH/USDpair rebounds from the current levels, it will try to rise above $145 and reach the critical overhead resistance of $167.32. The pair will pick up momentum above this level. Currently, both of the moving averages are flat, and the RSI is just below the 50 levels. This points to range bound trading in the short-term.
Ripple (XRP) has turned down below the moving averages. It has again slipped to the support at $0.2950. This is the fourth time the price has fallen to this level.
Repeated retests of a support level increase the probability of a breakdown. If this support cracks, the next level to watch on the downside is $0.27795. The bulls have held this support twice: once in mid-December of last year and again in end-January of 2019.
Hence, this is a critical level. A breakdown of this could plummet the digital currency to the yearly low of $0.24508.
If the buyers step in at the current levels, theXRP/USDpair can move up to $0.33108. A breakout and close above this level is likely to propel the pair to the resistance line of the descending channel, close to $0.40. The traders should protect theirlongpositions with a stop loss below $0.27795.
EOShas broken below the 20-day EMA and plummeted to the next support of $3.2081. If the bulls fail to defend this level, the drop can extend to the 50-day SMA. The traders can keep their stops at $2.90 on the remaininglongpositions.
A bounce from the current levels will again try to push theEOS/USDpair above the overhead resistance of $3.8723. The 20-day EMA is flattening out, and the RSI has also dipped close to the neutral zone. This shows a balance between demand and supply.
Litecoin (LTC) had risen above $47.2460 on March 2, but the bulls could not sustain the higher levels. The price has again corrected to the 20-day EMA, forming a head and shoulders pattern, which will complete on a breakdown and close below the neckline.
The potential breakdown has a pattern target of $32.00. However, $40.4240, the 50-day SMA and the uptrend line can act as important supports.
The 20-day EMA is flattening out, and the RSI has also declined to the midpoint. This shows that the bulls are losing their edge in the short term. But if theLTC/USDpair rebounds either from the 20-day EMA, or from the neckline, it will again try to scale above $50 and prolong its recovery. The traders can keep a stop loss of $40 on the remaininglongposition.
Bitcoin Cash (BCH) could not break out of the 20-day EMA for the past five days, which attracted selling. The price has broken down of the 50-day SMA, which is a bearish sign. It can now drop to $116.79, and below it to $105. Traders who are holdinglongpositions can keep their stop loss at $116.
TheBCH/USDpair will prove us wrong if it reverses direction from the current levels and breaks out of $140. Until then, every rise will be likely to attract selling. The RSI is in the negative zone, but the moving averages are still flat, which points to a likely consolidation.
Binance Coin (BNB) closed above $12 on March 2, thereby triggering our buy suggested in thepreviousanalysis. However, the close above $12 attracted profit booking by the bulls that have dragged the price back into the critical support zone of $10–$12.
Both of the moving averages are sloping up, and the RSI is in the positive zone, which shows that the trend is up. The first support on the downside is the 20-day EMA, and below it $9.2450296. If these support levels fail to hold, the slide can extend to the 50-day SMA.
Conversely, if theBNB/USDpair bounces off the 20-day EMA and breaks out of $12, it could move up to $15, and above it to $18. Therefore, traders who have entered long positions can keep their stop loss at $9.
Stellar (XLM) tried to break out of the overhead resistance at $0.09285498 on March 3, but failed. Currently, the price has turned around and broken below the moving averages. A break below $0.08184371 can result in a retest of the yearly low.
The 20-day EMA is flat, and the 50-day SMA is sloping down. The RSI has also slipped below the 50 levels, which shows that the sellers are at an advantage.
Our bearish view will be invalidated if theXLM/USDpair turns around from the current levels and breaks out of $0.10. The pair has been a huge underperformer, as it did not participate in the recent pullback. This shows a lack of interest among the market participants to own this coin. We shall wait for a trend reversal before recommending a trade in it.
Tron (TRX) has broken down of the support at $0.02306493, and is close to the next support at $0.02113440. If this level breaks, the next support to watch on the downside is $0.01830000. The moving averages have completed a bearish crossover, which is a negative sign.
If theTRX/USDpair holds above $0.01830, it will be likely to extend its stay in the range and might offer us an opportune trade. Nonetheless, if the bulls fail to defend the support at $0.01830, a deeper fall towards the yearly low will become probable.
Our bearish view will be invalidated if the price turns around from the current levels and rallies above both of the moving averages, as well as $0.02815521.
Bitcoin SV (BSV) has failed to hold the moving averages. It is now threatening to break below the support at $65.031. This shows a lack of buying interest at higher levels.
The immediate support zone on the downside is between $58 and $60. If theBSV/USDpair plunges below this zone, a fall to the lifetime low at $38.528 is probable. With both of the moving averages sloping down and the RSI in the negative territory, the path of least resistance is to the downside.
Conversely, if the cryptocurrency holds above the supports, it will again attempt to rise above $77.035. If successful, it can move up to $102.580, and above it to $123.980. Therefore, we might suggest long positions if the price sustains above $78. Until then, we cannot find any reliable buy setups.
The market data is provided by theHitBTCexchange. The charts for the analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Bitcoin SV: Price Analysis, March 1
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, TRON, Binance Coin, Bitcoin SV: Price Analysis, February 27
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Cardano: Price Analysis, Feb. 25
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Cardano: Price Analysis, Feb. 22 || Which of these Ethereum wallets should you use?: There are a number of Ethereum wallets around today, but it is important that investors choose the best and most secure wallets available to them. Ethereum is a decentralised smart contract platform. Just like Bitcoin, Ethereum has a token called Ether, a blockchain, nodes, and miners. However, Ethereums blockchain maintains a consensus for a virtual computer called the Ethereum Virtual Machine (EVM). Ether is the native token on the Ethereum network. There are around 100 million Ether (ETH) on the network, with these tokens being used to incentivise miners to run their mining hardware for Ethereum. These miners and the token help to keep the network decentralised. The Ether tokens can be used for payments between users and to power smart contracts. To run a smart contract, Ether is turned into gas which powers the smart contract on the EVM. Different types of wallets A cryptocurrency wallet refers to a place or device where users can store their cryptocurrency. To find the right Ethereum wallet for your needs, you will need to have a basic understanding of how storing crypto works . There are different types of ETH wallets, including hardware, desktop, mobile, and paper. There are also wallets that just hold Ether and some that hold an array of cryptocurrencies and tokens. Here we will go through some of these different wallets to give you an idea of the best Ethereum wallets to use. Trezor hardware wallet The Trezor wallet was the first ever hardware wallet developed for Bitcoin and now provides support for Ethereum. In fact, the wallet now supports all ERC-20 tokens on the Ethereum network. To control the tokens that are stored on the Trezor wallet, users will have to use an Ethereum web wallet. Trezor recommends MyEtherWallet, where users can control the use of their Ether in the online wallets browsing platform. Similarly, if a user wants to create or deploy smart contracts, they will also need to use MyEtherWallet combined with the Trezor wallet. Story continues One of the biggest advantages of this hardware wallet is its security features. Offline (hardware) wallets have major advantages over online wallets as they are less likely to be hacked. But Trezor has added benefits to secure Ethereum holdings. These include two-factor authentication, a screen that allows users to check their transaction details, and advanced cryptography. MyEtherWallet online wallet MyEtherWallet is an online wallet, meaning it is run on the cloud and can be accessed from anywhere at any given time as long as there is an internet connection. Even though online wallets are the simplest to set up and provide convenient access to ETH, they are not as safe and secure as other types of wallets. MyEtherWallet is a web wallet with a difference though. It allows users to store Ethereum keys on personal computers rather than on third-party servers. This enables users to have an added level of security compared to other online wallets. Users do not need to provide or insert any personal information to create a wallet, and they have access to a handy feature that allows them to write and access smart contracts. This accessibility and easy-to-use system makes the wallet extremely popular within the Ethereum community. Atomic Wallet desktop wallet Desktop wallets are known for being extremely user friendly and provide a higher level of security than online wallets. Atomic Wallet allows users to easily hold all ERC-20 tokens in a simple and highly-explanatory wallet. It is ideal for beginners who wish to use a single wallet to hold all of their Ether or ERC-20 tokens. Atomic Wallet also allows users to exchange and trade all Ether tokens directly through the wallet. This is due to its integration of ShapeShift and Changelly. This factor again makes this desktop wallet a clear winner for beginners who want all of their holdings and processes to be done and kept in one safe place. Jaxx mobile wallet Mobile wallets such as Jaxx run via an app that users can download on their smartphone. They are easier to use than desktop wallets, but there is the added risk that if a phone gets lost or stolen, your cryptocurrency could be stolen. Jaxx is a free, multi-currency wallet that offers Ether holders the ability to store their tokens safely. It also has a user-friendly interface that ensures beginners are able to work it. All information and data is set out in an easy manner, meaning users will only have to use the one app for their holdings. Final thoughts You now know some of the top Ethereum wallets on the market today. However, it is important to remember that cryptocurrencies and tokens can be extremely volatile, so it is important you do your own research before investing in Ethereum. For guides on cryptocurrencies , exchanges , and blockchain technology , click here . Make sure you take a look at all the latest crypto and blockchain news . The post Which of these Ethereum wallets should you use? appeared first on Coin Rivet . || CoinMarketCap Will Alter Listing Metrics After Latest Fake Volume Research: Cryptocurrency market data resource CoinMarketCap (CMC) has promised to rearrange how it ranks member exchanges after research found overwhelming evidence of fake volume. The company confirmed the upcoming changes on social media on March 25. CMC is arguably the industry’s best-known tracking service for the market cap of Bitcoin (BTC) and altcoins , as well as for the activity on exchanges trading them. However, last week, research from cryptocurrency index fund provider Bitwise claimed that CMC hosts almost entirely fake volume statistics. This in turn deceives investors and inflates the profile of affected coins, Bitwise explained in the report. Now, CMC has appeared to heed the warnings represented in the research, which Bitwise sent to United States regulators for consideration as part of its application to launch a Bitcoin exchange-traded fund ( ETF ). “We are listening to all our users' feedback, and we are working hard to add a suite of new metrics so users can get a fuller picture of exchanges and crypto on the site,” executives wrote on Twitter. Speaking to Bloomberg meanwhile, CMC’s global head of marketing, Carylyne Chan, offered a glimpse of how the site’s rankings would change in future. “For instance, if an exchange with low traffic has $300M volume and just 5 BTC in its wallet, users will be able to draw their own conclusions without the need for us to make arbitrary judgment calls on what is ’good’ or ’bad,’” she explained. CMC had previously caught the attention of crypto figures after previous research from trading platform The Tie likewise cast the spotlight on exchanges’ reported volumes. Specifically, Changpeng Zhao , CEO of Binance , argued a coin climbing the site’s rankings alienated experienced investors, who would automatically assume its size was suspect. As well, last week two exchanges with suspect trading volumes both briefly overtook Binance on CMC’s adjusted volumes rankings, a section of the site which attempts to filter out artificial volume and wash trading. Story continues Chan did not offer a timeframe for implementing the new changes. Related Articles: Crypto Analytics Firm Messari Introduces New Exchange Index Following Fake Volume Reports Report From Former CFTC Chairman Calls for Advanced Crypto Regulations Crypto Exchange CoinBene Assures Users That Prolonged Maintenance Not Due to Hack Coincheck Owner Monex Group Announces Major Management Changes || Bitcoin Pushes Over $5,300 as Most Top Cryptos See Gains: Saturday, April 27 — most of the top 20cryptocurrenciesare reporting slight to moderate gains on the day to press time. Bitcoin (BTC) has pushed just over the $5,300 mark.
Bitcoin is up just under 1% on the day, trading at$5,306at press time, according toCoinMarketCap. Looking at its weekly chart, the coin has seen almost no change, down just under 1%.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which is nearly $16.9 billion. The second-largest altcoin,XRP, has a market cap of $12.5 billion at press time.
CoinMarketCap data shows that ETH is up nearly 3% over the last 24 hours. At press time, ETH is trading around $160. On the week, the coin has also seen its value decrease by over 7%.
Ether 7-day price chart. Source:CoinMarketCap
XRP is down just 0.23% over the last 24 hours and is currently trading at around$0.297. On the week, the coin has also lost a significant almost 10 percent.
XRP 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies by market cap, the coins reporting the most notable price action are ontology (ONT), which is up over 11% on the day and down 12% on the week, and tezos (XTZ), which is up nearly 10% today and down almost 9% on the week.
Most other top 20 coins are up between one and three percent over the past 24 hours to press time.
At press time, thetotal market capitalizationof all cryptocurrencies is $172.2 billion, over 5.2% lower than the value it reported a week ago.
Total market capitalization 7-day chart. Source:CoinMarketCap
As Cointelegraphreportedearlier today, Samsung has become yet another big-name company to consider issuing its own cryptocurrency, according to a recent report.
In other crypto news, the ongoingsagasurrounding crypto exchange Bitfinex and its sister company, stablecoin tether (USDT), continues to unfold. Bitfinex has been accused by the Attorney General inNew Yorkof using Tether’s cash reservesto cover a rumored $850 million funding gapwith reserves meant for backing the stablecoin.
Today, April 27, Bitfinex’s CEOsenta letter to users stating that the accusations against it are “filled with inaccuracies and false assertions.”
• Bitcoin Falls Under $5,300 Again as Top Altcoins See Losses
• Bitcoin Hovers Over $5,250 as Top Cryptos See Growth
• Bitcoin Approaches $5,250, US Stocks Slightly Down
• Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs
[Random Sample of Social Media Buzz (last 60 days)]
03-16 11:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000016
HitBTC :0.00000016
LiveCoin:0.00000016
$SPD (JPY)
Yobit :0.07
HitBTC :0.07
LiveCoin:0.07 || Mar 16, 2019 19:33:00 UTC | 4,012.40$ | 3,540.10€ | 3,014.90£ | #Bitcoin #btc pic.twitter.com/eTT8X0r2FK || 15 Mart Cuma saat 14.00’da BtcTurk Twitter hesabında soracağımız #Bitcoin ve #blokzincir konulu soruya en hızlı doğru yanıt veren 3 kişiden biri ol, @vedatguven ve @ErkinSahinoz imzalı Blokzincir Kripto Paralar Bitcoin kitabı kazan! pic.twitter.com/wexEknVTnh || One Third to a Half of Those Who Follow Justin Sun May Be Fake Accounts - http://bit.ly/2TriJ7f
#bitcoin #btc #bitcoinnews #blockchainpic.twitter.com/5PmIhOPTSB || BTC: $5215.00, S: $ 15.57, G: $ 1,281.70 | Act: 21,548 Open: 6247 BTC: 46,287.5 | Total: $241,395,201 http://goo.gl/U94Tki #bitcoin || NTerminal Alert
We spotted a large Bitcoin transaction:
Transaction Amount USD: 9,089,454.00
Price USD: 4,131.57
Transaction Amount BTC: 2,200.00
URL: https://bitinfocharts.com/bitcoin/tx/057276860cc9e267fefcf20de06f4fc0301bc92d62ad355313b6df2d801ab148 … || https://t.co/AtPuEDrtCd allows you to use your coins to place bets, why hodl crypto when you can play and win🙌#btc #bitcoin #eth #bitcoinprice #ethereum #tron #ltc #forex #bitcoincash #stocks #cryptocurrency #betting #bets #bitcoinfutures #successful #happy #rich #business🙌 https://t.co/DlbjZMFEqn || ₿ #BTCUSD #Bitcoin = 3.861,00 #Dolar Güncelleme Saati : 09:00 || #BTCUSD Market #1H timeframe on March 11 at 02:00 (UTC) is #Bullish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Total Market Cap: $184,998,778,981
1 BTC: $5,631.99
BTC Dominance: 53.77%
Update Time: 23-04-2019 - 22:00:04 (GMT+3)
|
Trend: up || Prices: 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Why Etsy, Inc. Stock Climbed 11% Last Month: What happened Shares of crafty online marketplace Etsy (NASDAQ: ETSY) were moving higher again last month after the stock benefited from momentum following a strong fourth-quarter earnings report at the end of February and the successful offering of $300 million in convertible senior notes. According to data from S&P Global Market Intelligence , the stock finished the month up 11%. As the chart below shows, Etsy's gains came in the first half of the month following its earnings report and the issuing of convertible notes. ETSY Chart ETSY data by YCharts. So what On Feb. 28, shares of the e-commerce operator jumped 20.4% after a better-than-expected fourth-quarter earnings report. Gross merchandise sales, or the dollar value of goods sold on the platform, surged 17.8%, to $1.02 billion. This was the first time the company crossed the billion-dollar mark and accelerated from just 13.2% growth in the third quarter. Adjusted earnings per share also improved from a loss of $0.19 a year ago to a $0.15 profit. Changes that were implemented after activist investors took stakes in the company nearly a year ago and Josh Silverman took the helm as CEO seemed to be paying off. The Etsy logo next to several blank price tags Image source: Etsy. Etsy stock jumped again on March 9, gaining 6% when the company issued $300 million of convertible notes with a conversion price of $36.27, which indicated another bullish signal for the stock. For the rest of the month, there was little material news out on the company and the stock traded sideways. At the end of March, the company added two new directors to the board, Edith Cooper, former Global Head of Human Capital at Goldman Sachs , and Gary Briggs, Chief Marketing Officer at Facebook . The moves seem to reflect Silverman's ongoing efforts to remake the company. Now what Etsy shares have nearly tripled over the last year due to accelerating growth and the fact that the company has adequately defended itself from Amazon , which has made a push into handcrafted goods with its Amazon Handmade platform. With a unique niche in the arts-and-crafts e-commerce marketplace and the biggest number of buyers and sellers, Etsy should have an advantage over competitors like Amazon. If the company can keep demonstrating its long-term growth potential and posting solid growth numbers, the stock should continue moving higher. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Etsy. The Motley Fool has a disclosure policy . || Data Sheet—How Zuckerberg Acts in a Crisis: This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box,sign up here.
Good morning.Fortunedigital editor Andrew Nusca here, in for Adam.
FacebookCEO Mark Zuckerberg took the extraordinary step of speaking to the press on Thursday in a sign that the narrative around the company—that it can’t adequately protect the personal information of the many millions of people who use its signature social network—is spinning out of control.
Zuckerbergmade largely anodyne statementsin his prepared remarks—“We’re an idealistic and optimistic company,” he told a pack of professional skeptics, “but it’s clear now that we didn’t do enough”—but the question-and-answer portion of the call was where he began to reveal his perspective. “I clearly made a mistake by just dismissing fake news as ‘crazy,’ ” he replied to one question. “Our view of our relationship with people is that our job is to give them tools, and that it was largely people’s responsibility how they chose to use them,” he said to another. And to a cutting query asking if the board had discussed whether he should relinquish his role as chairman, Zuckerberg paused several painful beats before offering: “Not that I’m aware of.”
Facebook’s CEO uttered the word “responsibility” 17 times during the 50-minute press session. (He’ll likely say it many times more whenhe faces U.S. lawmakerson Tuesday and Wednesday next week.) Yet Zuckerberg’s remarks were neither meant to soothe the media (who continue tonurse their own damaged relationshipswith the platform) nor the 2.2 billion people who actively use Facebook. They were to calm jittery shareholders who have penalized the company’s stock price almost 20% since Facebook released its most recent quarterly earnings and promised to make changes to its News Feed to emphasize more “meaningful” content (read: less shamelessly viral, ergo less engaging)in the wake of Russian election interference. What has followed: AlarmingCambridge Analytica revelations, full-throated calls for accountability, and a pesky#DeleteFacebook movement.
In yesterday’s press call, Zuckerberg referred to Facebook’s eponymous social network as “complicated” and “complex.” I have little doubt that those statements are true. But Zuckerberg’s real task at hand isn’t taking a conciliatory stance, good as it may feel to the rest of us. It’s showing that the world’s largest social network can be harnessed—that his creation can be controlled. “I started this place. I run it,” Zuckerberg said at one point during the call. “And I am responsible for what happens here.”
Andrew Nusca@editorialisteandrew.nusca@fortune.com
Careful what you wish for.With President Donald Trump on a rampage againstAmazon, one of the company’s competitors saw an opportunity to fan the flames.Oraclechief executive Safra Catz dined with the president on Tuesday andcomplainedto Trump that the bidding process for a Pentagon cloud computing project seemed rigged to favor Amazon.
Too late this time.He may have lost the battle for Qualcomm, butBroadcomCEO Hock Tan made good on his promise to bring his company’s legal headquarters back to the United States. Qualcomm blocked Tan’s takeover by appealing to a U.S. group that can only evaluate mergers involving foreign companies. Tan’s next target likely won’t have that option. “The completion of our redomiciliation to the United States marks an important milestone in our company’s history as Broadcom has been an American company in every respect but our legal domicile,” Tansaid in a statement.
Handful of Bitcoin. A new smartphonedubbed the Finneywill come loaded with digital currency-related features, including the ability to store and spend crypto coinage. Startup Sirin Labs designed the device and will partner with Foxconn for manufacturing. Shipments are slated to begin in October.
Source of attack.The investigation into the background of theYouTube shooter, Nasim Najafi Aghdam,revealedthat the 39-year-old San Diego resident was an active video producer on the service, but was distressed that YouTube was filtering and blocking some of her work. Other companies in Silicon Valley arerethinkingtheir security measures in the wake of the tragedy.
Consolidated pitch.The leading service for crowdsourced social fundraising,GoFundMe,acquiredcompetitorYouCaring, which also favors excessive use of capital letters but uses a digital tipping fundraising model. YouCaring took off after professional football player J.J. Watt raised $37 million for Houston hurricane victims using the service last year.
Losing track.Another day, another data-stealing hack attack disclosed—actually two.SearsandDelta Air Linesdisclosed that customer credit and debit card informationwas stolenin a hack of an online support services provider called [24]7.ai.Fortunecybersecurity reporter Robert Hackettsummarizedsome of the lessons of the data theft fromPanera Bread, including that all companies should solicit vulnerability reports from security researchers via a clearly posted web page.
Quality not quantity. Apple’siOS App Storeshrunk by 5% last year, the first time it everlisted fewer appsthan a year before, tracking firm Appfigures reported on Wednesday. The total number of published apps was 2.1 million at the end of 2017, down from 2.2 million in 2016. The Android app storeGoogle Play, by contrast, grew 30% to hit 3.6 million apps.
Among the many problems facing social networksis the ease of spreading bullying and attacking messages aimed at particular individuals, most often women and minorities. Nicholas Christakis, director of Yale’s Human Nature Lab, is researching how and why people become trolls and how their influence spreads. Gaia Vince inMosiactakes a deep lookat efforts by Christakis and other scientists to understand this dark side of social networks:
Corporations already use a crude system of identifying so-called Instagram influencers to advertise their brands for them. But Christakis is looking not just at how popular an individual is, but also their position in the network and the shape of that network. In some networks, like a small isolated village, everyone is closely connected and you’re likely to know everyone at a party; in a city, by contrast, people may be living more closely by as a whole, but you are less likely to know everyone at a party there. How thoroughly interconnected a network is affects how behaviours and information spread around it, he explains.
“If you take carbon atoms and you assemble them one way, they become graphite, which is soft and dark. Take the same carbon atoms and assemble them a different way, and it becomes diamond, which is hard and clear. These properties of hardness and clearness aren’t properties of the carbon atoms – they’re properties of the collection of carbon atoms and depend on how you connect the carbon atoms to each other,” he says. “And it’s the same with human groups.”
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If you haven’t been to Seattle lately, you may have missed seeingAmazon’s massive indoor gardens, called the Spheres. Initially open to Amazon employees, the companyannouncedon Wednesday that it would start letting the public in on two Saturdays every month to see the tens of thousands of plants on display. || 3 Safe Dividend Stocks for a Chaotic Market: The stock market has been volatile over the past few months, partly thanks to President Donald Trump's proposals for new tariffs aimed at China and other trading partners. However, patient investors can ride out the storm with three of my favorite dividend stocks -- AT&T; (NYSE: T) , Johnson & Johnson (NYSE: JNJ) , and Las Vegas Sands (NYSE: LVS) . A classic dividend play AT&T has raised its dividend annually for over three decades, making it a Dividend Aristocrat . AT&T currently pays a forward dividend yield of 5.6%, which is nearly triple the S&P 500's average yield of 2%. It spent just 68% of its free cash flow on dividends over the past 12 months, meaning it has enough money to cover the dividend, making a dividend decrease unlikely. Paper money rains down on a smiling woman. Image source: Getty Images. AT&T is America's second-largest wireless carrier, top wireline services provider, and biggest pay TV provider. If its planned takeover of Time Warner (NYSE: TWX) is approved, it will also become one of the biggest media companies in the world. That massive ecosystem gives Ma Bell plenty of bundling options -- selling people more than one service -- which widens its edge over competitors like Verizon and T-Mobile . AT&T's stock is currently weighed down by near-term headwinds -- including slowing smartphone upgrades in the U.S., losses of video subscribers, high debt levels, antitrust concerns about the Time Warner buyout, and higher interest rates knocking down interest in dividend stocks. But over the long term, AT&T has repeatedly bounced back from micro and macro challenges while generating steady income for patient investors. The stock is fairly insulated from the trade clashes between the U.S. and China, and its downside potential should be limited by its high yield and its low forward https://www.fool.com/investing/general/2015/01/17/how-to-use-the-pe-ratio.aspx P/E of 10. A healthcare stock for all seasons Johnson & Johnson's three core businesses -- pharmaceutical products, consumer healthcare, and medical devices -- are so well-diversified that it's tough for any headwind to knock the 132-year-old company off course. J&J's growth might look glacial on a quarterly basis, but it's generated slow and steady growth over the years. Story continues Between 2007 and 2017, its annual revenue rose 25% and its adjusted earnings per share jumped 76%. Its stock nearly doubled over the past decade. The company pays a forward dividend yield of 2.6%, and it's raised its payout annually for over five decades -- which makes it another dependable Dividend Aristocrat. Those hikes, which used up just 50% of J&J's free cash flow over the past 12 months, should continue for the foreseeable future. Trade tensions, a soft dollar, and generic competition for former blockbuster drugs like Remicade are all near-term headwinds for J&J, but analysts still expect its revenue and earnings to rise 6% and 11%, respectively, this year. Those are solid growth figures for an all-weather stock that trades at just 16 times forward earnings. Let the house pay you Las Vegas Sands is the biggest casino operator in the world. It owns the Venetian and Palazzo in Las Vegas, the Marina Bay Sands in Singapore, and five major properties in Macau. Sands generates most of its profits from Asia. Artist's rendering of Las Vegas Sands properties Image source: Las Vegas Sands. Last quarter, 59% of Sands' consolidated hold-normalized adjusted property EBITDA , came from Macau, 30% came from Singapore, and the remaining 11% came from the United States. Sands' dependence on Asia will rise as it proceeds with its potential $10 billion expansion into Japan, which recently opened the door to integrated casino resorts. Gaming revenues in Macau rose 22% annually in March, beating expectations for 13%-18% growth and marking the region's 20th straight month of year-over-year growth. That's why analysts expect Sands' revenue and earnings to rise 5% and 9%, respectively, this year. Sands stock might not seem cheap at 21 times forward earnings, but it still trades at a discount to its rival Wynn , which has a forward P/E of 24. Sands also pays a forward dividend yield of 4.2%, and it's raised that payout annually for five straight years. It spent 79% of its free cash flow on those dividend payments over the past 12 months, indicating a dividend cut is not imminent. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Leo Sun owns shares of AT&T;, Johnson & Johnson, and Las Vegas Sands. The Motley Fool owns shares of and recommends Johnson & Johnson and Verizon Communications. The Motley Fool has the following options: long May 2018 $140 calls on Johnson & Johnson. The Motley Fool recommends Time Warner and T-Mobile US. The Motley Fool has a disclosure policy . || Inside The NTN Buzztime Proxy Fight: NTN Buzztime Inc (NYSE: NTN ) shareholder Sean Gordon, who owns roughly 9 percent of the company, is making a push to join the company’s board of directors. Up to this point, NTN Buzztime has not been receptive to the idea of nominating Gordon, and the company said a proxy fight could be detrimental. NTN Buzztime produces electronic trivia game networks for bars and restaurants, and 40 percent of its $21.3 million in annual revenue comes from Buffalo Wild Wings. In 2016, CEO Ram Krishnan predicted that NTN would grow its subscriber count to 10,000 different locations within five years , according to The San Diego Union-Tribune. Today, NTN has just 2,730 restaurant locations, and the company lost 114 subscriber locations in 2017, Gordon said. In the past three years, NTN stock is down 75 percent, and Gordon has argued that NTN has struggled to grow its business, has been slow to execute its strategy and is overly reliant on a single customer. Jumping Through Hoops NTN has said Gordon failed to meet the stockholder nomination requirements for a board seat, but Gordon said meeting those requirements are next to impossible. “In their corporate bylaws, they have numerous hurdles set up where you have to jump through the perfect hoop that is on fire with three tigers on the other side and come out safely,” Gordon said earlier this year, adding that he has attempted to meet the requirements to the best of his ability. NTN was notified in March that its has dropped below the $5.5-million NYSE minimum shareholder equity threshold required to maintain its listing, a warning that could set the company up for a dilutive capital raise in the near future. Demanding Access On Tuesday , Gordon updated NTN shareholders on his activist cause, disclosing that he has sent a letter to the company demanding access to a list of the company’s major shareholders. “Reviewing last year's shareholder vote, it is clear the market is sending a strong message to the board, as existing members only received roughly 50-percent support, and that was when they went unchallenged,” Gordon said in a press release. Story continues Gordon has said that NTN needs outside help to unlock what he sees as $25 to $50 per share in shareholder value. Related Links: Analyst: Activist Investor Starboard's Involvement Makes Mellanox 'Shareholder-Friendly' Dear Activists: Buying Stock Can Effect More Change Than Selling It Photo by Brian Rawson-Ketchum/Wikimedia. See more from Benzinga Today In Cryptocurrency: London Calling Bitcoin Cash, Investment Bank Predicts 90% Crash Low Float Du Jour: Integrated Media Technology Spikes 1,400% Wall Street Weighs In On Apple's Huge Quarter © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Natural Gas Price Fundamental Daily Forecast – EIA Storage Report Expected to Show 23 Bcf Draw: Natural gas rallied early in the session on Wednesday, but succumbed to heavy hedging pressure to finish only slightly better for the session. Speculators initially drove the market higher ahead of Thursday’s U.S. Energy Information Administration’s weekly storage report.
June Natural Gasfutures settled at $2.774, up $0.004 or +0.14%.
There were no significant revisions to the fundamental landscape so most of the price action was likely position-squaring. The move may have been designed to take out stops over $2.810 in order to allow hedgers to re-enter positions at more favorable price levels.
Today’s EIA report is likely to drive the price action immediately after its release, but the latest weather forecasts may take control later in the session since the report is considered “old news”.
Traders are looking for the report to show a draw of 23 Bcf for the week-ending April 13, which is 71 Bcf larger than a year ago and 62 Bcf larger than the 5-year average.
The EIA report is also expected to show 1,311 Bcf of working gas in storage during the same time period.
Fundamental traders are having a difficult time trying to forecast near-term demand because of the erratic weather pattern in the United States. The U.S. is currently showing heating demand in the Midwest and Northeast and cooling demand in parts of the Southeast and Southwest.
With cold weather lingering this week, we may see another small draw from natural gas storage for the week-ending April 20. This may be enough to keep a bid in the market, but not enough to drive it much beyond the $2.810 level which appears to be a key upside target.
Yesterday, the daily trend changed to up on the move through $2.810, but heavy selling came in at $2.818 to stop the rally and form a potentially bearish closing price reversal top. This may generate enough downside momentum to challenge the short-term retracement zone at $2.739 to $2.720.
During the early trade on Thursday, the market is straddling a 50% level at $2.766. Trader reaction to this level is likely to determine the direction of the market today.
Thisarticlewas originally posted on FX Empire
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• EUR/USD Mid-Session Technical Analysis for April 19, 2018 || Better Buy: AT&T, Inc. vs. T-Mobile: In one corner stands AT&T (NYSE: T) , the $210 billion telecommunications behemoth. In the other stands hard-charging challenger T-Mobile (NASDAQ: TMUS) . With AT&T, we have an industry stalwart with 34 straight years of dividend increases. With T-Mobile, we have a rising star with 15 consecutive quarters of industry-leading revenue growth. It's an intriguing matchup. Read on to see who will be crowned champ of this telecom showdown. Two business people wearing boxing gloves We pit AT&T versus T-Mobile in this better buy battle. Image source: Getty Images. Competitive position Though it's primarily known for its wireless phone services, AT&T is also the largest pay TV provider in the United States. This gives it the ability to bundle its services . Thanks to its $49 billion acquisition of DIRECTV in 2015, AT&T can offer its customers a service package that includes wireless, home phone, internet, and satellite TV. And with its new DIRECTV Now offering, AT&T has also added a streaming video option to the mix. T-Mobile, on the other hand, focuses almost exclusively on its wireless offering. Its competitive strategy is centered on its "Un-carrier" initiatives, which entail moves such as including taxes and fees in its pricing, excluding video streaming from data caps, and even throwing in a free Netflix subscription with its family plans. Moreover, T-Mobile is investing heavily to strengthen its wireless network. Its efforts are already bearing fruit: Recent studies suggest that T-Mobile's wireless network quality may now be best-in-class. This, combined with the popularity of its Un-carrier promotions, is helping T-Mobile gain subscribers at rapid clip, often at the expense of AT&T . With T-Mobile steadily gaining share from its larger rival, I'd argue that it's now in the stronger competitive position. Winner: T-Mobile Financial fortitude Let's now take a look at how AT&T and T-Mobile compare in regards to financial strength. Metric AT&T T-Mobile Revenue $160.55 billion $40.6 billion Earnings before interest, taxes, depreciation, and amortization $45.44 billion $10.69 billion Operating income $20.95 billion $4.89 billion Operating cash flow $39.15 billion $7.96 billion Free cash flow $17.6 billion ($3.1 billion) Cash $50.5 billion $1.22 billion Debt $165.67 billion $30.91 billion Data sources: Morningstar and Yahoo! Finance. Story continues AT&T's operating profits and cash flow dwarf those of T-Mobile. It also generated more than $17 billion in free cash flow over the past year, while T-Mobile's capital spending continues to outpace its cash production. And while most of it is earmarked for its pending acquisition of Time Warner , AT&T currently has more than $50 billion in cash in its coffers, compared to only about $1.2 billion for T-Mobile. Thus, AT&T currently has a clear edge in terms of financial fortitude. Winner: AT&T Valuation No "better buy" discussion should take place without a look at valuation. So let's check out some key metrics for these telecom rivals. Metric AT&T T-Mobile Trailing P/E 7.31 11.84 Forward P/E 10.09 14.84 PEG 1.12 0.66 Data source: Yahoo! Finance. AT&T appears to be the better bargain until you look at the price-to-earnings-to-growth ( PEG ) ratio, which in my opinion is the most important out of these three metrics. The sizable variance in AT&T's and T-Mobile's PEG ratios is due to the fact that Wall Street is expecting T-Mobile to grow its earnings at an annualized rate of more than 28% over the next five years, compared to about 9% annually for AT&T. That's why, even though it has a significantly higher P/E ratio, T-Mobile's stock is 40% less expensive on a PEG basis. As such, I'd argue that it's the better bargain. Winner: T-Mobile The winner is... In a surprise upset, underdog T-Mobile takes down AT&T. AT&T is still a financial powerhouse, but T-Mobile's superior growth trajectory and more attractively valued stock make it the better buy today. 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 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Netflix. The Motley Fool recommends Time Warner and T-Mobile US. The Motley Fool has a disclosure policy . || 1 More Technology Apple Inc. Needs to Bring In-House: I've written extensively about Apple Inc. 's (NASDAQ: AAPL) recent failures to develop best-in-class smartphone cameras. Apple's iPhone X, the company's flagship device, has already been bested in camera performance by other flagship devices, including the Pixel 2 , Galaxy S9 Plus , and the Huawei P20 and P20 Pro smartphones. Considering how important camera performance is in the premium part of the smartphone market, Apple's inability to build undeniable leadership in mobile cameras is a problem, and it could be even more of a problem in the years to come if Apple's competitors continue to pull ahead. Apple's iPhones in a mosaic pattern. Image source: Apple. One way for Apple to potentially take the lead in camera technology may be to further vertically integrate by bringing camera sensor design in-house. A competitive edge Today, Apple sources its image sensors from Sony (NYSE: SNE) , a well-known maker of high-end smartphone camera image sensors. Although it's likely that the sensors are customized to Apple's needs -- at least to some degree -- the reality is that other smartphone makers can also buy image sensors from Sony. This limits Apple's ability to differentiate its cameras' performance from that of other high-end flagship smartphones. So, what Apple might want to do is what it has done with other key smartphone technologies: bring image sensor design in-house. By controlling the design of its own image sensors, Apple would be able to build differentiated sensors that meet the company's exact requirements. Each design decision and trade-off would be made solely based on what Apple wants, not on what a relatively large set of customers might want. Apple is unlikely to manufacture the sensors itself, as this would require significant capital investment. But Apple's longtime contract chip manufacturing partner Taiwan Semiconductor Manufacturing Company (NYSE: TSM) seems like a viable candidate for the manufacture of Apple-designed image sensors (TSMC advertises its image sensor manufacturing capabilities on its website). Additionally, since Apple can throw a considerable amount of money behind the development of its in-house sensors, its sheer financial muscle could allow it to develop technologies at a pace that others -- perhaps even Sony -- could not match. Any evidence that Apple is considering this? There's some publicly available evidence to suggest that Apple may, in fact, be looking to develop its own image sensors rather than rely on third parties indefinitely. Back in 2015, Apple posted a job listing looking for a "Sensor Digital Design Lead." Story continues "In this role, you will be at the center of image sensor design effort, with a critical impact on camera design," the listing read. More recently, in late 2017, Apple acquired an image sensor start-up known as InVisage, which purported to have unique image sensor technologies that improved dynamic range, slow-motion video capture, and shutter speed over traditional image sensors. I wouldn't be surprised, then, to see Apple roll out iPhones with custom-designed image sensors sometime in the next three to five years. Custom image sensors won't help Apple regain camera superiority in the near term -- it'll need to buy or co-develop better sensors with external vendors for a while still -- but they could help Apple's products in the long term. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. 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 . View comments || 5 Key Takeaways From ExxonMobil's Analyst Meeting: After last quarter's earnings report, there was some concern thatExxonMobil(NYSE: XOM)was justspinning its wheelsand didn't have a coherent plan to grow the business in this low oil price environment. At the time, management was shorter on details than usual -- which is saying something, because ExxonMobil is typically a pretty tight-lipped organization. It appears, though, that it was waiting until its most recent analyst meeting to provide investors with details about its plans for the future.
Based on the things management highlighted in this presentation, the next half-decade is likely going to be a big one for ExxonMobil. Here are five takeaways from the company's analyst meeting that should give investors an idea of what's coming down the pipe.
Image source: Getty Images.
Historically, ExxonMobil has been the one company in the industry that invests in the business through thick and thin. It has been a significant reason the company has maintained higher rates of return than its peers for decades. During this most recent oil downturn, though, management uncharacteristically elected to lower capital spending as it completed projects to preserve its balance sheet and dividend payments as much as possible.
It appears that this flirtation with belt-tightening will come to an end, though, as management plans to ratchet up its capital budget over the next few years.
Image source: ExxonMobil investor presentation.
With oil prices where they are today, the idea of Exxon increasing its capital spending plan to around $35 billion annually by 2020 sounds a little frightening. Looking at the oil and gas industry, though, it appears to be a bet that we could be headed for a bit of a supply crunch in a few years.
Exxon, its peers, and just about every other producer out there concentrated spending on either maintaining existing production levels or trying to squeeze a little more out of existing assets from 2015-2017. The trade-off for that is a much sharper drop off in production later on and a shorter reservoir life. With those existing assets now likely on shorter time windows and a general lack of investment in new production sources, there is a good chance that oil supply could be tight by the end of the decade, so Exxon wants to ramp up spending now to capture that market when it comes.
The largest knock on ExxonMobil recently has been a complete lack of production growth in recent years. While it has brought on a few new production sources, it hasn't been nearly enough to offset the declines across the rest of the portfolio.
With this new capital spending plan, though, Exxon expects to deliver 25 new major projects and increase its production of shale oil in the Permian Basin by five fold. Combined, these should grow net production by an additional 1 million barrels of oil equivalent per day. That puts Exxon's production growth plans on the high end of its peers, which is a major turnaround from just a few months ago, when itsproduction plans looked meager by comparison.
Increasing capital spending and production by such large amounts sounds great, but there is probably a small voice in the back of your head saying, "what if oil prices fall again?"
It's a legitimate concern, and that's probably why management added this slide to its presentation.
Image source: ExxonMobil investor presentation.
That is pretty astounding if you step back and think about it for a second. Management estimates that it can grow cash flow from operations by 50% compared to 2017 if oil prices were to remain around $40 a barrel.
Reading that, the first thing that comes to mind is "that's absurd." We saw what happened when oil went to $40 a barrel, and Exxon's cash from operations dried up fast. One of the ways management wants address this is to put a greater emphasis on investing in its downstream and chemical production capabilities.
Current CEO Darren Woods' predecessors -- Lee Raymond and Rex Tillerson -- both came from the upstream production side of the business. So, it should come as no surprise that much of the emphasis during that time was on growing production and backfilling its reserves with discoveries. Woods, on the other hand, is a downstream guy, and it's clear that he wants to round out the company's integrated model.
Between now and 2025, the company will start up operations at 13 new chemical production facilities worldwide -- seven of which should start up by the end of 2018. Much of that investment is going to the U.S. Gulf Coast region because of cheap feedstock costs. On top of that, the company is mulling an expansion of its Beaumont, Texas, refinery that would be the largest increase in U.S. refining capacity in decades.
By expanding its presence in refining, lubricants, and petrochemical manufacturing, ExxonMobil is helping to insulate some of its future cash flows from the ups and downs of oil prices. These businesses typically do well when production is struggling. It also helps that much of those new downstream assets will be located in a place where it can use its production from the Permian Basin, which should allow the company to extract more value out of each molecule.
XOM Return on Equity (TTM)data byYCharts.
In a rather surprising turn of events, ExxonMobil temporarily lost its crown as the integrated oil and gas company with the highest return on equity in 2017. With this spending plan, though, management intends to not only recapture that title, but also put a lot of breathing room between it and the competition.
According to management, it will be able to achieve an average return on capital employed of 15% by 2025 with oil remaining around $60 a barrel, with considerable upside if we were to see an uptick in prices. If we do see a rise in prices, as the company's upstream spending plan suggests, then Exxon could produce some rather incredible returns over the next decade.
There is a lot to like in Exxon's strategic plan. While all investors will like growth in production and increasing rates of return, it's also encouraging to see that many of its spending plans seem relatively safe. Unlike the prior wave of investment that involved several mega projects in remote parts of the world, a lot of these investments are in more known quantities, which makes for a safer bet. The riskiest projects in this plan are for its offshore Guyana project and a massive LNG export terminal in Mozambique. If there was one critique of this plan, it's that the company still seems to be underinvesting in alternatives to its existing business that may be needed further down the road.
If investors were at all concerned about Exxon's future as an investment over the next few years, though, this plan should put those concerns to bed.
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Tyler Croweowns shares of ExxonMobil. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Treasury Bond ETFs Attract Robust Safe-Haven Bets: This article was originally published on ETFTrends.com. As traders turn risk-off in response to escalating trade war tensions, investors have been diving into safety bets like Treasury bonds and related ETFs. A weekly data compilation by Bank of America Merrill Lynch revealed the third straight week of equity outflows, with redemptions of $7.2 billion, Reuters reports. Meanwhile, bonds recorded the biggest inflows in 12 weeks at $8.1 billion. “Off to Treasury Island to flee stormy China-U.S. weather,” BAML titled its weekly note, adding that U.S. Treasuries had seen their biggest inflows since January 2016 at $4 billion. “(This) shows investors positioning for lower yields; BAML private client debt allocation is up to 23.3 percent...Treasury inflows are the most visible expression of positioning for risk-off to date.” Related: Bond ETF Investors & Active Strategies Ahead In the ETF space, Treasury bond-related ETFs were among the most popular picks of the past week. For example, the iShares Short Treasury Bond ETF ( SHV ) attracted $848.8 million in net inflows over the past week while iShares 20+ Year Treasury Bond ETF ( TLT ) saw $731.4 million in inflows, iShares 1-3 Year Treasury Bond ETF ( SHY ) added $450.8 million, SPDR Barclays 1-3 Month T-Bill ( BIL ) brought in $416.3 million and iShares 7-10 Year Treasury Bond ETF ( IEF ) experienced $319 million in inflows, according to XTF data. Global markets have been gripped with volatility after U.S. President Donald Trump raised the pressure on China and fueled fears the world's two largest economies could trigger an all-out trade war. Trump recently fanned the flames late Thursday when he instructed U.S. trade officials to consider $100 billion in additional tariffs on China. Beijing on Friday warned it would fight back "at any cost" to safeguard its interests. Related: A Smart Beta Bond ETF for Rising Interest Rates Consequently, in response to the escalating tensions, traders have been dumping riskier equity market exposure and shifting assets toward safe-haven plays like U.S. Treasury bonds. Yields on benchmark 10-year Treasury notes have dipped to 2.781% from the 2.94% highs back in February in response to rising bond prices. For more information on the fixed-income market, visit our bond ETFs category . POPULAR ARTICLES FROM ETFTRENDS.COM Why Gold ETFs Are Set to Climb How to Find Best Value With Tech ETFs Researching Multi-Factor ETFs? Start Here… India Latest Country to Crackdown On Bitcoin As Trade Tensions Linger, China ETFs Remain Hot READ MORE AT ETFTRENDS.COM > View comments || 3 Stocks the World's Best Investors Are Buying Right Now: It's impossible to follow thespecificinvesting strategies of the world's best investors. After all, we don't always know why they make their particular stock picks or how their choices fit into their long-term investing plans.
But knowing which stocks the most successful investors are buyingcanhelp the average investor challenge their own ideas about whether a company's stock is worth buying, or even confirm a line of reasoning for their own investing thesis. And if nothing else, it's worth knowing what the top investors are buying simply because they're the best at doing what we're trying to do. That's why you should considerCenterPoint Energy(NYSE: CNP),SandRidge Energy(NYSE: SD), andApple(NASDAQ: AAPL). They've all risen to the top of the buy list for some of the world's most accomplished investors.
Image source: Getty Images.
Maxx Chatsko(CenterPoint Energy):Recent SEC filings show that Bridgewater Associates, the firm founded byRay Dalio, has been gobbling up shares of Texas-based electric and gas utility CenterPoint Energy. In a span of just three months, from the end of September to the end of December, Bridgewater increased its position 70%. Should you follow the investing legend?
CenterPoint Energy turned in a solid year of operations in 2017. A significant year-over-year improvement was made possible in large part due to struggles in 2016, but the business is definitively stronger now. The electric utility generated about the same operating income in both periods, while the gas utility grew operating income 8% between periods. Meanwhile, the company's high-growth energy services unit churned out $125 million in operating income, compared to just $20 million in 2016.
The biggest reason CenterPoint Energy stock has been more volatile than most slow-growing utilities is itsmajor equity investmentinEnable Midstream Partners LP. That position handed the utility equity income of $265 million in 2017, a 27% jump from 2016. As energy prices remain strong and American energy production continues to rise, the investment could prove less risky over time. That would be a boon to shareholders.
Management expects the overall business to continue growing in 2018. After posting 18% EPS growth last year and reporting $1.37 in net income per share, CenterPoint Energy has guided for EPS in the range of $1.50 to $1.60 this year. That should treat shareholders, who are already receiving a healthy 4.1%dividend yield, pretty well.
While this has been riskier than most utilities thanks to the relatively volatile midstream component, management bet the equity stake would provide more room for growth and share appreciation. That could begin paying off in 2018, which may explain Bridgewater's recent interest. That said, investors shouldn't blindly follow Ray Dalio, but instead give this stock a closer look to see if it fits with their own wealth-building strategy.
Dan Caplinger(SandRidge Energy):The energy sector has been a topsy-turvy part of the market in recent years, and many smaller energy companies have suffered mightily due to the plunge in crude oil prices that happened in the mid-2010s. SandRidge Energy in particular had to declare bankruptcy in the aftermath of the energy bust, but some investors had high hopes that when the company emerged from bankruptcy protection in late 2016, it would be in a better position to rebound.
Billionaire Carl Icahn seemed to believe that hypothesis when he first started accumulating shares of SandRidge in 2017, but he accelerated his purchases when SandRidge said it would seek to acquireBonanza Creek Energy.Icahn vociferously disagreed with the move, saying that the deal was a bad idea. SandRidge eventually gave up on the deal in response to more extensive shareholder criticism.
Now, Icahn seems willing to make an even bigger commitment to SandRidge, waging a proxy battle to get directors on the energy company's board, and even weighing an offer to purchase the company outright. SandRidge has said it will evaluate any offers, but it'll be interesting to see whether Icahn can use his activist investor skills to extract the same sort of profits he has earned with investments in other companies in his storied past.
Chris Neiger(Apple): Berkshire Hathaway(NYSE: BRK-A)(NYSE: BRK-B), the holding company run by famed billionaire investor Warren Buffett, snatched up more shares of the iPhone maker at the end of 2017, according to the company's 13F filing in February. Buffett's company has been investing in Apple since the beginning of 2016, but the latest filing shows that the stock purchases are accelerating.
Berkshire bought just 3.9 million shares of Apple in the third quarter of 2017, but it added another 31.2 million shares in the fourth quarter. That brings the company's total amount of Apple shares to a staggering 166 million.
Buffett, who famously used to avoid technology stocks, clearly anticipates more long-term growth for Apple. He said n a recent CNBCinterviewthat Apple has "an extraordinary consumer franchise" and has built a strong ecosystem. That ecosystem of hardware and services sales helped Apple's sales jump 13% and its earnings pop 16% year over year in the most recent quarter. Services revenue was up 18% year over year to nearly $8.5 billion in the fiscal first quarter and accounted for 9.5% of Apple's top line.
Though Berkshire has already increased its position in Apple over the past couple of years, it's likely Berkshire could add to the position. Apple's shares trade at just 13.2 times the company's forward earnings, which makes its stock a relative bargain compared to many tech stocks.
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Chris Neigerhas no position in any of the stocks mentioned.Dan Caplingerowns shares of Apple and Berkshire Hathaway (B shares).Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple and Berkshire Hathaway (B shares). The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
#Freebie #Airdrop #Free #btc #bitcoin #Easter #blockchain #bethereum #money #ICO #ETH
SNTR Airdrop - https://goo.gl/qgGYYh
1. Start the bot
2. Join Telegram @SilentNotary
3. Join @snairdrop1 and enter /invite
4. Go back to the bot and set your ETH /addres || India cracks down on bitcoin and hints it may launch its own digital currency https://finance.yahoo.com/news/india-cracks-down-bitcoin-hints-104937194.html?soc_src=social-sh&soc_trk=tw … via @YahooFinance || Everyone around the world.... a #Ripple is about to hit us... be a part of the big wave ... block chain technology will succeed it is our #future #Blockchain #blockchaintechnology #xrp #cryptocurrency #Stellar #Bitcoin #ethereum #litecoin #BullRun #IQOption #world || Más del 415% de rentabilidad en los 2 primeros meses. Recibe señales e información relativa a criptomonedas de manera gratuita en el Canal de Telegram:
https://t.me/CriptoAlertasEsp …
$BTC $TRX #ETC $BTC $BTCP $LTC $XRP $PAC $VIBE $ZIL $VEN $WTC $NANO $BCC $XVG $NEO $STORM $ETHpic.twitter.com/ttzccqN7sZ || BTC 19.94%
BTH 27.81%
LTC 41.28%
Dash 8.96% || $SBD may go up
BITTREX LISTED
TRADINGVIEW CHART: http://bit.ly/2EVJSZ6
Price: 0.00034175 BTC
1H: 0.09%
24H: 56.09%
7D: 44.14%
24H Vol: $115,142,000
This is not an investment advice. #DYOR #YTD #BotBittrex || hmm, sweet $BTC pic.twitter.com/J6TzknLLsI || $BTC should dump any time now. Probably within the next 6 hours, based on the hourly chart. || #Bitcoin Biarritz : la journée consacrée aux cryptomonnaies https://www.contrepoints.org/2018/04/07/313440-bitcoin-biarritz-la-journee-consacree-aux-cryptomonnaies … || Bitcoin、Litecoin、Monero、DASHなどを完全匿名で現金で個人間で簡単に対面売買することができるサイト、btc-trade-p2pの運営をしております。
#暗号通貨 #ビットコイン #bitcoin #BTC
http://btctrade.web.fc2.com
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Trend: down || Prices: 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83
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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 2019-04-04]
BTC Price: 4922.80, BTC RSI: 84.46
Gold Price: 1289.00, Gold RSI: 43.09
Oil Price: 62.10, Oil RSI: 69.54
[Random Sample of News (last 60 days)]
CBOE Trashing Bitcoin Futures Signals Crypto Market Bottom: Brian Kelly: Cryptocurrency investor Brian Kelly believes that the decision to drop bitcoin futures by theChicago Board Options Exchange(CBOE) represents a watershed in the history of bitcoin, signaling that the crypto market’s longest-ever decline has finally found a bottom.
Speaking on Tuesday’s edition ofCNBC Fast Money, the BKCM Digital Asset Fund founder and CEO stated that he sees improvement in bitcoin address growth and market sentiment since December 2018 as evidence that the retail end of the bear market is “exhausted.”
CCN recently reported that CBOE ditchedbitcoin futures, announcing earlier in March that it decided to stop listing new XBT futures contracts, at least for now. Following the announcement, prominent traderMark Dowstated that abysmal liquidity figures make it difficult to believe that institutional investment is actually going into bitcoin
Speaking on the “Fast Money” panel, Kelly explained that a unique mixture of factors including shifting fundamentals make it likely thatbitcoinis poised to break out of its prolonged bear phase which has lasted more than a year now.
In his words:
“I think we could look back on this and say that was the bottom…There’s a couple of things that have gone on since the low in December. We’ve seen the underlying fundamentals improve…I think retail is exhausted. You’re starting to see sellers being exhausted and institutions come in. Fidelity is a catalyst coming up in Q2. I think with all those things combined, we might look back and say ‘You know what, in the $3000’s is a great place to buy bitcoin.’” || FCA finds people think cryptocurrency is a way to get rich quick: A report commissioned by the Financial Conduct Authority (FCA) finds that consumers buying crypto assets are often looking for ways to get rich quick. Many of those interviewed by researched for the Revealing Reality study perceived it as a short cut to easy money and wealth. They often cited influence from others, including social media, as motivation for investing. It found many consumers overestimated their knowledge of cryptoassets. Several of those interviewed talked of wanting to buy a whole coin, not realising that they could buy just part of one. Tangible Many consumers seemed to have a sense that they were investing in tangible assets, due to the language and imagery associated with crypto assets, such as mining and coin. The FCA says only a small minority of UK consumers have bought crypto assets and many do not understand what they are. It estimates that only 3% of those surveyed had ever bought crypto assets, and 73% of UK consumers dont know what a cryptocurrency is or are unable to define it. The survey indicated that, amongst a small sub-sample, around half of those who buy crypto assets spend less than £200. Most use their own disposable income none of those surveyed within the sub-sample, said that they borrowed money. One in 100 Most consumers who havent bought crypto assets to-date arent likely to do so. Of those who had never bought crypto assets, only one in 100 people said they would definitely buy in the future. Gavin Brown (pictured, below), a senior lecturer at Manchester Metropolitan University, says regulation of crypto assets is complex and evolving. In March 2017, as part of its wider fin tech strategy, the government announced the establishment of an FCA, HM Treasury and Bank of England taskforce on crypto assets and distributed ledger technology. The report, which was based on the experiences of 33 consumers, found while there has been a great deal of research and debate devoted to the potential uses of crypto assets, blockchain and the underlying distributed ledger technology, there is a noticeable gap in research that aims to understand the experience of purchasing crypto assets from a consumer perspective. Story continues Meaningful investigation The survey is based upon 2,132 face-to-face interviews in December 2018 which although not fully representative is still a meaningful investigation that is worthy of our attention and consideration, he says. Only 3% of the above sample had ever previously purchased cryptocurrencies. That equates to just 64 people. The FCA suggest that prior purchase research from these individuals was often insufficient but was at least financed by their own funds rather than borrowings in all cases. The key outcome is that, over 70% of those surveyed havent heard of cryptocurrencies or didnt know how to define one. A reassertion that despite the asset class marking 10 years since Satoshis paper in late 2008 and the Bitcoin genesis block being mined on 3rd Jan 2009, for the majority of the public such crypto oassets are still outside of the national psyche and certainly the understanding of the vast majority. No regrets With 67% of respondents not regretting their original investment during a bear market the research mirrors the HODL position of many who see this as a medium to long-term investment which perhaps goes some way to explaining the reduced liquidity and relative lack of price volatility in the markets of late, he adds. It will be interesting to see if the early adopters gain from their risk-taking behaviour. Historically, there are many who correctly predicted the post dotcom crash growth of new tech and platforming businesses, but who chose now defunct businesses such as boo.com and Webvan rather than one of the FAANGs [Facebook, Amazon, Apple, Netflix and Google.] Such disproportionate gains for the prudent, or lucky, investor will continue to attract gamblers who are effectively noise traders to cryptoa ssets. With over two thousand coins presently listed on coinmarketcap.com for better or worse we can only confirm the adage of caveat emptor buyer beware. Not easy The authors noted that recruiting respondents for the research was not easy. Those purchasing crypto assets, or those interested in doing so, were often not easily identifiable. In part, this was because it is largely a private activity, taking place behind closed doors. And some people were not comfortable disclosing details about their financial situation, particularly when they had made losses. They spoke to Kyle, 22, from Manchester, who first dealt with crypto assets when he was 16 to buy illegal drugs only. He told researchers: It was only when I was 20 or 21 when I saw it is an investment. He bought £1,000 of Bitcoin, Ripple, Tron, Excelen, Appcoin and Elastos with a student loan in January 2018. He concedes the purchase was made at the worst possible time as the value of Bitcoin plummeted just a few weeks later. Litecoins Angela, 26, who works in HR in luxury fashion in London purchased two Litecoins at £650, deciding not to consult her boyfriend or peers who knew more about the market. She told researchers: I wanted to feel like I did it on my own. She felt that Bitcoin was a safer investment but couldnt afford to buy a whole one, so instead preferred to buy two whole Litecoins. Her purchase fell quickly, and at the time of the interview was worth £86 in total. Angela regrets her decision to buy crypto assets: I only did my research after I had already bought them, she added. Elena, 34, is a former marketing director for an ICO in Bulgaria, who lives in London. She is comfortable financially from her previous work in marketing and she works part-time in admin. External influences Having previously worked as a marketing director for one of her friends ICOs, she knows how external influences can drive market movements, therefore affecting value. Recently she bought Polkadot with 60,000, reporting a profit of 40,000. She values uer holdings at 200,000 at the time of the interview. Her main influence is a friend whom she describes as a genius, and whom she believes is well connected to an inner ring of influencers such as founders of ICOs. Researchers found most respondents expressed a desire to make significant amounts of money in their lives, and while some were looking for ways to supplement their income, others had explored a variety of ways to try to get rich quick without having to work. Fomo Most cited FOMO (the Fear of Missing Out) for their reasons to buy cryptocurrencies. One took advice from a taxi driver who said hed put himself through college with the money hed made money by investing. Social media platforms were the most common source of news and information on cryptocurrencies across the sample. However, a large proportion of the respondents did not trust mainstream media and sources of information. Some respondents were suspicious of the mainstream medias agenda and were concerned by fake news, and some didnt have much trust in establishment institutions in general. Despite their losses, most of the respondents decided to hold on to their assets believing they would go up in value again. Marina Titova: How to encourage more women in blockchain By Helen Bennicke March 8, 2019 The post FCA finds people think cryptocurrency is a way to get rich quick appeared first on Coin Rivet . || Ordinary Stablecoin or XRP Killer? What We Know About JPMorgan Chases New Cryptocurrency: On Feb. 14, United States banking behemoth JPMorgan Chase announced its own cryptocurrency . Significantly, it is the first time a major U.S. bank has tapped into digital assets for direct use in business operations. It is fair to say that move comes unexpectedly for JPMorgan Chase, whose CEO, Jamie Dimon , is famous within the crypto community for his anti-Bitcoin ( BTC ) remarks. Here are the main outtakes from reports and comments about the new virtual currency, dubbed JPM Coin. JPM Coin aims to increase settlement efficiency, initially within three of its operations There are three early applications for the JPM Coin, as Umar Farooq, head of the lender's blockchain projects, told CNBC. The first one is cross-border payments for large corporate clients, which currently rely on wire transfers provided by networks like SWIFT , meaning that they might take up to several working days to settle. According to Farooq, payments using JPM Coin will be instantly performed at any time of day. As a result, SWIFT, which currently handles more than half of all high-value, cross-border payments , might be additionally challenged to update its remittance system. The 46-year-old Belgium -based interbank messaging service has already been confronted by Ripple ( XRP ), whose CEO, Brad Garlinghouse, had recently declared that what we are doing on a day-to-day basis is in fact taking over SWIFT. Ripple has reported various advancements on the field of international payments, allegedly saving transaction costs by 40-70 percent with its xRapid platform and adding several major banking institutions to its RippleNet network. SWIFT, in turn, has already started researching blockchain as one of the options to achieve quicker payments. Additionally, it has been boosting its Global Payments Innovation (GPI) payments platform just recently, the banking network launched a proof-of-concept ( PoC ) of a gateway that would allow blockchain software firm R3 to connect to the GPI. Story continues Secondly, JPM Coin will reportedly be used for securities transactions . In April, the bank tested its Quorum Blockchain platform, along with with the National Bank of Canada and other lending sector participants. The intent was to streamline origination, settlement and interest rate payments, among other financial processes. Specifically, as Reuters wrote , the trial mirrored the Canadian banks $150 million offering on the same day of a one-year floating-rate Yankee certificate of deposit. Thus, institutional investors can use the JPM Coin for instant settlements, as opposed to waiting for a wire transfer to come through. JPMorgan Chase created Quorum in 2016 as part of the Ethereum Enterprise Alliance ( EEA ), of which it is one of the founding partners. The platforms runs on the Ethereum ( ETH ) blockchain and is modeled after the Ethereum Go client. It is currently used by pharmaceutical companies Pfizer and Genentech as well as Microsoft Azure, among others. In March, JPMorgan Chase declared that they were considering making Quorum an independent entity as way to attract more partners that could be scared off if they are competitors of the bank. Finally, the new cryptocurrency might be employed by large corporations including Honeywell International and Facebook , which will reportedly use JPMorgan Chase's treasury services business to replace the funds they hold in various subsidiaries across the world. According to CNBC, that businesses brought the lender $9 billion in revenue in 2018. Farooq explained in a comment: "Money sloshes back and forth all over the world in a large enterprise. Is there a way to ensure that a subsidiary can represent cash on the balance sheet without having to actually wire it to the unit? That way, they can consolidate their money and probably get better rates for it." The trials for the token are set to start in a few months. However, only a small amount of the total funds involved in the three aforementioned areas would involve JPM Coin at first. In total, JPMorgan Chase moves more than $6 trillion across the world on a daily basis, according to CNBC. It is the largest bank in the country . As Farooq told: Pretty much every big corporation is our client, and most of the major banks in the world are too. Even if this was limited to JPM clients at the institutional level, it shouldn't hold us back. He also added that, in the future, the lenders token could be used for payments on internet-connected devices if they are migrates to blockchain. Overall, the JPM representative seemed enthusiastic about the technologys perspectives at the bank. So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction.The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions can use this. JPM Coin resembles a stablecoin which falls in line with a general trend According to the CNBC report, JPM Coins are pegged to U.S. dollars so that its value stays stable technically, that makes the new token a stablecoin , at least in its initial form. Clients will reportedly be issued the coins after depositing dollars at JPMorgan Chase. After the tokens are used for a payment or security purchase on the blockchain, the lender will allegedly destroy them and give clients an equivalent amount of fiat in return. Overall, stablecoins had a great year in 2018, becoming a growing trend among the markets most compliance-oriented players. For instance, Goldman Sachs -backed startup Circle launched its USD Coin (USDC) in collaboration with major U.S. crypto exchange Coinbase , and the Winklevoss twins presented their own stablecoin dubbed the Gemini dollar after receiving the regulatory green light from the New York Department of Financial Services ( NYDFS ). JPM Coin will run on Quorum, the banks private ETH blockchain According to an FAQ released by JPM on the same day CNBC broke the news, its token will initially be powered by the aforementioned Quorum blockchain (which is permissioned, or, in other words, private), but will also become applicable to all standard blockchain networks in the future. The JPM Coin will be issued on Quorum Blockchain and subsequently extended to other platforms. JPM Coin will be operable on all standard Blockchain networks, the guide says. Based on that, Jerry Brito, executive director at Coin Center, a nonprofit research and advocacy center focused on cryptocurrencies and blockchain, told MarketWatch that JPM merely launched an in-house payments system rather than an actual cryptocurrency: Theres a lot of confusion. [...] I see folks referring to it as a cryptocurrency. Its not a cryptocurrency. A cryptocurrency is one that is open and permissionless. If you want to download it, you dont need permission, you just need some software. Further, JPM Coin will eventually expand its role beyond being a stablecoin, as per the FAQ: Over time, JPM Coin will be extended to other major currencies. The product and technology capabilities are currency agnostic. As for now, the token is designed to be used by JPMs institutional clients only. The banks CEO, Jamie Dimon, might be anti-Bitcoin, but he is also pro-blockchain JPMorgan Chase became notorious among cryptocurrency participants in 2017, when its CEO, Jamie Dimon, openly called Bitcoin a fraud. In 2018, Dimon reterierted his position by saying that he doesnt really give a s--- about Bitcoin. However, at the 2019 World Economic Forum in Davos , when the JPMorgan Chase CEO was asked if he took any satisfaction when the cryptocurrency plunged last year, he replied negatively and followed with positive comments about the technology that backs it. Specifically, Dimon noted that he is pro-blockchain, despite the excessive hype around the technology. In his view, blockchain is a better replacement for certain online databases: Blockchain is a real technology its just a database we can all access thats kept up-to-date. Indeed, the banking giant has been researching blockchain since 2016 , when Quorums white paper was first published. The announcement has received mixed reaction from the community Changpeng Zhao , the CEO of Binance , greeted the first U.S. banking cryptocurrency, referencing Mahatma Ghandis "first they ignore you, then they laugh at you, then they fight you, then you win alleged quote: First they ..., then they ..., then they..., then you win! Welcome to the real world, JPM! https://t.co/RH7LwWPCSi CZ Binance (@cz_binance) February 14, 2019 Cointelegraph has reached out to Ripple for an additional comment on the matter. In response, the Ripple team sent the link to the tweet of their CEO Brad Garlinghouse, who, in turn, criticized the concept of bank-issued digital coins (which he calls bank coins) and JPM Coin specifically, citing its centralized structure: As predicted, banks are changing their tune on crypto. But this JPM project misses the point introducing a closed network today is like launching AOL after Netscapes IPO. 2 years later, and bank coins still arent the answer https://t.co/39EAiSJwAz https://t.co/e7t7iz7h21 Brad Garlinghouse (@bgarlinghouse) February 14, 2019 Notably, two years ago, Garlinghouse wrote an article in which he argued that such projects where bank remittances are performed using unique digital tokens are misguided and would inevitably result in an even more fragmented currency landscape than what we have today: If banks of different digital asset groups want to settle trades with one another, theyll have to make markets between their unique digital assets or trade between their digital assets and a common fiat currency. What a mess! However, some community members seem more confident about JPM Coin, suggesting that the new token is capable of achieving widespread use, and hence might overtake Ripple in the future. Multicoin Capital partner Tushar Jain wrote : Banks were obviously never going to use XRP for settlements and enrich Ripple Inc (who owns more than half of all XRP). They would rather enrich themselves instead! Kudos to JPM for being first. They are going to wipe the floor with Ripple. https://t.co/Jkfkvr7BnE Tushar Jain (@TusharJain_) February 14, 2019 Bloomberg business editor Joe Weisenthal expressed a somewhat similar viewpoint: If it turns out that the Blockchain/Coin framework turns out to be a good one for banks transferring money around, then the JPM Coin should absolutely obliterate Ripple Joe Weisenthal (@TheStalwart) February 14, 2019 While it might be too early to tell whether JPM Coin will be transferred to public blockchains and gain wider recognition among crypto market participants, some seem perplexed by its current capabilities. Thus, Nathaniel Popper, author of the book Digital Gold, a History of Bitcoin, tweeted : The JPM Coin makes it possible to move dollars between JPMorgan bank accounts instantly. That raises the question: Why was it not already possible to move dollars between two JPMorgan bank accounts instantly? Nathaniel Popper (@nathanielpopper) February 14, 2019 Related Articles: CME Group CEO Terry Duffy: Government Involvement Key to Cryptos Success Ripple CEO Brad Garlinghouse Says JPMorgan Coin Misses the Point of Crypto Crypto Markets See Bullish Growth, Asian Stock Markets Rally Ahead of US-China Trade Talk Hodlers Digest, Feb. 1117: Top Stories, Price Movements, Quotes and FUD of the Week || EUR/USD Daily Price Forecast – The Euro Touches The Three-Week Low Vicinity Ahead Of ECB Chief Praet’s Speech: EUR/USD dropped into the three-week low vicinity reaching 1.1195 level during the Asian session. Below expected economic data reports slumped the pair yesterday which extended until today morning session. However, EUR/USD still managed to bounce back recovering previous losses, after hitting the lowest support level of 1.1195 for last three weeks. Any significant global cue can have a massive impact on the pair making it tumble more during the day. The US Index that computes the greenback against the six major currencies benefitted from the EUR/USD fall in the early hours. The index was 40 pips up during the same period. Release of March CPI by SFSO At the time of writing this article (07:40 GMT), the pair was trading at 1.1199 level. A few moments ago, the Swiss Federal Statistical Office issued the March Consumer Price Index (CPI), both MoM and YoY, for Switzerland. Both the CPIs were more than the market expectation. European Central Bank (ECB) Chief Economist Peter Praet spoke at the 6th international conference at Goethe University in Frankfurt am Main, Germany. His speech comments have not yet made public over the internet. However, the EUR/USD was seen rising during this time frame. In his last speech , he had specified a stable outlook for the Eurozone. He also added that the monetary policy works in full independence, not in isolation. So he says that to see good results (upliftment in the long-term rates) out of the monetary policy measures taken, a contribution from other policy areas is also significant. The US Census Bureau will release the February Nondefense Capital Goods excluding the Aircraft at around 12:30 GMT. The Census Bureau is with the opinion that the defense and aircraft durable products are sensitive towards the US economy as it cost huge investments. The market expects the numbers to come around 0.0 percent as compared to the previous 0.8 percent. Technical Analysis EURUSD 5 Min 2 April 2019 The Simple Moving Average (SMA) for the significant days was above the EUR/USD revealing a bearish stance on the pair’s future movement. The pair can easily break the resistance level of 1.1214 with a little upshot. EUR/USD seems to hover more along the lower portion of the Bollinger Band (BB) which is below the 20 Period SMA center line. The pair had broken the lower BB part quite a few times showing some sell alerts. The Moving Average Divergence Convergence (MACD) showed some trading signals during the Asian session. This article was originally posted on FX Empire More From FXEMPIRE: Commodities Daily Forecast – April 2, 2019 GBP/USD Price Forecast – Brexit Woes On Indecisive UK Lawmakers Keeps Sterling Under Pressure Forex Daily Outlook – April 2, 2019 Natural Gas Price Fundamental Daily Forecast – Mixed Weather, Production Drop Causing Two-Sided Trade The Moving Average Spring Strategy Part II – Webinar April 16 Bitcoin Back in The Limelight as Prices Surge Above $5000 View comments || Coinbase Exchange Users Can Now Withdraw Bitcoin Cash Fork BSV: Coinbase, the largest US-based cryptocurrency exchange, is finally allowing users to withdraw bitcoin Satoshi vision (BSV) – the cryptocurrency created in a hard fork of the bitcoin cash blockchain on Nov. 15.
On that day, bitcoin cash was scheduled to implement upgrades to its blockchain, as it is programmed to do every six months, but contention ultimately led developers and miners toadopt two different incompatible versions of the software: bitcoin cash ABC (BCH) and BSV, which now operate as separate cryptocurrencies with separate values.
Coinbase users who held bitcoin cash in their accounts at the time of the fork were given BSV coins at a 1:1 ratio, and the exchange notified its users today, three months after the fork, that their BSV balances could now be accessed.
Since Coinbase does not support BSV trading at this time, users will need to export their BSV balance to an external wallet if they wish to trade it for another cryptocurrency or for fiat.
In the email, the exchange made note of the circumstances and provided instructions on how to do so:
“Coinbase does not support purchases or sales of BSV, so you cannot sell your BSV for fiat currency on Coinbase. You may send your BSV balance to an external wallet following instructionshere.”
On Nov. 20, Coinbase announced the competing bitcoin cash blockchain called bitcoin cash ABC would retain the BCH ticker and compatibility with Coinbase’s trading infrastructure.
At the time of writing, BSV is trading across exchanges at an average price of $62.58 while its competitor BCH costs nearly twice the price at $120.23, according to pricing data fromCoinDesk.
Disclosure:The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
Coinbase phoneimage via Shutterstock || Jessie Liu's Women Lawyers' Group Opposed Alito—and 5 Other Things to Know: Jessie Liu, U.S. attorney for Washington, D.C., speaking at Main Justice in 2017. (Photo: Bloomberg)Updated at 3:16 p.m.Jessie Liu, the former Big Law white-collar defender turned U.S. attorney for the District of Columbia, will face rising scrutiny in the coming weeks as her nomination for a top U.S. Justice Department post advances in the Senate.President Donald Trump on TuesdaysaidLiu was his pick for associate attorney general, the third-in-command at Main Justice. Liu has served since September 2017 as the U.S. attorney for the District, overseeing more than 300 lawyers in the largest federal prosecution office in the country.Earlier in her career, she was a partner atJenner & Blockfrom 2009 to 2016 and worked for a year atMorrison & Foersterbefore she joined the Trump administration. Liu was a deputy general counsel at the U.S. Treasury Department before she was nominated as Washington's top federal prosecutor. Liu was formerly an assistant U.S. attorney in the District, and she has held posts at Main Justice."Jessie has distinguished herself as a first-class attorney in private practice, in the Treasury Department, and in five different positions over her career at the Department of Justice," U.S. Attorney General William Barr said in a statement. "With her record of public service, particularly in civil justice and federal law enforcement matters, it is clear that she will be an outstanding addition to our leadership team at the Department.”Liu, a Yale Law School graduate andmemberof the conservative Federalist Society since 2001, would succeed Rachel Brand, who left the Justice Department a year ago to become Walmart Inc.'s vice president of global governance and chief legal officer.What follows are six things to know about Liu:>> Liu formerly was vice president of the National Association of Women Lawyers, serving in that post from 2005 to 2006.The group, founded in 1899, advocates for women in the law. "I am an Asian-American woman lawyer, in a field—criminal prosecution—with fewer Asians than many other fields of law," Liu oncewrotein a column that praised the group for its support for diversity. The lawyers' group in 2005 honored Liu with a public-service award. One of the association's committees in 2006evaluatedSamuel Alito Jr.'s nomination to the U.S. Supreme Court and rated him "not qualified from a women's rights perspective." Alito, the committee said in a statement then, "has shown a disinclination to protect or advance women's rights." The committee said one of its primary concerns was "Alito's stance on women's reproductive rights" and that Alito would be replacing Sandra Day O'Connor, "who has been a decisive vote in a number of cases involving the rights of women and laws that have special impact on women." The evaluation committee, selected by the president of the lawyers' group, included law professors, appellate lawyers and litigators. A Justice Department spokesperson said Wednesday afternoon that Liu was not on the committee that evaluated Alito and she did not have any role in the evaluation. As associate attorney general, Liu wouldoverseethe civil division, the largest litigating component at the Justice Department. Liu would also be in charge of the tax, civil rights and antitrust divisions.
Justice Samuel Alito Jr. Credit: Diego M. Radzinschi / ALM>> Liumoderateda panel in 2005 featuring Justices Ruth Bader Ginsburg and Sandra Day O'Connor,and veteran appellate advocatesMichael Dreeben, Beth Brinkmann and Maureen Mahoney. Dreeben is a top criminal-law specialist now serving on Special Counsel Robert Mueller's prosecution team, Brinkmann is a partner atCovington & Burlingand Mahoney is a partner atLatham & Watkins. The panelists, according to a promotional blurb, were set to "discuss how they prepare for and conduct oral argument before the highest court in the land." Liu has not argued at the Supreme Court. But she has appeared on amicus briefs and other filings at the high court. In 2015, Liu was on the Jenner & Block teamrepresentingthe U.S. Chamber of Commerce as a friend-of-the-court. The Jenner lawyers urged the court to reject broad police powers to seize business records.>> Liusaidshe met personally with President Trump in 2017 as part of her U.S. attorney nomination process,and that meeting can be expected to be in the spotlight during her confirmation hearing for associate attorney general. Former Justice Department officials questioned the propriety of a U.S. attorney candidate meeting personally with a president. “It is neither normal nor advisable for Trump to personally interview candidates for US Attorney positions," former Manhattan U.S. attorney Preet Bharara said in a tweet in 2017. Trump also met withGeoffrey Berman, the formerGreenberg Traurigpartner who is leading the U.S. attorney's office for the Southern District of New York. Berman has recused himself from participating in certain investigations, including the prosecution of Michael Cohen, a former lawyer for Trump. "No one has asked me to commit that I will be loyal to the President or the Attorney General, and I have not made such a commitment. If confirmed, my sole loyalty will be to the Constitution and to the people of the United States and the District of Columbia," Liu told U.S. Senators at the time of her nomination as U.S. attorney. Liu said she first got a call in March 2017 "from the Department of Justice inviting me to interview for the position of United States Attorney for the District of Columbia." She did not say whether she had sought the position, or whether the Trump administration pursued her. Liu was an uncompensated adviser on the Trump transition team, focusing on the Justice Department from September 2016 to January 2017. Liu donated $2,700 to U.S. Sen. Marco Rubio's failed presidential bid, federal records show. She did not donate to Trump's campaign.
>> Liu reported receiving $896,000 in partner income from Morrison & Foerster onthe financial disclosureshe filed in May 2017.The amount would have included legal services she provided in 2016. Liu's clients in private practice included Goldman Sachs & Co., Chevron Corp., Accenture, General Motors Co. and Booz Allen Hamilton. Liu declined to disclose five individual clients whom she said were subjects of non-public investigations. Liu in 2017 sold bitcoin holdings at Coinbase valued at between $1,000 and $15,000, according to her financial disclosure. At the time, Liu was a Treasury lawyer, and her role there might have involved regulatory and enforcement issues associated with cryptocurrency. Last year, Liu reported on aannual financial disclosurethat Jenner & Block had returned to her $440,837 in capital. Liu's husband, Michael Abramowicz, teaches at the George Washington University School of Law.>> White-collar lawyers take note: Liu haswrittenextensively on the False Claims Act and the Foreign Corrupt Practices act,two areas of the law that are significant penalty-drivers for Main Justice—and long the bane of defense lawyers. In 2015, as a partner at Jenner & Block, Liu was a lead attorney on areporthighlighting Justice Department and Securities and Exchange Commission enforcement of the foreign-bribery law. “While 2014 reinforced that the DOJ and the SEC will continue to reward cooperation and self-disclosure with reduced penalties, last year’s enforcement actions also show that the DOJ and the SEC’s cooperation expectations may be quite high,” the report stated. The Justice Department is currentlyassessingwhether to issue guidance concerning its approach to giving cooperation credit in False Claims Act cases, which last year netted more than $2 billion in penalties for the government. As the U.S. attorney in Washington, Liu celebrated the Justice Department’s enforcement of the federal law prohibiting fraud against the government. Announcing a multimillion-dollar judgment against three individuals found guilty of paying kickbacks and causing laboratories to bill federal health programs for unnecessary tests, Liusaid, “This office joins with its Department of Justice colleagues in our mutual commitment to investigate misconduct and recover funds unlawfully obtained from federal healthcare programs.”>> Liu clerked in Houston for Carolyn Dineen King, a former chief judge of the United States Court of Appeals for the Fifth Circuit.King was appointed by then-President Jimmy Carter. Liu graduated from Yale Law School in 1998. Some of her law school classmates included U.S. District Judge Jesse Furman in New York; Gina Raimondo, the Rhode Island governor; Justice Goodwin Liu of the California Supreme Court; and Judge Andrea Wood on the Northern District of Illinois. Jessie Liu holds an undergraduate degree from Harvard College, from which she graduated in 1995.
William Barr Fills Front Office With Trump White House LawyersWhat 11 Ex-Big Law Partners' Financial Disclosures Revealed in 2018What's in Geoffrey Berman's US Attorney Financial Disclosure? Now We Know.Why the Treasury Department's Top Lawyer Sold Off His Bitcoin HoldingsRachel Brand, DOJ's No. 3, Leaves for Walmart Top Legal Post
This post was updated with comment from the Justice Department. || Blockstream Releases Upgrade of Its Bitcoin Lightning Network Implementation: Blockchain development companyBlockstreamhas released a new version of its Bitcoin (BTC)scalabilitysoftware, c-lightning, a post on the company’s blogrevealson March 1.
C-lightning is an implementation of the off-chain Bitcoin scalability solution, the Lightning Network (LN), that is written in the C programming language. Per the announcement, this latest version, c-lightning 0.7, is the first major release in 8 months and brings performance enhancements, bug fixes, augmented privacy and new features, as well asimproved documentation.
The main new feature is plugin supports, which allow developers to extend the capabilities of the software with plugins written in any programming language. The developers hope that this will contribute to the flexibility, extensibility and customizability of this LN implementation.
Last week, Blockstream co-founder and CEOAdam Backparticipatedin the LN-based Lightning Torch Bitcoin relay. He then passed the Torch on to formerPayPalCOO and early Blockstream supporter, Reid Hoffman.
As Cointelegraphreportedin January, blockchain technology firmBitfuryGroup has released a series of new tools for merchants and developers in a bid to drive wider adoption of the LN.
Data provided by a BTC statistics websiterevealedthat the capacity of the Bitcoin Lightning Network has surpassed $2 million in December of last year.
Also in December, an R&D lab at crypto startup TenXtestedthe use of its cross-blockchain interoperability protocol to exchange Ethereum’s (ETH) ERC20 protocol tokens for Bitcoin using the Lightning Network.
• Ex-PayPal COO Hails Bitcoin ‘Acceleration’ as He Joins Lightning Torch Relay
• Derivatives Giant Fidelity Investments Receives and Passes on the Lightning Torch
• Crypto Markets See Major Losses, While Stocks Rise as US-China Talks Expected to End
• Major US Retailer Kroger Drops Visa, Morgan Creek Digital Suggests Lightning Network || Bitcoin Mining Giant Bitmain Launches New Chip, Hints at New Miners: Bitmain has announced the BM1397, a new, more efficient cryptocurrency mining chip. The chip sports a 28% power efficiency improvement over its predecessor. The news brought with a mention of upcoming S17 and T17 models, about which very little other information is available.
Accordingto a press release, the chip uses just 30 joules per terrahash. This means that as much as 33 terrahash can be powered by just 1 kilowatt of power. If an existing mining outfit were to simply replace its existing hashpower with the newer models (once they’re available), the power savings would be immediate.
However, the new models are likely to be even more powerful in terms of terrahash capability than existing models. You’ll be getting more crypto-mining power but paying for the same amount (or more) electricity.
Manufactured by Taiwan Semiconductor Manufacturing Company, whohad a poor earnings callwhich they blamed on the downturn in the crypto market, the 7-nanometer chip demonstrates that despite its other problems, Bitmain is still passably working on its core business.
Read the full story onCCN.com. || Australia: Financial Regulator Suspends Two Crypto Exchanges in Drug Trafficking Case: TheAustraliananti-money laundering watchdog has suspended the registrations of twocryptocurrency exchangesin connection with a drug trafficking case, the agency announced in apress releaseon Friday, March 8.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) — a government financial intelligence agency that aims to prevent money laundering, tax evasion, welfare fraud and terrorism — suspended the two crypto exchanges’ operations because of their association with a suspect in an alleged organized crime syndicate.
According to the joint press release from AUSTRAC and the Australian Federal Police, a 27-year-old man has been arrested on several drug trafficking-related charges. The investigation found that the accused man “was a key member” of the crypto exchange businesses, leading the watchdog to suspend their operations.
According toReuters, the move is the first crypto exchange suspension under AUSTRAC’s authority, since new legislation last year brought crypto exchanges within its sphere of oversight.
The number ofcryptocurrency-relatedfraudand crimes has dramatically increased worldwide. As previouslyreported, about $1.7 billion in cryptocurrency had been obtained via illicit means in 2018, according to research published by crypto analytics company CipherTrace.
Previously, theUnited KingdomFinancial Conduct Authority had revealed thatinvestmentscamsrelated to crypto led to over $255 million in investor losses in 2018, with approximately 5,000 reported cases, as Cointelegraphwroteon Feb. 6.
As Cointelegraphreportedjust yesterday, theSouth KoreanSupreme Prosecutors' Office established a new task force, aimed at fighting cryptocurrency-related scams. The number of such crimes in the country has reportedly increased from 53 registered cases in 2016 to 4,591 in 2018.
• South Korea Establishes Special Task Force to Prevent Cryptocurrency-Related Crimes
• Bitcoin Private Team Accuses Crypto Exchange HitBTC of Fraud After Delisting
• Swiss Crypto Bank Warns Customers About Company Masquerading as Partner
• Japan: Reported Cases of Crypto-Related Money Laundering Increase 10-Fold in 2018 || This Magazine Ranked Ethereum the 2nd-Best Blockchain Protocol. Bitcoin Didn’t Make the List: Thelatest issueof Rising Blockchain magazine lists the top 10 blockchain protocols, in their opinion. The list doesn’t include Bitcoin.
The 10 chains/protocols listed are those the editors believe “bring the change to the world in 2019 faster than other protocols.” At the top of the list is the Graphene Protocol, on which EOS, Steem, and Bitshares are built.
The ratings don’t include much in the way of colorful explanations. Speaking of EOS, the magazine mentions that EOS has a transaction reversal mechanismvia the “Arbitration Court” concept.BitShares is listed before Steem, although Steem has arguably on-boarded more users than most platforms one can name.
BitShares, on the other hand, had a very rough year in 2018. BitUSDlost its dollar pegin a big way, for starters. Overall, BitShares has less than a quarter billion invested in it. Compared to EOS, BitShares almost shouldn’t be on the “top 10” list at all.
Read the full story onCCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
Register now to be updated on the current price.
Coin price: 1.00 $
Coin price: YGC Minimum Purchase
Per Person: 100$
Total number of coins: 1,000,000,000
Link for registration :https://yellowgoldcompany.io/register/index/OEdVVjJHSEhvZWtLWG4vK2pCcmNDcm1udlNYNERBOTI0RjNFSk8vUjhx … #invest #ICO #coinmaster #coinbase #bitcoin #investors #blockchain #GOLDpic.twitter.com/hOzu1ugeCU || Bitcoin - BTC
Price: $3,660.90
Change in 1h: +0.15%
Market cap: $64,168,514,417.00
Ranking: 1
#Bitcoin #BTC || #CryptoCotización
Precios actualizados a las 00:01:20.
#bitcoin #ethereum #ripple #bitcoincash #litecoin #eos #neo #crypto #criptomonedaspic.twitter.com/fkOfHvtTK4 || 03-20 14:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000018
HitBTC :0.00000019
LiveCoin:0.00000016
$SPD (JPY)
Yobit :0.08
HitBTC :0.08
LiveCoin:0.07 || #cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 2.58 % || 08-03-2019 00:00
Price in #USD : 0.0512319467 || Price in #EUR : 0.0457673424
New Price in #Bitcoin #BTC : 0.00001309 || #Coin Rank 733 || #BTCUSD Market #1H timeframe on March 15 at 06:00 (UTC) is #Bullish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || 「新規登録⇒コード⇒ feb4ce 」入力だけで20,000satoshi貰えるのは【あと 3 日】(2018/03/12 12:00) https://www.tadacoin.jp?refer=8jk-sAZbfJhNfiAgxI3lmQ&message_id=551tadacoin.jp/?refer=8jk-sAZ … #Tadacoin #タダコイン #Bitcoin #Faucet #お小遣い #副業 #懸賞 #ポイントサイト #ポイ活 @tadacoinさんから || Top 5 #cryptocurrencies
Alert Time: 2019-02-26 11:00:44
#Bitcoin: $3,997.81768
#Ethereum: $148.59735
#XRP: $0.33276
#EOS: $3.89316
#Litecoin: $51.87316
#BigData #neo #zcash #er20https://bitutm.com || 2回目いくよー😶
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Trend: up || Prices: 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72
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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)]
Binance Clarifies What Caused Earlier Bitcoin Withdrawal Issues: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Cryptocurrency exchange Binance explained what caused the temporary withdrawal issues involving bitcoin on Monday in a series of tweets, saying they stemmed from repairs it was doing to address small hardware failures. Binance wrote that it was repairing several minor hardware failures on wallet consolidation nodes earlier today, which caused the earlier transactions that were pending to be broadcast to the network after the nodes were repaired. The company said that these pending consolidation transactions had a low gas fee, which resulted in the later withdrawal transactions which were pointing to the pending consolidation UTXO - getting stuck and not able to be processed successfully. (UTXO refers to unspent transaction output .) In order to fix these issues, Binance said it had to change the logic to only take successful UTXO from consolidation transactions or successful withdrawal transactions. This fix will also prevent the same issue from happening again. Binance CEO Changpeng Zhao initially said the problem was expected to be fixed in 30 minutes, but Binance said it actually took three hours to address. The company emphasized that users could still withdraw bitcoin on other networks, and that deposits were unaffected. Binances explanation may soothe worries after crypto-lending network Celsius announced Sunday night it would pause withdrawals, citing "extreme market conditions." UPDATE (June 14 00:38 UTC): Added comments from Zhao in fourth bullet point. || 9 Best Index Funds to Buy and Hold: Though normal circumstances dictate that wagering on individual stocks provides the best chance for maximum upside potential, the post-pandemic realities suggest that the best index funds to buy may represent the most appropriate choice forward. Primarily, this thesis comes down to diversification. With so many ways for the capital markets and the global economy to go wrong, you want to paint with the broadest canvas possible. Furthermore, this diversification principle doesnt just benefit from the wide number of companies to which a fund is exposed to. Rather, should certain names not perform as anticipated, the other companies on the list could potentially help pick up the slack. Since its extraordinarily difficult to know which individual name has the right stuff in this environment, the best index funds to buy provide some much-needed confidence. Finally, holding viable funds can be an efficient way to steadily grow your wealth. Many of the best index funds to buy also feature low expense ratios or the cost associated with holding a fund for a period of one year. Along with their wide range and relatively safe profile though, nothing is 100% safe in the capital markets index funds may be no-brainers at this juncture. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Top-Rated Large-Cap Stocks to Buy and Hold So, lets dive in and take a closer look at nine index funds for investors to take a closer look at. Ticker Fund Name Price SPY SPDR S&P 500 ETF Trust $389.80 FNILX Fidelity ZERO Large Cap Index $14.14 SCHM Schwab U.S. Mid-Cap ETF $66.55 VIMAX Vanguard Mid-Cap Index Fund $263.61 FSSNX Fidelity Small Cap Index $22.86 NSIDX Northern Small Cap Index $12.90 VDE Vanguard Energy ETF $123.86 CNRG SPDR Kensho Clean Power ETF $82.98 VICEX USA Mutuals Vice Fund $23.96 Best Index Funds: SPDR S&P 500 ETF Trust (SPY) A person holds a phone with a stock chart visible on it with another chart visible on a computer nearby. Source: Bro Crock / Shutterstock.com The classic exchange-traded fund, the SPDR S&P 500 ETF Trust (NYSEARCA: SPY ) is a great place to start for investors seeking to navigate the current treacherous waters. True, the SPY ETF attempts to track the performance of the S&P 500 index, which to be frank isnt doing too well. On a year-to-date (YTD) basis through the June 6 session, the S&P 500 is down 14%. Story continues However, with the U.S. being the worlds biggest economy along with leveraging the worlds reserve currency, its honestly the market to bet on for the long run. Featuring an average volume of 101.3 million units, exposure to the SPY is a no-brainer for patient investors, thus making it one of the best index funds to buy. Fidelity ZERO Large Cap Index (FNILX) Fidelity sign Source: Jonathan Weiss / Shutterstock.com A mutual fund that tracks the performance of some of the biggest stocks in the market, Fidelity ZERO Large Cap Index (MUTF: FNILX ) gets its name because of its cost structure. Featuring a total absence of an expense ratio, Fidelity ZERO is one of the most efficient ways to gain exposure to a basket of industry stalwarts. As of April 30, 2022, FNILX focuses the most on the information technology sector, representing 28.45% of portfolio weight . Next up is healthcare, featuring a 14.1% allocation followed by the consumer discretionary sector at 11.15%. 7 Great Dividend Stocks Under $25 To be fair, Fidelity ZERO is down almost 15% due to exposure to struggling technology firms. However, for long-term investors, FNILX may be an attractive discount. Best Index Funds: Schwab U.S. Mid-Cap ETF (SCHM) charles schwab sign outside of a building Source: Isabelle OHara / Shutterstock.com While large capitalization firms will always attract the most headlines, many investors prefer the balanced approach of mid-cap companies. Benefiting from a mixture of upside growth potential and the stability associated with big businesses, the Schwab U.S. Mid-Cap ETF (NYSEARCA: SCHM ) is ideal for those who may have a conservative investment profile but still want some spice to shore up returns. Better yet, with the SCHM fund, you can enjoy exposure to mid-cap names very cheaply as it has an expense ratio of only 0.04% . In contrast, the category average is 0.39%. Interestingly, Schwab U.S. Mid-Cap ETF features some independent oil and gas companies, which may help bolster performance down the line. Vanguard Mid-Cap Index Fund (VIMAX) vanguard website displayed on a mobile phone screen representing vanguard etfs Source: Shutterstock Another low-cost option for exposure to mid-cap companies, Vanguard Mid-Cap Index Fund (MUTF: VIMAX ) is one of the best index funds to buy for diversification at a very low cost. With an expense ratio of 0.05%, it more than beats out the category average of 1.03% . As of May 18, 2022, VIMAX has assets totaling almost $49.65 billion invested in 382 different holdings. Currently, the fund is most focused on the technology sector with a 20.2% portfolio weight. Coming in second place is financial services at 11.35%, followed very closely by industrials at 11.29%. 7 Stocks Under $50 to Buy and Hold Forever However, with an eclectic mix of companies ranging from software to petroleum to retirement care services, VIMAX is well prepared to handle whichever direction the market moves. Best Index Funds: Fidelity Small Cap Index (FSSNX) Fidelity sign Source: Jonathan Weiss / Shutterstock.com Generally speaking, financial advisors will recommend their clients focus on well-established businesses. While they might not be the most exciting options for growing your money, theyre also the least likely to lose it. However, intrepid investors can still leverage the benefits of the best index funds to buy while dipping into speculative fare. One example is Fidelity Small Cap Index (MUTF: FSSNX ). Enjoying a net expense ratio of only 0.03%, Fidelity Small Cap carries a significant advantage over the competition, with the category average being 1.04%. While it might be focused on speculative ideas for instance, a certain cineplex operator that shall not be named FSSNX is well diversified. Its top holdings in the healthcare sector with a portfolio weighting of 15.5%, followed closely by financial services at 15.5% and industrials at 15.2%. Northern Small Cap Index (NSIDX) Small cap displayed on a Wall Street ticker board. Small cap stocks. Small-cap stocks. Source: iQoncept / Shutterstock Another way to exercise your speculative juices without being forced to sign divorce papers, the Northern Small Cap Index (MUTF: NSIDX ) is one of the best index funds to buy for those folks who like to jump out of airplanes but with a parachute and a reserve chute if the primary fails. As with most of the ideas on this list, NSIDX is relatively cheap to own, featuring a net expense ratio of 0.15% . Compare that to the category average of 1.04%. Interestingly, Northern Small Cap is similarly diversified as Fidelity Small Cap above. Northerns top sector is healthcare with a 16.5% portfolio weighting, followed by industrials (15.3%) and financial services (14.6%). 7 Blue-Chip Stocks to Buy Now if You Have $250 to Spend Finally, Northern is really aiming to knock one out of the park, featuring exposure to meme stocks and one rental car service firm. Best Index Funds: Vanguard Energy ETF (VDE) ETF Investment index funds concept with letter wooden blocks and lots of different currencies, ETFs to buy Source: Eviart / Shutterstock.com One of the best index funds to buy based on sheer performance metrics, the Vanguard Energy ETF (NYSEARCA: VDE ) is kicking the proverbial hind end and taking names. Since the start of the year, VDE is up a staggering 61%. Thats not surprising given that the underlying energy market has received a shot of relevance. But can this upswing last? According to experts, yes. Because the crude oil market suffered a catastrophic loss in the spring of 2020, producers are not exactly in a hurry to overextend themselves, understanding perhaps that recession fears are serious. Therefore, its not just about inflation out will likely remain challenged as producers are still gun shy. Also noteworthy is that VDE features an expense ratio of 0.10% , far lower than the category average of 0.43%. Technically, then, its a relatively cheap way to play the energy sector. SPDR Kensho Clean Power ETF (CNRG) close-up of the phrase "exchange traded fund" on three colorful papers pinned to a wall by colorful pushpins Source: shutterstock.com/bangoland Although the hydrocarbon market has been going bonkers this year, a growing number of investors are concerned about feeding the fossil fuel industry with their money. Others might not have an objection to the segment but still prefer arenas that are tied to future development. After all, at some point, big oil giants may lose significant ground. To meet these and other concerns, investors have the option of going with SPDR Kensho Clean Power ETF (NYSEARCA: CNRG ), one of the best index funds to buy for the potential future of energy infrastructures. Tied to a variety of wind, solar and even geothermal energy companies, SPDR Kensho is the way to go if you prefer clean and sustainable but are not sure which individual stocks to pick. 7 Stocks That Look Like Big Bargains Right Now While intriguing, prospective buyers should be aware that CNRG has an expense ratio of 0.45% , which is higher than the category average of 0.43%. Best Index Funds: USA Mutuals Vice Fund (VICEX) A jar of coins with a sign that says mutual fund Source: shutterstock While arguably few people will publicly admit to thinking cynically, if a recession happens, certain events will likely rise to the forefront. In particular, vice behaviors may escalate. For example, evidence indicates that following the Great Recession, alcohol sales increased conspicuously, implying that certain vice-oriented companies might perform well in a downturn. So, if youre looking for the best mutual funds tied to this subsegment, USA Mutuals Vice Fund (MUTF: VICEX ) might be something of interest. Among its top holdings are alcohol and tobacco firms which may enjoy rising demand should hard times hit. As well, USA Mutuals Vice features a number of defense contractors, which obviously has implications for the ongoing military conflict in eastern Europe. However, theres a price to be paid for this much fun and that is its expense ratio of 1.59% , whereas the category average is 0.98%. On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS It doesnt matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 Forever Battery Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 9 Best Index Funds to Buy and Hold appeared first on InvestorPlace . || First Mover Asia: Crypto Carbon Trading Is Racing to Clean Up Its Act; Cryptos Drop Even as Stocks Rise: 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. Here’s what’s happening:
Prices:Bitcoin falls slightly, altcoins fare worse even as stocks rise.
Insights:Crypto carbon trading firms are looking to address problems that have plagued them.
Technician's take:BTC remains in a choppy trading range with limited upside.
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):$29,134 -1.6%
Ether (ETH):$1,784 -8.4%
There are no gainers in CoinDesk 20 today.
[{"Asset": "Cosmos", "Ticker": "ATOM", "Returns": "\u221210.1%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "\u22129.1%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "\u22127.5%", "DACS Sector": "Smart Contract Platform"}]
Bitcoin falls slightly, altcoins fare worse even as stocks rise
Most major cryptocurrencies tumbled even as stock prices rose in Thursday trading.
Bitcoin was recently trading at about $29,100, roughly flat over the previous 24 hours after the largest cryptocurrency by market capitalization dropped well below $29,000 earlier in the day. Ether was off more than 8% over the same period and changing hands below $1,800. The second-largest crypto by market cap has hovered above $1,900 for much of the past three weeks.
Other altcoins spent most of their Thursday day solidly in the red with SOL, CRO and APE each off at least 11% at certain points as investors continued their recent preference for BTC, considered the least risky of digital assets, amid ongoing concerns about high inflation and an economic downturn. Bitcoin's market cap has recently spiked relative to other cryptocurrencies.
"It's not surprise to me that people are pulling back from crypto," JJ Kinahan, vice president and chief market strategist for trading platform Tastytrade, told CoinDesk TV's "First Mover" program. "Bitcoin, probably the one [cryptocurrency] being the most established name among retail investors is the one that people trust to hold up."
The Dow Jones Industrial Average of blue chip stocks has had at least some reason to crow lately, rising for a fifth consecutive day. Other indexs also soared as three major retail chains, Macy's (M), Dollar General (DG) and Dollar Tree (DLTR), reported favorable earnings, suggesting at least temporarily that consumers weren't done shopping. Retail sales helped fuel the U.S. economic rebound that began slowing in recent months.
The tech-focused Nasdaq increased a strong 2.6% with Tesla (TSLA) and Amazon (AMZN) among the winners, and the S&P 500, climbed nearly 2% just two days after hitting bear market territory, a designation reached when an equities index plunges 20% from its most recent high.
Still, other recent news offered stark reminders of the global economy's shaky balance. In China, President Xi Jinping said the country's economy was doing worse in some ways than during the earlier stages of the COVID-19 pandemic. A government lockdown has slowed China's growth and boosted unemployment rates. Investment giant Sequoia Capital offered a downbeat assessment of economic conditions and encouraged the early-stage companies it has financed to focus on cutting costs and increasing profitability.
Crypto investors are likely to remain spooked by economic conditions and geopolitical turmoil, a number of analysts said. The Fear and Greed index rose slightly by early Thursday and remains in "extreme fear" territory, while the total market capitalization of the crypto market has declined.
"That the S&P is trying to break 4,000 while bitcoin's trying to break $30,000 are both very important points, very correlated as to the confidence in the market and in bitcoin and assets overall," Tastytrade's Kinahan said.
S&P 500: 4,057 +1.9%
DJIA: 32,637 +1.6%
Nasdaq: 11,740 +2.6%
Gold: $1,850 -0.1%
Crypto carbon credit protocols look to improve
Like all things crypto, blockchain-based carbon credit protocols have had a tough go of it during the last quarter. They have been subject to the same market pressure as the rest of the industry, which is struggling to regain its footing since theTerra collapse.
But the sector’s challenges are not just to do with market dynamics. It’s also facing an internal reckoning after questions emerged about the quality of the credits being traded inside the base carbon tokens (BCT) issued on the Toucan protocol, which led Verra, a hybrid standards agency and registry responsible for carbon credits, to take a hard look at the practice.
In April, researchers at Carbon Plan, a California-based climate data non-profit, published a paper titled “Zombies on the Blockchain,” which outlined how approximately 28% of the Verified Carbon Units (VCU) traded in BCTs on the Toucan Protocol and via carbon trading KlimaDao were from “zombie projects.”
“Toucan appears to be generating entirely new demand for long-neglected credits that have experienced little or no demand in recent years,” the researchers wrote. “When the crypto market places higher value on BCTs and KLIMA tokens, these products can bring formerly defunct offset projects back to life.”
CarbonPlan highlights in its post that carbon credits under Article 6 of the Paris Agreement prohibit the trading of credits from carbon offset projects registered before Jan. 1, 2013. Yet, these older projects are being actively traded on the Toucan protocol and were still being tokenized as late as November 2021.
“Rather than eliminate supply from the voluntary market, however, zombie projects show that BCTs are bringing new supplies into existence – not in the form of new projects, but of old credits that weren’t previously able to find any buyers,” CarbonPlan’s researchers wrote. “Thanks to demand from blockchain buyers, however, these low-quality credits found new life.”
Aside from the issue of “zombie projects,” the other problem with these projects is structural. The industry has been commodifying what’s called “retired” credits.
When firms want to offset their emissions, they use this process to purchase credits and retire them from the market. In turn, they get a receipt that makes the basis of their published carbon offset and BCT tokens.
In an interview with S&P Global, Robin Vix, Verra’s chief legal, policy and markets officer, called this entire process “mind frying” as the company plans to disconnect the Toucan protocol from buying retired credits.
"Verra will, effective immediately, prohibit the practice of creating instruments or tokens based on retired credits on the basis that the act of retirement is widely understood to refer to the consumption of the credit's environmental benefit," Verra's statement said.
Vix said to S&P Global that Verra will start scrutinizing stakeholders' requests for retired carbon credits and block anything it suspects of being associated with tokenization.
“Carbon credits themselves are abstract intangible things based on counterfactuals of things that you can't actually see – emissions. And then crypto is another layer of abstraction on top of that,” Vix said.
But all this isn’t to say that Verra is entirely opposed to the tokenization and trading of carbon credits or that Toucan is not cognizant of the structural flaws of the arrangement.
Verra said that it is exploring ways to "immobilize" current – not retired – carbon credits so they can be bridged over to Toucan or other exchanges to trade.
"The initial thinking is that the best way of doing this is if these tokens somehow tie back to live, unretired credits so that the environmental benefit hasn't yet been used," Rix said to S&P Global. "In other words, if you're acquiring tokens or coins, you always know that the underlying [offset] is there."
In an interview with CoinDesk, Rob Schmitt, one of Toucan’s core developers, emphasized that this isn’t about Verra blocking tokenization; rather, Verra just wants to make the process better.
Schmitt said that bridging and trading retired carbon credits weren’t ideal but just a first step. Once Verra introduces the ability to immobilize credits it would mean that credits could be sent bi-directionally from Toucan back off-chain, creating price parity.
“This will be very positive for the on-chain markets,” he said. “
Schmitt is also aware of Carbon Plan’s paper on zombies.He points to a postfrom Toucan called "Raising Standards in the On-Chain Carbon Market" that outlines the protocol’s filtering plan to only offer credits less than 10 years old.
“The obsession over age isn’t necessarily what’s correct here … if you took a climate action one year, it’s the same action the next. It’s not going to be different,” he said. “The issue with these credits is it's questionable whether these projects needed the funding from carbon credits to get going.
“But it’s an issue we inherited from Vera.”
Bitcoin Pares Earlier Losses; Resistance at $33K
Bitcoin (BTC) recovered from a low of around $28,000 earlier in the New York trading day. The cryptocurrency remains in a tight trading range, anchored at the $30,000 price level over the past two weeks.
BTC was roughly flat over the past 24 hours, and down by 2% over the past week.
The relative strength index (RSI) on the daily chart is rising fromoversoldlevels, although it remains below the 50 neutral mark. A reading above 50 could indicate a brief recovery phase.
For now, there is strongresistanceon the chart, initially at $33,000 and then at $35,000, which could stall an upswing in price. Momentum will need to improve on the weekly and monthly charts in order to sustain a price rise.
Most indicators are neutral over the short term and bearish over the long term, which means upside is limited from here.
Blockchain & Sustainable Economic Growth conference
World Economic Forum Annual Meeting
6:35 p.m. HKT/SGT(11:35 a.m. UTC): Speech by Richard Lane, executive board member of the European Central Bank
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
Ether, DeFi Under Pressure, Fmr Binance Exec on Launching Crypto Fund Amid Market Downturn
JJ Kinahan of Tastytrade joins "First Mover" to provide his crypto markets analysis as investors brace for more pain amid Fed rate hike pressure. Former Binance executive and co-founder of a new crypto fund Old Fashion Research Ling Zhang explains how the firm plans to spur crypto adoption in emerging markets. Plus, Chris Blec shares insights into the state of decentralized finance (DeFi) projects after the LUNA abd UST collapse.
After Armstrong Tweet, India's Crypto Policy Body Says No Contempt of Court Challenge vs. RBI:The Coinbase CEO last month suggested the RBI's "shadow ban" of crypto exchanges violated a Supreme Court ruling.
Former Binance Execs Create $100M Fund to Spur Crypto Adoption in Emerging Markets:Old Fashion Research was formed by Ling Zhang and Wayne Fu, previously Binance's vice president of M&A and head of corporate development respectively.
Christine Lagarde Defends Massive ECB Interventions, Says Her Son Trades Crypto:The ECB president appeared on Dutch talk show "College Tour" last weekend.
Solana, Dogecoin Tokens Dip as Futures Suggests Bearish Sentiment:Choppy trading in broader markets failed to temper a gradual dip in major cryptocurrencies, with some sliding as much as 8% in the past 24 hours.
Circle Asks US Fed Not to Step on Its Toes by Launching a Digital Dollar:The public is already served well by private-sector tokens, the USDC stablecoin issuer said in a comment letter to the central bank.
Will Reality Have Its Revenge on Andreessen Horowitz's Giant New Crypto Fund?:In an era of rising interest rates, personality and charm should take a back seat to results. But Andreessen Horowitz is rolling the dice on charisma one more time.
Today's crypto explainer:What Is Bitcoin?
Other voices:Bitcoin is imploding. But you wouldn't know it from checking out Formula 1 races(CNN)
"Some traditional internet business models, like advertising, are likely to persist in the metaverse. However, with blockchain-adjacent technologies such as decentralized identity and zero-knowledge proofs (ZKP), one’s privacy can actually be preserved in the metaverse, if we construct the foundations just right. Nonetheless, leveraging these kinds of privacy and identity technologies, especially ZKPs, may come with the additional hurdle of poorer latency [because] the zero-knowledge proof itself can be computationally expensive to perform." (CoinDesk columnist Daniel Kuhn) ... "And yet, even if met with dogma or incredulity, innovation is rarely curtailed. The truth gets out. And so too will this happen with the metaverse, the latest technology declared dead on arrival." (WeMeta co-founder Winston Robson, for CoinDesk) ... "International trade has undoubtedly brought great prosperity but we must recognize that our economic choices have consequences for our security," the former Norwegian prime minister told people gathered at the event ... Freedom is more important than free trade. The protection of our values is more important than profit." (Secretary General Jens Stoltenberg at the World Economic Forum) || OpenSea Reports Email Data Breach: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Watch out for phishing emails, says OpenSea, after staff at the world’s largest non-fungible token (NFT) marketplace discovered that an employee of Customer.io , a platform for managing email newsletters and campaigns, leaked the list of OpenSea customers’ emails to an outside party. Email newsletter management platforms and Customer Relationship Management (CRM) software appear to be a weak spot for crypto firms as leaks of this data continue to happen at a high frequency. In March, Hubspot, a platform similar to Customer.io , was hacked, affecting BlockFi, Swan Bitcoin, NYDIG and Circle. Users of these platforms had their names, phone numbers and email addresses leaked to an outside party. OpenSea said malicious actors may try to contact OpenSea customers via emails from domains that look similar to OpenSea.io such as OpenSea.org or OpenSea.xyz On Twitter , OpenSea customers are complaining of an uptick in spam emails, calls and text messages. || TikToker shows how easy it is for employers to ‘spy’ on you during the work day: ‘Tell me that’s not creepy’: A new viral video has TikTokers checking their work computer for monitoring software. The clip comes from a user named Jennifer Brick ( @jenniferbrick ), who runs a channel dedicated to career tips and advice. On May 24, Brick uploaded a video showing how simple it is for employers to spy on their employees’ workday activities. Bitcoin ETFs: What are they and how to invest in them? Her video shows how easily companies can implement tracking software that monitors productivity, time management, frequently used apps and more. As she points out, some of the programs, like ActivTrak are even available for free. The video, which drew frustrated responses from many viewers, is just the latest TikTok to spark debates about employer-employee dynamics. In April, a business owner went viral for explaining how she’s attempting to counter wage disparities by paying all of her employees — including herself — the same salary . In another, a millennial boss showed how differently his Gen Z employees speak through email . Brick’s video goes on to show how programs like ActivTrak can rank individual employees based on their productivity. She then shares that certain monitoring software can track a person’s most-visited websites and take screenshots of their browser tabs. In some cases, they can even take screenshots of a person’s face during a video call. See this Manhattan apartment get an unbelievable maximalist makeover with just $1,000: “Tell me that’s not creepy,” she says. In a series of follow-up videos, Brick explains some of her tips for discovering and dealing with these programs. In one clip, she showed an easy way to see if your work computer already has monitoring software on it. As Brick states in a subsequent video , it’s difficult to delete this software for a number of technical, or maybe even legal, reasons. Instead, she recommends a few tools — such as a webcam cover, or a “mouse jiggler,” which increases your productivity score by keeping your computer from going to sleep. Commenters were grateful for Brick’s advice, although many also seemed freaked out. “New fear unlocked,” one user wrote. “This can’t be legal,” another added. Others chimed in with a singular piece of advice: Don’t use your work computer for non-work activities. ‘This is why you never use work equipment for anything other than work,” one user wrote. Luka Sabbat on defying labels and doing your own thing: 'Fit in for what?' The post TikToker shows how easy it is for employers to ‘spy’ on their employees’ computer activity appeared first on In The Know . View comments || E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Turns Short-Term Bullish on Trade Thru 12096.75: June E-mini NASDAQ-100 Index futures are trading higher shortly after the cash market close on Wednesday. The market is up, but off its high following the release of minutes from the Federal Reserve’s latest monetary policy meeting. The minutes showed policymakers unanimously felt the U.S. economy was very strong as they grappled with reining in inflation without triggering a recession. At 20:17 GMT, June E-mini NASDAQ-100 Index futures are at 11922.50, up 151.50 or +1.29%. The Invesco QQQ Trust ETF settled at $291.33, up $4.09 or +1.42%. The minutes from the Fed’s May 3-4 meeting showed officials saw the need to raise rates quickly, and possibly more than the market has priced in, to quell the recent inflationary pressures. The index edged higher after the minutes because it did not contain any surprises. Daily June E-mini NASDAQ-100 Index Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through 11491.25 will signal a resumption of the downtrend. A move through 12594.00 will change the main trend to up. The minor trend is also down. A trade through 12096.75 will change the minor trend to up. This will also shift momentum to the upside. On the downside, the major support is a long-term retracement zone at 11671.25 to 10468.25. On the upside, the first resistance is a minor pivot at 12042.75. This is followed by a second minor pivot at 12042.75. Short-Term Outlook Trader reaction to 11671.25 is likely to determine the direction of the June E-mini NASDAQ-100 Index early Thursday. Bullish Scenario A sustained move over 11671.25 will indicate the presence of buyers. The first upside target is 12042.75, followed by the minor top at 12096.75. Taking out 12096.75 could create the upside momentum needed to challenge the 50% level at 12523.25, followed by the main top at 12594.00. A trade through this level will change the main trend to up and signal further upside potential. Bearish Scenario A sustained move under 11671.25 will be a sign of weakness. Taking out the minor bottom at 11576.25 should lead to a quick test of the minor bottom at 11491.25. This is a potential trigger point for an acceleration into the November 2, 2020 main bottom at 10913.75. 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: Miami Mayor Suarez Still Takes Bitcoin Salary Despite Crypto Winter U.N. vote on Thursday on U.S. push for more North Korea sanctions El Salvador extends state of emergency to tackle gangs Boeing Starliner capsule returns to Earth, capping key uncrewed test mission Hemmed in by COVID curbs, Beijingers seek respite in urban outdoors Global automakers face electric shock in China View comments || SOL Price Prediction: Solana (SOL) Returns to $41 with an Eye on $45: • Solana (SOL) fell by 1.27% on Wednesday. Following a 7.25% tumble on Tuesday, SOL fell back to sub-$39.
• Negative investor sentiment towards more network downtime, coupled with bearish sentiment across the broader crypto market, weighed mid-week.
• Technical indicators are bearish, with SOL sitting below the 100-day EMA.
On Wednesday, Solana (SOL) fell by 1.27%. Following a 7.25% slide on Tuesday, SOL ended the day at $38.79.
A bullish start to Wednesday’s session saw SOL strike an early high of $40.89 before hitting reverse.
Falling short of the First Major Resistance Level at $42.17, SOL slid to a day low of $38.29.
Steering clear of the First Major Support Level at $36.88, SOL revisited $40 levels before ending the day in the red.
The bearish sentiment from the broader market contributed to the downside, withbitcoin(BTC) returning to sub-$30,000 mid-week.
Adding further downward pressure was further network downtime, which continues to plague Solana and token holders.
Despite frequent network outages, the news wires continue delivering price support.
On Wednesday,FX EmpirereportedSolana plans to seed invest and issue grants across ‘all web3 verticals, emphasizing South Korea’s crypto games development sector.’
According to the report, Solana Ventures and the Solana Foundation have committed $100 million to support South Korean startups, focusing on DeFi, GameFi, gaming studios, andNFTs.
In addition to grants and seed funding, Solana also aims to provide South Korean developers with product and engineering guidance.
The latest initiative comes in the wake of the TerraUSD (UST) and and TerraLUNAmeltdowns and the launch ofLuna 2.0.
At the time of writing, SOL was up 6.24% to $41.21. A bullish morning saw SOL surge from an early morning low of $38.41 to a late morning high of $41.90.
SOL broke through the First Major Resistance Level at $40.36. Coming up against the Second Major Resistance Level at $41.92, SOL eased back to sub-$41.50.
SOL will need to avoid sub-$41 and the First Major Resistance Level at $40.36 to retarget the Second Major Resistance Level at $41.92.
A broad-based crypto rally would support a move back through to $41.50 levels.
In the event of an extended rally, the bulls could target the Third Major Resistance Level at $44.52 and resistance at $45.
A fall through the First Major Resistance Level and the $39.32pivotwould bring the First Major Support Level at $37.76 into play. Barring a bearish afternoon session, SOL should steer well clear of sub-$37. The Second Major Support Level sits at $36.72.
TheEMAsand the 4-hourly candlestick chart (below) send a bearish signal. SOL sits below the 100-day EMA, currently at $43.70. This morning, the 50-day EMA closed in on the 100-day EMA. The 100-day EMA flattened on the 200-day EMA, both bullish signals.
A move through the 100-day EMA would bring $45 into play.
Thisarticlewas originally posted on FX Empire
• Repsol sells 25% renewables stake to EIP, Credit Agricole for $964 million
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• U.S. household wealth declines for first time in 2 years in 1st quarter
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• Mobile courtroom aims to ‘bridge the gap’ in northern California || Bitcoin and ETH Near Major Crossroads, Why LEO Could Surge: Key Insights: Bitcoin cleared the $30,000 resistance and started a consolidation phase. Ether (ETH) is facing resistance near $1,915. LEO bulls seem to be eyeing an upside break above $5.25. Bitcoin Recently, bitcoin price started a decent increase above the key $28,550 level. The price was able to surpass the $29,400 resistance level and the 21 simple moving average (H1). There was also a move above a connecting bearish trend line with resistance near $29,100 on the hourly chart. It opened the doors for a steady increase and the price climbed above the $30,000 resistance zone. BTC Hourly Chart by FXEmpire On the upside, bitcoin is now facing a major resistance near the $30,800 zone. A clear move above the $30,800 zone could start another steady increase, may be towards $31,500. If the bulls fail, the price could decline and revisit the $29,400 support. Ethereum (ETH) ETH also started a fresh increase from the $1,720 zone. The bulls were able to push the price above the $1,825 resistance zone and the 21 simple moving average (H1). It even cleared the $1,880 level, but the bears seem to be active near $1,915. A close above the $1,915 is needed to start a decent increase. In the stated case, ether price could rise and test the $2,000 resistance zone. ETH Hourly Chart by FXEmpire If not, there is a risk of a move towards the $1,825 support and a major bullish trend line on the hourly chart. UNUS SED LEO (LEO) LEO started a strong decline after it topped near the $8.00 level. The bears pushed the price below the $6.50 and $6.00 support levels. It even moved below the $5.00 level and the 21-day simple moving average. Finally, the price found support near the $4.80 zone. Recently, LEO price started a fresh increase above the $5.00 level. LEO Daily Chart by FXEmpire The price is now trading above the 21-day simple moving average, but there is a major hurdle waiting near $5.25. There is also a key bearish trend line at $5.26 on the daily chart. A clear move above the $5.25 resistance could initiate a strong rally. The next major resistance is near the $6.20 level. If there is no upside break, the price could restart decline and test the $4.20 level. Story continues ADA, BNB, and DOT price Cardano (ADA) gained over 10% and was able to surpass the $0.52 resistance. It seems like the bulls might aim a break above the $0.55 resistance. BNB is consolidating near the $312 and $315 levels. On the upside, the bears might remain active near the $320 level. Polkadot (DOT) is up 5% and trading above the $10.00 level. An immediate resistance is $10.50, above which it could rise to $10.80. A few trending coins are EGLD , AAVE , and THETA . Out of these, THETA is up 10% and trading above the $1.25 resistance zone. This article was originally posted on FX Empire More From FXEMPIRE: C$ rallies as current account surplus hits 14-year high Russians, Ukrainians fight on outskirts of Sievierodonetsk, EU haggles over oil ban Oil climbs above $121 a barrel as China eases restrictions, EU meets Turkey tells U.S. it wants concrete steps from Finland, Sweden for NATO bids Zelenskiy chides EU for failing to agree on Russian oil import ban Sex crime allegations in Canadian military should be investigated externally, report says || Crypto Meltdown Gathers Pace as Celsius Collapse Drags Bitcoin, Altcoins Lower: By Geoffrey Smith Investing.com -- Bitcoin slid over 10% and alternative coins followed in morning trading in Europe on Monday, after a major cryptocurrency lender said it would pause withdrawals at the weekend. By 6 AM ET (1000 GMT), Bitcoin was trading at $24,215, its lowest since December 2020, while Ethereum was down 16% and Cardano, Solana and Dogecoin were all down by over 11%. Celsius had said on Sunday it would pause "all withdrawals, Swap, and transfers between accounts," citing "extreme market conditions," without specifying further. Celsius' founder and CEO Alex Mashinsky had vigorously denied only 24 hours earlier that the network was having trouble meeting redemption requests. "Do you know even one person who has a problem withdrawing from Celsius?" Mashinsky had said via Twitter in response to another user's mention of retail investors having trouble withdrawing their assets from Celsius. He accused the user of spreading "FUD and misinformation." FUD stands for Fear, Uncertainty, and Doubt and is chiefly used as a pejorative term against anyone who expresses skepticism about cryptocurrencies. Celsius was unable to give any timeframe for resuming its services. saying that: "There is a lot of work ahead as we consider various options, this process will take time, and there may be delays." Celsius' own token lost another 50% in early trading Monday and has lost nearly 95% of its value since the end of March, most of that coming after the collapse of the Terra-Luna system sowed doubt about the sustainability of networks built around the promises of high short-term 'staking' rewards. Celsius' business model has been built on offering customers high yields for their crypto deposits, which it lends out to other crypto firms. The model has run into trouble with U.S. regulators who view such loans as unregistered securities. At least, four states have issued cease-and-desist letters to Celsius by last September, according to Decrypt.co. A similar threat by the Securities and Exchanges Commission, meanwhile, had been enough to stop Coinbase (NASDAQ:COIN) from proceeding with a similar offering. Story continues Cryptocurrencies, in general, have come under sustained pressure in recent weeks as the pace of monetary policy tightening across the world has increased, making it more expensive to fund crypto investments with traditional fiat currency. That became even more of an issue on Friday as the U.S. consumer price index for May again overshot expectations, leading to speculation that the Federal Reserve may raise its key interest rates by 75 basis points this week, rather than the 50 previously expected. Related Articles Crypto Meltdown Gathers Pace as Celsius Collapse Drags Bitcoin, Altcoins Lower Crypto winter survival guide: Community shares game plan for the bear market Bitcoin slides after crypto lender Celsius Network freezes withdrawals || Market Wrap: BTC Tumbles Further Ahead of Fed Meeting; Extreme Fear Among Traders: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
The largest cryptocurrency by market capitalization dropped further on Tuesday as crypto industrylayoffswidened and traders fretted over a likelysteeper-than-expected rate hikeby the U.S. central bank.
Down for the eighth consecutive day, bitcoin regained little strength after falling to a30-month lowof $20,834.50 on Monday night but was still down over 5% over the past 24 hours.
The 15% price drop at the start of the week was the biggest since the crash prompted by COVID-19 on March 12, 2020.
Not just bitcoin, but cryptocurrencies of all market cap sizes have suffered in the current sell-off, tracking steep declines in stocks, as Arcane Research noted in a report Tuesday.
“We're coming off of about a decade of monetary stimulus and money supply has grown rapidly, and for the first time market participants are getting the punch bowl taken away from them,” said Fundstrat Global Advisors head of digital asset strategy Sean Farrell on CoinDesk TV. “I think we're still going to need to see inflation start to roll over before we can be confident in any run to the upside and relief to the upside.”
Anarticlein The Wall Street Journal on Monday hinted at a 75 basis point rate hike by the Fed at the conclusion of its two-day, closed-door meeting Wednesday.
This leaves traders fearing monetary tightening throughout the year with no break, as Atlanta Fed President Raphael Bostic suggested earlier this month, temporarily buoying crypto markets. Economists at Goldman Sachs (GS) now are forecasting 75 basis point rate hikes for both June and July, followed by a 50 basis point increase in September plus a 25 basis point hike in November and in December.
“Investors should be braced for volatility and sticky correlations at least in the coming days,” Arcane researchers wrote.
As a result, the bitcoinFear and Greed Indexreached 8, signaling extreme fear. While the market has been in extreme fear territory for the 56th consecutive month, this level hasn't been seen since March 2020.
●Bitcoin(BTC): $22185,−4.99%
●Ether(ETH): $1206,−3.12%
●S&P 500 daily close: $3735,−0.38%
●Gold: $1809 per troy ounce,−1.04%
●Ten-year Treasury yield daily close: 3.48%
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
By Tracy Wang
The beleaguered crypto lending platform Celsius’sCEL tokenjumped eight-fold to an intraday high of $2.57 from 30 cents, according todatafrom FTX, before falling back to about 54 cents. That's still up from 35 cents prior to a recent crash when Celsius halted withdrawals on June 12, citing "extreme market conditions."
According to exchange data, it appears the latest price jump stemmed from a big spot buyer on crypto exchange FTX.
A trader who spoke with CoinDesk says the price action indicated ashort squeeze, as shorting Celsius’s token had become an “overcrowded trade.” A "short" position is when traders bet on a token's price to fall.
A short squeeze occurs when the price of a token moves sharply higher, prompting traders who bet against it – often with borrowed money or tokens – to buy it back or "cover" the position, to avoid greater losses.
Questions surrounding Celsius's financial health have been making waves in cryptocurrency markets.
• ETH underperformance echoes ‘Crypto Winter’:The largestaltcoin, ether (ETH), is underperforming bitcoin (BTC), just as it did during the downturn in crypto markets in 2018, investment bank Morgan Stanley (MS) said in a report Monday. “When the ETH/BTC relative cross falls, it is a sign that the broader crypto enthusiasm is waning” as money is being pulled out of the more volatile alternative coins, according to the note. The analysts added that this time around it’s largely institutional investors driving sales. ETH has dropped about 75% from its November peak, and changed hands at $1,215.Read more here.
• Shorts and longs liquidated:Crypto-tracked futures lost over $1 billion in a day as major cryptocurrencies declined by an average of over 15%, data shows. Among altcoin futures, ether (ETH) liquidations led with $308 million in liquidations, followed bySOLwith $18.8 million andADAwith $7.5 million. Themove-to-earn appStepn’s GMT futures saw $6.6 million in losses.Liquidationshappen when a trader fails to have sufficient funds to keep a leveraged position open so the trade is forced to close.Read more here.
• OpenSea change:The leading non-fungible token (NFT) marketplace OpenSea is revamping its back end and moving from the Wyvern protocol to its self-developed Seaport protocol. The company estimates the switch will save users $460 million in the next year by lowering transaction costs on the platform. The move will also allow OpenSea to eliminate initiation fees, let users make offers on entire collections and make its wallet signatures easier to read and understand, the firm said.Read more here.
• Coinbase Lays Off Around 1,100 Employees: The exchange is reducing its workforce by roughly 18%. CEO Brian Armstrong admits the company "grew too quickly."
• EU Finance Commissioner Calls for Speedy Passage of Crypto Law: Mairead McGuinness also said if it were in place the MiCA framework could also facilitate sanctions implementation.
• MicroStrategy Defended at BTIG; Saylor Not Expecting Imminent Margin Call: Shares of the technology company have tumbled alongside bitcoin, down 35% over the past few days and nearly 75% so far this year.
• With Market Crash, El Salvador Is Down $52M on Its Bitcoin Bet: The country has made $104 million in investments in the cryptocurrency since it made bitcoin legal tender last September.
• Bond Traders Raise Bets for Fed Rate Hike, Adding to BTC Pressure: The CME FedWatch Tool shows traders see a 94% chance of a 75 basis-point hike to be announced Wednesday.
• NY City Mayor Eric Adams Wants State's Governor to Veto 2-Year Moratorium on PoW Mining: The city's pro-crypto mayor plans to ask Gov. Kathy Hochul to veto the bill to stop proof-of-work mining temporarily.
• Gaming DAO Merit Circle, YGG ‘Terminate Relationship’: Merit Circle members had proposed canceling YGG’s investment in the organization because of a lack of perceived added value. Now the two are parting ways.
Most digital assets in the CoinDesk 20 ended the day lower.
[{"Asset": "Chainlink", "Ticker": "LINK", "Returns": "+7.1%", "DACS Sector": "Computing"}, {"Asset": "Internet Computer", "Ticker": "ICP", "Returns": "+2.3%", "DACS Sector": "Computing"}, {"Asset": "Polkadot", "Ticker": "DOT", "Returns": "+2.1%", "DACS Sector": "Smart Contract Platform"}]
[{"Asset": "Polygon", "Ticker": "MATIC", "Returns": "\u22128.0%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Bitcoin Cash", "Ticker": "BCH", "Returns": "\u22127.4%", "DACS Sector": "Currency"}, {"Asset": "Bitcoin", "Ticker": "BTC", "Returns": "\u22125.1%", "DACS Sector": "Currency"}]
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. TheCoinDesk 20is a ranking of the largest digital assets by volume on trusted exchanges.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 22485.69, 23389.43, 23231.73, 23164.63, 22714.98, 22465.48, 22609.16, 21361.70, 21239.75, 22930.55
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-09-17]
BTC Price: 10948.99, BTC RSI: 52.03
Gold Price: 1940.00, Gold RSI: 49.80
Oil Price: 40.97, Oil RSI: 53.17
[Random Sample of News (last 60 days)]
ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 12, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
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. 1-800-204-6203info@alt5sigma.com
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/605871/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || 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 || Bitcoin Rises With Stocks as EU Agrees €750B in Coronavirus Stimulus: Bitcoin edged higher on Tuesday as stock markets cheered the EU’s decision to approve a landmark coronavirus recovery fund.
• The leading cryptocurrency by market value jumped from $9,190 to $9,360 during the 60 minutes to 08:00 UTC.
• Bitcoin is trading at $9,348 at press time – up around 2% on the day, according to CoinDesk’sBitcoin Price Index.
• European Union leaders clinched the long-awaited €750 billion post-pandemicfiscal stimulusplan during the Asian trading hours, boosting demand for equities and sending EUR/USD to a 4.5-month high of 1.1470.
• Additional bullish pressure looks to bestemming from hopesthat coronavirus vaccines would be ready by the year-end.
• Some major European equity indices are up at least 1.5% each, while Germany’s DAX index is currently at its highest level since February.
• Asian stocks also gained over 2% early Tuesday; futures tied to the S&P 500, Wall Street’s benchmark index, are currently up nearly 0.8%.
• Bitcoin hasrecently developeda strong positive correlation with the stock markets.
• Equities remain vulnerable to a potential escalation in lingeringSino-U.S. tensions.
• Wayne Chen, CEO of Interlapse Technologies, however, said investors may now look to bitcoin as a store of value/safe haven, given the high price of gold.
• The precious metal is now just 4.6% short of the record high of $1,911 reached in September 2011.
• From a technical analysis standpoint, bitcoin’s immediate bias remains neutral, despite today’s rise.
• The cryptocurrency is still trapped within the narrowing Bollinger volatility bands.
• A Bollinger breakout in either direction would bring a measured move of $400 to support at $8,600 or resistance at $9,800,as noted by Adrian Zdunczyk, CEO of trading community The BIRB Nest in a blog post.
Disclosure:The author holds no cryptocurrency at the time of writing.
• Bitcoin Rises With Stocks as EU Agrees €750B in Coronavirus Stimulus
• Bitcoin Rises With Stocks as EU Agrees €750B in Coronavirus Stimulus
• Bitcoin Rises With Stocks as EU Agrees €750B in Coronavirus Stimulus
• Bitcoin Rises With Stocks as EU Agrees €750B in Coronavirus Stimulus || BTSE to offer margin and settlement for Bitcoin Dominance Futures: Bitcoin-based fintech company BTSE has launched a new derivative where investors can take a position on Bitcoin’s overall share of the market and settle it in a variety of currencies. “BTSE’s Bitcoin Dominance Futures with multi-asset capability is a part of our mission to strengthen the bridge between trading traditional fiat and cryptocurrencies. BTSE also offers the most liquid futures on the market for this tool, allowing our users to access higher volume and product variety,” says Jonathan Leong, CEO of BTSE. Bitcoin dominance has become an ever present metric among cryptocurrency traders and Bitcoin holders as it demonstrates sentiment in the market as well as the relative strength of altcoins. BTSE’s futures products draws data from Binance-owned CoinMarketCap while it has plans to add values from TradingView in the near future. Currently, Bitcoin’s market cap is at $171 billion, which makes up 62.2% of the entire cryptocurrency market cap. The money flow index (MFI) is a technical oscillator that measures the inflow and outflow of money into an asset over a period of time by analyzing both price and volume. In this #BTSE Academy post, we learn about the MFI indicator and we can use it: https://t.co/AfkN9QFQBs pic.twitter.com/apXPyTg0ij — BTSE (@BTSEcom) July 17, 2020 BTSE is the second to offer the new trading tool after Bitfinex, but the first to offer the trading tool with multi-asset collateral capability. Using BTSE’s All-In-One-Order Book, users have greater flexibility to decide which margin they’d like to place their trade in, as well as the currency they’d like to settle in. This is advantageous as traders can avoid price slippage if Bitcoin is in decline, and users are not required to convert assets and pay unnecessary transaction and conversion fees at the end of trade. Story continues Traders can post margin and settle their profits in any combination of fiat currencies, including USD, EUR, HKD, and cryptocurrencies, including BTC, ETH, Tether, or USDC. Bitcoin Dominance Futures act as a great trade alternative to Bitcoin Futures contract for more risk-averse traders, too. The trade offers less-volatile exposure because it references Bitcoin to a broader basket of digital assets. Bitcoin’s dominance value has shown less volatility than its spot price and this figure has become attractive for newly introduced Bitcoin traders within the market. For more news, guides and cryptocurrency analysis, click here . || Market Wrap: Bitcoin Flat at $11.2K; DeFi Has Highest Volume Month Ever: Bitcoin trading is weak Tuesday while volumes on DeFi are as high as they have ever been.
• Bitcoin(BTC) trading around $11,2587 as of 20:00 UTC (4 p.m. ET). Slipping 1.6% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,005-$11,419
• BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
After wild Sunday action that saw the price of the world’s oldest cryptocurrency fall as low as $10,050 on spot exchanges like Coinbase, bitcoin is trading relatively flat, at around $11,200 Tuesday. “The asset is trading in a narrow range of $11,080 to $11,220,” said Constantine Kogan, a partner at crypto fund of funds BitBull Capital. “To continue last week’s rally, bitcoin needs to overcome the resistance level, which is in the $11,300- $11,400 region,” he added.
Katie Stockton, analyst for Fairlead Strategies, says the bitcoin market is weaker after traders scurried in late July to buy, leading to an “overbought” situation for the world’s oldest cryptocurrency. “We view sideways price action as constructive,” she said. “Bitcoin has gained approximately 29% since July’s low, and is now due for consolidation.”
Related:DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say
Read More:Bitcoin Futures Interest Soars as Bond Yields Fall to Record Lows
Money printing from the Federal Reserve is one reason why the case for buying bitcoin sustains, says BitBull’s Kogan. “The sharp rise in bitcoin is associated with the weakening of several world currencies – the dollar and the Chinese yuan,” he said. According to the Fed, the M1 money supply, which constitutes cash and cash equivalents, has increased from $4 trillion at the start of February to $5.3 trillion at the end of July, a 33% increase.
Andrew Tu, an executive at quantitative trading firm Efficient Frontier, is bullish on a higher bitcoin price. “We are now at higher lows and now have a genuinely tested support line at $11,000,” Tu said. “Bitcoin seems to be trending upwards now.”
Read More:As Fed Nears Inflation Rubicon, Analysts See $50K Bitcoin in Play
Related:Two Reasons Crypto's Bull Market Is Coming
Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Tuesday, trading around $387 after slipping 1.8% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Ethereum 2.0 Testnet Medalla Goes Live With 20,000 Validators
July was the best trading volume month ever for Ethereum-powered decentralized exchanges, or DEXs. According to data aggregator Dune Analytics, DEX volumes approached $4.3 billion this past month, four times the volume than in June and a twelvefold increase since July 2019. Leading the way was Uniswap’s DEX, followed by stablecoin swapping platform Curve.
“Uniswap has really grown tremendously over the course of the last year,” said Efficient Frontier’s Tu. He also noted technological improvements and incentives that increase liquidity have helped the growth of DEXs. “This is due to the automated market making, or AMM, innovations seen in the space, as well as due to liquidity mining.”
Digital assets on theCoinDesk 20are mixed Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• chainlink(LINK) + 10%
• tezos(XTY) + 6.6%
• qtum(QTUM) + 6.4%
Read More:Charlie Lee, Adam Back Lead $3.1M Token Raise for Blockchain Game
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• xrp(XRP) – 6.3%
• bitcoin sv(BSV) – 4.7%
• bitcoin cash(BCH) – 4.5%
Read More:Ripple Snaps XRP Sales Slump With $33M of the Crypto Sold in Q2
Equities:
• Asia’s Nikkei 225 closed higher, up 1.7%as strong manufacturing numbers globally boosted Asahi and Mitsubishi Chemicalstocks in Tokyo.
• Europe’s FTSE 100 ended the day flat, in the red 0.05%,as U.S.-China tensions left traders unsure about economic prospects.
• The United States’ S&P 500 was flat, up only 0.36% asU.S. lawmakers indicated a fresh coronavirus relief package wouldn't materialize this week.
Read More:INX Scales Down US IPO Target to $127M – Still Set to Be Crypto’s Largest
Commodities:
• Gold is up 2%, topping $2,000 for the first time at $2,016 as of press time.
• Oil is up 1.9%. Price per barrel of West Texas Intermediate crude: $39.66
Read More:Genesis’ Lending Rebounds in 2Q; Firm Acknowledges Unsecured Loans
Treasurys:
• U.S. Treasury bonds all slipped Tuesday. Yields, which move in the opposite direction as price, were down most on the 10-year, in the red 8.6%.
Read More:DeFi-Focused Derivatives Platform Hedget Raises $500K in Seed Funding
• Market Wrap: Bitcoin Flat at $11.2K; DeFi Has Highest Volume Month Ever
• Market Wrap: Bitcoin Flat at $11.2K; DeFi Has Highest Volume Month Ever || Wasabi Wallet Is Revamping Its CoinJoin Design to Allow Bitcoin Mixing With Differing Values: Privacy-focused Bitcoin software wallet Wasabi is getting a major protocol overhaul.
The Wasabi team is working on a new protocol design, dubbedWabiSabi, in a bid to improve the user experience and privacy guarantees of the wallet’s CoinJoin transactions. The major design change would allow users to coinjoin with different values than their peers, a first for the privacy-minded technology that could lead to new (and more flexible) use cases. Wasabi has been conceptualizing the design in a research group since the beginning of 2020 and has hired team members to work on the implementation.
Currently, Wasabi’s CoinJoin – a mixing protocol that, when used correctly, can obscure abitcoin’stransaction history – relies on the ZeroLink protocol and blind signatures for mixing. Under this scheme, users must spend a set minimum amount of bitcoin with other users in a mixing pool for the CoinJoin to work successfully; these like amounts are shuffled together in a pool, after which each user receives the same amount of bitcoin back in a way that doesn’t reveal their original input.
Related:Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi
For this to work effectively, each user in a CoinJoin transaction must send a minimum amount of bitcoin to the mixing pool (e.g., 0.1, 0.01, etc) so as to ensure that they receive the same output as other users when the CoinJoin is complete. If recipients don’t receive the same amount of Bitcoin at the end of a join as other users in the mix, the transactions could be easily deanonymized by blockchain surveillance.
This current scheme also gives the CoinJoin’s coordinator a spyglass into a user’s information. Wasabi contractor and contributor Max Hillebrand told CoinDesk that a coordinator “could link the input to the change output, and could link multiple inputs to the same user.”
WabiSabi won’t disintermediate this coordinator role, seeing as it is necessary to make the protocol as frictionless and low-latency as possible. But the new design, according to Wasabi’s team, will keep the coordinator from tracing inputs to ensure “as few privacy leaks as reasonable,” Hillebrand said.
The new protocolis a technical casserole that combines Pedersen commitments andkeyed-verification anonymous credentials(KVAC), a feature used for group messaging on the encrypted chat app Signal.
Related:Fed Chair Powell's Flexible Inflation Views Were Already Priced In
If WabiSabi works in practice as it does in theory, then users will be able to spend any amount, irrespective of the value spent by their peers – an improvement over the current design which demands equal value payouts to mixing participants.
Wasabi co-founder and lead researcher Adam Ficsor told CoinDesk this new design could unlock new CoinJoin use cases, like “CoinSwappingwith CoinJoins and open[ing] lightning channels with CoinJoins.”
Hillebrand continued to highlight that this implementation will not be limited to self-spends, where users can only send a CoinJoin transaction to themselves, like under the current model. Rather, WabiSabi would allow them to make payments in a CoinJoin transaction to another user as well. This process would operate in the background if it runs the way Wasabi envisions it, opening up the possibility to make “every spend a CoinJoin.”
“The [old] Zero Link CoinJoins are mainly a self-spend, so the same user owns the input and the output. It’s not a payment; it’s like you are shuffling the bitcoin from your left pocket to your right pocket. This increases blockspace usage and thus incurs more expensive mining fees for the sender and verification cost for all Bitcoin full node users.”
Of course, the protocol’s development is still in its early stages, and Wasabi lead developer Lucas Ontivero told CoinDesk the white paper, whichwas unveiled to the Bitcoin developer mailing listin mid-June, is “still being peer reviewed.”
The challenge now is structuring the actual transaction design, which is a different technical feat from designing the protocol itself. As Hillebrand explained, the WabiSabi protocol design sets the parameters for data transmission between end users and coordinators, while the transaction structure of inputs and outputs is a different problem entirely.
This “transaction structure is not 100% ready,” Wasabi cryptographer István András Seres told CoinDesk over email. He added that “it is a huge design [requirement]” and that the team will want a “proper audit” before feeling comfortable releasing it to the public.
So a working WabiSabi implementation may be some time away, though the next step in development is creating a transaction scheme that retains the privacy promises of the underlying protocol. The team did not make any promises about when the tech could be ready, as “there are many open research questions and unknowns,” Hillebrand said.
As independent Bitcoin privacy researcher Yuval Kogman put it, the next, challenging step is “going from theory to practice” in a way that keeps the protocol as user friendly as possible to maximize its adoption.
“On the cryptography side, the theory is well developed and understood. Anonymous credentials as a concept go a long way back and are fairly straightforward to apply…a big part of the challenge is UI/UX [user interface/user experience], and in order to take full advantage of the credential scheme and the transaction structure, we will have to find some creative solutions,” he said, adding that the team has “already come up with some pretty promising and interesting ideas.”
This article was updated to more accurately describe how Wasabi’s current CoinJoin implementation works.
• Wasabi Wallet Is Revamping Its CoinJoin Design to Allow Bitcoin Mixing With Differing Values
• Wasabi Wallet Is Revamping Its CoinJoin Design to Allow Bitcoin Mixing With Differing Values || Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move: Bitcoin’s price is trending down and an Ethereum competitor is entering the DeFi race this weekend.
• Bitcoin(BTC) trading around $11,579 as of 20:00 UTC (4 p.m. ET). Slipping 2.4% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,348-$11,919
• BTC below 10-day and 50-day moving averages, a bearish signal for market technicians.
Bitcoin’s price was able to rally to as high as $11,917 Friday before losing momentum, falling back into the $11,500 range. “Over the past day, bitcoin tested the level of $11,900 but it did not succeed, and BTC slipped,” said Constantine Kogan, partner at crypto fund of funds BitBull Capital.
Read More:Fixing This Bitcoin-Killing Bug Will (Eventually) Require a Hard Fork
Related:Bitcoin Transaction Fees Dropped 58% Last Week as Congestion Eased
Bitcoin and gold continue to trade together. Gold is also down Friday, in the red 1.6% and at $2,030 as of press time. “The gold/BTC correlation is at an all-time high right now,” said Daniel Koehler, liquidity manager for cryptocurrency exchange OKCoin. “The one-month correlations between BTC and gold have seen a significant spike over the past two weeks, currently sitting at about 67%,” he added.
One downward trending day is not altering optimism about the crypto market, added Koehler. “With bitcoin following gold as a store of value, and DeFi pushing ETH, the excitement is palpable in the trading community right now.”
John Willock, CEO of digital asset liquidity provider Tritum, agrees. “Sentiment in the market is highly buoyant and generally positive market news is increasing confidence and aggression in positioning,” he said. “I expect to see bitcoin bounce back quickly to $12,000 with ether to $400 this weekend.”
The second-largest cryptocurrency by market capitalization (ETH),ether,was down Friday, trading around $347 after slipping 4.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Related:Bitcoin Suddenly Drops by $500 After Passing $12K [Updated]
Read More:Polkadot Releases Rococo, Test Environment for Interoperable ‘Parachains’
Smart contact platform Cardano intends to start producing proof-of-stake (PoS) mainnet blocks this weekend. Ethereum’s switch to PoS from its current proof-of-work setup is expected sometime by the end of the year.
Since the start of 2020, Cardano’s token,ada, has seen a market capitalization increase from $1 billion to $4.5 billion, according to CoinGecko. The platform, a competitor to Ethereum, has taken a methodical approach towards launchingand now has 770 pools staking almost 20% of ada supply.
George Clayton, managing partner of Cryptanalysis Capital, is looking forward to watching Cardano in the DeFi race, as smart contract capabilities for building decentralized applications on the platformare expected to launch later in 2020. “The transition to PoS mainnet is complete but stake pools do not start producing blocks until Aug. 8,” he said. “Very interested to see what happens with Cardano; that’s a big moment for the protocol.”
Digital assets on theCoinDesk 20are mostly in the red Friday. One notable winner as of 20:00 UTC (4:00 p.m. ET):
• chainlink(LINK) + 0.62%
Read More:Kyber CEO Predicts 2020 Transactions at $3B as DeFi Token Soars
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• zcash(ZEC) – 8.1%
• tezos(XTZ) – 7.4%
• dash(DASH) – 7.4%
Read More:Ethereum Classic Attacker Double-Spends $1.68M in Second Attack
Equities:
• In Asia, the Nikkei 225 closed in the red 0.39% asweak corporate earnings spurred profit taking ahead of a three-day weekend in Japan.
• In Europe, the FTSE 100 ended the day flat, in the green 0.09%. asU.S. tensions with China countered better-than-expected job numbers.
• In the United States, the S&P 500 lost 0.40% asprogress slows on negotiations for fresh coronavirus economic stimulus.
Read More:NBA’s Spencer Dinwiddie, Andre Iguodala Join Dapper Labs $12M Funding
Commodities:
• Oil is down 1%. Price per barrel of West Texas Intermediate crude: $41.51.
Read More:Binance Says NY Banks Can Now Use Its Stablecoin After Approval
Treasurys:
• U.S. Treasury bonds all climbed Friday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 5.4%.
Read More:Privacy Group Slams California Bill Putting Health Records on Blockchain
• Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move
• Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move || First Mover: Huobi Takes On OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry: You’re reading First 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 can subscribe here . Market moves Cryptocurrency exchange Huobi is taking aim at competitor OKEx in the business of trading bitcoin futures and other derivatives contracts, opening up a new front in a longstanding rivalry between the Chinese-led exchanges. OKEx, which is led by Chinese executives and based in Malta, is the world’s biggest crypto derivatives exchange, with outstanding contracts valued at $1.26 billion, according to the data site CoinGecko. Huobi, also led by Chinese brass but based in Singapore, is close behind, tied for second place with another exchange, BitMEX, at $1.25 billion. Related: Protection Over Profit: What Early Mining Patterns Suggest About Bitcoin’s Inventor In a report this month, Huobi said it has “managed to push new boundaries against other well-established exchanges when it comes to futures trading volume.” Huobi is already beating OKEx in a few market segments, according to the report, including “ coin-margined futures ” – where traders can post their initial down payment, known as margin, using cryptocurrencies. Huobi claims to also regularly beat OKEx in weekly and quarterly bitcoin futures contracts. “Before Huobi launched its futures contract in December 2018, OKEx had the largest market share of the world,” Ciara Sun, vice president of Huobi Global Markets, told CoinDesk in a Telegram message. “Huobi Futures always looks up to the best of the market.” The battle for supremacy in cryptocurrency futures – and China – adds to the tension between the two exchanges, which have been at loggerheads at least since 2018, when then-OKEx CEO Chris Lee defected to Huobi to become vice president of global business development. Story continues OKEx CEO Jay Hao, in a company update in March , called Huobi “our doppelgänger,” insisted “imitation was the sincerest form of flattery” and said he “would like to think that Huobi was able to withstand this market volatility by following our footsteps.” Related: Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume Experts on China’s often-murky cryptocurrency markets say the rivalry between the two exchanges likely stems from the fight for customers in the world’s second-largest economy. “There’s a natural friction between OKEx and Huobi,” Matthew Graham, chief executive officer of Beijing-based crypto consultancy Sino Global Capital, told CoinDesk in an email. “While they have both pushed to enlarge their international footprints, they still prioritize their Chinese user base.” Read more: Huobi and OKEx Battle for Supremacy in China – Muyao Shen Bitcoin watch While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is lagging U.S. stocks over the month. Bitcoin is trading near $11,610 at press time, up 2.3% on the month, according to CoinDesk’s Bitcoin Price Index . It was the first time the cryptocurrency gained in August since 2017, when prices rallied by 66%. As of Friday, the S&P 500, Wall Street’s benchmark stocks index, was eyeing a 7.25% gain for August, as per data provided by TradingView . Bitcoin faced rejection at highs above 12,400 on Aug. 17 and has been restricted largely to a range of $11,100 to $11,800 ever since. The rally from July lows below $9,000 has stalled with the weakening of demand from institutions and macro traders, as indicated by the recent 30% decline in open positions in futures listed on the Chicago Mercantile Exchange. Click here for the full story: U.S. Stocks Closing on Bigger August Gain Than Bitcoin – Omkar Godbole Token watch SushiSwap ( SUSHI ): Alternative to Uniswap is poised to become next DeFi meme with new liquidity incentive . YearnFinance ( YFI ): Delta Exchange launches perpetual swaps for YFI tokens , with 20x leverage and margined and settled in bitcoin, as Forbes calls YFI ” the altcoin star .” Chainlink ( LINK ): DeFI oracle provider buys Cornell University’s privacy oracle solution DECO for undisclosed sum, as Oasis Network announces integration. Ethereum Classic ( ETC ): Frequently-attacked blockchain gets hit by third 51% attack in a month . What’s hot Japan’s SBI Holdings launches short-term crypto derivatives (CoinDesk) Inflation will outstrip both bond yields and corporate earnings for the foreseeable future (CoinDesk) Bitcoin locked in DeFi rises to record 55,000 as HODLers hit with FOMO (CoinDesk) Chinese bank disables digital yuan wallet after soft launch drawing widespread attention (CoinDesk) Mr. Powell, if you want higher inflation, give people money (CoinDesk) Analogs The latest on the economy and traditional finance Tens of thousands of furloughed U.S. jobs at risk of becoming permanent (WSJ) Worries persist over whether ratings firms are accurately assessing the risks in CLOs (WSJ) American households and businesses are too indebted to cope with sustained deflation (CoinDesk) Wall Street’s fear gauge is rising again, even as stocks keep pushing higher (Reuters) Australia’s reserve bank says home prices could fall as much as 40% (News.com.au) Inflation needs to average 3.2% over next five years to average 2% over decade through 2025 (WSJ) The Fed is basically “green lighting” consumer prices, and inflation expectations are rising in the bond market (Bank of the West) Tweet of the day Related Stories First Mover: Huobi Takes On OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry First Mover: Huobi Takes On OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry || Russian Voters’ Data on Sale After Blockchain Poll to Keep Putin in Power: Report: Hackers are reportedly selling the personal data of over a million Russians who voted electronically, using blockchain technology, during the recent constitutional amendment process.
Over 1.1 million data points were stolen and put on sale for $1.50 each on the online forums, the Russian newspaper Kommersantwrote. The data, consisting exclusively of passport numbers, has little value on its own, the anonymous sellers admitted to Kommersant. But such data can be used for phishing attacks when combined with information from other leaked databases.
Moscow’s Department of Information Technologies, which is responsible for the design of the voting system, denied the report in an email to CoinDesk.
Related:NetWalker Ransomware Gang Is Storing $7M in Bitcoin in SegWit Cold Storage
“The department is regularly monitoring the internet for publications of such data, including the darknet. The database mentioned in the publication has nothing to do with the list of voters who registered to vote online,” the department’s press office wrote, adding that the information on the Moscow city hall’s servers was properly protected and “there had been no leaks since the beginning of 2020.”
See also:Putin Signs Russian Crypto Bill Into Law
The online voting was a part ofnationwide votingdedicated to the amendments to the Russian constitution, which, among other things, eliminated the two-term restriction for presidents, effectively allowing Vladimir Putin to stay in power longer.
The online voting system, based on Bitfury’s open-source Exonum blockchain and built with thehelp of Kaspersky Lab, was previously reported to have poor data protection. Journalists were able todecrypt people’s votesas well as pull passport numbers out of aweakly protected fileposted online by the authorities, a Russian media outlet Meduza wrote.
Related:Putin Signs Russian Crypto Bill Into Law
The voting took part during the last week of June and ended July 1, both online and at the physical polling stations. Municipal authorities’ employees were forced to vote electronically, BBCreported.
In ablog postearlier Tuesday, department representative Artyom Kostyrko said the department compared the screenshot the seller provided with the voter database, and the information didn’t check out. However, according to the founder of the cybersecurity firm DeviceLock, Ashot Oganesyan, the database was genuine and has been on sale for a while now.
See also:Russia’s FSB Is Making Life Harder for Blockchain Companies
Kaspersky declined to comment on the security issue when asked by CoinDesk.
In Russia, every citizen older than 14 has a passport, which serves as a universal ID for any kind of interaction with the government. Each passport has a unique number, and those numbers have reportedly been retrieved from the online voting system and put on sale.
Russia isplanning to expandthe practice of online voting, despite the issues mentioned above. The previous blockchain voting experiment by Moscow, which took place in the fall 2019, used the Ethereum blockchain and also turned out to haveweak security.
• Russian Voters’ Data on Sale After Blockchain Poll to Keep Putin in Power: Report
• Russian Voters’ Data on Sale After Blockchain Poll to Keep Putin in Power: Report || Bitx Executives Andy Pau Makes New Bitcoin Prediction Which Is Already Coming True: HONG KONG,CHINA / ACCESSWIRE / July 22, 2020 /Bitx Executives Andy Pau gave his prediction of Bitcoin in 2020, predicting a market crash. Andy Pau stated that Bitcoin would not be able to remain as high, and that it will follow other markets, which has already happened an hour ago when the coin crashed to $6,000. Andy Pau then predicted that BTC will surge back to $10k, and eventually $20k towards the end of the year.
Bitx Executives, Andy Pau, recently announced his new prediction regarding the future of Bitcoin price. His post, called "A look into my trader brain during this time of intensemarket volatility," gives a view of Bitcoin, as well as of global markets.
Andy Pau noted that the declaration of the global pandemic by the World Health Organization (WHO) and the return of macroeconomic volatility, have had a negative impact on the Bitcoin price. Even so, Bitcoin managed to outperform most otherindexesin 2020 so far, he says.
However, he also stated that he expects BTC to be dragged down as well, alongside global markets, although not as far as many others have predicted. He expects that the coin is likely to drop somewhere between $6,000 and $7,000, although he doesn't believe that the situation will be so dire as to see BTC sink back down to $3,000.
Bitcoin will surge to $20k by the end of the year, claims Bitx Executives
The reason for this, according to Andy Pau, is thatcrypto hedge fundsare likely to dump their coins into a falling market, which would push the price lower on the margin. At some point, he also predicted that central banks will "cut rates to zero" and proceed to announce open ended quantitive easing.
When this happens, Andy Pau believes that BTC will surge back up, initially to $10k, and then to $20k as the year approaches its end. It will be a gradual process, according to him, but it will still happen, which is why he recommends buying BTC and stocking up on altcoins, as well.
So far, his predictions came true, as Bitcoin has just crashed to $5,900, then recovered by growing back to $6,700, only to drop again to thecurrent $6,000. Whether it will stabilize here or continue to rise and drop still remains uncertain. However, the coin - as well as most other altcoins - has seen massive drops, often above 20% or even 30%. The question now is whether or not investors should trust someone who benefits from his users' financial loss, While his predictions of BTC crashing did come true, the rest is still in the air and remains to be seen.
Media contact
Company: Bitx technology limited
Contact: Andy Pau
Email:contact@bitx.net
Tele: 00852 67304930
Website:https://www.bitx.net/
SOURCE:Bitx technology limited
View source version on accesswire.com:https://www.accesswire.com/598431/Bitx-Executives-Andy-Pau-Makes-New-Bitcoin-Prediction-Which-Is-Already-Coming-True
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27
|
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 2018-04-26]
BTC Price: 9281.51, BTC RSI: 61.14
Gold Price: 1316.30, Gold RSI: 41.92
Oil Price: 68.19, Oil RSI: 62.03
[Random Sample of News (last 60 days)]
Bitcoin Price bBounces Back From Dip; Intraday Cap Below $8,200: IMF Chief, Christine Lagarde Says Cryptocurrencies Can Transform Financial Activity: “Before crypto-assets can transform financial activity in a meaningful and lasting way, they must earn the confidence and support of consumers and authorities,” Christine Lagarde.
• BTC/USD is testing the short-term resistance level at $8,100, but short-term support is at $8,000.
Bitcoin price dipped below yesterday’s highlighted support at $8,000 to trade below $7,800. The selloff has been linked to a couple of events that took place on Tuesday. A couple of individuals were reported to have sold cryptocurrencies worth millions of dollars while the New York Attorney General office made an announcement that it will be looking into cryptocurrency exchanges. An unknown investor sold 6,500 Bitcoins yesterday while another liquidated $6,600 on Monday. It is, however, not clear which one of these events cause the $200 dip in Bitcoin price.
In othernews, Christine Lagarde, the Chief of International Monetary Fund expressed her views about cryptocurrencies in an official blog post saying:
“Before crypto-assets can transform financial activity in a meaningful and lasting way, they must earn the confidence and support of consumers and authorities...An important initial step will be to reach a consensus within the global regulatory community on the role crypto-assets should play. Because crypto-assets know no boundaries, international cooperation will be essential.”
These comments are working as a boost to Bitcoin as the sentiments change positively across the market. Bitcoin price is staging a recovery after an extended selling period this year and Christine Lagarde’s comments have come at the right time.
Technically,Bitcoin priceis exchanging hands above $8,050, after staging a sharp rise from last night’s dip. BTC/USD is testing the short-term resistance level at $8,100, although there is looming bear pressure that could force a lower correction. On the downside, the MACD is in the negative region to signal that the path of least resistance is to the downside. Significantly, the 23.6 percent Fib retracement level will provide short-term support at $8,000, but the major support zone lies at $7,870.
BTC/USD 240’ chart
See more from Benzinga
• Bitcoin Cash Price Analysis: BCH/USD Rocketed To Consolidate Above 0, Price Battling To Balance Above 0 level
• Ethereum Price Analysis: ETH/USD Pulling Up From The 3 Overstretch Low, Buyers Eyeing 0
• LTC/USD Still Stuck Within The Long-term Contracting Triangle; Price Testing February Lows
© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Price of Gold Fundamental Daily Forecast – Uncertainty Over Tariffs Could Lead to Rangebound Trade: Gold prices are trading higher early Friday in reaction to a weaker U.S. Dollar. Traders are afraid that President Trump’s decision to impose trade tariffs on steel and aluminum imports may lead to retaliation that should have a negative effect on the U.S. Dollar which could conceivably provide gold with some support. At 0854 GMT, April Comex Gold futures are trading $1318.50, up $13.30 or +1.02%. Daily April Comex Gold On Thursday, the Trump administration said the tariffs would protect U.S. industry, but the dollar and stocks fell sharply as the plan sparked fears of a trade war and worries about its potentially negative impact on the world’s largest economy. Trader reaction to this news had a positive effect on gold prices. Earlier in the session, Federal Reserve Chairman Jerome Powell offered up some negative news. In his second day of testimony this week, Powell said there was no evidence the U.S. economy is overheating, and labor markets may still have room to improve as the central bank sticks with a gradual pace of rate hikes. Forecast The main trend is down in gold on the daily chart, but on Thursday, the market found support inside a major retracement zone at $1306.60 to $1291.50. It would be easy to say that aggressive counter-trend buyers stopped the selling on Thursday at $1303.60, however, this isn’t how the events unfolded. The surprise tariff actually triggered a short-covering rally. The battle lines have been drawn. Both bullish and bearish gold traders are going to watch and react to the direction of the U.S. Dollar. The dollar is likely to weaken if Canada, Asia and Europe decide to retaliate against the new U.S. tariffs. Losses could be softened by higher U.S. Treasury yields, which tend to make the dollar a more attractive investment. A weaker U.S. Dollar should be supportive for gold prices. At this time, all we have is the trend, the support zone and uncertainty over the timing of the expected retaliation. Because of this, I suspect gold is going to become rangebound until investors decide how to play the market. Story continues The trend is clearly to the downside, but if there is enough uncertainty, we could see a counter-trend short-covering rally in gold over the near-term. This article was originally posted on FX Empire More From FXEMPIRE: DAX Index Daily Fundamental Forecast – March 2, 2018 Bitcoin hits $11,000. Will the Bitcoin Bulls still be there on Saturday? EUR/USD Mid-Session Technical Analysis for March 2, 2018 Gold Prices Bounce Off Lows Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/03/18 US Dollar Index (DX) Futures Technical Analysis – Closing Price Reversal Top Could Trigger Move into 89.52 to 89.20 || 65% of Baby Boomers Are Making a Huge Financial Mistake That Could Leave Them Broke: Each day, around 10,000 baby boomers in the United States hit their retirement age, according toThe NHP Foundation. Unfortunately, many of them are woefully unprepared for retirement, lacking sufficient retirement savings or a retirement budget.
While soon-to-be retirees could face lots of money issues, there's one particular issue that has left the majority of retirees at risk of financial disaster: healthcare. When the NHP Foundation surveyed non-retired Americans ages 50 and over, they found 65% of boomers had no plan at all to handle unforeseen health-related expenses.
Image Source: Getty Images
Many pre-retirees think they don't need to worry about healthcare because they anticipate care costs will be covered by Medicare.
But the reality is that Medicare makes seniors responsible for picking up a significant percentage of their cost of care. Seniors may face high deductibles, coinsurance costs, premiums, and coverage limitations.
• Medicare Part A, which provides hospital coverage, has a $1,340 deductible; seniors hospitalized for more than 60 days during the year must pay a daily coinsurance cost.
• Medicare Part B, which provides for routine care, has a 20% coinsurance cost.
• Medicare Part D, which provides prescription drug coverage, has a coverage gap you fall into once you've exceeded $3,750 in covered drugs in 2018.
There are also manyservices Medicare doesn't cover, including hearing aids, long-term care, and dental care.
Because of coverage limitations, seniors must pay a portion of routine costs. In 2015, for example, The Commonwealth Fund found seniors with Medicare pay around 13% of healthcare expenditures out-of-pocket. This may seem fine if you have minor issues, but serious health problem are common, with 34% of current retirees responding to aNationwide surveyreporting health issues that interfere with retirement.
If you have a big problem, such as a stroke, could you afford 13% of $60,000 in treatment costs? What about $370,000 for care for you and a spouse? That's the amount the Employee Benefit Research Institute estimated a senior couple with high prescription use wouldneed during retirement. And that doesn't even factor in long-term care, which could cost as much as $100,000 annually.
The numbers above should have you convinced you need a plan to cover healthcare costs, but it can be hard to know where to start.
First, if you're eligible based on having a high-deductible health insurance plan, contribute to a health savings account (HSA). You can contribute up to $6,850 in 2018, if you have family coverage, and canleave the money invested.
Contributions to an HSA are made with pre-tax funds and the money can grow and be withdrawn without owing taxes, as long as it's used for qualifying health expenditures. If you contribute and invest when you're as young as possible and leave HSA money alone until you're a senior, you should have a generous nest egg to cover care.
If you're already retired or nearing retirement, you may not have time to build up a big balance in your health savings account. If that's the case, consider whether your other retirement savings provides enough money to cover care costs. If it doesn't, you may need to work a little longer or look for a part-time gig in retirement to supplement your care expenditures or save for care down the road.
You can also look forways to cut costsor find third-party sources of payment for the care you need. Purchasing a comprehensiveMedigappolicy is likely a good investment, and you should discuss with your doctor whether generic medications would work for you and ask for other suggestions your doctor may have for reducing costs.
Qualifying forMedicaidcould also help you afford care costs by subsidizing Medicare premiums and paying for some services not covered by Medicare, such as routine nursing home care. While there are strict asset limits to obtain Medicaid, an attorney can help you to develop a plan that protects your wealth and still allows you to obtain coverage.
Whatever approach you decide to take, today's the day to start making plans for how you'll cover healthcare costs as a senior. Yourchances of a serious health issuego up dramatically as you age, and you don't want to be left unprepared, without the cash to cover you when you need care the most.
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The Motley Fool has adisclosure policy. || Bitcoin Will Be World's 'Single Currency' Says Twitter CEO: Jack Dorsey, chief executive of Twitter and payment company Square, has spoken of his strong belief in the future potential of bitcoin. In an interview with The Times  published Wednesday, Dorsey, himself a noted bitcoin investor, said he believes the cryptocurrency will take over the U.S. dollar's dominant place in world finance and become the primary global currency for payments. Suggesting the shift could happen in 10 years or perhaps less, the entrepreneur said: Uphold Adds Buy and Sell Options for Ripple's XRP "The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin." While conceding that bitcoin is faced with scaling issues right now, making it "slow and costly," Dorsey nonetheless argued that new solutions will ease that difficulty in the end. "As more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable," he said. In fact, Dorsey is putting his money where his mouth is in an effort to bring about faster, cheaper bitcoin transactions. Bitcoin Cash Bull Failures Could See Traders Move to Bitcoin Last week, CoinDesk reported that Dorsey had participated in a funding round that raised $2.5 million for Lightning Labs. The startup has notably just launched its beta version of the Lightning Network, a protocol layer built above the bitcoin blockchain to speed up the transaction process, as well as lower fees. The investment followed Square's trial , announced last November, which allowed limited users to buy and sell bitcoin over its payment application, Cash App. Following the test, Square is now offering the bitcoin service in the U.S. state of Wyoming, and is reportedly seeking for a so-called "BitLicense" to extend the option to New York. Image via Flickr Related Stories Why Bitcoin's 'Death Cross' May Be a Bear Trap Reddit Drops Bitcoin Payment Option For 'Gold' Membership || Acquisitions, International Demand Lift McCormick: Everyone likes a little spice in their lives, and McCormick (NYSE: MKC) provides a wide variety of spices and flavors for consumers as well as the restaurant and food industries. You'll find McCormick products not just in bottles in your local grocery store's spice aisle but also among the ingredients in snacks and other grocery items. Coming into Tuesday's fiscal first-quarter financial report, McCormick investors wanted to see continued signs of growth . The spice specialist was able to deliver an extra kick in its bottom line, with especially good results coming from recent acquisitions and favorable growth trends in its international markets. Let's look more closely at McCormick to see how its latest news led to a nice surprise for its employees. Packages of McCormick spices with spoonfuls of various spices highlighted. Image source: McCormick. McCormick starts 2018 strong McCormick's fiscal first-quarter results were well-received. Sales climbed by 19% to $1.24 billion, just about matching the consensus forecast among those following the stock. One-time items had a huge positive impact on McCormick's bottom line, but even after taking those factors out, adjusted net income soared 39% to $133.2 million, and the resulting adjusted earnings of $1 per share far exceeded the $0.91 per share that most investors were looking to see. Tax reform provided a huge benefit to McCormick . The company reported a $297.9 million gain, as the revaluation of net U.S. deferred tax liabilities due to the lower corporate tax rate in future years more than offset the cost of the one-time tax on deemed repatriation of foreign earnings (an approach that assumes all foreign profits have been brought back and so they are taxed promptly). Acquisitions continued to play a key role for McCormick. The purchases of RB Foods and Giotti represented 12 percentage points of the spice maker's year-over-year revenue growth. In the consumer segment, RB Foods in particular was responsible for two-thirds of the 19% rise in segment sales, with currency impacts adding another 4 percentage points. A similar story held for the flavor-solutions division, where acquisitions made up 12 points out of the overall 18% segment growth rate. Story continues Fundamentally, McCormick also remained strong. Gross margin improved by nearly 2.5 percentage points during the period, largely because the spice maker was able to focus more attention on higher-value products. Operating income for the consumer segment jumped 35%, while flavor solutions saw an even bigger rise of more than half over year-ago figures. From a geographical standpoint, performance in the Asia-Pacific region was especially noteworthy, with China and India helping to drive consumer sales in the region higher by 12% and flavor solutions revenue by 11%. Favorable currency impacts helped most of McCormick's international market performance, but a rising number of quick-service restaurants in China has helped boost demand for the spice maker's products. CEO Lawrence Kurzius was happy with the performance. "McCormick's first quarter results were a great start to fiscal year 2018," Kurzius said, "as we continue to build on the momentum of our milestone year in 2017." The CEO called out much stronger operating margin figures as key attributes of its success thus far. Can McCormick stay spicy? McCormick has high hopes for the coming year. According to Kurzius, "Through the execution of our strategies, we are becoming even better positioned to drive future growth and are confident in our continued success." Positive adjustments to McCormick's guidance reflected that enthusiasm. The company increased its sales growth projections, now expecting 13% to 15% gains for fiscal 2018 due largely to better currency-exchange factors than expected. McCormick also raised its adjusted earnings guidance by $0.05 per share, with a new range of $4.85 to $4.95 per share. The company attributed this increase mostly to lower tax rates. Separately, McCormick also said that it would offer hourly employees $1,000 one-time bonus payments as a reinvestment of savings from tax reform. The company also announced more lasting changes to accelerate hourly-wage increases to remain competitive and attract talented workers. The plan is just one element of McCormick's overall strategy to use tax savings effectively, and the spice specialist expects to pay down debt, return capital to shareholders, and potentially make other acquisitions to drive growth. McCormick investors were pleased with the report, and the stock climbed more than 3% in pre-market trading following the announcement. The spice giant has done a good job so far of executing on its strategic priorities , and there's plenty of runway left for McCormick to keep taking advantage of improving industry conditions to bolster its growth. 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 recommends McCormick. The Motley Fool has a disclosure policy . || Here's Who Wins If Apple Inc. Ditches Intel Corp.: Earlier this month, BloombergreportedthatApple(NASDAQ: AAPL)has greenlit a plan to begin moving its Mac processors away fromIntel-(NASDAQ: INTC)based processors and toward Apple-designed ones.
Such a move would obviously hurt Intel's personal computer chip business, likely resulting in a revenue reduction in theneighborhood of $3 billion annually(assuming that Apple switched entirely away from Intel).
Image source: Apple.
I don't think we have the whole story available yet. For example, does Apple, in fact, plan to switch entirely away from Intel chips in the Mac, or does it only plan to shift some Mac computers over to Apple-designed chips? Nevertheless, if we assume that a wholesale switchover is what Apple has in mind, there's one company that'd be set to benefit:Taiwan Semiconductor Manufacturing Company(NYSE: TSM).
Today, TSMC is Apple's main manufacturing partner for the A-series processors found inside of the iPhone and iPad. TSMC is responsible for building all of Apple's A10 Fusion, A10X Fusion, and A11 Bionic processors that power most of Apple's iPhone and iPad lineup. TSMC and rivalSamsung(NASDAQOTH: SSNLF)currentlysplit the ordersfor the A9 processor that powers the older iPhone 6s-series smartphones as well as the iPhone SE.
Given TSMC's success in winning Apple's chip orders thus far and given the apparent strength of the company's future manufacturing technology roadmap (Apple is expected to use TSMC's latest 7-nanometer technology to build itsupcoming A12 chip), I think TSMC is the most likely candidate to manufacture any potential Mac-specific applications processors for Apple.
If Apple were to go all-in on trying to build a truly leadership set of processors for its Mac computers, then I would expect Apple to work closely with TSMC to customize variants of its chip manufacturing technologies specifically for chips that target the kind of power envelopes at which a chip powering a Mac would run (e.g., 15W to 45W).
That customization, coupled with design, architecture, and software work on Apple's part, could lead to a final product that's quite compelling and potentially worth moving away from Intel for (especially given Intel'songoing manufacturing struggles).
Since Apple's Mac lineup is relatively small -- Apple ships about 20 million Mac computers each year -- Apple would only be buying a maximum of 20 million chips from TSMC each year to support an all-Apple-processor-powered Mac lineup.
While such chips would likely be a bit larger than the typical iPhone/iPad chips (meaning that TSMC would generate more revenue per Apple-designed Mac chip than it currently does from the iPhone/iPad chips), the potential revenue impact would be a nice boost, but nothing game-changing.
Putting some numbers to this, IHS Markitestimatesthat the A11 Bionic chip runs Apple $27.50, so if we assume that Apple pays TSMC around $35 for a more complex Mac chip, then the potential revenue boost to TSMC would be on the order of $700 million annually, or a mere 1.9% increase from the $36.7 billion in revenue that the contract chip manufacturing giant is expected to generate this year.
Nothing to sneeze at, but nothing that would fundamentally change the investment thesis around TSMC, either.
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Ashraf Eassaowns shares of Intel. 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 Intel. The Motley Fool has adisclosure policy. || With Market Volatility, Markel Leans on Insurance Strength: Markel Corporation (NYSE: MKL) announced first-quarter 2018 results on Tuesday after the market closed, punctuated by a net loss from the financial holding company's investment portfolio. But in keeping with executives' methodical approach to generating shareholder value, Markel management took the opportunity to showcase the merits of their long-term thinking and diversified business operations. Let's dig deeper into how Markel started the new year, as well as what investors should expect from the company going forward. Man wearing khakis and an Oxford shirt standing on a ladder and spray painting a rising chart on a brick wall Image source: Getty Images. Markel results: The raw numbers Metric Q1 2018 Q1 2017 Year-Over-Year Growth Operating revenue $1.575 billion $1.412 billion 11.6% Net income (loss) to shareholders ($64.3 million) $71.0 million N/A Net income (loss) per diluted share ($4.25) $3.90 N/A Book value per share $671.05 $620.30 8.2% Data source: Markel Corporation. What happened with Markel this quarter? Markel's net loss was negatively impacted by the adoption of new accounting standards implemented at the start of the year, which required recognizing a $122.1 million pre-tax loss related to the decline in fair value of its equities portfolio since the end of 2017. It also included a pre-tax foreign currency loss of $22.1 million, and a non-recurring tax expense of $99.5 million. Markel's comprehensive loss to shareholders -- which notably includes a $116.1 million decline in net unrealized gains on available-for-sale investments (net of taxes) -- was $174.8 million. At investment operations: Net investment income increased 7.6% to $108 million, driven by higher short-term interest rates and higher dividend income from equity investments. Total invested assets were $20.3 billion as of March 31, 2018, down from $20.6 billion at the end of 2017. Equity securities were $5.9 billion, or 29% of invested assets, down from $6 billion at the end of last quarter. Net unrealized gains on investments (net of taxes) were $3.4 billion as of March 31, 2017, down from $3.7 billion at the end of last quarter. At insurance operations: The consolidated combined ratio for Markel's insurance operations was 90% -- which means it earned $10 for every $100 in premiums it wrote -- including combined ratios of 97% from reinsurance, and 89% from Markel's combined U.S. and international insurance segment. Gross premium volume in underwriting operations grew 9% year over year to $2.047 billion. Note this doesn't include roughly $461.2 million of gross premiums written through Markel's program services business, which was acquired through its purchase of State National in late 2017. Essentially all gross premiums written through that business were ceded to third parties this quarter. At Markel Ventures: Operating revenue grew 36.6% to $392.1 million, driven primarily by the acquisition of Costa Farms in last year's third quarter . Ventures' net income to shareholders fell slightly year over year to $13.6 million, largely due to lower revenue and higher costs at one of Markel's industrial products businesses, as well as the impact of acquisition expenses and lower seasonal sales from Costa Farms. Segment EBITDA grew 3.4% to $46.6 million. Story continues What management had to say Co-CEOs Richard Whitt and Tom Gayner together stated: Our underwriting results for the quarter were solid and reflect profitable growth from recent acquisitions as well as our continued focus on underwriting discipline. Comprehensive loss to shareholders and book value per share were impacted by declines in both our fixed income and equity portfolios, driven by an increase in interest rates and unfavorable movements in the equity markets during the period. However, we continue to maintain a long-term focus with our investment strategy. Contributions from our Markel Ventures operations reflect both organic growth and the recent acquisition of Costa Farms. During the subsequent conference call, Gayner reiterated that Markel's "short-term investment results reflect normal short-term volatility," and are essentially in line with changes in both equity markets and interest rates. Gayner also offered this perspective: In our equity portfolio, we were down 1.3% during the quarter. Over the last five and a quarter years, we're up 216% cumulatively. Over that time frame, we've been up as much as 33% in a single year and down as much as 2.5% in a year. I would happily sign up for those results for the next five years. And we continue to invest each day with the same discipline that has produced such outstanding long-term results. Looking forward Markel doesn't offer specific financial guidance. But while this quarter may not look great after a quick glance at the headline numbers, it represents a continuation of Markel's proven efforts to consistently grow its various businesses and generate market-beating returns in the process. And I think patient, long-term shareholders should be more than happy with its progress to that end. 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 Steve Symington owns shares of Markel. The Motley Fool owns shares of and recommends Markel. The Motley Fool has a disclosure policy . || Congressional Hearings: We Must Distinguish Digital Commodities From ICOs: U.S. Congress Hearing Addressed the Need to Distinguish Digital Commodities From ICOs On March 14, 2018, the House Financial Committee held a hearing entitled “Examining the Cryptocurrencies and ICO Markets.” This was the first hearing in which members of the U.S. Congress, specifically a subcommittee on capital markets, securities and ICO markets, addressed cryptocurrencies and ICOs. Witnesses at the hearing included Dr. Chris Brummer, Professor of Law at Georgetown University Law Center; Mike Lempres, chief legal and risk officer at Coinbase; Robert Rosenblum, a partner at the Silicon Valley law firm Wilson Sonseni Goodrich & Rosati; and Peter Van Valkenburgh, the director of research at Coin Center. The hearing addressed the economic efficiencies and potential capital formation opportunities that cryptocurrencies and ICOs offer to businesses and investors. It also reviewed the current approach by the SEC, CFTC and state regulators to administer laws which adequately protect investors. Because regulatory clarity so far has been difficult for businesses and investors, members of Congress also expressed interest in how to best monitor and oversee blockchain technology as it moves into the future. Notable points asked of and addressed by the witnesses included the need for security and investor compliance for U.S. cryptocurrency exchanges; the need (or in Rosenblum’s case, lack thereof) for regulators to distinguish the difference between cryptocurrencies that are considered digitally scarce commodities and securities tokens; the need to establish a harmonization among the “patchwork” of regulatory agencies dictating how to move forward; and the policing of cryptocurrencies, all in such a way that won’t stifle domestic innovation by forcing investors and businesses to leave the country. Distinguishing major cryptocurrencies from the majority of ICO tokens was the biggest topic of conversation during the hearing. Van Valkenburgh noted that digital scarcity is a fundamental difference between ICOs and cryptocurrencies such as Bitcoin, Ethereum and Filecoin. “The fundamental innovation of Bitcoin is digital scarcity. That digital scarcity can then be employed by innovative people for a variety of innovative purposes. A token that is scarce and transferable from person to person can be used just like money, just as any good throughout history from gold to seashells. A scarce token can also be automatically redeemable for a digital good or computing service provided by the same network of computing participants who verify the blockchain. These are projects like Ethereum, Filecoin and Blockstack and they are beginning to compete with competitors like Amazon, Facebook and Google. A scarce token can also represent a legal agreement.” Van Valkenburgh went on to distinguish scarce tokens already put into practice from others that are merely theoretical, supported only by blockchain software that has yet to be built. Recently, new blockchain projects have raised money by selling the promise of future tokens to willing investors in ICOs. He went on to state that the former scarce tokens are like digital commodities while the latter (ICOs) are securities, both having distinct risks that must be addressed by investors in different ways. Rosenblum suggested a short– and long-term approach for the SEC and other agencies to modify the regulation rules around cryptocurrencies so that the industry does not get locked into a concrete regulatory system too early. He used the combination of blockchain technology with artificial intelligence to convey why imposing regulations at this time would not be a good idea: On the subject of regulating ICOs, Brummer emphasized the need for standardized and precise promoter disclosures for investor protection. Speaking primarily about cryptocurrency white papers, essentially the business and technological plan behind each cryptocurrency, Brummer gave a list of recommended standardized disclosures: Brummer concluded by saying that white papers should also disclose the basic principles of blockchain governance and risk factors, not only for the token itself, but also for the industry as a whole. Brummer stated that one major point of contention for government regulators on cryptocurrencies might be the fact that “because digital things tend to be more abstract and they therefore tend to be harder to understand,” there is more tension and difficulty in defining them as commodities, unlike gold which is “shiny and universally identified as something that has value.” Huizenga, in turn, acknowledged that “governmental bureaucracies tend not to view the world through those lenses. And I think that there is a certain governmental responsibility to protect investors.” While distinguishing between a digitally scarce commodity and a security appeared to be the most fundamental and pressing issue, all testifying witnesses acknowledged the need for clear lines in which regulatory agencies operate and monitor the industry. This confusing and often contradictory relationship between the SEC vetting cryptocurrencies, the CFTC policing cryptocurrencies on the spot market, and state regulators has already indicated a level of disorder that could potentially stymie further development within the domestic cryptocurrency and blockchain technology industry. Again, Van Valkenburgh reiterated that if policymakers get the distinction between digitally scarce commodity tokens and security tokens wrong, they will cede leadership of the technology development to the rest of the world. Rosenblum suggested that, moving forward, “regulation by enforcement, in an area that is as complicated and dynamic as this, is not the appropriate way to regulate. Enforcement is clearly necessary; however, we need clearer guidelines on the SEC’s registration, market trading and how investment rules should apply and do apply, and that is something that you cannot do through regulation and enforcement.” Congressman Hultgren expressed concern over cybersecurity standards within cryptocurrency. Addressing these concerns, Lempres stated, “Approximately 99 percent of Coinbase cryptocurrency holdings are held in cold storage.” Furthermore, 20 percent of Coinbase’s employees are dedicated to compliance. Lempres also pointed out that the blockchain’s transparent ledger allows for Coinbase to glean insight into bad activity occurring within their system. Lempres also referred to the cybersecurity standards of the state of New York’s “BitLicenses.” So far these BitLicenses have only been administered to four cryptocurrency companies — including Coinbase — and that is the strongest evidence for the security standardization, according to Lempres. Voicing disapproval of cryptocurrency, no one was more direct than Congressman Brad Sherman. “Cryptocurrencies are popular with guys who like to sit in their pajamas and tell their wives they are going to be millionaires. They help terrorists and criminals move money around the world. Tax evaders. They help startup companies commit fraud, take money, and one percent of the time they actually create a useful business.” Sherman went on to suggest that cryptocurrency hurts the U.S. dollar, prevents the federal government from preventing tax evasion, and takes away from investment that could otherwise be used to develop the American economy. Chairman Huizenga noted that, despite Sherman’s comments, the hearing was to focus on cryptocurrency and blockchain technology and not Dodd Frank reform . On the other hand, Rep. Tom Emmer, a member of the Congressional Blockchain Caucus, suggested that the potential for innovation from blockchain technology in American society is something both Republicans and Democrats should welcome. Story continues Digitally Scarce Commodities and Security Tokens From a regulatory standpoint there is a fundamental distinction that must be made between scarce tokens that exist on a blockchain and are used for payment or to obtain computing services and, on the other hand, promises of future tokens representing the hopefully profitable efforts of a developer. It could potentially lead to new marketing, business opportunities, scientific and sociological advances. However, the opportunity to use that same technology for manipulative conduct, data breach and other nefarious conduct is really hard to predict right now. Location : Brummer cited one particular study which indicated that in 32 percent of ICOs it is not possible to identify the identity or origin of the ICO issuer or promoter. Without having this information it is very difficult for investors to understand the protection rights or authorities they can contact in case of fraud. Therefore, ICO promoters or issuers should establish a clear statement of where an issuer is located. Problem and proposed technology solution : The most important information for assessing the success of an ICO is understanding its proposed solution for how the technology will solve a problem: a plain-English explanation of the technology solution. More technical aspects of the white paper would be subject to the validation of a third-party technology audit. All code would be subject to a public repository such as GitHub. Token proposal: An ICO’s white paper should disclose legal rights of token holders as well as how the tokens will be traded and on what platforms. A Patchwork of Regulatory Agencies Security and Compliance Voices For and Against I tend to trust people and believe that they’re in these things for good, and that they’re trying to improve their own lives and hopefully the lives of people around them — that old adage that a rising tide lifts all boats. And yet I hear elected officials who don’t have any concept of what we’re dealing with here and how exciting it is, talking about how we got to regulate and create more government infrastructure. I respectfully disagree that that won’t act as a wet blanket on this amazing new technology. I realize there has to be some regulation, but there’s got to be balance. This article originally appeared on Bitcoin Magazine . || The Economics of Intel Corp.'s Rumored 8-Core Chip: In October 2017, chip giantIntel(NASDAQ: INTC)introduced its Coffee Lake family of processors for the desktop personal computer market. The key improvement that these new chips delivered was an increased core count from their predecessors for roughly the same price.
In effect, Intel began selling six-core processors for the same prices that it previously sold four-core processors and it offered four-core processors for the same prices that it sold dual-core chips.
Image source: Intel.
To deliver these additional cores, Intel had to increase the sizes of its chips. Increases in chip sizes, all else being equal, mean that the manufacturing costs of those chipsmove up.
In a few months, Intel is expected to introduce yet another derivative of its Coffee Lake processors, but this timewith eight cores, up from the six found in the current top-end models. This processor is expected to help both spur replacement demand among current customers while also helping to bolster its positioning in an increasingly fierce competitive environment.
Let's go over the potential economics of this upcoming eight-core chip and what they'll mean for Intel's business.
Intel's quad-core Kaby Lake processor is believed to measure in at 123 square millimeters. The hex-core Coffee Lake chip, unsurprisingly, came in at around 149 square millimeters. Coffee Lake and Kaby Lake are nearly identical save for the addition of two cores and cache memory (to keep the amount of cache memory per core constant) on the die.
What this means, then, is that we can estimate the size of the eight-core Coffee Lake chip by adding the chip size difference between Kaby Lake and Coffee Lake to the known Coffee Lake chip size. That number works out to approximately 175 square millimeters -- a 17.4% increase in chip size.
It may be tempting to conclude that the eight-core Coffee Lake chip will cost 17.4% more to manufacture because it'll be around 17.4% larger than its predecessor. Though cost structure is positively correlated to chip size, it's not a linear relation.
This is because of the way that chips are manufactured. Chips are printed on circular silicon wafers. Every wafer produced has a certain average number of defects. Chips that contain defects are either sold as lower-end parts (assuming that the defective region doesn't kill the entire chip) or they're tossed out.
As chip size grows, the percentage of the chips that get hit with these defects goes up since you have a fixed number of defects spread out across fewer chips. This is one reason that chip manufacturing costs can go up by more than chip size increase.
Potentially offsetting this phenomenon, of course, is the fact that the 14-nanometer++ technology continues to mature (meaning that the defect density comes down), so while a six-core Coffee Lake will always be cheaper to build than an eight-core model, an eight-core model launched in June/July of 2018 may be at cost parity to a six-core model at launch in October of 2017.
For some context, Intel claimed that in going from 2016 to 2017, it saw a more-than-$1-billion reduction in 14-nanometer product manufacturing costs, likely reflecting improving yield rates. Intel executives have indicated that the yield rates on its 14-nanometer technology are nearly maxed out (so don't expect as dramatic an improvement in 2018 as what Intel delivered in 2017), but there's probably still room for a material improvement in 14-nanometer manufacturing costs year over year.
Ultimately, the eight-core Coffee Lake chip should be at least 17.4% more expensive to build than its current hex-core counterpart (probably more in the realm of 20-25% taking into account the chip manufacturing issues I outlined above). That's the bad news.
The good news is that Intel should be able to charge more for this eight-core part than it could the six-core part. Additionally, the eight-core part should improve Intel's competitive positioning, particularly as games and other applications increasingly take advantage of additional processor cores, which could lead to market segment share gains (or, at a minimum, a stemming of the loss that it's seen in recent quarters).
The total economic impact from the release of this eight-core part should be good for Intel, even if the chip costs a little more to manufacture than its predecessor did.
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Ashraf Eassaowns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || Is Vanguard High Dividend Yield ETF a Buy?: Dividend stocksoffer a great combination of current income and potential growth opportunities, and many investors have turned to theVanguard High Dividend Yield ETF(NYSEMKT: VYM)to get a diversified selection of high-yielding dividend stocks in a single package. With many high-yield stocks also having defensive characteristics, some conservative investors like funds such as theVanguard ETFas a way of protecting against market downturns.
Yet as we saw in early February, even dividend exchange-traded funds (ETFs) aren't entirely invulnerable from falling markets. That's made some investors think twice about whether Vanguard High Dividend Yield is really a good buy right now. Below, we'll take a closer look at the dividend ETF to see whether it has the legs to last through whatever turbulence the market throws its way.
Image source: Getty Images.
Last year, investors in Vanguard High Dividend Yield didn't have much to complain about. The ETF's total return of around 16% to 17% wasn't quite as strong as the overall market, but that's a price that most investors in the fund are willing to pay in exchange for the perceived lower volatility that dividend stocks have traditionally delivered.
The Vanguard ETF also got out to an evenbetter start to 2018. January's big gains sent the ETF higher by more than 6% at its best point, and many investors predicted even better times ahead for the fund thanks to positive impacts from U.S. tax reform and strong corporate fundamentals.
However, the good times quickly came to an end in late January and early February. Fears about higher interest rates took their toll on the overall market, and Vanguard High Dividend Yield took an especially large hit. The ETF's shares lost more than 10% of their value between Jan. 26 and Feb. 8, offering no real protection compared to the similar 10% correction that major market benchmarks like theS&P 500and theDowsuffered.
A big part of the reason Vanguard High Dividend Yield didn't give investors relatively smaller losses during the recent sell-off has to do with the nature of what caused the correction. Yields on 10-year Treasuries moved sharply higher, with some predicting that they'd eventually hit the 3% level as a result of the upward push. Even though the Vanguard ETF holds plenty of dividend stocks in areas that aren't rate-sensitive or can even benefit from rising rates, many of the dividend-paying giants in its portfolio were among those stocks that led the market to the downside.
More importantly, it's unfair to draw too firm a conclusion from a single downturn in the market. In the past, there have been several occasions during which the Vanguard ETF produced considerably smaller losses than the overall market during periods of poor performance for major market benchmarks. As bond rates start to rise, it's indeed possible that some income investors will shift away from dividend stocks back toward fixed-income investments like bonds and bank CDs. Yet on the whole, given their positive experience both with receiving more income than they could get from the fixed-income sector in recent years and the potential for capital appreciation over the long haul, dividend stocks and the ETFs that own them have demonstrated their long-term value to the investors who've gravitated toward them during the low-rate environment of the past decade.
In the short run, anything's possible for the market, and so making a purchase of Vanguard High Dividend Yield ETF right now isn't sure to make you big money in the next month or even the next year. Yet nothing about the ETF's response to the most recent downturn raises long-term questions about its viability as a suitable dividend-paying investment for most investors. If you need income from your portfolio and want some of the favorable attributes that dividend stocks have, then the Vanguard High Dividend Yield ETF is a smart choice for you.
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Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
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5: Litecoin average price is $113.591 (-0.02% 1h) || #bitcoinZ #BTCZ #binance #eth #btc #btcp #xvg #privacycoin #cryptonews @binance @cz_binance @BittrexExchange @Huobi_Pro @bitfinex @Bibox365https://twitter.com/BitcoinZ_bot/status/981476351776641024 …
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Trend: up || Prices: 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80
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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 2018-11-27]
BTC Price: 3820.72, BTC RSI: 16.60
Gold Price: 1211.20, Gold RSI: 46.11
Oil Price: 51.56, Oil RSI: 22.94
[Random Sample of News (last 60 days)]
Bitcoin drops to one-year low as slump persists; ethereum down sharply: By Gertrude Chavez-Dreyfuss and Tom Wilson
NEW YORK/LONDON (Reuters) - Bitcoin fell to a more than one-year low on Wednesday, breaching a key support level of $6,000 and causing a wave of selling in the digital currency and other crypto assets in what has been a prolonged market slump that began early this year.
Bitcoin fell to as low as $5,533.09 (BTC=BTSP) on the Bitstamp platform. It was down 9 percent at $5,690.47.
"For the last few days you could see the consolidation happening and the price was moving on the downside," said Naeem Aslam, analyst at ThinkMarkets, a multi-asset online brokerage.
"The break of $6,200 yesterday gave a fair indication that there are no buyers on the sidelines at this point," he added.
Bitcoin's weakness spread to other cryptocurrencies, with ethereum, the second-largest, dropping to a two-month low. Ethereum was last down 10 percent at $182.41 (ETH=BTSP).
Wednesday's sell-off in cryptocurrencies pushed the sector's market capitalization to under $200 billion for the first time since around mid-September, according to data from industry data tracker coinmarketcap.com.
"What you are seeing... is a breakout on the downside. Sometimes when things happen, it takes a while for the true reason to become clear - an exchange trade or regulatory action," said Charlie Hayter, founder of industry website Cryptocompare in London.
Other market participants suggested that Thursday's impending "hard fork," or split of bitcoin cash - another cryptocurrency that emerged out of bitcoin - into two separate currencies, has caused some volatility as well.
Twice a year, bitcoin cash undergoes scheduled protocol upgrades, which include splitting its network.
"For our trading activities, the hard fork recently has generated tremendous interest and trading volume, above 4 billion daily, among traders," said Ricky Li, co-founder of crypto trading and advisory firm Altonomy.
Overall, analysts said the outlook for bitcoin remains unclear, with longer-term forecasts dependent on the virtual currency becoming a reliable store of value or a viable payment mechanism.
However, there are growing signs of greater institutional participation in bitcoin, such as increased demand for a bitcoin exchange traded fund and rising bitcoin futures volume, analysts said. But they noted that actual participation remains low among both institutional and retail investors.
(Reporting by Gertrude Chavez-Dreyfuss in New York and Tom Wilson in London; Editing by Chizu Nomiyama and Dan Grebler) || Report: Bitcoin Use in Payments Collapsed This Year: Bitcoin ( BTC ) use for commercial payments has reduced significantly this year, according to a study by Chainalysis cited by Reuters Nov. 20. To prepare the study, Chainalysis reportedly surveyed 17 Bitcoin payment processors. The amount of BTC handled by major payment processors reportedly dropped by almost 80 percent from the beginning of the year to September. The analysis of individual payment processors’ figures reportedly shows a downward trend. At Canadian firm Coinpayments, the value of transactions has fallen by more than half between January and October 2018, Reuters reports, citing data from blockchain analysis site OXT. Lex Sokolin, global director of fintech strategy at research firm Autonomous Next, said that “Bitcoin payments processing is seeing a slow but consistent decline.” Comprehensive data on the leading cryptocurrency used for payments is reportedly not consistent since trades with other currencies are commonly included together with its use for commercial payments. Although Chainalysis recognizes a growing stability of BTC, the value of Bitcoin payments reportedly slumped from $427 million last December to $96 million in September 2018. While many believe that BTC’s relative stability this year will result in the mainstream deployment of it as a payment method by both individuals and commercial organizations, some financial firms and crypto entrepreneurs think that stability is not enough. Joni Teves, a strategist at London-based financial firm UBS , told Reuters that BTC needs to become faster and cheaper, also noting that the development of clearer rules on an asset would help give users a sense of legitimacy. Some major companies that previously accepted BTC have turned away from the cryptocurrency as a payment method. Microsoft announced in January that after almost three years it would stop accepting BTC. However, it did reserve that position after taking its own steps to: “ensure lower Bitcoin amounts would be redeemable by customers.” Story continues The gaming platform Steam also stopped accepting BTC payments in December 2017, over a year after it began accepting Bitcoin when the currency was trading around $450. Among concerns over volatility and regulatory uncertainty, industry players also cite the issue of growing transaction fees and slow transactions speeds as barriers to wider adoption. Related Articles: Poll: Interest in Crypto as Payment Method Makes Small Inroads Among Moscow Residents Tom Lee Maintains $15,000 Year-End BTC Prediction Despite Market Crash Israel: Crypto Investment House Launches Two New Funds for Institutional Clients Major Swiss Stock Exchange SIX Lists World’s First Multi-Crypto ETP Amidst Market Collapse || Newsflash: Canadian Bitcoin Exchange ‘Hacked,’ Says All Funds are Gone: A small Bitcoin exchange based in Alberta, Canada, has gone offline. Before their Twitter page went offline, MapleChange hadannounced on Twitterthat they “[had] no more funds to pay anyone back.”
In the way of an explanation, the exchange had, approximately one hour before deleting its Twitter page, said that a “bug” had enabled “some people” to withdraw all of the funds on the exchange. Educated readers may recall a time when Mt. Goxclaimed similar problems. The handling of the two cases by their administrators was dramatically different. In the case of Mt. Gox, attempts were made to repair the damage, although they resulted in worse damage. They went so far as to near-nakedlymanipulate the Bitcoinprice in an attempt to recoup lost customer funds before anyone found out.
The MapleChange Twitter account possessed less than 2,000 followers.
By contrast,Coinbasehas over 1 million followers on Twitter and lesser-known altcoin exchangeC-Cexhasnearly 100,000. In short, cryptonaughts are generally highly active on Twitter and the viewership on that platform is a semi-decent way to judge the popularity of a product or service in the space.
It’s been some time since we were able to report on a good old-fashionedexit scam. In the crypto space, we have primarily seen them in gambling, the dark web, and exchanges. The recipe is basic: gather trust of some clientele, get all their funds in one place, and run off with the money. It doesn’t actually matter the method by which you run off with the money, whether you claim a hack or simply up and disappear. The less-frequent (today) practice is precisely where the old wisdom of keeping one’s coins off exchanges and the like overnight comes from. You never know what’s going to happen next, and in cryptocurrency, you don’t have anything if you don’t have your own private keys. It’s just the nature of the thing.
Unfortunately, the MapleChange “hack” has all the signs of an exit scam.
For starters, there’s no need for the exchange to delete its social media pages or completely disappear in quite the fashion it has. There is no question that it is in debt to a number of depositors, gratefully a likely small number, but in business such things happen, and that’s what insurance or bankruptcy courts are for.
The short span of time between the announcement of the “bug” and the total disappearance of the exchange or its operators is another signal.
The domain itself,registered at GoDaddy by one “Flavius P,” is suspect. Most professional operations go to some lengths to be above board, especially those that handle other people’s money.
The timing of the problems is another significant factor in guessing that this is not a hack or a bug at all, but rather an elaborate, premeditated scam. As you can see byMapleChange.com’s recent traffic statistics, they were most probably doing more business over the last week than they had in recent times. If they are guilty of fraud, they struck early on a Sunday morning when they likely expected most clients to be sound asleep.
This story will be updated as new information becomes available. MapleChange representatives are welcome to reach out to CCN with more information.
Images from Shutterstock
The postNewsflash: Canadian Bitcoin Exchange ‘Hacked,’ Says All Funds are Goneappeared first onCCN. || Bitcoin Climbs Above 4,034.3 Level, Up 6%: Investing.com - Bitcoin rose above the $4,034.3 threshold on Sunday. Bitcoin was trading at 4,034.3 by 15:40 (20:40 GMT) on the Investing.com Index, up 5.84% on the day. It was the largest one-day percentage gain since November 24.
The move upwards pushed Bitcoin's market cap up to $67.6B, or 54.24% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $3,634.2 to $4,034.3 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 30.69%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $6.9B or 33.53% of the total volume of all cryptocurrencies. It has traded in a range of $3,634.1890 to $5,662.5200 in the past 7 days.
At its current price, Bitcoin is still down 79.70% from its all-time high of $19,870.62 set on December 17, 2017.
XRP was last at $0.36570 on the Investing.com Index, down 9.59% on the day.
Ethereum was trading at $116.75 on the Investing.com Index, a loss of 4.27%.
XRP's market cap was last at $14.2B or 11.39% of the total cryptocurrency market cap, while Ethereum's market cap totaled $11.7B or 9.35% of the total cryptocurrency market value.
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Amber Baldet: Don’t Force Public Blockchains ‘Down Enterprises’ Throats’ || Floaters ETF Floats Higher: This article was originally published on ETFTrends.com. Underscoring investors' preference for conservative bond fare that is less sensitive to changes in interest rates, the iShares Treasury Floating Rate ETF ( TFLO ) hit a three-month high Monday. TFLO was one of just two exchange traded funds to notch that accomplishment. TFLO, which tracks the Bloomberg Barclays US Treasury Floating Rate Bond Index, provides exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates. TFLO limits duration exposure with investments in debt securities with maturities that don’t exceed two years. In addition, at least 80% of its assets will be allocated towards securities comprising the index, such as U.S. dollar-denominated, investment grade floating rate notes. The floating rate allows investors to capitalize on any short-term interest rate adjustments in accordance with monetary policy. Floating rate notes, like the name suggests, have a floating interest rate. Specifically, the notes’ have a so-called reset period with interest rates tied to a benchmark, such as the Fed funds, LIBOR, prime rate or U.S. Treasury bill rate. Due to their short reset periods, these floating rate funds have relatively low rate risk. Related: Investors Continue Flocking to Short-Term Bond ETFs TFLO ETF Details TFLO's effective duration is a scant 0.01 years, according to issuer data . Duration measures a bond's sensitivity to changes in interest rates. As a result of the safe and conservative nature of floating rate bonds, investors should not expect high yields. Nevertheless, Treasury money market funds are so starved for yield that anything with an extra basis point or two and the quality and liquidity of a Treasury security will provide an attractive alternative. Still, TFLO's 30-day SEC yield of 2.15% is decent. The ETF's weighted average coupon is 2.42%. Floating rate notes have a so-called reset period with interest rates tied to a benchmark, such as the Fed funds, LIBOR, prime rate or U.S. Treasury bill rate. Due to their short reset periods, these floating rate funds have relatively low rate risk. Story continues TFLO has seen year-to-date inflows north of $336 million. For more information on the fixed-income market, visit our bond ETFs category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs An Emerging Market ETF That Capitalizes on the Growing Middle-Class Consumer Consider Bitcoin Cash When Crypto Carnage Stops Apple Acquires AI Startup Silk Labs Holiday Shopping Could Top $1 Trillion This Year You’re (Possibly) Richer Than You Think READ MORE AT ETFTRENDS.COM > || Morgan Stanley: Bitcoin is a New Institutional Investment Class: There is arapidly growing interestin bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space.
As such,bitcoinand altcoins now constitute a new institutional investment class since 2017, according to new research from major US bankMorgan Stanley.
In thereport titled“Bitcoin Decrypted: A Brief Teach-in and Implications” and dated Oct. 31, the multinational investment bank’s research department gave an overview of the last six months of bitcoin and brought up insights about observable trends. This new report serves as an update to an earlier report published in December titled “Bitcoin Decrypted: A Brief Teach-in and Implications.”
The findings underscored the researchers’ observation of what the report described as the rapidly morphing thesis of the market, covering evolving perceptions of bitcoin since it was introduced into circulation as “electronic cash” in 2009.
In 2009, bitcoin came into reckoning as a viable alternative to the big banking cartels after it was first issued through open-source software. It attained a cult-like following, and by 2012, it was in the spotlight of mainstream news as the means of transaction in the online black market infamously referred to as theSilk Roadmarketplace. Its growing market capitalization drew the attention of entrepreneurs, tech-oriented individuals across the globe, activists, journalists, and blockchain-based crypto initiatives followed in their droves.
Bitcoin has been able to provide a decentralized payment mechanism which employs the use of a distributed ledger. While it appealed to some as a novel system capable of disrupting existing business models, it also proved to be a veritable tool for facilitating new economic relationships and linkages. As a digital currency, its distributed ledger makes it easier to process retail payment transactions such as e-commerce, person-to-person payments, and cross-border transactions with lesser costs and logistics attached when compared to what is obtained in financial institutions.
While it is still widely regarded as a speculative investment, it is already being used as a store of value and has been touted as a potential means of payment in the next decade. Dr. Zeynep Gurguc from Imperial College London has said that the criteria which need to be fulfilled for it to be fully incorporated into the payment systems include: scalability, usability, regulation, volatility, incentives, and privacy.
The report highlighted developments such as the recording of all transactions on a permanent ledger, the emergence of novel and cheaper technologies than bitcoin, volatility in the market, the volume of hacks, and hard forks as concerns which have affected the bitcoin ecosystem.
In view of this, theprevailing bear marketcoupled with the decline in price predisposes bitcoin and altcoins as a “new institutional investment class,” and this has been the trend in the last year.
The study cited the new crypto services division ofFidelity, investments in crypto firms such asBinance, and regulatory approvals as evidence of the increased participation of financial institutions lending credence to the market thesis.
According to the Morgan Stanley Research, some of the bottlenecks faced by clients who were interested in investing in the cryptocurrency industry include regulatory disparities, the absence of regulated custodial solutions, and the lack of formidable financial institutions operating in the industry.
The report also recorded the gradual rise of fiat-pegged cryptostablecoins, which more or less began in 2017 but hasquickenedthis year. The decline in cryptocurrency prices elicited an increase in the share of BTC trade volumes taken byUSDT. Exchanges were used to trading crypto for crypto with relatively few involved in the trade of crypto for fiat.
The research, however, does not see all stablecoins surviving on the long-term. Those who would survive will most likely have relatively lower transaction costs, very high liquidity, and a clear regulatory structure.
Images from Shutterstock
The postMorgan Stanley: Bitcoin is a New Institutional Investment Classappeared first onCCN. || Nail in the Coffin? BTC.top Shifts Hash to Bitcoin Cash ABC to ‘End Chaos’: bitcoin cash sv gravestone 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 by Calvin Ayre’s CoinGeek is 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’s contentious hard fork . According to the promise https://t.co/I22yeQaR90 and respect the result of hash war, https://t.co/kHtrRml22y have move hash to ABC chain to support BCH and end chaos pic.twitter.com/0Pzg9oYW92 — Jiang Zhuoer BTC.TOP (@JiangZhuoer) November 17, 2018 Intervening blocks of BCHABC have been largely mined by BTC.com and Bitcoin.com. BTC.top regularly mines up to 6 percent of the regular Bitcoin network, and their contribution to BCHABC has resulted in a rate of about 5 percent of all blocks mined. bitcoin cash mining 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 an English-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.” Story continues 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. bitcoin mining 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 post Nail in the Coffin? BTC.top Shifts Hash to Bitcoin Cash ABC to ‘End Chaos’ appeared first on CCN . || 3 Top Growth Stocks to Buy Right Now: Two years ago, Bank of America /Merrill Lynch released its findings of a 90-year analysis comparing growth and value stocks. While the report showed that value stocks have handily outperformed growth stocks on an annual basis (17% versus 12.6%), the tables have turned over the past decade, with the low interest-rate environment providing an extra boost to growth stocks. Given the recent market swoon, certain growth stocks may be ripe for the picking. With this in mind, we asked three of our fool.com contributors to name one growth stock they believe investors should consider buying right now. Making the list were cancer-focused drug developer Exelixis (NASDAQ: EXEL) , software-as-a-service provider to the wellness industry Mindbody (NASDAQ: MB) , and payment solutions provider Square (NYSE: SQ) . A businessman in a suit holding a plant in the shape of a dollar sign. Image source: Getty Images. A 30% compound annual sales growth rate through 2021? Yes, please Sean Williams (Exelixis): I may pound the table on Exelixis a lot , but I believe I have some pretty good reasons to do so. In recent months, Exelixis stock has been pressured on the idea that Bristol-Myers Squibb and its immunotherapy combo of Opdivo and Yervoy would eat into the company's market share in first-line renal cell carcinoma (RCC). It surprised a lot of folks on Wall Street just how well Bristol-Myers' combo therapy did in first-line RCC. However, many of these fears have proven overblown -- at least so far. In Exelixis' most recent quarterly report, the company recorded 69% net product sales growth, which was driven almost entirely by Cabometyx. For those who may not recall, Cabometyx was the first drug to deliver the "trifecta" in second-line RCC of a statistically significant improvement in median overall survival, progression-free survival, and objective response rate. Having beaten Bristol-Myers to pharmacy shelves in first-line RCC, it doesn't appear that Cabometyx will cede much of its market share. Story continues Exelixis' lead drug is also less than two months away from an expected label expansion into advanced hepatocellular carcinoma (HCC). The HCC market is a bit smaller than RCC, but it nevertheless should give Exelixis an opportunity to grow sales and profitability after Cabometyx easily met its primary endpoint in the phase 3 Celestial trial. Ultimately, we're talking about a biotech company capable of a compound annual growth rate of 30% through 2021 that, if its share price were to remain stagnant, would be valued at just 10 times projected 2021 earnings per share. It's not often that a company can be considered both a growth and value stock, but that's exactly what investors get with Exelixis. A senior couple doing yoga on mats in their home. Image source: Getty Images. High growth at a value price Brian Feroldi (Mindbody): Yoga has become an increasingly popular exercise in America. Meeting the demand has turned into a very big business. The North America Studio Alliance estimated that spending on activities related to yoga grew from $10.3 billion in 2012 to $16.8 billion in 2016. The popularity of the fitness program has caused scores of small studios to pop up everywhere. A hidden winner in the yoga boom is a software-as-a-service business called Mindbody, which provides its customers with all of the tools that they need to run a successful operation. Tasks such as scheduling, marketing, and payments can all be handled through Mindbody's platform in a cost-effective manner. The allure of Mindbody's offering has already convinced more than 68,000 customers to sign up . That number might sound big, but the company is already looking beyond yoga and has started to target the larger fitness and beauty industries. The company estimates that there are more than 300,000 potential customers in its target markets, so the opportunity ahead is still substantial. What's more, Mindbody has a history of introducing new tools that convince its existing customers to spend more on the platform. Mindbody should be able to continue to grow its revenue at a greater than 20% rate for the foreseeable future as it continues to win new customers and roll out new features. Meanwhile, Mindbody's stock has been heading in reverse in part because of the marketwide sell-off. With shares currently trading more than 40% below their 52-week high, I think right now is a great time to buy this growth stock at a value price. A consumer putting his credit card into a Square terminal at a retail store. Image source: Square. Reaping rewards from the revolution Keith Speights (Square): You could focus on the short term. If you do, the departure of Square's CFO to become CEO of NextDoor might worry you. Square's lower-than-expected Q4 earnings guidance could be concerning as well. So could the stock's steep valuation. Even after a significant pullback, Square's shares still trade at a whopping 94 times expected earnings. But investors should focus on the long term. We're in the midst of a financial revolution as society transitions away from cash to digital payments. Square is positioned as a key player in this revolution. Customers love the ease of use of its products and how easy Square is to work with as a company. This makes Square an attractive partner to go to for other products and services. And the company is rapidly adding them to its lineup. Square thinks that it has tapped less than 3% of the addressable market in the U.S. The company should be able to capture more of this market by selling more products and services to existing customers, moving upmarket to larger customers, and making strategic acquisitions. Even better, though, the global market is at least six times larger than the U.S. market. This gives Square a tremendous opportunity for growth. With momentum already picking up in Australia, Canada, Japan, and the United Kingdom -- and more markets to come -- Square looks like a great long-term growth stock. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Feroldi owns shares of Mindbody and Square. Keith Speights owns shares of Square. Sean Williams owns shares of Bank of America and Exelixis. The Motley Fool owns shares of and recommends Exelixis and Square. The Motley Fool has the following options: short January 2019 $80 calls on Square. The Motley Fool recommends Mindbody. The Motley Fool has a disclosure policy . || NYSE Owner’s Bitcoin Futures Market Will Open in Mid-December: Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), will list its highly-anticipated bitcoin futures contract in less than two months, on December 12.
Known as aphysically-settled daily futures contract, the contracts will be backed by actual bitcoins held in ICE’s Digital Asset Warehouse. According to a press release, each futures contract will be validated through ICE Clear U.S., the firm’s clearing venue.
The press release states in part:
“Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse and will trade in U.S. dollars and others. One daily contract will be listed for trading each Exchange Business Day.”
Launched in apartnership betweenICE — the operator of 23 leading global stock exchange, including the NYSE — and other household names including Starbucks and Microsoft, the Bakkt venture aims to create an open, compliant ecosystem for digital assets.
Bakkt wascreatedto be a “regulated ecosystem” that provides protection for institutional investors who want to get exposure to cryptocurrency. At the time of the announcement inSeptember, Bakkt had said the physical bitcoin futures would be traded against the U.S. dollar, British pound sterling, and euro.
“A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of bitcoin is fully collateralized or pre-funded. As such, our new daily bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset,” Bakkthadsaid at the time, responding to criticisms that the contracts could mask “hidden leverage.”
For every one purchase of a USD/BTC futures contract, there will be a delivery of one bitcoin into the owner’s account at settlement. That contrasts with the bitcoin futures markets on CBOE and CME, which are cash-settled, meaning that no actual cryptocurrency assets exchange hands at expiration.
Investors in Bakkt’s platform includeMike Novogratz‘s Galaxy Digital,Pantera Capital, and others.
Featured Image from Shutterstock
The postNYSE Owner’s Bitcoin Futures Market Will Open in Mid-Decemberappeared first onCCN. || Early Trading Shows Clear Preference In Divide Over Bitcoin Cash Fork: An experimental market on a major crypto exchange suggests that bitcoin cash users may favor the more established version of the software, Bitcoin ABC, ahead of an expected fork this month. Due to the technical design of the cryptocurrency, currently the fourth-largest by market capitalization, bitcoin cash users must "hard fork" the blockchain, or adopt a new software version with changes as decided by open-source developers, every six months. Things are different this time around, though, amid the emergence of a rival version of the software called Bitcoin SV. As a result, anticipation has been growing that bitcoin cash (BCH) may undergo a divisive hard fork in which it splits into two competing cryptocurrencies. SEC Charges EtherDelta Founder Over 'Unregistered Securities Exchange' That said, data from cryptocurrency exchange Poloniex, operated by Goldman Sachs-backed blockchain startup Circle, indicates Bitcoin ABC may be the preferred version. After launching markets meant to represent both versions of the software (including the as-yet-to-launch Bitcoin SV), Bitcoin ABC has a clear lead, trading at a price over four times higher. Poloniex introduced "pre-fork" trading, at around 01:00 UTC today in an effort to retain a neutral stance during the upcoming Bitcoin Cash upgrade. The idea that theoretical markets can help users determine consensus around technical roadmaps has been raised before , and this is the latest version of an exchange seeking to play a role in supporting community decision-making. By offering the pairs, the exchange is essentially allowing its customers to see which chain might be more widely supported, should both softwares be introduced. What the charts show Still, evidence indicates the debate may not be as divisive as feared. Recovery in Doubt as Bitcoin Price Drops Out of Bullish Channel As can be seen in the chart below, BCHABC is trading at a price of $465 (priced in USDC, the exchange's dollar-pegged stablecoin), which is 4.2 times higher the BCHSV's current price of $109 USDC at time of writing. For comparison, the price of BCH is currently $596 USDC on Poloniex. Story continues Pre-fork trading has been live for roughly 12-hours and is only available to those willing to convert their BCH to either of the forks, so trading volumes are still small. That said, BCHABC is again leading the charge with twice twice trading volume of BCHSV. At press time, $45,785 USDC and $21,988 USDC have been traded for BCHABC and BCHSV, respectively. While the experimental markets are relatively illiquid, the price discovery can be expected to be particularly erratic until sufficient liquidity has established. BCHABC and BCHSV deposits and withdraws will only be enabled once the actual Bitcoin Cash fork takes place on Nov. 15, even then there is no guarantee the forks will become "economically or technically viable," Poloniex says . The exchange warns: " You do not have to engage in pre-fork trading. If you choose to engage in pre-fork trading, please note that, as with all trading on the platform, trading in these assets can be extremely risky, and you trade at your own risk.  It is possible that one of these chains will not be economically or technically viable after the fork, and its value will drop to zero." Disclosure:  The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing. Lead Bitcoin ABC developer Amaury Séchet image via CoinDesk Consensus archive Related Stories Star Trek's Shatner Defends Ethereum Creator Vitalik Buterin in Tweetstorm Crypto Exchange Poloniex Announces 'Pre-Fork' Trading for Bitcoin Cash
[Random Sample of Social Media Buzz (last 60 days)]
#BTCUSD Market #1H timeframe on November 1 at 01:00 (UTC) is #Bullish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Korea price
Time: 11/21 00:27:11
BTC: 5,477,375 KRW
ETH: 163,100 KRW
XRP: 538 KRW
#Bitcoin #Ethereum #Ripple || What utopia awaits at the end of the #blockchain road? Or is that actually a cliff ahead? On Thursday, @Nouriel & @OmegaOneProject CEO Alex Gordon-Brander debate what the future holds. Tickets: https://events.theassemblage.com/cryptoblockchain/tw … #cryptocurrency #Crypto #bitcoin #ICO || 現在の1ビットコインあたりの値段は483,272.6201円です。値段の取得日時はNov 24, 2018 15:01:00 UTCです #bitcoin #ビットコイン || 1. #BTC: $6440.56 (1.17%)
2. #ETH: $209.03 (4.23%)
3. #XRP: $0.46 (1.92%)
4. #BCH: $563.44 (4.91%)
5. #EOS: $5.48 (1.16%)
6. #XLM: $0.24 (0.45%)
7. #LTC: $53.72 (1.13%)
8. #ADA: $0.08 (2.4%)
9. #XMR: $112.26 (4.92%)
10. #USDT: $1.00 (0.94%)
#blockchain #crypto #altcoin || 10/29 19:00 現在のビットコインの価格 BTC/JPY ask: 726,627 / bid: 708,913 || #Bitcoin $6,336.02 v #BitcoinCash $524.75 (BTC/BCH 12.1), Avg Transaction fee for #Bitcoin ~$0.42 v #BitcoinCash ~$0.00 - 2018/11/12 08:00JST || ZEC #Vaultmex Price Alert
Time: 2018-10-19 00:30:07
#ZEC 0.00000000BTC
Change:0.00%
#instablockchain #bitcoin #trx #markets #retweet #vaultmex
https://vaultmex.com || Market Cap: $184,992,768,207
BTC Dominance: 52.66%
BTC: $5,603.16 | 1H: -0.14%
XRP: $0.50 | 1H: 0.28%
ETH: $175.88 | 1H: -0.31%
BCH: $383.60 | 1H: -0.09%
XLM: $0.25 | 1H: 0.66%
19.11.2018 00:58:10
Powered by #Robostopia || #depositMoney Why does bitcoin mining make money? http://bit.ly/2AS5qIl pic.twitter.com/pu2Ldj1n1I
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Trend: down || Prices: 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Meet Coinrule, the bitcoin baby-sitters who take the pain out of crypto trading: When a trio ofentrepreneursstarted Coinrule three years ago, the market needed anothercryptostart-up as much asSilicon Roundaboutneeded another Astroturfed office.
But Gabriele Musella, Oleg Giberstein and ZdenÄk Höfler found a niche that’s helped their crypto firm grow into a site with 130,000 worldwide users and $1 billion of trade since its launch in 2019.
Coinrule lets traders build bots that automate trading in crypto. It opens up the market toinvestorswho don’t have the time to babysit aninvestmentthat’s notoriously volatile and needy.
Musella explains: “We democratise the tools that big banks and institutions have been using for a while, bringing the power of automation to the masses.”
Coinrule is free for those trading less than $3,000 a month while heavy traders pay up to $500 a month.
Users can follow one of the platform’s 10,000 set strategies or build their own “rules”.
Features range from simple “stop losses” to long and complex conditional statements. Coinrule’s platform sits on top of the major crypto exchanges, including Binance and Coinbase.
“Trading isn’t difficult, we think people have a brain to structure their own trades and make up their own rules,” says Musella.
Founded: 2019
HQ: Farringdon
Staff: 15
Turnover: £1 million (December 2020-December 2021)
His own experience shows it’s easier with hindsight.
The ebullient Italian-born Londoner (he’s betting on Brexit being reversed “within 20 years”) first bought Bitcoin in 2012: “I paid about $300 and made about 5%. I put the cash towards a holiday to the Bahamas. I enjoyed the trip, although with hindsight, that wasn’t a good choice.”
Those coins would be worth millions today.
Musella worked in user experience for UBS, the NHS, and WPP before revisiting his latent cryptocurrency account in 2016 and becoming interested in the underlying technology.
“I started trading massively, and wanted to write some scripts but I’m not a good coder.”
He met co-founders Giberstein, who is German, and Höfler, who is Czech, at a London accelerator “and we decided to stop our careers that weren’t going anywhere and start something together. I still have our first sketch somewhere… one day I’ll make it an NFT.”
Interest from a Hungarian accelerator saw the three move to Budapest for a few months early on. Musella broke up with his girlfriend of five years to move.
“But in four weeks we built the [basic version] of the app, got $25,000 in the bank from the accelerator, found our first 100 customers, and started building our company.”
By March 2020, revenues were around $4000 a month and the entrepreneurs were ready for a bigger fundraise. A London VC fund offered £250,000 and a £4 million valuation.
“Then the pandemic hit, everything shut, I ran back to Italy — I thought lockdown would be better with good food — and the VC said, ‘sorry, that valuation… we can’t do it any more’.”
The Coinrule founders decided to turn down a lower funding offer, which valued their company at $1.5 million.
The startup was forced to lay off and furlough staff, while those who stayed took pay cuts.
Musella says: “It was a storm: no money, Covid everywhere, and we were still trying to grow the company.”
Eventually Coinrule fundraised £530,000 on crowdfunding site Seeders. The resulting publicity saw new traders flock to their site too.
Coinrule now enjoys revenues of $140,000 a month on $100 million to $150 million-worth of trades.
“The growth was fast and crazy,” Musella admits. “We didn’t have time to reply to everyone, so our Trustpilot rating went down a bit, but overall it was a good thing.”
When renowned US seed funder Y Combinator got in touch, Musella and his fellow founders handed over about 6% of equity — “It was a bit painful” — in return for mentorship by the founders of firms including Airbnb, Twitch and Kayak. They ended up raising $2.2 million.
Backers included the Twitch and Kayak founders they’d worked with.
Today Coinrule has 15 staff around the world. Future plans include expansion to Asia and moving into non-crypto assets. “Where firms like IG Index and eToro moved from traditional investments into crypto, we’re doing it the other way round.”
Running against the tide seems to work well at Coinrule. || Softbank-backed Brazilian crypto firm acquires Portuguese exchange: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Softbank-backed Brazilian company 2TM, which runs Latin America's largest cryptocurrency exchange Mercado Bitcoin, said on Wednesday it will acquire a controlling stake in Lisbon-based crypto exchange CriptoLoja.
The Brazilian firm, valued at roughly $2.2 billion, declined to disclose the terms of the acquisition, but said the transaction is pending approval with Banco de Portugal, the nation's central bank.
CriptoLoja has been operating since July last year. In June 2021, it received Portugal's first official license as a virtual asset service provider.
"Portugal is a strategic market for us, because it requires a specific license, is becoming an important hub for crypto in Europe and opens a gateway into the larger European market," said Roberto Dagnoni, chief executive officer of 2TM group, in a statement.
The Brazilian holding company will start its expansion into Europe with an over-the-counter (OTC) operation. As a second phase, it intends to take the entire MercadoBitcoin.com platform to retail and institutional investors.
CriptoLoja's founders, Luís Gomes and Pedro Borges, will remain co-heads of the business while also leading 2TM's expansion in Europe, 2TM said.
Borges said in the statement that the crypto ecosystem is flourishing in Portugal, but it is still an emerging topic in the country.
The Portuguese exchange is one of many acquisitions that 2TM is looking to undertake, not only in Europe, but also in Latin America.
"We're looking at several jurisdictions where we can acquire companies that have already existing licenses or have filed for licenses," Daniel Carneiro da Cunha, 2TM's executive director, corporate development told Reuters in an earlier interview.
"We will be looking at other jurisdictions as well to set up proprietary operations and through that be able to gain exposure to regulatory and existing licenses."
The Brazilian firm raised $200 million from Japan's SoftBank Group Corp for Mercado Bitcoin in a financing round over the summer.
(Reporting by Gertrude Chavez-Dreyfuss; editing by Richard Pullin) || Is Bitcoin Headed For a Shaky Weekend Amid Russia-Ukraine Tension?: According to a recent intelligencereport, US President Joe Biden has called on all American citizens remaining in Ukraine to leave the country immediately, citing increased threats of Russian military action.
So, amid growing fears of a Ukraine-Russia conflict, what will be the fate of digital assets likeBitcoin,Ethereum, and top altcoins?
The PBS NewsHour chief Washington correspondent Geoff Bennett reported that the US believes Putin has decided to invade Ukraine and communicated those plans to the Russian military.
He further revealed that of the three officials who spoke, two admin officials said that they expect the invasion to begin next week—echoing what Secretary of State Blinken has said.
Here further highlighted that:
“Defense officials anticipate a horrific, bloody campaign that begins with two days of bombardment and electronic warfare, followed by an invasion, with the possible goal of regime change.”
In addition to that, Bennett revealed that the North Atlantic Council had been briefed on this new intel received in the late hours of February 11.
For now, President Biden has said that he would not send troops to rescue Americans if Moscow invades Ukraine. In addition to that, several other countries, including the UK, have urged their citizens to leave Ukraine.
On the other hand, Russia has repeatedly denied any plans to invade Ukraine despite massing more than 100,000 troops near the border.
However, recently, the Russian ships finally arrived in the Black sea and it has begun massive military drills with neighboring Belarus, while Ukraine has accused Russia of blocking its access to the sea.
Notably, in the last week of January, Bitcoin tumbled almost 9% to its lowest in six months amid fears of a Russian attack on Ukraine. On January 24 the market also saw the fall of riskier assets worldwide which extended the sell-offs. So, what to expect from BTC going forward?
At press time, with the news of the Russia-Ukraine tensions gaining tension after Bennett’s revelation just an hour back, the effect of the same could already be seen on crypto assets.
Notably, Bitcoin was back to the $42K range trading at $42,597.65 noting 4.11% daily losses at press time. Furthermore, the global crypto market cap came down to $1.93 trillion noting, a 4.00% decrease over the last day.
Looking at altcoins, Ethereum was back below $3K as ETH changed hands at $2,975.30 noting a 4.76% daily fall in price. That said,Cardano,Solana,Terra, andAvalanchewere down 5%, 9.2%, 2%, and 8.2% respectively. Even the top meme token,Dogecoinwas down 4.42% trading at $0.147 at press time.
As a wave of sell-offs took over the market, it seemed like Bitcoin and the larger crypto market could have a shaky weekend ahead.
Thisarticlewas originally posted on FX Empire
• Stock Markets Give Up Gains for the Week
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• Ethereum, Coinbase, Vitalik Buterin funded Foundation Secures $15M
• Silver Markets Give Up Half the Week’s Gains
• USD/CAD Moves Lower As WTI Oil Gets Back Above The $91 Level || CRYPTOVERSE: Bitcoin squeezes smaller rivals to its crown: By Medha Singh and Lisa Pauline Mattackal (Reuters) - Bitcoin is beginning to reassert its dominance over challengers to its cryptocurrency crown. The original digital coin was assailed by thousands of new "altcoin" competitors in 2021 - from solana and polkadot to litecoin and dogecoin - raising the prospect of a rapid fragmentation of the crypto market. Yet bitcoin has stemmed its loss of market share this month, and begun to regain ground, as rattled investors seek the relative safety of the biggest crypto player while they contend with an aggressive Fed and talk of war in Europe. Bitcoin's share of the $1.68 trillion crypto market has risen to about 42%, from 39% two weeks ago - the first time it has registered an increase since dropping from a peak of 46% in mid-October, according to data from CoinMarketCap which tracks 17,225 cryptocurrencies across 458 exchanges. Market players caution that it's too early to call a trend, and note that while bitcoin has outperformed the industry, the entire crypto market has fallen this month. Nonetheless, some say 13-year-old bitcoin could continue to benefit versus its crypto rivals from the more cautious investment climate. "If risk-off persists, bitcoin will suck up the liquidity in crypto markets," said Matthew Dibb, chief operating officer of Singapore-based crypto fund distributor Stack Funds. While most cryptocurrencies still take their price cues from bitcoin, some fund managers expect a gradual divergence, or decoupling, this year that will require more discrimination. "While many casual market observers were able to print a pretty satoshi (bitcoin investment) last year simply by watching their favorite assets go up, 2022 is likely to require a much more careful, nuanced, and active strategy," said Jeff Dorman, chief investment officer of digital asset management firm Arca. "Pockets of strength will periodically emerge, and catching a few of those shifts will be incredibly important for performance this year." Story continues SOLANA: CANARY IN COAL MINE? It's been a torrid start to the year for cryptocurrencies, as unnerved investors ran from risk. Yet bitcoin's 20% decline in January - to levels of around $37,000 - is the smallest among the top coins. It main challenger ether, the coin of the Ethereum blockchain, is down 34%. Cryptocurrencies which are connected to blockchains used to build decentralised finance applications have lost even more ground. Solana, which jumped 100-fold in 2021, is down 47%, while polkadot is down 41%. The selloff that began in December has however been less volatile and seen lower volumes transacted than bitcoin's previous rout in May 2021, when it halved in nine days. "A range between $30,000 and $40,000 for a few weeks or even months would not shock me," said Chicago-based Michal Cymbalisty, co-founder of decentralised exchange Domination Finance, adding that fears of a long "crypto winter" were overblown. Some analysts point to solana as the proverbial canary in the coalmine, given how fast it rallied in 2021 and its recent outages. Sometimes nicknamed an "ethereum killer", JPMorgan analysts cited solana's use in non-fungible tokens (NFTs) as a reason it has been successful in gaining market share at ether's expense, while BofA analysts have said it "could become the Visa of the digital asset ecosystem". Solana has a market capitalisation of over $28 billion, which makes it the world's seventh-largest crypto, according to CoinGecko. "Solana is a speculative asset within the crypto ecosystem, so if it rises, appetite for other altcoins will also increase," said Dibb at Stack Funds. He also warned that a further significant deterioration in investor risk appetite could clobber some cryptocurrencies. "If there is another risk-off wave, we could see Nasdaq drop another 5% and cryptos could get crushed. Cryptos are not a store of value as yet." (Reporting by Medha Singh and Lisa Mattackal in Bengaluru; Editing by Vidya Ranganathan and Pravin Char) || Bitcoin's price compared to gold has sunk to its lowest since mid-2021 as Russia dispatches troops into Ukraine: Bitcoin slumped Wednesday and into Thursday. Jirapong Manustrong/Getty Images Bitcoin's price compared to gold has sunk amid the escalating conflict in Ukraine. A single bitcoin is now worth about 19 ounces of gold, Bloomberg data showed. Russia reportedly deployed forces to Ukraine late Monday, spurring investors to seek safety in gold. New data show bitcoin's price compared to gold has sunk to its lowest point since the middle of 2021 as Russia-Ukraine tensions reach new heights. According to data from Bloomberg , a single bitcoin is now worth about 19 ounces of gold the same price as in July 2021 when the cryptocurrency sank amid a regulatory crackdown in China. The recent bitcoin price drop has been stoked by the escalating conflict in eastern Europe. Russia reportedly deployed its forces to pro-Kremlin areas of Ukraine late Monday. The US, European Union, and the UK condemned Russia's recognition of the areas as independent states rather than parts of Ukraine and promised economic sanctions. The conflict spurred a broad market slump early Tuesday with investors seeking less risky assets such as gold. Meanwhile, bitcoin continued to drop Tuesday and has fallen about 20% so far this year, trading below $38,000. In October last year, bitcoin surged above $60,000 as investors turned to the cryptocurrency as a hedge against inflation, which has been at its highest in decades. At the time, a single bitcoin was worth a record high of 37 ounces of gold, Bloomberg reported. Though bitcoin has been subject to extreme volatility since its inception more than a decade ago, some say the cryptocurrency has prospects as a store of value, similar to gold, which is viewed as a safe-haven for risk-averse investors. Earlier this year, Goldman Sachs analysts predicted the cryptocurrency could surge past $100,000 as broad crypto adoption leads bitcoin to steal store-of-value market share from gold. Read the original article on Business Insider || US stocks trade mixed as investors weigh conflicting signals on Russia-Ukraine crisis: • US stocks were mixed on Friday amid conflicting developments in the Russia-Ukraine crisis.
• Russia's foreign minister agreed to meet with his US counterpart next week for further discussions.
• Meanwhile, indications point to Russia increasing the number of troops on the border with Ukraine.
US stocks were mixed on Friday after tumbling in the prior session amid conflicting developments on the Russia-Ukraine crisis.
Major indexes initially rallied in premarket trading after Russian Foreign Minister Sergei Lavrov agreed to meet US Secretary of State Antony Blinken next week to discuss the crisis.
But Blinken later said more Russian troops are headed to the Ukraine border. Meanwhile, the US ambassador to the Organization for Security and Co-operation in Europe estimated that Russia has 169,000-190,000 personnel near Ukraine, up from 100,000 at the end of January. Russian President Vladimir Putin said he isn't against talks with the US.
Here's where US indexes stood at 9:30 a.m. on Friday:
• S&P 500: 4,386.42, up 0.14%
• Dow Jones Industrial Average: 34,251.27, down 0.18% (60.76 points)
• Nasdaq Composite: 13,742.20, up 0.17%
US stocks suffered their worst one-day loss of the year on Thursday, when President Biden said a Russian invasion of Ukraine was likely imminent. Moscow had claimed earlier this week that it pulled back some troops.
Analysts at RBC Capital Markets warned investors are underestimating the threat of a war in Europe, saying aRussian invasion of Ukraine could hammer stocksin similar fashion to the two Iraq wars or the US-China trade war of 2018.
Virgin Galactic stockdipped Friday after the space tourism company announced billionaire investorChamath Palihapitiya stepped downchairman and board member.
Oil prices extended their decline and are headed for their first weekly loss in nine weeks. A potential deal to reboot Tehran's 2015 nuclear agreement with world powers has raised the prospect of increased Iranian crude exports.
On Friday,West Texas Intermediate crudefell 2% to $89.94 per barrel.Brent crude,the international benchmark, dropped 1.8% at $91.25.
Golddipped 0.1% to $1,900.10 per ounce. The10-year yieldfell 3.5 basis points to 1.939%.
Bitcoinslipped 1.34% to $40,444.50.
Read the original article onBusiness Insider || Jefferies Is Bullish On This Bitcoin Miner, Sees Sharp Upside: • Jefferiesanalyst Jonathan Peterseninitiated coverageofMarathon Digital Holdings Inc(NASDAQ:MARA) with a Buy rating and $51 price target, suggesting an upside of 139%.
• He sees Marathon Digital being on pace to become the most significant public Bitcoin miner on an EH/s basis in 2022.
• The company's current fleet of more than 30,000 miners generates 3.5 exahash of processing power, representing about 1.9% of the total Bitcoin mining market. It will likely grow to 199,000 miners generating 23 EH by year-end 2022, which he estimates will exceed 5% market share on full deployment.
• The recent selloff in Bitcoin's price moderates the revenue growth outlook, but he still expects about 80% mining margins and a 12-18 month payback period on recent ASIC miner purchases and assumes the average price of Bitcoin in 2022 at about $53,400.
• Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets.
• Price Action:MARA shares traded higher by 7.43% at $21.26 on the last check Friday.
Latest Ratings for MARA
[{"Jan 2022": "Jan 2022", "Jefferies": "BTIG", "Initiates Coverage On": "Initiates Coverage On", "": "", "Buy": "Buy"}, {"Jan 2022": "Oct 2021", "Jefferies": "DA Davidson", "Initiates Coverage On": "Initiates Coverage On", "": "", "Buy": "Buy"}]
View More Analyst Ratings for MARAView the Latest Analyst Ratings
See more from Benzinga
• Analysts Cut Western Digital Price Target Post Q2 Results
• DA Davidson Turns Bullish On This Payment Network
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || US Dollar Plummets Towards 50 Day EMA: The US dollar has plunged during the session on Thursday to reach down towards the 50 day EMA. That being said, the 50 day EMA should cause a little bit of a reaction and at this point in time we are probably oversold. Furthermore, we are entering the “golden pocket” on the Fibonacci retracement tool, meaning that we are between the 50% level and the 61.8% level. There are a lot of traders that will pay close attention to this area, so be interesting to see whether or not we get buyers in this area. If we break down below the 113.80 level, then I would consider all support broken, and this market could fall quite significantly. USD/JPY Video 14.01.22 On a bounce, I would need to see the market take out the highs of the Thursday candlestick to get bullish again, although the longer-term trend certainly does favor buying. Keep an eye on the 10 year yield if it continues to fall that will almost certainly work against the value of this currency pair. That being said, the US dollar needs to recover against multiple currencies to make this pair bounce, or we need to see some type of major selling of the Japanese yen. While the Japanese yen has been rather soft, the reality is that the US dollar has been even softer. In general, this is a market that looks like it is trying to figure things out, but clearly you cannot jump in and try to catch this falling knife right away, and I do believe that it is more likely than not going to be a market you need to observe more than anything else. 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 and Ether See Crucial “Liftoff”, SOL Bulls Aim Big Why Delta Air Lines Stock Is Up By 3% Today Bitcoin Could Become Legal Tender in Tonga by the end of the Year Gold Markets Testing Top of Range Crude Oil Markets Finally Recognizing Gravity Procter & Gamble on Track to Beat Earnings Estimates Again || Counter-Trend EUR/USD Buyers Targeting 1.1387 – 1.1407: The Euro is edging higher against the U.S. Dollar on Tuesday after reports some Russian troops in areas near Ukraine have started returning to their bases. The news drove investors out of safe-haven U.S. Dollar positions.
Some troops in Russia’s military districts adjacent to Ukraine are returning to their bases after completing drills, Russia’s defense ministry said on Tuesday, a move that could de-escalate frictions between Moscow and the West.
At 14:31 GMT, theEUR/USDis trading 1.1355, up 0.0047 or +0.42%. TheInvesco CurrencyShares Euro Trust ETF (FXE)is trading $105.36, up $0.51 $0.42 or +0.49%.
In U.S. economic news, prices at the wholesale level jumped twice the expected level in January as inflation pressures were unabated to start the year, the Labor Department said Tuesday.
Theproducer price index, which measures final-demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months the gauge rose an unadjusted 9.7%, close to a record in data going back to 2010.
Excluding food, energy and trade services, so-called core PPI increased 0.9% for the month, well ahead of the 0.4% estimate. For the 12-month period, the measure increased 6.9%. Both core and headline PPI gains over the year were 0.1 percentage point lower than the record levels hit in December 2021.
The main trend is down according to the daily swing chart. A trade through 1.1280 will signal a resumption of the downtrend. A move through 1.1495 will change the main trend to up.
The short-term range is 1.1122 to 1.1495. Its retracement zone at 1.1308 to 1.1265 is support. This zone stopped the selling on Monday at 1.1280.
The minor range is 1.1495 to 1.1280. Its 50% level at 1.1387 is the first resistance.
The main range is 1.1692 to 1.1122. Its retracement zone at 1.1407 to 1.1475 is the key resistance zone controlling the near-term direction of the single-currency.
The combination of the two 50% levels creates a resistance cluster at 1.1387 to 1.1407. Since the main trend is down, look for sellers on a test of this area.
The direction of the EUR/USD into the close on Tuesday is likely to be determined by trader reaction to 1.1308.
A sustained move over 1.1308 will indicate the presence of buyers. If this move is able to generate enough upside momentum then look for a surge into 1.1387 to 1.1407. Look for sellers on the first test of this area.
Overtaking 1.1407 is a potential trigger point for an acceleration to the upside with 1.1475 the next likely target.
A sustained move under 1.1308 will signal the presence of sellers. This could trigger a quick break into 1.1280, followed closely by 1.1265. The latter is a potential trigger point for an acceleration into 1.1122.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• 200 Day EMA Proves Supportive for the S&P 500
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• USD/CAD Tests Resistance At 1.2760 || Intel to Unveil 'Ultra Low-Voltage Bitcoin Mining ASIC' in February: Intel, one of the world's largest chip makers, is likely to unveil a specialized crypto-mining chip at the International Solid-State Circuits Conference (ISSCC) in February, according to theconference's agenda.
• One of Intel's "highlighted chip releases" at the conference is entitled "Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC." The session is scheduled for Feb. 23.
• This brings the company into direct competition with the likes of Bitmain and MicroBT in the market for bitcoin mining ASICs, or application-specific integrated circuits, for the first time.
• Crypto mining has in the pastdriven up demandand prices for graphics processing units, including Intel's, so much so that it attracted theire of gamers. Unlike its competitor Nvidia, Intel hassaidit doesn't plan to add ether mining limits on its graphics cards.
Read more:Bitmain Adds Liquid Cooling Technology to Its Latest Bitcoin Mining Rigs
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 37849.66, 39666.75, 39338.79, 41143.93, 40951.38, 41801.16, 42190.65, 41247.82, 41078.00, 42358.81
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-05-04]
BTC Price: 239.02, BTC RSI: 53.57
Gold Price: 1186.80, Gold RSI: 47.49
Oil Price: 58.93, Oil RSI: 65.38
[Random Sample of News (last 60 days)]
Coin.co CEO: Bitcoin's Impact On Society Will Rival The Internet: Bitcoinis praised by those who have benefited from the digital currency, butnot everyone agreesthat it will last.
Alex Waters, CEO ofCoin.co(a bitcoin payments company), recently told Benzinga about his grand vision for the cryptocurrency.
"I think [it will] rival the Internet as far as how widely it could affect the world in a positive way," said Waters, whose company is among those that are competing in theBenzinga Fintech Awards. "I could say that the Internet has enabled things like email and social networks and personal websites, blogs. In many of the same ways, bitcoin enables (as a platform) decentralized organization and tokenization of securities and commodities and a whole bunch of really compelling things that are built on top of a platform."
Waters defended his bold prediction by comparing the Internet to electricity.
"I think to look at it as electricity has given us the Internet, maybe the Internet has given us bitcoin," he said. "So, what I say is, it rivals the Internet as far as its impact on humanity and the benefits to humanity. As much as electricity has benefited humanity, perhaps the Internet rivals that."
Related Link:6 Reasons To Attend The Benzinga Fintech Awards
Future Success - Or Failure?
Waters said that it was "really hard to say" what bitcoin will look like in the distant future, but he is confident that it will survive and remain the leader in its field.
"As far as, 'Will bitcoin be the thing that exists in 10 or 20 years [and] be the dominant digital currency?' -- I think so," said Waters. "I think, very much like Linux, it is an open-sourced platform. It is able to adapt and grow. If a competitor were to come up with something innovative that's better, bitcoin could just incorporate those changes."
Waters noted that bitcoin has already achieved critical mass, has momentum and a "large number of really intelligent people working on it."
"Tons of people have invested money into it," he said. "For example, the amount of venture capital invested in bitcoin companies last year surpassed that of the Internet in 1994. This year some analysts predicted that approximately $200 to $500 million will be invested in bitcoin companies."
Rejected Ideas
Waters realizes that some people may never be persuaded to use bitcoin until it has obtained a high degree of mainstream acceptance. He said the same thing happened with other ground-breaking technologies, such as the automobile.
"Historically, cultures scoff at new technology," Waters explained. "A good example (in recent history) was the automobile. It was laughed at. It was sensationalized politically and in the media for enabling rum-runners to avoid the prohibition laws. Obviously that's silly, looking retrospectively."
Waters said that the media's "sensational painting of bitcoin" is equally as silly.
"If we look at percentages of dark market and that sort of thing, it's not really a concern," he added. "It's still a concern, but it's not as it's portrayed. I think people will scoff at things like a unified global currency or something as sci-fi as credits."
As recently as 15 years ago, Waters believes some individuals may have scoffed at the idea of building robots that resembled humans.
"And yet we see [Google-owned] Boston Dynamics building actual robots that look and resemble humans in the way they move around and behave," he said. "I think bitcoin is one of those things where people discredit it or doubt it, but it is such a technological advancement that it will have its day."
Coin.co's Next Step: The Benzinga Fintech Awards Gala
Coin.co is heading to the Benzinga Fintech Awards Gala on April 8. Space is limited (the initial batch of tickets are already sold out), so Benzinga is encouraging interested parties topurchase their ticketsimmediately (use coupon code BZFRIEND to save $100 off the regular admission price).
Disclosure:At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
See more from Benzinga
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• Digital Ally Rises 17% After Earnings; Time To Buy?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Iran Ripe For Investment Once Sanctions Are Lifted: From oil to consumer goods, Iran is becoming a sought after marketplace as the potential of a nuclear deal removing Western sanctions is looking more and more likely.
Everyone from individual investors to major companies is looking at the Middle Eastern nation as an emerging market with an enormous amount of untapped potential.
Investment In Oil
Whileoil pricesare likely to take a hit with the introduction of Iranian oil to the market, the Iranian oil sector is a valuable investment for U.S. and European companies looking to enter the nation's market.
In September, Iranian officials areplanninga conference in London, at which foreign firms can evaluate the conditions of new oil contracts.Expectations are highthat Western companies will be interested in taking on joint ventures with Iran's National Iranian Oil Company once the sanctions have been lifted.
Related Link:Could The Iran Nuke Deal Really Push Oil Prices Down Another ?
Banking
Iran is home to nearly 80 million people, providing a huge market that could become even more attractive than the nation's wealth of natural resources. At the moment, only a sliver of that population has a debit card and even fewer have any debt.
For that reason, Western financial firms are likely to make their way into Iran as soon as possible with the introduction of credit cards and borrowing.
Consumer Products
Iranians spent $77 billion on food and $22 billion on clothes in 2012 despite the strict sanctions, as reported by the Wall Street Journal, so it's safe to assume that consumer products' firms will be looking to enter Iran's market as well.
Some say that the nation's population is nostalgic for American-made goods, especially cars, that used to be available before the sanctions were in place.
Risks
While the figures may look good on paper, many companies are likely to be hesitant to expand into Iran at first. For some, there are ethical issues about investing in a country that has been associated with terrorism. For others, there is a worry that the nuclear deal won't hold up.
Even if the West and Iran can iron out a concrete agreement by the end of June, there is a possibility that Iran won't comply with the terms of the agreement at some point in the future, which could mean more sanctions that would prevent businesses from moving their money out of Iran.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution: Goldman Sachs' equity research analysts say that bitcoin and similar cryptocurrencies could be the "future of finance" as the demand for a new way to move money continues to rise. In a report titled The Future of Finance: Redefining The Way We Pay in the Next Decade , authors James Schneider and SK Prasad Borra say merchants will be the largest companies to benefit from the shift toward cryptocurrencies and highlight three existing bitcoin-based businesses as the leading firms in the cryptocurrency space— Coinbase , BitPay and Ripple Labs . Coinbase Coinbase is a California-based firm that opened the first regulated bitcoin exchange in the U.S. this year. The company was able to raise $75 million in funding from several high profile investors including the New York Stock Exchange in order to roll out the exchange, which has gained regulatory approval in roughly half of U.S. states. The company also recently joined the Internet Association alongside big shots like Amazon Inc. (NASDAQ: AMZN ) and Facebook Inc. (NASDAQ: FB ) in an effort to keep the cryptocurrency's interests at the forefront of internet regulation. BitPay BitPay is a global payment processing firm that allows merchants to accept bitcoin in exchange for goods or services. The company has signed several high-profile deals in the past year, bringing bitcoin one step closer to public adoption. Most recently, BitPay partnered with Adyen in order to make bitcoin acceptance possible for some of the world's largest companies using their current payments system. Related Link: Bitcoin Company Raises Record Amount Of Cash For Mystery Operations Ripple Labs Ripple Labs is a digital payments company that uses the technology powering bitcoin in order to allow companies to transfer money internationally. The firm uses a cryptocurrency similar to bitcoin in order to validate transactions and make worldwide money transfers in various currencies simple and cost-effective. The company recently hired Ex-Federal Reserve official Norman Reed as its Chief Compliance Officer, saying that Reed's experience will help the company move forward and integrate into the banking sector. Story continues See more from Benzinga Currency War Questions Could Cloud Trade Agreements © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Comstock Mining Announces First Quarter 2015 Results: VIRGINIA CITY, NV--(Marketwired - April 16, 2015) -Comstock Mining Inc. (the "Company")(NYSE MKT: LODE)today announced selected unaudited financial results for the fiscal quarter ended March 31, 2015.
First Quarter 2015 Selected Strategic and Operational Highlights
• Costs applicable to mining revenue were reduced by 22% when comparing Q1 2015, to Q1 2014.
• Weighted average gold grades improved 63% to 0.039 opt in Q1 2015, from 0.024 opt in Q1 2014.
• Weighted average silver grades improved 113%, to 0.734 opt in Q1 2015, from 0.345 opt in Q1 2014.
• Silver to gold production exceeded an 11:1 silver:gold ratio in Q1 2015, up from 9:1 in Q1 2014.
• Metallurgical yields improved to 81% in Q1 2015, from 74% in Q1 2014.
• Strip ratio improved to 1:1 for the first quarter of 2015, down from the 2014 average of 4.8:1.
• Encountered significant high grade intercepts from Succor-Holman mineral patents drilling program.
• Commenced moving State Route 342 ('SR-342'), accelerating operational and community benefits.
• Expanded our landmark special use permit for mining and mine development.
• Expanded our land position, acquiring lands immediately adjacent to our mine area and leach pad.
• Expanded our existing heap leach pad consistent with recently expanded Water Control Permit.
• Enhanced Senior Mining, Financial and Environmental Management, adding operational, environmental and financial strengths to our team while reducing overall costs.
First Quarter 2015 Selected Financial Highlights
• Mining revenue was $5.9 million in Q1 2015 as compared to $5.6 million in Q1 2014, an increase of 6%, resulting from higher gold ounces produced and higher average gold price per ounce.
• Costs applicable to mining revenue was $3.7 million in Q1 2015, as compared to $4.8 million, net of silver credits, in Q1 2014, a decrease of 22%, primarily due to mining cost reductions.
• General and administrative expenses were $2.1 million in Q1 2015, as compared to $2.2 million in Q1 2014, primarily due to lower labor costs of $0.5 million, offset by severance of $0.4 million.
• Net income was $1.3 million, or $0.01 per share for Q1 2015, as compared to a loss of $3.8 million, or $(0.07) per share, for Q1 2014. The improvement resulted from lower costs, higher revenue and the elimination of certain liabilities that strengthened our balance sheet.
• Net cash generated by operating activities was a positive $0.2 million in Q1 2015, as compared to a cash use of $2.4 million from operations in Q1 2014, or a 109% improvement.
• Net cash used for investing was $3.1 million for the first quarter of 2015, primarily from $1.7 million for strategic land purchases and $1.1 million for the expansion of the processing facility.
• Net cash provided by financing activities for the first quarter of 2015, was $1.8 million comprised of proceeds of $4.4 million from the Revolving Credit Facility, partially off-set by a $2.7 million pay-down of other long-term debt obligations. Cash and cash equivalents at March 31, 2015 were $4.2 million.
• Total long-term debt and capital lease obligations were $14.1 million at March 31, 2015, including $5 million outstanding on the Revolving Credit Facility.
First Quarter 2015 Selected Production Highlights
[{"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "316,199", "1Q 2014": "947,852"}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "157,612", "1Q 2014": "205,686"}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "0.039", "1Q 2014": "0.024"}, {"": "", "1Q 2015": "0.734", "1Q 2014": "0.345"}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "6,083", "1Q 2014": "5,016"}, {"": "", "1Q 2015": "115,689", "1Q 2014": "70,989"}, {"": "", "1Q 2015": "7,669", "1Q 2014": "6,140"}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "4,695", "1Q 2014": "4,507"}, {"": "", "1Q 2015": "56,482", "1Q 2014": "49,358"}, {"": "", "1Q 2015": "5,470", "1Q 2014": "5,290"}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "72.91", "1Q 2014": "63.14"}, {"": "", "1Q 2015": "", "1Q 2014": ""}, {"": "", "1Q 2015": "", "1Q 2014": ""}]
"We have continued our crusade for lower costs into 2015, with substantially improved grades, yields and strip ratios while reducing absolute spending wherever possible. We also commenced the re-routing of SR- 342, and have safely accelerated many operating, environmental and community benefits. These achievements have positioned us for profitability throughout 2015," stated Corrado De Gasperis, CEO of Comstock Mining.
ProductionMetal pours totaled 4,695 ounces of gold and 56,482 ounces of silver, during the first quarter of 2015, as compared to 4,507 ounces of gold and 49,358 ounces of silver in the first quarter of 2014, a 4.2% increase for gold ounces and a 14.4% increase for silver ounces. The Company crushed and stacked 157,612 dry tons of mineralized material, delivering 6,083 estimated ounces of recoverable gold and 115,689 estimated ounces of recoverable silver to the leach pads with weighted average gold grades of 0.039 ounces per ton.
For the quarter ended March 31, 2015, the Company realized an average sales price of $1,280.25 per ounce of gold and $15.94 per ounce of silver. In comparison, commodity market prices in the first quarter of 2015 averaged $1,219.22 per ounce of gold and $16.72 per ounce of silver.
Operating Costs and Cost ReductionsDuring the first three months of 2015, actual Lucerne Mine costs applicable to mining revenue were $4.6 million, $3.7 million net of silver by-product credits as compared to $5.8 million, $4.8 million net of silver by-product credits in the first three months of 2014, representing a 22% reduction of costs applicable to mining revenue.These costs applicable to mining revenue also include depreciation of $1.5 million and $1.3 million, for the first quarter of 2015 and 2014, respectively.
During 2015, the Company continued reducing costs applicable to mining revenue, targeting over $5 million in reductions this year as compared to 2014. The Company has already realized $1.0 million of savings from reduced labor, drilling and blasting and fuel in the first quarter of 2015, as compared to the first quarter of 2014. The Company has also identified $1.5 million of potential cost reductions in all other non-mining activities, including general, administrative, land and environmental areas and has already realized $0.3 million in the first quarter of 2015, as compared to the first quarter of 2014. The Company incurred $0.4 million in severance costs during the first quarter, in mining and general and administrative expenses, associated with organizational cost reduction activities.
Exploration and Development (including Underground)During the first quarter, the Company announced that the drill program on the East-side of the Lucerne continues to reveal higher-grade gold intercepts that further define a near-surface, broadening zone of high-grade gold mineralization in the Succor and Holman mineral patents. These results represent significant progress towards the first major objective in the 2014-2015 exploration and development drilling program (the 'Program'), representing a comprehensive drilling and evaluation of high priority targets including the Succor and Holman. All data, to date, suggests these claims have excellent potential for economic mining and metal recovery. The current drill program resulted in the following summary of intercepts:
Table 1: Summary of Drill Program
[["", "", "", "", ""], ["", "", "", "", ""], ["", "", "Succor", "", "Holman"], ["No. Holes Drilled", "", "80", "", "39"], ["Strike Length Drilled (ft)", "", "700", "", "575"], ["No. 10' intervals with intercepts > .015 Au opt.", "", "166", "", "55"], ["No. 10' interval with intercepts > .100 Au opt.", "", "22", "", "3"], ["No. drill holes with intercepts > .100 Au opt.", "", "20", "", "2"], ["", "", "", "", ""], ["", "", "", "", ""]]
Table 2: Average Grades for Drill Intercepts Greater than .015 Au opt.
[["", "", "", "", ""], ["", "", "", "", ""], ["", "", "Succor", "", "Holman"], ["Avg Au opt.", "", "0.056", "", "0.047"], ["Avg Ag opt.", "", "0.259", "", "0.333"], ["", "", "", "", ""], ["", "", "", "", ""]]
Underground DevelopmentThe Company recently completed extensive geological development and modeling, incorporating all available data, including existing drill holes and historic underground mine maps, amongst other geological information and is preparing to develop the underground portion of the drill program. The sectional compilation resulted in several important findings. The work confirmed that the lode is comprised of a group of northwest trending, sub-parallel mineralized structures, rather than a simple vein system confined to a single fault zone. These structural groups coalesce into a single zone in the central part of the East-side area and diverge to the north and south to create zones up to 600-feet wide. The Company also discovered dike-like masses of quartz porphyry that have intruded into the main lode and have a direct relationship to the known mineralization.
Out of this extensive geologic work, a definitive underground target has emerged, specifically that part of the lode occupied by the above described mineralized mass of quartz porphyry, as well as the neighboring wall rocks. This conclusion is based on surface drill hole results, metallurgy, and proximity to the current Lucerne Mine floor, as well as past mining knowledge.
The results from the underground program will be incorporated into existing sectional data and, along with newly derived grade shells and grade models, an initial, phased internal reserve model will be created for this area. Developing a new underground access to the quartz porphyry structures and the almost adjacent Woodville Bonanza structures represents a significant opportunity for an accelerated, efficient underground mine plan in the Lucerne Area.
http://www.comstockmining.com/files/flipbooks/Proposed-Underground-Drill-ProgramLooking-NW-From-Top/
Evaluation of Existing Mine DumpsDuring late summer through autumn of 2014, the geological and environmental teams undertook a systematic evaluation of historic mine dumps throughout most of the central part of the District. Quantifying and understanding the nature of legacy contaminants and identifying the extent of mineralization with the potential to increase mineable resources were the two primary objectives. Overall, significant tonnages of mineralized dump materials were quantified. Most tonnages are directly to the east of the Lucerne mine and average around 0.025-0.035 opt Au. Dumps sampled for this evaluation are located within Gold Canyon, Storey County, on the east side of SR-342, and west of Silver City in Lyon County. Dumps sampled include the Silver Hills-Donovan (Eastside), Woodville, Lady Washington, Keystone, New York, and Oest. Total tonnages inventoried total over 640,000 tons.
"These near-surface drill results represent exceptionally higher grades than our current average mine grades. These discoveries of near surface, high-grade minerals on the East-side of Lucerne, the development of high-grade vein structures for underground feasibility and the discovery of good grading historic dump materials all provide immediate potential for expanding our operations," continued Mr. De Gasperis.
HOPE Gold CoinOn March 30, 2015, the Company received 300,000 coins ("HOPE Coins") issued by the HOPE Gold Coin Charitable Trust (the "Trust") as payment (and partial pre-payment) on the Mineral Rights License Agreement entered into by the Company with the Trust on October 9, 2014. The HOPE coins are considered a cryptographic currency. The Trust represents one of the first organizations effectively leveraging existing block-chain technologies and was recently named one of the top 25 companies on the Sand Hill Bitcoin Innovative Disrupters list. The HOPE Coins are being sold by the Trust for $10 each.
Hospitality SegmentEffective April 1, 2015, the Company entered into an agreement to lease the Gold Hill Hotel. The Company retains ownership to the land and Gold Hill Hotel properties while leasing the facilities to independent operators. Historically, the hospitality segment operated at a net loss but based on the current lease agreement, the Company does not expect any future net losses and more likely, prospective net lease and rental income.
SR-342 RealignmentIn early February, NDOT closed an approximate two-mile section of SR-342, south of Gold Hill, as a safety precaution following roadway cracking and area specific sinking during a weekend of heavy rains. The area of sinking is above a historic mine-shaft dating back to the early 1900's, and that portion of the road sits on old mine dumps and looser fill, that has a history of instability and, in some cases failure. The Company owns the land, with NDOT granted prescriptive rights to operate the state roadbed over that private land. Storey County, NDOT, the Company, and other applicable regulatory agencies evaluated several remedies for the realignment of SR-342. The route will be realigned to the east of the historic shaft, enabling safe travel, continuing operations and important reclamations, while positioning the area for future mining and development.
The realignment will occur over two phases, with Phase 1 completion taking approximately 10-12 weeks and Phase 2 requiring an additional six months. Phase 1 begins with the Company removing the unconsolidated fill that now exists above the base bedrock level and beneath the existing road followed by construction of a bypass road upon the base bedrock. Additionally, the historic Silver Hill Shaft will be capped permanently.
http://comstockmining.com/sr-342-construction-2015
Once Phase 1 is complete in June, the road will be reopened during construction of the second phase. Phase 2 includes removal of additional material on the east side of the canyon and will conclude with a tie in of the south end of the newly constructed alignment. A short closure will be necessary toward the end of Phase 2 for the tie in and completion of the realignment. The project is estimated to last through December of 2015, with an estimated cost of $3 million.
CorporateCash and cash equivalents on hand at March 31, 2015 totaled $4.2 million. Total long-term debt and capital lease obligations at March 31, 2015, were $14.1 million as compared to $13.5 million at March 31, 2014. For the remainder of 2015, the Company plans on spending approximately $3.5 million in capital expenditures, primarily the road realignment project and some infrastructural development. The Company also plans to pay down an additional $6.6 million in debt obligations, including $3.4 million on the Revolving Credit Facility.
OutlookThe Company expects to be cash positive from operations throughout 2015, while expanding our mining activities during the third quarter, including exploration and development of an underground Lucerne mine, a second Dayton mine plan and commencing the Dayton permitting.
Mr. De Gasperis concluded, "Our goals for this year are to ensure the lowest cost operating parameters and expand Lucerne, including a tremendous underground opportunity, while developing and commissioning Dayton. We expect to be cash positive from operations throughout 2015, while expanding our mining activities during the third quarter, including the initial underground target."
The Company will host a conference call today, April 16, 2015, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time. The live call will include a Q&A with accredited institutions, investors and analysts immediately following the prepared remarks. The dial-in telephone numbers for the live audio are as follows:
North American Toll Free: 1-866-253-4737International: 1-416-849-4292
The audio will be available, usually within 24 hours of the call, on the Company website:http://www.comstockmining.com/investors/investor-library
About Comstock Mining Inc.Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining, including concurrent and accelerated reclamations, soil sampling, voluntary air monitoring, cultural asset protection and historical restorations. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012. The Company continues acquiring additional properties in the district, expanding its footprint and creating opportunities for further exploration, development and mining. The near term goal of our business plan is to deliver stockholder value by validating qualified resources (measured and indicated) and reserves (proven and probable) of at least 3,250,000 gold equivalent ounces from our first two resource areas, Lucerne and Dayton, and significantly grow the commercial development of our operations through coordinated, district wide plans that are economically feasible and socially responsible.
Forward-Looking StatementsThis press release and any related calls or discussions may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Comstock. Forward-looking statements are statements that are not historical facts. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements include statements about matters such as: future prices and sales of, and demand for, our products; future industry market conditions; future changes in our exploration activities, production capacity and operations; future exploration, production, operating and overhead costs; operational and management restructuring activities (including implementation of methodologies and changes in the board of directors); future employment and contributions of personnel; tax and interest rates; capital expenditures and their impact on us; nature and timing and accounting for restructuring charges, gains or losses on debt extinguishment, derivative liabilities and the impact thereof; productivity, business process, rationalization, investment, acquisition, consulting, operational, tax, financial and capital projects and initiatives; contingencies; environmental compliance and changes in the regulatory environment; offerings, sales and other actions regarding debt or equity securities; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.
The words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential" and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors discussed in Item 1A, "Risk Factors" of our annual report on Form 10-K and the following: current global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources and reserves; operational or technical difficulties in connection with exploration or mining activities; contests over our title to properties; potential dilution to our stockholders from the conversion of securities that are convertible into or exercisable for shares of our common stock; potential inability to continue to comply with government regulations; adoption of or changes in legislation or regulations adversely affecting our businesses; business opportunities that may be presented to, or pursued by, us; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to unexpected equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, copper, diesel fuel, and electricity); changes in generally accepted accounting principles; geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues organically; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies and equipment raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to maintain the listing of our securities on any securities exchange or market; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement.
Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities. || Smartwatches Bring Good Vibrations: Much like mobile phones brought about an acronym-based texting language and smartphones allowed users to communicate with emoji's, the smartwatch is introducing a new language of its own — vibration.
The idea of communicating through tactile sensations may sound like an impossible task, but developers are using what they already know about people's responses to having their arms grabbed or their hands touched to create intuitive sensations that deliver information to wearers without them having to look down at their wrist.
Ahead Of The Curve
Immersion Corporation(NASDAQ:IMMR) is one such company whoseresearchcenters on how the public receives tactile messages. Called "haptic feedback," Immersion is the leader in creating tiny actuators that vibrate differently for different types of messages. The company uses strength and frequency to convey whether or not a message is time-sensitive or urgent and says its technology can produce between 40 and 70 recognizably different alerts.
Related Link:Expert: Why Apple Watch Will Be Apple's Most Upgradeable Product
The Language Of Feels
Communicating with users through tactile sensations is not a new concept. AtMicrosoft Corporation(NASDAQ:MSFT), haptics researchers have been working to develop a system that will allow users to feel textures on the smooth glass surface of their tablet or phone.Walt Disney Co(NYSE:DIS) is similarly looking into haptic technology in order to improve improve the company's games and movies.
Because this type of user engagement is relatively new, it can be difficult to determine how to correctly stimulate a consumer's tactile senses in a way that enhances their experience rather than taking away from it.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Regulation A Help Or Hindrance To Bitcoin?: As more and more regulated exchanges dealing in cryptocurrency trade emerge, the question of whether or not regulation takes away from the allure of bitcoin has been raised by many of the digital currency's supporters.
Central banks around the world are beginning to take notice of bitcoin and new restrictions could take away from the anonymity that many bitcoin enthusiasts enjoyed.
Regulation Paves The Way For Adoption
Most emerging exchanges believe that regulation is a key component in gaining mainstream popularity.
For the average investor, putting money into a completely unregulated market could feel a bit like putting it all on black at the casino. Regulation and security makes dipping a toe into a new market feel more comfortable, especially with all of the negative publicity bitcoin has received in the past year.
Bank Of England To Step In
This month the UK treasury announced its own interests in the digital currency space, saying that new anti-money laundering rules would be put into place in order to protect the growing industry.
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Small bitcoin-businesses cheered the proposal, saying that the rules would not only legitimize their industry in the eyes of the public, but that they will likely open banks' doors to startups dealing in digital currencies that are looking for small business loans.
Regulations Dampen Innovation
While most bitcoin supporters recognize that the cryptocurrency won't gain traction without some government intervention, many say it kills one of the best reasons to jump on board the bitcoin train.
Rover Ver, who has been called the "Bitcoin Jesus" toldFortunethat regulations weigh down innovation more than they build bitcoin up. Ver said he recognizes the importance of regulation in promoting mainstream adoption, but pointed out that digital currencies would move faster and further without the government's red tape.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Charities Are Turning To Bitcoin: A black cloud of skepticism has hung over bitcoin for the past year after several high-profile cases made the cryptocurrency out to be a criminal tool used for illicit purchases and scamming. However, as more and more merchants begin to adopt the cryptocurrency, many expect that it is heading toward mainstream adoption. With that in mind, several charities have opened their minds, and bank accounts, to accepting bitcoin. The Benefit Of Bitcoin Many charities like Save the Children, the American Red Cross, and Greenpeace have started accepting bitcoin donations. For them, it opens up a new market of donors who otherwise may not have given as much or even at all. Because bitcoin's transaction fees are much lower than those of credit and debit cards, donors can be sure that the charity is receiving the maximum benefit. Payments processor BitPay is a popular choice for charitable organizations as the company doesn't charge any merchant fee for non-profits and gives 100 percent of the donation to the charity. A New Image Some charities are hoping that bitcoin will revamp their images. By accepting bitcoin, charities are able to expose themselves to new, often younger, audiences and make their cause more accessible. For the moment, bitcoin donations typically make up only a small fraction of what charities bring in; but for many, establishing a bitcoin based donation option is important to propel the organization into the future. Related Link: Orange: The Latest Company To See Benefit In Blockchain Better For Donors Charities aren't the only ones who benefit from bitcoin donations. Many donors have found bitcoin to be an effective way to receive the maximum tax benefit for a charitable contribution. Because bitcoin is taxed as property instead of currency, donors can give bitcoins that have appreciated in value without paying capital gains taxes. The laws are similar to those governing the donation of stocks, making it a great way to make the most of tax deductions. Story continues See more from Benzinga Breakfast Of Champions: Is Pot Good For You? 3D Printers Take On Mars EU Closer To Resolving Google's Antitrust Issues © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Alternative Jetcoin Disrupts Sports Industry, Athlete And Fan Relationships Launching Cryptocurrency Presale: Bringing Wall Street And Blockchain Technology To The World Of Sports And Entertainment, Jetcoin Institute Is Pleased To Announce The Jetcoin Presale: Jetcoin Is Backed By Gold Bullion Allowing Anyone To Own IP Rights Of Promising Athletes And Talents SINGAPORE, SG / ACCESSWIRE / April 19, 2015 / Jetcoin, the new digital fuel for the world of sports and entertainment, gives fans and supporters a unique opportunity to benefit directly from the success of their favourite athletes and stars. It disrupts traditional fan-athlete/talent relationships by enabling anyone to launch and support the careers of tomorrow's stars. Using block chain technology, Jetcoin decentralises the world of sports and entertainment, ruled today by powerful agents and corporations. Jetcoin tilts the power balance by establishing the first platform where anyone can own IP rights of promising athletes and talents. Also the first digital currency to be backed by precious metal collateral (gold) via a partnership with XNF, Jetcoin is tradeable across 3 continents through DXMarkets. Uniquely backed by physical assets, Jetcoin is issued by the Jetcoin Institute, which has gathered a team of first-class advisors led by world famous currency expert, Prof. Bernard Lietaer. The Jetcoin Platform will be built with NXT technology to deliver a unique and decentralised financial platform. Jetcoin holders are able to earn revenues through Jetcoin Contracts and its social media rewards system, P.O.S.E. (Proof Of Social Engagement) as well as access unique lifestyle experiences. In August 2014, in a bid to both establish the branding of Jetcoin internationally as well as to secure a testing ground for a myriad of innovative tech applications and crowd funding concepts customised for sports and entertainment, Jetcoin became the first digital currency to become the main sponsor of a Serie A football team, A.C. ChievoVerona. In developing the Jetcoin ecosystem of partnerships, deals have been made with top service providers like Samsung Sportsflow and Pogoseat to optimise fan experience and engagement in sport entertainment. Jetcoin Institute has also recently developed and launched Stadia, a free sport app aimed at increasing fan interaction and engagement during live football. Story continues For a limited time period, jetcoins are available at a promotional price of US$ 0.02 at the official website implementation by https://jetcoininstitute.com. Compared to the Bitcoin, whose rise from its initial sale price of less than US$0.01 to its peak of US$1250, Jetcoin - backed by physical assets - is poised to track an interesting trajectory. About Jetcoin Main sponsor of Serie A football team, A.C. ChievoVerona, 'jetcoin' is a new digital fuel issued by the Jetcoin Institute. It gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favourite athletes and stars, both financially and also through unique lifestyle experiences such as seat upgrades, access to VIP boxes, exclusive events, behind-the-scenes and/or after-parties etc. Jetcoin Institute continues to work with partner teams, brands and service providers to offer exclusive deals to jetcoin holders. Visit https://jetcoininstitute.com About Prof. Bernard Lietaer Prof. Lietaer is the author of The Future of Money (translated in 18 languages), and is an international expert in the design and implementation of currency systems. He co-designed and implemented the convergence mechanism to the Euro. Visit http://www.lietaer.com About A.C. ChievoVerona A.C. Chievo Verona is a professional Serie A Italian Football club named after and based in Chievo, Verona, in the Veneto region. Visit http://chievoverona.tv About Samsung Sportsflow SportsFlow delivers the latest sports news, photos and videos from around the world via one single app. Visit http://www.sportsflow.me About XNF XNF is a digital currency with a physical collateral in GOLD. XNF Trading provides the easiest way to acquire virtual currencies (Jetcoin - XNF) in exchange for traditional currencies (USD and EUR) and bitcoins. Visit http://www.nofiatcoin.com About DXMarkets DXMarkets is a cutting-edge trading platform for digital currencies. The platform offers a fully customisable dashboard that caters for beginners and experienced traders. DXMarkets aims to position itself as the preferred choice for financial institutions wanting to integrate digital currencies into their product portfolio. Visit https://dxmarkets.com About NXT NXT is an open source cryptocurrency and payment network, using proof-of-stake to reach consensus for transactions. As such there is a static money supply and no mining as with Bitcoin. NXT is specifically conceived as flexible platform to build applications and financial services around. Visit http://www.nxt.org About Pogoseat Pogoseat is an enterprise solution for sports teams and concert venues that enables their fans to upgrade seats and purchase unique VIP upgrades. Pogoseat currently works with clients across the NBA, MLB, NHL, AFL, The Football League and NCAA all over America. Visit https://www.pogoseat.com About Stadia Stadia is a free app powered by Jetcoin that optimises fan experience during live football, available for download on Android and IOS. Visit http://www.stadia.club For more information about us, please visit https://jetcoininstitute.com Video URL: https://www.youtube.com/watch?feature=player_embedded&v=U6p-3VYPLVg Contact: Celia Wong pr@jetcoininstitute.com Jetcoininstitute Source: Jetcoin || 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) || Greece's Drama Set To Continue Through The Weekend: This weekend, EU finance ministers are set to meet in Riga, Latvia, where they will discuss the state of the ongoing negotiations over Greece's bailout funds.
However, Athens' strained relationship with many of its creditors and a general feeling of mistrust between the two sides will likely hinder forward progress.
Running Out Of Cash
Greece has been quickly running out of funding over the past three months, as negotiations for its next injection of cash have hit a wall.
The nation's creditors say that Greek officials have not provided the necessary data to give them an accurate portrayal of the nation's financial condition andclaim thatPrime Minister Alexis Tsipras' reform proposals are insufficient and do not demonstrate a real commitment to change.
Related Link:EU Policymakers Express Frustration As Greek Bailout Talks Flatline
Strained Relationships
Tsipras, who was elected into office based on his promises to end Greece's austerity programs, has been at odds with his EU creditors over how to shore up his nation's balance sheet.
German officials have becomeincreasingly skepticalabout sending more cash, as they consider Tsipras' reversal of several previously agreed upon bailout conditions a violation of Athens' bailout contract.
Grexit?
Although there has been some rhetoric about allowing Greece to leave the eurozone, most don't expect that to be the final outcome.
On Tuesday, the head of the eurogroup Jeroen Dijesselbloem assured markets that a Grexit is not an option and that it would be in everyone's best interest to keep Greece inside the eurozone.
This weekend, Dijesselbloem said he is hoping the region's finance ministers will make some progress toward a deal in order to get the funds to Greece before its loan repayments bankrupt the government.
Image Credit: Public Domain
See more from Benzinga
• Bitcoin Makes Its Way To Social Media
• What Will Google's Wireless Service Look Like?
• House Set To Review And Pass Controversial Information-Sharing Bill
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$287.71 at 21:45 UTC [24h Range: $273.83 - $289.00 Volume: 11532 BTC] || BTCTurk 751.76 TL BTCe 277.99 $ CampBx 295.00 $ BitStamp 283.56 $ Cavirtex 320 $ CEXIO 280.96 $ Bitcoin.de 271.45 € #Bitcoin #btc || current #bitcoin price (bitstamp) is $234.98, last changed Wed, 22 Apr 2015 00:32:44 GMT. queried at: 00:32:47 || Current price: 150.15£ $BTCGBP $btc #bitcoin 2015-04-29 08:00:05 BST || In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $849.00 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $676.28 #bitcoin #btc || Bitcoin traded at $250.82 USD on BTC-e at 11:00 AM Pacific Time || BTCTurk 724.38 TL BTCe 287.133 $ CampBx 308.54 $ BitStamp 287.83 $ Cavirtex 271.00 $ CEXIO 284.18 $ Bitcoin.de 269.11 € #Bitcoin #btc || current #bitcoin price (winkdex) is $220.01, last changed Wed, 15 Apr 2015 19:00:00 GMT. queried at: 19:02:31 || Current price: 231.69€ $BTCEUR $btc #bitcoin 2015-04-08 12:00:04 CEST
|
Trend: no change || Prices: 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-10-22]
BTC Price: 12965.89, BTC RSI: 80.99
Gold Price: 1901.10, Gold RSI: 48.07
Oil Price: 40.64, Oil RSI: 51.52
[Random Sample of News (last 60 days)]
ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 19, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, 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. 1-800-204-6203info@alt5sigma.com
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/606883/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Ban All Ransomware Payments, in Bitcoin or Otherwise: We all know it’s illegal to kidnap someone and ask for a ransom payment. But should it also be illegal for the victim to pay the ransom?
Earlier this month the U.S. Treasury Department did just that. It notified the world that certain ransom payments are illegal, specifically those to sanctioned ransomware operators. Should a victim pay a ransom to a sanctioned entity, that person may face a big fine.
J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and a financial writer at a large Canadian bank. He runs the popular Moneyness blog.
Related:What the History of Headphones Says About the Internet's Future
Punishing ransom victims seems heartless. But it may be one of the best ways to protect the public from extortionists. And if it wants to make a serious dent in the growing ransomware market, the Treasury Department will have to go much further than putting a few entities on its sanctions list.
On Oct. 1, the U.S. Treasury’s Office of Foreign Assets Control (OFAC)published a noticereminding everyone that several ransomware operators have been put on OFAC’s list of sanctioned entities, otherwise known as itsSpecially Designated Nationals (SDN) List. The agency’s letter clarifies that should a victim make a ransom payment to an OFAC-sanctioned ransomware operator, that person could be breaking the law.
Ransomware is malicious software that blocks access to a computer system by encrypting data. Once the data is locked, the ransomware operator demands the victim pay a ransom in exchange for a decryption key.
The emergence ofbitcoin, a digital, uncensorable asset, has made it particularly easy for ransomware operators to profit from their attacks. The earliest bitcoin ransomware strainstargeted regular consumerswith $300 or $400 ransoms. In 2019, operators like Sodinokibi, Netwalker and REvil began to move on to attacking corporations, municipal governments, school boards and hospitals.
Related:The US Risks Getting Left Behind on CBDCs
See also:JP Koning –Bitcoin’s Ransomware Problem Won’t Go Away
The ransoms have gotten much larger. This summer, the University of Utahpaid $457,059 in bitcoinfor a decryption key. CWT, a travel company, paid$4.5 millionto Ragnar Locker ransomware operators in July. The list of victims grows longer by the hour.
The damage involves more than just the ransom fee. Many organizations bravely refuse to give in to the ransomware operator’s demands. Rebuilding their network often costs more than the actual ransom payment. The crippled system will likely remain down for days, even weeks. The Government of Nunavut, a Canadian territory,couldn’t serve citizensfor almost a month after it refused to pay Dopplemayer ransomware operators.
Society’s response to ransomware is an example of a collective action problem. The public would be better off if everyone cooperated and refused to pay money to ransomware operators. With no incoming ransom income, the ransomware business would be unprofitable, attacks would cease and the collateral damage would stop.
Unfortunately, spontaneous cooperation between thousands of corporations, governments, and nonprofits is difficult to achieve. Any attempt to boycott ransom payments must rely on appeals to solidarity. But organizations will face pressure from shareholders or citizens to recover as quickly as possible, and so they will secretly pay. If 10% or 20% of victims defect from the boycott and pay the ransom, then the ransomware industry will be profitable and so everyone suffers as the blight continues.
Banning ransomware payments may not be the perfect option for stopping the growing ransomware wave, but it may be the best option we’ve got.
One way to fix the collective action problem is for the government to help push the public towards the best solution. The government can do this by declaring ransom payments illegal, and setting a penalty for rule breakers. The punishment for breaking the law would be a $20 million fine, or something like that.
Now when a ransomware operator attacks, all the victims cooperate by default. “No, we can’t pay you. If we do, we’ll have to pay an even larger fee to the government.” Ransom payments will stop, ransomware operators will cease their attacks and the damage ends.
Using the government to arrive at the best solution to a collective action problem isn’t without precedent. Another type of shady payment, the payment of bribes, provides a useful analogy.
If companies must habitually bribe foreign government officials for contracts, then that drives up the costs of doing business. The public would be better off if everyone refused to pay a bribe. But cooperation is difficult.
Until the 1970s and 80s, foreign bribes were valid tax deductions in many countries. But efforts like theU.S.’s Foreign Corrupt Practices Act of 1977(FCAP) made it unlawful to bribe foreign government officials. Multinationals can now push back against bribery requests by pointing to FCAP. This helps push society arrive at the no-bribe solution.
The U.S. Treasury’s recent clarification about the illegality of certain ransom payments only goes part of the way. It prohibits payments to a few bad actors, but there are many ransomware operators that do not appear on OFAC’s SDN list. To help solve the collective action problem, OFAC would have to be more proactive in designating ransomware operators.
See also:G7 Warns of Crypto Threat From Tidal Wave of Ransomware Attacks
Sussing out the names and identities of all the producers and distributors of ransomware seems like an impossible task, however. It would be much easier to declare a blanket ban on all ransomware payments, just as how FCAP bans bribery. Ransom bans aren’t without precedent. In response to a wave of kidnappings by organized crime, Italyprohibited ransom paymentsin 1991. Colombia and Switzerland have also made ransom payments illegal. The Group of Seven has a long-standing policy of refusing to pay ransoms for hostages of terrorist groups.
The knock against prohibiting either bribes or ransom payments is that it forces the market to become more opaque. If it is legal to make a bribe, then the bribe payer can report the bribe taker. This serves to limit the market for bribes. Ban bribes and the bribe payer is incentivized to cooperate with the bribe taker to keep things secret.
This is why Kaushik Basu, the former chief economist at the World Bank, haslong advocatedfor legalizing bribe payments.
As for ransomware, victims who pay a ransom can report the attack to law enforcement agencies like the Federal Bureau of Investigation without fearing a fine. This allows the FBI to follow up. But if it is illegal to pay a ransom, then victims that choose to pay will keep their actions a secret. Lacking accurate data, the FBI will do a poorer job of defending against ransomware.
The other knock against banning ransomware payments is the perceived inhumanity of it. Try telling a mother or father that it is illegal for them to pay a ransom to free their kidnapped child. The same goes for ransomware. A school board that has been crippled by ransomware can immediately resume classes by paying a $20,000 bitcoin ransom. But under a prohibition, children may have to go a week or two without classes as the school board rebuilds its systems.
There are also civil liberties concerns. Businesses will argue that a ban on ransoms infringes on their ability to control their property.
When extortionists find profitable ways to bilk the public, one way to fight them is to make changes to the underlying payments platform that the scammers are using. Internal Revenue Service scammers converged on Green Dot MoneyPak cards in the mid 2010s as a useful way to extort innocent Americans. The chosen solution wasn’t to tell victims that paying ransom was illegal. Rather, Green Dot Bank pulled the product for a yearand reprogrammed it. And it worked. Criminals have moved on from using MoneyPaks to do IRS scams.
Unlike MoneyPaks, bitcoin can’t be reprogrammed. That leaves society with one less option for protecting itself from ransomware attacks. And so the “no payment” solution to the collective action problem beckons. Banning ransomware payments may not be the perfect option for stopping the growing ransomware wave, but it may be the best option we’ve got.
• Ban All Ransomware Payments, in Bitcoin or Otherwise
• Ban All Ransomware Payments, in Bitcoin or Otherwise || Why Square Is Jamie Dimon's Favorite Mistake: In February of 2019 at JPMorgan Chase’s annual investor day in New York, Jamie Dimon was asked a very provocative question and he gave a very surprising answer. According to Andy Peters in the 2/26/19 American Banker article JPMorgan's Dimon: Square innovated where we should have, the boss was essentially asked "what companies could get steamrolled by his bank." Long seen as a fast-moving financial services disruptor under his leadership, JPMorgan was investing billions of dollars every year in technology and had just debuted its own "online-only" bank, dubbed Finn. It was also set to become the first U.S. bank to launch a cryptocurrency, as I talked about in this November 2017 podcast and article... Bitcoin or CRISPR: Which is the Bigger Disruptor? Here's an excerpt from that Nov '17 podcast/article... Bitcoin and the Madness of Crowds Now, let's talk about this crazy mania going on in Bitcoin (BTC). Why is it surging above $10,000, more than doubling in a few weeks? Hedge fund manager Mike Novogratz would sum it up in just four words: the herd is coming. He's been saying that for at least a few months and what he means is that people -- and bankers -- are starting to catch on that there is something real and significant about these technologies. We've covered bitcoin and blockchain twice here this month and I speculated it could go to $20,000 next year as more financial institutions adopt different aspects of this new asset class. Headlines about JPMorgan JPM creating a blockchain platform around the ethereum protocol, CME Group CME planning to launch a futures contract on bitcoin, and Amazon AMZN buying three domain names for cryptocurrency-related businesses certainly have thrown some gasoline on the crypto bonfire. But I didn't understand blockchain and bitcoin well enough to invest in it even a month ago. Then I did some more homework and began to dabble. And whenever I do that, my learning curve really ramps up. As I prepared my notes for this podcast, I had in mind a goal to warn anyone considering a bitcoin or other cryptocurrency investment to pay attention to the volatility. This new asset class is inviting all kinds of wild speculation, both in terms of what is theoretically possible and in terms of what price the other guy will pay for it. In the hour before I just entered the studio to record this podcast on Wednesday November 29 (2017), the price of bitcoin plunged from $10,400 to $8,600 between 2pm and 3pm ET. As I type at 5pm, the majordomo crypto is trying to get a solid foothold back above $10K. (end of excerpt from Nov '17 podcast/article) Jamie's Not Cryin', But He Regrets a Couple Things So what did Jamie Dimon say in response to the "steamroller" query? From Andy Peters again... "But rather than answer that question directly, Dimon responded by praising a company, Square, that has done things he wishes JPMorgan Chase had done." Check out the video that accompanies this article to see exactly what Jamie said. I also name the single best analyst on Square SQ who always understood its potential and kept you long the stock since its IPO in November of 2015. And I dive into Square's recent purchase of $50 million worth of Bitcoin -- 4,709 "coins" to be exact at a purchase price in the neighborhood of $10,600. Which is almost another "end-run" by Jack Dorsey over Jamie Dimon as far as who would become the King of Crypto! I wanted to understand what a $50 million stake meant for Square -- or any crypto crazies like me and Dave Bartosiak, who heads the Blockchain Innovators portfolio -- so I searched for other large public holders and found a great resource and table you'll see in the video. It really puts Bitcoin in perspective in multiple ways for many different investors and use cases. Clearly, the Grayscale Bitcoin Trust GBTC owns the most BTC units with nearly 450,000 valued at over $5 billion (about 90% of assets). What you might be surprised to find is that a little business intelligence software and logistics company called MicroStrategy MSTR, founded in 1989, already owns a boatload more Bitcoin than Square with 38,000+ units valued at over $430 million. MicroStrategy has invested more in Bitcoin than some of the ETFs that have to own it, and it represents fully 25% of their $1.6 billion market cap. Obviously, the management team there saw an opportunity to use their cash to invest in a crypto-blockchain future as it dovetails with BI software, payments, and global logistics. Why Square Wants the BTC As far as Square's "use case" for BTC, it's actually more than I first considered. The obvious case to me, ever since they allowed Bitcoin transactions on the Cash App over 2 years ago, was they just wanted to give their customers broader access to more digital and global payment/finance options. But as I show in the video, Dorsey's mission is much broader and almost always about "democratizing" finance and technology for the little guy. I do this by showing the @Square Twitter TWTR feed (of which @Jack is also the captain) where they announce the mission and meaning this way on October 8... "Today, @Square announced that it has purchased $50M in bitcoin. Square believes cryptocurrency is an instrument of economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose. For more, visit https://squ.re/investors." That link leads you to a white paper titled Square, Inc. Bitcoin Investment Whitepaper, which I show in the video. To be sure, $50 million is peanuts and pocket change for Square. It's less than 1/10th of 1% of the company's current $85 billion market cap. But the investment does represent approximately one percent of Square’s total assets as of the end of the second quarter of 2020, per their Investor Relations. Still, it's both a renewed commitment to offering flexible, advanced-technology digital finance solutions to their small business customers and a deeper validation of the privacy-liberty-autonomy values of crypto and blockchain at their core. Here are the opening paragraphs of the Square whitepaper... Square has been a leader in the bitcoin space since 2018 through our Cash App product, which provides customers the ability to buy and sell bitcoin. As believers in bitcoin’s potential for continued future growth, the company formed Square Crypto, an independent team solely focused on contributing to bitcoin open source work for the benefit of all. Square also recently launched the Cryptocurrency Open Patent Alliance (COPA), a non-profit organization encouraging crypto innovation, opening access to patented crypto inventions, and helping companies and individuals defend themselves against patent aggressors. Given the rapid evolution of cryptocurrency and unprecedented uncertainty from a macroeconomic and currency regime perspective, we believe now is the right time for us to expand our largely USD denominated balance sheet and make a meaningful investment in bitcoin. We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around the world to participate in a global monetary system and secure their own financial future. This investment is an important step in furthering our mission. Powerful stuff from JD (Dorsey, not Dimon). The Failure of Finn As if Jamie Dimon didn't have enough headaches getting beaten at every turn in digital finance by the other JD (@jack), his attempt to innovate and capture Millennial banking customers with the all-digital Finn platform fell flat on its face as these headlines from Bloomberg and Business Insider, respectively, made clear in June 2019... JPMorgan Closes Finn, Digital-Only Bank, a Year After Launch Here’s why JPMorgan got Finn wrong Be sure to watch the video where I also go over details about the Advanced Micro Devices AMD potential $30 billion bid for Xilinx XLNX, which many analysts feel is dead in the water at the start. It seems to be the exact opposite take-over drama from this fairy tale love story I reviewed last month... NVIDIA Strikes an ARMs Deal to Take All the Chips AMD and NVIDIA NVDA are going crazy right now to grab market share from Intel. And it's working. It certainly doesn't hurt that Bitcoin is in bull mode again and crypto miners need all the high-powered GPU cards they can get from both of these top engineering labs. Catch Cook's Kitchen every week for the latest, greatest takes in Tech Stocks that you won't get anywhere else! Disclosure: I own NVDA, SQ, and AMD shares. The Hottest Tech Mega-Trend of All Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase Co. (JPM) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report CME Group Inc. (CME) : Free Stock Analysis Report Xilinx, Inc. (XLNX) : Free Stock Analysis Report MicroStrategy Incorporated (MSTR) : Free Stock Analysis Report Twitter, Inc. (TWTR) : Free Stock Analysis Report Square, Inc. (SQ) : Free Stock Analysis Report Grayscale Bitcoin Trust (GBTC): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research || ‘We Blew It.’ Douglas Rushkoff’s Take on the Future of the Web: Douglas Rushkoff is a futurist, author, early cypherpunk and professor of media studies at Queens College. His early writings on the internet paved the way for thinking about the web in revolutionary terms, as a tool to enfranchise and connect the world. In years since, Rushkoff has been an outspoken critic of the way the web has developed. A handful of tech monoliths – Facebook, Google and Amazon – dominate our digital experiences and monetize our attention, finding increasingly manipulative ways to keep us logged on. Rushkoff, a proponent for mutual aid , thinks we might be better off unplugging and returning our attention to the communities around us. CoinDesk caught up with him in early-September for a discussion about the idealism of the early web, where things went wrong and the ways it might be improved. He’s not optimistic about blockchain tech broadly, but thinks it could play a key part in returning power to individuals. Related: DAOs Will Never Govern the World (at This Pace) You recommended I read the Story of Joseph in preparation for this interview, saying to understand the future we should look to the Bible. In the spirit of looking back to better predict the future: Why are people so obsessed with the early cypherpunks and their altruistic vision for the internet? Part of the reason people are interested now is because of the direction we went. There was a collection of cyber-altruists who saw in the internet a way to topple, or challenge, the hierarchies of politics and media. It was the era of William Randolph Hearst, Rupert Murdoch and Ronald Reagan. With the internet we thought we had our hands on the very dashboard of socio-political and economic creation. It was a wonderful moment. See also: Tim Draper – I’m As Certain As Ever – Bitcoin’s Revolution Is Only Just Beginning I think people sense the potential is still there. If we hadn’t weaponized this stuff against humanity in the name of increasing the NASDAQ stock exchange, what may have we gotten? Would we have saved – now it’s too late – civilization? That was the last moment at which we had the potential to change the world. Related: Did Ethereum Learn Anything From the $55M DAO Attack? But we decided it was more important to build up our 401(k)s . Why do you think civilization is too late to save? I think climate change is the most pressing issue. I’m a believer. I look at the California wildfires, COVID-19 and other weird diseases, like mad-cow, as symptoms of climate change. Story continues Unless growth-based economics and corporate capitalism are reversed, there’s no way to stop it. We’ve had ample opportunities to adopt different models. Now, we may have passed a certain tipping point. Even looking at crypto. People can’t help but turn it into a speculative medium, rather than using it to increase the velocity of money. We won’t use the tools we have for what they’re built for. The whole point of crypto was to break the pyramid scheme of central bank planning and currency, yet here we are using it as a meta-pyramid scheme. See also: Alex Tapscott – Financial Services: The Coming Cataclysm The reason why I’m interested in crypto, and plenty of others too, is because it’s a return to thinking about technology as a series of open and democratic systems. There’s a sense crypto has lost its way , but it also seems like our best hope of beating the current exploitative and extractive system. Well, I don’t send my email with crypto or make videos with crypto. It’s not an alternative to a communications network. You’re saying it might be an alternative to an extractive NASDAQ-stock-exchange-capitalism-thing. Potentially any data extractive system. I don’t understand how changing the ledger changes the underlying value exchange. It depends on what the internet is for. If people want to make reams of money through the internet or establish monopolies to overtake various economic sectors – like Uber did to taxis – it doesn’t matter what medium you use to do it. If the job of crypto is to facilitate collaboration or value exchange between people and enterprises that don’t trust one another, then crypto is useful. It can serve as a Kickstarter-like mechanism that would allow internet enterprises to capitalize without turning to Union Square Ventures or one of those entities. And it can help engineers build an Amazon-alternative or other DACs [decentralized autonomous corporations] where a bunch of programmers based around the world can record who’s worked and who hasn’t and who has contributed what. There are civilizations and history that we need to bring into the future with us. When you only look forward you don’t see your own exhaust. But that’s if we live in a world where trust cannot be engendered between people. All the successful collective enterprises I know of are based in trust – they have a committee that people trust to oversee it. Beyond that, crypto doesn’t change the fundamental approach to participating in the underlying economy: which is to say we’re all here to feed the engine of growth-based capitalism. Let me repeat that back to you. You’re skeptical on crypto because, even if it facilitates novel fundraising techniques, it won’t address the underlying issue of how society is structured. Could talk to how social currencies or local currencies – which you’ve written about – may be tools to develop or keep trust within communities. See also: The Queens Politician Who Wants to Give New Yorkers Their Own Crypto I’m not saying crypto is completely out of the question. You can base a time-dollar system on a blockchain. For a larger town, not like mine of 4,000 people, you could easily build a local currency appended to a distributed ledger for use in town-to-town local transfers or among locally-run businesses. Those sort of crypto-anarcho-syndicalist systems could use crypto to facilitate trade, absolutely. But we’re not talking about how to build a better internet, we’re talking about how crypto can engender a different society – which is a whole different question. I believe society can change. The main thing I’m pushing is mutual aid. The way to get through this crisis is good old fashioned mutual aid, what black people did in America as slaves and beyond. They had black cooperative economics since the 1700s, where they would use chain migration to buy themselves out of slavery. The mutual aid they did – their ability to pool money and build communities – made them so much more prosperous than their non-segregated white neighbors that it caused riots. That sort of economic activity tends to happen when people have no other way – when they have no hope. Maybe, speaking optimistically now, things have gotten so bad that people would be willing to turn to it again like they did in the Great Depression. People had alternative currencies and farm monies and all sorts of things considered “red.” It wasn’t really radical: It was people realizing they don’t exist to serve the banks, but each other. Crypto is a way to get along without a bank. It’s a means to authenticate transactions in a marketplace where you don’t know anyone, where the butcher, cobbler and pharmacist are strangers. Assuming the internet develops along its current path where life is becoming more web-mediated, how might that affect the possibility of mutual aid. Mutual aid is by definition less web-mediated. We’re in a place where people need food, water and shelter. The internet can never deliver on those basic human needs – it might be good at putting sensors in your field so you can have digitally-enabled-permaculture-rejuvenated-agriculture or to monitor water usage or distribute extra food to less well-off nations. But that’s not the act of distributing basic needs. See also: Bitcoin Is a Way to Repair Economic Injustice: Author Isaiah Jackson In a few of your recent pieces published on OneZero you’ve put forward that technologists often see themselves as being brains without bodies. This kind of thinking also extends, not explicitly, into how you write about our non-connection with the Earth. You mention strip mining lithium, a destructive process , as being out-of-sight out-of-mind. Where does this thinking process come from? Why do we forget that we’re embodied or live within an environment? These guys do know they are embodied. They’re all in better shape than me! They all have Fitbits and read Daniel Schmachtenberger and optimize their cerebral spinal fluids for if they’re thinking today or coding or going for a run. They get their blood levels “just right” for the task at hand. It’s more a matter of the way they see their relationship with themselves as individuals in larger systems. They look at human consciousness and will as something that can dominate nature. That’s why I always go back to Francis Bacon , who said science will allow us to take nature by the forelock, hold her down and submit her to our will. When you talk to the Center for Humane Technology people, they’re all about how we can upgrade humans to make them more compatible with digital societies. It’s always from the perspective of doing tech to people. Rather than how people are using tech. There are some people like [Ray] Kurzweil who really do want to get people out of their bodies, escape from the chrysalis of matter into pure consciousness. See also: Ben Goertzel – Say Hello to the Singularity The problem with “techbro” culture is not that they’re white males. It’s their belief in progress. You can’t only look forward – there are civilizations and history that we need to bring into the future with us. When you only look forward you don’t see your own exhaust. There’s a disconnect from the consequences of your actions. What role do you think technology will play in human evolution? There isn’t much of a choice about the impact of technology on our evolution. Cooking was a technology and it allowed for our mouths and teeth to adapt beyond having to grind down seeds. I think sometimes we mistake cultural evolution for the real thing. Evolution happens slowly: It’s not like we’ll get the Oculus Rift and in two generations people will be capable of anything more than we are today. You’re not related to Thomas Kuhn are you? No, but I’m familiar with his work on scientific revolutions. I’m not entirely sure how true it still is – the idea of seismic shifts. It’s not a perfect analogy, but we went from a period of pretty intense industrial development and scientific fine tuning, to what appears to be more incremental progress. I think about the progression from canals to railways to automobiles and planes – where are we now, what’s the next possible paradigm shift? The car killed the railroad and the smartphone kills everything. What kills the smartphone? We’ll see. If it’s anything it’ll be something like Alexa. She’ll be everywhere and know your voice and preferences. She’ll know who your mother is , not just remember her birthday for you. That sounds frightening. What are your biggest fears about the internet today? My biggest fears have already been realized. I wrote about this in the 90s, that we’ll create a feedback loop when teaching computers how to think. They’ve already learned how to manipulate human thought and behavior and will keep getting better at it. There are hundreds of thousands of engineers and executives serving the machines’ agenda, with little regard to making anyone’s life any better. They’re not asking how to improve humanity, they’re asking how we can sell more hardware and extract more data. The best companies out there are the ones offering ways to undo the ill effects of the technologies we’re already using. I suppose they’re all on AWS [Amazon Web Services] anyway. They don’t have blockchains on AWS do they? AWS has its own blockchain management business. That’s like going to the devil for god. It defeats the purpose. That’s what the entire internet has become. I wonder sometimes – not that everyone needs their own server – if the cloud has disconnected people from the original hands-on, DIY-hobbyist ethos from the early days. Your computer used to be like a skateboard, you’d crack it open and test out new graphics cards. The internet has become less-and-less something you build, and more-and-more a state of being. Do you believe there is something deterministic about the way the web has developed. Did it have to become a hyper-capitalist hellscape and must it continue down this path? Kevin Kelly talks about this as “ The Inevitable. ” When I search my heart, I look at the problem as being that we never recognized the awesome power of corporate capitalism. We were kids when John Barlow wrote “ A Declaration of the Independence of Cyberspace .” He was an adult, he wrote for the Grateful Dead, he’d taken more acid than any of us, he rode horses in Wyoming. We thought he knew more than us. He was a mentor, an elder. We understood what he was saying as a revolution from the government. At the time, the feds were raiding hackers for experimenting with code, the media labelled us anarchists and Congress was pushing through the Communications Decency Act. Barlow said: Government Leave. And we cheered. We didn’t realize we were creating a safe haven for corporations. Barlow did because he was a true free market libertarian. The underlying operating system of the world is capitalism, which is how we extract time and resources from people and places and convert it to capital. When you decide to energize capitalism with digital devices, you amplify its power. It’s no longer the mechanical age of capitalists versus labor, but a digital, infinitely-scaled version that uses human attention as its surface area. We blew it. Related Stories ‘We Blew It.’ Douglas Rushkoff’s Take on the Future of the Web ‘We Blew It.’ Douglas Rushkoff’s Take on the Future of the Web View comments || The Crypto Daily – Movers and Shakers – September 13th, 2020: Bitcoin, BTC to USD, rose by 0.51% on Saturday. Following on from a 0.49% gain on Friday, Bitcoin ended the day at $10,458.0. It was a mixed start to the day. Bitcoin rose to an early morning high $10,415.0 before sliding to an early afternoon intraday low $10,287.0. Steering clear of the first major support level at $10,255, Bitcoin rallied to a late afternoon intraday high $10,492.0. Coming up against the first major resistance level at $10,496 and resistance at $10,500, Bitcoin eased back to limit the upside on the day. The near-term bullish trend remained intact, in spite of the latest pullback to sub-$10,000. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was another mixed day on Saturday. Bitcoin Cash SV (-0.14%) and Tron’s TRX (-2.39%) saw red to buck the trend on the day. It was a bullish day for the rest of the majors, however. Binance Coin surged by 12.08% to lead the way. Bitcoin Cash ABC (+2.53%), Ethereum (+3.71%), Litecoin (+3.80%), Monero’s XMR (+2.83%), and Ripple’s XRP (+1.90%) also found strong support. Cardano’s ADA (+0.73%), EOS (+0.60%), Stellar’s Lumen (+0.26%), and Tezos (+0.94%) trailed the pack, however. In the current week, the crypto total market fell to a Tuesday low $297.87bn before rising to a Saturday high $327.48bn. At the time of writing, the total market cap stood at $324.97bn. Bitcoin’s dominance rose to a Monday high 61.28% before falling to a Saturday low 59.17%. At the time of writing, Bitcoin’s dominance stood at 59.28%. This Morning At the time of writing, Bitcoin was down by 0.22% to $10,435.3. A bearish start to the day saw Bitcoin fall from an early morning high $10,461.1 to an early morning low $10,435.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash ABC (+0.39%), Bitcoin Cash SV (+0.94%), and Ripple’s XPR (+0.20%) found support early on. Story continues It was a bearish start for the rest of the majors, however. At the time of writing, Tron’s TRX was down by 1.28% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $10,412 pivot level to support a run at the first major resistance level at $10,538. Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $10,492.0. Barring an extended crypto rally, the first major resistance level and resistance at $10,500 would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $10,617. Failure to avoid a fall through the $10,412 pivot would bring the first major support level at $10,333 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,200. The second major support level at $10,207 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: NZD/USD Forex Technical Analysis – Tight Trading Range Suggests Trader Indecision, Impending Volatility Organic Soybean Prices Continue to Experience Tailwinds S&P 500 Weekly Price Forecast – Stock Markets Take a Dive USD/JPY Forex Technical Analysis – Strengthens Over 106.306, Weakens Under 106.077 The Crypto Daily – Movers and Shakers – September 12th, 2020 Gold Price Prediction – Prices Slip and Trade Sideways Despite Robust Inflation || Marathon Brings New Bitcoin Mining Rigs Online, Sees Itself Becoming Cash-Flow Positive: Nasdaq-listed cryptocurrency mining company Marathon Patent Group received and deployed two shipments of new mining machines, which increased the company’s hashrate by 130 petahash per second to 186 petahash per second.
• According to anannouncementMonday, the company received 700 WhatsMiner M31S+ Miners from MicroBT and 600 S19 Pro Antminers from Bitmain.
• 1,000 additional S19 Pro Antminers are expected to arrive between September and December this year leading to an expected additional hashrate increase of 153.4 petahash per second.
• “We believe that the increased hashrate production will mean the company will become cash-flow positive on a go forward basis for the first time since we embarked on this pivot to become a bitcoin mining company,” said CEO Merrick Okamoto.
• Marathon shares, which were already down about 50% from their yearly high set earlier in August, are down 10% from their Monday open, trading around $2.52 at last check.
• Marathon Brings New Bitcoin Mining Rigs Online, Sees Itself Becoming Cash-Flow Positive
• Marathon Brings New Bitcoin Mining Rigs Online, Sees Itself Becoming Cash-Flow Positive
• Marathon Brings New Bitcoin Mining Rigs Online, Sees Itself Becoming Cash-Flow Positive
• Marathon Brings New Bitcoin Mining Rigs Online, Sees Itself Becoming Cash-Flow Positive || The Crypto Daily – Movers and Shakers – October 10th, 2020: Bitcoin, BTC to USD, rose by 1.17% on Friday. Following on from a 2.39% rally on Thursday, Bitcoin ended the day at $11,071.0 It was another bearish start to the day. Bitcoin fell to a mid-morning intraday low $10,853.1 before making a move. Steering clear of the first major support level at $10,666, Bitcoin rallied to a late morning intraday high $11,134.0. Bitcoin broke through the first major resistance level at $11,096 to visit $11,100 levels before easing back. It was Bitcoin’s first close out at $11,000 levels since 20 th September. The near-term bullish trend remained intact, in spite of the recent pullback to sub-$11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Friday. Cardano’s ADA (+5.05%) and Chainlink (+8.89%) led the way. Binance Coin (+2.31%), Ethereum (4.04%), and Polkadot (+2.39%) weren’t far behind. Bitcoin Cash ABC (+1.47%), Bitcoin Cash SV (+1.79%), Crypto.com Coin (+0.86%), Litecoin (+1.23%), and Ripple’s XRP (+0.68%) trailed the pack, however. In the current week, the crypto total market slid to a Wednesday low $322.55bn before rising to a Friday high $346.22bn. At the time of writing, the total market cap stood at $344.02bn. Bitcoin’s dominance fell to a Monday low 59.15% before rising to a Tuesday high 61.29%. At the time of writing, Bitcoin’s dominance stood at 59.62%. This Morning At the time of writing, Bitcoin was up by 0.22% to $11,095.8. A bullish start to the day saw Bitcoin rise from an early morning low $11,071.0 to a high $11,111.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Crypto.com Coin was down by 0.26% to buck the trend early in the day. It was a bullish start for the rest of the majors, however. At the time of writing, Cardano’s ADA was up by 2.29% to lead the way. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $11,019 to bring the first major resistance level at $11,186 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $11,134.0. Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,300. Failure to avoid a fall through the $11,019 pivot would bring the first major support level at $10,905 into play. Barring an extended crypto sell-off, however, Bitcoin should continue to steer clear of sub-$10,800 levels. The second major support level sits at $10,739. This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Needs to Hold 28040 to Sustain Momentum Crude Oil Weekly Price Forecast – Crude Oil Markets Have Strong Week European Equities: A Week in Review – 09/10/20 S&P 500 Weekly Price Forecast – Continue to Rally Based Upon Stimulus E-mini S&P 500 Index (ES) Futures Technical Analysis – Needs to Hold 3431.75 to Sustain Upside Momentum The Weekly Wrap – Trump and U.S Politics Drove Demand for Riskier Assets || US Alleges Top Russian Cyber Hackers Tried to Cover Digital Tracks With Bitcoin: Russia’s most notorious state cyberhackers usedbitcointo cover their ties to critical hacking campaign “infrastructure” such as servers and domain names, according to an indictment unsealed Monday by U.S. prosecutors.
• Six members of Russia’s state-run hacking teams who allegedly targeted “thousands” of victims across companies, political campaigns, governments and the 2018 Winter Olympics through Russian Military Unit 7445 are named in thesuit.
• Prosecutors also allege they were responsible for 2017’s catastrophic “NotPetya” malware attack that caused billions of dollars in damage. Security researchers have made such claims before.
• NotPetya was based on the petya bitcoin ransomware exploit but with a malicious twist, prosecutors allege: “Even if victims paid the ransom ($300 worth of bitcoin), the Conspirators would not be able to decrypt and recover the victims’ computer files.”
• US Alleges Top Russian Cyber Hackers Tried to Cover Digital Tracks With Bitcoin
• US Alleges Top Russian Cyber Hackers Tried to Cover Digital Tracks With Bitcoin
• US Alleges Top Russian Cyber Hackers Tried to Cover Digital Tracks With Bitcoin
• US Alleges Top Russian Cyber Hackers Tried to Cover Digital Tracks With Bitcoin || Market Wrap: Bitcoin Regains $10.6K; High-Balance Ether Addresses Decline: Bitcoin is recovering from Tuesday’s drop while there is a decrease in large-balance ether addresses.
• Bitcoin(BTC) trading around $10,651 as of 20:00 UTC (4 p.m. ET). Gaining 0.66% over the previous 24 hours.
• Bitcoin’s 24-hour range: $10,524-$10,683
• BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians.
Bitcoin’s price is making gains Wednesday, recovering from a spate of selling Tuesday that coincided with U.S. President Donald Trump’s tweet calling off stimulus negotiations with lawmakers. Bitcoin was able to hit $10,650 on spot exchange such as Coinbase before settling to $10,651, as of press time.
Read More:Analysts Can’t Agree on What Prompted Big Spike in New Bitcoin Addresses
Related:First Mover: Bitcoin 'Comatose' Under $16K for Rest of 2020, While Ether Traffic Eases
In its weekly investor note, quantitative trading firm QCP Capital indicated bitcoin’s ability to stay above $10,000 in the face of a less-than-optimistic news cycle is promising. “We’d need to see a break below the key $10,000 level to have any downside follow-through,” QCP stated. “We are likely just treading water and building momentum until after the elections, when we think the coast will then be clear for a new bull trend to develop.” Since early September bitcoin has remained in the $10,000-$11,000 price range.
“The crypto markets are still very highly correlated to traditional markets and the broader economy as a whole,” said Michael Rabkin, head of institutional sales for cryptocurrency market maker DV Chain. “We believe that any time markets tick up or tick down this is exaggerated in crypto. The correlation is still very high.” Bitcoin may be operating in tandem with traditional markets as of late, but its returns over the past month have been beating global stock indexes.
In the options market, traders have over 36,000 BTC in open interest set to expire by Oct. 30.
Based on the probability of those options, bitcoin has a 68% chance of closing out the month over $10,000, a 53% chance of being over $10,500 and just a 37% chance to hit $11,000.
Related:Bitcoin Options Volume on CME Jumps 300% as Traders Take Bullish Bets
DV Chain’s Rabkin noted that as more sophisticated investors jump into crypto, it may ebb and flow with the traditional market more than ever before. “As bitcoin is becoming a new asset class for institutional market participants, its sensitivity to macro events will rise over time.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was flat Wednesday, trading around $341 and in the red 0.03% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Amid US-China Tech War, Can Neo’s DeFi Stack Rival Ethereum’s?
The number of Ethereum addresses with a balance greater than or equal 1,000 ETH is at a three-year low. It dropped 7,162 addresses Sept. 27, the lowest since Oct. 17, 2017. As of Tuesday, Ethereum addresses with a balance greater than or equal 1,000 ETH was at 7,220 addresses.
It’s important to note this data from Glassnode don’t include smart contracts, which may help explain why the number of addresses has dropped in 2020. George Clayton, a managing partner of investment firm Cryptanalysis Capital, says many large ether holders are likely moving some of the crypto into smart contract-based DeFi protocols for additional profit opportunities.
“Ethereum believers ought to be DeFi believers as well,” said Clayton. “With billions flowing into DeFi, major ETH holders might be getting in on the action by participating in automated market making pools or staking ERC-20 tokens, thereby reducing ETH balances.”
Digital assets on theCoinDesk 20are mixed Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• monero(XMR) + 5.7%
• bitcoin sv(BSV) + 3.1%
• tezos(XTZ) + 2.1%
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• eos(EOS) – 1%
• ethereum classic(ETC) – 1%
• tron(TRX) – 0.21%
Read More:BitMEX Says It’s ‘Business as Usual’ Despite 30% Drop in Bitcoin Balances
Equities:
• Asia’s Nikkei 225 closed flat, in the red 0.05% asinvestor sentiment was mixed on U.S. President Donald Trump’s decision to halt economic stimulus talks.
• The FTSE 100 ended the day flat, in the red 0.06% asTrump sent disparate signals on stimulus and possible airline bailouts.
• In the United States the S&P 500 jumped 1.7% asinvestors were optimistic some form of stimulus package would be completed prior to the November presidential election.
Commodities:
• Oil was up 0.47%. Price per barrel of West Texas Intermediate crude: $39.96.
• Gold was in the green 0.46% and at $1,886 as of press time.
Treasurys:
• U.S. Treasury bond yields climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 10-year, gaining to 0.785 and in the green 7.2%.
• Market Wrap: Bitcoin Regains $10.6K; High-Balance Ether Addresses Decline
• Market Wrap: Bitcoin Regains $10.6K; High-Balance Ether Addresses Decline || Market Wrap: PayPal Powers Bitcoin Past $12.8K as Ether Dominance Drops: Bitcoin blows past its previous 2020 high while ether’s crypto market share dips from its 2020 high in September. Bitcoin (BTC) trading around $12,709 as of 20:00 UTC (4 p.m. ET). Gaining 6.4% over the previous 24 hours. Bitcoin’s 24-hour range: $11,863-$12,916 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price has been on a tear this week, rising for the third straight day and hitting as high as $12,916 on spot exchange Bitstamp on Wednesday. The recent development from payments firm PayPal confirming it will incorporate crypto for its users and merchants helped sparked the record 2020 high for the world’s oldest cryptocurrency, at $12,709 as of press time. Read More: PayPal Pledges to Bring Crypto to 26M Merchants, Confirming Market Entry Related: First Mover: The FOMO Takes Over as PayPal Play Sparks Bitcoin Rally to $13K “PayPal dropped the most important piece of news for large retail adoption this year, full support for bitcoin,” noted Henrik Kugelberg, an over-the-counter crypto trader based in Sweden. PayPal’s stock price (NASDAQ: PYPL) is also hitting record highs in 2020 and is up 92% this year so far. The potential for bitcoin to be inserted further into consumer finance is what is helping its bull run, noted Zac Prince, CEO of crypto lender BlockFi. “This coalescing of fintech and bitcoin is yet another bullish development for investors,” he said. “It’s going to be an exciting 12 months ahead as bitcoin continues to expand further into consumer finance.” It is not just the PayPal news helping bitcoin trend higher, noted Micah Erstling, a trader at GSR. “It’s promising to see bitcoin holding above the $12,000 mark with continued institutional interest and wider regulated adoption taking place,” Erstling told CoinDesk. Federal Reserve Chair Jerome Powell’s speech on central bank digital currencies (CBDC) “clearly demonstrates that digital assets are being taken seriously, while Square and PayPal headlines are fueling a better digital ecosystem via payments and treasury.” Story continues The last time bitcoin hit this price level was back on July 10, 2019. The overall excitement has led to volume on major USD/BTC spot exchanges Wednesday that were much higher than normal, at $1,165,166,691 as of press time. In fact, the last time volume was so high was back on Sept. 4, when daily volume was $1,089,417,516. Related: Forget Ethereum, DeFi Is Being Built on Bitcoin Several market analysts see bitcoin heading much higher before 2020 is over, including Katie Stockton, a technical analyst for Fairlead Strategies. “ The breakout in July put the next major resistance on the chart at the 2019 high, aligned with a long-term Fibonacci retracement level near $14,000, she said. “We think a test of this level is likely in the months ahead.” Constantin Kogan, a partner at cryptocurrency fund-of-funds BitBull Capital, echoed that sentiment. “Bitcoin has a good chance of reaching its $14,000 resistance mark for about a two-times gain this year as the market hasn’t fully absorbed all the positive news.” As for derivatives, bitcoin open interest on CME, a venue for sophisticated investors that is often used to hedge risks, has been on an uptrend, noted William Purdy, a derivatives trader and founder of analysis firm PurdyAlerts. “Futures open interest rising as price rising is a bullish trend that suggests the trend will likely to continue as fresh money is seen entering the market,” said Purdy. “CME volume surging shows strong institutional interest.” Read More: Kik, SEC Propose $5M Settlement Over $100M ICO, Ending Yearlong Battle However, quant trader QCP Capital highlighted some 2020 uncertainty still ahead in its investor note Wednesday. “We look to the U.S. elections as a medium-term risk still. With all the regulatory reminders we’ve already had this month, anything emanating from that department around election time would be a major cause for concern.” Ether dominance slips Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Wednesday trading around $391 and climbing 6.2% in 24 hours as of 20:00 UTC (4:00 p.m. ET). After hitting a 2020 high of 14% on Sept. 1, ether’s share of the cryptocurrency market cap has declined. A measure of an asset versus the larger crypto market capitalization, “dominance” is a metric traders watch to gauge sentiment. As of press time, the number was at 11.7% Wednesday. Despite the drop, George Clayton, managing partner at investment firm Cryptanalysis Capital, doesn’t put too much stock in ether’s dominance decline and remains ebullient on decentralized finance, or DeFi, deployed on the Ethereum network. “DeFi has Ethereum going gangbusters – lots of utility going on,” he said “I cannot be bearish ETH.” Other markets Digital assets on the CoinDesk 20 are all green Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): litecoin (LTC) + 12.2% chainlink (LINK) + 9% bitcoin cash (BCH) + 7.5% Read More: Litecoin Surges After PayPal Includes It Among the Cryptos Customers Can Buy, Sell, Hold Equities: The Nikkei 225 in Asia ended the day in the green 0.31%, led higher by gains in consumer holding company Takara Holdings, up 7.6% . Europe’s FTSE 100 closed in the red 1.9% as a stronger British pound, which hurts multinational companies, weighed on sentiment . In the United States the S&P 500 was flat, up 0.10% as investors signaled their uncertainty amid the ongoing coronavirus-related stimulus talks by U.S. lawmakers and the Trump administration . Commodities: Oil was down 2.6%. Price per barrel of West Texas Intermediate crude: $40.03. Gold was in the green 0.86% and at $1,924 as of press time. Treasurys: U.S. Treasury bond yields were mixed Wednesday. Yields, which move in the opposite direction as price, were up most on the 10-year, jumping to 0.811 and in the green 2.5%. Related Stories Market Wrap: PayPal Powers Bitcoin Past $12.8K as Ether Dominance Drops Market Wrap: PayPal Powers Bitcoin Past $12.8K as Ether Dominance Drops
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-05-24]
BTC Price: 7587.34, BTC RSI: 34.34
Gold Price: 1303.70, Gold RSI: 46.79
Oil Price: 70.71, Oil RSI: 56.01
[Random Sample of News (last 60 days)]
Bitcoin Price Will Top $11,500 Soon, Says Crypto Bull who Predicted Recent Crash And Rally: Bill Baruch, a cryptocurrency bull who foresaw both bitcoin’s recent slump and ensuing rally, has set a near-term bitcoin price target of $11,500 to $11,800.
Baruch, the president of Blue Line Futures, has a pretty good track record for bitcoin price predictions. In February 2018, when BTC plunged to $7,200 during the market correction, Baruch confidently forecast that bitcoin would return to $10,000.
And that’s exactly what happened. In March 2018, bitcoin’s price cleared a high of $12,971, and averaged about $10,500.
Looking ahead, Baruch is confident that cryptocurrency prices will continue to rally now that Tax Day in the United States has passed.
“After fighting regulation headwinds and tax selling, the path of least resistance is higher, and I believe the sector still has much more upside in the long run,” Baruch said onCNBC. “The ultimate upside is $11,500 to $11,800.”
Baruch also noted that participation in the recent crypto rally has been broad-based, with several alt-coins also gaining in value. This is considered a bullish catalyst for the entire virtual currency market, he said.
Bill Baruch isn’t the only crypto bull who’s optimistic about the future of digital currencies. Fundstrat co-founder Tom Lee was the first toforecast a post-Tax Day rally, as CCN has reported.
“Selling pressure for bitcoin should be alleviated after April 15th,” Lee predicted on April 5. And that’s what has happened. Bitcoin prices surged above $9,300 this week, with no signs of letting up.
Tech billionaire Tim Draper is equally bullish, and has set a$250,000 bitcoin price targetfor 2022, as CCN has reported.
“I’m thinking $250,000 a bitcoin by 2022,” he predicted. “Believe it. It’s happening and it’s going to be awesome!”
Draper also projects that cryptocurrency will take over the world within a few years because it’s a phenomenon that’s bigger than any technology that has preceded it.
“This is bigger than the internet!” Draper gushed, as reported byCNBC(see video). “It’s bigger than the Iron Age and the Renaissance. It’s bigger than the Industrial Revolution! This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”
Like other bitcoin bulls, Draper has a pretty good track record for bitcoin price predictions. In 2015, the venture capitalist accurately predicted that bitcoin would top $10,000 by the end of 2017. BTC prices soared above $13,000 on December 31, 2017.
In 2014, Draper purchased 30,000 bitcoins for $600 apiece (total price paid: $18.5 million) at an auction by the U.S. Marshals Service, a law-enforcement arm of the Department of Justice. The Justice Department frequently auctions off property seized during criminal raids.
At today’s bitcoin price of roughly $9,300 a token, Tim Draper’s bitcoin stash is now worth a stunning $279 million. As of December 2017, Draper said he was still HODL’ing that BTC stockpile. That’s not a bad return on a passive four-year investment.
Featured image from Shutterstock.
The postBitcoin Price Will Top $11,500 Soon, Says Crypto Bull who Predicted Recent Crash And Rallyappeared first onCCN. || Why Tesla Is Now Worth Less Than General Motors: Investors in Tesla (NASDAQ: TSLA) were jubilant when the upstart Silicon Valley automaker's market cap passed General Motors ' (NYSE: GM) for the first time last spring. It felt to many like a profoundly important moment: Suddenly, Tesla was America's most valuable automaker, almost as if GM had passed the torch. But now, GM has grabbed it back. At just under $51 billion as of Thursday's close, GM's market cap was almost $6 billion higher than Tesla's. Why does the market now think that Tesla is worth less than GM? A red Tesla Model 3, a compact luxury spots sedan. Tesla's Model 3 was supposed to transform the company into a major global automaker. But manufacturing problems are writing a very different chapter in Tesla's story. image source: Tesla, Inc. This is really about Tesla's valuation, not GM's I should be clear about something up front: This has never ever been about the companies' relative fundamentals. GM sold 9.6 million vehicles around the world last year, earning $12.8 billion on an adjusted pre-tax basis, while Tesla delivered 103,097 vehicles and lost $2.2 billion before taxes. It's not really about GM at all. It's about Tesla's valuation, and Tesla's valuation has always been all about its story. Tesla has had one of the all-time great corporate stories, inventing super-cool technology with near-limitless growth potential. That story has powered it to a valuation far beyond anything that is even remotely justified by its fundamentals. Of course, the thing about story stocks is that when the story changes, the stock price can change quickly as well. And in the last couple of weeks, Tesla's story has started to show some cracks -- at least one of which could turn out to be a huge fissure. Tesla's story has come under pressure March was a rough month for many stocks, including GM. But it was rougher for Tesla than most: The company's share price, and its market cap, dropped over 20%. TSLA Market Cap Chart TSLA Market Cap data by YCharts . Story continues What happened? Tesla's story came under pressure. Tesla's Model 3 is supposed to be the car that will transform Tesla from a boutique maker of high-end electric vehicles for tech enthusiasts to a genuine mass-market automaker, one that builds cars by the millions year after year. To get there, Tesla said it would create a super-automated production line faster and more efficient than any automaker had ever attempted. Musk compared the sophistication of this future Model 3 factory to a giant starship (an "alien dreadnought"), saying that the production line's robots would move so quickly that air resistance would have to be taken into consideration in their design. A photo showing robotic assembly machines behind a glass wall with the Tesla logo, and the caption "Model 3 Layered Assembly Line". Tesla included this photo of the Model 3's automated two-level assembly line in its fourth-quarter 2017 shareholder letter. Image source: Tesla, Inc. As late as the second quarter of 2017, Tesla was still confidently predicting that it would be producing 5,000 Model 3s a week by the end of the year, and would hit 10,000 per week at some point in 2018 -- a production rate seen only at a few of the world's busiest auto factories. But as Tesla began to ramp up Model 3 production, it hit a series of snags. It walked back its production guidance, saying in its fourth-quarter shareholder letter that it expected a production rate of 2,500 per week by the end of the first quarter, and 5,000 per week by the end of the second quarter. As of right now at least, it looks as if Tesla fell well short of even that walked-back guidance. Bloomberg estimates that the Model 3 production rate was just shy of 1100 per week as of the end of March. Even if it turns out that Tesla worked around the clock to break 2,000 in the very last week of the quarter, it has been apparent that its output of Model 3s wasn't anywhere near its guidance for most of the first quarter. That's a problem. But it's not the only problem. There's a deeper crack appearing in Tesla's story If Tesla was just running behind its predicted ramp-up schedule, that would be one thing. But there's another issue: The Model 3s that have been coming out of Tesla's California factory have been plagued with problems. Issues like visibly misaligned body panels and trim pieces, glass that is prone to cracking, and mysterious squeaks and rattles, among others, seem to be common. As I said over a year ago , consistent quality problems in early Model 3s could put a big dent in consumer demand for the vehicle. There are some signs that that may be starting to happen. But Tesla may have an even bigger problem right now. Influential auto analyst Max Warburton, of the investment firm Sanford C. Bernstein, worked for an organization that benchmarked auto-plant efficiency before becoming an analyst, and thus has a deep understanding of how cars are made. Warburton said in a note that these defects may be much more than teething troubles with a brand-new assembly line They may be a sign of a flaw in Tesla's entire approach to building the Model 3, specifically its attempt to automate final assembly. Tesla's approach to automation rings alarm bells. If we look at the history of the auto industry, we can see that attempts to automate final assembly haven't worked. Many [automakers] have tried it in the past -- such as Fiat, VW and GM. They have all failed, often spectacularly . [Emphasis added.] The key problem, as Warburton explains, is that robots don't recognize their own mistakes. The automated assembly line will power on, building car after car with a misaligned panel or a spot weld in the wrong location -- until the errors start to show up as problems in finished vehicles. In final assembly, robots can apply torque consistently -- but they don't detect and account for threads that aren't straight, bolts that don't quite fit, fasteners that don't align or seals that have a defect. Humans are really good at this. Have you wondered why Teslas have wind noise problems, squeaks and rattles and bits of trim that fall off? Now you have your answer. Most automakers automate parts of their vehicle assembly plants. The processes of stamping sheet metal, painting, and spot-welding are amenable to automation -- and in most modern auto factories, those things are largely automated. But in those same plants, including plants that build the highest-quality mass-produced vehicles in the world, final assembly is done by humans. That's not science-fiction cool, but it's what works. The upshot: Tesla may have a big problem of its own making If Warburton is correct, Tesla has a big problem. It has spent a fortune to build the Model 3's super-automated assembly line at its Fremont factory, roughly double what a mainstream automaker would have spent to scale up to produce 5,000 vehicles a week. If that line can't be made to work,Tesla will have to tear it out and start over -- if it can find the time, the money, and the humility to do so. It's possible that the time and money can be found, although the stock price will likely take a big hit if Model 3 production is set back by months. Finding the humility may be a larger challenge. I know that sounds like a snarky joke, but consider: What happens to Tesla's story if the idea of a transformative manufacturing breakthrough has to be thrown out? What happens to Tesla's story if the only way to fix the Model 3's production line is to tear it out and replace it with a process to build the Model 3 the same way the "legacy" automakers would? If Tesla becomes just another automaker, what kind of valuation will it deserve? The answer may turn out to be "one like GM's." If so, look out below. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of General Motors. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy . || Coinbase to Let Users Withdraw Funds from Bitcoin Forks: Cryptocurrency startup Coinbase said Thursday that, in the coming months, it will let customers withdraw funds resulting from forks of the bitcoin network. In a blog post , the startup announced that it was adding withdrawal support for the forks, though the post did not announce a firm timeline. "This change will allow customers to more easily withdraw assets associated with Bitcoin Forks across all Coinbase Products," the startup wrote, adding: A Q2 Price Boost? History Is On Bitcoin's Side "As always, we look at technical, operational, and legal considerations when deciding which Bitcoin Fork assets to support and will always state on our website which particular assets are supported." That being said, Coinbase noted it was "not announcing support for any specific assets at this time." In the announcement, Coinbase explained that it will work to support future bitcoin forks on its Coinbase Custody product, adding that this platform "will likely support more forked assets than GDAX or Coinbase for the foreseeable future." GDAX, its digital assets exchange, will allow customers to withdraw bitcoin forks, but not trade them. Similarly, Coinbase's basic platform will also allow customers to withdraw the forked assets but without enabling trades. Further, the startup noted that an asset may be added to GDAX in the future without being added to Coinbase. Trapped Below $7K: Is Bitcoin Prepping for a Big Breakout? Coinbase Commerce, a merchant-focused service it unveiled in February, will not support any forked assets, and the Coinbase Index Fund will not list any assets that are not available on GDAX for trading, according to the statement. In a separate announcement on Thursday, the startup unveiled a new early-stage venture fund that will provide financing to companies working with the technology. "At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish," Coinbase said. Story continues Coin miniatures image via Shutterstock Related Stories Bank of America: Bitcoin Bubble Is Already Popping Rangebound: Bitcoin Bulls Need Break Above $7.5K || Buffett Gets Even Greedier With Teva Pharmaceuticals. Time to Buy?: Warren Buffett's famous for telling investors to be greedy when others are fearful, but buyingTeva Pharmaceuticals Industries(NYSE: TEVA)last year seemed like searching for loose change in a burning building. Generic drug prices began collapsing just after the company borrowed heavily to become the world's largest generic drug producer, and that was just one disasterof manythat forced the company to slash its dividend last year.
We know that Buffett loves a good turnaround story, and it looks likeBerkshire Hathaway(NYSE: BRK-A)(NYSE: BRK-B)doubled down on its bet that Teva will be the next big one. The holding company shocked us a few months back by disclosing a sizable stake in the troubled drugmaker, and the latest round of filings shows that the stake doubled during the first quarter, to around $693 million at recent prices.
Image source: The Motley Fool.
Should you follow America's favorite investor? To answer that, let's look at reasons to suspect this troubled company can turn itself around.
Generic competition for Teva's popular multiple sclerosis injection Copaxone tore a mighty chunk out of the company's top line, but there are reasons to suspect the worst is over. During the first quarter, generic competition pushed North American sales of Copaxone down 40%, to just $476 million. The abrupt drop isn't quite so terrifying when you consider Teva leaned on Copaxone for just 13% of its overall revenue stream in the first quarter, down from 19% in 2016.
Teva slashed Copaxone's net price to compete with entering generics, and the strategy appears to be working. The popular 40 mg dosage of Copaxone maintained an 85% share in the important U.S. segment. This is encouraging when you consider Teva has a lot more experience on the other side of these negotiations.
An ongoing plan the company started last fall to reduce staff by 25% isn't doing wonders for Teva's public image, but it's helped keep its bottom line in positive territory. In fact, Teva raised itsfree cash flowoutlook range by $400 million for the full year to between $3.0 billion and $3.2 billion.
You can define free cash flow as income from operations minus capital investments necessary to keep those operations humming along. Teva investors can think of FCF as cash available to pay down a colossal collection of long-term debts that formed a $29.5 billion eyesore on the company's balance sheet when it reported last.
At the end of March, the company was less than halfway into its massive 14,000 employee layoff, which could allow operating expenses to fall in tandem with generic drug prices until they finally hit a bottom. Investors will want to keep a close eye on margins in the quarters ahead, but it looks like they're staying positive.
Image source: Getty Images.
The bottom may have dropped out of North American generic drug prices, but Teva's European generic drug operations recorded a 2% year-to-year gain in local currency. It seems generic drug prices are near a bottom in Europe, but operations in the region still are turning a strong profit. In fact, Teva's European segment reported a $377 million profit during the first quarter that was 40% higher than during the previous-year period.
Warren Buffett likes to buy companies with strong advantages over their competitors in industries likely to enjoy steadily rising demand. The number of Americans over the age of 80 is expected to double in the next decade, and this group spends around four times the national average on healthcare. Generic drugs are a big part of that spending, and Teva boasted of a 15% share of total U.S. generic prescription volumes. That's larger than any single competitor, and economies of scale could help the company remain profitable in this high-volume, low-margin industry.
An unstoppable demographic shift and economies of scale might not provide breathtaking growth -- or any growth, for that matter. At this stock's beaten-down price, though, investors could come out ahead if profits remain flat into perpetuity.
At the midpoint of its guidance range, Teva shares trade at just 6.9 times this year's expected free cash flow. In other words, for every dollar you put in right now, the company's going to generate around $0.15 cents this year, which will probably be used to pay down debt. If profits simply hold steady, within a few years, patient investors who bought the stock at recent prices could find themselves collecting a juicy dividend.
Of course, there still is a chance that generic drug prices will continue plummeting, and even the industry's largest player won't be able to turn a profit. That's a hard pill to swallow and a risk worth taking.
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Cory Renauerhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool has adisclosure policy. || 5 Shining Silver Stocks to Buy Today: When it comes to precious metals, gold captures most of the spotlight. However, silver could be the real money metal in our current market. That’s because silver has the best of both worlds.
On one hand, silver is seen as a precious metal. While not as glittery as its yellow sister, the “poor man’s gold” does tend to hold up its value during times of duress and can be seen as a store of value. That makes it a prime holding and portfolio diversifier — especially in a volatile market like today’s.
Secondly, it’s also an industrial metal. Silver finds its way in all sorts of end products. This includes various electronic components, photovoltaic/solar panels and even medicine. This creates additional demand for the metal.
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For the miners of silver, the combination of the metal’s two sides creates plenty of potential — even more so now that silver prices have begun to rise. For investors, the time to add a dose of silver stocks is now.
Source:Brian Shamblen via Flickr
When it comes to silver stocks, some of the best opportunities lie within the mid-tier producers. These miners feature plenty of growing production and low all-in sustaining cash costs, and they serve as a vital source of supply for the larger miners during buyout situations. These three factors underscoreEndeavour Silver Corp’s(NYSE:EXK) potential.
The key for EKX comes from its operating area. The silver stock owns three high-grade mines located in three of Mexico’s historic mining districts. This provides it with plenty of already-in-place infrastructure and a miner-friendly government. An added bonus is that many of these mines also feature gold and gold by-products. As a result, EXK has a relatively low cost of production. And the silver stock continues toreduce those costs further— falling 22% last year.
With production steadily growing, costs falling and silver prices beginning to rise on the back of industrial growth, EKX has seen its revenues and profits jump year-over-year. That should continue throughout 2018 as the trends persist.
All in all, Endeavour could be one best mid-tier silver stocks to buy.
Source:mactavish39 via Flickr (Modified)
Truth be told, there’s a lot risk when it comes to mining. And various mining risk can hinder a stock’s performance even if silver prices are surging. That’s whyWheaton Precious Metals Corp(NYSE:SLW) could be a great pick.
SLW — formally-known as Silver Wheaton — is a royalty firm. That is, the firm doesn’t actually operate mines. What it does is provide capital to other miners in exchange for a piece of the action. As these other miners take on the risk, do the heavy lifting and sell their production, SLW just sits back and collects a check — and it collectsmanychecks. Wheaton currently has streaming agreements for 17 operating mines and nine development-stage projects.
And as prices for silver or gold start to rise, SLW makes more money. As a result, the firm is more of a direct play on rising precious metal prices than an actual miner.
As a royalty firm, SLW has been one of the better performers among silver stocks. Performance so good, that Wheaton actuallypays a steady dividend.
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For investors looking to profit directly from rising silver prices, SLW has to be on your list.
Source:Sprott Money via Flickr
Hecla Mining Company(NYSE:HL) hasn’t exactly had a great year or two. That’s because one of HL’s key mines in Idaho hasn’t produced an ounce in more than a year. A labor strike has shut down productionfor over a yearnow. That’s a problem as the Lucky Friday mine produced more than 294,000 tons of ore in 2016.
Naturally, HL has seen lower profits and revenues — and a crashing share price — because of this.
However, that could make HL a bargain for investors. For one thing, Hecla’s other mines are still humming along and the firm has been investing in automation and extending the reserve life of its other mines. Meanwhile, it features some of the largest reverses in the sector.
It’s a risky gamble for investors, but there is some value here — value that a larger miner just may want to take advantage off. And if labor negations finally break at Lucky Friday, HL shares should surge on the news. It’s not a stock to bet the mortgage money on, but for some risk capital, you can’t go wrong with the risk-reward proposition at this silver stock.
Source:Eric Golub via Flickr
If Hecla is a risky play, thenPan American Silver Corp. (USA)(NYSE:PAAS) is more of a sure thing. PAAS is the world’s second-largest primary silver producer.
The firm operates six mines as well as has six development projects under its umbrella. This provides it with plenty of reserves, economies of scale and real cash flows. Something that many silver stocks don’t have the luxury of having. In fact, things are so good at PAAS, it has more than$224 million in cash on its balance sheet and no debt.
This has allowed it to realize some of the lowest all-in costs in the sector and continually drive profits. Thanks to rising silver prices, Pan American saw a 68% jump in its earnings for the first quarter of 2018 over the same period in 2017. As the trends in silver pricing and industrial demand continue to grow, PAAS should realize additional jumps throughout the year. The firm recently guided higher for its EPS expectations for the full year.
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While those expectations pan out, investors can sit back and collect the firm’s 0.75% dividend. It’s not much, but it highlights just how good PAAS is in the sector.
Source:Warper via Flickr
Another interesting choice could beGreat Panther Silver(NYSEAMERICAN:GPL). The mid-tier silver firm operates three mines in Mexico and has been pretty successful in converting opportunities at those mines into cash flows.
Thanks to rising silver prices, GPL’s latest quarter was pretty impressive andsaw a 38% jumpin total revenues. That resulted in some decent cash flows and Great Panther was able to improve its cash balance to more than $60 million. Even better is that GPL has no debt.
The only downside was that the firm’s all-in cash costs did rise this quarter. However, the $8.97 per payable silver ounce GPL recorded is still one of the lowest among the silver miners. There’s still plenty of wiggle room for the firm to make additional profits. And the absences of debt provides it plenty of opportunities if prices were to fall.
At under $2 per share, investors aren’t really appreciating the potential at Great Panther. As silver prices rise, so will they. Don’t let the bargain slip away.
As of this writing, Aaron Levitt did not hold a position in any of the aforementioned securities.
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The post5 Shining Silver Stocks to Buy Todayappeared first onInvestorPlace. || Will Target Outshine Walmart This Week?: Investors have some big questions heading intoTarget's(NYSE: TGT)first-quarter earnings report on Wednesday, May 23. On the bright side, the retailer has had mostly good news to report on the operating front lately. Case in point: It beat management's upgraded sales growth guidance in the holiday quarter.
However, that expansion pace likely slowed at the start of 2018, as it has for other major retailers that have reported earnings recently, includingWalmart(NYSE: WMT)andHome Depot. Furthermore, executives have warned that this fiscal year will show another decline in profitability as Target shifts toward a more digitally focused business.
With that bigger picture in mind, let's take a look at what investors can expect from Target's upcoming quarterly announcement.
Image source: Getty Images.
Target's holiday quarter marked a dramatic turnaround from the year-ago period, as comparable-store salessped up to a 4% increase, compared to a 3% slump at the end of 2016. That result put the company solidly ahead of Walmart, which expanded comps by 2.6% over the holidays. Target benefited from a 3% surge in customer traffic that lifted its full-year results into positive territory and reversed a painful decline in the prior year.
Growth might be harder to come by in the first quarter. Walmart recently announced that its comps decelerated to a 2.1% pace as customer traffic gains slowed to 0.8% from 1.6% in the prior quarter. Home Depot saw a much more pronounced swing, withshopper traffic turning negativedue to a delayed start of the spring selling period. Target's business isn't as seasonal as Home Depot's, but the retailer still likely had a sluggish start to the year. But the key question will be whether the latest trends will shift management from its initial 2018 target of between 1% and 3% comps gains.
Target is saving money right now by making its network of stores double as online fulfillment centers. But the digital sales channel is still soaking up resources, and that challenge is being compounded by the need for aggressive price cuts aimed at keeping sales growth humming along in the stores.
CEO Brian Cornell and his team have warned investors to expect operating earnings to decline again in 2018, but at a slower pace than last year's 8% slump. This will be a "transition year," they said in arecent conference call, as the company spends heavily on initiatives like store remodels, increased wages, and fulfillment upgrades aimed at speeding delivery from its physical locations.
Walmart's profitability dipped slightly during the period, with operating income falling 3% to $3.9 billion. If Target sees a similarly modest drop, it should be considered a win for the business, given the tough selling environment.
WMT Operating Margin (TTM)data byYCharts.
Executives believe Target's shift toward a multichannel selling approach will hurt the business in the short term but yield positive results over time. The move will result in "somewhat lower operating margins than we've seen historically," Cornell explained in early March. In exchange, the retailer expects to generate healthy cash flow and higher returns on invested capital.
Target's profit performance this week, and management's updated earnings forecast, should tell investors a lot about just how far profitability might decline before it stabilizes in 2019 before beginning a rebound.
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Demitrios Kalogeropoulosowns shares of Home Depot. The Motley Fool has the following options: short May 2018 $175 calls on Home Depot and long January 2020 $110 calls on Home Depot. The Motley Fool recommends Home Depot. The Motley Fool has adisclosure policy. || In Your 40s? 3 Stocks You Should Consider Buying: If you're anything like me, when you hit your 40s, you began to worry about financial stressors like your kids' college accounts, saving for family vacations, and a 30-year mortgage that was still closer to the beginning than the end. Of course, looming over all of these responsibilities was a retirement that suddenly seemed a little more real than it ever had before.
In your 40s, you're too old to be wildly speculative with all of your investments, but still too young to not need a portfolio filled with stocks that will fuel your returns with solid growth. With that in mind, here are three companies that play on larger trends and seem poised to grow their top and bottom lines for years to come. While these stocks'dividend yieldsmight not be that high now, these companies have the potential to keep hiking their payouts at decent clips in the years ahead.
Let's take a closer look atCorning Incorporated(NYSE: GLW),Mastercard Inc.(NYSE: MA), andSkyworks Solutions Inc.(NASDAQ: SWKS)so I can explain why I personally own all three and why, if you're also in your 40s, you might want to consider them for your own portfolio.
In your 40s, it's important to buy stocks that will fuel your portfolio's growth but come at a reasonable price. Image source: Getty Images.
Shares in Corning immediately took a dive when the company reported its 2017 fourth-quarterresultsand are currently down more than 20% from their 52-week high. The dip might actually make this theperfect timeto initiate a position in Corning.
Corning operates five divisions, thelargestof which, by earnings, is its display technologies segment. This division makes a special glass substrate necessary for the manufacturing of the LCD (liquid crystal display) screens built into many products such as large-screen televisions and computer monitors. Sales in this division have long been pressured by declining glass prices and are also affected by factors such as the exchange rate of the yen. In the company's fourth quarter, earnings in this segment declined to $221 million, a 20% decrease year over year. This segment still makes up almost half of Corning's total earnings, however, so the slowdown is a large concern. Management insists, though, the decline in glass prices is finally beginning to moderate.
But focusing solely on Corning's display technologies misses the growth and long-term catalysts present in Corning's next two largest divisions: the optical communications and specialty materials divisions. The optical communications segment supplies optical fiber, the backbone of internet and wireless networks, and connectivity solutions to internet service providers and large telecoms. In 2017, Corning scored huge contracts withVerizon Communicationsand Saudi Telecom, and announced it had now supplied1 billion kilometers of optical fiber, or about "one-third of the optical fiber ever produced in the history of the world." The company stated this mass scale made it the lowest-cost producer of optical fiber in the world, which makes for a pretty impressiveeconomic moat.
The specialty materials division manufacturesGorilla Glass, the tough, flexible, and scratch-resistant glass that undoubtedly covers your smartphone and smartwatch. Sales in this division increased 17% while core earnings rose 12% year over year in the fourth quarter.
Based on Corning's full-year core EPS of $1.72, shares sell at aprice-to-earnings ratioof just 15.4. After the company reported its fourth-quarter earnings, it raised the dividend by 16%, giving the stock a dividend yield of about 2.7% and a payout ratio of 42%. The company has publicly stated it will raise the dividend by a double-digit percentage again next year.
During its annual investor day late last year, Mastercard estimated that just a little over 80% of the world's transactions were still facilitated using cash. This gives companies that stand to benefit from the digitization of money, such as Mastercard, a long runway of growth ahead. Severalcatalystsare currently accelerating this trend away from cash, including the rise of e-commerce and the lowered cost of card acceptance in emerging economies due to mobile connectivity.
Several favorable macro trends, like the rise of e-commerce and card acceptance in emerging economies, should provide tailwinds for Mastercard for years to come. Image source: Getty Images.
Mastercard has also usedsmart acquisitionsto bolster its "other revenues" business segment, which grew revenue by 17% year over year in the company's fourth quarter. This segment is comprised of a variety of security, analytical, and management tools that Mastercard's clients -- primarily card-issuing banks and financial institutions -- are happy to pay for because they generally fall far outside of their core competencies and require constant investment and attention. Mastercard has also credited these services for differentiating itself from the competition and securingnew deals.
In Mastercard'sfourth quarter, these catalysts all manifested themselves in solid top- and bottom-line growth: Net revenue rose to $3.3 billion, a 20% increase year over year, and diluted EPS grew to $1.14, a 33% increase year over year. Based on the company's long-term guidance of 20% EPS annualized growth, the company currently trades at a forward P/E of about 31. While that's not cheap, I believe the price is justified due to the company's proven ability to grow earnings and the presence of several larger macro trends that play to the company's strengths. In 2017, the company hiked its dividend by 14%, giving it a current yield of 0.6%. While Mastercard's payout is admittedly low, it has been consistently growing by double-digit percentages every year and could conceivablydoublein as little as five years.
Skyworks Solutions designs and develops analog semiconductor chips that power the wireless connectivity in devices such as smartphones, wearables, and smart home appliances. What makes Skyworks' shares so compelling is that it stands to benefit from two huge trends: the rollout of5Gand the explosion of theInternet of Things(IoT).
Skyworks CEO Liam Griffin likes to remind investors that 5G wireless network speeds will be up to 100 times faster than 4G networks. This is important to Skyworks investors because the chips Skyworks develops for 5G are more profitable than the chips it supplies for 4G speeds. In the company's fourth-quarter conference call, transcribed byS&P Global Market Intelligence, Griffin said:
In order to make the leap to 5G, system architectures will require significantly more powerful connectivity engines to ensure the intense performance challenges are realized. This upgrade wave will create an enormous growth catalyst for the entire smartphone ecosystem. And as a leader in unwiring the planet, Skyworks is well positioned to capitalize.
Griffin believes there could be 75 billion connected devices by 2025 and that mobile-data usage could increase fivefold by 2021. Research firm IDC nowprojectsworldwide spending on the Internet of Things will grow at a compounded rate of over 14% annually and reach about $1.1 trillion by 2021, up from an approximate $800 billion in 2017. We can quibble about the exact figures, but what cannot be denied is that the number of connected devices is going up -- by a lot. And Skyworks will definitely benefit from this trend. As Griffin pointed out in the company's fourth-quarter conference call, "by definition, these applications would not be possible without fast, secure, power-efficient connectivity solutions provided by Skyworks."
Skyworks also trades at a relatively attractive valuation. Based on its trailing-12-month adjusted EPS of $6.84, shares currently have a P/E ratio of just 14. This despite the fact that, in the company's first quarter, revenue grew by 15% and earnings per share by 24% year over year! In 2017, the company raised itsdividendby 14%, giving it a yield of about 1.34%. The dividend also has a lowpayout ratioof less than 20%.
I have found a lot to enjoy in my 40s, despite a few more pounds around my waistline and a few less hairs on top of my head. That being said, I want to invest smartly so I can fulfill my financial needs now and still set myself up nicely for my 50s, 60s, and beyond. These three stocks are all in my portfolio because I believe they have larger tailwinds propelling them forward, trade at compelling valuations given their earnings growth, and pay growing dividends.
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Matthew Cochraneowns shares of Corning, Mastercard, Skyworks Solutions, and Verizon Communications. The Motley Fool owns shares of and recommends Mastercard, Skyworks Solutions, and Verizon Communications. The Motley Fool recommends Corning. The Motley Fool has adisclosure policy. || 3 Reasons I Might Sell Intel Stock: Shares of chip giantIntel(NASDAQ: INTC)have performed well in recent years, thanks to both improvements in Intel's business (revenue is growing again; profitability is on the rise) as well as a higher overall stock market (a rising tide lifts all boats).
Nevertheless, while Intel's stock and financial results have been solid for a while now, and while I expect the company to continue to deliver strong financial performance this year, there are some long-term concerns that have me considering taking my profits and moving on.
Here are three.
Image source: Intel.
Intel's product competitiveness has been held back substantially thanks to severe issues in Intel's Technology and Manufacturing Group (TMG), which is responsible for manufacturing the hundreds of millions of processors that Intel ships each year.
The impact has been on two fronts. Firstly, the slowdown in the company's transition to new manufacturing technologies as competitors speed up their own moves to next-generation technologies has meant that whatever competitive edge Intel had in that area has been eroded. Consequently, companies that build products using other chip manufacturers' technologies have access to increasingly competitive technologies relative to Intel's, further eroding the advantage that Intel once had.
The second impact has been to limit the pace at which Intel can deliver chip innovations. For example, Intel has been forced to sell chips based on its Skylake architecture -- a chip design that launched in the second half of 2015 -- for three years as the follow-on designs to Skylake were intended to be manufactured on the company'sperpetually delayed 10-nanometer technology.
While Intel is clearly taking actions to ensure that this doesn't happen again, the company allowed its competitors to make up a lot of ground in terms of chip design and performance. It's not clear if Intel can enjoy the technology lead that it once had even when it finally brings its 10-nanometer tech into production.
Put simply, I've lost faith in the manufacturing organization within Intel -- and since this is such a critical part of the company's overall product strategy, it has shaken my faith in the company's medium- to long-term business prospects.
Although Intel has done a reasonable job of expanding its total addressable market and is making moves to capture a larger part of that market, the fact is that Intel is facing increased competition across the board in its core markets.
If Intel's manufacturing group were executing as it had historically, then I'd be less concerned about competitive pressures. Intel has strong leadership positions in its core markets, and with a clear manufacturing advantage, I'd trust the company to continue to dominate its competition.
Nowadays, when Intel's manufacturing lead has turned into, at best, parity and at worst a laggard position -- and those manufacturing stumbles actively impede the innovation that the company's product development teams try to deliver -- it's far less certain that the chip giant can successfully defend against material market segment share loss in the medium to long term.
Historically, Intel has been quite transparent with investors about its technology plans and has had detailed analyst days each year, diving deep into its business strategies.
Right now, it seems that Intel is cutting back on that transparency in a big way.
An Intel spokesperson told me that the companyhasn't yet determined if it'll host an analyst day in 2018, which is highly discouraging. Moreover, Intel seems to have gone completely silent about the status of its long-delayed 10-nanometer chip manufacturing technology and hasn't said a peep about the follow-on 7-nanometer technology.
By contrast, Intel's main competitors update their respective investors regularly about the progress that they're making in bringing their future technologies to life.
The lack of transparency on Intel's part can't be viewed as anything but a negative. What, if anything, is the company trying to hide from its stockholders?
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Ashraf Eassaowns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || A.I. & Big Data ETF Debuts to Capture Future Technologies: This article was originally published onETFTrends.com.
Global X, an exchange traded fund shop known for its thematic approach to investing, has rolled out a strategy that covers the future of analytics to help investors gain exposure to companies involved in advances in artificial intelligence and big data.
On Tuesday, Global X launched the Global X Future Analytics Tech ETF (AIQ) , which has a 0.68% expense ratio.
"Artificial Intelligence and Big Data is becoming an increasingly powerful theme as companies rapidly grow their proprietary data and seek to harvest insights from that information," said Jay Jacobs, director of research atGlobal X. "We are excited to bring out AIQ as our 7th ETF in our multi-billion dollar Thematic - Tech suite to provide access to this accelerating theme."
The Global X Future Analytics Tech ETF tries to reflect the performance of the Indxx Artificial Intelligence & Big Data Index, which is comprised of companies involved in the development and utilization of artificial intelligence and big data. The underlying index includes those involved in generating vast amounts of data and developing proprietary AI systems to derive actionable insights from the data set. The ETF will also cover companies that provide AI-as-a-Service for big data analytics or are developing hardware integral to powering AI systems, such as quantum computing.
The Big Potential of A.I.
Artificial intelligence refers to the process of machines or computers performing tasks that would otherwise require human intelligence. AI relies on processing huge amounts of data, or "big data," to learn. The potential of AI systems is based off the accumulation of big data. Some observers project the emergence of AI could add up to $15.7 trillion to global GDP by 2030.
"Given AI's potential to impact a variety of sectors, we believe it is poised to become one of the most significant technological innovations of the modern era," Alex Ashby, director of product development at Global X, said in a note. "Our aim with all of our technology-thematic funds is to provide efficient access to the companies leading the charge in the world's most disruptive trends."
AIQ's underlying index screens artificial intelligence companies based on artificial intelligence applied to product services and artificial intelligence-as-a-service for big data applications. Additionally, companies included in the underling index include companies that produce hardware for artificial intelligence applications and those developing quantum computing.
Related:ETF Trends Robotics & AI Channel
Sector weights include information technology 81.3%, industrials 11.3%, consumer discretionary 6.1%, financials 1.0% and health care 0.4%. Sub-sectors include internet software & services 23.9%, semiconductors 15.1%, application software 15.0%, system software 13.2%, internet & direct marketing retail 6.1%, IT consulting & other services 5.3%, tech hardware & peripherals 4.7%, aerospace & defense 4.5% and research & consulting 4.0%.
Country weights include U.S. 77.5%, Cayman Islands 9.3%, Germany 4.3%, Canada 2.5%, Jersey 1.6%, Ireland 1.1%, South Korea 1.0%, Taiwan 0.9% and U.K. 0.9%.
For more information on new fund products, visit ournew ETFs category.
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READ MORE AT ETFTRENDS.COM > || Why Bitcoin's 'Death Cross' May Be a Bear Trap: Bitcoin risks entering a technical "death cross" soon, but the bearish signal will likely not be as severe as has been made out in reports.
Adeath crossoccurs when the 50-day moving average (MA) cuts the 200-day MA from above (bearish crossover), indicating a long-term bear market going forward. As seen on the bitcoin daily chart below, the 50-day MA looks set to dip below the 200-day MA imminently.
Down 50%: Q1 Was Bitcoin's Second Worst Quarter Ever
Some strategists aresayingthat the death cross could yield a big sell-off in BTC, possibly to as low as $2,800, a level last seen in September 2017. However, such fears are likely overstated, as the crossover tends to work as a contrarian indicator - that is, they tend to occur at the end of a big bear move, with prices rallying soon after.
Further, it takes a great amount of effort on the part of the bears to push the 50-day MA below the 200-day MA. For instance, BTC turned lower from the $20,000 mark in mid-December when the 50-day MA was still rising.
The moving average adopted a bearish bias (began sloping downwards towards the 200-day MA) after BTC fell to $6,000 on Feb. 6. Since then, BTC has created lower highs (bearish setup) around $11,700 (March 5 high) and $9,177 (March 21 high) and the 50-day MA has slowly closed-in on the 200-day MA.
To cut a long story short, BTC had to drop by $14,000 (from $20,000 to $6,000) to push the 50-day MA so far towards the 200-day MA. Hence, it's likely that the bears will run out of steam by the time the actual death cross occurs.
Acid Test: Bitcoin Must Break $7,800 for Bull Reversal
In fact, it could end up being a bear trap, at least in the short term. And the historical data seems to support the argument, as explained below.
• BTC bottomed out at $340 (April 11, 2014) immediately after death crosses were confirmed (see hand icons on chart) and had rallied to $680 by June 2014. Note, the RSI showed oversold conditions when the death cross happened, hinting at the rally to come.
• Another more severe death cross occurred in early September 2014 and, by January 2015, bitcoin had dropped more than 65 percent to $170. Back then, the RSI was bear biased and holding well above the oversold territory.
• Meanwhile, the death cross seen in mid-September 2015 was a big failure. BTC had already bottomed out at $162 in mid-August and continued to rise after confirmation of the cross signal.
So, the death cross failed to yield a big sell-off in two out of the last three events, and the odds are high that it would end up being a bear trap for the third time.
As of writing, BTC is changing hands at $8,050 on Bitfinex. Having failed to beat the resistance around $9,000, the cryptocurrency now looks set to revisit the recent low of $7,240 - a move that would most likely confirm the death cross, but could also push therelative strength index(RSI) near the historical bull reversal zone of 30.00-27.00.
A move to $7,240 (recent low) will likely confirm the death cross and may yield further drop towards$6,600. That said, the support will likely hold, with the daily RSI likely to show oversold conditions by then. In the subsequent days, bitcoin may trap th bears on the wrong side of the trade, as seen in April 2014 and September 2015.
However, if BTC finds acceptance below $6,600, a further sell-off to sub-$6,000 levels cannot be ruled out.
Lighting fireworksimage via Shutterstock
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[Random Sample of Social Media Buzz (last 60 days)]
Baloon Animals by trader veryevilone published November 05, 2016 #bitcoin #btc #btcusd #cryptocurrency https://www.tradingview.com/chart/BTCUSD/pwA4bThM-Baloon-Animals …pic.twitter.com/HabrpyykU6 || BGX: The New Face of a Multi-Billion Industry - http://bit.ly/2uSfzTk
Advertise #ICO http://bit.ly/2GFT1Gp
#bitcoin #news #btc #bitcoinnews #cryptocurrency #blockchain || Bitcoin Smuggling https://news.bitcoin.com/bitcoin-mules-flood-china-as-otc-cryptocurrency-trading-flourishes/ … || The NYSE Bitcoin Index (.NYXBT) Technical Review from Heffx http://dlvr.it/QNdlnW pic.twitter.com/HeDRfHH9ib || Video - The New Ethereum ASIC Miner Is Stupid - http://coinmarketzoo.com/info/video-the-new-ethereum-asic-miner-is-stupid/ … #bitcoin #cryptopic.twitter.com/aVKfHjKnBB || #BTC
Buy at #Paribu and sell at #Bitstamp. Ratio: 1.07%
Buy at #Koineks and sell at #Bitstamp. Ratio: 1.26%
Buy at #SistemKoin and sell at #Bitstamp. Ratio: 1.47%
Buy at #Paribu and sell at #Bitfinex. Ratio: 1.02%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || #BTC Average: 6321.63$
#Bitfinex - 7033.10$
#Poloniex - 7016.12$
#Bitstamp - 7022.89$
#Coinbase - 7004.04$
#Binance - 7011.91$
#CEXio - 7101.20$
#Kraken - 7007.00$
#Cryptopia - 7020.00$
#Bittrex - 7000.00$
#GateCoin - API DOWN!$
#Bitcoin #Exchanges #Price || Go go sur le concours de @BaleineFR pour gagner un Ledger Nano S et 50 € de BTC!
#BaleineSecure || @bethereumteam Read about our CEO getting interviewed by @cryptonewsmag!
https://cryptocurrencynews.com/ceo-series/bethereum-ceo-ico/ …
#cryptocurrency #CryptoSummit #cryptonews #ICO #preICO #TokenSale #presale #blockchain #bitcoin #reddit #Bitcointalk #Ethereum #ERC20 $ETH $BTC || Wat is Cardano? | http://Bitcoinmeester.nl https://bitcoinmeester.blog/2018/04/04/wat-is-cardano-bitcoinmeester-nl/ …pic.twitter.com/hyh3K15gQi
|
Trend: up || Prices: 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-07-05]
BTC Price: 670.63, BTC RSI: 53.33
Gold Price: 1356.40, Gold RSI: 73.06
Oil Price: 46.60, Oil RSI: 44.86
[Random Sample of News (last 60 days)]
What the Brexit means for your retirement: Brexit and the chaos it unleashed in financial markets are no reason for investors with a sound financial plan to panic. That’s the word from Ric Edelman, who runs one of America’s top financial advisory firms.
Stocks (^DJI,^IXIC,^GSPC) tanked on Friday, with all three major indexes plunging three to four percent. Investors turned to classic safe havens, sending gold prices (GCN16.CMX) soaring and bond yields (^TNX) sharply lower. U.S. stocks are pointing to a slightly lower open Monday after mixed results in Europe and Asia overnight.
“This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about theBrexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.”
Edelman Financial Services manages $16 billion for more than 30,000 clients.
Edelman says given Brexit, theUS presidential electionand other worries, investors should expect market volatility for a while. In response to wild market swings, his strong advice is “do not change your long-term investment strategy.”
Edelman says his clients will take advantage of the volatility to rebalance their portfolios, selling assets that have appreciated in value and adding assets like stocks that have suffered declines. “This represents investment opportunity,” he said.
Unfortunately, Edelman says, many investors will do exactly the opposite and dump stocks when they’re falling. “Nobody knows how low is low, and nobody knows what the market is going to do to.Trying to time the market is a fool’s bet, and that’s precisely what a lot of people try to do.”
That said, Edelman says events like the Brexit vote and the market’s reaction are a good time for people who need to get their financial houses in order to take action and to avoid making mistakes.
“If you don’t have a long term strategy, if you’re not properly diversified, this is the time to get effective financial advice,” Edelman says. “Investors could act on impulse and do the very wrong thing at the very wrong time.”
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The newest Bitcoin price surge isn’t just about Brexit || Here's why 21 is the most exciting bitcoin company right now: Before 21 Inc. had even put out a product, it had raised $121 million in venture funding —the most of any bitcoin company. It was unclear, for months, what 21 would actually do or make. But some of the biggest names in fintech funding, including Andreessen Horowitz, Khosla Ventures, and the Winklevoss brothers, were interested enough to invest. Then things started to move very quickly. In February, 21 released its first product—and it was hardware, a rarity among bitcoin companies. It was the 21 bitcoin computer, which allows for mining the cryptocurrency as well as building applications on top of the bitcoin blockchain, the open-source, decentralized ledger that underlies bitcoin . The computer, which runs on Raspberry Pi (a small, single-board programming computer launched in 2012), sells for $400 and is about the length of an iPhone. It attracted a lot of buzz and attention in the bitcoin world. The 21.co bitcoin computer Last week, at the bitcoin conference Consensus , 21 CEO Balaji Srinivasan, a partner at Andreessen Horowitz, moved the company’s purview forward again. He announced that the 21 software can now be installed on any Mac or Linux-compatible system (Windows is coming soon), and eventually will come to mobile phones. “Every computer is now a bitcoin computer,” he said. And this is why 21 is arguably the single most exciting bitcoin company right now. Most people on Wall Street, as well as regular, everyday investors (and Yahoo Finance readers like you) still don’t quite understand what bitcoin is, or why it matters. Many think it’s a scam or some kind of illegal tool for hackers. (The negative publicity around stories like the Silk Road trial didn’t help.) Srinivasan’s argument is: You don’t need to know what it is or how it works for it to be important to your digital life. He explains it this way to a layperson: “I ask people, ‘Do you use Linux?’ They’ll probably say no. But if you’re using Google.com, or Facebook.com, or Yahoo.com, you actually are using Linux, even if you don’t know it. So Linux is there, everywhere, it’s just behind the scenes, and it just sounds very technical because it solves problems for developers. And I think it’s going to be the same thing with bitcoin.” Story continues Srinivasan frames bitcoin as the next major “system resource” in computing, something that will be a key component in every computer, just like a hard drive, RAM, and bandwidth. Bitcoin, he says, can be the resource that computers trade with other computers (without you having to worry about it), creating a “machine economy.” Once a computer can send a small amount of money as part of its operating system, “it can effectively rent or sell resources to other computers,” Srinivasan says. That was the idea behind the bitcoin computer: “If you had 500 of these things, what could they do together?” So, what can they do together? For starters, you could earn a small amount of money (yes, in bitcoin, but a wide range of platforms now exist for quickly converting bitcoin to U.S. dollars , if that’s what you’d prefer) every time you visit a certain URL. On stage at Consensus, Srinivasan described it thusly : "Every time you load a webpage is a HTTP request. That’s a lot of HTTP requests. If you are earning bitcoin on every HTTP request, that could be a lot of earned bitcoins." This could get exciting for media companies, in particular, with paywalls. For years, print newspapers and magazines have struggled with how to charge readers for access to their content online. Paywalls have only been successful for a select few publications, mostly because of the friction created by the moment when you, a reader in a hurry, have to enter your credit card information. In the future that 21 envisions, your computer could cough up a small fee on its own every time you visit a publication's web site, or even every time you want to read a single article. If this process could become truly seamless, it would have major implications for digital journalism as an alternate revenue stream from selling digital ads, which has severe flaws. But this doesn’t just apply to journalism. It's much, much bigger than that. On the machine web, where computers can accept and send small amounts of money instantly, there would no longer be a need to ever enter your credit card information online. The concept would improve the experience of shopping at Amazon or any other e-tailer, or sending a donation to a Kickstarter campaign, or any instance when you need to send money online. This, after all, has been the value proposition of bitcoin’s rails since its inception—cutting down on the usual transfer fees, delays, and general friction you face when sending money through banks. And 21's vision should be exciting to everyone, not just developers who understand bitcoin, or speculators who have bought bitcoin as an investment. It should be exciting to anyone who has ever sat at their computer, aggravated and impatient, filling out a credit card form online. “One way of thinking about it is, the 21 software makes bitcoin a part of your operating system,” Srinivasan says. “Over time, what we think that will do is increase demand for bitcoin as a resource.” Of course, the rah-rah-bitcoin train has slowed recently, on the whole, as banks and big financial institutions have gone gaga over blockchain without bitcoin. But along with a handful of other companies that are doubling down on the cryptocurrency, like Coinbase , Srinivasan and 21 are betting that it’s still the digital coin that will prove to be the major innovation—not closed, permissioned blockchains. Big business will eventually come around to bitcoin, Srinivasan insists. He compares it to online dating, which once had something of a stigma around it that, today, has all but disappeared. “It was like, it’s for nerds, it’s for nerds, it’s for nerds,” he says, “and then suddenly, oh, here’s Tinder, and now it’s totally flipped and normal and you’d be crazy not to date that way.” For now, to most of the mainstream economy, it’s still the bitcoin believers who look like the crazy ones. Srinivasan is just fine with that. Check back with Yahoo Finance later this summer, when we will test out what the 21 bitcoin computer can do in a follow-up story and video. -- Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Coinbase is more bullish on bitcoin than ever How Circle aims to use blockchain to win the payment-app war How big banks are paying lip service to the blockchain Bitcoin's biggest investor just bought its biggest news site || Chamber of Digital Commerce Gathers at Federal Reserve Annual Meeting to Discuss Blockchain Technology: WASHINGTON, DC--(Marketwired - Jun 6, 2016) - The Chamber of Digital Commerce, the world's largest trade association representing the blockchain industry, helped facilitate discussions at an event hosted by the Federal Reserve, World Bank, and IMF in Washington, DC on June 1 through 3, 2016. Central banks from over 90 countries participated at the event titled "Finance in Flux: The Technological Transformation of the Financial Sector." The theme of this year's conference was on blockchain and FinTech.
In her remarks, the Chair of the Board of Governors of the Federal Reserve System, Janet Yellen, addressed heightened concerns about cybersecurity. She also said that it's undeniable that the global financial system has benefited from FinTech and encouraged central banks to do all they can to learn about financial innovations including bitcoin, blockchain and distributed ledger technologies.
Adam Ludwin, CEO of Chain, delivered the keynote address in the Board of Governors of the Federal Reserve System's Board Room."Blockchain technology will provide central bankers, regulators and policy makers with new tools to enhance the safety, soundness and capabilities of the financial markets and payments systems globally. As participants on industry blockchain networks, regulators will gain real-time transparency to measure systemic leverage and monitor compliance. And as potential operators of networks for issuing central bank digital currencies, policy makers have the opportunity to forge a payments system that will enhance security, reduce settlement times and create new possibilities for monetary policy,"said Ludwin.
Jeff Garzik, CEO of Bloq and Bitcoin Core Developer, outlined the innovative elements of blockchain technology, including trust shifting, decentralization, cryptography, immutability and others."Some of the greatest potential benefits of blockchain technology are going to be first seen and actively leveraged in emerging nations,"said Garzik.
Perianne Boring, Founder and President of the Chamber of Digital Commerce, encouraged the Federal Reserve and central banks to focus on and embrace innovation in blockchain and distributed ledger technology."We believe blockchain technologies are capable of providing the Fed and other regulators with next generation tools to fulfill their mission of monitoring the safety and soundness of the financial system more effectively,"said Boring.
The conversations with senior level directors of central banks from around the world were very encouraging and indicated a high level of interest in blockchain technology.
About the Chamber of Digital Commerce:The Chamber of Digital Commerce is the world's leading trade association dedicated to promoting the understanding, acceptance and use of digital assets and blockchain technology. For more information, please visit:DigitalChamber.org.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3018127 || Vietnam Is Ready for the and Wave of Privatization: - By Long Tran Thang
The first thing that comes to people's minds about Vietnam is usually a 20 years' war that divided the country and somehow the world until 1975. Vietnam has more to offer than just a war memory or an emerging travel destination.
So permit me to briefly summarize Vietnam and its economy. Located in the southeast of the continent of Asia, Vietnam covers 310,070 square kilometers of land and 21,140 square kilometers of water, making it the 66th-largest nation in the world with a total area of 331,210 square kilometers. Vietnam shares land borders with China, Laos and Cambodia and sea border with China, Taiwan, The Philippines, Malaysia, Indonesia, Thailand and Cambodia. Vietnam's GDP reached U.S. $204 billion last year with a 10-year growth average of 5.7%.
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• BSI 15-Year Financial Data
• The intrinsic value of BSI
• Peter Lynch Chart of BSI
The dynamic behind one of the fastest-growing economies is the golden structure of a young and large population (94 million people and 60% under 30 years old). After "Doimoi" 1986 (30 years ago), Vietnam transformed from a centralized economy to a market-oriented economy and joined the lower middle income countries group.
Vietnam currency, real GDP growth, stock return, P/B vs.Aemerging countries(2015)
(click to enlarge)
Source: BIDV Securities Company BSC
Enough about the big picture, let's take a look at Vietnam's stock market which is classified as a frontier market by MSCI. The main Index a Vnindex (Hochiminh Stock Exchange) started from 100 points in 2000 and now stays around 600 points after 16 years. Among the youngest stock markets, the "mid-teen" stock market of Vietnam has gone through many ups and downs. On May 23, President Barack Obama visited Vietnam. The last two times an American president visited Vietnam, the Vnindex soared in the two months before and after the event by 31% in 2000 and 49.9% in 2006.
The first wave of privatizationinVietnam's stock market
What I call the first wave of Vietnam's stock market (2002-2006) was the golden time when foreign investors visited and stayed for a few weeks just to open an account to invest in listed stocks and IPOs in Vietnam.
Vnindex at the Hochiminh Stock Exchange increased by 144% in 2006 while HNX-Index in the Hanoi Stock Exchange rose by 152.4%. The total market capitalization was $13.8 billion in late 2006 (22.7% of GDP), in which foreign investors held approximately U.S. $4 billion, accounting for 16.4% of the capitalization of the entire market.
In 2007, the Vietnam market boomed with a new securities law. The Vietnam stock market witnessed strong growth in terms of size and volume. By the end of 2007, total stock market capitalization reached nearly VND500,000 billion, about 43.7% of GDP.
Up to 2007, the stock market helped Vietnam privatize around 3,274 state-owned companies. The first wave of privatization created a number of popular companies for public and great stocks for investors. Some of those companies were considered the gems of the country, and one even gained as much as 2,200%. Vietnam today could be so underdeveloped without the strong privatization wave of 2006.
Standout Vietnam stocks that transformed from SOE
Source: HSX, HNX
Researchers show that after being privatized, most Vietnam SOEs had significant improvement in both business aspects (in terms of growth in sales, profit and ROA, ROE, ROS) and social aspects (job creation, labor welfare).
How SOEs improve after privatization
Source: Dr. Doan Ngoc Phuc's Doctoral Thesis 2012
Vietnam's stock market hasn't recovered from the global financial crisis of 2007. Compared to the peak in 2007 (post-crisis), Vnindex now is about 50% discounted while the size of the economy has been tripled from U.S. $75 billion to $204 billion. The fact that Vnindex still is lagging far behind all Asian markets makes Vietnam such an attractive investment opportunity.
Vnindex and Asia main indices (2007-2016)
(click to enlarge)
Source: Bloomberg
Ready for the second wave of privatization
It seems that all the years ending with a six are "transition years" for Vietnam, such as "Doimoi" in 1986 (decentralized planning economy), ASEAN and AFTA membership in 1996 and WTO membership in 2006. This year 2016, Vietnam will have a new political term cabinet which is expected to make Vietnam more open to the Western world, attracting both direct and indirect foreign investment. For foreign investors, it is about time to catch the second wave of IPO and divestment of Vietnamese SOEs.
I do not mean that Vietnam will have a super bull this year, but investors should keep their eyes on Vietnam's stock market. There are three main investment points:
Obama has "Buncha" for dinner at a traditional shop in Hanoi
(click to enlarge)
Source: Tuoitre online
First, the privatization of the rest of SOEs (the private sector and SOE reforms are the main story of Vietnam).
The real story at present in Vietnam is the rapidly improving performance of the private sector, including FDIs, domestic private firms and especially soon privatized SOEs. The Vietnamese government now realizes that it should reduce the number of SOEs to improve efficiency and promote a market-oriented economy. In the past, the first wave of IPO has created great companies and equities for investors. This time is the last chance to catch the new IPO and divestment in Vietnam. Some popular names that investors have been waiting for:
• Telecommunication: Mobifone (the second biggest telecom company in Vietnam).
• Consumer products: Vinamilk, SJC (the biggest gold bar producer in Vietnam).
• Insurance: BaoMinh, VinaRe (the biggest reinsurance in Vietnam).
• Transportation: VietjetAir, Vinalines, Danang Port, Nhatrang port.
• Oil and gas: Binhson, Pvoil, PV Power.
• Construction and materials: Binh Minh, Tien Phong.
• Real estate: Handico, Udic, Rescovn, Benthanh.
Number of IPOs in Vietnam
Source: HSX, HNX
Vietnam is so ready to push the privatization of the SOEs (which local authorities called "equalization"). The Vietnam government targeted to reduce the number of SOEs by 50% to 200 companies from 2016 to 2020. That is the reason why investors should be in a hurry. Vietnam's government has new policies to push the process that will be in favor of foreign investors' participation:
Lifting the foreign ownership limitation. The government issued Decree 60, which will increase the cap for foreign stake holding in a local company. Previously, foreign ownership ratio in listed companies was the same for all companies (49% for nonbanks and 30% for banks). Decree 60 now provides different foreign ownership ratios for each sector and subsector. For some sectors, foreign investors are allowed to own up to 100% of the stocks.
State-owned enterprises IPO meaning listed stocks. Previously, IPO companies in Vietnam don't need to be listed in the stock market like in other countries. The Ministry of Finance's Circular 01/2015/TT-BTC issued on Jan. 5 has laid down regulations for unlisted securities operating in the local stock market. State-owned enterprises (SOEs) must trade in the unlisted public-company market (UPCoM) within 90 days of an initial public offering before official listing (in Hochiminh Stock exchange or Hanoi Stock Exchange). This policy is expected to raise the market capitalization of Vietnam which is now only U.S. $60 billion, equivalent to 34% of GDP, by 17.3% year over year.
Second, Vietnam completed negotiations for two majorA free trade agreements.
The free trade agreement Vietnam - EU (EVFTA) and the Trans-Pacific Partnership (TPP) are making the year of 2016 somehow look a lot like 2006 when Vietnam was about to join WTO. The only difference is that this time the economy is much more ready for a global integration than it was 10 years ago.
Up to now, Vietnam has signed 17 free trade agreements, which exposes Vietnam to 62% of the world's population and 80% of the world's GDP. In the near future, these 17 FTAs will be promoting Vietnam's exportation. They have made significant impacts on medium and long-term growth in both politics and the economy of Vietnam.
• 62.2% of the world's population is 4.5 billion of 7.3 billion people.
• 79.6% of the world's GDP $61.3 trillion of $77 trillion.
Countries have FTA with Vietnam
(click to enlarge)
Source:BIDV Securities(BSI)
Third, valuation compared with other regional stock markets.
Most Asian stock markets excluding Vietnam have reached the previous high of 2007. That lagging makes Vietnam's stock market worth a superior site for investment in Asia (both listed stock and IPO).
• Compared to Southeast Asia (emerging stock markets), Vietnam's stock market has always been valued at a discount in terms of P/B and P/E. With the EPS annual growth rate around 10%, the low P/E ratio makes Vietnam's market quite attractive.
• The economic growth was strong in the last five years. In 2015, Vietnam has become a bright spot when the gross domestic product (GDP) grew by 6.68% year over year, and it is the only place in Asia where exports grew significantly.
P/E ratio of Vnindex and Asian indices (2007-2016)
(click to enlarge)
Source: Bloomberg
How to invest in Vietnam's stock market
Here is how to get a ticket to catch the opportunities in Vietnam's stock market. I will briefly explain how investors can invest in Vietnam's stock market, including (1) listed stocks and (2) IPOs.
How to invest in listed stocks
There are three ways for foreigners to invest in Vietnam's listed stock market: (1) ETFs, (2) Vietnam focus funds and (3) open a trading account at a local broker.
ETFs:There are only a few ETFs that have exposure to Vietnam. Two of the biggest areMarket Vectors Vietnam ETF(VNM) listed in the U.S. and the FTSE Vietnam listed in EU and Asia.
• Vaneck VNM - NAV: U.S. $338 million invest in 31 stocks.
• FTSE Vietnam (FTSE) - NAV: U.S. $353 million invest in 21 stocks.
Vietnam focus funds:There are few listed and unlisted funds that have large exposure to Vietnam stock markets. The good news is some of the close-end funds are trading with huge discounts. Here are some of the names:
• Vietnam Holdings Ltd.(VNMHF): NAV U.S. $109.5 million.
• Vietnam Enterprise Investment(STC:FID): NAV U.S. $850 million.
• VinaCapital Vietnam Opportunity Fund Ltd.(VOF.L) NAV U.S. $743 million.
• PYN - Elite (Gray market ELITE:FH): NAV U.S. $215 million.
• Vietnam Emerging Equity Fund Limited (Grey market PXP) NAV U.S. $100 million.
Open a trading account:If you want to directly invest by yourself, there are three main steps to open an account for foreigners (to directly invest in listed stock market):
• Register for an indirect investment capital account (IICA) at State Bank of Vietnam (SBV). Your custodian bank can do that for you in one or two weeks.
• Apply for a trading code at Vietnam Securities Depository (VSD). Your custodian bank or a local broker house can do that for you in one or two weeks.
• Open a trading account at a local broker house. When the IICA and TCA are completed, you can instantly open trading account at local broker.
How to bid IPO in Vietnam
It is quite a process to bid in Vietnam's IPO; hence you will need your local broker's assistance. If you already have a trading account to invest in Vietnam, the process will be much simpler than starting a new one. Anyway, as people always say, a hidden gem is worth the digging. A list of the ongoing IPOs and more information can be found on the website of Hochiminh Stock Exchange, Hanoi Stock Exchange or local stock broker's website. There are some steps to take:
Bidding registration requires documents as below (in order):
• Bidding register form (with the confirmation of the bank where investor opened the account).
• Indirect investment account (at the State Bank of Vietnam) : Original copy plus a copy.
• Business license (or equivalent documents): Notarized copy.
• Authorization form for authorized executing individual: Original copy.
• ID or passport of authorized individual: A copy.
• Deposit paper: A copy (investor has to deposit 10% of value of amount registered to buy, calculated at starting price before the deadline).
• Account opening confirmation of the bank in Vietnam where the investor opened indirect investment account and will pay through: Original copy.
Bidding participation form submission:
• After submitting all the required documents, investor will receive the receipt to get bidding participation form. Complete and put the bidding participation form directly to the ballot box in the auction agency.
• Or send the bidding participation form in the envelope that is sealed with the signature on the edge. Time for receiving is the time when the auction agency receives and signs with the post or the investor.
Conclusion
It seems that all the years ending with six are "transition years" for Vietnam, such as "Doimoi" in 1986 (decentralized planning economy), ASEAN and AFTA membership in 1996 and WTO membership in 2006. In 2016 Vietnam will have its new term cabinet which is expected to make Vietnam more open to the Western world, attracting foreign investment both direct and indirect.
On May 23 President Barack Obama visited Vietnam, putting the country under the spotlight of businessmen and investors. In the last two times a USA President visited Vietnam, Vnindex soared during 2 months before and after the event by respectively 31% in 2000 and 49.9% in 2006.
Vietnam stock market has been in a lagging cycle since the 2008 financial crisis which makes it attractive for investors. This year, we expect that it will be the last chance to catch the second wave of IPO, divestment and privatization of big SOE in Vietnam. There will be more and more interesting SOEs going IPO and get listed soon. The stock market and investors will benefit from (1) Privatization (state divestment and IPOs), (2) Lifting up the Foreign ownership limitation and (3) low valuation ratio compared to Asian countries.
Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure:A Long Tran Thang is proud to work for BIDV Securities Company Vietnam (BSC) as head of research and before that as deputy head of investment and analyst since 2007. BIDV Securities is one of the first securities firms in Vietnam. Being a subsidiary of BIDV a the largest commercial Banks in Vietnam A aA BSC inherits both the 55 years of experience in investment, banking and finance and the nationwide network of enterprises. Long Tran Thang earned an MBA from Solvay Brussels School (ULB) in 2014. Long Tran Thang graduated with a B.A. in economics from the ANU Australian National University (ANU) and a B.A. in finance from The National Economics University (NEU).
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• BSI 15-Year Financial Data
• The intrinsic value of BSI
• Peter Lynch Chart of BSI || Bitcoin is the new safe-haven asset: Analyst: Bitcoin is becoming as safe a haven as gold, one investment analyst told CNBC.
The price of the cryptocurrency(: BTC=)has been rapidly rising in recent weeks. It traded above $730 per bitcoin at the end of last week, levels not since February 2014.
According to Chris Burniske, a blockchain analyst and products lead at investment manager ARK Invest, the cryptocurrency could be referred to as digital gold, as it shares many of the characteristics that makes the precious metal a great store of value.
"Bitcoin shares those same characteristics," Burniske told CNBC in a phone interview. "[Both have an] extremely limited supply and a relatively inert state. Bitcoin and gold can both be used: for example, gold is used in electronic circuits and bitcoin is used as payment.
While gold(Exchange: XAU=)has performed well in recent months, rising 20 percent year to date, Burniske suggested investors should also consider diversifying into bitcoin.
"When you look at the global markets, there's lots of fear, uncertainty and doubts. You've got people worrying about the equity markets [and] you've got people fleeing into bonds," he said. "While gold has had a bit of a run in 2016, over the last five year period it's been a terrible performing asset."
"So you've got people starting to wonder where there are safe havens to store their assets. I think you have lot of people saying 'Hey we want to diversify a little bit' making allocations to bitcoin'."
Some disagree that bitcoin should be considered a safe-haven asset. Vijay Michalik, research analyst at consultancy Frost & Sullivan, pointed out that bitcoin is still very volatile.
"Bitcoin is still such a new innovation that the economics of its value aren't fully understood, and the price looks likely to remain moderately volatile in the medium term," he told CNBC in an email.
"Volatility and the long-term unknowns involved in bitcoin's development stop it from being considered a safe-haven asset like gold. However, because bitcoin is unlinked to any one national currency or macroeconomic factor, it could be a good choice for portfolio diversification."
The recent rise in value of the digital currency is mainly due to anupcoming change which will see bitcoin miners make less moneyfor each block that they extract. This is likely to tighten the supply of bitcoins as fewer new coins enter the system.
"In early July, the annual rate of supply inflation will be cut from 8 percent to 4 percent. In basic economics, you cut the supply in half but demand continues to increase, which we're seeing with bitcoin," said Burniske.
But Burniske did highlight some risks facing the cryptocurrency in the near future.
"There's the risk of the developer community not being able to come to consensus on how they want to scale bitcoin. This has been talked about for the better part of the last year," he said.
"They have made a lot of progress; they are going to implement something called Segregated Witness and I think the network will scale."
Segregated Witness will reduce the size of each bitcoin transaction, thereby increasing the number of transactions that can be processed at any given time.
Another risk is to the security of the bitcoin's network.
"Part of the concern around the upcoming block award change is that if those miners make less money, then they are less incentivised to throw machinery at the network to secure it."
Meanwhile, gold remains a popular choice for investors looking for safety. Adrian Ash, head of research at investment gold service BullionVault, explained what advantages the precious metal has over other assets.
"Throughout civilisation gold has been viewed as a well-established safe haven used to store value by all cultures in all ages across the word and has never gone to zero in recorded history," he told CNBC in an email.
"As a physical asset gold cannot default or go bust and is protected by a strong property law which is simple, proven and universally understood."
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• Personal Finance || Winklevoss Twins Approach BATS Global Markets To List Bitcoin ETF: Cameron and Tyler Winklevoss are notable Bitcoin investors and run a family office called Winklevoss Capital Management, which invests in various asset classes. The twin brothers also own approximately 1 percent of all bitcoins in circulation through their family office.
According to aregularity filing,the brothers now want to oversee the creation of a bitcoin exchange-traded fund (ETF) on the BATS Global Markets stock market. Initially, an ETF was proposed to trade on the Nasdaq exchange.
The BATS exchange oversaw close to 25 percent of all ETF activities in May.
It's Been In The Works
The brothers proposed creating an ETF three years ago that tracks the performance of the digital currency, but are still waiting for approval by the Securities and Exchange Commission. If successful, the proposed ETF would be the first SEC-regulated and approved bitcoin investment vehicle.
The Winklevoss brothers will use another bitcoin-related property under its management, the Gemini Trust Co., as the ETF's custodian. Gemini received a trust charter from the New York State Department of Financial Services last October, and it will hold the actual bitcoins in trust.
Related Link:Self-Proclaimed Inventor Of Bitcoin Reportedly Seeks Hundreds Of Patents On Blockchain Technology
An ETF would trade under the ticker "COIN."
The Wall Street Journal quoted BATS' head of exchange-traded products Laura Morrison as saying, "We are excited to add the Winklevoss Bitcoin Trust."
The Washington Post reported in 2013 that the brothers began buying bitcoins when the dollar value of a single coin was in the single digits. As of Thursday morning, the value of a single bitcoin according to CoinDesk was $668.24.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bid for SolarCity may mean Elon Musk doesn't see Tesla as an auto company: "Fast Money" trader Brian Kelly said that Tesla Motors(NASDAQ: TSLA)'bidfor SolarCity(NASDAQ: SCTY)indicates that "Elon Muskdoesn't view Tesla as an auto company."
He explained that while Tesla is selling electric vehicles at the moment, there have been signs that its CEO, Musk, has been intending to do more.
"If you look at what he's doing with the Gigafactory, you look at this acquisition, he's clearly going after the decarbonization of the electric grid in the U.S. To me, that's the bigger play in all of this," Kelly said.
Trader Karen Finerman said that Tesla's offer, valued up to $28.50 per share, "doesn't seem like a gigantic price for a company that was trading significantly higher not that long ago."
SolarCity shares closed at $21.19 on Tuesday, which is more than 75 percent below its all-time closing high of $86.14.
Trader Tim Seymour said that the timing of the deal seems "distracting," citing Tesla's struggles to meet sky-high expectations for deliveries and its mass-market car.
"They just had a capital raise. They probably need more capital. I mean, why now? ... This deal makes no sense," he said, adding that he's always found Tesla's valuation tough to justify.
Wall Street will surely be watching the aftermath of Tuesday's announcement closely. Famed short seller Jim Chanos has been outspoken about hisshort positions in both companies.
In September,Chanos told CNBC's "Squawk Box"that SolarCity is the most problematic of companies led by Musk because it's "burning $300 million to $500 million a quarter putting up solar panels that may not be worth anything in 20 years."
Disclosures:
Karen Finerman
Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, 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, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Steve Grasso
BA CC EVGN KBH MJNA MU OLN PFE PHM T TWTR UA GDX KIDS own EFA EFG EWJ IJR SPY NO SHORTS Stuart Frankel & Co Inc. and some of its partners: DAL LUV AAPL UAL LDP WDR AVP CVX FCX IBM 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
Brian Kelly
Brian Kelly is long Bitcoin, GLD, SFK, SLV, TLT, US Dollar UUP. He is short CS, DB, UBS
Tim Seymour
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, WYNN, XRT. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM
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• Personal Finance || Traders: Here's where to find some protection for your portfolio ahead of Brexit: The " Fast Money " traders debated which securities were best for padding portfolios with some near-term protection ahead of the vote in the U.K. on whether or not to leave the European Union. The CBOE volatility index (INDEX: .VIX) hit a high of 21.19 on Wednesday, ahead of the referendum vote. Trader Steve Grasso said that the utilities, consumer staples, gold and dividend yielding securities will likely be repurchased after the decision. Gold is a good play, according to trader Guy Adami. Overall, he believes that global slowdown and deflationary pressure are playing a bigger role in international markets than Brexit. Trader Dan Nathan said that he is watching the iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT) (TLT) because of past price action during catalytic events. "When you think back to August, when we really saw risk asset volatility go berserk, we had this spike to new all-time highs or multi-year highs in the TLT and then that came off, and it came off really hard once things calmed down," he said. "The same thing happened in February." Trader Brian Kelly said that the European banks are at risk of selling off because of the recent rally in those names. Deutsche Banke (XETRA: DBK-DE) , Credit Suisse (Swiss Exchange: CSGN-CH) and UBS (Swiss Exchange: UBSG-CH) are all up double digits in the last week. Kelly said he may be looking to increase his short positions in those stocks. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso Steve Grasso is long BA, CC, EVGN, GDX, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, UA. Steve Grasso's Kids are long EFA, EFG, EWJ, IJR, SPY. Stuart Frankel & Co Inc. and some of its Partners are long AAPL, AMZN, AVP, CUBA, CVX, DAL, FCX, HSPO, IBM, ICE, KDUS, KO, LDP, LUV, MAT, MCD, MJNA, NE, NEM, NXTD, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, UAL, URI, VALE, WDR, WYNN, ZNGA. Brian Kelly Brian Kelly is long Bitcoin, GLD, SFK, SLV, TLT, US Dollar UUP. He is short CS, DB, UBS Story continues Dan Nathan Dan Nathan is BABA June/Aug put spread, JD Call spread Long PFE, Long TWTR, IWM long Sept put, XLF long Sept Put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long TLT Sept risk reversal, XLV July calls, long C Sept puts, VZ July August put spread. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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 (IBM.N), 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 programmer Vitalik Buterin. "We're very excited about Ethereum. There has been a tonne 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 capitalisation 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. Story continues 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 licence 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) || New York approves Ripple Lab's application for bitcoin license: By Patrick Rucker and Suzanne Barlyn WASHINGTON (Reuters) - New York state's financial regulator on Monday approved a license for bitcoin company Ripple Labs Inc, allowing it to offer digital currency services in the state. The New York State Department of Financial Services said the company had cleared a review of anti-money laundering, capitalization, consumer protection, and cyber-security standards. "DFS is pleased to continue to foster the growth of the New York virtual currency marketplace," Acting Department of Financial Services Superintendent Maria T. Vullo said in a statement. Bitcoin is a Web-based "cryptocurrency" that enables users to move money around the world quickly and anonymously without the need for third-party verification. Despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges. Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense." Ripple filed for the license under its corporate name, XRP II LLC, a venture backed by Andreessen Horowitz, Google Ventures and IDG Capital Partners. (Reporting By Patrick Rucker and Suzanne Barlyn; Editing by Alan Crosby)
[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO = 0.00001000 BTC
= 0.0045 USD
= 0.8957 NGN
= 0.0683 ZAR
= 0.4530 KES
#Kobocoin 2016-05-13 16:00 pic.twitter.com/pU964nuJSR || What is Bitcoin? Getting started with Bitcoin is easy. https://www.weusecoins.com/en/getting-started/ … via @WeUseCoins || In the last 10 mins, there were arb opps spanning 8 exchange pair(s), yielding profits ranging between $0.00 and $772.29 #bitcoin #btc || $441.86 #coinbase;
$441.00 #btce;
$440.64 #bitstamp;
$439.64 #bitfinex;
Prices & News: http://bit.ly/1VI6Yse
#bitcoin #btc || 1 KOBO = 0.00000999 BTC
= 0.0059 USD
= 1.6668 NGN
= 0.0861 ZAR
= 0.5971 KES
#Kobocoin 2016-06-23 08:00 pic.twitter.com/sQ8CYxO46Z || #CannaCoin #CCN $ 0.008008 (-4.51 %) 0.00001391 BTC (-4.00 %) || Bitstamp: $692.87/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 725.00, low: 636.24) #bitcoin #BTC http://bitcoinautotrade.com || Retweeted LTCBTC (@LTC_BTC):
0.00902 (16:00 UTC) || #UFOCoin #UFO $ 0.000020 (3.85 %) 0.00000003 BTC (-0.00 %) || LIVE: Profit = $490.32 (6.25 %). BUY B18.96 @ $420.00 (#VirCurex). SELL @ $441.76 (#BitStamp) #bitcoin #btc - http://www.projectcoin.org
|
Trend: down || Prices: 677.33, 640.56, 666.52, 650.96, 649.36, 647.66, 664.55, 654.47, 658.08, 663.26
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-03-14]
BTC Price: 416.44, BTC RSI: 50.74
Gold Price: 1244.40, Gold RSI: 57.17
Oil Price: 37.18, Oil RSI: 60.59
[Random Sample of News (last 60 days)]
Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) -Celltick, a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider,Cable & Wireless Communications(C&W) (LSE:CWC). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets.
Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen.
"Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid.
"We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product."
Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries.
About Cable & Wireless Communications
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About Celltick
Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visitwww.celltick.com. || This student-loan startup says it has the killer feature to beat big lenders: As you've followed the 2016 presidential campaign cycle, you've no doubt heard mention of the student debt crisis. Earnest , a lending startup that refinances student loans and originates personal loans, thinks it can help. Loan-refinancing may not seem like the sexiest corner of fintech, but it has very recently become very hot: SoFi (Social Finance), which provides student loans, mortgages and other kinds of loans, scored a $1 billion investment from Softbank in September. The startup advertised during the Super Bowl in February. Smaller startups like Zest Finance use big data to aid underwriting for big lenders, while CommonBond focuses on re-financing. Marketplaces like Lending Club ( LC ) and Lending Tree ( TREE ) still advertise heavily as the best places to shop for loans. And all of these newer players claim they have the technology to compete with massive incumbents like Sallie Mae ( SLM ), Wells Fargo ( WFC ) and JPMorgan ( JPM ). Earnest CEO Louis Beryl says his company has the best strategic advantage of all: its recently launched precision pricing. The tool allows an Earnest customer to select any monthly payment on a loan and change it on the fly; the interest rate will adjust to match. That might sound like the kind of simple function that anyone with a student loan should have been able to do already, but no other lenders yet offer it. A traditional lender provides limited choices for the repayment period—typically five, 10, or 15 years' time. An Earnest customer, using a slider on Earnest's web site, can tweak the monthly payment they want to make to, say, $1,000 a month, and Earnest will react accordingly. "$1,000 a month might mean a 10-and-a-half year loan, not a 10-year loan or a 15-year loan," Beryl says. "We'll give that person the interest rate that corresponds to a 10-and-a-half-year loan." Beryl launched Earnest in 2013. He got the idea for the company after experiencing his own frustrations when he was denied loans in grad school. "I remember thinking, 'Why weren't financial institutions taking the time to understand me more deeply?' And we had a massive technology disruption where all of our accounts were online now." He jumped on the opportunity. Now Earnest is growing so fast that it originated 50 times as many loans in 2015 as it did in 2014. More than 40 million Americans have at least one student loan. Story continues It wasn't so long ago that if you were a student with a loan who wanted to pay more this month than usual, you had to fill out an elaborate form and snail-mail it to the lender just to have the privilege of paying. Behavior has shifted, Beryl says. In an era of mobile banking, young people are attuned to doing their banking without the face-to-face interaction that traditionally would have been involved in something as weighty as refinancing a loan. Earnest, for now, has no app, but will launch one this year. Earnest says that with its precision pricing tool, clients have saved an average $17,936 after refinancing. But eager fintech-savvy student borrowers, beware: Refinancing isn't for everyone. As Yahoo Finance's Mandi Woodruff has warned , refinancing a student loan can be the wrong move in some cases. Remember that if you lower your monthly payment, it will give you more flexibility -- which is especially helpful if you're having trouble repaying the debt -- but you'll also be extending your loan term and end up paying more over the life of the loan . -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: This app wants to be the social network of the future-- literally Here's how you can invest in the blockchain Facebook, Amazon, and Google all want to stream NFL games Here's a sign that PayPal is embracing Bitcoin || Australia's ASX invests in blockchain to simplify markets: SYDNEY (Reuters) - Markets operator ASX Ltd on Friday said it has made a minority investment in U.S.-based Digital Asset Holdings to develop distributed ledger technology, or blockchain, to potentially simplify Australias post-trade equity market. Blockchain technology, pioneered by Bitcoin, maintains a continuously growing list of transaction data which cannot be tampered with or revised. ASX paid A$14.9 million ($10.43 million) for a 5.0 percent equity interest in Digital Asset along with funding an initial phase of development and acquiring a warrant that will give it the right to purchase further equity and appoint a director to the board. ASX will work with Digital Asset to design a new post-trade solution for the Australian equity market, it said in a statement on Friday. Over the past year, interest in blockchain technology has grown rapidly. It has already attracted significant investment from many major banks, which reckon it could save them money by making their operations faster, more efficient and more transparent. (Reporting by Swati Pandey) || Safe Cash Speeds up Blockchain to 25,000 Transactions per Second: SAN FRANCISCO, CA--(Marketwired - Feb 24, 2016) - Safe Cash ( www.safe.cash ), a digital payment technology for banks, merchants, and consumers, has announced that it is able to handle up to 25,000 transactions per second on its blockchain -- more than 3,000 times as many as Bitcoin. The time to complete and final settlement is under five seconds. This makes Safe Cash the fastest private blockchain, orders of magnitude ahead of competing private blockchains that are simple forks of bitcoin or litecoin. "Because of its slow consensus time, uncertain governance, and price volatility, Bitcoin is not a reasonable solution for banks, and it's not built to scale for massive adoption of instant e-commerce," said Chris Kitze, founder and CEO of Safe Cash Payment Technologies. "No open-source software can touch this performance. Our development team worked for the past eighteen months to solve a number of critical technical problems. It is not trivial. We also have a clear technical path to increase this speed to 100,000 transactions per second later this year, well in advance of that kind of global demand." In an era of permissioned blockchains gaining favor with financial institutions over decentralized, freely trading cryptocurrencies like Bitcoin, Ethereum, or Ripple, Safe Cash is one of the first blockchains to be commercially viable that can meet the transaction processing speed and throughput requirements of today's market. Safe Cash employs instant settlement in under five seconds, improved security, and controlled consensus that does not rely on miners or any intermediary coin that must be purchased. It allows banks to wean themselves off the high-priced, inefficient SWIFT network that can take days to transfer money. Banks can have their own "white label" blockchain that they control and manage. Inter-bank settlement can be achieved with multi-currency wallets, a separate bank settlement blockchain, or a combination thereof, depending on bank requirements and legal compliance. Story continues A demonstration of this technology is freely available at https://safe.cash , where the public is invited to get a free account to test out Safe Cash's loyalty token. Banks are invited to internally proof-of-concept test Safe Cash. About Safe Cash Payment Technologies, Inc. Founded in 2015, Safe Cash is the first payment system to allow cash to be used as a digital asset, with member banks storing the USD and providing tokens that are redeemable for cash. The system is designed to work globally and on most phones. All product and company names herein may be trademarks of their registered owners. || New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || REUTERS AMERICA NEWS PLAN FOR TUESDAY FEB 2: REUTERS AMERICA MIDDAY NEWS PLAN FOR TUESDAY FEB 2
LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET)
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TOP STORIES
Cruz calls Iowa win a victory for 'conservative grass roots'
DES MOINES - Relishing his victory in the first Republican nominating contest of the U.S. presidential election, Senator Ted Cruz called his defeat of Donald Trump in the Iowa caucuses a tribute to "conservative grass roots." (USA-ELECTION/ (WRAPUP 5, PIX, TV, GRAPHIC), moved at 10:33 a.m., by Ginger Gibson, 636 words). See also: USA-ELECTION/TRUMP (PIX, TV), moved at 7 a.m., by Steve Holland, 765 words and USA-ELECTION/RUBIO (PIX), moved at 7 a.m., by James Oliphant, 586 words)
Virtual tie raises doubts: Can Hillary Clinton close the deal?
DES MOINES, Iowa - Hillary Clinton's struggle in Iowa to fend off underdog Bernie Sanders, a self-described democratic socialist, reignited questions about her ability to close the deal with Democratic voters and turned up the pressure on her high-profile White House campaign. USA-ELECTION/DEMOCRATS (PIX, TV), moved at 7 a.m., by John Whitesides, 718 words.
FBI joins Flint, Michigan water contamination probe
WASHINGTON - The FBI is joining a U.S. criminal investigation into Flint, Michigan's water contamination crisis, a spokeswoman for the U.S. Attorney's Office in Detroit said on Tuesday. (MICHIGAN-WATER/ (UPDATE 2), moved, 599 words)
Punxsutawney Phil predicts early spring
PUNXSUTAWNEY, Pa. - Punxsutawney Phil, the Pennsylvania groundhog renowned for his ability to forecast the onset of spring, did not see his shadow after emerging from his burrow on Tuesday morning, predicting an early spring. (USA-GROUNDHOG/ (UPDATE 1, PIX, TV), moved at 7:54 a.m., 497 words)
Africa, Asia vulnerable to spread of Zika virus -WHO
GENEVA - The Zika virus linked to a microcephaly outbreak in Latin America could spread to Africa and Asia, with the world's highest birth rates, the World Health Organization warns as it launches a global response unit against the new emergency. (HEALTH-ZIKA/ (UPDATE 1, TV, PICTURE), moved, by Stephanie Nebehay, 305 words). See also: HEALTH-ZIKA/OLYMPICS, moved, 100 words and HEALTH-ZIKA/AUSTRALIA, moved, by Jane Wardell, 380 words
Nine migrants, including two babies drowned off Turkish coast- coastguard
ISTANBUL - Nine people, including two babies, are found drowned off the coast of western Turkey after a boat carrying people to Greece partly capsizes, the coast guard says. (EUROPE-MIGRANTS/TURKEY (UPDATE 1), moved, 181 words)
PM resigns as Haiti scrambles for interim government before deadline
PORT-AU-PRINCE - Haiti's prime minister has resigned, government sources said, in an attempt to clear the way for a temporary government to replace outgoing President Michel Martelly after a botched election and violent street protests last month. (HAITI-ELECTION/ (UPDATE 2, TV, PIX), moving shortly, 391 words)
Bill Cosby fighting sex assault charge in Pennsylvania court
NORRISTOWN, Pa. - Bill Cosby appeared at a suburban Philadelphia courthouse on Tuesday to fight sexual assault charges, which his lawyers say violate a decade-old agreement with a former district attorney not to prosecute the disgraced comedian. (PEOPLE-COSBY/ (UPDATE 3, PIX, TV), moved, 485 words)
CAMPAIGN
Bernie Sanders shows strong momentum on social media
NEW YORK - It may be too close to call between Democratic presidential candidates Hillary Clinton and Bernie Sanders in the Iowa caucuses on Monday but the senator from Vermont was the clear winner on social media. (USA-ELECTION/SOCIALMEDIA (UPDATE 3, PIX), moved, 370 words)
Cruz's Iowa victory could be big blow to Big Corn
NEW YORK - Ted Cruz's victory on Monday in corn-rich Iowa could represent a major blow to the nation's controversial biofuels program, reflecting its waning influence over politicians even in the U.S. farming heartland. (USA-ELECTION/ETHANOL (UPDATE 1, PIX), moved, 670 words)
WASHINGTON
Pentagon's 2017 budget reshapes spending amid changing security environment
WASHINGTON - Defense Secretary Ash Carter said on Tuesday the Pentagon would seek a $582.7 billion defense budget next year and reshape its spending priorities to reflect a new strategic environment marked by Russian assertiveness and the rise of Islamic State. (USA-DEFENSE/BUDGET (UPDATE 1, PIX, TV), moving shortly, 404 words)
U.S. military leaders: women should have to register for draft
WASHINGTON - U.S. armed forces leaders said on Tuesday that women should be required to register for the military draft, along with men, as the military moves toward integrating them fully into combat positions. (USA-MILITARY/WOMEN (UPDATE 1, PIX), moved, 390 words)
IS pushed back in Iraq, Syria, but a threat in Libya -Kerry
ROME - An international coalition is pushing back Islamic State militants in their Syrian and Iraqi strongholds but the group is threatening Libya and could seize the nation's oil wealth, U.S Secretary of State John Kerry says. (MIDEAST-CRISIS/COALITION (UPDATE 1, PICTURE, TV), moved, by Arshad Mohammed, 590 words). See also: MIDEAST-CRISIS/IRAQ-IS (INSIGHT, PICTURE), moved, by Samia Nakhoul, 1,515 words
New European, U.S. data transfer pact imminent - sources
BRUSSELS - European and U.S. negotiators are on the brink of clinching a new transatlantic data transfer pact which should prevent EU regulators from restricting data transfers by firms, two people familiar with the talks say. (EU-DATAPROTECTION/USA (EXCLUSIVE, UPDATE 2), moved, by Julia Fioretti, 525 words)
China defends law enforcers as U.S. calls for clarity on booksellers
BEIJING/WASHINGTON - China's Foreign Ministry says its law enforcement officials will never do anything illegal, especially not overseas, after the United States calls on China to clarify the status of five missing Hong Kong booksellers. (HONGKONG-BOOKSELLERS/USA (UPDATE 1, TV), moved at 5 a.m., 430 words)
OTHER U.S. NEWS
Leader of Oregon occupation to appear in court
PORTLAND, Ore. - Ammon Bundy, who led a group of armed protesters in the occupation of a wildlife refuge in remote Oregon, will appear in federal court in Portland where his attorneys will argue that he should be released on bail ahead of his trial. (OREGON-MILITIA/COURT, expect by 3 p.m. 400 words)
White Michigan ex-cop to be sentenced in beating of black motorist
DETROIT - A white former suburban Detroit police officer is scheduled to be sentenced on Tuesday for the beating last year of a black motorist during a traffic stop caught on video. (MICHIGAN-POLICE/SENTENCE, moved at 9:28 a.m., 221 words, will be led)
Controversial Detroit school manager to step down this month
DETROIT - Detroit Public Schools' emergency manager Darnell Earley is stepping down later this month, Michigan Governor Rick Snyder said on Tuesday. (DETROIT-EDUCATION/ (UPDATE 1), moving shortly, about 400 words)
Ferguson, Mo., to hear from public on proposed justice reforms
FERGUSON - Residents of Ferguson, Missouri, which has a proposed agreement with the U.S. Justice Department to reform its police department after the 2014 shooting by a white officer of a black teenager, will voice their opinions on the deal at a meeting on Tuesday night. (MISSOURI-FERGUSON/, moved at 1019 am ET, 270 words)
Georgia to execute its oldest death row inmate for 1979 murder
ATLANTA - A 72-year-old man convicted of murdering a convenience store manager in a 1979 robbery in Atlanta's suburbs is set to be executed on Tuesday in Georgia. (USA-EXECUTION/GEORGIA (PIX), moved at 7 a.m., 281 words)
Three teenagers arrested in fatal shooting at Seattle homeless camp
-- Three teenagers were arrested on Monday in connection with a shooting at a Seattle homeless encampment where two people were killed and three wounded, police said. (SEATTLE-SHOOTING/, moved, 181 words)
Teacher arrested in Southern California jail escape freed
LOS ANGELES - A teacher arrested in connection with the escape of three inmates from a Southern California jail was freed from custody on Monday after prosecutors said they did not have enough evidence to charge her with a crime. (CALIFORNIA-ESCAPE/ (UPDATE 1), moved at 11:45 p.m., 383 words)
SUPER BOWL
Super models, super heroes add up to Super strange Media Day
SAN JOSE - Media Day was transformed into Opening Night for Super Bowl 50 but the switch to prime time did nothing to change the zany tone as super models and super heroes mingled with giants of sports journalism. (NFL-SUPERBOWL/MEDIA (PIX), moved at 2:15 a.m., 397 words)
Newton shows serious side at media night
SAN JOSE - Cam Newton became known for his on field celebrations during the Carolina Panthers march to Super Bowl 50, but the quarterback says preparation is what brings him real joy. (NFL-SUPERBOWL/NEWTON (PIX), moved at 2:20 a.m., 368 words)
Broncos' Manning says no decision yet on retirement
SAN JOSE - Denver Broncos quarterback Peyton Manning said on Monday he has not yet decided whether he will retire following Super Bowl 50 and that he is strictly focused on winning his second NFL championship. (NFL-SUPERBOWL/MANNING (PIX), moved, 360 words)
MIDDLE EAST
Syrian army threatens to encircle Aleppo as talks falter
BEIRUT/AMMAN/GENEVA - A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday while the warring sides said peace talks had not started despite a U.N. statement they had. (MIDEAST-CRISIS/SYRIA (WRAPUP 3, TV, PICTURE), moved, by Tom Perry, Suleiman Al-Khalidi and John Irish, 1,059 words)
Iraqis running out of food and medicine in besieged Falluja
BAGHDAD - Tens of thousands of trapped Iraqi civilians are running out of food and medicine in the western city of Falluja, an Islamic State stronghold under siege by security forces. (MIDEAST-CRISIS/IRAQ-FALLUJA (UPDATE 2), expect by 1530 GMT/10,30 AM ET, by Stephen Kalin, 900 words)
Jordan needs international help over refugee crisis-King Abdullah
LONDON - King Abdullah says Jordan needs long-term aid from the international community to cope with a huge influx of Syrian refugees, warning that unless it received support the "dam is going to burst". (MIDEAST-CRISIS/JORDAN, moved, 320 words)
WORLD
Proposal unveiled to keep Britain in EU, sceptics unmoved
LONDON/BRUSSELS - European Council President Donald Tusk presents proposals for keeping Britain in the European Union to a mixed response, underlining the challenges Prime Minister David Cameron faces to win over his people and other EU leaders. (BRITAIN-EU/ (UPDATE 4, PICTURE), expect by 1530 GMT/10.30 AM ET, by Elizabeth Piper and Jan Strupczewski, 900 words)
Socialists ready to lead talks to form government in Spain
MADRID - The leader of Spain's Socialists offers to lead talks between parties to form a government in a bid to break political deadlock and avoid a new national election in the next few months. (SPAIN-POLITICS/ (UPDATE 2, PICTURE, TV), expect by 1900 GMT/2 PM ET, by Julien Toyer and Blanca Rodriguez, 500 words)
Cuba open for business, ministers tell French executives
PARIS - Cuba seeks to drum up foreign investment as ministers on a state visit to Paris promise French business leaders that the Communist-run country is open for business. (CUBA-FRANCE/, moved, 280 words)
China's nuclear envoy in North Korea amid sanctions push
SEOUL - China's envoy for the North Korean nuclear issue arrives in the capital, Pyongyang, the North's KCNA news agency reports, amid a push by the United States and South Korea for tougher sanctions on the North after its fourth nuclear test. (NORTHKOREA-NUCLEAR/CHINA, moved, 370 words)
EU to step up checks on Bitcoin, prepaid cards to fight terrorism
BRUSSELS - The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released show. (EU-TERRORISM/FINANCING (PICTURE), moved, by Francesco Guarascio, 464 words)
North Norea notifies IMO of planned satellite launch
SEOUL - North Korea has notified the International Maritime Organization of plans to launch a satellite between Feb. 8 and Feb. 25, South Korea's Yonhap News Agency reported late on Tuesday. (NORTHKOREA-SATELLITE/ (UPDATE 1), moving shortly, 150 words)
Australia PM weighs early poll to break political deadlock
SYDNEY - Australian Prime Minister Malcolm Turnbull raises the possibility of dissolving both houses of Parliament and calling an early election to break a political deadlock that has stymied the government, say government officials aware of the matter. (AUSTRALIA-POLITICS/ELECTION, moved, 430 words)
India's Supreme Court will review law criminalising gay sex
NEW DELHI - India's top court says it will review a decision over whether to uphold a colonial-era law that criminalises gay sex in a victory for homosexual rights campaigners at a time when the nation is navigating a path between tradition and modernity. (INDIA-COURT/ (UPDATE 2, PICTURE, TV), moved, by Aditya Kalra and Andrew MacAskill, 410 words)
HEALTH AND SCIENCE
Long shifts for young surgeons don't threaten patient safety
-- Controversial rules that limit the hours young surgeons can work while in training aren't needed to protect patient safety, a nationwide experiment finds. (HEALTH-SURGERY/RESIDENT-HOURS, moved, 753 words)
ENTERTAINMENT AND LIFESTYLE
Britain's James Corden to host 2016 Tony Awards
NEW YORK - British actor James Corden will host the Tony Awards for theater for the first time at a ceremony in New York in June, organizers announced on Tuesday. (AWARDS-TONYS, moved, 186 words)
Baggy but futuristic looks kick off NY men's fashion week
NEW YORK - Following a successful debut in July, New York hosts its second menswear fashion week, with dozens of established fashion names as well as new designers showcasing their autumn/winter offerings - from slick suits to more casual wear. (FASHION-NEWYORK/MEN (TV), expect by noon, 238 words)
CONSUMER TECH
Spin-off or sale? Yahoo turnaround plan in focus as earnings awaited
SAN FRANCISCO - Yahoo Inc's plans to turn around its struggling core business are set to dominate its earnings report after the bell on Tuesday, with investors keen to see if CEO Marissa Mayer will push ahead with a proposed spin-off or entertain calls for a complete sale. (YAHOO-RESULTS/PREVIEW, moved at 7 a.m., 355 words)
Lower costs nudge Nintendo's profit higher
TOKYO - Japan's Nintendo reported a 5.3 percent increase in third-quarter operating profit, in line with analysts forecasts, as lower costs helped offset a decline in overall sales. (NINTENDO-RESULTS/, moved at 2:30 a.m., 134 words)
BUSINESS TRENDS
Fearing lean times, U.S. companies tighten purse strings
NEW YORK - The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. (USA-RESULTS/CAPEX (ANALYSIS), moved, 600 words)
A new global oil deal could draw lessons from 1998
LONDON - After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. (OPEC-RUSSIA/DEAL (ANALYSIS, PIX), moved, 1,345 words) See also: GLOBAL-OIL/ (UPDATE 6), moved, 365 words
BUSINESS AND MARKETS
ChemChina close to striking deal for Syngenta -sources
China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for $42.2 billion, two people familiar with the matter say, two people familiar with the matter say. (SYNGENTA AG-M&A/CHEMCHINA (UPDATE 3), moved, Arno Schuetze and Pamela Barbaglia, 350 words)
Exxon's profit tumbles 58 percent, slashes capex by one-quarter
Exxon Mobil Corp reports its smallest quarterly profit in more than a decade and says it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices. (EXXON MOBIL-RESULTS/ (UPDATE 2), moved, by Anna Driver, 340 words)
GM January U.S. sales up slightly, Ford's down
DETROIT - U.S. auto sales appeared to fare better than expected in January, early returns show, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. (USA-AUTOS/ (UPDATE 2), moved, Bernie Woodall, 410 words)
Dow Chemical CEO Liveris to step down by mid-2017
Dow Chemical Co Chief Executive Andrew Liveris said he will retire from the company by mid-2017, months after activist investor Daniel Loeb called upon him to step down from the company, which is merging with rival DuPont. (DOW-RESULTS/ (UPDATE 4), moving shortly, by Amrutha Gayathri and Swetha Gopinath, 400 words)
Stocks snap winning streak as oil pressure returns
LONDON - World stocks end three days of gains as lackluster global economic data lead to another slump in oil prices. (GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day, 600 words). See also: USA-STOCKS/ (UPDATE 3), updated throughout the day, 460 words)
Oil slides more than 5 percent as hopes for output cut fade
LONDON - Brent oil falls more than 5 percent, while U.S. crude slides below $30 per barrel, on worries about future demand and rising supply, while hopes for a deal between OPEC and Russia on output cuts fade. (GLOBAL-OIL/ (UPDATE 9), updated throughout the day, 460 words)
Low metals prices sink zinc producer Horsehead Holding Corp
WILMINGTON, Del. - U.S. zinc miner Horsehead Holding Corp files for bankruptcy protection, becoming the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. (HORSEHEAD HLDG-BANKRUPTCY/, moved, by Tom Hals, 320 words)
Argentina says reaches provisional debt deal with Italian creditors
BUENOS AIRES - Argentina has reached a preliminary deal with a group of Italian creditors who hold 30 percent of unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay says. (ARGENTINA-DEBT/ (UPDATE 1), moving shortly, 300 words)
Brazil industrial output plunges 8 percent in 2015
BRASILIA - Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty. (BRAZIL ECONOMY/INDUSTRY (UPDATE 1), moved, by Silvio Cascione, 300 words)
German jobless rate falls to lowest on record
BERLIN - German unemployment fell more sharply than expected in January and the jobless rate dropped to a record low, suggesting private consumption will help offset a slowdown in emerging markets to keep growth in Europe's largest economy steady. (GERMANY-ECONOMY/UNEMPLOYMENT (UPDATE 1), moved, 290 words)
Alphabet overtakes Apple in market value - for now
Alphabet Inc might win the market cap battle against Apple Inc, but will it win the war? Maybe not. (APPLE-ALPHABET/RESEARCH (UPDATE 1), moved, by Sayantani Ghosh and Supantha Mukherjee, 510 words)
Pfizer 2016 forecasts disappoint; shares fall
U.S. drugmaker Pfizer Inc forecasts 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. (PFIZER-RESULTS/ (UPDATE 3), moved, 350 words)
UPS fourth-quarter profit surges, gives robust outlook
CHICAGO - United Parcel Service Inc reports a significantly higher quarterly net profit on a solid holiday season performance and gives a solid earnings outlook for 2016 despite warning of uncertain economic conditions. (UPS-RESULTS/ (UPDATE 1), moved, 330 words)
*****************
For story queries, please contact us.general- news@thomsonreuters.com
For photo queries use USCanada-Pictures-Editors@thomsonreuters.com) ***************** || C&W Business Earns Fortinet Platinum Partner Recognition: MIAMI, FL--(Marketwired - Feb 22, 2016) -C&W Business, part of Cable & Wireless Communications, Plc (CWC), today announces it has been recognized as aFortinetPlatinum Partner. To receive Platinum status, C&W Business demonstrated that it had successfully achieved all Fortinet certification requirements and training programmes needed to deliver the highest levels of partnership, performance and commitment. As a certified Platinum partner, C&W Business are experts in delivering Fortinet's superior, next generation multi-threat security solutions to their customers across the Caribbean and Latin American region.
C&W Business has a proven track record of delivering managed security services over a vast range of advanced security technologies, such as Web Application Firewall, Email Security, DDOS protection, Advanced Persistent Threat protection, among others. C&W Business offers unparalleled skills in the region, with local resources across 26 countries and experts with the highest certification levels across the board. C&W Business has successfully deployed complex security solutions, using Fortinet's technology, in large and medium companies from a number of different sectors -- including Banking, Retail, Government and BPO.
"This recognition as a Platinum Partner highlights our dedication to be the most complete ICT Solutions provider in the Caribbean and Latin American region. Security is a topic that is high in CIO's minds and we take that very seriously," said Daniel Peiretti, SVP Product Development, C&W Business. "We have focused in hiring and certifying security experts and giving them the tools necessary to ensure our customers enjoy peace of mind with their network," added Peiretti.
Security threats are on the rise so corporations and government agencies alike must do everything to protect their networks and their data. C&W Business employs security experts in their Security Operation Centers (SOC) throughout the region to monitor their network 24X7X365.
"We are excited to recognize C&W Business as a Platinum Partner, based on their strong commitment to delivering innovative solutions that drive customer success," said Pedro Paixao, General Manager, Latin America, at Fortinet. "C&W Business plays an important role in transforming customers, across multiple industries, into more agile, connected and secure companies that can rest assured their most important assets and the assets of their end-users are protected."
About Cable & Wireless Communications PlcCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About FortinetFortinet (NASDAQ:FTNT) helps protect networks, users and data from continually evolving threats. As a global leader in high-performance network security, we enable businesses and governments to consolidate and integrate stand-alone technologies without suffering performance penalties. Unlike costly, inflexible and low-performance alternatives, Fortinet solutions empower customers to embrace new technologies and business opportunities while protecting essential systems and content. Learn more atwww.fortinet.com, or follow Fortinet at theFortinet Blog,Google+,LinkedinorTwitter.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2967158 || This Country Has Gone Nearly 25 Years Without a Recession: They called it Super Tuesday in America, but it was the Australian economy that won the day. The Australian Bureau of Statistics announced that its economy grew at an annualized rate of 3.0% in the fourth quarter of 2015, above the estimates of economists who predicted that the Aussie economy would be more negatively affected by the economic slowdown in China. It also marked the 98th straight quarter that the Australian economy has avoided a recession. That’s right, Australia has gone almost 25 years without having two consecutive quarters of negative growth, the standard definition of a recession. As Business Insider Australia points out , this brings the Aussie’s close to the developed-world record held by the Netherlands, whose own streak of 103 straight quarters without a recession came to a halt during the global financial crisis. Australia has been able to avoid a recession because of its close ties to the Chinese economy. It’s wealth of natural resources and proximity to China made it the go-to supplier of China’s manufacturing boom. Although it’s been able to avoid being brought down by the Chinese slowdown thus far, many economists remain pessimistic. "We should be cautious given the poor quality of the growth, which was driven by a rise in government spending and household expenditure that relied on a run down in savings," said Andrew Ticehurst, rate strategist at Nomura, told the Financial Times. See original article on Fortune.com More from Fortune.com Australian Avocado Prices Soar as Supply Goes Pear-Shaped An Australian Family Rents an Airbnb That Turns Out to Be a Drug Den Ad Agency Defends Mocked 'Stoner Sloth' Anti-Marijuana Campaign Australian Police Have Raided the Home of Bitcoin's Supposed Creator Taylor Swift Takes Her 125-Person Crew on Vacation || Dividend stocks to watch in sluggish markets: After markets barely gained ground Thursday, "Fast Money" traders looked to dividend-paying stocks that could potentially boost returns.
Major U.S. averages finished slightly positive on the day, but the S&P 500(INDEX: .SPX)has fallen more than 6 percent this year. In that environment, some investors have started to search for yield.
"Fast Money" traders focused on stocks with steady recent performance and above-average yields, avoiding the oil industryas some companies trim dividends. Verizon(NYSE: VZ), which has climbed 9 percent this year and has a 4.5 percent dividend yield, looks appealing, said trader Karen Finerman.
Trader Guy Adami touted shares of toy maker Mattel(NASDAQ: MAT), which have climbed 18 percent this year, boosted by stronger-than-expected fourth-quarter earnings. The stock also rose Thursday amid reports that it held talks with Hasbro(NASDAQ: HAS)about a possible merger.
Mattel has a yield of 4.8 percent.
Traders Brian Kelly and Steve Grasso looked to tobacco company Philip Morris(NYSE: PM), which has a yield of 4.6 percent. The stock has ticked 1 percent higher this year, but Kelly believes it has more room to run.
Disclosures:
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Karen Finerman
Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International.
Steve Grasso
Steve is Long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CXO, OXY, BP, CVX, RIG kids own EFA, EFG, EWJ, IJR, SPY
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
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• Personal Finance || Digatrade Executes Joint-Venture with BitCarats: Exclusive Digital Asset Development & Exchange Listing Agreement
VANCOUVER, BC / ACCESSWIRE / February 10, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset-currency exchange DIGATRADE(TM) (digatrade.com) today announced the execution of an exclusive asset-backed digital currency development and platform exchange listing agreement with BitCarats Capital Inc. Under terms of the agreement Digatrade, along with BitCarats Capital, will develop Caratscoin, the world's first diamond-backed digital-asset powered by blockchain.
“Caratscoin will be the first asset-backed digital currency listed on the trading platform, an innovation that will include additional asset-backed crypto-currencies in the future," stated Brad Moynes, CEO of Digatrade. In collaboration with BitCarats Capital and financial technology partners (ANX Technologies), Caratscoin will be powered by secure blockchain technology - the world's first paired with Bitcoin as well as direct purchase via Digatrade multi-fiat currency order-book including US dollars and Euros via Visa & MasterCard, along with eCheck and Interac within Canada.
A fully integrated, custom multi-signature Caratscoin digital wallet will be developed as a comprehensive solution, not only creating the Caratscoin, but adding value through features such as industry leading security architecture and encryption algorithms. Caratscoin owners issue the coin only if all authorized parties are present, the first to use this unique service which is unprecedented in the market. This system is most secure, as no one person has the only authority to issue the coin, considering the Caratscoin is designed to significantly increase in value in direct correlation to the appreciation in value of physical diamonds held in the company vault.
BitCarats Capital CEO & Founder Colin Ferguson stated, "Carats Diamond Investment, which will provide the distinctive collection of diamonds to back BitCarats, has more than 30 years' experience in the diamond business and is the nation's first direct distributor from the world famous Argyle Diamond Mine in Western Australia. We house the country's leading collection of Natural Fancy Coloured diamonds, featuring trending colours such as red, vivid blues and champagnes." Ferguson continued, "Caratscoin will not only provide a new virtual asset-class and store of value, but also offer our investors instant payment, prepaid debit cards and the ability to transfer an asset between end users instantly, at a low cost and on a decentralized network."Caratscoin will be backed by a pool of certified, Natural Fancy Coloured diamonds, primarily featuring red, vivid blue, and champagne colours. Each diamond is certified by the Geological Institute of America, the world's leading diamond educational resource, and home to the most advanced laboratories. The diamonds are insured by Lloyd's of London and stored at a private vault at The World Trade Center, 999 Canada Place, one of the most secure buildings in Vancouver, Canada. Founded and led by BitCarats CEO Colin Ferguson, Carats Diamond Investment (carats.com) is committed to exceptional diamond education, quality and customer service, and was recently recognized by the Better Business Bureau (BBB) when Carats was awarded with their highest rating of A+ since joining the BBB 16 years ago.
More information regarding this exciting new venture will be made available as it materializes.
ABOUT DIGATRADE:
DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide.
CORPORATE CONTACT INFORMATION:
Brad Moynes, CEOBit-X Financial CorpDigaTrade.com838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.digatrade.com
Media inquiries:press@digatrade.com
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE:Bit-X Financial Corp
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin Swaps! -- Gyft adds Walmart -- AuroraCoin Airdrop Begins! http://vid.staged.com/GWds #stagedpic.twitter.com/79FGNxNEFN || Liquid Bitcoin || Lightning’s Balancing Act: Challenges Face Bitcoin’s Scalability Savior http://goo.gl/kJ6sn6 http://ohiobitcoin.com/buybitcoin #bitcoin || Liquid Bitcoin || @onemanatatime @philfrancis77 it does look like it is floating, but Bitcoin doesn't look like it's going to break up this coming week || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $120.07 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000005
Average $1.9E-5 per #reddcoin
17:30:00 || Liquid Bitcoin || In the last hour, 7 people won 0.38 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Current #Bitcoin price: $432.47! Latest #BTC news at #LandBitcoin portal http://goo.gl/RNR1Cs
|
Trend: no change || Prices: 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2021-04-13]
BTC Price: 63503.46, BTC RSI: 67.14
Gold Price: 1746.20, Gold RSI: 52.51
Oil Price: 60.18, Oil RSI: 49.17
[Random Sample of News (last 60 days)]
Stock market news live updates: Stocks end mixed: S&P 500 and Nasdaq retreat from all-time highs while Dow sets record close: Stocks ended mixed on Tuesday, with the S&P 500 and Nasdaq pulling back slightly from all-time highs and the Dow setting a fresh record close.
[Click here to read what's moving markets heading into Wednesday, February 17]
Each of the three major indexes hit record intraday highs early on Tuesday before paring gains. U.S. stockstracked gains in European equities,after UK Prime Minister Boris Johnson said he was "hopeful" the country's stringent lockdown restrictions could be eased in the coming weeks as the vaccine rollout continues and new daily infections fall further.
Other risk assets also performed strongly. Bitcoin prices (BTC-USD)spiked to a fresh record high of more than $50,000, extending a meteoric rally after the cryptocurrency traded around $35,000 just a month ago. U.S. crude oil (CL=F) jumped above $60 per barrel and reached the highest level since January 2020. And the CBOE Volatility Index (VIX) declined further on Tuesday, after settling below 20 for the first time since February 2020 on Friday.
Over the past couple weeks, U.S. investors have considered prospects for additional fiscal stimulus alongside much better-than-expected fourth-quarter corporate earnings results across the board. Corporate earnings are on track to grow by about 2.9%, which would mark the first year-over-year increase in profits since the final quarter of 2019, according to FactSet. And on the fiscal stimulus front, lawmakers are racing to get another stimulus package done before amid-March lapse in federal unemployment benefits occurs after the last round of virus relief.
"Earnings season has provided proof of an earlier than expected rebound in corporate performance, and with fresh stimulus money likely to wing its way to the American population there is reason to expect further quarterly growth," Chris Beauchamp, chief market analyst at IG Group, said in an email. "Despite all the naysayers, global stock markets, led by the U.S., continue to make headway, and seem well-set to continue doing so."
Some strategists have also taken the contrarian view that the overwhelmingly positive catalysts as of late may be reason itself to take heed.
"[The] only reason to be bearish is…there is no reason to be bearish,” Michael Harnett, Bank of America Securities chief investment strategist,wrote in the firm's latest global fund managers' survey.
The survey, which involved polling 225 investors with $645 billion in assets under management between Feb. 5 to 11, showed that allocations to stocks and commodities had reached the highest levels since 2011, while cash levels were at an eight-year low. All things considered, Bank of America's proprietary "bull and bear indicator" tracking market sentiment rose to 7.7, closing in on the firm's 8.0 "sell" signal.
—
Here were the main moves in markets as of 4:02 p.m. ET:
• S&P 500 (^GSPC): -2.32 (-0.06%) to 3,932.51
• Dow (^DJI): +63.62 (+0.20%) to 31,522.02
• Nasdaq (^IXIC): -47.97 (-0.34%) to 14,047.50
• Crude (CL=F): +$0.69 (+1.16%) to $60.16 a barrel
• Gold (GC=F): -$27.60 (-1.51%) to $1,795.60 per ounce
• 10-year Treasury (^TNX): +9.9 bps to yield 1.2990%
—
U.S. crude oil prices extended a February rally to settle above $60 per barrel, the highest since the start of the pandemic.
The commodity prices have surged in recent days as ultra-cold temperatures across much of the U.S. pushed up demand for fuel and raised concerns about production in Texas. This compounded with increasing optimism over fuel demand as vaccine distribution enables more businesses and destinations to reopen later this year.
U.S. West Texas intermediate crude oil prices have risen more than 23% since the start of 2021, and have surged more than 60% since Pfizer and BioNTech first announced positive vaccine efficacy data in early November.
—
Here's where markets were trading shortly Tuesday afternoon:
• S&P 500 (^GSPC): +1.09 points (+0.03%) to 3,935.92
• Dow (^DJI): +68.83 points (+0.22%) to 31,529.02
• Nasdaq (^IXIC): -43.14 points (-0.31%) to 14,052.10
• Crude (CL=F): +$0.13 (+0.22%) to $59.60 a barrel
• Gold (GC=F): -$29.20 (-1.6%) to $1,794.00 per ounce
• 10-year Treasury (^TNX): +8.4 bps to yield 1.284%
—
With equities continuing to set fresh record highs, the S&P 500 could be due for a correction before ultimately tearing higher, according to at least one Wall Street firm.
"We still believe the market is ripe for a pullback, but the focus should remain on our core fundamental thesis and the global reflation theme. The Fed is focused on obtaining sustainably higher inflation, money availability remains historic, the economy is just in the beginning of a long-duration recovery, consensus EPS forecasts are still too conservative, and like 2010 any valuation contraction should be a result of a sharp EPS ramp rather than something more onerous," Canaccord Genuity analyst Tony Dwyer said in a note Tuesday.
"The macro backdrop and market action coming off the March 2020 low continues to track the gains coming out of the Great Financial Crisis, which means corrections may be coming followed by even more gains," he added. "Despite the prospect of a potential pullback, our investment themes remain in place given historic excess liquidity fueling a synchronized global recovery."
—
Here's where markets were trading shortly after the opening bell Tuesday morning:
• S&P 500 (^GSPC): +10.75 points (+0.27%) to 3,941.75
• Dow (^DJI): +108.00 points (+0.34%) to 31,505.00
• Nasdaq (^IXIC): +40.75 points (+0.3%) to 13,845.5
• Crude (CL=F): +$0.47 (+0.79%) to $59.94 a barrel
• Gold (GC=F): -$28.60 (-1.57%) to $1,794.60 per ounce
• 10-year Treasury (^TNX): +6.2 bps to yield 1.265%
—
Newly public data software company Palantir (PLTR)unexpectedly posted a loss in the final three months of 2020, surprisinginvestors who had been looking for the companyto end a streak of losses as more customers joined the platform during the pandemic. Palantir landed new contracts in the fourth quarter with companies including PG&E, BP and the U.S. Air Force.
The company's operating loss totaled $156.7 million in the three months ending in December. This was wider than the operating loss of $147.5 million the company posted in the same quarter last year. For the full year, operating losses were $1.12 billion versus $576 million in 2019. However, excluding stock based compensation and some other charges, Palantir swung to a profit of $189.9 million for the full year.
Fourth-quarter revenue grew 40% to $322 million, though this was slower than the company's overall sales growth rate of 47% for the full year. For the first quarter, Palantir said it expects revenue growth of 45%.
—
Here’s where markets were trading ahead of the opening bell:
• S&P 500 futures (ES=F): 3,951.5, up 20.5 points or 0.52%
• Dow futures (YM=F): 31,589.00, up 192 points or 0.61%
• Nasdaq futures (NQ=F):13,876.00, up 71.25 points or 0.52%
• Crude (CL=F): +$0.32 (+0.54%) to $59.79 a barrel
• Gold (GC=F): -$4.20 (-0.23%) to $1,819.00 per ounce
• 10-year Treasury (^TNX): +6.2 bps to yield 1.262%
—
Emily McCormick is a reporter for Yahoo Finance.Follow her on Twitter: @emily_mcck
Read more from Emily:
• Labor market weakness could last ‘for several years’ in pandemic’s wake: economist
• Credit Suisse boosts 2021 S&P 500 price target to 4,200 with more stimulus expected
• What happened in the economy in 2020
• These tech jobs may disappear in the face of automation || Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%: Bitcoin reached a new all-time high of $50,001.35 Tuesday morning, just days after breaking above $48,000 for the first time.
• The cryptocurrency’s latest pop pushes 2021 gains to 69%.
• Over $400 million inbitcoinfutures have been liquidated over the past 24 hours, according toBybt, with BTC rallying more than 5% over the same period.
• Bitcoin futures contracts on the Chicago Mercantile Exchange hit a high of $50,500.
• Bitcoin’s latest record high follows a flurry of institutional and corporate interest in the leading cryptocurrency.
• Last Monday,Teslabought $1.5 billion worth of bitcoin, which saw the digital asset’s price spike by almost $4,000, according to CoinDesk’s price index.
• Additionally, in just the past week, Twitter’s CFOsaidthe company is considering investing in bitcoin, BNY Mellonannouncedplans to custody cryptocurrency for its clients and PayPalconfirmedits plans to add crypto to its Venmo product.
• The overall crypto marketbroke $1.5 trillionfor the first time on Monday.
• Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%
• Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%
• Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%
• Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69% || Bitcoin Selloff Steadies as Traders Debate Potential BTC Whale Dump: By Yasin Ebrahim
Investing.com – The selloff in Bitcoin steadied Monday amid a heated debate in the cryptosphere on whether a large holder, or whale, was preparing to dump about billions of dollars worth of bitcoin, pushing down the price.
BTC/USD fell 5.6% to $56,383 after hitting a high of $61,468 on Sunday.
The latest selloff comes as a large initial crypto transfer of about 18,961 BTC bitcoin was spotted making a move on blockchain to an address that some speculate belong to a wallet on crypto exchange Gemini.
Large sums of BTC sloshing around the blockchain is not new, but history suggests that large inflows into Gemini triggers a sea of red.
Bitcoin whales have been growing in size and have often been the source of the blame for large unexplained moves in the cryptocurrency.
The bitcoin whale index, measures by the number of bitcoin addresses with at least 1,000 bitcoins, has been climbing and is approaching prior-record highs.
On-chain analytics from the research and analysis firm Glassnode showed that the number of bitcoin whales hit 2,164 last week, shy of a record 2,814 clusters achieved in September 2019.
Still, there are some who disagree the transaction was similar to prior external transfers to Gemini that has previously been linked with a "whale dumping" event. On-chain analyst, who uses the handle Willy Woo, pointed to data suggesting the nearly 19,000 BTC inflows were "fake," as traders using leveraged scrambled amid the sell-off.
Yet, whether this the transaction was internal or external, the latest selloff served as a reminder that wild-swinging assets and leverage don't mix well, when a trade goes awry.
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Can Bitcoin whale deposits to exchanges actually predict BTC price? || Former Chinese Government Minister: Country Is 30 Years Away From Top-Tier Manufacturing: A former high-ranking Chinese government minister has said that China is at least 30 years away from becoming a “great power” in the manufacturing sector.
What Happened:China has been the world’s dominant figure in manufacturing since 2010, according to United Nations data, with $4.8 trillion in industrial added value last year and a nearly 30% global share that is approximately equal to the combined share of the U.S., Germany and Japan.
China’s State Council Development Research Center issued a report in January that defined the nation as being in the third tier in a four-tier ranking system based on key criteria including innovation, quality and effectiveness, environmental factors and global competitiveness, according to a South China Morning Postreport.
In comparison, the U.S., Germany and Switzerland were in the top tier, while Japan, South Korea, Singapore and France were in the second.
In a speech before the Chinese People's Political Consultative Conference, the government’s leading advisory body, former Minister of Industry and Information Technology Miao Wei warned that while China reigns in terms of industrial supply chains and accounts for more than one-third of global manufacturing output, its industries’ dependence on U.S. high-tech products including semiconductors remains a strategic obstacle that needs to be overcome.
"Basic capabilities are still weak, core technologies are in the hands of others, and the risk of 'being hit in the throat' and having 'a slipped bike chain' has significantly increased," said Miao, who stepped down from his ministry post last year after a decade in office.
"The ratio of manufacturing output to GDP has been declining too early and too quickly, which not only weighs on economic growth and affects employment, but also brings security loopholes to our industries and diminishes our economy's ability to withstand risks, and its global competitiveness."
Related Link:Beyond Bitcoin: China's Publicly-Listed Beauty App Meitu Buys M Ethereum
What Happens Next:Miao said a lack of progress on market-oriented financial reforms including tax relief and a deficit of high-tech talent in manufacturing is keeping the sector from reaching its fullest potential.
"China's manufacturing industry has made great achievements in recent years, but the situation of being 'big but not strong' and 'comprehensive but not good' has not been fundamentally changed," he said.
"We must maintain our strategic resolve, stay clear-headed and deeply understand the gaps and deficiencies."
Miao, who is now vice chairman of the CPPCC’s economic committee, also acknowledged that China’s services sector has overtaken manufacturing as the nation’s main economic force, with 54.5% of its economic output last year coming from the services sector versus 37.8% from manufacturing.
“We should emphasize the strategic role and contribution of manufacturing and stabilize its share of the economy,” Miao said. “We should protect our most comprehensive manufacturing system and upgrade our self-reliance in industry and supply chains.”
Related Link:Tesla Reaches 6,000 Supercharger Installs In China
Miao Wei. Photo courtesy G20 Argentina/Creative Commons.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Rising Steel Demand? VanEck’s ‘SLX’ ETF Is All Ears: This article was originally published onETFTrends.com.
India and China could help stimulate steel prices with higher demand and keep theVanEck Vectors Steel ETF (SLX)trending upwards.
"Positive cues from China – which accounts for 56.5 per cent of global crude steel production – are likely to keep demand-supply in balance and provide support to prices," aBusiness Standard articlesaid. "All eyes have been on China, which opened last week after New Year holidays, as it was widely expected that prices would recover post-holidays after the weakness in January."
SLX tries to reflect the performance of the NYSE Arca Steel Index, which follows global companies involved in the steel industry. While more than a third of SLX’s lineup is allocated to U.S. steel producers, the ETF has aheavy global tilt, including exposure to ex-US developed markets and emerging markets steel companies.
“There are three messages coming out of China: an increased focus on moving towards green steel and reducing pollution, which would contain inefficient production," saidJayant Acharya, director (commercial & marketing), JSW Steel. "There is a move to contain exports (there is a possibility of reducing export rebates from 13 per cent to nine per cent) and a forecast that demand in China will rise slightly in 2021.”
“This will increase export prices to the extent of reduction in rebate and help bridge the gap between Chinese steel prices and the rest of the world. Also lower/ balanced exports would be good for the steel industry globally,” he added.
In the meantime, momentum is on the side of SLX. The fund is up almost 70% within the last six months. The fund is up about 13% this year.
Demand in India can also help support steel prices. The Business Standard article noted that, in India, "steelmakers expect demand to remain strong in the home market, even though prices had seen some pressure."
“In India, I am optimistic about demand prospects, being supported by macroeconomic growth. Newer segments are showing signs of recovery like commercial vehicles, yellow goods, infrastructure, etc.,” said Ranjan Dhar, chief marketing officer, AM/NS India.
“The signs of weakness in the trade segment were on account of traders trying to book profits on material brought in October, November and December. I think, by February-end, they should have reduced considerable inventory. I am not concerned as long as demand remains good,” he added.
For more news and information, visit theTactical Allocation Channel.
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READ MORE AT ETFTRENDS.COM > || Bitcoin Falls 4% as Fed’s Powell Sees ‘Concern’ Over Rising Bond Yields: Bitcoin’s price fell by the most in a week after Federal Reserve Chair Jerome Powell acknowledged he “would be concerned” by tightening financial conditions, as rising U.S. government-bond yields put upward pressure on borrowing costs.
The comments might signal more hesitation in providing fresh monetary stimulus. Bitcoin prices quadrupled last year and have rallied 66% this year on speculation the cryptocurrency could serve as an inflation hedge in the face of trillions of dollars of money printing by central banks around the world.
As of press time,bitcoinwas changing hands around $48,336, down about 4% on the day.
Related:Ethereum Improvement Proposal 1559 Officially Included In London Hard Fork
Powell said in a question-and-answer session with the Wall Street Journal he doesn’t expect higher inflation to persist and that the central bank is still “a long way from our goals” of an economic recovery and lower unemployment.
The yield on 10-year U.S. Treasury note climbed on Thursday above 1.5%, as disappointment spread among some traders in traditional markets who had bet the Fed might provide specifics on how to tamp down long-term interest rates,according to Bloomberg News.
For bitcoin traders who have been betting the cryptocurrency’s price is a good hedge against potential currency debasement, Powell’s comments offered few signs the Fed plans new dovish actions. Such moves might include expanding the U.S. central bank’s $120 billion-a-month bond-purchasing program.
“Powell did not deliver,” the cryptocurrency trader Alex Krugertweeted. “Basically repeated his usual dovish lines.”
Related:The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate
Stocks were lower on Thursday, also potentially reflecting dimmed expectations of more stimulus that might boost the equities market.
• Bitcoin Falls 4% as Fed’s Powell Sees ‘Concern’ Over Rising Bond Yields
• Bitcoin Falls 4% as Fed’s Powell Sees ‘Concern’ Over Rising Bond Yields || Tesla Stock Swings After COVID Breakout at Reopened Plant: Once considered a major Silicon Valley success story, Tesla’s valuation is experiencing major swings as the market reacts to problems at the company’s plant in Alameda County, California.The Washington Postreports the factory had around 450 COVID-19 cases between their reopening in May 2020 and the end of the year.
See:Elon Musk Loses Almost $50 Billion as Tesla Stock Drops by $277 BillionFind:Bitcoin Could Reach $1 Million, ‘Going to Infinity,’ Says Leading Crypto CEO
The new information comes fromlegal filing website PlainSite, after a court order. The information shows Tesla reported a total of 125 cases of COVID-19 among factory workers between May and December 2020. The health department has not released any additional information going into 2021.
This information also conflicts with Tesla’s internal data, revealed in another lawsuit against Tesla founder Elon Musk and the electric car company. Documents from that lawsuit —published by PlainSite— shows there may have been as many as 250 COVID-19 exposures per week during the summer of 2020. Neither Tesla nor the Alameda County Public Health Department have commented on the documents.
In addition, a fire at the plant will delay construction of a new annex for the factory. San FranciscoCBS affiliate KPIX-TVreports the blaze broke out in a vehicle stamping machine on Thursday, March 11, 2021. Firefighters were able to knock it down quickly, causing minimal damage. The cause of the fire is under investigation.
See:Elon Musk Alive, Well and Planning To Incorporate a City in TexasFind:Elon Musk Is Making a $150 Million Mistake with Bitcoin, According to This Economist
With the new allegations, the market is signaling their concerns over the company’s valuation. According toThe New York Times,the company has lost over $200 billion in market value since January. Although the stock opened higher on Monday, March 15, 2021, its single-share price is still over $170 lower than its all-time high of $880.
The data has also hurt the Tesla founder’s personal value as well.CNN reportsMusk’s personal value is down to $157 billion since Tesla shares continue to slide. In comparison,Celebrity Net Worthestimates Amazon founder Jeff Bezos is worth $183 billion, while Microsoft founder Bill Gates is worth $137 billion.
Estimated value aside, the serial entrepreneur continues to move forward in his own eccentric way. In a filing with theU.S. Securities and Exchange Commission, Musk gave himself a new title within the company: Technoking of Tesla.Moreover, he also dubbed chief financial officer Zach Kirkhorn “Master of Coin,” a possible reference toTesla’s purchase of $1.5 billion of the cryptocurrency Bitcoin.
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This article originally appeared onGOBankingRates.com:Tesla Stock Swings After COVID Breakout at Reopened Plant || Cryptocurrency Wallets For Beginners: 3 Must-Have Features: The following is a contributed article from a content partner of Benzinga As a beginner looking to store your cryptocurrencies, you may have already noticed that there are more than a few cryptocurrency wallet options — all promising to do something better than the rest. But how do you identify the wallets that genuinely offer the feature you want or need? Well, by using our handy checklist of course! If your cryptocurrency wallet offers all the features listed below, you’ve got yourself a keeper! Hardware-grade Security As a cryptocurrency holder, you benefit from the advantages that blockchain technology enables — such as incredible efficiency, self-sovereignty of your money, and the underlying appreciation of your cryptocurrency portfolio. But as opposed to using a bank, you are the custodian of your own funds, this means you are wholly responsible for ensuring your portfolio remains safe — this is the job of your cryptocurrency wallet. However, not all cryptocurrency wallets are created equal in this reward. In general, you should expect — at the very least — password protection and access to your private keys and recovery phrase. But beyond this, the gold standard in cryptocurrency security is hardware-based security. Now, there are a wide variety of standalone hardware wallets, like the Ledger Nano X and Trezor Model T — but these can run between $100 to $200 each and aren’t the most beginner-friendly so are best reserved for those with a large portfolio. image2_22.png Image courtesy: Coin Wallet But there are far more accessible solutions now available — arguably the most attractive of which is Coin Wallet’s offering. Right now, Coin Wallet is the only cross-platform cryptocurrency wallet with FIDO U2F support. This means it’s compatible with a wide range of security keys, including the Yubikey and Trustkey — which can add hardware grade security to your Coin Wallet for just $20 to $50. Multi-asset Support As of March 2021, there are well over 6,000 different cryptocurrencies in existence. Though only a small fraction of these are worth paying attention to, the immense variety that exists in the industry can make it difficult for beginners to securely and efficiently manage multiple cryptocurrencies at once. Story continues Until relatively recently, users would need to create and manage a separate wallet for each cryptocurrency they’d like to hold — requiring a learning curve each time. The only alternative was to store their cryptocurrencies on an exchange platform — sacrificing the accessibility and security of their funds as a result. Fortunately, things have come a long way in the last few years, and there are now a variety of cryptocurrency wallets that feature native support for dozens of the most popular cryptocurrencies. As such, they represent an easy entry route to managing a more diverse cryptocurrency portfolio, since they can all be managed from one place through a unified user interface. Some of the most popular multi-asset wallets currently include: Exodus wallet: Supports over 100 different cryptocurrencies. Coin wallet: Supports 10 of the most popular cryptocurrencies and thousands of ERC-20 tokens. BRD wallet: Supports over 100 cryptocurrencies, including most popular assets. Adjustable Fees Though cryptocurrencies are generally associated with their profitability and efficiency, they’re generally not entirely free to use. When transacting with most popular cryptocurrencies — including Bitcoin (BTC), ether (ETH), Cardano (ADA), and more, you’re going to need to pay a variable transaction fee, which generally relates to how congested the network is at the time, and how quickly you want it to be finalized. Although this fee can vary considerably, not all wallets are able to either dynamically adjust the fee based on current network conditions, or give you the option to manually set the fee you want to use. This poses two problems: for one, you might end up overpaying on fees — which can be an extremely expensive mistake during peak times. And secondly, you might end up underpaying, which can result in delayed or rejected transactions — wasting time and money. https://twitter.com/defi_dad/status/1358812674763730946 The alternative is simple: use a wallet that gives you control over the fee you use. It sounds simple enough, but it’s actually a surprisingly uncommon feature — particularly among multi-asset wallets, many of which omit this feature entirely. But fortunately, both Coin Wallet and Exodus are among the exceptions, since they both provide a great deal of control over the fees you use. Beyond this, your best bet is using a full node wallet if you want to control your spending on fees — since these almost always give you full control over your transaction costs. See more from Benzinga Click here for options trades from Benzinga SOS Limited Technical Levels To Watch Cantor Initiates Neutral Coverage On Village Farms International, Says Its Entry 'Into Other Segments Makes Sense' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CoinShares Releases DeFi Index Token for Institutional Investors: Asset manager CoinShares is coming to market with a decentralized finance (DeFi) token – one meant for institutional investors.
The London-based firm best known for its bitcoin exchange-traded productXBThas released its CoinShares Gold and Cryptoassets Index Lite (CGI) token on the Ethereum blockchain. The CGI token was built in cooperation withIndex Coop, the team behind the DeFi Pulse Index, and the Imperial College of London, according todocumentsshared with CoinDesk.
The CGI token consists of two equally weighted “wrapped” crypto assets – wrapped bitcoin (WBTC) and wrapped ether (WETH) – and the firm’s wrapped gold token, wDGLD. The index itself, theCGCI, was first released in May 2020.
Related:Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
Indexes bring legitimacy and ease of access to novel asset classes, CoinShares chairman Danny Masters told CoinDesk in an interview. For example, theGoldman Sachs Commodity Indexof the mid-2000s introduced institutional investors to the commodities market previously not considered an asset class at all, Masters said.
“When [institutional investors] came to the commodity space, they wanted an index,” Masters said. History is likely to repeat with digital assets, he said.
The index token itself is structured so as to take advantage of the infamous volatility of crypto markets.
The CGI itself uses theShannon’s Demonportfolio methodology which breaks asset holdings into two classes: volatile and non-volatile assets – in this case, crypto and gold.
Related:Square’s $50M Bitcoin Buy Is Now Worth $253M
The portfolio rebalances to the original weights on a set schedule regardless of ups or downs. The methodology has proven to beat passive investment products offered by traditional indexes.
The CGI token follows thereleaseof the DeFi Pulse Index (DPI) in September and Bitwise’sDeFi Index Fundon Feb. 17. That index, unlike CoinShares’, tracks a basket of differently weighted DeFi tokens such as AAVE or UNI.
See also:Wrapped Bitcoin ‘Burns’ Outpaced Minting for the First Time in December
• CoinShares Releases DeFi Index Token for Institutional Investors
• CoinShares Releases DeFi Index Token for Institutional Investors || OG Status in Crypto Is a Liability: “Bitcoin is rapidly becoming the crypto version of Australian wildlife. We separated ourselves, blocked all cross-pollination, and now there’s an isolated gene pool producing weird versions of everything.” So security researcher and Summa founder, James Prestwich, contended in a tweet thread last summer. Is bitcoin complacent? An austere monolith? A hermit kingdom? I don’t know. Bitcoin is probably fine, but underlying Prestwich’s hot take is a larger point that’s relevant beyond BTC: a lengthier crypto tenure does not equate to greater wisdom. Related: DODO DEX Drained of $3.8M in DeFi Exploit In the crypto culture, there’s a strong tendency for folks to flex about when they bought in. For me, I feel like the right date marking the beginning of my blockchain journalism is September 2015, when I wrote enough about Imogen Heap’s music-rights tracking project to become curious. This article is excerpted from The Node (formerly known as Blockchain Bites), CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here . But the allure of greater vintage is so tempting here, so I can date it to December 2013, when I first started following Charlie Shrem , a scrappy young Brooklyn, N.Y.-based tech entrepreneur, though truthfully my interest in bitcoin was really only ancillary then, going no further than the fact that it counted as “tech.” Tenure yields respect; not as much respect as heavy bags, mind you – but in absence of bags, time counts. Related: Private Swiss Bank NPB Launches Digital Asset Trading, Custody Services But it shouldn’t count for that much. In fact, having watched this space roughly as long as the Ethereum blockchain has existed, I’m happy to go a step further: tenure can be a liability. Tenure is, in particular, a liability for those who have dipped out and come back. But some who never left remain stuck in ancient ways. Story continues Time is not data One way to measure how much data can be gathered in a particular time period is by counting people. Of course we can’t count people in crypto very easily, but we do have counts of active wallets , which is a decent proxy (noting, obviously, that many crypto users have more than one wallet — as they should). So let’s say you were super early to the space, say from late 2011 to early 2015. You lived in a world that had only a little over 10,000 active bitcoin wallets and faded out when there were under 200,000. There were zero ethereum wallets. Now let’s compare you to a relative newbie. Say they showed up in early 2017, before the BTC price really started sailing high but close enough that you could smell a change in the air. There would have been 500,000 active bitcoin wallets and 20,000 or so ethereum wallets. If they stuck around for roughly the same amount of time, they would have the opportunity to meet vastly more people, watch vastly more experiments and learn vastly more lessons. There’s just more going on now. And lest we assume these new arrivals are just random, it’s worth noting how many blockchains have healthy and growing developer communities . These days, more people show up for the first time in one year than were ever present early on. Framed like that, it’s crazy to presume perspectives gleaned in those hazy bygone days are inherently superior to more recent ones. This isn’t some fantasy story about lost and forgotten magicks. This is technology. One of the chief blind spots that I see in the OG’s is dismissing anything that’s new. There’s the Bitcoin Maximalist and the Ethereum Maximalist. The two are largely caricatures, though. Many bitcoiners grudgingly accept Ethereum is here to stay and vice versa, but there’s still a knee-jerk attitude of not just skepticism, but dismissal of any new coin or consensus mechanism. Moar chainz “Scam” and “s**tcoin” get thrown around much too flippantly, which diminishes the charge’s impact when it actually should stick (and often enough it should). For anyone who left and missed the mid-2010s, this is understandable. The space was awash in cash grabs then. But the quality of new blockchain architects has changed: Polkadot is not equivalent to TrumpCoin. Tezos is a more thoughtful piece of software than Bitshares. Once upon a time, most new cryptocurrencies were lame forks of bitcoin (or forks of forks) with some marketing slapped on. Auroracoin , anyone? Remember potcoin? Dogecoin. But that’s simply no longer true. Today, many new blockchains are initiated by talented, well-resourced teams . No doubt many of them will fade off into obscurity, but so do many startups. Startups are afforded the benefit of the doubt and new blockchains by well-intentioned creators should be, too. When they do fail, there are lessons to be learned for the whole industry. Old heads who dismiss them out of hand will miss out on those lessons. Not every OG has failed to adjust their thinking to the modern reality. For example, consider Boost VC. In 2014, it promised to back 100 bitcoin startups. In 2018 we reported that it hit its goal , but the firm also changed the terms of its pledge. It had funded 100 crypto startups, not just on bitcoin. Boost co-founder Adam Draper explained at the time that it just wasn’t kosher in 2014 to talk about anything but bitcoin, but times changed and Boost changed with it. Not everyone has. Later in his thread, Prestwich wrote , “Our Core Dev ivory tower is now sitting next to a small skyscraper, and it’s past time we walked out and asked the neighbors what they’re up to.” Related Stories OG Status in Crypto Is a Liability OG Status in Crypto Is a Liability
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
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 atcmurphy@etf.com
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Permalink| © Copyright 2017ETF.com.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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• Bitcoin is extending its lead over gold || What you need to know on Wall Street right now: (Donald Trump.Getty Images)Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
Barclays, the 300-year-old British financial institution, isdoubling down on investment banking in the US.
"Our narrative needs to be: 'We are a top, fifth-ranked firm in the US' investment banking market — period,'"John Miller, who is head of Barclays' corporate and investment bank in the Americas,recently told Business Insider.
Elsewhere on Wall Street, hedge fund traders from alegendary desk at Goldman Sachs have lost billions of dollars. And the statue of the "Fearless Girl"will stare down the Wall Street bull for another year.
TheGOP's Obamacare replacement plan got pulled from a vote in the Houseon Friday, putting markets on edge. Here's what you need to know:
• How "Trumpcare" went up in flames — and why it should worry the GOP about the future
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In markets news, one of Wall Street's favorite Trump tradesis rewarding investors that bet against it. Hospital stocks arepopping after the demise of "Trumpcare."Wall Street is gettingone of its biggest calls of the year all wrong.
In economics, Treasury Secretary Mnuchin says AI taking US jobs is "50-100 more years" away —but it's already beginning to happen. And seeing how the highest and lowest-earnersspend their money will make you think differently about "rich" vs "poor."
In deal news,Okta priced its IPO andhopes to hit a $2 billion valuation. AndElevate Credit, an online lender that focuses on riskier borrowers,is headed for an initial public offering.
And in tech, the No.1 investment bank advising Snap on itsIPO is projecting massive growth for the company. TheYouTube advertiser boycott will cost Google $750 million, according to one analyst. And a Bitcoin civil war is threatening to tear the digital currency in two —here's what you need to know
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Here are the top Wall Street headlines from the past 24 hours.
Saudi Arabia sweetens huge Aramco IPO with tax cut-Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale.
Brexit is already hurting London's reputation as a financial centre-London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind.
Tesla is about to confront dueling best- and worst-case scenarios, and anything could happen-Tesla is preparing for its biggest year ever.
Whole Foods is facing its worst nightmare after an unexpected threat stole millions of customers-Whole Foods is losing millions of customers to what was once an unthinkable threat: Kroger.
This cocktail brought the "original American whiskey" back from the dead-Whiskey is experiencing a huge comeback in America.
The Trump era is ushering in a "more is more" design renaissance in America-The Trump aesthetic is far from subtle.
We got a peek inside a $20 million apartment in the latest skyscraper to dramatically alter Manhattan's skyline-Madison Square Park Toweris changing Manhattan's skyline. The 65-story glass skyscraper is the tallest in its Flatiron District neighborhood, and because of various zoning laws surrounding it, its fantastic views will never be obstructed.
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• What you need to know on Wall Street right now || Flow and Manchester United Team up to deliver the Ultimate Football Experience to Caribbean Footballers: MIAMI, FL--(Marketwired - Feb 27, 2017) - Up-and-coming Caribbean footballers between the ages of 13 and 16 will not be able to contain their excitement, as news breaks that Flow and Manchester United will host The Ultimate Football Experience , a skills-based competition, supported by the Caribbean Football Union . The programme seeks to give youngsters, the chance-of-a-lifetime to participate in a talent development football camp; and even earn a trip to Old Trafford, Manchester to see Man Utd vs Crystal Palace on May 21 st 2017. The good news gets even better as registration opens this week for the football competition which runs from March through to May 2017. Here's how it works: skilled boys and girls can register online at https://discoverflow.co/flowmanutd . Registered participants will then be instructed to appear at designated football festivals across all Caribbean markets in which Flow operates. The participants will engage in a Manchester United Soccer School's international programme, which has been specially devised for the campaign and will be delivered by CFU coaches. Throughout the competition Manchester United legends will also be making an appearance at the festivals to offer their tips and advice. This is a proven Manchester United Soccer School programme designed to build and test the skills of young footballers across the globe. As the competition evolves, two participants from each market, along with their respective coach, will advance to a two-day skills session in Trinidad and Tobago to experience one-on-one training with CFU and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and compete for the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England. Considered to be the highlight of the development initiative the two winners along with their coaches will travel to the world-famous football stadium to witness first hand Manchester United's final Premier League game of the season against Crystal Palace. This VIP experience will also include a visit to the Manchester United Museum and Tour, taking in the history of the club followed by a tour of the iconic stadium. Story continues Manchester United's Group Managing Director, Richard Arnold said, "Youth development is at the heart of this Club's traditions and success. The Manchester United Soccer Schools were developed to help spread this spirit to as many children as possible. In recent years our partners have been instrumental in helping the great work of our Soccer Schools coaches reach young people around the world. We're proud to work with Flow on this project." "Like Manchester United, Flow also has a deep sense of commitment to youth development as can be seen by our support of several programmes throughout the region that help to hone the skills of young footballers," said Garfield Sinclair, Flow's newly appointed President of the Caribbean . Sinclair also said, "We're therefore proud to work in partnership with Manchester United to offer this once in a lifetime experience to our talented youngsters across the region." The Caribbean Football Union's ( CFU ) President Gordon Derrick gave a ringing endorsement of The Ultimate Football Experience, as he added: "The CFU is proud to be a partner with Flow on this exhilarating and beneficial initiative. Hundreds of young footballers in 15 countries -- half of the CFU's membership -- will have the opportunity to compete, hone their skills, and, for the finalists, live the dream. I am confident that this partnership will bode well for the future of football in the region." The Ultimate Football Experience is one of several Manchester United and Flow partnership initiatives. In January, Flow hosted the FA Cup Caribbean Tour during which the Company gave football fans up-close and unprecedented access to football's most coveted trophy. The final leg of the tour culminated in the Cayman Islands, where Manchester United ambassador Dwight Yorke made an appearance . Cable and Wireless is Manchester United's telecommunications partner in the Caribbean . About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Here’s A Portfolio Based On JP Morgan’s 2017 Outlook: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by Corey Hoffstein, co-founder and chief investment strategist of Boston-based Newfound Research. J.P. Morgan recently released its 2017 long-term capital market assumptions, a valuable resource for investors looking to leverage institutional research in their own asset allocation decisions. For those unfamiliar, capital market assumptions outline the expected return, volatility and correlation parameters that can be fed into a portfolio optimization process. The full report sits at a hefty 94 pages. Before using the research, we believe it is prudent for investors to read the full report to understand the methodologies employed. For those less interested in narrative and more interested in implications, there is an easier way to gain insight: Build a portfolio. That is exactly what we have done. Using the capital market assumptions, we have built mean-variance optimal portfolios at varying risk levels. The results may surprise you. Hoffstein For a larger view, please click on the image above. While traditionally built portfolios rely heavily on stocks and bonds, portfolios built leveraging J.P. Morgan’s capital market assumptions steer away from them. For example, the portfolio designed to have a similar risk profile as a 100% global equity portfolio (the far right of the above graph) holds less than 50% in global equities. Alternative Income Favored Credit-based and alternative income asset classes dominate portfolios across the risk spectrum. These asset classes are emerging market debt (USD), emerging market debt (local currency), high-yield bonds, bank loans and REITs. Why the optimization ends up relying so heavily on credit-based asset classes can be seen in the below scatter plot of expected returns and volatilities. Hoffstein For a larger view, please click on the image above. Story continues With equity exposures in yellow and credit exposures in blue, we can see that similar return levels are expected to be achieved at significantly less risk. High-yield bonds, for example, are expected to only earn 0.5% less a year than U.S. large-cap stocks, but with 40% less volatility. Consider, similarly, that bank loans are expected to have a risk profile in line with intermediate-term U.S. Treasurys and investment-grade corporate bonds (the two green dots below bank loans in the above graph), but with nearly double the return. The result is that the optimizer ends up using credit in place of both stocks and bonds. Investment-Agnostic Part of the beauty of a completely systematic approach like portfolio optimization is that it is agnostic to what the investments actually are. While investors may be reluctant to go so far outside their own comfort zone, a computer simply sees numbers and performs rote calculations to find the optimal risk/reward trade-off. Why use riskier stocks when emerging market debt and high yield can be used instead? Why use lower returning bonds when bank loans fit the bill? This agnosticism to what the allocations represent results in what might seem, to many, a rather unusual—albeit thought-provoking—portfolio. So while on the one hand J.P. Morgan’s outlook provides evidence that investors should strive to incorporate many of these credit-based exposures, on the other, it may be totally untenable for most investors. We should acknowledge that the optimal portfolio is first and foremost the one an investor can stick to. We explicitly model this trade-off in our model research portfolios . Those interested in learning more about how we do it can read our white paper, “ A Modern, Behavior-Aware Asset Allocation .” Balancing Short-Term Risk & Long-Term Opportunity It is also important to recognize that not only are J.P. Morgan’s capital market assumptions estimates , but that they are estimates for annualized returns for the next seven to 10 years. Today if we use the BofA Merrill Lynch US High Yield Option-Adjusted Spread as a measure of “value,” credit-based instruments are not cheap. In fact, sitting at 3.93% at the time of writing puts us in the most expensive quartile of markets going back to 1996. In Newfound’s Multi-Asset Income portfolio , we seek to balance potential short-term risk and long-term opportunity in two ways. First, we strategically allocate using a Sharpe parity approach, dynamically emphasizing the asset classes that provide the most yield with the least volatility. We then apply a trend-following process to remove asset classes we deem to be exhibiting significant downside risk. We believe this dual approach to managing risk can help create a stable, balanced portfolio in healthy market environments while providing a means of de-risking in unhealthy ones. For do-it-yourselfers, there are a variety of ETFs available today in each of these credit categories that can be used to incorporate exposure. Bank Loans: SPDR Blackstone / GSO Senior Loan (SRLN) , PowerShares Senior Loan Portfolio (BKLN) , Highland/iBoxx Senior Loan (SNLN) EM Debt (USD): iShares JPMorgan USD Emerging Markets Bond ETF (EMB) , PowerShares Emerging Markets Sovereign Debt Portfolio (PCY) EM Debt (Local Currency): SPDR Bloomberg Barclays Emerging Markets Local Currency (EBND) , VanEck Vectors JP Morgan EM Local Currency Bond (EMLC) High Yield: SPDR Bloomberg Barclays High Yield Bond ETF (JNK) , iShares iBoxx $ High Yield Corporate Bond ETF (HYG) , JPMorgan Disciplined High Yield (JPHY) REITs: Vanguard REIT Index Fund (VNQ) Regardless of approach, the implications behind J.P. Morgan’s capital market assumptions are clear: Credit-based exposures will be key to unlocking the optimal risk/reward trade-off for portfolios over the next decade. Newfound Research uses BKLN, SNLN, PCY, EMLC, HYG, JPHY and VNQ in its portfolios and may hold positions at the time of publishing. Founded in August 2008, Newfound Research is a quantitative asset management firm based in Boston. Investing at the intersection of quantitative and behavioral finance, Newfound Research is dedicated to helping clients achieve their long-term goals with research-driven, quantitatively managed portfolios, while simultaneously acknowledging that the quality of the journey is just as important as the destination. For more information about Newfound Research, call us at 617-531-9773 , visit us at www.thinknewfound.com or email us at info@thinknewfound.com . For a list of relevant disclosures, click here . Recommended Stories How To Build A Balanced Portfolio For Today’s Market How Revenue Weighted ETFs Work 3 Simple Rules For Tactical Asset Allocation Bitcoin ETF: A Fintech Marriage Ready To Happen Trump Trick & Tweets: These ETFs May Prosper Ahead Permalink | © Copyright 2017 ETF.com. All rights reserved || Bitcoin is roaring back: Bitcoinis higher for a second straight day on Tuesday, trading up 6.5% at $1,110 a coin as of 2:13 p.m. ET. The cryptocurrency has rallied about 17% since Sunday's low, rebounding from a slump over the weekend that followed a Wall Street Journal report that the cryptocurrency's developers were threatening to set up a "hard fork," or alternative marketplace for bitcoin.
The new platform would be incompatible with the current platform, thus creating a split and two versions of the currency. That news sent bitcoin crashing 20% over the weekend to about $950 a coin, its weakest since January.
(Investing.com)
2017 has been a volatile year for the cryptocurrency.
It gained 20% in the first week of the year after soaring 120% in 2016 to become thetop-performing currencyfor the second year in a row.
Bitcoin then crashed 35% on news thatChina was going to consider clamping downon trading.
But it managed to rip higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
Still, bitcoin put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund. The SEC denied the ETF, sending the price crashing by 16%. Bitcoin, however, managed to quickly recover those losses.
Two more SEC rulings are on the way, the next being March 30. Neither one is expected to pass.
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• Bitcoin could be on the edge of a cliff || Altcoin Crowdsale ICO Begins New Offering Under Symbol "ALT": VANCOUVER, BC / ACCESSWIRE / March 29, 2017 / First Bitcoin Capital Corp.(OTC PINK: BITCF) launched its first Initial Coin Offering (ICO) today. The Company foresees a major shift coming that will overnight witness the emergences of altcoins surpassing Bitcoin in overall market cap. Investopedia.com defines "Altcoin" as a combination of two words: "alt" and "coin"; alt being short for alternative and coin signifying currency. Thus, together they imply a category of cryptocurrency that is alternative to the digital currency, Bitcoin. In order to capitalize on the pending shift, the Company has wasted no time in launching its first ICO choosing a name to capture the maximum exposure to this emerging trend calling it "ALTcoin" bearing the symbol " ALT ." In conjunction with this new ICO (also sometimes known as ITO for Initial Token Offering), the company is preparing to launch the AltCoinMarketCap.com - website for worldwide tracking capitalization of various alternative cryptocurrencies, as a social platform for cryptocurrency enthusiasts and as a new, potential income source. Crypto Coin speculators may already begin acquiring ALT using Tether (USDT) as the medium of exchange. Early participants will automatically receive approximately 1.25 ALT for each USDT sent to the company's Omni wallet, Bitcoin address: 1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS In order to insure receipt of the ALT upon transferring USDT to the company's wallet address, speculators will need to use their own personal Omni Wallet address and not an exchange provided wallet as the exchanges may not be prepared to credit those ALT to the senders account. After 6 confirmations, the ALTcoin ( ALT ) will arrive in recipient's personal Omni Wallet. This process is fully automated and requires no manual processing by the issuer of ALT . To participate, kindly see further details at: https://www.omniwallet.org/assets/details/149 The early bird bonus originally at 25%, will be gradually reduced to 20% the second week, 15% the third week, 10% the fourth week and 5% the final, fifth week, when the ICO closes. A bonus of 10% of all coins sold will belong to The Company while the 90% will be held by the public. It is rare to find an ICO that doesn't amass a greater percentage to the issuers and organizers. Story continues Management expects to witness ALT listed on several exchanges in the immediate future, including its subsidiary, COINQX.com so that those unable to send USDT to acquire ALT may also participate and so that secondary trading may ensue. Cryptopia is the first Bitcoin exchange outside OMNIDEX to list ALT . ALT utilizes the same Omni protocol as our recently launched Bitcoin Unlimited Futures, which is now trading on 3 exchanges under the symbols XBU on OmniDEX and CoinQX and as XB on C-Cex. We chose USDT as a medium of exchange for speculators to acquire ALT since it is the most actively traded Omni asset with tens of millions of coins in daily volume, trading in 11 currencies on Poloniex cryptocurrency exchange, as well as many other exchanges such as CoinQX.com and OMNIDEX exchanges. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || CaribbeanTales Flow into Production: MIAMI, FL--(Marketwired - Feb 23, 2017) - Three of the Caribbean's leading film producers will now develop pilots for their original TV series projects, via funding fromFlowand CaribbeanTales Media Group.
With $40,000 funding for each project, production work will begin onBattledream Chronicle,a sci-fi/drama animated series created by Alain Bidard, which is based on his groundbreaking multi-award winning feature film;Heat,a sweltering crime/drama series filmed in Barbados from iconic filmmaker Menelik Shabazz (Burning an Illusion, The Story of Lover's Rockand more);andCaribbean Girl NYC,an ensemble female-driven sitcom from NY-based Guadeloupian filmmaker/producer Mariette Monpierre, whose award-winning filmElzawon, among others, the prestigious NYT award.
Support for these pilots is part of CaribbeanTales Incubator Program (CTI), a year-round development and production hub for Caribbean and Caribbean Diaspora Producers to assist in the creation of strong, compelling and sustainable regional content for the global market.
"We recognise the significant hurdles that Caribbean Producers face in financing and producing their content, and getting it out to audiences," said John Reid, CEO ofCable and Wireless, operator of Flow and lead sponsor of CTI. "We are honoured to help support this programme that is enabling the production and monetisation of this exciting emerging cultural industry."
Production on the pilots will begin in April 2017. They will premier later this year at the twelfth annualCaribbeanTales International Film Festival(CTFF). Flow is also the lead sponsor of CTFF, a mix of exciting and dynamic films that showcase diverse, shared stories and cultures, and celebrates the talents of established and emerging filmmakers of Caribbean heritage. The festival will be held in Toronto, Canada between September 6 and September 20, 2017.
As an added bonus, an eight-part documentary series has been filmed and is currently in post-production. The series follows the ten teams of filmmakers who competed for this prestigious award, and will be shown onFlow1later this year.
Frances-Anne Solomon, CEO of CaribbeanTales, states, "We are delighted that, together with Flow, we are able to provide the Caribbean's top filmmakers with funding and a platform to produce top quality, local, content with the capacity to reach audiences across the region and the world."
Visit the CTIwebsitefor more information and to apply for the 2017 CTI programme. And follow Flow and CaribbeanTales onTwitter,FacebookandInstagramto stay up to date.
CTI is now accepting applications for its 2017 programme:http://caribbeantales.ca/cti.
About C&W Communications
C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty Global
Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets For more information, please visitwww.libertyglobal.com. || Bitcoin soars above $1,100: (A Bitcoin sign is seen in a window in Toronto.Reuters/Mark Blinch)
Bitcoin has broken out to its best levels since the beginning of the year as overnight buying has the cryptocurrency higher by 4% at $1,101.70 per coin.
Tuesday's advance marks bitcoin's eighth straight gain and has run action above the $1,100 mark for the first time since January 5. A move above $1,161.85 will have bitcoin trading at its best level since November 2013.
The eight-day winning streak comes amid investor speculation the Securities and Exchange Commission will approve at least one of thethree proposed bitcoin-focused exchange-traded fundsdespite analyst concerns that none will be approved.
Bitcoin has had a wild start to 2017.
It rallied more than 20% in the opening week of the year, propelled by speculative buying in China. It then proceeded to crash 35%, bottoming out below $800, amid concerns China was going to crackdown on trading.
After shrugging off concerns that Chinese exchanges were going to charge aflat fee of 0.2% per transaction, buyers re-emerged and ran bitcoin above $1,050 before two of China's largest exchanges said they wereblocking withdrawals.
(Markets Insider)
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• Trump doubles down on baffling Sweden claims || Coin Citadel Shareholder Update: LOS ANGELES, CA / ACCESSWIRE / March 27, 2017 / Coin Citadel (OTC PINK: CCTL), announces that it is diligently working on finalizing a transaction to substantially increase our Bitcoin inventory and add substantial value to our current assets. At the same time, we are searching for additional opportunities in the Bitcoin sector that can add revenue and value to our core business model, and ultimately, to our shareholders. We are also pursuing merger and acquisition opportunities outside of our current business model with a view toward eventually evolving into a holding company with diversified assets involved in multiple markets, thus minimizing our exposure to market fluctuations within a single sector. The company's long-term outlook on Bitcoins is bullish. With more opportunities and acquisitions to make, the more valuable the company will be. Additionally we are working on bringing the company back to current status on OTCmarkets.com. We also want to open other lines of communication with our shareholders, through social media such as Twitter, and Facebook. Please be on the lookout for news, filings, and other updates coming shortly. Effective March 22, 2017, An incredited investor and the "Company", entered into a 3a10 for the claim amount of $197,500.00. 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: Bill Schaefer, CEO 562-453-7643 SOURCE: Coin Citadel
[Random Sample of Social Media Buzz (last 60 days)]
#HamRadioCoin #HAM $0.000682 (-19.27%) 0.00000063 BTC (-20.00%) || High Investment Program - 600% daily for 5 days. bitcoin double multiply . http://ow.ly/6aQZ3092X1p || Size Matters: Japan Becomes Largest Bitcoin Exchange Market, Beats China and US http://fb.me/8HSYKHeml || RT wef:Here's why bitcoin boomed in 2016 http://wef.ch/2leP8l0 pic.twitter.com/03nuvgRQ9x || :Bitcoin toma de assalto o Marrocos http://www.btcsoul.com/2017/02/16/bitcoin-toma-de-assalto-o-marrocos/ … || Is it just me or are Bitcoin investors finding a new home in Etheruem? || DarkNet Arms Dealer Sentenced To Four Years in Prison: Michael Andrew Ryan, a Kansas man by .. #darknet #bitcoin http://dld.bz/fzeQE || Join #Slots LV online #casino now taking #bitcoin deposits so get your #bonus now http://bit.ly/SlotsLVCasino pic.twitter.com/KaqSrM3XTv || Chinas BTCC Becomes Latest #bitcoin Exchange to Freeze Withdrawals http://bit.ly/2kthrMD pic.twitter.com/QS3YL3jQtH || Buena racha para Bitcoin hoy http://www.diariobitcoin.com/index.php/2017/02/16/buena-racha-para-bitcoin-hoy-2/ …pic.twitter.com/9Pm6dwUxHg
|
Trend: up || Prices: 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-05-12]
BTC Price: 49150.54, BTC RSI: 37.13
Gold Price: 1822.60, Gold RSI: 62.91
Oil Price: 66.08, Oil RSI: 62.71
[Random Sample of News (last 60 days)]
Bitcoin and housing market collide as home sellers increasingly accept crypto: When real estate agent Whitney Pannell listed an investment home that she bought and renovated for $300,000, she added an unusual note to thedescription: "Sellers are accepting Bitcoin for this home."
“I’m a firm believer in bitcoin — I believe it will be the future,” said Pannell, who has been investing seriously in the digital coin since 2019 with her husband, Rick. She had heard of properties in California selling for bitcoin years ago, but not in her home market of Lexington, Kentucky. “I figured somebody will do it, why not us?”
She's not alone. More sellers — albeit still a small segment — are trying to get in on bitcoin and cryptocurrency through the hot housing market, according toRealtor.comdata provided to Yahoo Money.
Last month, there were 71 listings that mentioned crypto or bitcoin in their descriptions on the real estate listing site. That's 14.3 listings per 100,000 homes, the highest rate on record, according to the data.
The previous high occurred in March 2018, during cryptocurrency’s last peak in popularity and prices. At that point, Realtor.com saw 12.7 listings per 100,000 homes.
Read more:Here's how to incorporate bitcoin into your retirement investments
“If the cryptocurrency market can get a firmer foothold and grow confidence from the general public, we may see a wider adoption of home sellers accepting cryptocurrencies as payment,” Nicolas Bedo, an economic research analyst at Realtor.com, told Yahoo Money.
Bitcoin has surged more than 500% in the past year, from less than $10,000 to the current price of almost $60,000. The cryptocurrency now has a market value of more than $1 trillion, according to CoinMarketCap.com.
Other digital tokens, including ethereum, Binance coin, and Dogecoin have also rallied as investors pile into the sector, pushing the value of the more than 6,000 crypto coins past a total of $2.25 trillion.
At the same time,home values increased 12% year over year in February, the highest annual gain recorded by the S&P CoreLogic Case-Shiller national home price index since February 2006 — or two months shy of the last peak in housing.
“Bitcoin has appreciated about 200% a year, while the Lexington market did 3% — now 10% with what’s going on — but far less than what bitcoin has appreciated,” Pannell said. “It’s just about finding that buyer.”
Read more:Bitcoin: 74 questions answered
Raul Chavez of800buykwik.comagrees and is instructing his real estate agents to note inlistingsthat cryptocurrency is accepted. Chavez has been a house flipper in California — an investor who buys homes, fixes them up, and quickly resells them — since 2000.
Lately, he’s also been investing in bitcoin and ethereum.
“I feel in the long run, bitcoin will have the higher opportunity,” Chavez, who seriously got into the crypto market in April of last year, told Yahoo Money. “Yes, it’s more volatile, but 10 years from now, this is where the world is headed.”
His only problem is finding new homes to buy and flip for crypto in a housing market suffering from inventory shortages. Thenumber of homes for sale at the end of March hit 1.07 million units, down 28.2% from a year ago and near historic lows, according to the National Association of Realtors.
Read more:Mortgage rates: Here's how to get the best rate
“It's definitely a very hot housing market,” he said.
Potentially too hot to hold out for bitcoin buyers: Both listings that Chavez and Pannell put up are under contract to buyers offering run-of-the-mill U.S. dollars.
“No bitcoin offers, but we did sell it after multiple offers over the asking price,” Pannell said. “We’re not at the point that we’ll turn away all cash.”
Janna is an editor for Yahoo Money andCashay. Follow her on Twitter@JannaHerron.
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Read more personal finance information, news, and tips on Cashay || Signal Founder May Have Been More Than a Tech Adviser to MobileCoin: Signal recently launched a beta integration of MobileCoin (MOB) for payments. Its price has jumped from $7 to over $55 in the past month. Signal founder Moxie Marlinspike, whom MobileCoin previously described as a technical adviser, may have been more deeply involved in the cryptocurrency project. An earlier, nearly identical white paper found online, which MobileCoin CEO Joshua Goldbard called erroneous, lists Marlinspike as the projects original CTO. The founder and CEO of encrypted messaging app Signal, Moxie Marlinspike may have been the former CTO of MobileCoin, a cryptocurrency that Signal recently integrated for in-app payments, early versions of MobileCoin technical documents suggest. MobileCoin CEO Joshua Goldbard told CoinDesk this 2017 white paper is not something [he] or anyone at MobileCoin wrote, though it is very nearly a verbatim precursor to MobileCoins current white paper . Additionally, snapshots of MobileCoins homepage from Dec. 18, 2017, until April 2018, list Marlinspike as one of three members of The Team, though his title is not given there. He is not listed as an adviser until May 2018. The team for the self-described privacy coin has always acknowledged Marlinspike as an adviser to the project, but neither the team nor Marlinspike has ever disclosed direct involvement through an in-house role, much less one so involved as Chief Technical Officer. Related: Zcash Announces 'Halo Arc' and Timeline for Protocol Privacy Update If Marlinspike actually was involved as a CTO in MobileCoins early days, the recent Signal integration raises questions of MobileCoins motivation for associating itself with the renowned cryptographer, along with his own motive for aligning with the project, given the MOB team has historically downplayed this involvement. Signal sold out their user base by creating and marketing a cryptocurrency based solely on their ability to sell the future tokens to a captive audience, said Bitcoin Core developer Matt Corallo, who also used to contribute to Signals open-source software. Story continues Goldbard shared another document dated Nov. 13, 2017, same as the other white paper, which does not list a team for the project. He claimed that this white paper was the authentic one and the other was not. Moxie was never CTO. A white paper we never wrote was erroneously linked to in our new book, The Mechanics of MobileCoin. That erroneous white paper listed Moxie as CTO and, again, we never wrote that paper and Moxie was never CTO, Goldbard told CoinDesk. Related: Lakers Asst. Coach: Financial Advisors Afraid of Telling Pro Athletes to Invest in Crypto This book is actually the most recent comprehensive, conceptual (and technical) exploration of the cryptocurrency MobileCoin posted on the MobileCoin Foundation GitHub, which Goldbard describes as projects source of truth and serves as the most up-to-date technical documentation for the project. This real version of the paper is nearly identical to the erroneous white paper except there is no mention of team members or MobileCoins pre-sale details. (Both white papers and current MobileCoin technical documents are embedded at the end of this article for reference.) Goldbard said the erroneous white paper was accidentally added as a footnote to this latest collection of technical documents compiled by Koe , a pseudonymous cryptographer who recently joined MobileCoins team. That footnote also lists Marlinspike as a co-author of the paper along with Goldbard. He just googled it, like everyone on the internet seems to be doing today, and put [it in] as a footnote. It was an oversight. I did not notice it in my review of the book prior to publishing, Goldbard told CoinDesk. A metadata analysis of the papers run by CoinDesk shows that the erroneous paper was generated on Dec. 9, 2017, while the real paper was generated two days later. Marlinspike declined to comment on the record about his professional relationship with MobileCoin. A tale of two papers In a December 2017 Wired article titled The Creator of Signal Has a Plan to Fix Cryptocurrency, Marlinspike went on the record as a technical adviser, a title CoinDesk has also used to describe his relationship with MobileCoin in the past. There are lots of potential applications for MobileCoin, but Goldbard and Marlinspike envision it first as an integration in chat apps like Signal or WhatsApp, the article reads. It also states that Marlinspike first experimented with [Software Guard Extensions (SGX)] for Signal. These special (and expensive ) Intel SGX chips create a secure enclave within a device to protect software, and MobileCoin validators require them to function (validators, as in other permissioned databases , are chosen by the foundation behind MobileCoin). In the 2017 white paper that Goldbard disavows, Marlinspike is listed under the team section as CTO, with experience including being the lead developer of Open Whisper Systems, [meaning] Moxie is responsible for the entirety of Signal, which had just over 10 million users at the time. This same white paper describes MobileCoins Goldbard as a high school dropout who thinks deeply about narratives and information systems. Signals code has historically been open source, though this changed about a year ago; code for the MobileCoin integration was added in Signals last beta. The nonprofit, which has five full-time employees, subsists largely on donations and has no clear revenue model , though Whatsapp co-founder Brian Acton injected $50 million into the app in 2018. A 2018 tax filing shows revenue of just over $600,000 for the fiscal year and over $100,000,000 in assets and $105,000,000 in liabilities. MobileCoin supply and other details The disavowed white paper also shows details of MobileCoins proposed distribution, which the paper says included selling 37.5 million MOB tokens (out of a 250 million supply) in a private presale at a price of $0.80 each for a total of $30 million. Indeed, in the spring of 2018, MOB raised $30 million from crypto exchange Binance and others in such a private presale, TechCrunchs Taylor Hatmaker reported . Goldbard referred to the TechCrunch article when discussing MobileCoins financing with CoinDesk. In a MobileCoin forum on Jan. 8, one user asked for details about MOBs circulating supply. Supply: 250mill MOB; Circulating supply: impossible to know (circulating is pretty hard to define anyway), Koe responded. MobileCoin does not currently have online tools such as a blockchain explorer to search the network for data. One user chimed in to say that because all 250 million MOB were generated from a premine, or creation of maximum supply before launch, theres no way for users to earn them through staking or mining. I suppose you could request donations, Koe replied. Perhaps summing up the sense of betrayal the Signal community feels, one post simply reads, Et tu, Signal? MobileCoins consensus model copies Stellars, meaning only MobileCoin Foundation-approved nodes, which must run on a machine that uses the aforementioned Intel SGX chips, can partake in consensus. The white paper makes no references to rewards or payouts to validators from MOB supply. MobileCoin Token Services, an affiliate of the MobileCoin Foundation, is currently selling MOB (presumably the remaining coins that did not sell in the presale) to non-U.S. investors by taking orders over email. MOB, for now, trades on FTX and Bitfinex , two popular crypto exchanges, and a few smaller venues. When the coin began trading in January, it first listed for around $5. Now, its worth about $55 (which, assuming a supply of 250 million MOB, gives the coin roughly the same market cap as Chainlink or Litecoin, the 10th and 9th most value cryptoassets by market cap). The coin clocked over $15 million in volume over the past 24 hours between FTX and Bitfinex, according to exchange data . Speaking to the coins design, the founder of privacy coin monero , Richard Spagni, claimed that MobileCoin uses the privacy building blocks of his projects source code for its own design without giving credit. Who is Moxie Marlinspike? Something of a legend in cryptography circles, Marlinspike began working on Signal in 2014 after founding Open Whisper Systems in 2013. Before this, he served as Twitters head of security after his 2010 startup, Whisper Systems, was acquired by the social network in 2011. His only on-the-record professional relationship with MobileCoin comes from his technical advisory role, which he took on in late 2017 at the height of bitcoins last bull market and its accompanying initial coin offering bubble. Reporting on the project in 2019 , the New York Times Nathaniel Popper and Mike Isaac originally wrote that Signal
has its own coin in the works before amending the article to clarify that MobileCoin will work with Signal, but it is being developed independently of Signal. The correction seems to typify the shifting narrative of Marlinspikes and MOBs relationship across various records. (Wireds 2017 coverage, for example, says that The Creator of Signal Has a Plan to Fix Cryptocurrency.) I think usability is the biggest challenge with cryptocurrency today, Marlinspike told Wired in the December 2017 article. The innovations I want to see are ones that make cryptocurrency deployable in normal environments, without sacrificing the properties that distinguish cryptocurrency from existing payment mechanisms. Signals own users are less convinced. The apps Reddit page is plastered with submissions complaining about the decision to add MOB, with many confused as to why Signal would integrate a coin in the first place, let alone one that isnt very well known (and which only went live this year). Using your messenger service to sit on the blockchain hype for no good reason, bloat a clean messenger app and introduce privacy concerns was more than unnecessary, one post reads . Perhaps summing up the sense of betrayal the Signal community feels, one post simply reads, Et tu Signal? Speaking on Moxies involvement and the apps decision to add MOB, Anderson Kill partner Stephen Palley said, I cant speak to the discrepancy between investor materials and what youre being told, but I dont necessarily judge them for wanting to make a buck after years of providing great open-source software basically for free. Signal first out the gate (but tripping) Other messaging apps like Telegram and Kik have tried and failed to launch in-app cryptocurrency payments by rolling their own coins. Both attempts were promptly quashed by regulators. Encrypted messaging app Keybase was the first messaging app to add cryptocurrency payments when it integrated Stellars XLM in 2018. Given Facebooks ownership of WhatsApp, its involvement in the Libra coin project (now known as Diem) may be seen as a similar attempt. Oddly, Signals addition of MobileCoin is the first instance of a messaging app actually pulling off a crypto integration. The question now is how many of Signals 50 million users, many of whom arent crypto enthusiasts, will use it. Read the official and disput ed MobileCoin white papers below: Updated April 9, 2021, 13:54 UTC: This article was updated to indicate that Keybase was the first encrypted chat to integrate cryptocurrencies when it added XLM in 2018. Related Stories Signal Founder May Have Been More Than a Tech Adviser to MobileCoin Signal Founder May Have Been More Than a Tech Adviser to MobileCoin || Wealthfront gives green light to investment in cryptocurrencies: By Anna Irrera (Reuters) -Wealthfront will start allowing clients to invest in cryptocurrencies later this year, the U.S. digital wealth manager said on Wednesday, in the latest sign of growing acceptance of digital assets by mainstream finance. Starting this week, users will also be able to build their own portfolio from a range of ETFs vetted by the Wealthfront team, the company said. The moves mark a notable shift for the Palo Alto, California-based startup, whose investment strategy has traditionally been more conservative and long term, automatically allocating client assets into a set of ETF-based portfolios. Wealthfront, one of the largest digital wealth management firms known as "robo-advisers," will also allow clients to choose from a range of socially responsible investing options, it said. It did not specify which cryptocurrencies would be available. Dan Carroll, Wealthfront's co-founder and chief strategy officer, said the changes reflected a growing desire from Millennial and Gen Z investors to make some investment choices, as well as a broader push by financial technology startups to provide a wider range of services within their platforms. "Wealthfront will be the place to invest responsibly, not some Wild West arcade," Carroll said in an interview. "We can do it in a fiduciary way. We care what is in your best interests. We won't let you put 100% of your portfolio in crypto." The company, whose services are available to people in the United States, has around 440,000 clients and assets under management of about $25 billion, according to a spokeswoman. Its changes come amid a boom in retail trading of stocks and cryptocurrencies. Online platforms like stock app Robinhood and cryptocurrency exchange Coinbase Global Inc have seen business boom over the past year, as young homebound consumers took to buying and selling financial assets online during coronavirus lockdowns. The popularity of cryptocurrencies has exploded in lockstep with a surge in the price of bitcoin, as more mainstream financial firms ranging from PayPal Holdings Inc and Goldman Sachs Group Inc start offering the digital asset to clients. Bitcoin is up more than 87% since the start of the year at $54,423. Wealthfront portfolios will continue to be rebalanced automatically and users will be told what impact their investment choices have on the risk level of their portfolio, Carroll said. (Reporting by Anna Irrera in London; Editing by Jane Merriman and Will Dunham) || What Big Tech CEOs will tell an angry Congress about policing misinformation and extremism: [hotlink][/hotlink] Big Tech CEOs plan to defend their services against accusations that they have failed to root out hate and anti-vaccine hoaxes when they testify before Congress on Thursday. People want to see accurate information on [hotlink]Facebook[/hotlink], and so do we, CEO Mark Zuckerberg says in written testimony submitted ahead of the hearing to the House Energy and Commerce Committee, which is examining social medias role in promoting extremism and misinformation. Thats why we have made fighting misinformation and providing people with authoritative information a priority for the company. Many lawmakers from both parties want to crack down on Big Tech companies, which they say have become too powerful. They point to how extremists have used social media services to organize things like the U.S. Capitol riot in January or how anti-vaccine activists have spread misinformation about COVID. In response, the CEOs will stress that they will continue trying to eliminate harmful posts, though they admit their systems are imperfect. They will also emphasize the good their services do. Zuckerberg, a frequent congressional punching bag in recent years, will voice support for updates to Section 230 , the law that protects Internet services from being held liable for what their users post. Lawmakers, many of whom are upset by social media companies lax policing, have suggested changes to the law, including repealing it altogether. Instead of granting companies immunity, Zuckerbergs statement says, Congress should require them to prove that they have adequate systems, dependent on the services size, that identify and remove problematic content. However, he notes, companies should face no liability if some posts slip througha position that protects Facebook from consequences for missing problematic posts. Platforms should not be held liable if a particular piece of content evades its detectionthat would be impractical for platforms with billions of posts per day, Zuckerberg says. Story continues Meanwhile, Sundar Pichai, CEO of Google parent company [hotlink]Alphabet[/hotlink], will caution legislators against changing Section 230. Without the current protections, Pichai claims, Internet services would be forced to over-filter content or not filter content at all, harming both free expression and the ability of platforms to take responsible action to protect users in the face of constantly evolving challenges. Twitter CEO Jack Dorsey, based on his testimony, appears to be the most conciliatory by admitting that public trust in social media services like [hotlink]Twitter[/hotlink] is waning and then saying that his company intends to reverse that trend. As we look to the future, I agree with this committee that technology companies have work to do to earn trust from those who use our services, says Dorsey, who for years has said much the same thing in response to criticism. The CEOs appearance before Congress is just the latest in a string of hearings in recent years in which they have participated. They have testified about election integrity issues , antitrust concerns , and Section 230 . Hoping to downplay Facebooks role in spreading misinformation, Zuckerberg will hammer home the point that most people use the social network to stay connected, share ideas, have fun, and offer support. He will also emphasize that the vast majority of what people see on Facebook is neither political nor hateful. Dorsey discusses his companys focus on increasing transparency around Twitters moderating decisions, which the executive believes is one reason users may distrust the service. He will also speak about ensuring that users have a straightforward appeals process for any blocked posts, a message aimed at countering criticism from conservatives who say their views are being unfairly censored. Dorsey also touts Twitters work on two of its newest projects: Birdwatch aims to tackle misinformation with help from users. And Bluesky aims to create a decentralized form of governance for social media companies, similar to that of cryptocurrencies, which would remove some of the onus on companies like Twitter to be solely responsible for difficult enforcement decisions. More must-read tech coverage from Fortune : Intels CEO reveals new strategy : Go big or go home I felt like I was singled out. Two people who claim racial bias at [hotlink]Facebook[/hotlink] describe their experiences Slack users can now message anyone they please on the platform, even if they work at different companies You can now buy a [hotlink]Tesla[/hotlink] with Bitcoin at a staggering cost , critics warn Take a look inside the NFT house that sold for $500,000 and no, its not real This story was originally featured on Fortune.com || CBD of Denver Inc. (CBDD) Becomes One of the First CBD Companies to Accept Bitcoin and Other Crypto Currencies: Denver, Colorado--(Newsfile Corp. - March 30, 2021) - CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company ("CBDD") and a producer and distributor of Cannabis and CBD products in Switzerland, Europe, and the US, closed its first deals paid in Bitcoin and other popular crypto currencies. Rockflowr Group has integrated a process allowing them to accept Bitcoin and other popular Crypto Currencies as payment for CBD wholesale business. "We successfully closed our first transactions with Bitcoin this week following the global trend. All transactions work smoothly and at our client's satisfaction," reports CEO Marcel Gamma. "Because of this new payment method we will be able to further expand our customer base even more and become one of the biggest players in the European Market as several of our new potential clients have been waiting on this," states Pascal Siegenthaler, Managing Director Sales. Follow CBDD on Instagram: @SwissCBDTrading @Rockflowr @CBDofDenver_Inc @SwissGreenGrow @RockflowrRetail CBD of Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn. About CBD of Denver, Inc. CBD of Denver, Inc. (OTC: CBDD) a full-line CBD and Hemp oil company ("CBDD") and a producer and distributor of Cannabis and CBD products in Switzerland, Europa and US. CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis. Through our brand Rockflowr and BlackPearlCBD we reach our consumers and have built up a strong customer base by focusing on top quality products and meaningful customer relationships. Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry and only available at www.cbdofdenver.com Story continues Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason. Marcel Gamma info@cbdofdenver.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78917 || UK Watchdog Bans ‘Socially Irresponsible’ Bitcoin Ad: The U.K. Advertising Standards Authority (ASA) has banned abitcoinadvertisement from cryptocurrency exchange Coinfloor, labelling it “socially irresponsible.”
According to anannouncementby the ASA on Wednesday, the advert in the Northamptonshire Telegraph on Dec. 3 featured an elderly woman who encouraged the public to use Coinfloor to help build a bitcoin savings portfolio.
The woman, described as being 63 years old, said: “Today there is no point keeping [money] 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…”
Related:The Fed's Easy-Money Policies Are Here to Stay; What Does That Mean for Bitcoin?
The ASA said the ad was, “socially irresponsible because it suggested that purchasing bitcoin was a good or secure way to invest one’s savings or pension.”
The regulator added the complainant who challenged the advertisement said the ad targeted retirees and was “misleading” because it didn’t make clear the risks associated with investing in the cryptocurrency.
In a response to the complaint, Coinfloor said there had been a disclaimer in small print toward the bottom of the ad that stated, “Investing in cryptocurrencies involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose”.
“We considered the disclaimer was insufficient to counteract the overall message of the ad that buying bitcoin represented a secure investment, and given the font size and its positioning it had not been presented clearly or prominently enough to ensure consumers were made aware of the risk of loss of capital,” said the ASA.
Related:Are We Entering the Season of Altcoins?
Read more:Bitcoin Exchanges Flood London’s Metro With Adverts
Coinfloor also claimed the elderly woman featured was a customer who had expressed her own views on bitcoin investing in the ad, which “did not represent Coinfloor’s view.”
The ASA upheld the complaint, saying the ad was “misleading” because it didn’t make “sufficiently clear” that bitcoin prices could go down as well as up or that the bitcoin market is unregulated in the U.K., adding it was therefore in breach of advertising rules.
The ad can no longer be used by Coinfloor. The firm was warned it needs to make clear the risks of bitcoin investment in future ads.
• UK Watchdog Bans ‘Socially Irresponsible’ Bitcoin Ad
• UK Watchdog Bans ‘Socially Irresponsible’ Bitcoin Ad || Cardano Blockchain Achieves 100% Decentralization – Community Now Controls All Block Production: In what IOHK describes as a milestone that will go down in history, the Cardano blockchain is now completely decentralized. What Happened: This means that the community, or the network’s 2200 stake pool operators, are now exclusively responsible for block production on the network. LEVEL UP! So there we have it, 100% decentralized block production on #Cardano . Thank you to each and every SPO and developer out there who has brought us here, helping build, run & grow #Cardano . This is a great moment. And we're still just getting started. Over to you... pic.twitter.com/MexAv3HhNP — Input Output (@InputOutputHK) March 31, 2021 In contrast to Cardano, Bitcoin’s blockchain is largely in the hands of the ten most prominent Bitcoin mining pools, which account for 85% of the network’s block production. Why It Matters: Diversifying the block production across a larger number of people increases the security of the blockchain, as it reduces the likelihood of a 51% attack, or a few bad actors gaining control of the network. According to Aparna Jue , Cardano’s product director at IOHK, “Achieving decentralization of block production is significant not just for Cardano but also the wider blockchain industry.” Now that decentralization of block production has been achieved, the next steps will be decentralization of the other two elements - governance and network. On the governance front, the blockchain has already made strides with its Project Catalyst – an $80 million fund that was funded by the community, that in turn, votes on proposals for the improvement of the network. Meanwhile, the blockchain’s native cryptocurrency ADA traded higher at $1.20 at press time. ADA has rallied over 566% since the beginning of the year and is currently the fifth-largest cryptocurrency by market cap. Story continues See more from Benzinga Click here for options trades from Benzinga Coinbase Goes Public April 14: What You Need To Know The Weeknd Drops His Exclusive NFT Collection, And Only One Person Will Have Access To His Unreleased Song © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Traders Opting for Cash and Carry Strategy as Bitcoins Contango Widens: Savvy traders are locking returns of over 40% in the wake of bitcoin s widening contango the spread between prices in futures and spot markets, also known as futures basis/premium. With the premium on bitcoin futures expanding to as high as 40% per annum for the June expiry, there is a lot of interest from cash and carry traders to arbitrage the premium and lock-in risk-free gains, Pankaj Balani, co-founder and CEO of the Singapore-based Delta Exchange, told CoinDesk in a WhatsApp chat. Cash and carry arbitrage is a market-neutral strategy aimed to profit from price discrepancies in one or more markets. Related: BitRiver Is Selling Tokens to Build More Bitcoin Mining Farms in Siberia It involves buying an asset in the spot market against a short position in the futures market when the futures draw a significant premium relative to the spot price. That way, traders pocket a fixed return, as the premium decays over time and converges with the spot price on the expiry date. According to data source Skew, bitcoins June expiry futures listed on major exchanges such as Binance, Huobi, OKEx, BitMEX and Deribit are currently drawing an annualized premium of 44% to 48%. Meanwhile, those listed on the Delta Exchange are trading at a premium of 30%. So, a carry trade taken now will yield an annualized return of 44% to 48% a number significantly higher than interest rates on crypto deposits offered by lending platforms such as Genesis and BlockFi or government bond yields in emerging economies. Thats what we initiated today, Patrick Heusser, head of trading at the Swiss-based Crypto Finance AG, said in a Telegram chat, adding that the widening of the basis indicates bitcoins latest breakout above $60,000 is derivatives driven. Related: Square-Led COPA Sues Craig Wright Over Bitcoin White Paper Copyright Claims CoinDesk 20 data shows bitcoin broke out of a multi-week consolidation early Saturday with a sudden $3,000 rise to $61,065. Futures premium on major exchanges increased along with the spot market price, rising from roughly 32% to over 40%. Some analysts are now eyeing the weekly close (Sunday, 23:59 UTC). BTC is back over $60,000! If we can close the week above here, then moon time, analyst Lark Davis tweeted early today. However, market chatter shows growing concerns regarding the uptick in perpetual futures funding rate the cost of holding long positions calculated and paid every eight hours. As such, the cryptocurrency may have a tough time securing a daily or weekly close above $60,000. Story continues At press time, bitcoin is changing hands near $59,700. Also read: Bitcoin Price Shoots Past $60K, Ether Hits New All-Time High in Early Saturday Trading Related Stories Traders Opting for Cash and Carry Strategy as Bitcoins Contango Widens Traders Opting for Cash and Carry Strategy as Bitcoins Contango Widens View comments || Venmo Users Can Now Buy and Sell Digital Currency: Venmo,Paypal’s mobile app, announced the launch of crypto on Tuesday. According to Venmo, customers can now view cryptocurrency trends, buy or sell crypto and access in-app guides and videos to learn more about digital currencies. Users have access to four types of cryptocurrency: Bitcoin, Ethereum, Litecoin and Bitcoin Cash — with a minimum spending requirement of $1, reports CNBC.
See:Modern Money Etiquette — Should You Make Your Venmo Transactions Private or Public?Find:10 Best Cryptocurrencies to Invest in for 2021
“Crypto on Venmo is a new way for the Venmo community to start exploring the world of crypto, within the Venmo environment they trust and rely on as a key component of their everyday financial lives,” said Darrell Esch, senior vice president and general manager of Venmo. “Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have,” he said.
Venmo is one of the most popular digital payment services in the U.S. with 70 million users. The service is especially popular among younger Americans to make payments or split purchases, reports CNBC.
See:Want to Invest in Bitcoin but Don’t Know How? We’ve Got You CoveredFind:PayPal Finally Welcomes Bitcoin, More Cryptocurrencies
According to the 2020 Venmo Customer Behavior Study, more than 30% of customers have started purchasing crypto or equities. Of those customers, 20% started during the pandemic. Crypto popularity is steadily rising in 2021. CNBC reported that Tesla bought $1.5 billion worth of Bitcoin earlier this year, and Paypal agreed to buy Curv, a cloud-based wallet that offers digital asset security, for nearly $200 million.
Venmo stated that crypto is enabled through Paypal’s partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services. “I’m extremely proud we built the platform that powers PayPal’s cryptocurrency service. PayPal shares our commitment to building an open, digital economy,” Charles Cascarilla, Paxos co-founder and CEO, wrote in an October 2020 blog on the company’s website.
Crypto on Venmo began its rollout on Tuesday and it will be available to all customers directly through the Venmo app within the next several weeks.
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This article originally appeared onGOBankingRates.com:Venmo Users Can Now Buy and Sell Digital Currency || What’s Driving Ether to Record Highs?: The Ethereum 2.0 network had its first major incident on Saturday, April 24. A bug was discovered in the software client, Prysm, that prevented roughly 70% of validators on the network from producing blocks.
As background, there are four main Eth 2.0 software clients: Prysm, Teku, Lighthouse and Nimbus. In order to become a validator and earn rewards on the network, a user must download and run one of these software clients on his or her computer device.
On Saturday, the Eth 2.0 software client Prysm failed to properly ingest data from the Ethereum blockchain and, as a result, caused all validators running the Prysm client to miss out on block rewards.
Related:What’s Driving Ether to Record Highs?
Prysmatic Labs, the developer team behind Prysm,tweeted that theincident caused about 15ETHto be lost in total. On average, each individual validator running the Prysm client lost about 122,950 gwei, which is worth roughly $0.30 in today’s prices.
No validators were slashed in this process, meaning no users were forcefully removed from the network for malicious behavior. The damage was limited to missed validator rewards.
The incident lasted roughly two hours, where more than 403 blocks were missed. Since then the Prysmatic Labs team has issued a new version of the software with this bug fixed.In a Discord message, co-lead developer at Prysmatic Labs Raul Jordan stressed that all users running Prysm should update their software “immediately.”
“We would neither make an announcement nor a hotfix if we did not have the highest level of confidence in a resolution,” Jordan said.
Related:Polygon Launches $100M Fund to Support DeFi Adoption
Any validator who has not yet upgraded to the latest version of Prysm is at risk of missing out on network rewards. While the impact of this bug was most widely seen on April 24, evidence of it appeared on a smaller scale as earlyas Jan. 20and as recently as April 25.
For all Eth 2.0 validators who are not running Prysm client software, there is no action needed. CoinDesk’s validator, nicknamed “Zelda,” is run on Lighthouse client software. As a result, we saw little to no change in our daily validator operations and rewards.
One of the biggest lessons to come out of Saturday’s incident,according to Teku developer Ben Edgington, is for “everybody to take client diversity seriously.” It’s difficult to predict when and how another bug in Eth 2.0 client software could be discovered, but what can be controlled is the extent of the damage.
By reducing the percentage of validators running the Prysm client down from 70% and boosting the use of other Eth 2.0 clients, validators and developers can be assured these types of bugs only impact a minority of users on the network.
“If you are running the majority client (which happens to be Prysm right now), then this is your call to action!” Edgington said.
Friday, April 23, the founder of Ethereum, Vitalik Buterin, gave a presentation at theScaling Ethereum Summiton the development roadmap of Ethereum after its merge to proof-of-stake (PoS).
In his presentation, Buterin outlined an ambitious three- to five-year plan for subsequent upgrades and optimizations to Ethereum, even after the network has fully transitioned to an environmentally friendly and energy-efficient PoS protocol.
Here are some of the highlights:
Developers are currently estimating the merge will be activated through a backwards-incompatible, system-wide upgrade, also called a “hard fork,” by the end of this year or early next year.
Buterin described the need for a “post-merge cleanup [hard] fork” to happen shortly after the code release.
“It’s not very feature full, not very sexy, but cleanup has to be done. It is the technical debt that has to be paid once this accelerated merge is finished,” said Buterin.
Due to the expedited timeline for activating PoS on Ethereum, there will be redundancies and network inefficiencies that developers are overlooking for the sake of pushing out the upgrade faster.
Once the merge is complete and the network has stabilized, the post-merge, cleanup hard fork will address unnecessary legacy features of a hybrid proof-of-work (PoW) and PoS model. It will also enable new, long-awaited functionalities for validators on Eth 2.0, such as the ability for withdrawals and transfers of their ETH.
Then comes another long-awaited feature on Ethereum: sharding.
Sharding expands Ethereum’s capacity to process transactions by splitting its database into 64 new mini-blockchains. These mini-blockchains or “shards” are able to process transactions and data in parallel. Along with sharding, rollups are a way to condense multiple transactions and reduce their size on any given shard.
With 64 shards simultaneously processing Ethereum transactions and each shard leveraging rollup technology to further optimize the speed at which these transactions are written onto blocks, the issue of high fees and network congestion is finally expected to be resolved for the long term.
Because of the potential dangers and risks associated with Ethereum’s “most promising strategy” for long-term scalability, Buterin highlighted the need to have it as a separate upgrade from all the rest.
“We don’t want to do all the potentially dangerous things at the exact same time. You want to do the first one [Ethereum’s merge to PoS] and then the other so that developers can pay attention and focus,” Buterin said.
With PoS and sharding both implemented, the next step is to make further tweaks to enhance the security of the Ethereum protocol. This includes adding anonymity features to mask validator identities behind block proposals. It also includes leveraging new technologies such as theVerifiable Delay Function (VDF)to further secure the randomness by which validators are assigned their responsibilities and thereby make it harder for malicious actors to disrupt the network.
After boosting the robustness of Ethereum’s PoS protocol and shards, Buterin’s suspects developers will begin tackling “medium-term” agenda items, the most important of which, in my view, is the issue of Ethereum’s state.
Ethereum’s state keeps records of all Ethereum accounts, their data and their transaction history. As new user accounts and smart contracts are deployed on Ethereum, the size of Ethereum’s state grows larger and larger. By Buterin’s estimates, state size grows by roughly 30 GB each year. Withthe latest gas limit increaseit’s more likely to grow even faster, up to about 35 GB each year.
Ideally, anyone should be able to spin up their own computer, also called a node, and verify the transaction history of Ethereum. The more independent nodes there are in operation, the more decentralized and secure a blockchain network is. Ethereum’s growing state makes it more time-consuming and resource-intensive for the average user to spin up their own node.
In addition, a large database that takes longer and longer to verify also becomes more vulnerable to distributed denial of service (DDoS) attacks, which are aimed at taking advantage of a network’s limited resource capacity and overwhelming it with more data than it can handle.
For all these reasons and more, developers are working on solutions to deal with the issue of Ethereum’s state size. One solution called “statelessness” suggests creating two distinct classes of Ethereum nodes. Some would be free of any responsibilities to store state data, while others would be responsible for storing all of it. Another solution, called “state expiry,” suggests reducing state size by archiving parts of Ethereum’s state that are more than a year old.
“This sounds crazy but it’s actually easier to do both at the same time than it is to do either just statelessness or just state expiry, which is interesting. So [this is] a big project. It does have quite a bit of complexity but it has a lot of value [and] potential to do some important good for the ecosystem,” Buterin said.
Casper CBC.SNARKs.Quantum resistance. The list goes on.
I haven’t begun to scratch the surface of all that Buterin detailed for his vision of Ethereum’s future roadmap post-merge. With all its breadth, it sounds as if it would need a lot longer than a few years to complete.
Even with a successful activation of PoS, Ethereum is a far way off from going into “maintenance mode” and reaching the same level of protocol stability the Bitcoin network presently maintains.
The main takeaway from this new and updated roadmap for Ethereum’s development is that a transition to PoS is just the beginning. It’s the starting point, rather than the finish line, with still more significant protocol-level changes yet to come on the network.
• How to visualize a merged, data-sharded Ethereum (Blog post,Barnabé Monnot)
• Binance to launch an NFT marketplace this June (Article,CoinDesk)
• Bitmain to release the Antminer E9 ASIC for Ethereum mining (Article,CoinDesk)
• Polygon price climbs to a record high, benefiting from Ethereum network congestion (Article,CoinDesk)
• How a hacker tried to fake the world’s most expensive NFT (Article,CoinDesk)
• An update from all the teams supported by the Ethereum Foundation (Blog post,Ethereum Foundation)
• On staking pools and staking derivatives (Blog post,Paradigm Research)
Feel free to reply any time and email christine.kim@coindesk.com with your thoughts, comments or queries about today’s newsletter. Between reads, chat with me onTwitter.
Valid Points incorporates information and data directly from CoinDesk’s own Eth 2.0 validator node in weekly analysis. All profits made from this staking venture will be donated to a charity of our choosing once transfers are enabled on the network. For a full overview of the project, check outour announcement post.
You can verify the activity of the CoinDesk Eth 2.0 validator in real time through our public validator key, which is:
0xad7fef3b2350d220de3ae360c70d7f488926b6117e5f785a8995487c46d323ddad0f574fdcc50eeefec34ed9d2039ecb.
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• Binance’s Stock Tokens May Violate Law, Germany’s Financial Watchdog Says
• Federal Reserve Keeps Rates Near Zero, Maintains Asset Purchases, Sees Inflation as ‘Transitory’
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63
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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)]
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 || Only 802 People Told the IRS About Bitcoin—Lawsuit: The Internal Revenue Service revealed new details about itsinvestigationinto tax evasion related to bitcoin, filing court documents that suggest only a tiny percentage of virtual currency owners are reporting profits or losses in their annual returns.
The new documents, filed Thursday in San Francisco federal court, come in the midst of a closely-watched legal fight between the IRS and Coinbase, a popular service for buying and selling bitcoins that hosts over a million customer accounts.
The dispute began last year when the IRS issued a sweepingsummonsfor Coinbase to turn over a vast amount of customer data, including every customer account as well as detailed transaction records.
Coinbase claimed the IRS demands are illegally broad and refused to comply, which in turn led the IRS to file a federal lawsuit last week to enforce the summons.
Jurors Weigh Charges Against a Pastor and Software Engineer in Bitcoin Trial
While the lawsuit did not come as a surprise, a newaffidavitfrom IRS agent David Utzke reveals additional information about how the agency is conducting the investigation. Specifically, Utzke explains he ran a computer analysis against the IRS’s repository of hundreds of millions of tax records, and found fewer than a thousand people filed a Form 8949 to account for a “property description likely related to bitcoin.”
Form 8949 is used to report capital losses and capital gains and, under current IRS rules, would require bitcoin owners to declare their profits. In some cases, the profit could be significant given the virtual currency soared from $13 to over $1,100 during the three year period (2013-2015) for which the agency is seeking information.
Here is a paragraph from Utzke’s affidavit that states only 802 individuals filed a bitcoin-related Form 8949 in 2015(emphasis mine):
The IRS searched the MTRDB for Form 8949 data for tax years 2013 through 2015. I received the results of those searches. Those results reflect thatin 2013, 807 individuals reported a transaction on Form 8949 using a property description likely related to bitcoin; in 2014, 893 individuals reported a transaction on Form 8949 using a property description likely related to bitcoin; and in 2015, 802 individuals reported a transactionon Form 8949 using a property description likely related to bitcoin.
It’s impossible to know what percentage of Coinbase customers these numbers represent, but it’s likely only a small fraction. Even though some Coinbase accounts belong to non-U.S. citizens, and many others did not have any transactions (and therefore did not trigger any capital gains), it’s possible an IRS review of the accounts could identify hundreds of thousands of individuals who should have declared bitcoin income.
In a Fridayblog post, Coinbase said it has yet to turn over any information, and that it would push back against the scope of the summons.
“Coinbase remains concerned with the indiscriminate and over broad scope of the government's summons and we have produced no records under the summons,” wrote Coinbase lawyer, Juan Suarez.
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The company has previously described the IRS probe as unreasonable, noting the agency would not approach other financial institutions like JP Morgan or and demand every single of their customer records.
In January, Coinbase CEO Brian Armstrong complained the legal fight could cost his company up to $1 million, and that he would prefer to spend the money hiring employees. Armstrong at the time also offered an olive branch to the IRS, saying Coinbase is ready to provide customers with 1099-B forms, which are used by brokerages and others to help customers report their taxes.
Following news of the IRS tax probe, onevirtual currency lawyer saidthe agency’s demand simply represented an opening gambit for negotiations--and that it that would end with Coinbase providing a far more narrow set of information.
A person close to Coinbase, who was not authorized to speak for attribution, confirmed toFortunethe company and the IRS have been in talks, but also expressed surprise the agency has so far refused to narrow its demands.
A spokesperson for the IRS said the agency cannot comment on specific investigations.
The upshot of all this is that many Coinbase customers are likely to feel uneasy since the investigation could eventually lead them to owe back taxes or penalties, or even see the IRS seize their accounts.
Bitcoin Prepares For an Ugly Breakup
Meanwhile, Coinbase isn’t the only one taking issue with the IRS’s bitcoin stance. A Los Angeles law firm, Berns Weiss,sued the IRS last year, complaining the agency’s summons swept up one of the firm’s partners, Jeffrey Berns, who held bitcoin at Coinbase, but had never sold it. The firm had to drop the lawsuit after the IRS told Berns he would not be a target of the investigation--but has since vowed to resume the legal battle.
“We will, however, continue our efforts to protect the rights of Coinbase customers regarding this patently overbroad summons. Thus, we plan to file a motion to intervene in the enforcement proceeding on behalf of other Coinbase customers who have contacted us and expressed their interest in fighting the summons,” saidthe firmin a statement.
Finally, it’s unclear if the IRS is also targeting other virtual currency operators. While Coinbase is the most popular and mainstream bitcoin platform, there are numerous others. Meanwhile, thegrowing value of other virtual currencies, including Ethereum, mean firms that offer such currencies could soon find themselves in the cross-hairs of the IRS too.
An earlier version of this story incorrectly referred to the IRS form on one occassion as Form 8948 not 8949. It has been updated.
See original article on Fortune.com
More from Fortune.com
• Why Coinbase's Cofounder Is Moving On
• New York Warms Up to This Bitcoin Exchange With New License
• Bitcoin Battle Heats Up as Coinbase Moves to Fight IRS Demand
• Legal Sparring Continues in Bitcoin User's Battle with IRS Tax Sweep
• Customer Sues IRS to Halt Probe of Coinbase Bitcoin Accounts || How Sears Ruined Its CEO Eddie Lampert’s Hedge Fund: As if in sympathy with his dying retail giant, Sears CEO Eddie Lampert’s hedge fund has sunk perfectlyin line with Sears’ own decline.
While shares of fell nearly 55% in 2016amid bankruptcy rumors, the assets in Lampert’s 29-year-old fund ESL Investments have dwindled a matching 55% in the same period.
Sears, making up about a third of Lampert’s portfolio, was a major contributor to the the hedge fund’s shrink, but investors have also abandoned the fund recently, taking their money with them. By the end of 2016, Lampert’s fund held a mere $653 million--a sizable decline of 94% from the $16.5 billion it once managed atSears’ peak in 2007, according to securities filings.
Lampert’sturnaround planfor Sears has so far not only failed to bring the struggling retailer back to health, but it has also been a personal disaster for the investor’s net worth. Lampert’s fund held $3.8 billion when he became CEO at the beginning of 2013, but those assets have dropped 84% since then, aFortuneanalysis found--even greater than Sears’74% drop in the same period.
Wilson’s stake in Sears, along with Sears Canada, once worth billions of dollars, is now valued at just $285 million.
At least part of the reason Lampert’s losses outpaced those of Sears’ was due to the hedge funder significantly paring down stakes in his two other major holdings, and Gap . Neither or those stocks have done well since 2013, with Gap down 39% by the end of 2016, and AutoNation down 3.3%. The flagging performance has also prompted Lampert’s shareholders to pull their money out of the fund, according to theNew York Times.
This was not how Lampert, who hassworn his resolve to saveSears,envisioned how his investment would play out. Lampert had become a majority Sears stakeholder in 2004, and later helped engineer the company’s merger with Kmart in early 2005. By the time the merger had been completed, Lampert’s stake in Sears was worth $8.6 billion, amounting to a massive 72% of his portfolio. And that wasn’t the end of its glory days. By early 2007, those same shares had grown 29% in value to $11.1 billion--or 67% of his portfolio at the time.
Butwhen the financial recession hit Sears, as it did with other retailers, Lampert’s own fund suffered heavily. And now, the investor and CEO appears to be losing faith in the idea of ever making his money back: Searsacknowledged last week that “substantial doubt exists”in its “ability to continue as a going concern.”
See original article on Fortune.com
More from Fortune.com
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• Principal Financial Group Just Accused This Hedge Fund of Hiding Investments with Bernie Madoff
• Robots Are Replacing Humans at All These Wall Street Firms || Tax Day 2017: Poem for When Taxes Are Due and It's the Last Day to File: It’s the day before Tax Day: Have you filed your taxes yet? If not, you’re not alone. The Internal Revenue Service says there were as many as 40 million people who had yet to file their tax returns late last week, just before April 15 (which fell on a Saturday this year). Waiting until the last minute, of course, is practically an American pastime: as many as 25% of taxpayers file in the last two weeks before the deadline, according to the IRS. But U.S. filers are especially late this year , which means that procrastinators will have their work cut out for them this week: The tax deadline for 2017 is tomorrow, April 18, at midnight (Eastern time). With those of you in mind, we thought we’d ease your pain by creating a lighthearted diversion: A true story about Tax Day 2017-set to rhyme. From the problems plaguing the people who collect your taxes, to the hopes of at least some in Donald Trump’s administration-namely, Treasury Secretary Steven Mnuchin-to make Tax Day better (not only with tax cuts but with other reforms), this poem has everything you need to know, whether you’re settling your tab with the government or expecting an ample refund. Please enjoy, even if you don’t enjoy paying Uncle Sam. Make Tax Day Great Again Twas right before Tax Day When the word got around Changes were coming A new boss was in town . Secretary of the Treasury, Mnuchin was his name ; He would oversee the IRS, From Goldman Sachs he came. But on Wall Street they knew little Of the troubles the taxmen had For all its fearsome power Could the IRS really be this bad ? Its problems were increasing ; They were under attack; Not just from politicians, But also from hack after hack . “I was surprised,” Mnuchin cried, “30 percent staff cuts in such a short time! Why can’t doing our taxes be Just as easy as going shopping online ?” To make matters worse People were late to pay Hoping that Trump Would make their taxes go away. Ignorant as he was Of why it’s still so hard to file, Mnuchin hoped that Congress Would help on both sides of the aisle. Story continues Politicians laughed at the banker; And as the taxmen processed the news, “We thought you wanted to abolish us!” They said, “Haven’t you heard of Ted Cruz ?” But the Secretary had a vision As he surveyed his new domain And he pledged to pursue a new mission: To make the IRS Great Again! But as Tax Day got closer Some hurdles came to arise When Trump unfurled his budget There was another surprise. Mnuchin did not get his wish For enough money to hire, The proposal was just more cuts ; The funding was even more dire. “No matter,” said Mnuchin As the IRS begged for deliverance, As cheap e-filing increases, “It’ll surely make up for the difference!” By then the Secretary was on board With the President’s ambitious plan None of it would even matter Til tax reform was law of the land. For filers, there was one small reprieve: Amid the tax prep rush, a holiday fell between Meaning this year’s taxes are not due On their usual deadline of April the 15. “Take the weekend,” IRS said: “Tax Day’s the 18th; that’s a Tuesday. If you needed an extension, Forget about it, you’re excused, k?” But a different deadline was looming In the mind of Steven Mnuchin; His boss wanted tax cuts by August; So far there was only confusion . “ I’m going to cut taxes big league ,” Was the promise Donald Trump made: “Those companies who moved to Europe? How they will all wish they had stayed!” “We’ll slash rates for corporations, For individuals, we’ll whack it, Americans’ tax’ll be so low, You won’t even have the same bracket .” The price of making it happen, though? It may be the Border Adjustment Tax . Meanwhile, Americans dreamed of refunds, The size of bonuses at Goldman Sachs. That could take a while , Mnuchin knew, And Trump, after all, kept changing the deal; One minute he wanted tax reform, Now he wants Obamacare repeal? Plus, it had also become harder To convince some people it was fair That they had to file their tax returns When the President’s were God know’s where . Many people hadn’t paid what they owed; It became clear there were far too few: Bitcoin investors who disclosed profits Numbered a mere eight-hundred-and-two . Mnuchin had to find the answer The U.S. can’t afford to lose this bet; To pay for Trump’s infrastructure plan The country needs every cent it can get. Maybe we would collect more money, The Treasury Secretary mused, If filing were a bit easier, The tax laws wouldn’t be so abused! Finally, the key to fixing the state; Mnuchin may have discovered the clue: If you want to make America great, We’ll also need a better Tax Day too. For more Fortune poetry, see the week’s news review in haiku . This article was originally published on FORTUNE.com || 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) || Your first trade for Tuesday, March 14: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan Chase (NYSE: JPM) . Brian Kelly was a buyer of Intel (NASDAQ: INTC) . Steve Grasso was a buyer of Citigroup (NYSE: C) . Guy Adami was a buyer of Goldman Sachs (NYSE: GS) . Trader disclosure: On March 13, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso's firm is long CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. No Shorts. Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY. Short: Yen, US Treasury Bonds. Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim Seymour's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. More From CNBC Trading tech stocks after Intel/Mobileye deal Ackman to CNBC: 'I should have sold' Valeant earlier Valeant's biggest champion sells entire stake || Trades to make after the US airstrike in Syria fails to shake investors: The "Fast Money" traders break down their market moves Friday after a flurry of political headlines during the week, including a Thursday U.S. airstrike on Syria , failed to shake investors. Trader Steve Grasso said he's stepping away from the market because he is "waiting for this [it] to crack." He said he sold Qualcomm (NASDAQ: QCOM) and Micron Technology (NASDAQ: MU) , but he is still invested in housing stocks and positioned for impending mergers and acquisitions across the market. Grasso said he will return to the market if the S&P 500 (INDEX: .SPX) jumps over 2400 points on substantial data that's more than just sentiment. The S&P closed at 2355.54 points on Friday, down 0.08 percent. Trader David Seaburg said he was impressed by the resilience of the market following the U.S. airstrike on Syria. He said he likes the healthcare (NYSE Arca: XLV) and technology (NYSE Arca: XLK) sectors. He said merger and acquisitions should accumulate in the technology space. Trader Brian Kelly said he will continue to ride high with Wal-Mart (NYSE: WMT) . The retailer was upgraded by a Telsey Advisory Group analyst on Friday and saw the company's shares saw a 2 percent gain. He said he got into Wal-Mart because he continues to believe the possible border adjustment tax will not become law. The iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) sector earned favor from Guy Adami with its consistent move higher. The exchange-traded fund is up over 3 percent in the last 3 months. Adami also said he likes Wal-Mart. He said the stock should continue its climb and outperform Target (NYSE: TGT) . Disclosures: Steve Grasso's firm is long AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, OLN, PFE, PHM, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts. "Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore" Story continues Brian Kelly is long Bitcoin, FXI, HLF, TSLA, WMT, XBI. Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC Newsmax CEO: Might be appropriate for Trump to take military action against Syria Trades to make in an uncertain market How to trade the French election || Yes, Some Businesses Still Run Microsoft’s Much-Maligned Windows Vista: A new survey shows that a sizable percentage of businesses are still running Vista, the problem-plagued version of Windows that launched 10 years ago and Microsoft stopped supporting as of this week. Some 9% of companies surveyed by business software maker Spiceworks are still running at least one instance of Windows Vista. More striking is that more than half of the businesses surveyed--52%--have at least one PC running Windows XP, an even older, albeit more respected, version of Windows. ended support of Windows XP, which debuted in 2001, in 2014. Other Spiceworks data reveals Windows XP is running on 14% of all business PCs worldwide. Windows Vista has much lower penetration there, running on just 1% of the PCs tallied. Meanwhile, eight-year old Windows 7 runs a whopping 69% of all business PCs worldwide. Get Data Sheet , Fortune 's technology newsletter. The figures come from Spiceworks’s recent 2017 OS Adoption Trends report, which examined anonymized data collected from “hundreds of thousands” of IT professionals who use Spiceworks software to manage their networks. The company supplemented that by surveying 461 information technology professionals. A whopping 90% of those surveyed said they worry about the risks posed by the use of old, unsupported operating systems which are easier to attack and more susceptible to malware. That puts both corporate and personal data at risk. It’s hardly unusual for people to put off upgrading their software. One reason is that change is hard and disruptive. Updates of one product can break other products. Another reason is that upgrades cost companies--and their employees--money and time. But the risks of failing to update operating systems (or other software) are real. Stats like these are fodder for Microsoft , which is always pushing users to get up to date. Last year, other Spiceworks research showed that the current Windows 10 release had been adopted by 54% of organizations surveyed, up from 38% last July. Windows 10 launched in July 2015. Story continues See original article on Fortune.com More from Fortune.com These Investors Bought the Firm Behind Bitcoin's Self-Proclaimed Inventor Google Home Can Now Track Flight Prices FCC Could Announce Broadcaster Auction Results on Thursday Amazon Is Opening Up This Echo Feature to Other Manufacturers One of Twitter's Top Engineers Left the Company Last Month || 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 miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differentlyin one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into blocks, and its the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the block reward. This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at todays prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoins early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesnt include revenue from selling mining equipment, or providing cloud mining services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesnt account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners revenue, but theyve shot up this year as the number of transactions gets closer to the bitcoin networks limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the civil war that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoins civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Heres the best way to guess correctly on a multiple choice test
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Trend: up || Prices: 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13
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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 2018-02-09]
BTC Price: 8736.98, BTC RSI: 40.27
Gold Price: 1313.10, Gold RSI: 44.93
Oil Price: 59.20, Oil RSI: 32.52
[Random Sample of News (last 60 days)]
Canadian National Railway Gathers Steam for 2018: Canadian National Railway(NYSE: CNI)released its fourth-quarter and fiscal 2017 numbers on Jan. 23 after market close, and the market doesn't seem too happy with the results. That's despite the railroad giant reporting a whopping 156% year-over-year jump in its fourth-quarter net income. The market has become smarter to not take every number at face value. After all, rivalCanadian Pacific Railway(NYSE: CP)also saw astrikingly similar growthin its net profit in the last quarter.
Digging deeper into Canadian National's earnings report gives a feeling that it was a slow quarter, but management's outlook for 2018 and growth plans continue to remind investors that CN, as the company is popularly known, remains along-term growth story.
Below is a snapshot of the key numbers from CN's fourth-quarter earnings report. Note that all numbers in the tables below are in CN's reporting currency, Canadian dollars:
[{"Metric": "Revenue", "Q4 2017": "$3.29 billion", "Q4 2016": "$3.22 billion", "Year-Over-Year Change": "2%"}, {"Metric": "Net income", "Q4 2017": "$2.61 billion", "Q4 2016": "$1.02 billion", "Year-Over-Year Change": "156%"}, {"Metric": "Earnings per share (diluted)", "Q4 2017": "$3.48", "Q4 2016": "$1.32", "Year-Over-Year Change": "164%"}, {"Metric": "Earnings per share (adjusted)", "Q4 2017": "$1.2", "Q4 2016": "$1.23", "Year-Over-Year Change": "(2%)"}, {"Metric": "Free cash flow (FCF)", "Q4 2017": "$457 million", "Q4 2016": "$777 million", "Year-Over-Year Change": "(41%)"}, {"Metric": "Operating ratio", "Q4 2017": "60.4%", "Q4 2016": "56.6%", "Year-Over-Year Change": "(3.8%)"}]
Data source: Canadian National Railway. Exchange rate as of Jan. 24, 2017: CA$1=$0.81.
Let's drill into those numbers to see what they mean.
Image source: Getty Images.
The number that stands out in the above table is the sharp jumps in CN's net income and earnings per share (EPS). It was an exceptional quarter as the company benefited from a deferred income tax recovery of CA$1.76 billion, thanks to a lower U.S. corporate tax rate. Canadian Pacific's earnings last quarter also surged for the same reason.
Adjusting for the one-time gain, CN's net profit declined 6% and adjusted EPS dropped 2% year over year. Higher operating expenses, partly because of higher fuel and harsh weather-induced costs, were to blame. That explains why CN's operating ratio -- which measures its operating expenses versus revenue and denotes efficiency -- rose to 60.4% during the quarter. A higher ratio is negative, as the table above reflects.
From a sales perspective, CN is on a strong footing:
• CN's carloadings, or the total amount of freight carried, rose 11% year over year.
• Metals and minerals and intermodal were the strongest markets, delivering double-digit growth in sales on a constant currency basis.
• While coal, automotive, and forest products saw sales rise single-digit percentages, grain and fertilizers and petroleum and chemicals proved to be the weakest links.
• CN generated strong operating cash flow during the quarter, and its FCF slipped 41% year over year because of higher capital spending.
• CN increased its dividend by 10%.
For fiscal 2017, CN's revenue improved 8%, adjusted net income rose 6%, and FCF grew 10%. Its operating ratio stood at 57.4% for the full year, slightly higher than Canadian Pacific's ratio of 56.1%.
President and CEO Luc Jobin lauded CN's performance amid "rapidly changing market demands" and "challenging operating conditions," including harsh weather in the fourth quarter. Jobin remains bullish about 2018: "As the economic backdrop remains favorable in North America, we expect to see continued volume growth in 2018," he said.
CN is, in fact, witnessing strong demand from end markets, so much so that it's expanding its business to meet rising demand, which is adding to its operating expenses. To give you an example, CN's employee count during the third quarter climbed 7.6% to 23,945. Investors may recall that management hadbumped up its capital expendituretarget for FY 2017 to CA$2.7 billion during the third quarter.
2018 is expected to be an even bigger year for the company, as Jobin explained:
We remain focused on operational efficiency and providing quality service to our customers. In 2018 we are adding new train crews and increasing our capital program to a record [CA]$3.2 billion as we invest in locomotives and build additional capacity for resiliency.
While the bulk of its capital spending will go toward maintenance of its railway infrastructure, CN plans to spend roughly CA$1.2 billion on new equipment and the expansion of its capacity and track infrastructure.
Investors in CN should keep an eye on the company's operating ratio, though there's nothing to worry as long as the company is incurring costs to expand its business. Management aims to earn an adjusted EPS of CA$5.25-CA$5.40 in fiscal 2018, which represents a growth of 6.7% at the midpoint. That's nothing to sneeze that, as it indicates Canadian National is headed for another strong year.
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Neha Chamariahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Canadian National Railway. The Motley Fool has adisclosure policy. || Here's What's Lifting athenahealth, Inc. Today: What happened Shares of athenahealth, Inc. (NASDAQ: ATHN) are on the rise after the provider of network-enabled services for U.S. healthcare providers smashed through analyst estimates with a glowing fourth-quarter earnings report. The stock was up around 13.3% as of 11:28 a.m. EST on Friday. So what The average analyst was expecting athenahealth to report adjusted earnings of just $0.63-per-share profit in the fourth quarter. Instead, management delivered an adjusted profit of $1.11 per share, a whopping 79% gain over the prior-year period. Still life with stethoscope and money. Image source: Getty Images. Management deserves a pat on the back for using less to bring in more. In 2017, the company increased the number of providers on its network by 15% even though management shaved 1.7% off total selling and marketing expenses during the year. Now what Even though athenahealth isn't growing its top line as fast as in past years, spending less to sign up an impressive number of new customers suggests a network effect could accelerate profit growth in the quarters ahead and well into the long term. It's never been a better time to become an indispensable weapon in the fight against embarrassingly inefficient healthcare spending. Amazon.com , Berkshire Hathaway , and JPMorgan Chase are so fed up that they've combined forces to find technological solutions that will lower healthcare costs. JPHathazon will begin trying to lower costs for around 1 million of its own employees, at first. The initial announcement was light on details, but investors need to brace for the day the combined entity becomes a competitive threat or a suitor is willing to acquire athenahealth's rapidly growing business. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Cory Renauer has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and Berkshire Hathaway (B shares). The Motley Fool recommends Athenahealth. The Motley Fool has a disclosure policy . || Sears Holdings' Store Closures: No Problem for Seritage Growth Properties: Earlier this month, struggling retail icon Sears Holdings (NASDAQ: SHLD) announced yet another round of store closures . By early April, it will shutter 64 Kmarts and 39 full-line Sears stores. This might seem like bad news for Seritage Growth Properties (NYSE: SRG) . After all, the Sears spinoff still leases the vast majority of its property to Sears Holdings. However, only a small handful of the 103 stores being closed this spring are owned by Seritage -- and in most of those cases, Seritage probably wants the space for redevelopment purposes. Seritage is protected from Sears' meltdown -- partially In recent years, Sears Holdings has been closing stores at a rapid pace in a desperate attempt to stem its losses. It has also downsized some of its remaining Sears stores. An appliance showroom in a small-format Sears store Sears has radically reduced the size of some of its stores. Image source: Sears. Sears Holdings' master lease with Seritage Growth Properties has enabled these moves. Under the master lease terms, Sears has the right to terminate the leases for stores that aren't earning enough money to cover the rent. Given the sorry state of Sears Holdings' finances, a lot of its stores may fit this description. On the flip side, Seritage generally has the right to "recapture" 50% of the square footage in its properties (and 100% in some of them) in order to redevelop that space and lease it to new tenants that are willing to pay higher rents. Fortunately, the master lease prevents Sears Holdings from dumping a ton of unwanted real estate on Seritage all at once. It is limited to terminating about 20% of its leases with Seritage in any given year. Sears is also required to make a payment equal to one year of rent, taxes, and other operating expenses upon terminating the lease for any property. Looking at the latest round of store closures It doesn't look like Seritage will feel much negative impact from lease terminations related to the current set of Sears and Kmart store closures. In fact, none of the 64 Kmart stores being closed are leased from Seritage. Story continues Furthermore, five of the Sears stores that are closing were previously owned by a joint venture between Seritage and Simon Property Group . However, Seritage recently sold its 50% interest in those properties to Simon, collecting $68 million -- and relieving itself of the need to invest in redevelopment projects at those sites. The exterior of a Sears full-line store Seritage recently sold its interest in five Sears stores that are closing. Image source: Sears. As for the other 34 Sears stores that are closing, Seritage appears to own just six. Moreover, three of those -- in Anchorage, Alaska; Westminster, California; and Hicksville, New York -- are among the handful of properties for which Seritage has the right to recapture 100% of the space. Generally, those are prime sites for redevelopment. Thus, it is quite possible that Seritage initiated these store closures and already has redevelopment plans in the works. Seritage won't cry over the other three properties it is getting back, either. One is at the Town Center at Boca Raton in Florida, a thriving luxury-oriented mall that is home to Neiman Marcus, Saks Fifth Avenue, Bloomingdale's, Nordstrom , and Macy's . There will probably be lots of prospective tenants clamoring for space in a Seritage redevelopment project there. The remaining two Seritage-owned Sears stores that are closing are in Austin, Texas, and Orland Park, Illinois. During 2017, Seritage announced that it had signed leases for 45,000-square-foot, 10-screen movie theaters at both of those sites. Thus, redevelopment is already under way. Investors are underestimating Seritage Seritage Growth Properties stock has barely budged since being spun off from Sears Holdings in 2015. Many investors have stayed on the sidelines due to a fear that Sears Holdings is on the verge of bankruptcy. However, Sears is likely to stagger on for another year or two by selling additional assets to fund its cash burn. Moreover, Seritage has already made big strides in diversifying its tenant base. In a two-year span, it released 4 million square feet -- about 10% of its square footage -- at average rents that were more than four times what Sears Holdings had been paying. As Seritage completes more of its redevelopment activity, its rental income is set to soar over the next decade. Indeed, it is likely to replace all of the income it currently gets from Sears Holdings within a few years. As a result, Seritage Growth Properties could be a big winner for patient long-term investors. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of Macy's and Nordstrom. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy . || 5 Things FedEx Corporation's Management Wants You to Know About 2018: FedEx Corporation(NYSE: FDX)reported its fiscal second-quarter earnings a few days before Christmas. While it was easy to lose track of them in the festive merriment, they actually contained a lot of positive indicators for investors leading into 2018. Let's take a closer look at five key takeaways from the earnings presentations and how the company is set for the coming year.
FedEx and to a greater extentUnited Parcel Service(NYSE: UPS)have previously had issues dealing with thesurge in demandon certain days during the holiday season, but FedEx's commentary suggested it was fully on track this year. "From a service perspective, we are having the best peak ever at FedEx Ground," said COO David Bronczek on the earnings call. "I should add we are having the best peak ever at FedEx Express and FedEx Freight."
Image source: FedEx Corp.
Of course, this doesn't necessarily mean it will be the most profitable peak season ever, but it does imply FedEx is servicing peak demand in line with its plans. This matters because both companies can be forced to carry increased costs when they can't meet service levels. For example, a comparison of UPS's fourth-quarter adjusted operating profit and purchased transportation costs shows how increases in the latter -- necessary because UPS is using third-party transportation in order to ensure deliveries during peak demand -- shows how it can eat into profit.
Data source: United Parcel Service presentations. Millions of U.S. dollars.
The good news is, so far this holiday season, FedEx is managing to service peak demand at a high level.
In further good news, President Donald Trump's Tax Cuts and Jobs Act is expected to positively impact FedEx in two ways:
• Revaluation of FedEx's netdeferred liabilitieswould increase EPS by between $4.40 and $5.50 in 2018 according to CFO Alan Graf.
• CEO Fred Smith believes that "if the tax bill works as anticipated, there will be a significant growth in GDP" and this would help boost revenue and ultimately capital spending and hiring at FedEx.
There are twobig challenges facing UPS and FedEx. The first is maintaining margin in the face of burgeoning business-to-consumer (B2C) e-commerce deliveries -- they can be bulky, inefficiently packed, and expensive to deliver to residencies. The second is generating free cash flow growth in light of having to step up capital spending on networks in order to service e-commerce demand, particularly during peak demand.
Starting with margin, the good news is FedEx's ground margin expanded for the first time in over a year. Moreover, Smith declared he was confident FedEx could improve ground margin.
Data source: FedEx Corporation and United Parcel Service presentations. FedEx quarters are adjusted to the nearest UPS quarter. Measured in basis points where 100 bp equals 1%.
Regarding cash flow, CEO of FedEx Ground division Henry Maier claimed the company is "approaching a transition point" whereby the success of previous heavy investment would enable FedEx to start to "dial back network expansion." If true, then investors can expect cash flow generation to improve -- UPS and FedEx have seen cash flow generation fall as capital spending has risen in recent years.
FDX Free Cash Flow (TTM)data byYCharts
An earnings call with FedEx or UPS wouldn't be complete with a question on the potential threat fromAmazon.com(NASDAQ: AMZN)expanding its shipping business in order to compete directly with UPS and FedEx. Executive VP Rajesh Subramaniam pointed out that Amazon was a longtime FedEx customer and "no single" FedEx customer is responsible for more than 3% of its revenue. In other words, he's pointing out that FedEx is not reliant on Amazon for revenue.
However, Smith has previously talked about "fantastical" reports on the matter, which ignore the feasibility of Amazon building out the kind of network run by UPS and FedEx. In addition, investors in Amazon should take a close look at just how muchUPS and FedEx have been increasing spending on their networks. Moreover, there is enough e-commerce B2C volume to go around for potential shippers, in fact, the problem isensuring profitable deliveries and growing margin.
Stronger economic growth, favorable tax bills, and apickup in cargo growthall point to an improving end market for FedEx in 2018. Meanwhile, there are signs of potential margin expansion and increased cash flow generation. FedEx appears to be on top of its peak delivery requirements and the TNT express integration remains on track. The company is set for a good year.
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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.Lee Samahahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends FedEx. The Motley Fool has adisclosure policy. || Stock market outlook, December 15: Tax reform will remain the key focus for investors as the economic and earnings schedule slow down on Friday. The economics calendar will give investors readings on manufacturing activity in New York State and industrial production in the U.S. while the earnings calendar has no major reports due out. Investors will be closely watching developments out of Washington, D.C. into the weekend, however, as Thursday brought new challenges for Senate Republicans trying to get a deal on tax reform done by the end of 2017. On Thursday, Republican Senators Marco Rubio (R-Fla.) and Mike Lee (R-Utah) added new wrinkles to the current progress on getting a tax bill to President Donald Trump’s desk by the end of the year. Marco Rubio says he won’t support the current GOP tax plan. Rubio, who had previously discussed his displeasure with the bill leaving out an expansion to a child care tax credit, said Thursday he opposes the current deal while Lee said he is undecided. Tennessee Senator Bob Corker has also not said if he supports the current version of the bill. Senate Republicans can only afford to lose two votes to still pass the measure. S&P 3,000 On Thursday, strategists at JP Morgan unveiled their outlook for the stock market in 2018. And they’re bullish. The firm’s equity strategy team led by Dubravko Lakos-Bujas said Thursday that the investing environment in 2018 should remain supportive of further gains in the stock market. JP Morgan notes that global growth, low inflation, and easy monetary policy powered stock market gains around the world in 2017. And while these factors should remain in place next year, the firm sees the Trump administration giving investors another boost in 2018. “We believe progress on GOP/Trump policy initiatives (i.e. lower corporate taxes, reduction in regulatory burden) should be a significant source of upside for equities and drive further rotation from Growth to Value styles and across sectors,” writes Lakos-Bujas. “After two consecutive years of multiple expansion…we believe valuation will likely remain elevated and expected [the] S&P 500 to reach 3,000 by [year-end] 2018.” Story continues This forecast makes JP Morgan the second sell-side firm to put a 3,000 price target on the benchmark stock index for 2018, joining Oppenheimer. And this call supports the overall theme of Wall Street’s outlook on 2018, which is that it will be another good year for stock market investors. But Lakos-Bujas’ colleague at JP Morgan, Marko Kolanovic, cautioned in another note published Thursday that while 2018 might be another strong year for markets, risks should accumulate in the second half of the year. “Tail risk for equities and other risky asset classes will increase in 2018,” Kolanovic writes. “Our analyses point to significant impact of monetary stimulus removal on levels of risk premia across asset classes, levels of leverage, and valuations. However, asset classes may not react immediately, and like a ‘frog being boiled’ tail risks may be realized with a significant delay and triggered by an unrelated catalyst.” Kolanovic, who has been one of the most widely-cited analysts on Wall Street when it comes to connecting price moves across assets and sectors, also adds that modern markets don’t lend themselves to neat forecasts about what the future will bring. “Annual price targets may be remnants of times when markets were less efficient, market reaction times slower and investors less sophisticated,” Kolanovic writes. “In the age where quantitative/derivative investors and technology (e.g. big data and AI) compress the time horizon of market reactions, it is likely impossible to predict price levels 1 year out.” — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Evidence shows corporate tax cuts don’t work Walmart’s strong quarter shows why Amazon had to buy Whole Foods Foreign investors might be the key to forecasting a U.S. recession It’s been 17 years since U.S. consumers felt this good about the economy TOM LEE: Bitcoin is an important asset for investors to own || 5 Things You Should Know About CME Bitcoin Futures: Forget about the sort-of bitcoin ETFBitcoin Investment Trust(NASDAQOTH: GBTC). Futures could become the newest and best way to bet on bitcoin.
Sunday's launch ofCboe Global Markets'bitcoin futureswere just the opening act. WhenCME Grouplaunches its bitcoin futures contract on the largest futures exchange in the world on December 18, it'll be a very big deal for the futures markets, brokerage firms, and of course, bitcoin.
Here's everything you need to know about how these futures will work, and which brokers will actually let you trade bitcoin futures in your brokerage account.
If we're being frank with one another, futures are just a socially accepted (and legal!) way to gamble on the future price of all kinds of things -- corn, utility stocks, interest rates, theS&P 500, and now, bitcoin. We can spare the financial jargon. I'll explain how futures work with an illustrative example where you and a coworker bet on the future price of bitcoin. Here goes.
One bitcoin currently trades for $16,000. You think it will be worth more in the future. Your friend Bob thinks it will be worth less. Annoyed with your endless tirades about bitcoin, Bob tells you to put your money where your mouth is, drawing up a bet based on bitcoin's price three months from today.
If bitcoin goes up, Bob will pay you an amount equal to its gains. If it goes down, you'll pay Bob for how much it drops. You're "long" bitcoin, and thus you make money if it goes up. Bob's "short" bitcoin, and thus he makes money if it goes down.
Three months pass, and it's time to settle the bet. You and Bob log online and see that bitcoin is trading for $18,000. You won the bet, and Bob pays you $2,000, or the difference between the current price ($18,000) and the price at which you commenced the wager ($16,000). And just like that, Bob and you have basically made your own little futures market without even knowing it. Futures really are that simple.
You can think offutures contractsas nothing more than a side bet between two people with opposing views. Bitcoin contracts are settled in cash, with the "loser" paying the "winner" his or her profits.
You don't have to own bitcoin. You don't have tobuy bitcoinon a sketchy online exchange. No bitcoin even changes hands during any of the process. You just have to find someone else to take the other side of a bet. The futures market makes finding someone to take the other side of your wager as easy as clicking a button.
Unlike many financial markets, futures are a zero-sum game. For every person who is long bitcoin, someone else must take the opposite side and be short bitcoin. For someone to make a dollar in futures, someone else must necessarily lose a dollar. It's basically online gambling, legal in all 50 states, and best of all, money you make in the futures market is generally treated better by the Internal Revenue Service (IRS) than money you make betting on college basketball.
Speculators love futures because they allow for the use of leverage to multiply their gains or losses when prices rise or fall.
The CME Group anticipates that its bitcoin futures will be subject to a margin requirement of 43%, meaning you only have to put up 43% of the value of the underlying bitcoin to buy or sell a futures contract. (Note: Your broker may have different -- higher -- margin requirements.)
As I write this, one bitcoin trades for approximately $16,000. A hypothetical CME bitcoin futures contract would have a notional value of about $80,000 (five bitcoin per contract multiplied by the market price of $16,000). Therefore, investors would only have to pony up about $34,400 of their own money to profit on the gain or loss on five bitcoin worth $80,000.
[{"Bitcoin Price": "$16,000", "Bitcoin per Futures Contract": "5", "Notional Value of Bitcoin": "$80,000", "Initial Margin Requirement": "43%", "Actual Outlay": "$34,400"}]
Source: Hypothetical example designed by author. Margin requirements sourced from CME Group.
From a speculator's standpoint, leverage is a key feature of the futures market. With $34,400 of cash, you could afford to buy a little over two bitcoin on a bitcoin exchange. However, through the futures market, $34,400 would enable you to profit on the ups and downs of five bitcoin.
It may help to think about this in percentage terms. If you only pony up 43% of the value of the underlying bitcoin, every 1 percentage-point change in the price of bitcoin would result in a 2.33 percentage-point gain or loss on the margin you put up to open the trade. (100/43 = ~2.33)
CME Group's bitcoin futures will likely trade at a value that approximates the current market price of the cryptocurrency on online exchanges multiplied by five. CME Group has its own Bitcoin Real Time Index (BRTI) to use as a guide for what bitcoin are worth at any given time.
The price index is updated every minute on the CME Groupwebsite, where it writes that the index is "suitable for marking portfolios, executing intraday bitcoin transactions and risk management." Simply said, CME's bitcoin futures should trade for roughly five times the current Bitcoin Real Time Index, as calculated by CME.
When it comes to the official settlement -- the name for the time at which gains or losses are officially tallied -- CME will use a different index it calls the Bitcoin Reference Rate (BRR) to determine the official value for its futures contracts.
One of the most basic problems standing in the way of cryptocurrency-based investment vehicles is that online bitcoin exchanges aren't very deep. In theory, a market manipulator could accumulate a supersized, $10 million futures bet that bitcoin will rise in value. Just before the contract settles, the market manipulator could rush to an online bitcoin exchange and buy $2 million of bitcoin, pushing up the price. He might lose 2%-3% on the $2 million buy due to fees and sloppy trading, but it's worth losing 2%-3% on $2 million if it nets a 2%-3% gain on a $10 million futures position.
The Bitcoin Reference Rate is designed to make this kind of market manipulation more difficult, even if not entirely impossible. In simple terms, the Bitcoin Reference Rate is a price for bitcoin based on the "average" bitcoin price on multiple exchanges over the course of an hour. Manipulating the price of bitcoin for a single second or minute is relatively easy. Doing it for an hour would be very hard to do.
If you're especially curious about the official methodology used to calculate the Bitcoin Reference Rate, I explain it in the paragraph below. Otherwise, scroll on to the next header in the article.
Source: Getty Images.
The actual methodology used to calculate the Bitcoin Reference Rate is as follows: Trades on bitcoin exchanges Bitstamp, GDAX, itBit, and Kraken are logged from 3:00 p.m. to 4:00 p.m. London time (10:00 a.m. to 11 a.m. EST). The trades that occur during this hour are segmented into 12 time intervals of five minutes each. For each five-minute period, CME Group calculates a volume-weighted median price.
The 12 median prices from each five-minute period are then averaged, resulting in the Bitcoin Reference Rate used to value bitcoin futures at settlement. All this is relatively unimportant when the futures are actively trading, since during those times (most of the day), prices are more likely to follow the simpler Bitcoin Real Time Index.
Cboe made a lot of noise when it launched itsbitcoin futures contracts. So far, though, trading volume has been relatively light. Launched on Sunday, only 4,127 Cboe contracts traded hands by the end of trading on Monday.
Cboe isn't a big player in futures. You might surmise that from its name, which is derived from "Chicago Board Options Exchange." Options, not futures, are Cboe Global Markets' bread and butter. In contrast, the CME is generally regarded asthefutures exchange, as it is the largest in the world. Some brokers, like Ally Invest, have even specifically said they're waiting on the sidelines for the CME Group contracts to launch, passing on the Cboe's contracts.
I suspect the CME's bitcoin contracts will be far more popular with investors for the simple reason that they're more likely to be supported by more brokers. In addition, commissions on CME's futures may be lower as a percentage of notional value than Cboe's. CME Group's futures contracts represent ownership of five bitcoin, whereas Cboe's futures represent ownership of one bitcoin, an important difference since commissions are often priced on a per-contract basis.
If you wanted to get exposure to 50 bitcoin throughInteractive Brokers(NASDAQ: IBKR), the only broker to publish a price list for both futures contracts, you'd have to trade 50 Cboe contracts and pay a commission of $5 per contract, or $250 in total. To get the same exposure with CME bitcoin futures, you'd only have to trade 10 contracts, paying $10 per contract in commissions, or $100 in total.
Most brokers aren't ready to bring bitcoin futures to their clients, but it's expected that more brokers will hop on the bitcoin train over time.
Interactive Brokers has already opened up Cboe bitcoin futures for trading and will allow its clients to dabble in CME Group's bitcoin futures, too. For now, you can only go long bitcoin futures, but the discount broker announced it will soon enable its clients to short bitcoin futures.
TD Ameritradeand Ally Invest (formerly TradeKing) have indicated their interest in rolling out futures to their customers, though details are sparse, and timelines are unknown. More than 40% of trades placed on TD Ameritrade are for financial derivatives like futures, so it seems like a natural fit for adding bitcoin futures relatively quickly.
Charles SchwabandE*TRADEmay add the products, but only after seeing how the market develops. By all reports, Fidelity isn't interested in bitcoin futures, which is interesting considering that thesort-of bitcoin ETF, Bitcoin Investment Trust, often appears as one of the most actively traded stocks on its platform. If you want to trade bitcoin futures right now, Interactive Brokers is the only game in town.
Blame bitcoin's volatility for brokers' hesitation. Futures are inherently risky for brokerages because speculators who use leverage can lose all of their account balance and more if the market goes against them. When that happens, brokerages have to become debt collectors, and what they can't collect from their money-losing clients they have to eat as a loss.
The CME Group has limits on how much a futures contract can move on any one day. A 7% move may result in a two-minute trading halt. It strictly forbids trading at any prices 20% higher or lower than where the contract opened for the day.
Of course, CME Group only has power over its exchanges. Bitcoin can trade freely on online exchanges where there aren't any real rules to govern price fluctuations. I count 27 times in which bitcoin traded 20% above or below the opening price, using data fromCoinMarketCap.comgoing back to May 2013.
On its best day in the data set, bitcoin rocketed by 42%. On its worst day, it plunged by 38%. Brokerages are smart to tread carefully. Speculators should tread carefully, too.
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Jordan Wathenowns shares of Interactive Brokers. The Motley Fool recommends Cboe Global Markets, CME Group, and Interactive Brokers. The Motley Fool has adisclosure policy. || Here's Why Nobody Cares About Time Warners Earnings: Time Warner Inc. (NYSE: TWX) ended 2017 with a bang. On the back of strong subscriber growth from its premium HBO property, the television and film giant beat expectations by posting fourth-quarter revenue of $8.61 billion versus estimates of $8.42 billion . The company soundly beat the consensus adjusted EPS estimate, too, reporting $2.66, 85% higher than the $1.44 analysts expected. Time Warner also gave positive guidance for 2018, expecting adjusted operating income growth to be in the high single digits this year. Naturally, you'd expect shares to rally in response to Time Warner's blowout quarter. And you'd be mostly wrong: Shares increased less than 2% on the day of the announcement. Here's why nobody cares about Time Warner's great quarter. The front of the building that is Time Warner's corporate headquarters Image source: Time Warner Inc. Widespread growth for Time Warner Time Warner's success was widespread in the fourth quarter. The company's ad-supported Turner division -- which includes TNT, TBS, and CNN (more on CNN later) -- grew revenue 10% over the prior year's period. While advertising revenue continues to flounder, only up 2%, subscriber revenue increased 14% while content for streaming revenue deals rose 32%. Time Warner was able to turn 10% revenue growth into 22% operating income in the quarter. The company's HBO division increased revenue 13% because of hits such as Game of Thrones and a strategy to trade rate increases for more customers. This strategy is working in HBO's direct-to-consumer options such as HBO Now. The company reported 5 million subscriptions in the United States, approximately 150% more than the 2 million the company disclosed in February 2017. Operating income in the division also increased 13% over last year's quarter. It was a mixed bag for Time Warner's Warner Bros. studios. Revenue attributable to the segment increased by 5%, although operating income fell 10% in the segment in the fourth quarter. Full-year revenue and operating income improved for all segments. Story continues Waiting for the government For Time Warner, the Justice Department is affecting its stock more than its Justice League movie is. Last year, the company agreed to be acquired by AT&T (NYSE: T) for $85 billion. Initially the deal was expected to gain DOJ approval quickly, as it was mostly a vertical merger and the federal government typically concerns itself with horizontal mergers, which decrease competition. In addition, there's precedent for the approval of horizontal mergers of delivery and content -- most notably Comcast 's purchase of NBCUniversal in 2011. Therefore, it was slightly surprising when the Trump administration challenged the merger . It was even more surprising when Politico reported in November that CNN -- which Trump lambastes as a source of "fake news" -- was allegedly the sticking point in the deal's approval, and that a sale of CNN might be required before the deal could occur. Now it appears the federal government is powering up to litigate the case on antitrust grounds. Two days before Time Warner's earnings announcement, it was reported that the federal government was close to securing a well-regarded economics professor to challenge the merger. Even though AT&T and Time Warner have extended the merger deadlines, look for a long and protracted battle. AT&T released a strongly worded statement upon notification the deal would be challenged: "Today's DOJ lawsuit is a radical and inexplicable departure from decades of antitrust precedent." On AT&T's recent earnings call, CEO Randall Stephenson was more succinct" "On the Time Warner front, we look forward to presenting our case in court and closing the deal." With the threat of protracted legal battles, merger uncertainly, and a well-defined takeout price (if successful), it's understandable why investors are not more bullish on Time Warner's results. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFA owns shares of AT&T.; The Motley Fool recommends Time Warner. The Motley Fool has a disclosure policy . || Bitcoin cash soars above $3,000 after Coinbase says it will offer trading of the cryptocurrency: MI
• Bitcoin cash, an offshoot of red-hot bitcoin, was soaring after Coinbase said it would enable trading of the cryptocurrency on its platform.
• Bitcoin cash was trading at $3,338 a coin at 7:40 p.m. ET, according to Markets Insider data.
Bitcoin cashjumped by more than $600 after Coinbase, one of the largest cryptocurrency exchanges, announced Tuesday evening it would soon enable trading of the bitcoin offshoot.
The cryptocurrency, which was formed after a fork of the bitcoin network in August, was trading above $3,000 a coin for the first time at an all-time high of $3,338 at 7:40 p.m. ET, according to data from Markets Insider.
Bitcoin cash, a sort of clone of the original bitcoin built to scale faster by processing more transactions, was not supported by Coinbase when it went live on August 1. As such, users did not receive one bitcoin cash for every bitcoin they owned as users on some other wallets and exchanges did. Coinbase said Tuesday, however, that users who owned bitcoin at the time of the fork would receive their tokens.
"All customers who held a Bitcoin balance on Coinbase at the time of the fork will now see an equal balance of Bitcoin Cash available in their Coinbase account," the company said in a statement.
On Coinbase's GDAX exchange bitcoin cash was trading at a premium to the overall market,reaching as high as $9,500.
Bitcoin cash supporters claim the coin better reflects the vision of Satoshi Nakamoto, the mysterious creator of the Bitcoin blockchain.
Roger Ver, one of the original bitcoin cash backers, tweeted Tuesday that bitcoin cash was the true bitcoin.
"The reason there is so much hostility from Bitcoin Core towards Bitcoin Cash is because Core knows they have stolen the name but are advocating a completely different system than what was originally described by Satoshi," Ver said on Twitter."Bitcoin Cash is Bitcoin."
The bitcoin/bitcoin cash schism is one iteration of an ongoing battle within the bitcoin community over how to scale the red-hot coin.
Other bitcoin offshoots include bitcoin gold, bitcoin silver, and evensuper bitcoin.
As for bitcoin, it was trading down as much as 10% against the US dollar Tuesday evening, dropping nearly as low as $15,800 a coin. It was trading at $16,344 at last check.
MI
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• The Fed could pump the brakes on bitcoin's 1,500% rally || Why Shares of Fiat Chrysler Automobiles Are Up 20% in 2018: Shares of Italian-American automaker Fiat Chrysler Automobiles (NYSE: FCAU) opened 2018 with a bang: The stock is up almost 20% so far this year, with much of that appreciation coming in the first three trading days of 2018. The run-up came out of the blue. FCA's stock didn't do much at all in December -- but as soon as the calendar turned, its price jumped. FCAU Chart FCAU data by YCharts . What's the story? There wasn't an obvious catalyst for the run-up -- in fact, the biggest news in the first few days of the year was that FCA's U.S. sales fell 11% in December. But as 2018 opens, some investors are expecting FCA's recent production shuffle to begin bearing fruit -- and anticipating further corporate moves in what is likely CEO Sergio Marchionne's last year before retirement. Some costly investments could start paying off in 2018 First, I think analysts have been setting their expectations for FCA in 2018, and noting that a series of costly production shuffles in North America are likely to begin paying off this year. Simply put, FCA has been retooling several of its North American factories to boost production of high-profit pickups and SUVs. That effort started in early 2016, when Marchionne announced that the company would end production of its two mass-market sedans , the Dodge Dart and Chrysler 200, and revamp the cars' assembly lines to increase production of its more profitable products. Workers attend to a partially-assembled Jeep Cherokee on the assembly line at FCA's Belvidere Assembly Plant in Belvidere, Illinois. FCA's Belvidere assembly plant once built the compact Dodge Dart sedan. Now it's building the much more profitable Jeep Cherokee SUV. Image source: Fiat Chrysler Automobiles N.V. That kicked off an elaborate reshuffling, in which production of several FCA products was shifted between factories to maximize output of hot-selling models (and launch a few new ones): Production of the big-selling midsize Jeep Cherokee SUV moved from Toledo, Ohio, to the Dart's former assembly line in Belvidere, Illinois. Toledo, the longtime home of the Jeep Wrangler, will expand production to accommodate a Wrangler-based pickup truck . The 200's former plant, in Sterling Heights, Michigan, will soon begin production of an all-new Ram 1500 pickup. The current Ram 1500's line, at FCA's Warren truck plant in Warren, Michigan, will be retooled to make two new upscale Jeep SUVs, the Wagoneer and Grand Wagoneer. (Warren Truck will continue to make some versions of the Ram pickup.) Story continues Got all that? Here's the key takeaway: With Cherokee production up and running in its new (larger) home, the all-new Wrangler entering production, and an all-new Ram set to launch within a few months, analysts are quite reasonably expecting FCA's profits to jump in 2018. But there might be more drastic moves in store for FCA in 2018. A red 2018 Jeep Wrangler SUV is parked next to a stream near a rough mountain trail. The all-new 2018 Jeep Wrangler should give the Jeep brand -- and FCA's bottom line -- a boost over the next few quarters. Image source: Fiat Chrysler Automobiles. The other factor: FCA's unpredictable CEO CEO Sergio Marchionne's tenure has been nothing if not eventful. Under Marchionne, FCA has made a series of dramatic moves in an effort to deliver value to its shareholders: A spinoff of FCA's longtime crown jewel, Ferrari . A huge investment to revamp and relaunch the old Alfa Romeo brand as a modern competitor to BMW AG and the other German luxury-car giants. The Jeep brand went global, launching in China and Europe. Not all of those moves have panned out quite the way investors hoped (in particular, the jury is still very definitely out on the success of the Alfa Romeo effort). But the trend has gone in the right direction: FCA's share price rose just over 200% over the five years that ended on Dec. 31, 2017, handily outpacing both Ford Motor Company and General Motors over the same period. FCAU Chart FCAU data by YCharts . And now FCA's shares are up another 20% in 2018. Investor expectations around the production shuffles are clearly a factor, but I think another part of the reason is that investors might be expecting a few more dramatic moves before Marchionne retires next year. The upshot: 2018 could be a big year for FCA What might those moves look like? It's possible that Marchionne has something drastic up his sleeve, like a sale of all or part (or multiple parts) of FCA to other automakers. It's also possible that he doesn't (or that he won't be able to find buyers even if he tries), and that 2018 will be a relatively uneventful year for FCA by recent standards. But even if that's how it pans out, the production overhaul (and the new trucks and SUVs) should give FCA's profits a nice boost in 2018 -- as long as the market remains strong. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of F and GM. The Motley Fool owns shares of and recommends F. The Motley Fool has a disclosure policy . || Here's How Much Medicare Costs in 2018: Retirees are paying more for their healthcare than ever before, and that makes knowing the costs associated with Medicare's monthly premiums critical to retirement planning. Will these costs break your retirement budget? Here's how much retirees are paying for Medicare health insurance plans in 2018.
A common misperception is that healthcare insurance is free for retirees. That's true of Medicare Part A for most Americans, but it's not true for Medicare Part B, Medicare Advantage, Medicare Part D, or Medigap plans.
IMAGE SOURCE: GETTY IMAGES.
Medicare Part A provides coverage for hospitalizations, skilled nursing, and rehabilitation after a small deductible is met and up to specific limits. For instance, you have tostart contributingto the costs if you require a hospital stay that lasts longer than 90 days. Part A is premium free for most people, but if youdidn't qualifyfor it by paying Medicare taxes during your working years, then you could pay monthly premiums as high as $422 in 2018.
Medicare Part B provides some coverage for basic healthcare services, such as primary-care doctor visits and lab work. Once recipients meet a $183-per-year deductible, they pay 20% co-insurance for covered services.
Americans must pay a premium for Part B coverage, and if they fail to sign up for it at age 65, they can face stiffpenaltiesin the form of higher monthly premiums. Part B premiums are subject to an income-related monthly adjustment amount, and in 2018, Part B premiums ranges between $134 and $428.60 per month, depending on the modified adjusted gross income (MAGI) reported on your tax return two years ago.
For convenience, here's a table showing Part B premiums in 2018, based on 2016 MAGI.
[{"MAGI, Filing As an Individual": "$85,000 or less", "MAGI, Filing Jointly": "$170,000 or less", "Monthly Premium": "$134"}, {"MAGI, Filing As an Individual": "Above $85,000 up to $107,000", "MAGI, Filing Jointly": "above $170,000 up to $214,000", "Monthly Premium": "$187.50"}, {"MAGI, Filing As an Individual": "Above $107,000 up to $133,500", "MAGI, Filing Jointly": "above $214,000 up to $267,000", "Monthly Premium": "$267.90"}, {"MAGI, Filing As an Individual": "Above $133,500 up to $160,000", "MAGI, Filing Jointly": "above $267,000 up to $320,000", "Monthly Premium": "$348.30"}, {"MAGI, Filing As an Individual": "Above $160,000", "MAGI, Filing Jointly": "above $320,000", "Monthly Premium": "$428.60"}]
Data source: Medicare.gov.
Medicare Advantage insurance bundles together Medicare Part A and Medicare Part B coverage, and it usually also includes coverage for healthcare services that are traditionally uncovered by Part A and Part B, such as hearing aids and drugs. In 2018, retirees have to pay the Part B insurance premium plus $30, on average, for their Medicare Advantage coverage. However, because these plans are sold by private insurers and each plan may provide slightly different coverage beyond the Part A and Part B requirements, their premiums can vary considerably.
If you prefer traditional Part A and Part B coverage instead of Medicare Advantage, then you can purchase a Medicare Part D plan to cover drug costs. These plans are subject to deductibles, cost-sharing, andcoverage limits, and like Medicare Advantage, they're sold by private companies, so prices can vary. Overall, the average Part D plan premium is $33.50 in 2018, but you could pay more than that, depending on your income. The following table shows the income adjustments to premiums based on income levels for 2018, based on yearly income in 2016.
[{"Filing As an Individual": "$85,000 or less", "Filing Jointly": "$170,000 or less", "Monthly Premium": "Your plan premium"}, {"Filing As an Individual": "Above $85,000 up to $107,000", "Filing Jointly": "above $170,000 up to $214,000", "Monthly Premium": "$13.00 + your plan premium"}, {"Filing As an Individual": "Above $107,000 up to $133,500", "Filing Jointly": "above $214,000 up to $267,000", "Monthly Premium": "$33.60 + your plan premium"}, {"Filing As an Individual": "Above $133,500 up to $160,000", "Filing Jointly": "above $267,000 up to $320,000", "Monthly Premium": "$54.20 + your plan premium"}, {"Filing As an Individual": "Above $160,000", "Filing Jointly": "above $320,000", "Monthly Premium": "$74.80 + your plan premium"}]
Data source: Medicare.gov.
It's also possible that retirees will combine their Medicare coverage with Medigap plans that are also sold by private insurers. As a refresher, Medigap plans help cover deductibles and other cost-sharing requirements when Part A and Part B Medicare falls short. There's aslate of differentMedigap coverage levels, and premiums differ from plan to plan and level to level, but in my home state of New Hampshire, the monthly premiums for someone in good health range between $108 to $357. You can get a good idea of how much these plans cost in your home state by using this Medicare plansearch tool.
IMAGE SOURCE: GETTY IMAGES.
According to the Bureau of Labor Statistics, the average person age 65 and up is spending $5,877 per year on healthcare, including $4,029 on healthcare insurance. That's a lot of money when you consider that the average retired worker is collecting only $16,848 in Social Security in 2018.
It's unlikely that health insurance costs are going to fall anytime soon, either. Medicare spending is growing because aging baby boomers are living longer and requiring more medical care, and innovations such as robotic surgery and personalized medicine are increasingly expensive. As a result, it's likely retirees will be paying even higher Medicare premiums in the future.
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The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
100 JPY(BTC): 1019.370 ~ 1021.510 KRW(BTC) || @Zvangi #HODL #BTC #TRXpic.twitter.com/bLF7P2En2Y || HODL!!! Don’t let these whales make you sell! Prices will go up soon! #BTC #HODL #Bitcoin #crypto #cryptocurrency #ETH || was joking...im sure it's because they already own so much bitcoin and they got in at a low price...so there is no point to own more. || [19 Dec 2017 05:59:00 am] 1 BTC = 18,703.4375 USD || ¿Continúa subiendo el Bitcóin? Consulta aquí su precio oficial en tiempo real https://www.preciobitcoin.net/?btz44=0132021506 … || Sounds real fishy with the NYSE tanking this week and the CFTC chairman coming out with a careful approach towards cryptocurrencies
#TheFlippening
My portfolio doesnt mind though $BTC $ICX $VET || Le bitcoin en chute libre http://po.st/zcJdal via @LesEchos - Bienvenue sur Terre ! vous pouvez reprendre une activité normale, comme ... piscine ou cinéma avec 5 ou 10€ ... si vous les avez encore -:) ! || #BTC More volatility ahead in the next few days but when we look at the big picture, i would say theres nothing much to be worry about. Waiting to see if we hit 5.7k support today and a small rebound tmr. $btc #Bitcoin pic.twitter.com/PrpijO0r3M || Cotización del Bitcoin Cash: 2,010 00.€ | -12.13% | Kraken | 13/01/18 13:00 #BitcoinCash #Kraken #BCHEUR
|
Trend: up || Prices: 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-07-26]
BTC Price: 2529.45, BTC RSI: 50.80
Gold Price: 1249.00, Gold RSI: 56.01
Oil Price: 48.75, Oil RSI: 63.56
[Random Sample of News (last 60 days)]
Bitcoin plunges below Goldman Sachs' target before rebounding sharply: Bitcoin (A bitcoin sign in a window in Toronto.Reuters/Mark Blinch) Bitcoin is making a comeback after taking a weekend plunge. The cryptocurrency dropped by nearly 20% over the weekend, putting in a low of $1,758 a coin before recouping some of those losses. It's currently trading at $2,048. At the low point, bitcoin was down by more than 40% from its record high of about $3,000, set June 12. The weekend plunge pushed the cryptocurrency below the target of Sheba Jafari, the head of technical strategy at Goldman Sachs . In early July, Jafari put out a note saying bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." Jafari wasn't the only one who thought bitcoin was getting ahead of itself. Tech billionaire Mark Cuban suggested bitcoin was in a "bubble." Back on June 6, just before the cryptocurrency put in its record high, Cuban tweeted: "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble." Additionally, Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, said bitcoin was in a bubble unlike any we had seen before . As for where bitcoin will go from here, Jafari's July 3 note suggested that after a big drop, a fifth wave would take bitcoin to record highs. "From current levels, this has a minimum target that goes out to 3,212 (if equal to the length of wave I)," Jafari wrote. "Theres potential to extend as far as 3,915 (if 1.618 times the length of wave I). It just might take time to get there." Even with the recent plunge, bitcoin is up 113% in 2017. Bitcoin (Investing.com) NOW WATCH: Wells Fargo Funds equity chief: Shorting anything is 'playing with fire' More From Business Insider Trump's lawyer let something slip about the Russia meeting that raises questions about whether Trump attended Trump Jr.'s meeting with a Russian lawyer sheds new light on the extent of Russia's election interference Ethereum is still crashing, and just fell below $200 View comments || Shaun G. Morgan Discusses the Impact of Sinocoin, the Newest Digital Currency: DUBAI, UAE / ACCESSWIRE / July 25, 2017 /China has begun to consider implementing its own form of digital currency to compete with or even replace the current reigning cryptocurrencies within its borders. Digitally exchanged monetary systems have had a tremendous impact on the People's Republic's commerce, despite some initial resistance. The government of the populous nation has been cautiously toying with the idea of their own state-sponsored cryptocurrency for quite some time, however, experts such asShaun G. Morgan, Managing Director of theEmirates Consolidated Investmentsand frequent consultant for China-based business interests, say that this Chinese digital tender (under the working English title, "Sinocoin") may soon become a reality.
Strictly digital currencies have come and gone since the 1990's, often with mixed to negative results. A major roadblock for sustainability of these alternative payment methods against physical tender has been combining the anonymity with transparency, which has led to several legal scandals, criminal investigations, and ultimately shutdowns of the exchange systems. This was rectified by newer services such as Bitcoin, which was launched in 2009 and hosted a public ledger to record all transactions. Keeping the purchases open allowed for less centralized oversight, while encryption kept personal information safe. The startling success of Bitcoin has caused it to grow exponentially in the years since and led to the creation of many similar products.Shaun G. Morganhas recommended vetted cryptocurrencies as a possible investment option due to the potentially positive returns. Alexandr Nellson, writing for the Medium, also posits that Bitcoin is very likely to continue growing based on previous trends, and investors would see a positive increase down the road from purchases made now.
The benefits of Bitcoin and other cryptocurrencies have also convinced other national governments to begin looking into forming their own digital alternatives. However, China has experienced some of the largest growth in digitally exchanged currencies in the world, with a highly active and robust crypto-economy. This has worried China's central bank in the past and some officials have claimed that services like Bitcoin, Litecoin, and others lead to the diminishment of the Chinese yuan. The People's Bank of China (PBoC) initially forbid cryptocurrency trading, and even after exchanges were finally allowed, they were scrutinized heavily. However, there are signs that the PBoC is changing its position. The Chief China Strategist of the Bank of Communications, Hao Hong, told the South China Morning Post that the government's attitude towards cryptocurrencies is "shifting." Bloomberg News has pointed out that Chinese citizens rely heavily on online transactions for their purchases, and that trend does not look likely to slow down. After a freeze of Bitcoin by China this past June, Business Insider reported that once withdrawals were resumed, the currency reached a peak value of approximately 2400 dollars a coin. All of the evidence indicates that digital currency will remain a driving force in the Chinese economy for some time and that launching Sinocoin might, in fact, become a necessity for the PBoC.
Shaun G. Morganis a Managing Director for Emirates Consolidated Investments, CEO of SG Morgan Investment Bank, a Chairman of Greater China Acquisition Corp., and a key shareholder in several other institutions. He has been involved in enterprises all across the globe, including Switzerland, the United Arab Emirates, the United States, the United Kingdom, China, and many others. Morgan has been an advisor and consultant for almost 20 years, with a focus on investment banking and cross-border credit lending. He also participates in philanthropic activities, including donating 500 tablets to the Fujairah Welfare Association.
Shaun G. Morgan - Managing Director of Emirates Consolidated Investments:http://shaungmorgannews.com
SG Morgan Investment Bank - Facebook:https://www.facebook.com/SG-Morgan-Investment-Bank-1791608931082759/
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SOURCE:Shaun G. Morgan || Your first trade for Tuesday, June 13: The " Fast Money " traders gave their final trades of the day. Pete Najarian is a buyer of Micron (MU (NASDAQ: MU) ). Karen Finerman is a buyer of General Electric (GE (NYSE: GE) ). Dan Nathan is a seller of the Financial Select Sector SPDR ETF (XLF) (NYSE Arca: XLF) . Guy Adami is a buyer of Advanced Micro Devices (AMD (NASDAQ: AMD) ). Trader disclosure: On June 12, 2017 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long calls AVGO, BAC, BUD, C, CENX, CHK, CPN, CRM, CSX, EOG, ETE, FEYE, FSLR, GS, KMI, LNG, LULU, MDLZ, MT, MU, NBL, NBR, ORCL, RF, TECK, UNP, WLL, XLF. Pete Najarian is long stock AAP, AAPL, BAC, DIS, DLTR, FSLR, GILD, GIS, GE, GM, IBM, K, KMX, KO, KORS, KSU, LEN, LUX, MRK, MSFT, PEP, PFE, RL, UNP, V, WDC, WFT. Karen is long AAL, BAC, BAC short calls, Bitcoin and other digital currencies, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GLNG, GM, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WIFI, WFM. Her firm is long ANTM, BAC calls, C, C calls, FB, FL, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS puts, LYV, PLCE, SPY puts, SPY put spreads, WIFI, UAL, her firm is short IWM, MDY. Dan Nathan is short SPY, long June XLV, XLI and XRT puts, long XLF September puts Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC 5 tech trades for tomorrow morning The happy loser: In poker and in trading, a big loss can be a big win Your first trade for Friday, June 9 || Bitcoin Poised to End Week off Weekly Highs Despite Expectations of Indian Adoption: The price of Bitcoin is set to end the week below the week’s highest level as investors in the virtual currency remained reluctant to place their funds into it in the wake of a recent $900 crash. Rumors of a possible adoption of Bitcoin in India resulted in little to no effect on the price of the digital currency today, but is expected to have a wider effect in the weeks to come.
After almost touching $3,000, the Bitcoin price crashed to $2,120 last week. The digital currency then quickly recovered to $2,789 by Wednesday, but volatility remained high as the price moved in a range of almost $150 over the past two days. This volatility prompted experts to reiterate warnings of the bubble behavior that Bitcoin has been displaying in recent months, which is attributed to a frenzy of speculations that pushed the Bitcoin price more than 200% this year.
Among those wary of Bitcoin’s rapid gains is Peter Denious, one of the main venture capitalists inAberdeen Asset Management.In a recent interview, Denious said that Bitcoin is pushed higher by a gold rush mentality that took over the market, which is likely to lead to huge losses of investments.
His concerns along with others have worked against allowing Bitcoin to break the $2,800 level this week, despite easily storming past it last week. Reports that pointed to a possible legalization of the virtual currency in India failed to lead it higher as investors preferred to remain cautious.
India has seen a huge rise in demand for Bitcoin over the last year, but the country continues to offer no legal framework for digital currencies to operate within. However, lawmakers in India might be in talks of changing the government’s stance on Bitcoin to with the goal of regulating the currency. The Ministry of Finance formed a committee in April to examine the existing framework surrounding virtual currencies and provide suggestions for how to improve consumer protection and limit money laundering.
The committee’s findings and recommendations will be submitted to the ministry by the end of July. This has stoked anticipation of a possible adoption of Bitcoin in India, especially after the Indian government opened a public discussion of the issue on its official online forum.
A government official said that the probability of banning Bitcoin is low, however he also added that legalizing the virtual currency remains unlikely. Speculations on the committee’s recommendations are expected to influence the Bitcoin price in the coming weeks.
BTC/USD closed the week at 2,579 on theBitstamp exchangeafter moving within a range between 2,688.9 and 2,743.9. BTC/USD started the day at 2,708.3, while for the week the pair began trading at 2,633.9.
This post was originally published byEarnForex
Thisarticlewas originally posted on FX Empire
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• Market Snapshot – Markets Move Towards Tepid Close || Alphabet's Nest Cam IQ recognizes burglars' facesfor a steep price: Overall, the Internet of Things revolution has been a bust. You knowall those coffee makers, garage-door openers, and washer-dryers that we can control with apps on our phones. Only a couple of categories seem even worth messing with: internet-connected thermostats, and home security cameras. Meet the WiFi home security cam. These are tiny WiFi cameras that you can plunk around your houseand then spy from your phone, wherever you go in the world. You can see whos at the front door, see if the babys awake, see if the nanny is overfeeding your kids, or monitor your home for motion when youre not paying attention. Two years ago, Nest, which is a part of Google parent Alphabet ( GOOG , GOOGL ), introduced the Nest Cam ($200), which was a tweaked-up version of the former Dropcam, which Nest had bought for $550 million. Feel free to re-read that sentence. The Nest Cam was a fine product, soon joined by a weatherproof model, Nest Cam Outdoor. In addition to the usual functionletting you see whats going on back at home, and alerting you when theres motionthey also have two-way audio, so that you can yell at the room by remote control when you see something amiss. You know: Xerxes, DOWN! Off the couch. DOWN! The Nest Cam IQ has a tilting neck and a speaker on the back. Now theres the Nest Cam IQ, which raises the price by 50% to a nose-bleedy $300. (The earlier cameras remain available.) That extra $100 buys you improved picture and sound, plus facial recognition. That is, the camera learns what people in your home look like, using the same facial algorithms found in Google Photos. At that point, it can alert you only when a stranger is poking around your house. This camera doesnt waste your time when it spots family members. Whats the same As with the other Nest Cams, this one is super easy to set up. You create a Nest account, plug in the cameras 10-foot power cord, and then use your phone to scan the barcode on the bottom of the camera. Suddenly, its set up. Its current camera view appears right in the same Nest app that you use to control your Nest thermostats and smoke detectors. Story continues The cameras image shows up in the same app that controls Nest thermostats and smoke detectors. As before, you cant actually make the physical lens move by remote control to pan around the room, as you can on some rival products. But you can pan and zoomwith your fingers on the screen. Since the cameras view is 130 degrees, you can actually see the entire room at once, and then zoom and pan to any part of the room. Better yet, the new camera is actually a 4K camera, meaning that it has four times as many pixels as high definition. That feature doesnt help with spying on your home or playing back recordings, since all of that still takes place in 1080p hi-def. It is useful when youve zoomed in with your fingers. A special button (hidden, alas, until you tap the screen) at that point harvests the extra pixels to sharpen up the image. Im guessing it works best if you shout Enhance! as you tap, like they do on TV. The 4K camera pays off when you want to zoom-and-enhance. The 4K sensor also makes possible Supersight, a feature thats supposed to auto-zoom and auto-track a face as it enters the frame, with the original full-room view as an inset. SuperSight is supposed to pan and zoom to follow the intruder. In practice, its more like not-so-Super Sight. Sometimes it doesnt kick in at all. Sometimes it pans so aggressively in the direction the thief is walking that it pans right past him. Seems like its expecting the evildoer to move at just the right speed, or it doesnt really work. As before, the picture and sound are delayed by a couple of seconds. Dont try to practice your comic timing with the folks back at home over the Nest Cam. The clarity of the image (and the sound), on the other hand, are terrific. Thanks to night vision, you even get 15 feet of incredible clarity in total darkness. Notifications The original Nest Cam used to go off too often, triggered by cats and dogs, cars outside the window, and so on. It became the security camera that cried wolf; you wound up ignoring the notifications, or turning them off. The IQ still sends a lot of false positives, but the facial recognition really helps. In the first week of using the new camera, the phone app shows you the faces of people it spots passing through the room. Youre asked, Do you know this person? for each one. There will be repetitions during those first days, but eventually, the app will know whos entitled to be in your home, and whos not. During the first week with your Nest, it tries to learn your familys faces. And sure enough: the IQ now lets you know only when someone un authorized is in your home. Its a brilliant, important feature. It is not, however, a Google invention. The Netatmo Welcome camera was the first with facial recognition (and, soon, dog and cat recognition)and it costs $100 less. The subscription news All of the spying fun youve read about so far is free. Unfortunately, you have to pay a monthly fee to get the good stuff . Its $10 a month, or $100 a year. Heres what that gets you: Continuous, 24/7 recordings of everything thats happened in your house, going back 10 days. Either on the phone or on the Nest website, you can catch something you missed with the camcorder, like your babys first steps or a pets funny trick. Freeze the frame on whoever keeps spilling food on the couch. Settle an argument (or prolong one) by proving who brought the subject up first. (Without the subscription, you get only a three-hour rewind window.) Share clips of all that, or make time-lapse videos of it Notifications of audio events like a dog barking or people talking Notifications when familiar faces are spotted Activity zones: Up to four parts of the room that you want the camera to ignore or pay particular attention to. (Unfortunately, facial recognition doesnt respect these zonesits always onso faces on a TV trigger alerts.) (At least standard Ive spotted a face! notifications are now included. The previous Nest cameras required a subscription even for that feature.) Ill just say it: I cant stand monthly subscriptions. Theyre an unnecessary money gouge. Especially when you remember that you need one subscription for each camera (although additional subscriptions are half price). Besides, plenty of rival cameras also store your recordings online for free, or onto a memory card. And some of them have cool features that the Nest doesnt. And none of them cost as much: Netgear Arlo Pro ($228): Wireless and battery powered or wired. Weatherproof. Multi-camera discounts. Seven days worth of footage storage online for free; 30 days worth for $10 a month. iControl Piper nv ($270) : No subscription plans (records 1,000 motion-triggered clips online for free), but no continuous recording, either. Also tracks outside temp and humidity levels, and issues weather warnings. Acts as a hub for smart-home devices. D-Link DCS-2530L Full HD 180-Degree Wi-Fi Camera ($132): Records to a memory card, so no subscription necessary. Samsung SmartCam PT ($160): You can pan and tilt the camera from afar, with auto-tracking of a person in the room. Records to a memory card, so no subscription necessary. Privacy mode: When youre home, camera aims down and shuts off. Netatmo Welcome ($200): Face recognition. Stores clips on a memory card (no 24/7 recording). Make no mistake: The Nest Cam IQ is a fantastic home-security camera. Simple to set up, easy to use, super smart facial recognition, and the best picture and sound on the market. For its core function, its among the best home-security cameras you can buyand buy, and buy, and buy. Correction: This post originally stated that Nest is owned by Google. In fact, it is owned by Google parent Alphabet. The error has been corrected. More from David Pogue: Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Experts say Petya ransomware is just a ‘test’ for something much worse: A new ransomware attack , modeled after the recent WannaCry exploit, has hit thousands of organizations and users worldwide. But according to a handful of security experts, it’s only the tip of the iceberg. The ransomware attack, which encrypts users’ files and demands a ransom to unlock them, could just be a test attack, or cover for more malicious damage being done by the virus. Don't Miss : The most important accessory any AirPods user can buy ““I’m willing to say with at least moderate confidence that this was a deliberate, malicious, destructive attack or perhaps a test disguised as ransomware. The best way to put it is that Petya’s payment infrastructure is a fecal theater,” security researcher Nicholas Weaver told KrebsOnSecurity . His sentiments were echoed by “the grugq,” an anonymous security researcher who blogs about security issues. He highlights the same thing as Weaver, namely that the payment infrastructure for the virus is poorly designed. Normally, ransomware viruses demand payment in Bitcoin to a Bitcoin account that is unique to every victim. That makes it harder to track the Bitcoin, or for researchers to work out the identity of the attackers. Communication is normally done through the obfuscated Tor protocol, which relies on a distributed web of servers and is impossible for one organization to shut down. In this instance, however, the attackers had one single email address listed for communication. It was quickly shut down by Posteo, the German ISP responsible for the email account. That means that victims will not be able to communicate with the attackers to organize payment or receive decryption codes, effectively meaning any encrypted files will be lost forever, if backups aren’t available. “If this well engineered and highly crafted worm was meant to generate revenue, this payment pipeline was possibly the worst of all options (short of “send a personal cheque to: Petya Payments, PO Box …”),” the grugq explains. It’s suspicious that such a well-designed piece of ransomware would have such a bad payment system — unless, of course, the aim was never to make money. Story continues “This is definitely not designed to make money. This is designed to spread fast and cause damage, with a plausibly deniable cover of “ransomware.”, the grugq continues. Weaver confirmed this to Krebs , saying that Petya “appears to have been well engineered to be destructive while masquerading as a ransomware strain.” Attributing blame for cyberattacks is always difficult, but the high concentration of Ukranian victims — the attack was originally distributed through Ukranian tax software MeDoc — raises questions about potential Russian involvement. Trending right now: Scientists ‘can’t rule out’ collision with asteroid flying by Earth in 2029 Google Pixel phones of the future may have a feature you’ll never find on an iPhone Video: Porsche tries to keep up with a Model S and the result is embarassing See the original version of this article on BGR.com || Bitcoin is giving gold a run for its money: trader: ByDavid Nelson, CFA
Stocks ended the shortened holiday week close to the flatline. Bonds and gold finished under pressure, as investors rotated out of traditional safe haven assets. US yields pushed higher on the heels of a better-than-expected jobs report coming in at 222k (above consensus at 185k).
German 10-year yields also rose, holding onto their post-election breakout last November.
Even Japanese 10-year yields—in a nearly two-decade slump—are threatening to break the downtrend line.
However, of more concern for asset allocators, is gold (GLD,GC=F)—the ultimate safe haven trade. This is the asset that’s supposed to protect us from all adversaries (e.g., inflation, geopolitical turmoil … even a nuclear event).
Early in the year, the yellow metal put in a bottom and, certainly on a short-term basis, gold bugs could rejoice. After the lows late December, gold shot up a quick 25%, and even after a rough couple of weeks, is still up close to 15% for 2017.
Despite its year-to-date strength, I find the breakdown last week concerning, as it comes in the face of dollar weakness, where there is a strong inverse correlation. Gold’s selloff after the election was textbook, as the US dollar climbed higher on hopes of the Trump agenda igniting the reflation trade.
The rise in gold after the bottom in December was in lockstep with the fall of the Greenback. However, starting in June, the ultimate safe haven trade has struggled even in the face of continued dollar weakness.
Benign inflation certainly hasn’t helped the gold price action. Central bankers are quick to tell us they expect inflation to meet their target, failing to recognize that cheap oil, which touches the cost of many products, is a secular—not cyclical—dynamic.
Geopolitical instability or military action often provides a lift in gold. However, following North Korea’s test launch of an ICBM near the Fourth of July break, gold barely budged, dashing hopes of a breakout.
Cryptocurrencies and, of course Bitcoin, have captured the attention of nearly every speculator on the planet. There’s no doubt the underlying technology, blockchain, is here to stay. Many banks, including JPMorgan (JPM), are exploring it as well as developing their own systems.
It wasn’t that long ago that I interviewed NASDAQ Vice Chair Sandy Frucher on iHeart Radio, where he told me to expect NASDAQ to embrace blockchain for its back office and clearing operations.
Gold has long been the alternative to fiat currencies—giving its holder a hard asset that retains value in the face of any geopolitical, inflationary, or economic challenge.
How much is that worth in the face of competition? Therein lies the concern. The first human interaction with gold likely took place nearly 3,000 years before Christ—so there’s some 5,000 years of history. It’s way too soon to write off gold as the alternative currency of choice, but competition usually means lower prices.
Bitcoin’s success will likely come at the expense of gold and provide another example of thezero-sum-game.
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Investment advice is offered through Belpointe Asset Management, LLC. Past performance is no guarantee of future returns. Insurance products are offered through Belpointe Insurance, LLC and Belpointe Specialty Insurance, LLC. It is important to read our email disclosures available at this link:http://belpointe.com/disclosures. || The Bears are Waiting for Their Chance in the Nasdaq: InvestorPlace - Stock Market News, Stock Advice & Trading Tips U.S. equities finished sharply lower on Thursday, although off of their worst levels, as a rise in long-term interest rates and recent central bank hawkishness took a toll. Big-cap tech stocks resumed their on-again, off-again weakness, dragging the major indices lower. In the end, the Dow Jones Industrial Average lost 0.8%, the S&P 500 lost 0.9%, the Nasdaq Composite lost 1.4% and the Russell 2000 lost 0.6%. Treasury bonds extended their recent selloff, the dollar weakened, gold fell 0.3% and crude oil gained 0.4% for the sixth straight gain. Breadth was heavily negative, with 2.4 decliners for every advancing issue on the NYSE. Click to Enlarge Technology stocks were on the chopping block, down 1.8% as a group: Facebook Inc (NASDAQ: FB ) fell 1.4%, Amazon.com, Inc. (NASDAQ: AMZN ) fell 1.5%, Apple Inc. (NASDAQ: AAPL ) fell 1.5%, Microsoft Corporation (NASDAQ: MSFT ) fell 1.9% and Alphabet Inc (NASDAQ: GOOG , NASDAQ: GOOGL ) fell 2.4%. The 7 Best Dividend Stocks to Buy for Q3 and Beyond Semiconductors were among the day’s hardest hit, with Nvidia Corporation (NASDAQ: NVDA ) down 3.3% and Advanced Micro Devices, Inc. (NASDAQ: AMD ) down 4.8% as The Wall Street Journal suggests the company’s revenues are too exposed to cryptocurrency mining. Qualcomm, Inc. (NASDAQ: QCOM ) fell 1.9%, boosting the July QCOM $56 puts recommended to Edge Pro subscribers to a 67% gain since added on Tuesday. Click to Enlarge Financials bucked the trend to gain 0.7% as a group thanks to net interest margin hopes. The Financial Select Sector SPDR Fund (NYSEARCA: XLF ) is on the verge of an upside breakout from a long seven-month consolidation pattern. It’ll be interesting to see how the market bulls reconcile tech weakness/bank strength since both are heavily weighed sectors in the major averages. Also helping the banks was the announcement of capital return plans last night following the passage of Federal Reserve “stress test” capital tests. Citigroup Inc (NYSE: C ) gained 2.8% on a larger-than-expected 100% dividend increase and a $15.6 billion buyback plan. Story continues In other corporate news, Staples, Inc. (NASDAQ: SPLS ) gained 1.5% after agreeing to be acquired by Sycamore Partners for $10.25 per share in cash or nearly $7 billion. Groupon Inc (NASDAQ: GRPN ) gained 4.3% on an upgrade from analysts at B Riley. And Lululemon Athletica Inc. (NASDAQ: LULU ) gained 5.2% after its chairman purchased $5.5 million worth of shares. Rite Aid Corporation (NYSE: RAD ) collapsed 26.5% after the company and Walgreens Boots Alliance Inc (NASDAQ: WBA ) terminated their merger agreement due to regulator opposition. WBA will still acquire nearly 2,200 stores for $5.2 billion in cash. The company also announced Q1 earnings well below estimates on a 3.9% decline in same-store sales. Conclusion Click to Enlarge The single biggest dynamic in play right now is the weakness hitting Treasury bonds as shown above. This is being driven by hawkish commentary from Federal Reserve officials lately, who have echoed each other on worries about elevated asset price valuations (stocks too expensive), leverage (too much credit overhang), reach-for-yield behavior (sentiment too hot), and the fact that credit conditions have loosened since they started tightening policy in December 2015 (based largely on the fact stock prices are up some 20% since then. Click to Enlarge Source: OptionsAnalytix There is a technical element to the action as well amid a reversal of some recent trends: Crude oil is up six days in a row, which is boosting inflation expectations, lifting long-term yields (thus weakening bonds), and weakening the dollar (down five of the last seven days). This is the best opportunity the bears have had in months to pile on: The Nasdaq 100 closed back below its 50-day moving average, a level that hasn’t been traded below in a major way since early December. Buy Tesla Inc (TSLA)? Try This Undervalued Auto Stock Instead. That’s great news for the ProShares UltraShort QQQ (ETF) (NYSEARCA: QID ). Check out Serge Berger’s Trade of the Day for June 30. Today’s Trading Landscape To see a list of the companies reporting earnings today, click here . For a list of this week’s economic reports due out, click here . Tell us what you think about this article! Drop us an email at editor@investorplace.com , chat with us on Twitter at @InvestorPlace or comment on the post on Facebook . Read more about our comments policy here . Anthony Mirhaydari is founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. A two-week and four-week free trial offer has been extended to Investorplace readers. More From InvestorPlace 7 ETFs That Can Make You Love Retirement 3 Stocks to Buy to Leverage the Bitcoin Craze 3 Great Fidelity Funds That AREN'T Magellan The post The Bears are Waiting for Their Chance in the Nasdaq appeared first on InvestorPlace . || First Bitcoin Capital Corp Installing Automated Check-Cashing and Bitcoin ATMs Into California High Traffic Markets.: VANCOUVER, BC / ACCESSWIRE / June 19, 2017 /First Bitcoin Capital Corp (BITCF) and Simple Automated Money, Inc. (SAMCO) announced today that SAMCO will provide automated check-cashing kiosks through BITCF locations in Northern California. SAMCO's Web-enabled automated check-cashing kiosks merge unique and exclusive check cashing capabilities to provide unbanked consumers with a fast and confidential check-cashing experience.
In a pilot test program, BITCF has ordered S.A.M. Kiosks to integrate Bitcoin ATM into self-service check cashing kiosks nationwide. BITCF is conducting the pilot test and studying customer acceptance of the check cashing kiosks with 3 units in Northern California. Company anticipates beginning a national rollout later in 2017. During the pilot, BITCF will offer discounted check-cashing services and will promote the new service through online advertising, in-store signs and special events ... all aimed at consumers who use alternative check-cashing services.
Additionally, BITCF announced that development will begin to integrate Bitcoin buy/sell capabilities throughout a nationwide network of 85 SAMCO kiosks now in place and growing. Services the company plans to integrate will include BITCOIN ATM transactions, money orders and transfers as well as check cashing through touchscreen, bio-metric secure access.
BITCF is an exclusive distributor of SAMCO check-cashing kiosks in California for the medical cannabis dispensaries and is expanding to include other high traffic retail locations, such as C-Stores and supermarkets. It will offer competitive products and services allowing consumers to cash any type of check: government-issued, payroll, business and others. Studies have shown that offering check-cashing services on premises to be an effective method to increase store product sales.
According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, BITCF's ATM Division expects that Kiosk location owners will increase their customer base significantly.
Kiosk use is simple and fast: customers insert an ID card and check, validate their identity through on-board fingerprint technology. The S.A.M. Kiosk validates the information, verifies customer identity, performs an online check authorization and issues an approval or decline back to the consumer before dispensing cash.
"Self-service check cashing kiosks with integrated Bitcoin ATM capability is another innovation in the company's history of defining convenience for customers," said, Bitcoin president.
According to CoinRadar.com, as of 2017 there are only a total of 571 bitcoin ATMs in the entire US. Due to the low number of bitcoin ATM locations nationwide there is a huge demand from customers seeking to buy or sell bitcoins for cash. People seeking to use a bitcoin ATM are willing to drive across entire cities just to use one, so combining a check cashing self-service kiosk with a bitcoin ATM and placing kiosks in strategic high traffic retail locations is win-win for the vendors and consumers.
About SAMCO:
Simple Automated Money, Inc. is the leading provider of automated check-cashing kiosks in the United States. Actively involved in check-cashing since 1995, SAMCO has merged related but independent transaction processing systems into a simplified kiosk allowing customers fast and convenience access to their cash.
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At the current time, the Company owns and operates more than the following digital assets:
http://coinqx.com/cryptocurrency exchange, registered with FINCEN.
http://strain.id/cannabis strains genetic information depository on decentralized Blockchain
http://www.icoinews.com/real time cryptocurrency and bitcoin news site.
http://bitminer.cc/providing mining pool management services.
http://www.2016coin.org/online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
http://bitcannpay.com/Open Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:
http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:
http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price: Bitcoin's(Exchange: BTC=-USS)price has the potential to hit over $100,000 in 10 years, which would mark a 3,483 percent rise from its recent record high, an analyst who correctly predicted the cryptocurrency's rally this year told CNBC on Tuesday.
In December, Saxo Bank published its annual report called "Outrageous Predictions" withone of the forecasts calling for bitcoin to hit $2,000 in 2017. At the time the note was published,bitcoinwas trading at around $754, so the target price represented a 165 percent rise.Bitcoin hit $2,000 on May 20.
But now, Kay Van-Petersen, the analyst behind the call, is looking long term and sees a big rise ahead forbitcoin.
Here's how he came up with his price target in 10 years.
Van-Petersen is assuming cryptocurrencies in general – not justbitcoin– will account for 10 percent of the average daily volumes (ADV) of fiat currency trade in 10 years. Foreign exchange ADV currently stands at just over $5 trillion, according to the Bank for International Settlements.
Ten percent of $5 trillion is $500 billion. This is the ADV that cryptocurrencies could have. Bitcoin will account for 35 percent of that market share, which would that $175 billion of the $500 billion figure, he said. This would mean that $175 billion worth of bitcoin would be traded every day
Also, Van-Petersen then implies that bitcoin's market capitalization would be ten times the average daily volume, giving a figure of $1.75 trillion for the market cap. The current figure is around $37.8 billion, according to data from industry website CoinDesk.
Bitcoin has a limited supply of 21 million which is expected to be reached by the year 2140. In 10 years, the analyst thinks that there will be 17 million bitcoin in circulation, up from the current 16.3 million figure.
If the potential 17 million of bitcoins in supply is divided by the $1.75 trillion market cap estimate, then each bitcoin would be worth just over $100,000.
Van-Petersen – who ownsbitcoin– emphasizes that this is a rough calculation but that his growth predictions could be "conservative" given that in the year 2013 alone, bitcoin's price grew over 5,000 percent. The analyst said that cryptocurrencies will survive in the long run.
"This is not a fad, cryptocurrencies are here to stay," Van-Petersen told CNBC in a phone interview.
"There will emerge two to three main ones. Bitcoin will be one of those. And the reason is the first-mover advantage, the scale and the pioneering."
Van-Petersen's views are not the official view of Saxo Bank, the analyst said.
The bitcoin industry has had its fair share of problems and reputational damage. The digital currency has often had an image of being used for illegal means such as buying drugs online. Thecollapse of Mt.Gox in 2014, once the world's largest bitcoin exchange, is still fresh in the minds of users. Some members of the exchange are still waiting for compensation.
More recent issues include some exchanges not allowing people to withdraw their money in fiat currency. On top of this, the view of bitcoin as a currency for criminals is still prevalent after the major WannaCry ransomware cyberattack saw hackers lock peoples' files andask for bitcoin in exchange to unlock them.
Still, Van-Petersen says that the industry is still extremely young and big improvements will come. A few factors will boost bitcoin adoption including better wallets, easier methods to buy the digital currency, use of it for money transfers in areas like remittances, as well as citizens of countries with volatile economies and currencies buying it.
"Volumes are going up, volatility is going down. A lot of people talk about the volatility, but if you are in Zimbabwe or Venezuela, this volatility is nothing. This is the interesting thing to me. I think in the West, a lot of people view it is as speculative, but emerging markets will get it, their needs will be different," Van-Petersen added.
While Van-Petersen is offering one way to valuebitcoinin the future, others say that there are other factors to take into consideration.
"It's one way of slicing the pie to try and predict future prices which always relies on a lot of assumptions," Charlie Hayter, CEO of industry website CryptoCompare, told CNBC by email.
"Equating volumes to price value is one method of attempting a valuation, but it doesn't take into account the fundamentals of the ecosystem."
The fundamentals of what bitcoin is capable of from a technical point of view and how regulation is molded around its use will determine its value too, Hayter added.
More From CNBC
• Bitcoin is outperforming major assets but hedge funds are still staying away
• Bitcoin correction sees nearly $4 billion wiped off value of the cryptocurrency
• Op-Ed: Bitcoin is more akin to the Nasdaq than gold and is not a safe haven asset
[Random Sample of Social Media Buzz (last 60 days)]
Try AirTM best way to transfer money include BTC. #bitcoin #money #banking #moneysaving #cybersecurity #businesspic.twitter.com/NpDrZdXZ7H || Jul 16, 2017 09:30:00 UTC | 1,958.40$ | 1,707.70€ | 1,495.50£ | #Bitcoin #btc pic.twitter.com/zMfFdnESgw || LIVE: Profit = $6,047.13 (1.38 %). BUY B158.90 @ $2,750.00 (#BTCe). SELL @ $2,779.47 (#BitStamp) #bitcoin #btc - http://www.projectcoin.org || $2729.14 at 06:15 UTC [24h Range: $2640.00 - $2830.00 Volume: 9936 BTC] || #bitcoin #miner 100% NEW Ledger Nano S Pre Order September, Crypto Wallet Bitcoin,Ethereum,Zcash $250.00 http://ift.tt/2sGGJ95 pic.twitter.com/NMkCDppOy0 || $2633.46 at 17:30 UTC [24h Range: $2412.10 - $2645.00 Volume: 11553 BTC] || Jul 10, 2017 19:00:00 UTC | 2,432.50$ | 2,132.70€ | 1,887.60£ | #Bitcoin #btc pic.twitter.com/GiDGW7N5GM || Current price of Bitcoin is $2249.00. || 1 #BTC (#Bitcoin) quotes:
$2497.12/$2499.00 #Bitstamp
$2485.16/$2491.99 #BTCe
⇢$-13.84/$-5.13
$2490.01/$2516.51 #Coinbase
⇢$-8.99/$19.39 || #NowPlaying Corridos 4 - #BTC 1PwAWAiHqKzHP82yDS1UEuZz4E6VYpHgbB
|
Trend: up || Prices: 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-02-01]
BTC Price: 373.06, BTC RSI: 40.12
Gold Price: 1127.90, Gold RSI: 64.17
Oil Price: 31.62, Oil RSI: 45.46
[Random Sample of News (last 60 days)]
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. || Here's a sign that PayPal is embracing Bitcoin: PayPal was the hot new thing in payments when it launched in 1998, but in the era of digital currency, crowdfunding, micro-crowdfunding, and peer-to-peer lending, most people no longer see the company that way. So its newest board appointment is an effort to embrace the new landscape in digital payments. To that end, PayPal ( PYPL ) has named Wences Casares to its board of directors, the company announced on Wednesday. Casares is founder and CEO of Xapo, a wallet provider for the digital currency bitcoin, and before Xapo he founded Lemon, another digital wallet company. He is an unusual addition to a board that includes executives from AT&T ( T ), the American Red Cross, Enzon Pharmaceuticals ( ENZN ), and eBay ( EBAY ) cofounder Pierre Omidyar. It's likely a sign that PayPal is ready to embrace bitcoin and its technology. That's especially interesting considering that it is a company some bitcoin entrepreneurs often point to as "Web 1.0" and too slow because of its transfer delays and fees. One of the biggest selling points of bitcoin is the ability to send money to another country with little or no delay, and a fractional fee. "We’ve entered a period of unprecedented disruption in payments and financial services driven by the mass adoption of mobile technology and the digitization of cash," said PayPal CEO Dan Schulman in a statement . "Wences’ long and successful track record as international fintech entrepreneur with a focus on next-generation payment and crypto-currency is a perfect fit for PayPal at this time." PayPal declined to comment beyond the press release. Casares does not come without controversy. He is a serial entrepreneur who founded an Argentinian brokerage in 1997 and sold it to Banco Santander in 2000 for $750 million. Then he founded a Chilean videogame developer in 2002 and sold it to Activision ( ATVI ) in 2006. But he is currently being sued by LifeLock ( LOCK ), a $1.3 billion public company that offers online-identity protection. Story continues In December 2013 LifeLock acquired Casares's company Lemon for $42.6 million. In a lawsuit filed in August 2014, LifeLock says Casares built and launched Xapo, his current company, while working at Lemon, "developed by Lemon employees, in Lemon’s facilities, on Lemon’s computers, and on Lemon’s dime.” Casares and four Xapo employees (each of whom previously worked at Lemon) are named as defendants in LifeLock's suit. The company wants him to pay back “the value of the Xapo product attributable to Defendants’ misrepresentations, omissions, breaches of duty, and other wrongful conduct.” It does not specify an amount it is seeking, but assessing damages would involve placing a value on Xapo. Meanwhile, Casares has fought back, filing a cross-complaint of his own this past July, alleging poor management by LifeLock. (And LifeLock itself was forced to pay a $12 million fine to the FTC this past summer for false advertising of its product.) Some in the bitcoin community believe that LifeLock is upset that it overpaid for Lemon, while Casares has moved on to Xapo, which has raised $40 million in venture capital and might have more promise than Lemon ever did. What does all of this legal drama have to do with PayPal? Perhaps nothing—but if Casares is found guilty of the civil fraud that LifeLock alleges, it would be bad for not just Xapo, but now PayPal as well. Moreover, Fortune reported last year that some of Xapo's investors are angry that they were never made aware of the ongoing litigation against Casares. So PayPal has taken a risk in appointing Casares to its board, not only because of his current legal situation, but on a broader scale it has more strongly associated itself with bitcoin, an industry that is not without its negative headlines. (Just this week, Ross Ulbricht, the mastermind of Silk Road, the online drug marketplace that used bitcoin as its form of payment, appealed his recent life sentence.) Just over one year ago, PayPal made partnerships with some prominent bitcoin startups, like BitPay and Coinbase, but the noise of that move has since died down. PayPal now might want to explore a larger form of implementation around bitcoin, or it is intrigued by its underlying technology, the bitcoin blockchain, a public, decentralized ledger that records every single bitcoin transaction. Financial heavyweights like JPMorgan and Nasdaq have both expressed interest in harnessing the blockchain. Or maybe PayPal wants to buy Xapo. || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) - Celltick , a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider, Cable & Wireless Communications (C&W) ( LSE : CWC ). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets. Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen. "Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid. "We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product." Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries. Story continues About Cable & Wireless Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About Celltick Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visit www.celltick.com . || Australia's ASX invests in blockchain to simplify markets: SYDNEY (Reuters) - Markets operator ASX Ltd on Friday said it has made a minority investment in U.S.-based Digital Asset Holdings to develop distributed ledger technology, or blockchain, to potentially simplify Australias post-trade equity market. Blockchain technology, pioneered by Bitcoin, maintains a continuously growing list of transaction data which cannot be tampered with or revised. ASX paid A$14.9 million ($10.43 million) for a 5.0 percent equity interest in Digital Asset along with funding an initial phase of development and acquiring a warrant that will give it the right to purchase further equity and appoint a director to the board. ASX will work with Digital Asset to design a new post-trade solution for the Australian equity market, it said in a statement on Friday. Over the past year, interest in blockchain technology has grown rapidly. It has already attracted significant investment from many major banks, which reckon it could save them money by making their operations faster, more efficient and more transparent. (Reporting by Swati Pandey) || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. "To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) || 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) || Record highs predicted for bitcoin in 2016 as new supply halves: By Jemima Kelly
LONDON (Reuters) - 2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason - slower growth in the money supply.
Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.
The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand.
Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $11,000 (BTC=BTSP).
But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", who has yet to be identified, the bitcoin program was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation. The next time that is due to happen is July 2016.
Bitcoin was also designed to emulate a commodity by having a finite supply of 21 million bitcoins, which will be reached in around 125 years, up from around 15 million today. Hence, also, the use of the term "mining".
Daniel Masters, co-founder of Jersey-based Global Advisors' multi-million dollar bitcoin hedge fund, started his career as an oil trader at Shell in the mid-1980s and spent 30 years trading commodities before crossing over to bitcoin.
Now he reckons the price of bitcoin could test its 2013 highs of above $1,100 next year and then pick up speed to rise to $4,400 by the end of 2017.
That would be due to a number of factors, Masters said, including an increased acceptance of payments in bitcoin by big companies and authorities, rapidly growing interest and investment in the "blockchain" technology that underpins bitcoin transactions, and also more demand from China as its currency weakens and the economy slows.
But taken in isolation, the halving of the mining reward will increase the price of bitcoin by around 50 percent from where it is now, Masters reckons. That is despite the fact that the halving of the reward has always been inevitable - a factor that would already have been accounted for in pretty much every other market.
"If OPEC (Organization of the Petroleum Exporting Countries)came out tomorrow and said, 'in six months' time we're going to halve oil production', the oil price would instantaneously react. But the bitcoin market is still in its infancy, and I don't think that factor is discounted into the price fully," he said.
DECENTRALIZED DIGITAL ASSET
Bitcoin's price has already almost doubled in the last three months, putting it on track for its best quarter in two years. It hit $500 last month for the first time since August last year, with Chinese demand for a pyramid scheme set up by a Russian fraudster cited as a reason for the price surge.
But Bobby Lee, the chief executive of one of the leading bitcoin exchanges in China, BTCC, reckons there is scope for the cryptocurrency to go much further. He thinks the price could increase by as much as eight times in the time up to the reward halving, taking it as high as $3,500 by next summer.
"Today the worth of bitcoin is $1 per capita in the world (population)," Lee said, referring to the value of all the bitcoins in circulation, around $6.5 billion. "For such an innovative, decentralized digital asset, I say 'boy, are we undervaluing it'. But it takes a while for people to realize that."
The mining reward has already been halved once before, in November 2012, from 50 to 25 bitcoins. The stakes were much lower then, with one bitcoin worth around $12, but nevertheless the price increased by about 150 percent in the preceding seven months - roughly the time left before the next halving.
"It (the halving) dampens supply so, all other things being equal, that puts upwards pressure on price," said Jeremy Millar, partner at London-based financial technology specialists Magister Advisors, who expects demand to continue to increase.
"No one can argue with that fundamental economic principle."
(Editing by Greg Mahlich) || What's In Store For Bitcoin In 2016?: This year was a difficult one for cryptocurrencies as they struggled with volatile prices and negative press. Many view currencies like bitcoin as tools for criminals and investors tended to shy away from the currency as volatile price swings made it difficult to make accurate predictions. However, many believe that 2016 could be a monumental year for bitcoin as and the underlying technology that the coin runs on gains notoriety. Supply Cut Unlike traditional currencies, the number of bitcoins available to the public is controlled by mining computers. The computers essentially solve mathematical puzzles in order to release new bitcoins. The system was also designed to keep the number of bitcoins finite at 21 million coins, a figure to be reached in the next 125 years. Not only that, but the reward for mining bitcoins would be cut in half every four years, and July 2016 marks the next time that cut is set to take place. Related Link: Ben Bernanke Sees Serious Problems With Bitcoin Price Increase Many believe that halving the number of bitcoins received from each mining transaction will give the cryptocurrency's price a boost. While it has been well known for years that bitcoin supply would be reduced, the fact that the bitcoin market is still so new has kept traders from fully pricing the event in. Blockchain Investments Bitcoin could also see a boost in the coming year as blockchain gains popularity across several industries. The ledger-like system that bitcoin runs on has been touted as one of the most important technological advances of the decade, and many see it revolutionizing the way several industries do business. Blockchain has been suggested as a way to improve the real estate market, make the music industry more transparent and improve the speed and efficiency of financial transactions. See more from Benzinga FedEx Gets The Blame For Holiday Delays How Blockchain Can Reform The Real Estate Industry Not All Of Clinton's Policies Are Bad For Pharmaceuticals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Here’s a breakdown of his list.
1. Revolution in a major emerging market
Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment.
2. Bitcoin outperforms all fiat currencies
Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency won’t outperform again in 2016.
3. A major currency peg will break
Lingenheld notes that the IMF’s annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE.
“Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development,” Lingenheld explains.
4. Corn and wheat will each rally at least 20 percent
Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring.
5. A unicorn company will go bankrupt
Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointingSquare Inc(NYSE:SQ) IPO pricing. He believes that the reality of competing with big tech companies likeAlphabet Inc(NASDAQ:GOOGL), Apple Inc.(NASDAQ:AAPL) andAmazon.com, Inc.(NASDAQ:AMZN) will start weighing heavily on smaller unicorn companies and their investors.
Disclosure: the author holds no position in the stocks mentioned.
Latest Ratings for AAPL
[{"Dec 2015": "Dec 2015", "Cowen & Company": "Barclays", "Maintains": "Maintains", "": "", "Market Perform": "Overweight"}, {"Dec 2015": "Dec 2015", "Cowen & Company": "BMO Capital", "Maintains": "Initiates Coverage on", "": "", "Market Perform": "Outperform"}]
View More Analyst Ratings for AAPLView the Latest Analyst Ratings
See more from Benzinga
• Apple's Chart Indicates A Tough Start To 2016 Ahead
• CES 2016 Expected To Be Huge For Drones, Virtual Reality And Wearables
• Apple Stock For ? How Fractional Investing Changes The Game
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$455.50 at 00:15 UTC [24h Range: $448.00 - $458.33 Volume: 2876 BTC] via #btcusdpic.twitter.com/Ie0aAH2CVl || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $241.77 #bitcoin #btc || LIVE: Profit = $392.61 (4.67 %). BUY B20.40 @ $420.00 (#VirCurex). SELL @ $432.38 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || $369.30 at 17:45 UTC [24h Range: $352.00 - $394.55 Volume: 28074 BTC] via #btcusdpic.twitter.com/PlVTrUjNJF || LIVE: Profit = $237.48 (7.63 %). BUY B8.08 @ $410.00 (#VirCurex). SELL @ $414.53 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $460.78 at 20:00 UTC [24h Range: $452.03 - $465.90 Volume: 8806 BTC] || #BDSMcoin #BDSM $ 0.000168 (1.38 %) 0.00000040 BTC (0.00 %) || $449.08 at 20:15 UTC [24h Range: $414.03 - $450.00 Volume: 23181 BTC] via #btcusdpic.twitter.com/VkWnXhFPVz || In the last 10 mins, there were arb opps spanning 11 exchange pair(s), yielding profits ranging between $0.00 and $259.47 #bitcoin #btc || LIVE: Profit = $929.00 (9.57 %). BUY B23.31 @ $450.00 (#VirCurex). SELL @ $456.59 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-09-27]
BTC Price: 19110.55, BTC RSI: 43.20
Gold Price: 1626.70, Gold RSI: 28.50
Oil Price: 78.50, Oil RSI: 34.94
[Random Sample of News (last 60 days)]
Bitcoin and Ethereum jump on inflation news, talk of summer rally: The cryptocurrency market perked up on Wednesday morning following news that inflation cooled off last month. With declining gas prices and airfares, the Consumer Price Index (CPI) rose 0%, remaining flat, from June to July, but jumped 8.5% over the past year. Though thats still high, its better than expected, and provides a bit of relief for investors. Bitcoin (BTC) jumped 3% after the report, hitting a 24-hour high of $24,205 at 9:30 a.m. EST. The largest cryptocurrency by market value has since leveled, currently trading at around $24,000. Meanwhile, Ethereum's currency, Ether (ETH), leapt 6% on the news and is up 9.6% over the last day. It is currently trading around $1,845. The saying is that optimism in a bear market is more precious than diamonds, so we are seeing hope here, Youwei Yang, director of financial analytics at StoneX, tells Fortune. In addition to slowed inflation, excitement surrounding the Ethereum merge, a highly anticipated upgrade promising to improve the networks efficiency, is also likely contributing to Ethers bullish run, as later today, Ethereum is likely to run through its final test for the merge. The September [Ethereum] merge bet still goes on as the open interest of derivatives for ETH is higher than for BTC, for the first time ever, Yang said. This mornings CPI has relieved some macro fear and continue to support the summer rally of crypto led by 'ETHusiasms.'" Altcoins, or cryptocurrencies aside from Bitcoin, are also in the green. Cardanos ADA, Solanas SOL, Polkadots DOT, and Avalanches AVAX are up 5%, 4%, 9% and 8% respectively in the last 24 hours. For this bullish scenario to continue, Ryan Shea, crypto economist at trading platform Trakx, tells Fortune , the Federal Reserve requires confirmation that inflation has peaked and is rapidly falling back towards its 2% inflation target. This story was originally featured on Fortune.com || 3 Short-Squeeze Stocks Set to Spike: Short-squeeze stocks are back on many investors’ radars as meme stock mania appears to be in full swing once again. The experts who thought the trend was over are in for a rude surprise. The prominent recent moves of stocks like Bed, Bath and Beyond (NASDAQ: BBBY ) illustrate meme stocks are still a force. A short squeeze is when a heavily shorted stock or other asset rises sharply, forcing short-sellers to buy back the shares to avoid heavy losses. This buying pressure can cause the asset price to rise, leading to even more short covering and a short squeeze. While short-squeeze stocks come in all stripes, they are most commonly seen in companies with high short interest levels. When a short squeeze happens, it can boost the company’s share price in question. However, it is important to note that short squeezes are often followed by a period of consolidation or even a sharp sell-off as the short sellers take their profits and move on. As such, investors need to be aware of the risks involved before buying in short-squeeze stocks to enthusiastically. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With that in mind, let’s look at three prominent short-squeeze stocks with high short interest. EVGO EVgo $9.05 WRBY Warby Parker (NYSE: $13.69 SOLO ElectraMeccanica $1.36 EVgo (EVGO) EVgo fast charging station Source: Sundry Photography / Shutterstock.com One of the more prominent plays to emerge ub the EV space recently is EVgo (NASDAQ: EVGO ), a company that debuted via the SPAC merger. Shares went hyperbolic on debut, opening at $15 a pop. However, things have quieted since then, and the bears circling the stock. Though EVgo is growing fast, the company is still rather young. It’ll need more time to get to profitability. Keeping this in mind, this EV play is risky, but that comes with the territory when discussing short-squeeze stocks to buy. Warby Parker (WRBY) The front of a Warby Parker (WRBY) store in Hoboken, New Jersey. Source: Dev Chatterjee / Shutterstock.com Warby Parker (NYSE: WRBY ) sells a variety of glasses and sunglasses. The company is considered one of the world’s most innovative direct-to-consumer brands. It clearly has a proven track record for success. Story continues However, the issue bears have are the losses, which are mounting despite high sales growth. In its most recent quarterly earnings, investors came to know revenues came in at $149.62 million, a double-digit rise from the year-ago period. However, losses during the same period losses jumped 212.08%. Consequently, short interest in Warby Parker has grown substantially. And with the stock still trading well below its all-time highs, there’s potential for further upside. So, for those looking for short-squeeze stocks, Warby Parker is worth considering. Electrameccanica Vehicles Corp. (SOLO) An image of a charging station for an EV on a dark background; EV stock Source: Marko Aliaksandr / Shutterstock . ElectraMeccanica (NASDAQ: SOLO ) is a single-person electric vehicle that can go up to 100 miles on a charge. It plugs into any standard outlet to recharge. The company is also expanding its product line with a Cargo version of the SOLO. The company reported top-line growth of 417.65%, with total revenue reaching $1.55 million. However, Electrameccanica also reported a net loss of $20.3 million for the quarter. While the loss is significant, it is important to note that Electrameccanica is a young company that is still in the investment phase. The company is encouraged by strong top-line growth and remains committed to its long-term goal of becoming a profitable and sustainable business. However, until it happens, given the size of its losses, short interest will remain high, ensuring its place among short-squeeze stocks. On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Short-Squeeze Stocks Set to Spike appeared first on InvestorPlace . || Bitcoin miner PrimeBlock ditches SPAC listing plan: Bitcoin miner Prime Blockchain Inc., also known as PrimeBlock, has dropped its public listing plan via a blank-check company merger valued at US$1.25 billion, joining a number of crypto firms that have delayed or canceled similar listing plans.
See related article:Markets: Bitcoin, Ether fall; Dogecoin outperforms, Cardano edges higher
• PrimeBlock and 10X Capital Venture Acquisition Corp. II, a special purpose acquisition company (SPAC), have agreed to mutually terminate the merger on Aug. 12, according to afilingwith the U.S. Securities and Exchange Commission.
• The pairformed the listing planin April with a timeline to complete the deal in the second half of this year, according to anotherSEC filing.
• The SPAC company did not specify the reason for ditching the merger plan. PrimeBlock did not immediately respond toForkast’srequest for comment.
• A number of crypto SPAC deals have beendelayed or terminatedin the past few months amid market downturns. In July, equities and crypto trading platform eToroterminatedits SPAC merger.
See related article:Bullish delays $9B SPAC merger, awaits SEC approval || Renowned "Bubble Predictor" And Founder Of $70 Billion Investment Firm Reveals Why "Dot-Com Crash Was Paradise Compared To Now": New York --News Direct-- Masterworks The great Warren Buffet famously said: “only when the tide goes out do you discover who's been swimming naked.” If the markets have shown anything recently, it's that holders of growth stock powerhouses like TSLA , AAPL , and AMZN are in need of a bathing suit. Since 2022 began, more than $1 trillion combined has been wiped from their total share value. Cryptocurrencies, often touted as a hedge to choppy markets, are mimicking the stock market’s slide. According to Arcane Research, the 30-day average correlation between Bitcoin and the Nasdaq reached as high as .82 in early May. Bitcoin has plunged more than 50% from November highs. All while inflation continues to run-hot, pushing real bond yields into negative territory. All Eyes on This Safe-Haven Asset While financial markets around the world are hanging by a thread the $1.7 trillion art market has shown resilience and delivered record-breaking results. In the midst of all this turmoil, the art market had some of its biggest sales on record. As the New York auction season revved up, a masterpiece by legendary artist, Andy Warhol fetched $195 million at auction. For many collectors, this isn’t a hobby—it's serious business. Jeff Bezos, who once attempted to collaborate with Sotheby’s in an ill-fated venture in 1999, has set record prices with recent art purchases. In 2020, Bezos spent a combined $70 million for two paintings by Ed Ruscha and Kerry James Marshall. As an investment, fine art is prized for not only its appreciation but its low correlation to public markets, and inflation-hedging qualities. In its latest art market report, Citi concluded that art has historically had a near-zero correlation of -.04 to developed equities, the lowest of any major asset class. With investors fleeing to safety, experts expected the demand for high-quality works to be high. Even still, the results shattered expectations. Is this market just heating up? If the recent auction results are any indication, 2022 could be one of the best years for the art market on record. In the first half of the year, the grand total generated at art auctions came out to $5.7 billion. Story continues The art market’s resilience is not a new phenomenon. According to data from Citi, the art market returned 28.2% during COVID-19. New Demand is Driving Growth Demand in the art market has been linked to increasing levels of wealth. In recent years, fast growing emerging economies in Asia have been a massive source of demand, particularly for younger buyers. But in today’s digital world access to the art market has also improved dramatically. As Citibank recently reported, fractional investing of fine artworks has opened the market to investors well beyond the ultra-wealthy. With the Wall Street Journal recently calling the art market one of the hottest in the world, investors are flocking to alternative investing platforms. The recognized leader in the space, and first such platform to hit the market, is Masterworks . According to the company, it has regularly offered investments in blue-chip artists like Andy Warhol, Basquiat, and Banksy to its members. Masterworks cites a track record of 14.3%, net of fees, since its inception. Masterworks' mission is to democratize the art investing world and help people tap into an investment previously exclusive to the ultra wealthy. We are the only platform that lets you invest in multi-million dollar works of art by artists like Basquiat, Picasso, Banksy, and more. Contact Details Tom El-Hillow +1 203-518-5172 telhillow@masterworks.io Company Website https://www.masterworks.io/ View source version on newsdirect.com: https://newsdirect.com/news/renowned-bubble-predictor-and-founder-of-70-billion-investment-firm-reveals-why-dot-com-crash-was-paradise-compared-to-now-353962279 || 7 Best AI Stocks to Buy Now: While there are plenty to choose from the best AI stocks hold next-generation potential.
AI is a rapidly evolving industry with plenty of wiggle room for companies to carve out a niche. Experts have suggested that most companies will use AI by 2030, adding over $13 trillion to the world’s economy.
The long-term case for investing in AI stocks remains as compelling as ever, especially with the proliferation of tech during the pandemic.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Moreover, with stocks trading at multi-year lows, many of the AI stocks trading at frothy valuations are now up for grabs. Hence, here are seven of the best AI stocks you should invest in at this time.
[{"SPLK": "PATH", "Splunk": "UiPath", "$88.15": "$13.84"}, {"SPLK": "UPST", "Splunk": "Upstart", "$88.15": "$26.65"}, {"SPLK": "TWLO", "Splunk": "Twilio", "$88.15": "$67.90"}, {"SPLK": "DUOT", "Splunk": "Duos Technologies Group", "$88.15": "$4.27"}, {"SPLK": "NVDA", "Splunk": "Nvidia", "$88.15": "$137.14"}, {"SPLK": "IDEX", "Splunk": "Ideanomics", "$88.15": "$.55"}]
Source: Michael Vi / Shutterstock.com
Splunk(NASDAQ:SPLK) is an AI specialist, enabling its clients to make sense of mountains of data.
Its Big Data solutions have been a hit with several of the top firms across the globe, which has enabled it to post double-digit growth across its top line over the past several years.
The enterprise is in the midst of a transition toward a recurring cloud-based services model. The transformation will help boost margins significantly in the long run and help Splunk turn a profit soon.
Splunk serves 90% of the Fortune 100 companies, while clients spending over $1 million annuallyhit an all-time high of 723 during the quarter. It represents a massive 24% jump from the prior-year period.
Its cloud services continue to drive growth, with an incredible 50% improvement in sales during the second quarter. Hence, the transition is already paying dividends in a big way for the business.
Source: dennizn/Shutterstock.com
UiPath(NYSE:PATH) has established itself as a leader in an evolving secular growth sector. The robotic process automation (RPA) provider allows various companies to automate their routine activities through AI effectively.
Since listing on the stock exchange in April last year, PATH stock has endured a rough start.
The business remains largely in stable condition with its annualized renewal run rate, a metric showing its recurring revenues rose an incredible 50%.
Moreover, its net retention rates have stayed above the 100% threshold.According toGrand View Research, the global RPA industry is set to make a whopping $23.9 billion in total sales by 2030. Attaining just a fraction of that market could have UiPath raking in billions in sales each year, making it one of the best AI stocks out there now.
Source: rafapress / Shutterstock.com
Upstart(NASDAQ:UPST) is an AI-based lending business that gained immense traction last year.
Naturally, its business model was a massive hit in 2021, when the economy was flushed with stimulus money. The current situation, though, has changed completely with the rampant increase in interest rates. Lenders and loan buyers taking on greater risk are looking for higher profit margins on their loans.
The firm couldn’t find buyers for its loans and was compelled to originate loans at unprofitable prices. Upstart decided to hold portions of these loans instead of selling them at a loss. Hence, the business can hardly rely on buyers in such unprecedented times.
Sensing a need for change, management is looking to change its business model and provide consistent funding regardless of the credit market cycles. Combining that with the robustness of its algorithms, UPST could significantly expand its business over the long term.
Source: Piotr Swat / Shutterstock.com
Twilio(NYSE:TWLO) offers services as a cloud-based AI customer engagement solutions provider.
Its clients can use its platform to embed various communication features into mobile applications and websites. Additionally, it continues to add to its product offerings, dishing out new products such as Flex, which builds cloud-based centers for firms.
The closure of the Flex deal helped Twilio generate an incredible 41% jump in sales during the second quarter. The resultscame in significantly highercompared to management expectations. What’s heartening is that it was able to pull off such results despite the decelerating economic growth, foreign currency headwinds, and other headwinds.
The stellar results are attributable to Twilio’s aggressive merger and acquisitions strategy and the need for customers to update their communication tools for the cloud sector. Moreover, with a massive cash balance of over $4.4 billion, it can continue to expand its business and serve more customers rapidly.
Source: Shutterstock
Duos Technologies Group(NASDAQ:DUOT) is a budding AI specialist developing algorithms with utility across multiple industries.
Its remarkably accurate algorithms have immense long-term potential in many of the areas highlighted by its management, including railcars, trucks, and aircraft inspection portals, along with 5G Edge data centers.
Moreover, the company is undergoing a transformation of sorts under its new CEO, who is focusing on transitioning the business towards a recurring business model.
Additionally, the goal is to improve the supply chain, organization, core capabilities and talent. Its massive order backlog is a testament to its long-term potential.
Perhaps a near-term catalyst for the firm is its railcars inspection portal that can automatically detect problems to see if there’s anything serious with a railcar at speed. Itrecently secured a $9 million contractfrom passenger railroad service Amtrak.
Source: Shutterstock
With the proliferation of AI-generated datasets, the need for powerful hardware is imperative. Hence, GPU giants such asNvidia(NASDAQ:NVDA) are excellent long-term AI plays.
The expansion in AI has spurred incredible growth in the data center segment, software development kits and other segments. Additionally, the business has been a growth juggernaut over the years, with top-line growth averaging in at around 34.6%.
Its key segments have all posted double-digit growth in the past few years and have held up well despite the market headwinds. Also, it was also looking to carve out a niche in the metaverse.
It is positioning itself as a top player in the field and is likely to succeed due to its high-end graphics and AI-related expertise. Therefore, NVIDIA is an AI stock that can’t be missed with its fingers in several AI-related verticals.
Source: Marko Aliaksandr / Shutterstock
Ideanomics(NASDAQ:IDEX) operates an electric vehicle (EV) and financial services business.
It’s made up of five companies that generate revenues from a fully electric car ecosystem that covers battery sales to financing, leasing, and insurance. In the past few quarters, it has witnessed a healthy uptick in sales, which creates a positive long-term outlook for the business.
Last year, it transformed itself through various acquisitions that enabled it to pursue its vision of becoming a fully-integrated provider of commercial electrification solutions. Hence, it has significantly expanded its competencies in the different EV businesses it operates.
These business areas all offer an enormous growth runway ahead, with multi-billion dollar addressable markets. In its most recent quarter, the company posted a dumbfounding $114.08 million in sales,representing over 326% growthfrom the same period last year.
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
• Buy This $5 Stock BEFORE This Apple Project Goes Live
• The Best $1 Investment You Can Make Today
• Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
• It doesn’t matter if you have $500 or $5 million. Do this now.
The post7 Best AI Stocks to Buy Nowappeared first onInvestorPlace. || Crypto ATM Operator Bitcoin Depot to List on Nasdaq in $885M SPAC Deal: Bitcoin Depot, the world's largest operator of crypto ATMs, plans to go public with a listing on Nasdaq by merging with special purpose acquisition company (SPAC) GSR II Meteora at an estimated value of $885 million, according to a statement shared with CoinDesk. The deal is expected to close by the first quarter of 2023, a spokesperson told CoinDesk. Read more: What Is a SPAC? Your Questions Answered The ATMs enable users to purchase crypto with cash or debit cards and wire the tokens directly to a wallet of their choice without going through a crypto exchange. They are, however, also used by scam artists who advertise goods on eBay or Craigslist, instruct their victims to pay by depositing physical currency in an ATM and wiring crypto to a particular wallet and then do not deliver the goods. In March, the U.K.'s Financial Conduct Authority (FCA) warned that crypto ATMs operating in the country are illegal and must be shut down. Atlanta-based Bitcoin Depot says it has a network of over 7,000 locations across the U.S. and Canada, giving it a global market share of 19.1% according to data from Coin ATM Radar . There are more than 38,000 crypto ATMs installed in almost 80 countries, the data show. Mergers with SPACs have been a popular way of going public in recent years accounting for more than half of all initial public offerings in 2020-2021, the U.S. Securities and Exchange Commission (SEC) reported in March. Not all proceed to fruition, however, with some, including the planned $1.25 billion listing of bitcoin (BTC) miner PrimeBlock, being canceled as the crypto market slumped. The SEC has said it intends to subject SPAC mergers to greater scrutiny, saying it will propose “specialized disclosure requirements with respect to ... compensation paid to sponsors, conflicts of interest, dilution and the fairness of these business combination transactions.” Read more: UK FCA Orders Operators to Shut Down Crypto ATMs || GLOBAL MARKETS-European stocks fall as weak economic data hits sentiment: * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn * Graphic: World FX rates http://tmsnrt.rs/2egbfVh LONDON, Aug 19 (Reuters) - European stock indexes fell on Friday after German producer prices saw their biggest rise on record, while the dollar hit a one-month high as investors stayed cautious. Asian stocks had struggled to find direction, with concerns about the health of China's economy weighing on sentiment, and by 0820 GMT, the MSCI world equity index, which tracks shares in 47 countries, was down 0.3% on the day. In Europe, German producer prices - which are seen as a leading indicator for inflation - saw their highest ever increases in July, data released early in the session showed, as energy costs continued to surge. Energy prices were up 105% compared with July 2021, mainly due to higher prices for natural gas and electricity. Natural gas prices had hit a record closing high on Thursday . Germany's finance ministry said on Friday that the economic outlook for Germany is gloomy. Europe's STOXX 600 was down 0.4% on the day, on track for a 0.4% weekly decline too. German bond yields rose, with the 10-year yield gaining as much as 8 basis points to 1.184%, a four-week high, as the producer price data was seen as reinforcing fears of "stagflation" - a combination of high inflation and low growth. Meanwhile, UK consumer sentiment hit its lowest since at least 1974 in August, with households feeling "a sense of exasperation" about the rising cost of living. British retail sales data for July came in higher than expected, driven by a surge in online spending, but volumes are expected to resume their decline as costs rise. The Bank of England has warned that high inflation is likely to tip Britain into a recession later this year. "When market participants start to return from their holidays and look back at the past days and weeks, they will find central banks still far from having achieved their goals of reining in inflation," ING rates strategists said in a note to clients. "That means a continued tussle between central bank tightening expectations and recession fears." The threat of higher borrowing costs also hung over markets as no less than four U.S. Federal Reserve officials signalled there was more work to do on interest rates, with the only difference being on how fast and high to go. The U.S. dollar benefitted from the Fed's hawkish comments, hitting a one-month high. The dollar index was up 0.2% at 107.7 and the euro was trading at $1.008. The euro has lost 1.7% versus the dollar so far this week. Story continues The dollar also rose versus the Japanese yen, with the pair up 0.5% at 136.54. The 10-year U.S. Treasury yield climbed higher, close to a one-month high at 2.9317%. Oil prices slipped after two days of gains, set for a weekly drop as traders worried about a global economic slowdown. Bitcoin dropped sharply and hit a three-week low of $21,404. Next week, investors will be paying close attention to the minutes from the European Central Banks' July meeting, as well as comments by U.S. Federal Reserve Chair Jerome Powell when he addresses the annual global central banking conference in Jackson Hole on Aug. 26. UK and euro area "flash" PMI data is due on Aug. 23. (Reporting by Elizabeth Howcroft; Editing by Jacqueline Wong) View comments || Bitcoins carbon footprint drops but mining still uses more power than some nations: The amount of greenhouse gases produced by Bitcoin mining has dropped this year but the cryptocurrency still consumes more power than some nations. Cryptocurrencies like Bitcoin are created by computer processors carrying out intensive mathematical solutions over a lengthy process and consumes vast amounts of energy. The most well-known cryptocurrency generates 48.35 million tonnes of carbon dioxide equivalent (MtCO 2 e), or 0.10% of global greenhouse gas emissions , according to an analysis by the Cambridge Centre for Alternative Finance (CCAF). Bitcoin creation creates a similar amount of emissions as countries such as Nepal and the Central African Republic, and about half the emissions from gold mining. The new tool estimates current greenhouse gas emissions of 48.35 million tonnes of carbon dioxide equivalent (MtCO 2 e), or 0.10% of global greenhouse gas emissions, similar to the emissions of countries such as Nepal and the Central African Republic. Bitcoin and other cryptocurrencies can be extremely volatile (Getty Images/ iStock) Environmentalists, financial institutions and policymakers are growing increasingly concerned about Bitcoins seemingly insatiable electricity consumption and its associated environmental repercussions. The CCAF has developed a tool to estimate Bitcoins environmental footprint on a day-to-day basis. Alexander Neumueller, Digital Assets CBECI Project Lead at CCAF, said: Environmentalists, financial institutions and policymakers are growing increasingly concerned about Bitcoins electricity consumption and its associated environmental repercussions. The tool estimates the share of sustainable energy sources in Bitcoins electricity mix at 37.6% (26.3% renewables and 11.3% nuclear), which is significantly lower than industry estimates suggest (59.5%). A significant decrease in mining profitability led to a decline in electricity consumption, Neumeller added. Given the recent sharp decline in mining revenue per unit of computing power provided, a shift to more efficient hardware occurs, which leads to the, at least temporary, retirement of older, less efficient hardware. || HUMBL ANNOUNCES ENTRY INTO AGREEMENT TO ACQUIRE AGORA DIGITAL IN ALL STOCK TRANSACTION: COMBINEDFINTECHCOMPANYWOULDOFFERASUITE OFCONSUMERANDENTERPRISE BLOCKCKHAIN PRODUCTS, ALONG WITHDIGITAL ASSETMINING SOLUTIONS
HUMBLCONTINUING STRATEGIC PLAN TOTAKESTEPS NEEDED TO UPLIST TO A NATIONAL EXCHANGE
San Diego, California, Aug. 11, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (“HUMBL” or the “Company”) (OTC Markets: HMBL) announced today that it has executed a definitive agreement to acquire Agora Digital Holdings, Inc. (“Agora Digital”), a blockchain technology company focused on Bitcoin mining. Agora Digital is a majority owned subsidiary of Ecoark Holdings, Inc. (“Ecoark”) (NASDAQ: ZEST).
The closing of the acquisition is subject to satisfaction of certain closing conditions. The primary closing condition is that Ecoark and its executive team are required to source a minimum of $10,000,000 in capital for HUMBL prior to the transfer of ownership of Agora Digital to HUMBL. The owners of Agora Digital would receive $60,000,000 in a new class of preferred stock in consideration for selling their interests in Agora Digital. Additional details will be provided at a future date via a Form 8-K to be filed by the Company with the definitive agreement and other transaction documents.
HUMBL believes this acquisition will be beneficial for two primary reasons. First, Agora Digital has secured significant power contracts and has developed scalable infrastructure for Bitcoin mining in an ESG sensitive manner. Upon securing the funding required to close, a portion of those funds can be used to generate revenues for HUMBL through Bitcoin mining. Second, Agora Digital’s management team has deep experience running public companies and has gone through the exchange uplisting process. They are being brought on specifically to lead the uplisting of HUMBL to a national securities exchange.
Upon completion of the transaction, Brad Hoagland will be appointed as CEO and Brian Foote will move to an Executive Chairman role. Brad will focus on running day-to-day operations and leading the uplisting process. Brian will still be intimately involved with HUMBL and will be freed up to focus on product ideation, design, sales, business development, blockchain technology, media relations and creating and implementing the Company’s strategic vision.
“Agora Digital provides an instant entry for HUMBL into digital asset mining,” said Brian Foote, Chairman and CEO of HUMBL. “Furthermore, with the addition of Brad Hoagland, CEO of Agora Digital, HUMBL obtains a C-Level executive who has successfully uplisted a company from the OTC to a national securities exchange and has acted as an officer of a NASDAQ company. This transaction is the next step of the strategic plan to put HUMBL in the best position to apply to uplist to a national securities exchange and deliver a full Web 3 stack of consumer, enterprise and mining products into the public markets.”
“We believe that decentralized blockchain technologies will be a significant driver of financial market innovation over the next decade,” said Brad Hoagland, CFA, CEO of Agora and Board Member of HUMBL. “HUMBL’s Web3 consumer and enterprise product stacks are the perfect complement to Agora’s power infrastructure and digital asset mining capabilities. I am looking forward to taking a key role in the new combined company in order to position HUMBL for long-term success across a full stack of blockchain products and services in the public markets.”
About HUMBL
HUMBL is a Web 3, blockchain platform with consumer products and commercial services.
About AgoraDigital
Agora Digital is a Bitcoin mining and blockchain technology company with power contracts and scalable infrastructure in West Texas. The company is pursuing bitcoin mining projects in both North and South America.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT:
PR@HUMBLPay.com || Bitcoin Depot to list in the U.S. through $885 million SPAC deal: (Reuters) -Fintech Bitcoin Depot plans to list in the United States by merging with blank check company GSR II Meteora Acquisition Corp in a deal valued at $885 million, the companies said on Thursday. The transaction will raise up to $321 million of cash held in GSRM's trust account and will be used to support Bitcoin Depot's working capital, complete acquisitions and scale its platform and suite of products. Assuming no redemptions, the combined company will be valued at $755 million, including debt, with an equity value of $885 million and up to $170 million in cash proceeds from the deal, according to a statement. Bitcoin Depot, founded in 2016, is a bitcoin ATM operator in North America that enables users to convert their cash into bitcoin, ethereum and litecoin at more than 7,000 kiosk locations in 47 U.S. states and nine Canadian provinces. Special purpose acquisition company GSRM, which raised $316 million in an initial public offering in March this year, is pushing ahead with the deal at a time when few are. https://bwnews.pr/3CxbAfY A SPAC is a listed firm with no business operations but a pool of capital that it uses to merge with a private company. The deal then takes the private company public. High rates of shareholder redemptions and regulatory concerns have dissuaded companies seeking to go public through the SPAC route stifling dealmaking in the sector which took wall Street by storm in the past two years. Among companies that have recently scrapped their agreements to go public via SPACs include telecom services firm Syniverse Technologies, 3D printing firm Essentium Inc and travel technology platform HotelPlanner. The deal, expected to close by the first quarter of next year, is being advised by Oppenheimer & Co. Inc. The combined company will list on Nasdaq under the symbol 'BTM'. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh Kuber)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 19426.72, 19573.05, 19431.79, 19312.10, 19044.11, 19623.58, 20336.84, 20160.72, 19955.44, 19546.85
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-07-30]
BTC Price: 42235.55, BTC RSI: 75.02
Gold Price: 1812.60, Gold RSI: 51.28
Oil Price: 73.95, Oil RSI: 57.56
[Random Sample of News (last 60 days)]
NFL’s Richard Sherman: It's 'time to address' mental health: Richard Sherman, one of the NFL’s most prolific defensive stars, recently collaborated with health tech company Nurosene to spread awareness about mental health issues.
The 10-year veteran cornerback said in an interview with Yahoo Finance Live that the pandemic has created an opportunity for people to be more honest in their personal assessments of mental health.
“I think [mental health has] been a huge issue for a really long time,” Sherman said. “And I thought it was time to address it. I think, obviously, the pandemic has done a tremendous job of making people sit back and be introspective about how they deal with their own thoughts, their own issues, [and] their mental health in general,” he said.
Sherman teamed up with Nurosene and was appointed brand ambassadorearlier this month. The Canadian company was founded in May 2020 by functional neurologist Daniel Gallucci and aims to leverage “the power of technology to provide a personalized approach for your overall brain performance and health.”
Nurosene CEO Ranj Bath described the company as “democratizing” health care in the mental health space by making activities that would usually occur in a clinic available to all. “So like brain coaching, brain health exercises, educating people on the importance of coaching your brain and increasing blood flow to your brain,” Bath told Yahoo Finance. “That's going to help to alleviate a lot of other symptoms.”
Within the professional football in particular, Sherman said, mental health issues can be difficult to address. The NFL, founded in 1920, is part of a sports industry which has maintained certain expectations regarding players’ performances for decades, he explained.
“I think it's difficult because these industries are so old,” Sherman said. “And they've done things a certain way for so long that it's difficult for them to change. They're so rigid in the way they deliver sports to the consumer and the way the consumer engages.”
High expectations from both fans of the sports and the media can give players anxiety, the former San Francisco 49er said. Constantly interacting with the media and the public can take a serious toll on an individual's mental health.
“You would hope that, at some point, you'd get to the point where athletes get to take a break from doing these media interviews or engaging with the public at times …and just give them a break,” he said. “Obviously, it's a part of sports to be engaging and for people to write stories on them. But I think that's the part that kills people mentally more than anything.”
Sherman also noted that the rise of social media has compounded mental health issues for football players, as well as people in general. “There's just so much more negativity out there than positivity,” he said.
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Read the latest cryptocurrency and bitcoin news from Yahoo Finance
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit || QuickSwap: A Severely Underestimated DEX: INTERNET CITY, DUBAI, United Arab Emirates, July 23, 2021 (GLOBE NEWSWIRE) -- Since QUICK listed on LBank on May 8, the price has soared up over 35-fold at the peak, attracting large amounts of active users. With the expansion of the Polygon ecosystem and user base at sight, QUICK is expected to perform well in the future. AMM DEX is inseparable for DeFi AMM DEX, as the infrastructure of public chains, has become the most important part of the DeFi ecosystem, as catch phrases like “roads come first before wealth" and "AMM DEX first before ecosystem" prevail. The fact is that the vigorous development of various DeFi ecosystems always coincides with the rapid growth of AMM DEX, be it Uniswap on Ethereum or PancakeSwap on BSC, with the growth covering TVL, transaction volume and active users. In the past two months, the fastest-growing trading ecosystem is undoubtedly Polygon, which has achieved exponential growth with the support from a strong team made up of Matic's original members and the endorsement of the Ethereum community. With Polygon blazing the trail, QuickSwap, the NO.1 player in Polygon, also embraces rapid growth in TVL and transaction volume. QuickSwap TVL and trading volume growth (the abnormality shown above is due to Mark Cuban calling for a pump-up) Growth in QuickSwap transaction volume and trading users The following data shows why QuickSwap is severely underestimated. Market cap here means the circulating market value with billions as the unit. Both TVL and trading volume are important indicators to evaluate the size and purchasing power of AMM DEX users. If the market cap goes down, and TVL and trading volume go up, it means the potential of a project is great with strong prospects of future growth. That is to say, the larger the value of TVL/MC (TVL to market cap ratio) and Vol/MC (volume to market cap ratio), as shown in the table, the more promising a project is. What we can also see is that QuickSwap’s TVL/MC and Vol/MC are much higher than those of others, meaning the future potential is predictably strong. Story continues What are the driving forces of QUICK token? QuickSwap, a project with great prospects, also found its market cap inseparably linked to the broader market. The bullish or bearish nature of the crypto market led by BTC, or the development of Polygon all constitute as important factors that can impact Quick. The 5.19 SLUMP caught almost all ecosystems off guard, with some particularly hard hits which resulted in market value evaporation. Polygon, as the "The Swiss Army Knife of Ethereum Scaling", managed to buck the trend and even secured further expansion for itself, winning widespread support from mainstream applications such as Opensea, Aave, Sushiswap, Curve and 1inch etc. Polygon SDK provides a fast-track framework for other multi-chain projects, further transforming Ethereum to a matured multi-chain system. Furthermore, Polygon does not stop at funds and user base, but strives to unlock imaginations for the future, and with QuickSwap as its infrastructure, the future holds predictably promising for both. In addition to basic DEX functions like smooth operation procedure and low gas fee, QuickSwap will incorporate new features like IDO, platform governance, etc. to enhance the experience. Meanwhile QUICK token will empower and reinforce these functions. Risks associated with policy making or a trust crisis in "traditional finance" are all proven to be fertile ground for AMM DEX growth. QuickSwap is expected to lead the pack in the next wave of DEX. NFT layout The meteoric rise to fame of NFT has seen the token price of Axie Infinity steadily climb, with Crypto Blades, a rising star, also embracing eye-catching performance, and the concept of Metaverse increasingly catching people's attention. Facing such a heated market, QuickSwap also gains its foothold without lagging behind. QuickSwap has released the limited edition of its certified NFTs and trading cards. QUICK, as the native utility token, can be used to purchase NFT works. More NFT functions and operation models will be announced in the future. By then, it is believed that NFT will have become the new engine of the QuickSwap platform. Since QUICK listed on LBank on May 8, the price has soared up over 35-fold at the peak, attracting large amounts of active users. With the expansion of the Polygon ecosystem and user base at sight, QUICK is expected to perform well in the future. About LBank LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 5.6 million users in more than 50 countries around the world. Media Contact Company: LBK Blockchain Ltd Co. Contact: ni.chen@lbank.info || Spain’s BBVA Opening Bitcoin Trading Service to Private Banking Clients in Switzerland: Spanish banking giant BBVA is making its cryptocurrency trading and custody service available to private banking clients in Switzerland on Monday.
• BBVA said Friday that after six months of testing the service with a selected group of users, it is now making trading available to BBVA Switzerland clients. The entity will not be offering advice on these types of investments, however.
• This includesbitcointrading and custody services with the aim of extending the services to other cryptocurrencies, the bank said.
• BBVA said the service will be available only to clients in Switzerland because of the country’s clear regulations and the widespread adoption of digital assets.
• Asreportedby CoinDesk in December, BBVA sees Switzerland as having relatively comprehensive rules around digital assets, set out by the country’s Financial Market Supervisory Authority (FINMA).
• Alfonso Gómez, CEO of BBVA Switzerland, said this is just a first step in a world that he believes will have a major impact on all financial services.
Read more:Spain’s Second-Largest Bank Will Soon Launch Crypto Services: Sources
• Crypto.com Expands Institutional Reach With Fireblocks Integration
• BIS Launches Innovation Hub With Nordic Central Banks Focusing on CBDCs
• Step Finance to Aggregate Solana’s Decentralized Exchanges Onto Dashboard
• Morgan Stanley Says Digital Euro Could Deplete Bank Deposits by 8%: Report || This Miami Beach Home Is the Most Expensive Ever To Be Bought With Cryptocurrency: Over the past month, cryptocurrencies such as Bitcoin, Ethereum, and Litecoin have significantly dropped in value. But you wouldn't know that based on the Miami-area real estate market. This week, a $22.5 million Miami Beach penthouse was just purchased using cryptocurrency—making it the most expensive property to ever be paid for using the digital currency. While this news might surprise most readers, the practice of using cryptocurrency to purchase real estate has actually been picking up steam for years. The Miami Beach penthouse is located in the city's Surfside neighborhood, an exclusive area that made history for an oceanfront condo that sold for $33 million in December 2020 (it's now among the most expensive condo sales in South Florida history). The 5,067-square-foot penthouse is located on the ninth floor of the 12-story building, and includes four bedrooms and four bathrooms. The buyer (who remains anonymous) will enjoy a 2,960-square-foot terrace with oceanfront views. The 12-story building is located in one of the most exclusive neighborhoods in the area. What's more, the building offers indoor and outdoor swimming pools, a rooftop tennis court, a gym, a yoga studio, a sauna, and a steam room. There's also a children's playroom, a catering kitchen, and temperature-controlled parking spaces. The main bedroom inside the 5,067-square-foot penthouse with views of the ocean. "Cryptocurrency is the future of wealth, and we believe this is only the beginning," said Giovanni Fasciano, codeveloper of the Miami building, in a statement. The $22.5 million penthouse comes with a host of amenities, including an indoor and outdoor swimming pool. But not everyone thinks cryptocurrency has lasting power in real estate, let alone as a medium of global exchange. Using his platform as a New York Times opinion columnist, Nobel laureate Paul Krugman has declared cryptocurrency to be a bubble that will eventually burst. Perhaps more cynical in his beliefs, BlackRock CEO Laurence D. Fink said in 2017 that Bitcoin is an index of money laundering. "Bitcoin just shows you how much demand for money laundering there is in the world," he declared. Originally Appeared on Architectural Digest || Why the Current Inflation Wave Could Fizzle Out: Fed Chair Jerome Powell yesterday admitted to Congress that inflation effects in the U.S. economy “have been larger than we expected, and they may turn out to be more persistent than we have expected.” The U.S. Consumer Price Index rose 5% year-over-year in May , the highest level in 13 years. Inflation excluding food and energy was at 3.8%, the highest level for that number in 30 years. That’s all worrying, and inflation has rightly been a focus of discussion as the pandemic ends and stimulus checks keep going out. Continued 5% inflation or higher would be, among other things, a vindication of the anti-Fed, hard-money thesis that fuels many Bitcoiners, and a real chance to test whether the digital currency is an anti-inflationary hedge. This article is excerpted from The Node , CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here . Related: Article 7 and Bitcoin’s Latin American Coup But Powell didn’t sound any major alarms on Tuesday, holding to the line that inflation effects in the economy were largely transitory, the product of post-pandemic reopening demand. Powell cited pandemic demand for airline tickets, for instance, as everyone gets vaccinated and decides to travel at the same time. He might also have cited the price of rental cars, or used vehicles, or graphics cards, or Uber rides, or housing-grade lumber. There are certainly other examples, but these may be the most representative of what you could roughly call supply-driven inflation. In short, rising overall prices in the U.S. have been substantially driven, not by a surplus of money above pre-pandemic levels, but in many cases by supplies of goods and services that are below pre-pandemic levels. Here’s a picture I took of a used car lot in Texas recently. Your mental model for inflation may be someone taking a wheelbarrow full of money to the grocery store to buy a loaf of bread, but maybe add this image, too – a near-empty used car lot in a nation full of people going absolutely insane with the desire to move. Story continues Related: DeFi Is the Next Frontier of High-Frequency Trading The complexity of the used-car story is representative of the broader supply-constraint story. Used car prices are surging because many car manufacturers cancelled their orders for crucial chips in early 2020, betting the pandemic meant car sales would crater long-term. They were incredibly wrong, but by the time they decided they needed more chips, fabricators had taken on other, more valuable clients. So now, the OEMs can’t make as many new cars , and people are turning to used vehicles en masse. The chips that displaced those automaker contracts probably sometimes included graphics cards, or GPUs, which have also surged in price for reasons unrelated to what we consider “inflation.” The skyrocketing price of Ethereum in particular during the pandemic juiced GPU demand from miners, leaving gamers absolutely forlorn. The prices of computer peripherals like GPUs are part of the CPI calculation (though CPI measures retail prices , not the huge markups for GPUs on eBay in recent months). The other stories are similar. Lumber prices went bananas in April and May because the people wanted new houses at rates well above pre-pandemic levels. Recent months have seen more new housing starts than at any time since roughly 2005 . Some of this demand is enabled by pandemic relief, of course. But even that doesn’t make it inflation as commonly understood. The key issue here, as Nobel-prize winning progressive economist Paul Krugman laid out yesterday , is the difference between transitory inflation and core inflation. And many of the current big inflation drivers have clear solutions that don’t involve constraining the money supply. Partly, we’re already seeing a dropoff in demand as those who needed their houses/plane tickets/new cars YESTERDAY get their needs met. Lumber is already cratering, down 5% today as I write this. Growth in used vehicle prices has slowed to about 0.6% per month so far in June, down from rollicking 4.65% month-over-month growt h in May. That’s extremely significant because used car prices made up a large portion of the May inflation numbers , and they look like they’ll be effectively gone for June CPI calculations. But other solutions will be on the supply side, as disrupted supply chains reconstitute themselves to meet demand. Carmakers will eventually get their chip suppliers back (especially if Ethereum keeps dumping), and those used-car lots will fill up again. Spread across sectors, that would mean the last few months weren’t about long-term inflation, but short-term recovery, as dollars chase scarce goods and motivate producers to make more goods . Inflation happens when a growing supply of money hits a fixed supply of products. It seems pretty clear that’s not what we’re dealing with here when it comes to manufactured goods. (The story is significantly different and more complicated when it comes to labor and wages, and I’ll point you to Joe Wiesenthal for a deeper dive on that side ). We’ll have a pretty definitive answer to these questions within the next couple of weeks; June inflation data will be trickling in until we get updated CPI in the second week of July. My bet is that as the economy smooths out its last few pandemic wrinkles, inflation will retreat, if not to near-zero prepandemic levels , at least to the 2% to 3% that the Fed, and most economists, consider manageable. Related Stories Bukele’s Bitcoin Blunder for El Salvador Why Bitcoin Could Be Good for El Salvador || Bitcoin Hashrate Stabilizes After China Crackdown: The Bitcoin hashrate has stabilized after falling for 10 straight days, and industry experts are speculating that the worst fallout from Chinas recent mining crackdown might be over. Bitcoins seven-day average hashrate stood at 90.6 EH/s on Tuesday, up slightly from 90.5 EH/s on Monday. The number is still down by roughly half from the peak rate reached in mid-May, according to data from Glassnode. The majority of the reduction stemmed from Chinas move to shut down cryptocurrency mining operations in the country, with a little bit from Iran, according to Sam Doctor, chief strategy officer at BitOoda, a digital asset financial services platform. Related: BlockFi Rate Cut on Bitcoin Deposits Leaves Rivals Scratching Heads We believe there isnt much active hashrate left in China, Doctor said in an email to CoinDesk. What is left is probably not mining openly, and may continue until either they get shut down or they can get equipment out of China and find an alternative place to move them. Meanwhile, the mean block time for bitcoin , which measures the length of time it takes to create a new block, has fallen back to 16 minutes, after it surged to 23 minutes on Sunday, the highest level since 2010, according to Glassnode. Though block time fluctuates naturally, the rise in block time could be a result of Chinese miners shutting down their current operations, according to several mining sites. As the hash power declines, it takes longer for miners to solve the puzzles and create a new block. Bitcoin, which is designed to have a target block time of 10 minutes, will see its difficulty level reduced when the block times are greater than expected. Related: Market Wrap: Bitcoin Outperforms Top Cryptocurrencies in June Several data providers estimate the mining difficulty could plunge by up to 25% at the next reset, likely on July 5, which would be the largest drop in bitcoins history. Related Stories China Crypto Crackdown: Calendar Offers Clue as to Why Now? Soros Fund Management Is Said to Be Trading Bitcoin: Report || ‘FOMO’ Traders Rotate From Bitcoin to Meme Stocks: Popular meme stocks are rallying again as cryptocurrencies stabilize after a volatile May. Analysts call it a “fear of missing out,” or FOMO, as traders rotate from one hot market to the next.
“We continue to see the rotation out of crypto and back into stocks favored by the Reddit crowd,” Lev Borodovsky, editor of theThe Daily Shotnewsletter, wrote in an email to CoinDesk. “I’ve noticed this connection a couple months ago.”
With bitcoin under pressure lately, meme stocks are catching a bid. Stocks such as AMC Entertainment (NYSE: AMC), BlackBerry (NYSE: BB), GameStop (NYSE: GME) and even Wendy’s (NASDAQ: WEN) have rallied strongly over the past month.
Related:Making Bitcoin Legal Tender in El Salvador an ‘Interesting Experiment,’ Central Banking Official Says
Borodovsky uses an equal-weight basket of seven popular meme stocks overlayed with the price ofbitcoin. His chart demonstrates the occasional rotation over the past few months.
“Meme stocks are rising beyond their reasonable valuations based solely on the retail enthusiasm of investors who are often in it more for the lulz than to make a buck,” wrote Mati Greenspan, founder ofQuantum Economics, in a newsletter published Wednesday.
More than 63% of all new trades executed by U.K. traders between May 23 and June 2 involved financial derivatives linked to shares of AMC, according toDavid Jones, market strategist at Capital.com, a European trading and investing platform.
“The volatility is really off the charts and chances are, a little like the cryptocurrency rout in May, when the price turns, then a lot of fingers will get burnt,” Jones wrote in an email to CoinDesk.
Related:Bitcoin Holds Short-Term Support, Faces Resistance at $40K
Bitcoin is up about 25% year to date, versus an almost 1,000% increase in GME and AMC during the same period.
The cryptocurrency’s return is still ahead of the S&P 500’s 14% return year to date. Bitcoin is trailing the Thomson Reuters Core Commodity CRB Index’s return of 26% over the same period.
• Bitcoin’s Steep Price Discount Seems Similar to March 2020 Bottom
• SEC Again Warns Investors Against Bitcoin Futures Funds || Swedish National Sentenced to 15 Years in Crypto Fraud Case: ASwedish manwho swindled more than 3,500 victims out of more than $16 million worth ofbitcoinand other payment platforms from 2011-2019 received a 15-year prison sentence for securities fraud, wire fraud and money laundering charges, according to the U.S. Department of Justice.
Roger Nils-Jonas Karlsson, 47, was also ordered to forfeit a Thai resort he purchased with the stolen funds and $16,263,820 in restitution, DoJ said ina releaseThursday.
From 2011 to 2019, when he was arrested in Thailand, Karlsson ran an investment fraud scheme using the name Eastern Metal Securities. Karlsson promised his victims “astronomical returns” on their investments, paid in bitcoin and other online payment methods tied to the price of gold. Instead, Karlsson kept the money and used it to fund a string of expensive properties and a racehorse.
Related:Korean Authorities Investigate 33 People for $1.48B in Illicit Crypto Transactions
Karlssonpleaded guiltyto the scheme in March.
Karlsson’s sentencing is one in arecent seriesof fraud charges brought by different U.S. agencies against individuals, as regulators attempt to clamp down on illegal activities in the crypto space.
The case against Karlsson was an international joint effort involving the Internal Revenue Service’s criminal investigations division, the FBI Legal Attache Office in Thailand, the IRS-CI Attache Office in Hong Kong and the Royal Thai Police Crime Suppression Division.
• Bitcoin Seized by Ohio DOJ Sold for More Than $19M: Report
• Fake Covid Certificates, Stolen Vaccines Sold on Dark Web for Bitcoin
• South Africa to Accelerate Crypto Regulation in Wake of Scams: Report || Coronavirus Boosts iGaming Prospects: 3 Stocks to Watch Out For: Following the unfolding of pandemic scenario in the past year, the casino industry has begun to recover. With the easing of government-mandated restrictions coupled with widespread deployment of vaccines, the casino industry is witnessing pent-up demand in gaming and entertainment offerings. Notably, stronger visitation from younger demographics coupled with increased spend per visit have been aiding the industry. Although, guest counts from destination travelers remain below pre-pandemic levels, higher rate of hotel reservations coupled with a pent-up demand for non-gaming amenities are indicating revival of growth. Meanwhile, casino operators continue to focus on a disciplined operational approach through streamlining of business, optimization of marketing initiatives as well as renegotiation of vendor and third-party agreements. Also, the companies have increased their focus on the levels of services and staffing to welcome gamers with enhanced safety and social-distancing protocols. High Hopes on iGaming Business Given that the pandemic had stopped customers from entering casinos in 2020, there has been a notable migration from offline to online gambling activities. It comes as no surprise that iGaming usage has spiked on the idea of providing a digital platform to gamble as well as to stay entertained and connected with friends. In this regard, casino operators are investing heavily in digital initiatives to improve reliability and customer services. Also, partnerships are being formed to handle the spurt in demand for online casino platforms. Given the evolving trends in digitalization, companies have started accepting blockchain and cryptocurrencies in return for their services. Markedly, the approach makes it an industry (first of its kind) to open doors for potential new form of payments. Owing to the actions and perseverance of the companies, it is worth mentioning that sports betting and iGaming have not only boosted April figures but have also moved the overall gaming revenues past pre-pandemic levels. Per the American Gaming Association, commercial gaming revenue in April 2021 increased more than 26% compared with 2019 levels. The upside was primarily driven by a surge in iGaming gross revenues, which contributed $299.9 million in April 2021, thereby surging 714% from 2019 levels. Nonetheless, the Zacks Gaming industry has outperformed the S&P 500 index in the past six months. Notably, the industry has rallied 20.2% in the past six months compared with the S&P 500’s 16.8% growth. Story continues Our Take Given the positive feedback for online platforms along with state-wide regulatory acceptance, we believe that the gaming industry will outperform in the upcoming periods as well. Notably, much of upside potential persists as companies are likely to tap on growth prospects on account of more live online casino game introductions. Investing in the gaming sector might sound profitable right now. It is worth noting that the Zacks Gaming industry is currently at the top 48% (with the rank of 119) of the 250 Zacks industries, which hints at further growth. 3 Solid Picks Here, we have highlighted three stocks that have not only performed better than the industry in the past six months but also boast solid prospects. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Investment Research Image Source: Zacks Investment Research Boyd Gaming Corporation BYD: Boyd Gaming is a multi-jurisdictional gaming company. The Zacks Rank #1 company owns and operates gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania. Given a high promotional capital-intensive and competitive landscape, we believe that partnership with FanDuel is likely to drive positive cash flows in the upcoming periods. This along with legalization of sports betting in additional states is likely to add to the positives. Apart from FanDuel, the company continues to focus on Stardust brand to expand its online gaming presence. Nonetheless, the Zacks Consensus Estimate for the company’s current-year earnings has been revised 53.3% upward in the past 60 days. The stock has returned 54.3% in the past six months. Century Casinos, Inc. CNTY: Century Casinos primarily engages in developing and operating gaming establishments as well as related lodging, restaurant and entertainment facilities. The Zacks Rank #2 (Buy) company operates in the United States, Canada and Poland. In terms of online gaming, the company is optimistic owing to partnerships with Circa Sports, William Hill, bet365, Rush Street and Tipico. Moreover, the potential licensing for online sports betting in Canada could provide significant upside as well. Going forward, the company expects to enter the online space with its own brand. The Zacks Consensus Estimate for its current-year earnings has been revised 346.2% upward in the past 60 days. On a year-over-year basis, its earnings estimates for 2021 indicate year-over-year growth of 119.9%. The stock has returned 149.6% in the past six months. MGM Resorts International MGM: MGM Resorts owns and operates casino resorts through wholly-owned subsidiaries. Ever since the launch of BetMGM (online gaming) in 2018, the company has done extremely well. With operations in 12 states, BetMGM continues to gain market share. During first-quarter 2021, BetMGM reported solid results on the back of market share gains in existing markets as well as new entries such as Iowa, Michigan and Virginia. As of February 2021, BetMGM’s market share stood at 22% in its active markets. It also displayed strengthening of position in New Jersey with market share gains of more than 30%. Meanwhile, BetMGM operations contributed $163 million to net revenues during first-quarter 2021. Markedly, the operation results are encouraging compared with total net revenues of $178 million in 2020. The Zacks Rank #3 (Hold) company is expected to report year-over-year earnings growth of 15.4% in 2021. The stock has returned 46.4% in the past six 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 >> 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 MGM Resorts International (MGM) : Free Stock Analysis Report Boyd Gaming Corporation (BYD) : Free Stock Analysis Report Century Casinos, Inc. (CNTY) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bitcoin Latinum Primed to Insure the future of Blockchain: PALO ALTO, CA / ACCESSWIRE / June 7, 2021 /Bitcoin Latinum, the next-generation insured Bitcoin fork capable of massive transaction volume, digital asset management, cyber security, and capacity is announcing a groundbreaking green initiative to achieve a carbon net-zero footprint, as a commitment to sustainable environmental practices and support of the Crypto Climate Accord. This will be achieved through a Consensus protocol system for settling transactions. Bitcoin Latinum is also announcing its hard-fork and public trading availability for Q3 2021.
Bitcoin Latinum is an enhanced Bitcoin fork. The Bitcoin Latinum algorithm and infrastructure break barriers and speed limits that have prevented some virtual currencies from achieving practical, real-time use. Bitcoin Latinum - to trade under LTNM - will be mining-free, with a fixed supply of 888,888,888 pre-mined tokens. Legacy tokens, including Bitcoin and Ethereum, rely on a proof-of-work system to confirm transactions generated through mining, which has proven to be detrimental to the environment given the massive electricity demands have increased the consumption of fossil fuels such as coal.
Announced to the world in November 2020, Bitcoin Latinum is aiming to hard-fork and become publicly available for trading in Q3 2021 on major exchanges across the globe, including the Americas, Europe, and Asia.
Bitcoin Latinum sold out its initial pre-sale with over nine figures committed from buyers across the globe in November 2020. In Q1 2021, Bitcoin Latinum launched an international giveaway of a new Tesla Roadster, to massive interest and submissions. The winner of the giveaway will be announced after the public listing of LTNM.
The Bitcoin Latinum tokens are a part of a blockchain ecosystem being adopted by numerous companies in media, gaming, storage, cloud, and telecommunications. Bitcoin Latinum tokens will be interchangeably used on each of these partner/supplier networks by consumers. In addition, Bitcoin Latinum adds security around inflight transactions and enhanced consensus node protection based on memory scanning technology.
Monsoon Blockchain Corporation, Asia's premier blockchain company, was selected by Bitcoin Latinum as its foundation partner (related post on Monsoon's official websitehttps://bit.ly/3vYi3ua). Monsoon is focused on innovative cloud solutions in the blockchain ecosystem. Dr. Donald Basile, Monsoon's CEO and founder, is the former CEO of Fusion IO, a company known for playing a major role in implementing the cloud systems at Apple and Facebook as well as partnerships with HP, IBM, and Dell.
Monsoon Blockchain Corporation (www.monsoonblockchaincorporation.com), leverages the latest blockchain technology to develop powerful business solutions that allow the successful digitization of and listing of assets across a variety of industries, including financial services, telecommunications, and media and entertainment. As well as building software for clients, Monsoon consults businesses on how blockchain can be utilized, and devises tokenization strategies on their behalf. Monsoon has worked with a number of enterprise IT giants and governments.
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any Bitcoin Latinum offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation or be relied upon as personalized investment advice. Bitcoin Latinum strongly recommends you consult a licensed or registered professional before making any investment decision.
Media Contact
Company: Bitcoin LatinumContact: Kai OkadaTelephone: +1 800-528-0985Email:kai.okada@bitcoinlatinum.comWebsite:https://bitcoinlatinum.com/Address: 2100 Geng Road, Palo Alto, California 94303, USA
SOURCE:Bitcoin Latinum
View source version on accesswire.com:https://www.accesswire.com/650669/Bitcoin-Latinum-Primed-to-Insure-the-future-of-Blockchain
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-12-11]
BTC Price: 16936.80, BTC RSI: 75.85
Gold Price: 1243.70, Gold RSI: 34.27
Oil Price: 57.99, Oil RSI: 58.76
[Random Sample of News (last 60 days)]
Job gains miss expectations, unemployment rate hits lowest since December 2000: The October jobs report is out and it’s a slight miss.
The U.S. economy added 261,000 jobs in October while the unemployment rate fell again to 4.1%, according to the latest figures from the Bureau of Labor Statistics.
This is the lowest unemployment rate since December 2000.
Wall Street was looking for a big bounce back for the labor market in Octoberafter the Hurricane-impacted figureswe saw in September. September’s numbers were also revised up to show gains of 18,000 after having been previously estimated to decline by 33,000.
Job gains in August were also revised higher, to 208,000 from 169,000, and average job gains are now at 162,000 over the last three months.
Economists were looking for job gains of 313,000 in October with the unemployment rate set to hold at 4.2%, according to estimates from Bloomberg.
Wage gains in October were disappointing, flat over the prior month and 2.4% over the prior year. Wage gains have picked up in recent years but still been running somewhat below what economists would expect given the low level of unemployment.
Average hourly earnings were expected to rise 0.2% over the prior month in October with earnings forecasted to rise 2.7% over the prior year. Wages rose 0.5% monthly and 2.9% annually in September, though last month’s annual wage gains were revised down slightly to 2.8% in Friday’s report.
Other numbers economists were looking at closely in the report were the underemployment rate, which captures those out of work as well as folks working part-time but who would like full-time work.
This rate fell to 7.9% in October, the lowest since December 2006, and President Donald Trump’s chief economic advisor Gary Cohn has said the administration is focused on getting this number down.
Economists have also been tracking the labor force participation rate, which has been in decline for over a decade but stabilized some in recent years. This rate fell in October to 62.7% after hitting a three-year high of 63.1% in September.
Big employment gains were expected for the sectors most directly impacted by Hurricanes Harvey and Irma, which include leisure & hospitality, construction, and mining.
Leisure & hospitality saw a notable rebound in October, gaining 106,000 jobs after losing 102,000 in September. Construction and mining, meanwhile, saw job trends about in-line with September.
Jed Kolko, chief economist at Indeed,said this weekthat backing out the impacts from these sectors would have yielded job gains of 68,000 in September while these sectors lost a combined 101,000 jobs during the month.
—
Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland
Read more from Myles here:
• It’s been 17 years since U.S. consumers felt this good about the economy
• TOM LEE: Bitcoin is an important asset for investors to own
• Wall Street can’t stop talking about Bitcoin
• Why a new Federal Reserve chair won’t rattle markets
• Warren Buffett likes the stock market because of the bond market
• America’s shortage of workers is about to get ‘much worse’ || Payments company Square tests bitcoin buying and selling: By Aparajita Saxena (Reuters) - Payments company Square Inc <SQ.N> said it has started allowing select customers to buy and sell bitcoins on its Cash app, as it looks to tap into a craze that has sent the cryptocurrency up nearly sevenfold this year. For the most part though, institutional investors have stayed away from bitcoin <BTC=BTSP>, the original and largest cryptocurrency in terms of market capitalization, despite outperforming all the world's traditional currencies. But Square, best known for its technology that allows merchants to process credit card transactions without a cash register or expensive system, says its customers have shown an appetite for the "alt-currency." "We're always listening to our customers and we've found that they are interested in using the Cash app to buy bitcoin," a company spokesperson said. "We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here," Square said. Traditional investors still view bitcoin as opaque and highly speculative with potential to collapse. The currency's legitimacy has often been called into question because of its association with Silk Road, an online black market for illegal drugs. China has already forced several bitcoin exchanges to close down, while Russia's central bank said it would ban cryptocurrency trading websites. JPMorgan Chase & Co <JPM.N> Chief Executive Jamie Dimon has called cryptocurrency a "fraud". None of that has deterred investors who continue to buy bitcoins, and that had attracted the attention of U.S. exchange operators. CME Group Inc <CME.O>, the world's largest derivatives exchange operator, said last month it will launch a futures contract for bitcoin later this year. Rival Cboe Global Markets Inc <CBOE.O> is awaiting regulatory approval for a bitcoin exchange traded fund they announced earlier this year. Story continues Major financial firms will soon start to offer bitcoin or similar products as an investment option, with a turning-point product about six months away, Mike Novogratz, CEO of Galaxy Investment Partners, a firm that bets on cryptocurrencies said earlier this week. Square did not say when it started rolling out the feature to customers or when it plans to make it available to all its customers. Square's shares were up 1.8 percent at $40.44, easing after hitting a record high of $41.80. Bitcoin was up about 8 percent at $7,150. (Reporting By Aparajita Saxena in Bengaluru; Editing by Savio D'Souza) || Bubble trouble? Bitcoin tops $11,000, but fades after sharp rally: By Jemima Kelly and Gertrude Chavez-Dreyfuss
LONDON/NEW YORK (Reuters) - Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion.
After soaring more than 1,000 percent since the start of the year, bitcoin rose as much as 15 percent on Wednesday, but by mid-afternoon in New York, the virtual currency was trading at $9,500, down 3.7 percent on the day on Luxembourg-based Bitstamp (BTC=BTSP), one of the largest and most liquid cryptocurrency exchanges.
"As many seasoned traders know all too well, anything that rockets higher, tends to fall down faster when the time comes, and the time will come," James Hughes, chief market analyst at FX broker AxiTrader, said.
Bitcoin topped $10,000 for the first time in early Asia trading, before surging above $11,000 less than 12 hours later to reach $11,395.
Bitcoin's rapid ascent has led to countless warnings that it has reached bubble territory. But the warnings have had little effect, with dozens of new crypto-hedge funds entering the market and retail investors piling in.
(To view a graphic on Bitcoin's blistering ascent, clickhttp://tmsnrt.rs/2AHKJPd)
London-based Blockchain.info, one of the biggest global bitcoin wallet-providers, told Reuters on Wednesday that it had added a record number of new users on Tuesday, with more than 100,000 customers signing up, taking the total number to more than 19 million.
The evidence suggests that few of the users are buying bitcoin to use it as a means of exchange, but are speculating to increase their capital.
"What's happening right now has nothing to do with bitcoin's functionality as a currency – this is pure mania that's taken hold," said Garrick Hileman, a research fellow at the University of Cambridge's Judge Business School.
Hileman, who last week gave a lecture to the Bank of England on the risks of bitcoin and other cryptocurrencies, also flagged the risk of the whole market collapsing entirely.
"There's always the possibility that some fundamental cryptographic flaw that we can't solve craters the whole space, or that regulators unite and decide this represents systemic risk and actually could trigger the next financial crisis," he said.
"EXIT RAMPS"
Created in 2008, bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds outside of a conventional centralized payment system.
It has far outstripped gains seen in any traditional asset classes or currencies this year. Its rise accelerated in recent months as exchanges such as the CME Group Inc (CME.O) and the Chicago Board Options Exchange announced plans to offer futures contracts for the cryptocurrency.
On Wednesday, a source with knowledge of the matter said Nasdaq Inc (NDAQ.O) plans to launch a futures contract based on bitcoin in 2018.
Sceptics say it is a classic speculative bubble with no relation to real financial market activity or the economy - most famously JPMorgan boss Jamie Dimon, who labeled it a "fraud".
But even Dimon and others who say bitcoin represents a bubble - now the consensus view among mainstream investors - do not deny its price rise could still have further to go.
"It’s got all the shapings of your tulip bubble chart (but) that tells you nothing about where that price line could go depending on the number of people who wish to own it," Standard Life's head of investment strategy, Andrew Milligan, said on Wednesday. "Who is to say it doesn’t reach $100,000?"
In some emerging markets, bitcoin had hit well over $10,000 previously.
In South Korean exchanges, too, bitcoin was already close to $11,000 or higher early this week. On Zimbabwe's local exchange golix.com bitcoin touched a new high of $18,500 on Wednesday before retreating to $18,000.
The fact that bitcoin now provides "exit ramps" from national currencies that were becoming easier to use, Hileman said, could exacerbate any future financial crisis. Coordinated regulatory action might therefore be necessary in order to stave off an "economic calamity", he said.
Despite its mushrooming value, however, Bank of England Deputy Governor Jon Cunliffe said on Wednesday bitcoin was not big enough to pose a risk to the global economy.
New York Federal Reserve President William Dudley said the Fed is in the early stages of considering "what it would mean" to offer digital currencies sometime in the future and whether it may be necessary as an alternative to cash.
Mike Novogratz, a former macro hedge fund manager at Fortress Investment Group, said in a Reuters Investment Summit this month that mainstream institutional investors were about six to eight months from adopting bitcoin.
(Additional reporting by Marius Zaharia in Hong Kong, Vidya Ranganathan in Singapore, Helen Reid and Dhara Ranasinghe in London, and MacDonald Dzirutwe in Harare; Editing by Alison Williams and Susan Thomas) || Bull Exhaustion? Bitcoin Price Halts Advance Ahead of $6,000: After failing to breach $6,000, bitcoin prices have again taken a downturn.
At press time, the bitcoin-U.S. dollar (BTC/USD) exchange rate is $5,850, but of greater interest to traders is what this means for the ongoing rally, which has pushed bitcoin up from an Oct. 25 low of $5,376.
Prices on the CoinDesk Bitcoin Price Index (BPI) have twice neared the $6,000 mark in the last 24 hours, yet both attempts have stalled.
The first attempt ran out of steam at $5,978 yesterday at 13:00 UTC, while a second fell apart at 01:00 UTC today.
As of writing, the BPI is down 0.90 percent at $5,834.
While the reasons for the exhaustion are unknown, it may simply be the case of the formation of a new psychological level, with traders unsure of whether higher prices above $6,000 will hold.
Whatever the reason, the price action analysis calls for vigilance.
The above chart shows:
• Bearish price-money flow index (MFI) divergence, indicating the rally ended with the Oct. 21 record highs above $6,100.
• Bearish 5-day moving average (MA) and 10-day MA crossover (i.e. 5-day MA cuts 10-day MA from above).
Exhaustion near $6,000 adds credence to the bearish price-MFI divergence and indicates potential for a drop below the 5-day MA of $5,786.
A break below $5,786 would validate the bearish 5-day MA and 10-day MA crossover and could open doors for a drop to head-and-shoulders neckline (red line) support of $5,440.
The rising trend line (blue dotted line) is also likely to offer support around $5,440 levels.
As per CoinMarketCap, total bitcoin trading volume dropped 28 percent on Thursday, and decreased by another 3 percent today.
This further suggests the rally from $5,376 lacked substance (weak volumes), thus the exhaustion near $6,000 is perhaps to be expected.
Looking ahead to today:
• The odds of a break below $5,786 and a drop to $5,440 levels are high.
• On the higher side, only a convincing move above $6,000 would open doors for new record highs above $6,200.
Tired runnerimage via Shutterstock
• Diverse Team, Diverse Portfolio: Amentum Raising $10 Million Crypto Fund
• 'A Real Bubble': Billionaire Warren Buffett Doubles Down on Bitcoin Doubt
• Low Volume Lift? Litecoin Prices Rise But Big Leaps Unlikely
• Highs on the Radar? Bitcoin Retakes $5,800 as Prices Edge Up || US STOCKS-S&P, Dow flat after explosion at New York commuter hub: * Bluebird Bio-Celgene CAR-T drug receives positive response
* Cryptocurrency related stocks bounce after bitcoin futures debut
* Xerox up after Icahn nominates four directors
* Indexes up: Dow 0.04 pct, S&P 0.04 pct, Nasdaq 0.28 pct (Updates to open)
By Sruthi Shankar and Rama Venkat Raman
Dec 11 (Reuters) - The S&P 500 and the Dow were flat in early morning trading on Monday after an explosion rocked New York's Port Authority, one of the city's busiest commuter hubs.
Police confirmed one suspect is in custody but were yet to identify the device used. Local news channel WABC cited police sources as saying a possible pipe bomb detonated in a passageway below ground at Port Authority.
"When you see one of these events in a major city, you get a little cautious tone. But it's never enough to really rout a stock market intraday," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.
At 9:37 a.m. ET (1437 GMT), the Dow Jones Industrial Average was down 8.85 points, or 0.04 percent, at 24,320.31, the S&P 500 was up 1.14 points, or 0.04 percent, at 2,652.64 and the Nasdaq Composite was up 18.81 points, or 0.28 percent, at 6,858.89.
Technology stocks led the gainers on the S&P 500, rising 0.41 percent, while financial stocks were the biggest losers. Energy stocks also rose on the back of rise in oil prices after the explosion.
Interest in the surge in bitcoin and opening of futures trading continued to fuel bets on crypotcurrency related stocks, many of which have risen exponentially in value in the past three months.
Shares of Marathon Patent, Riot Blockchain , Overstock.com and Xunei were up between 10 percent and 24 percent.
Bitcoin futures jumped more than 20 percent in the U.S. debut on Sunday, which backers hope will encourage wider use and give legitimacy to cryptocurrency.
Market expectations of an interest rate hike from the Federal Reserve later this week firmed up after a jobs report showed that the economy added 228,000 jobs in November.
However, a sluggish wage growth have raise doubts about the central bank's plan to raise interest rates thrice in 2018.
"We've got the Fed meeting where it's pretty much factored in that the Fed is going to be raising rates. The concern is what they are going to say about going forward," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
Bluebird Bio shares rose about 19.2 percent after its experimental gene-modifying immunotherapy drug co-developed with Celgene received positive responses in early stage study. Celgene was up 2.4 percent.
Advancing issues outnumbered decliners on the NYSE by 1,487 to 1,046. On the Nasdaq, 1,502 issues rose and 894 fell.
(Reporting by Sruthi Shankar and Rama Venkat Raman in Bengaluru; Editing by Arun Koyyur) || US Dollar Index (DX) Futures Technical Analysis – Bullish Over 93.855, Bearish Under 93.565: December U.S. Dollar Index futures posted a two-sided trade on Wednesday before closing slightly higher for the session. The index was driven lower early in the session by a surge in the Euro. The greenback trimmed its losses against a basket of currencies after data showed a surprise rise in retail sales last month as well as an uptick in underlying inflation, essentially securing a Fed rate hike in December. Daily December U.S. Dollar Index Daily Technical Analysis The main trend is down according to the daily swing charge. It turned down on Tuesday when sellers took out the previous main bottom at 94.115. It was reaffirmed on Wednesday when sellers drove the market through the next main bottom at 93.365. A trade through 93.035 will signal a resumption of the downtrend with the next targets a minor bottom at 92.91 and another main bottom at 92.635. The index is being controlled by a number of retracement levels. The series of levels under the market likely means the next sell-off is going to be a labored event. The main range is 92.635 to 95.07. Its retracement zone at 93.853 to 93.565 is currently being tested. The short-term range is 95.07 to 93.305. Its retracement zone at 94.188 to 94.396 is the primary upside target. Daily December U.S. Dollar Index (Close-Up) Daily Technical Forecast Based on the early price action on Thursday, the direction of the index is likely to be determined by trader reaction to the main 50% level at 93.853. A sustained move over 93.853 will indicate the presence of buyers. This could trigger a move into 94.188 to 94.396. Since the main trend is down, sellers are likely to come in on a test of this zone. They are going to try to form a secondary lower top. A sustained move under 93.853 will signal the presence of sellers. This could trigger a fast break into the Fib level at 93.565. This price is a possible trigger point for a break into a series of levels at 93.143, 92.933, 92.688 and 92.428. Basically, look for an upside bias to develop on a sustained move over 93.853 and for a downside bias to develop on a sustained move under 93.565. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Gold’s Long-Term Analogies Thursday Support and Resistance Levels – November 16, 2017 Oil Price Fundamental Daily Forecast – Likely Rangebound Until Nov. 30 OPEC Meeting US Dollar Index (DX) Futures Technical Analysis – Bullish Over 93.855, Bearish Under 93.565 Bitcoin and Ethereum Price Forecast – Bitcoin Breaks free of Bitcoin Cash Gold Treads Water in Spite of the Equity Market Selloff || The Zacks Analyst Blog Highlights: First Trust Nasdaq Semiconductor, PowerShares Dynamic Semiconductors, VanEck Vectors Semiconductor and iShares PHLX Semiconductor: For Immediate Release
Chicago, IL – November 1, 2017 – 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 includeFirst Trust Nasdaq Semiconductor ETFFTXL,PowerShares Dynamic Semiconductors FundPSI,VanEck Vectors Semiconductor ETFSMH andiShares PHLX Semiconductor ETFSOXX.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Tuesday’s Analyst Blog:
Best ETFs from October’s Top Performing Sector
The technology sector has been leading this month buoyed by soaring FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet — and encouraging fundamentals like improved overseas demand, Trump’s tax reform plan and a rising interest rate scenario.
Notably, the semiconductor industry has been outperforming the broad sector buoyed by innovative technologies. New areas such as autonomous cars, cloud computing, gaming, wearables, VR headsets, drones, virtual reality devices, Internet of Things (IoT) and artificial intelligence are fueling exceptional growth in the industry, offsetting struggling traditional businesses like PCs and smartphones.
Further, the industry is benefiting from an astronomical surge in cryptocurrencies such as Bitcoin and Ethereum that has pushed semiconductor stocks to record highs. This is because mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) has been designed exclusively for mining bitcoin (read: ETFs Riding High On Bitcoin Surge).
Moreover, the deluge of strong earnings reports from the major players such as Micron, Texas Instruments, Intel and Advanced Micro Devices added to the strength.
Given this, investors might want to tap the space with the top-performing semiconductor ETFs and stocks of this month. For them, we have highlighted four funds and stocks that are poised to perform well in the final two months of the year.
Best ETFs
First Trust Nasdaq Semiconductor ETF
This fund offers exposure to the most-liquid U.S. semiconductor securities based on volatility, value and growth by tracking the Nasdaq US Smart Semiconductor Index. It holds 30 stocks in its basket with each holding less than 9% share. FTXL has accumulated $24.5 million in AUM and trades in average volume of around 8,000 shares. Expense ratio comes in at 0.60%. FTXL is up 8.9% in October and has a Zacks ETF Rank #2 (Buy).
PowerShares Dynamic Semiconductors Fund
This fund tracks the Dynamic Semiconductor Intellidex Index, holding 30 securities in its basket with none accounting for more than 5.6% share. The product has AUM of $357.3 million and sees a moderate average daily volume of 80,000 shares. It charges 63 bps in annual fees and has surged 8.1% this month. The product has a Zacks ETF Rank #1 (Strong Buy) (read: 5 Biggest ETF Winners of Trump Trade Resurgence).
VanEck Vectors Semiconductor ETF
This fund provides exposure to 26 securities by tracking the MVIS US Listed Semiconductor 25 Index. It is highly concentrated on the top two firms — Taiwan Semiconductor (TSM) and Intel — with a combined 19.4% of assets. The product has managed assets worth $1.1 billion and charges 36 bps in annual fees and expenses. It is heavily traded with a volume of around 3.1 million shares per day and has gained 7.8% this month. The fund has a Zacks ETF Rank #1.
iShares PHLX Semiconductor ETF
This ETF follows the PHLX SOX Semiconductor Sector Index and offers exposure to 30 firms with each holding less than 9% of assets. The fund has amassed $1.4 billion in its asset base and trades in solid average volume of around 478,000 shares a day. It charges 48 bps in fees a year from investors and has gained 8.1% this month. It has a Zacks ETF Rank #1 (read: Semiconductor ETFs Touch New Highs Ahead of Q3 Earnings).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportISHARS-PHLX SEM (SOXX): ETF Research ReportsPWRSH-DYN SEMI (PSI): ETF Research ReportsVANECK-SEMICON (SMH): ETF Research ReportsFT-NDQ SEMICON (FTXL): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin is gaining ground after futures trading gets approval from US regulators: bitcoin price Markets Insider This price of bitcoin is rising after the US Commodity Futures Trading Commission approved bitcoin futures trading on three US exchanges. "Bitcoin, a virtual currency, is a commodity unlike any the commission has dealt with in the past," said CFTC chairman J. Christopher Giancarlo in a statement. CME, Cboe and Nasdaq have all announced interest in offering bitcoin futures, and CME said that its futures would launch on December 18. Both CME and Cboe have said that their futures contracts would settle in cash. The approval from the CFTC came just days after the price of bitcoin crossed the historic $10,000 per coin mark . The coin hit its all-time high of $11,413.01 on Wednesday, according to data from Markets Insider. The price of bitcoin is notoriously volatile, and futures contracts could help dampen the volatility in the markets. Bitcoin has risen 932% this year. Read more about bitcoin's crossing of $10,000 here. NOW WATCH: One type of ETF is taking over the market See Also: Airplanes have a secret engine hidden in the tail 26 things under $20 we use every day We just got a glimpse of how bitcoin futures will work SEE ALSO: Bitcoin has been on a wild ride since crossing $10,000 View comments || Bitcoin cash dethroned Ethereum as 2nd-largest cryptocurrency during wild night of trading: MI
• Bitcoin cash reached an all-time high of $2,500 a coin early Sunday morning, surpassing Ethereum as the second-largest cryptocurrencyon the market.
• The coin was trading up 14.7% at $1,525 by 11:35 a.m. ET.
Bitcoin cash had a wild night.
The cryptocurrency skyrocketed to an all-time high of $2,500 a coin early Sunday morning. It also surpassed Ethereum as the second-largest cryptocurrency by market cap, according toCoinMarketCap.com.
Bitcoin cash, which notably split from the original bitcoin in August, was gaining on its sister coin up until about 2 a.m. ET on Sunday. It later shed about $1,000, and by 11:35 a.m. ET it was only trading up 14.7% at $1,525, slipping back below Ethereum's market cap.
Still, it was an impressive march for a coin that has spent most of its existence trading at $300 to $500. Ethereum's founder, Vitalik Buterin, even chimed in on the news in a tweet late Saturday night to congratulate the coin's main backers.
Tweet Embed:https://twitter.com/mims/statuses/929558722170429440?ref_src=twsrc%5EtfwCongrats on this. Seriously.@rogerkver@JihanWu@deadalnixpic.twitter.com/UXYdEcRn4y
Bitcoin cash's rise appears to have come at the expense of bitcoin, which dropped to a low of $5,512 a coin overnight but was back up at $6,160 by noon.
Bitcoin hit a record high of $7,828 on Wednesday but has been sliding since developers behind an update known as SegWit2X revoked their support for the plan.
SegWit2X would have increased the size of the blocks underpinning the bitcoin blockchain network to enable it to process more transactions more quickly. Backers thought the plan would help the digital currency scale faster.
Cryptocurrency experts told Business Insider that backers of SegWit2X were most likely dumping their bitcoin and jumping on the bitcoin-cash bandwagon. Like SegWit2X, bitcoin cash was conceived to help bitcoin scale faster by increasing the size of its blocks.
"When you look at the trends, it does look like many SegWit2X supporters have switched to bitcoin cash," Abhishek Pitti, the CEO of Nucleus Vision, told Business Insider.
Kyle Samani, a managing partner of MultiCoin Capital,told cryptowatcher Laura Shinthat numerous bitcoin whales, or wealthy bitcoin traders, were moving to bitcoin cash from bitcoin.
Here's Samani (emphasis ours):
"There were lots of bitcoin cash whales who were in early on bitcoin who were waiting to see what would happen with 2x.I know many Bitcoin OGs who have dumped $10m+ of BTC for BCH ... Turns out there were a lot more BCH ideologues than we all thought."
Samson Mow, the chief strategy officer at Blockstream who is a bitcoin evangelist, told Business Insider bitcoin cash's price pump would be short-lived.
Bitcoin cash "is just being pumped as many other altcoins have been in the past, and inevitably the pumpers will cash out," he said. "The pump is already losing steam and can't be sustained because there's no real market for [bitcoin cash]."
NOW WATCH:How the iPhone X could make Apple a $1 trillion company
See Also:
• GOLDMAN SACHS: Bitcoin could get close to $8,000
• Bitcoin's 'bubble' is unlike anything we've seen recently
• Bitcoin hits all-time high ahead of another potential fork
SEE ALSO:A small band of trading specialists are taking calls about $50 million bitcoin deals || Bitcoin is a huge scam, Wolf of Wall Street says: Jordan Belfort, Way of the Wolf author and the original Wolf of Wall Street, is speaking out on Bitcoin, warning investors of the speculation surrounding the cryptocurrency. According to Belfort it isnt Bitcoin itself that is the issue, but the fever pitch surrounding the cryptocurrencys trading, telling the FOX Business Networks Stuart Varney, People all over the world who know nothing about what theyre buying, theyre just operating with the greater fool theory, meaning if theres someone more foolish than me, youll buy it a higher price than its a great price where it is. Theres no value, its just pure speculation. Belfort compared the trading of Bitcoin to the mortgage market before the financial crisis. It reminds me exactly of 2005, 2006 in the mortgage market when youre getting your haircut and your haircutter says oh, I also sell mortgages now..., its like everybody and their grandma became involved in real estate and mortgages, thats whats happening with Bitcoin. Belfort sees a potential Bitcoin bubble ahead, saying on Varney & Co., Its not at the top yet, so it could go higher for all I know, but in the end after enough people have bought and you cant support the bubble its going to crash so hard and fast. Though Belfort raised concerns about the trading of Bitcoin, he said he isnt opposed to the idea of a cryptocurrency. My point is not that the fundamental idea of a cryptocurrency is bad. I think its a good idea, but whats run amuck right now is people using it as, its turned to speculation and people are going to get destroyed. Related Articles State, local deductions could still stymie tax reforms and almost derailed the budget Facebook ads: Social media giant announces new transparency House speaker wants new deal for Pawtucket Red Sox stadium
[Random Sample of Social Media Buzz (last 60 days)]
"El bitcóin debe prohibirse", sugiere premio Nobel de Economía https://www.grandesmedios.com/nobel-sugiere-prohibir-bitcoin/ … vía @GrandesMedios || Tiffany Haddishちゃんが || こんばんは。 bitcoin priceという || If $btc crashed 10 folds then the whole market will crash.
Which project can survive that? imo it's among $eth $iota $dash $nem
And probably $xrp.
I don't like Ripple as it's fishy and can be a black horse for banks and institutions. || Latin America’s wealthy families are buying up bitcoin https://bloom.bg/2kEg6TP pic.twitter.com/Ukhg3qk8TL || Bitcoin in a Bottle – The Investment Wines https://goo.gl/QZPQGX #wine @winewankers @TweetaDean @JMiquelWine @SteveKubota @RandallGrahmpic.twitter.com/7wY9JHFHuj || こんばんは。 bitcoin priceという || Tiffany Haddishちゃんが || bitcoin priceってゆうか、 || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $6,352.43 #bitcoin #btc
|
Trend: down || Prices: 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-08-27]
BTC Price: 6884.64, BTC RSI: 54.66
Gold Price: 1209.00, Gold RSI: 50.61
Oil Price: 68.87, Oil RSI: 54.58
[Random Sample of News (last 60 days)]
Lyn Ulbricht and the Effort to Free Ross: Looking at "the End of the Road”: Lyn Ulbricht and the Effort to Free Ross: Looking at "the End of the Road” The darknet site founded by Ross Ulbricht, Silk Road, has been offline for years now. But the legal questions behind his conviction and subsequent sentencing to life in prison without the possibility of parole in 2015, remain fresh, raw and real to Ulbricht’s advocates. Among the people most passionate in their belief that Ulbricht has been given an unfair shake by the American justice system is his mother, Lyn Ulbricht. Her staunch support of her son should come as no surprise, and it’s a stance that has seen her make her case — that Ross was unjustly convicted and sentenced — to audiences of CNN, the Wall Street Journal and international media of every stripe. Lyn now has an unfortunate impetus for making a fresh round of appearances, in the recent denial by the U.S. Supreme Court to reconsider Ross Ulbricht’s conviction or life sentence. As a guest this week on The Tatiana Show! podcast , Lyn provided listeners not only with an update on the dwindling legal options available to the Ulbrichts but also with an intimate view of the personal costs that afflict the family members of those who have been incarcerated. Almost Out of Options There are many who are unsure of where they stand on Ross Ulbricht, whose online creation employed both Tor (a.k.a. The Onion Routing, an anonymous communication platform) and bitcoin to enable an anonymous global marketplace of items both illicit (drugs were a preponderance of the offerings) and legal (art, cigarettes, jewelry). His supporters see a man whose guilt was never actually proven and whose work actually served to take on the War on Drugs’ overreaches while standing up for personal privacy online. His detractors believe he became a bitcoin multimillionaire while committing a rash of crimes including money laundering, computer hacking, conspiracy to traffic narcotics and attempting to order the murders of six people. They also see Silk Road as a major contributor to a negative public image for cryptocurrency, a high-profile example of bitcoin as an engine of criminal activity. Story continues For those on the FreeRoss side of things, Ulbricht’s interview with show host Tatiana Moroz did not reveal a hopeful darkhorse plan to counter the Supreme Court’s June 28 decision, which effectively declined to consider arguments that Ulbricht’s fourth and sixth amendment rights had been violated. “You can’t go any further with it,” Lyn said of the possibility of filing another petition on those points. “That’s it. That’s the end of the road. According to our lawyers, who seem to know these things, there’s no other option.” Barring the emergence of new legal strategies, the primary hope that the Ulbrichts are clinging to is a granting of clemency by the President of the United States. “We’ve moved from the judicial to the political,” Lyn said. “His options for direct appeal to the courts has ended. There is something called a 2255 (motion for retrial) that you can do within the year. That rarely works, but we’ll try. We’re not counting on it. What we really are focusing on is clemency from the President, and that means commuting Ross’ barbaric sentence.” A petition supporting clemency has 38,000+ signatures as of press time. Family Matters In her conversation with Moroz, Lyn Ulbricht helped listeners to go beyond legal jargon with another dimension of the case. Her window on the effect of prison on nonviolent offenders, and the families attached to them, reveals the emotional impact of America’s punitive action penchant. “There are so many people in the prison system now that it’s bigger than 11 states! It’s really metastasizing. It’s a crisis,” Ulbricht relates. “What really gets to me is the children [who are visiting their relatives in prison]. The kids are so happy to see their dad, they’re crawling over him and in his lap, and they have to be torn away. Every time we leave, there are sobbing, heartbroken children, who are being harmed and have a better statistical chance of being in the prison themselves.” This article originally appeared on Bitcoin Magazine . || Bitcoin Cash, Litecoin and Ripple Daily Analysis 19/08/18: Bitcoin Cash Sells Off Bitcoin Cash slid by 8.5% on Saturday, partially reversing Fridays 16.77% gain, to end the day at $553.9. A start of a day intraday high $610, which fell short of the first major resistance level at $633.2, was the only bullish move of the day, with Bitcoin Cash sliding through the first major support level at $543.3 to a late afternoon intraday low $533.9, before recovering to $550 levels. At the time of writing, Bitcoin Cash was down 1.63% to $544.8, with momentum from Saturdays sell-off continuing into the early hours, Bitcoin Cash falling from a start of a day $544.2 high to a morning low $539.7 before recovering to $540 levels. For the day ahead a move through to $565 would support a run at the first major resistance level at $597.57 to bring $600 levels back into play, with Bitcoin Cash needing to hold on to $540 levels through the morning to support an afternoon recovery. Failure to move through to $560 levels could see Bitcoin Cash take a bigger hit later in the day, with any fall through to sub-$540 levels likely to bring the first major support level at $521.47 into play. The larger than expected sell-off on Saturday was further evidence of investor sensitivity to volatility, with the downward moves through the early morning on Saturday picking up speed, investors fearful of being caught up in a more material sell-off, leaving Bitcoin Cash in the hands of the crypto bears. {alt} Get Into Bitcoin Cash Trading Today Litecoin Back in the $50s Litecoin fell by 7.25% on Saturday, reversing most of Fridays 11.25% gain, to end the day at $57.34. Tracking the broader market trend, Litecoin slid from an early morning intraday high $62.6 to a late afternoon intraday low $55.66, the moves through the day seeing Litecoin fall through the first major support level at $57.29, before recovering to $57 levels. The only good news from the day was Litecoins move back through the days first major support level by the days end, the sell-off reaffirming the extended bearish trend and continuing the trend of sharp pullbacks off the back of strong rallies. Story continues At the time of writing, Litecoin was up 0.37% to $57.6, the early moves seeing Litecoin bounce back from a start of a day morning low $56.51, with the days major support and resistance levels left untested, Litecoins early gains bucking the broader market trend. For the day ahead, a move through to $58.5 would support a run at $60 levels to bring the first major resistance level at $61.41 into play, though we can expect Litecoin to face plenty of resistance on the approach to $60 should broader market sentiment fail to improve through the day. Failure to move through to $58 levels could see Litecoin pullback through the morning low $56.51 to bring the days first major support level at $54.47 into play, with any reversal dependent on whether the broader market can recover from further losses in the early hours of this morning. While holding on to $57 levels through the morning will be key, Litecoin will unlikely be able to buck the trend through the entire day. {alt} Buy & Sell Cryptocurrency Instantly Ripple Holds on to $0.30 Ripples XRP slid by 11.2% on Saturday, partially reversing Fridays 25.23% rally, to end the day at $0.32734. Pulling back from a start of a day intraday high $0.37267, Ripples XRP fell to a late afternoon intraday low $0.3125, calling on support at the first major support level at $0.3129 before recovering to $0.32 levels, Ripples XRP managing to avoid a continued sell-off through to the days end. At the time of writing, Ripples XRP was down 1.37% to $0.32131, with Ripples XRP pulling back from a start of a day $0.32794 high to a morning low $0.31781, before recovering to $0.32 levels. For the day ahead, a move through to $0.33 levels and $0.3375 would support a run at $0.35 levels to bring the first major resistance level at $0.3625 into play, though for Ripples XRP to be eyeing $0.36 levels, sentiment across the broader market will need to materially improve and a move through to $0.33 levels would need to happen through the morning. Failure to move through to $0.33 levels could see Ripples XRP take a bigger hit later in the day, with any pullback through the mornings $0.31781 low bringing sub-$0.31 levels and the days first major support level at $0.3023 into play, though we would expect Ripples XRP to avoid sub-$0.31 levels following Saturdays reversal. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Ripple vs. Stellar: Will There Be Only One Winner? Natural Gas Weekly Price Forecast natural gas hangs top for the week S&P 500 Weekly Price Forecast stock markets continue to show resiliency Renewed Trade Talks, Easing of Contagion Fears Soften Dollars Bullish Performance FBS Family Gathering in Cairo: Traders Party Highlights With Earnings Season Ending, Focus Will Shift to Geopolitical Events, Policy Changes || Why Clean Energy Fuels Corp's Shares Plunged 18% Today: Shares of natural gas fuel companyClean Energy Fuels Corp(NASDAQ: CLNE)fell as much as 17.8% in trading Thursday, ending the day down 15.5% as an analyst gave a negative review of the stock. But keep in mind that shares are still up 54.2% year to date, so this has been a winner of late for investors.
Today's move was driven by Raymond James analyst Pavel Molchanov, who cut his rating from market perform to underperform. Excitement about the equity investmentTotalmade in the company earlier this year was cited as a reason shares have surged, but Molchanov thinks shares have gone up too high too fast.
Image source: Getty Images.
Shares of Clean Energy Fuels have been very volatile this year, but they've been rising on news like the Total investmentand rising oil prices. On the flip side, the company has actually been shrinking, and losses have been growing over the past year, so fundamentals haven't caught up to investor bullishness at the moment.
CLNE Revenue (TTM)data byYCharts.
Intangible news items are really what's driving Clean Energy Fuels stock lately, and it's hard to tell if the company is coming or going on any given day. What investors will want to watch over the next year is how Total's funding and higher oil prices impact demand.
If they lead to more natural gas being used and higher prices at the pump, the company could be well-positioned to reduce losses and eventually make a profit. But if demand doesn't pick up while conditions are good, the company may not ever live up to expectations. This debate will keep investors on their toes as the year plays out.
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Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Clean Energy Fuels. The Motley Fool has adisclosure policy. || E-mini Dow Jones Industrial Average (YM) Futures Analysis – Straddling RT Zone; Bullish Over 24341, Bearish Under 23790: Blue chip stocks closed lower last week for the third straight week. Concerns over a trade war between the U.S. and its key trading partners, China and the European Union, weighed on prices.
September E-mini Dow Jones Industrial Averagefutures settled at 24265, down 334 or -1.36%. At the end of the second quarter, the Dow was down 514.00 or -2.07%.
The main trend is actually up according to the weekly swing. In late January/early February, the Dow broke sharply over a two-week period, but never took out a swing bottom because of the strength and duration of the previous rally leading up to the top.
Since the bottom at 23178, we’ve seen a lot of noise and several minor swings, leading to a mostly sideways to higher trade. A move through this bottom will indicate the selling pressure is getting stronger, but at this time, the trend won’t change to down according to the swing chart unless the September 15, 2017 bottom at 22009 is taken out.
The minor trend is down, however. After trending higher for several weeks, the minor trend changed to down last week on the trade through 24263. This also shifted momentum to the downside.
The main range is 22009 to 26672. Its 50% to 61.8% retracement zone at 24341 to 23790 respectively is controlling the longer-term direction of the Dow. Closing below the 50% level on Friday gives the market a slight downside bias at the start of the new week.
Based on last week’s price action and the close at 24265, the direction of the September E-mini Dow Jones Industrial Average futures contract this week is likely to be determined by trader reaction to the 50% level at 24341.
A sustained move under 24341 will indicate the presence of sellers. If this move generates enough downside momentum then look for the selling to extend into the Fibonacci level at 23790.
Taking out 23790 could lead to a test of a pair of uptrending Gann angles at 23353 and 22681. The latter is the last major uptrending support angle before the 22009 main bottom.
Overcoming and sustaining a move over 24341 will signal the presence of buyers. This could lead to a rally into an uptrending Gann angle at 24697. Overcoming this angle will indicate the buying is getting stronger. This could then fuel a rally into the downtrending Gann angle at 25200. This is the angle that stopped the rally last week at 25418.
Overcoming the angle at 25418 could trigger an acceleration to the upside.
Thisarticlewas originally posted on FX Empire
• EUR/USD Weekly Price Forecast – Euro all over the place for the week
• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 30/06/18
• E-mini S&P 500 Index (ES) Futures Technical Analysis – Bearish Under 2713.75, Bullish Over 2755.25
• Bitcoin – A Shift in Sentiment or a Reversal to Come
• AUD/USD Forex Technical Analysis – Rebounded from 18-Month Low Last Week, But Still Bearish
• The Week Ahead – Stats, Tariffs and Monetary Policy to Drive the Markets || Dead Cat Bounce? Bitcoin Charts Show This Rally Could Be Different: Bitcoin is building on Friday's sharp recovery from lows below $5,800, indicating the corrective rally has more substance than what many presumed to be another " dead cat bounce ." Overall, the premier cryptocurrency jumped to $6,661.76 at 13:00 UTC, a 6.37 percent increase from the day's low of $6,262.28, and was last seen trading at $6,613, according to the CoinDesk Bitcoin Price Index (BPI). The broader market followed suit, as it usually does when bitcoin (BTC) flexes its muscles. Currently, the total value of all cryptocurrencies stands at $270 billion, having jumped $14 billion in the in the morning hours, according to CoinMarketCap. For Litecoin's Price, This Week's Close Could Be Pivotal Looking ahead, the broader market may remain solidly bid as the world's largest cryptocurrency by market capitalization looks set to test the $7,000 mark, courtesy of a bullish continuation price pattern, as seen in the charts below. Hourly chart Having faced rejection at flag resistance in Asian hours, the cryptocurrency was expected to revisit flag support. However, BTC unexpectedly picked up a bid at $6,275, setting stage for a big move on the higher side. The subsequent bull flag breakout, as seen in the chart above, signaled a resumption of the rally from Friday's low below $5,800, temporarily silencing the "dead cat" critics. Price action now sets scope to $7,065 (target as per the measured height method, i.e. pole height added to breakout price). Self-Proclaimed Satoshi Says Bitcoin Book in the Works What's more, the bullish breakout is accompanied by a rise in volume. So, the gains look sustainable. Daily Chart BTC cleared the falling wedge resistance on Friday, signaling a short-term bear-to-bull trend change. Further, a bullish follow-through to Sunday's inside bar, as seen today, only validates Friday's falling wedge breakout and indicates better times ahead for BTC. View: The high volume bull flag breakout seen in the hourly chart has likely put bitcoin on the path to $7,000, proving Friday's rally to be the beginning of something more substantial than initially thought. Acceptance below $6,275 (weekly low) would abort the short-term bullish view. Story continues Bitcoin price image via Shutterstock Related Stories Back Above $6K: Bitcoin's Bull Reversal Is a Work in Progress Crypto Startups Don't Need Sandboxes, They Need Greenhouses || Google Searches for ‘Bitcoin Price’ Sink to Three-Year Low: Fewer people are looking up the term “Bitcoin Price” on Google than at any point for more than a year. Data from Google Trends reveals that the search term is approaching historically low levels of popularity not seen since 2015.
Google Trends describes itself as a public web facility that gives users insight into the frequency of specific search-terms relative to the total volume of searches carried out by internet users around the world. Using its service, it is possible to get an idea of the level of interest in bitcoin trading by using search frequency as a proxy.
The available data shows that from 2013 up until early 2017, search frequency for the term was mostly flat, with a few minor spikes from time to time. This all changed from May 2017 as bitcoin embarked on its record breaking bull run, at one point touching $20,000 at the end of the year.
The peak period for ‘bitcoin price’ searches was the period between December 2017 and January 2018 when bitcoin achieved its record price, attracting frenzied investor attention in the process. The period between December 24 and December 30, 2017 recorded the highest number of searches for the term.
Just two months later in February 2018, the frequency of the search term halved as bitcoin shrank to less than half of its peak price. The search frequency then continued on a steady downward trend, interrupted only briefly by a short-lived uptick between June 10 and June 16, tracking a short-lived bitcoin price rally.
Presently, the worldwide ‘bitcoin price’ search frequency stands at 7 out of 100 – its lowest point since July 2017 – and falling. Barring a sudden bitcoin price bull run, it would seem as though the search frequency is destined to hit 2015 levels which peaked at 2 out of 100.
Such a market rally does not look to be on the cards at the moment, as bitcoinremainsstuck stubbornly around $6,500, with the wider crypto market also not showing any signs of sustained upward movement.
Interestingly, Google Trends data also shows that the search frequency of ‘Hodl’ – a typo turned internet meme-cum-investment terminology – is also dropping noticeably.
Used to denote resistance to selling in the face of losses while hoping for a bull run, ‘Hodl’ also achieved its peak search frequency in late December 2017.
Since February 2018 however, it has fallen drastically, eventually overtaken in July by ‘Rekt’, another unofficial crypto market terminology that signifies huge trading losses.
More information on bitcoin investment search queries by Google Trends can be foundhere.
Featured image from Shutterstock.
The postGoogle Searches for ‘Bitcoin Price’ Sink to Three-Year Lowappeared first onCCN. || Upside Calling? Bearish Bets on Bitcoin Futures Hit Record Low: The bearish sentiment in the bitcoin (BTC) futures market hit a record low last week, indicating that the worst of the leading cryptocurrency's price plunge is in the past. The non-commercial futures contracts of bitcoin, traded by large speculators and hedge funds, totaled a net position of -1266 contracts in the week ended Aug. 21 â the lowest on record, according to the data released by the Commodity Futures Trading Commission (CFTC) on Friday. The futures data indicates that the speculators are the least bearish on BTC since the futures were first listed back in December. With Nearly $200 Million on the Line, EOS Is Building A Voting System A negative total represents net short positions (bearish bets) and a positive tally indicates net long positions (bullish bets). The sharp drop in the bearish sentiment, as represented by the steady decline in the net short positions from the high of -1945 seen ten weeks ago to -1266, adds credence to the signs of bearish exhaustion indicated by BTC's defense of $6,000 since mid-June. At press time, BTC is changing hands at $6,715 on Bitfinex. Weekly chart Crypto Isn't Just Money - It's a Defense Against Discrimination As seen in the above chart, BTC printed lows below $6,000 three times in the last ten weeks, but the drop was short-lived, that is, all three weekly candles closed (Sunday's close as per UTC) above the psychological mark. So, it seems safe to say that for BTC, the path of least resistance is on the higher side. The short-term technical charts are also echoing similar sentiments. Daily chart The upward sloping 5-day and 10-day moving averages (MAs) indicate a short-term bullish setup. Further, the 50-day MA is about the cross the 100-day MA in a bull-friendly manner. 4-hour chart The ascending trendline and the rising 50-candle MA and 100-candle MA favor a move higher toward $7,000. That said, BTC's inability to cross the psychological hurdle of $6,800 over the weekend is a slight cause for concern. However, only a break below the channel support, currently seen at $6,600, would abort the short-term bullish view. Story continues View The bearish net positions in the bitcoin futures markets hit a record low last week, validating the argument put forward by the technical charts that the cryptocurrency has likely bottomed out around $6,000. A break above $6,800 (psychological resistance) would bolster the already bullish technical setup and would open the doors to $7,000. A move below the ascending trendline seen in the 4-hour chart would weaken the bullish case and could yield a drop to $6,230 (Aug. 20 low). Disclosure:  The author holds no cryptocurrency assets at the time of writing. Bitcoin  image via Shutterstock; Charts by Trading View Related Stories The Weirdest Prediction Markets on Augur Right Now Bitcoin Price Could End Day With Tightest Trading Range of 2018 || This Dividend Aristocrat Is Starting to Look Like a Good Value: It's been a long time coming, but Dividend Aristocrat Illinois Tool Works ' (NYSE: ITW) stock is starting to look attractive from a valuation perspective. Alongside the stock of multi-industry peer 3M Company , Illinois Tool Works' stock has fallen this year amid fears of a cyclical slowdown in some of its segments and pressure on its margin from rising raw material costs. However, according to the company's guidance, the industrial equipment producer is set for a strong year, and the dip looks like it could provide a good entry point for long-term investors. A man looking out of a skyscraper office window. The long wait for Illinois Tool Works' stock to move into value range may be coming to an end. Image source: Getty Images. Why the valuation looks attractive As you can see in the chart below, the mid-teens decline in the stock price means that its valuations -- especially the enterprise value (market cap plus net debt)-to-earnings before interest, tax, depreciation and amortization (EBITDA) ratio -- are moving into attractive territory. ITW EV to EBITDA (Forward) Chart ITW EV to EBITDA (Forward) data by YCharts . Moreover, Illinois Tool Works has been on a multiyear drive to improve operating margin through its enterprise strategy, a series of "self-help" initiatives that include focusing on selling its most profitable products, new sourcing initiatives, and applying the so-called "80/20 front to back process," wherein the company focuses on the top 20% of its customers because they tend to provide 80% of its business. As a consequence, operating margin and free cash flow (FCF) have improved and management expects to convert more than 100% of its net income to FCF in the 2018-2022 period . Based on the company's EPS guidance for 2018, my calculations put Illinois Tool Works on a forward price-to-FCF ratio of around 17.9 -- and as you can see below, that's a historically attractive figure. ITW Price to Free Cash Flow (TTM) Chart ITW Price to Free Cash Flow (TTM) data by YCharts . So the stock looks like a good value. But why has it sold off this year? Story continues Why the market is selling off Illinois Tool Works It seems odd to talk about the declining stock price of a company that actually raised its full-year EPS guidance range (from $7.45-$7.65 to $7.60-$7.80) in its first-quarter earnings presentation. On the other hand, there were a few areas of concern: First-quarter organic revenue growth came in at 3%, but the company's forecast for full-year 2018 is for 3%-4% growth -- something to look out for in future quarters. Like 3M Company , Illinois Tool Works has faced margin pressure from rising raw material costs for items such as steel. There are weakening trends in some key end markets, such as automotive and food equipment, and concerns that the construction market could slow. Illinois Tool Works' margin The margin pressure from rising costs is obviously a concern, but there are two factors to consider. First, as noted in the first-quarter earnings release, "While price/cost impact was dilutive to margin percentage, on a dollar basis pricing actions more than offset the impact of raw material cost inflation." In other words, the negative contribution from price/cost (see chart below) could easily turn positive if exchange rates move in Illinois Tool Works' favor. Second, the enterprise strategy initiatives have driven margin expansion in recent years, as shown in the chart below. At the electrical products group conference in May, the company's vice chairman, Chris O'Herlihy, claimed there was more runway to come: Management continues to expect 100 basis points of margin expansion from these initiatives in 2018 (100 bp equals 1%). Illinois Tool Works margin expansion components. Data source: Illinois Tool Works presentations. Chart by author. End markets weakening The following chart of organic revenue growth by segment demonstrates some of the key trends to look out for in 2018. On a positive side, welding and the test and measurement and electronics segment are seeing a cyclical upswing, driven by the recovery in U.S. industrial production . However, the key concerns relate to slowing global automotive production, a weak U.S. food equipment market, slow automotive aftermarket (seen in the polymers and fluids segment), and the possibility that the construction market has passed its peak. Illinois Tool Works organic revenue growth by segment. Data source: Illinois Tool Works presentations. Chart by author. The company has demonstrated an ability to grow automotive original equipment market (OEM) sales more than the market, but worldwide auto builds declined 1% in the first quarter and the segment's organic growth was a disappointing 1%. Meanwhile, a weak automotive aftermarket in the U.S. led to flat organic growth in polymers and fluids. (3M Company also cited weak aftermarket sales to explain its disappointing first-quarter earnings.) Turning to food equipment, Dover reported a horrible 7% organic revenue decline in its refrigeration and food equipment sales in its first quarter, and Middleby 's organic sales also decreased 7% in its first quarter. What it means for investors There's little doubt that the company faces headwinds in some of its segments in 2018, but ultimately the question boils down to whether they are going to be near-term problems or lasting ones. If they are temporary -- and history suggests employment gains usually support consumer spending on cars, dining out, and housing -- then the dip is a good buying opportunity in a dividend investor favorite. Moreover, the company's self-help initiatives should deliver margin expansion again this year. Just be aware that the near-term headwinds may well cause a reduction in earnings expectations for 2018. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Lee Samaha has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Middleby. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy . || How Risky Are These Data Storage Stocks?: Historically, the performance of data storage companies has been closely tied to the growth of PC shipments (or lack thereof). Seagate Technology (NASDAQ: STX) and Western Digital (NASDAQ: WDC) have a near duopoly in the hard disk drive (HDD) market, which has been steadily declining in recent years as fewer PCs are being shipped annually and new storage technology emerges. These companies are making up for lower PC demand with increased demand from enterprise customers, as cloud providers are accumulating more and more data and buying more HDDs. Data around the world is growing about 35% annually, according to market intelligence firm IDC. This far outpaces the growth in storage shipped, which only equals about 5% of data created. But there are other issues Seagate and Western Digital have to deal with, such as declining prices stemming from a very competitive market and declining hard disk shipments. These issues make it very difficult to predict where these companies will stand over the long term. A laptop computer with storage drives lying on top of the keyboard. Image source: Getty Images. The state of the storage market In recent years, lower shipments of PCs have translated to lower shipments of HDDs. The big growth opportunity for data storage companies is in solid state drives (SSDs), which are much faster and consume less power than HDDs. Global shipments of HDDs reached their peak in 2010 at 651 million and declined to 404 million in 2017, according to information gathered by Statista. Meanwhile, global shipments of SSDs are growing rapidly and are expected to overtake HDD shipments by 2021, as you can see in this table. Metric *2021 *2020 *2019 *2018 2017 2016 2015 HDD shipments 330 350 360 370 404 424.07 468.73 SSD shipments 360 320 280 235 190 140 105 Amounts in millions. Data gathered by Statista . *Estimates. Still, while shipments of HDDs are declining, Seagate and Western are seeing the total capacity shipped increase as data centers are attracted to the higher capacities and cost effectiveness of going with HDDs. Basically, data storage companies are seeing a decline in consumer demand but growing demand from enterprise for HDDs. As a result, IDC estimates that the HDD market will remain flat at $24 billion over the next few years. Story continues But eventually, the advantages that SSDs offer, such as lower power consumption and faster data retrieval, will help them win out over the clunky, slower HDDs. The SSD market is expected to grow about 15% per year through 2025, according to Grand View Research. Western Digital is much better positioned in the SSD market than main rival Seagate. In 2016, Western acquired SanDisk, the maker of NAND flash memory (the storage technology used in SSDs) that's No. 3 in market share at 15%. Western derived 52% of its revenue from HDDs in the third quarter, whereas Seagate generates over 90% of its annual revenue from HDDs. This leaves less than 10% of Seagate's revenue coming from SSDs, which exposes Seagate more than its rival to a declining HDD market. Seagate management has been content to focus primarily on serving enterprise customers in the HDD market. This is fine for now, since there is healthy HDD demand from data centers. But data centers are also gradually ramping up their buying of SSDs, since they are more efficient. As SSD technology develops and prices come down, there is a lot of uncertainty longer term as to whether Seagate will be adequately positioned if SSD adoption accelerates. Pricing uncertainty presents challenges Western Digital is clearly better positioned for SSD adoption than Seagate, but it won't be clear sailing for Western. SSD growth is a double-edged sword, since advances in flash storage technology will undoubtedly cause selling prices to rapidly decline. Lower selling prices present the biggest risk for these storage drive makers. Some of this pricing pressure stems from deep-pocketed rivals -- like Intel and Samsung, just to name two -- vying for position in the storage market. To give an idea of what investors can expect, let's look at history to see how changes in pricing have impacted Seagate's revenue. Between 2010 and 2013, Seagate's annual revenue whipsawed as the industry experienced volatile shifts in supply and demand for disk drives. In 2010, Seagate's revenue spiked 16% from an industrywide supply shortage. A year later, as companies caught up with demand, there was an oversupply, causing Seagate's revenue to decrease 4%. Flooding that damaged factories in Thailand in 2012 caused a severe shortage and a spike in selling prices, which sent Seagate's revenue soaring 36%. Over the last five years, Seagate has seen its revenue gradually dwindle, as this table shows. Metric TTM Through March 2018 2017 2016 2015 2014 2013 Revenue $10,775 $10,771 $11,160 $13,739 $13,724 $14,351 Earnings per share $4.55 $4.12 $2.26 $4.57 $5.04 $5.31 Gross margin 29% 29.5% 23.4% 27.8% 28% 27.5% Amounts in millions except per-share data. Data source: Seagate SEC filings. Years are fiscal years ending in June. EPS data is non- GAAP . TTM = trailing 12 months. Since 2013, Seagate has blamed price erosion from declining PC sales for its decline in revenue. This has hit Seagate harder than Western Digital, since Western has been more active in making acquisitions to diversify. Here's how Western Digital has fared over the last five years: Metric TTM Through March 2018 2017 2016 2015 2014 2013 Revenue $20,372 $19,093 $12,994 $14,572 $15,130 $15,351 Earnings per share $14.08 $9.19 $5.79 $7.76 $8.10 $8.51 Gross margin 36.9% 31.8% 26.4% 28.9% 28.9% 28.4% Amounts in millions except per-share data. Data source: Western Digital SEC filings. Years are fiscal years ending in June. EPS data is non- GAAP . TTM = trailing 12 months. As the table shows, Western Digital has actually managed to increase gross margin even while dealing with the same headwinds on pricing as Seagate. One way Western has been able to control costs is by acquiring component suppliers, giving it more control over more points of the supply chain. There could be more consolidation in the industry as companies seek to offset declining prices by looking for synergies with other companies to reduce costs. Storage stocks are risky The growth of data presents a big opportunity for Seagate and Western Digital, but Seagate is simply too dependent on the declining HDD market for me to have confidence it can capitalize on SSD adoption. Western's improving profitability from an effective cost-reducing strategy and diversification makes it the far less risky stock. But I would still tread carefully in the storage industry. There are too many unknowns with respect to competition and its potential impact on pricing trends, making it difficult to predict what these companies' earnings streams will look like over the long term. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Ballard 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 . || Crypto Market Decline Aggravates as Ripple and Ethereum Hit Yearly Lows: The market is down $25 billion from yesterday’s high of $219 billion, sliding to $193 at the time of writing. Altcoins have been hit hard with Ethereum down almost 18% overnight according to coinmarketcap.com and hitting lows not seen since August 2017, now trading at $264. Ripple is also at a yearly low, down 14.33% to trade at $0.26, a value not seen since last December. XRP is down 92% from its all-time high of $3.37 making it one of the hardest hit altcoins in the top ten by market cap. Bitcoin Cash and EOS are also down 16% percent today, and Cardano has taken a 20% hit making it the biggest loser in the top 10 over the last 24 hours. The biggest losses in the top 100 were seen by Ark, ICON, and Wanchain with losses of 30.5%, 29.05%, and 27.97% respectively. A currency ranked no. 886 named Inflation Coin is ironically down 92% from yesterday, and a handful of relatively obscure currencies are also trading higher than yesterday. Bitcoin is also at its lowest since October 2017, almost testing the $6,000 mark at $6,040 although it is one of the least affected currencies over the last 24 hours, down over 6.5% from yesterday. The only currency to take a smaller hit was Cryptonex at no. 66 on coinmarketcap along with 2 stablecoins, Tether and TrueUSD. CCN recently reported on the increase in Bitcoin market dominance throughout the recent decline which has enabled the dip in Bitcoin to have a major impact on many altcoins in the market. Dominance is currently at 54% compared to 35% in May. In fact the staggering price drop Ripple has undergone comes despite a number of high-profile figures and news stories involving the project emerging recently, such as a partnership with Madonna , a conference featuring Bill Clinton as the keynote speaker, and a potential Coinbase listing. Bitcoin’s dominance and the overall market trends currently seem to detach the price action from progressive developments being made in the space, something which may change over time with more investors entering the space. Story continues Yesterday, CCN reported on bearish trends in the market which stated that Bitcoin would test around the 6050 mark before sinking further to 6012 if broken, which may be where Bitcoin is currently headed. Featured image from Shutterstock. The post Crypto Market Decline Aggravates as Ripple and Ethereum Hit Yearly Lows appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
@btc_current || @lifeoncoin || @Bitcoin_Post || @India_Bitcoin || @lifeoncoin || @whats_a_bitcoin || @btc_0 || @India_Bitcoin || @satoshi_BTC || @lifeoncoin
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Trend: down || Prices: 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
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 || Banks Considering Digital Safeguards Against Fraud In $4T Trade Financing Market: Banks around the globe don't have a uniform system of communication, which has allowed the prevalence of fraud in the financial world. Especially in the trade financing market, fraudulent paper invoices have caused millions of dollars in losses for companies and banks. According to Bloomberg , Standard Chartered PLC lost $193 million at China's Qingdao port two years ago, a Singaporean businessman allegedly used the same invoices for metal stockpiles multiple times with different banks for hundreds of millions, and fake invoices in 2008 cost JPMorgan Chase & Co. (NYSE: JPM ) almost $700 million. Banks are considering adopting a distributed-ledger technology similar to the software that backs bitcoin. A blockchain electronic ledger invoice service could potentially cut billions of dollars in costs for banks. It would also do away with paper invoices – the major source of fraud in the trade finance business. The main hurdle is: Are banks going to be willing to disclose their confidential transactions in order to form this system? Related Link: Can Bitcoin Resolve Central Bank Woes? HSBC Holdings plc (ADR) (NYSE: HSBC ) and Bank of America Corp (NYSE: BAC ) in separate emails mentioned that they are involved in the pursuit of blockchain projects, according to Bloomberg. The changing digital landscape of the finance industry is forcing banks to collaborate with each other. But in order for a common invoicing platform to be adopted across the board, common standards have to be agreed upon. Owen Jelf, managing director of Accenture's capital markets practice, said, "Think of it like putting seven people who speak seven different languages in one room and try to settle a problem, in this case how to settle a trade finance transfer." Infocomm Development Authority of Singapore, who is working closely with Standard Chartered and DBS, said, "Trade financing is borderless and banks that do adopt this technology will be able to benefit regardless of the country of origin." See more from Benzinga 8 Biggest Mid-Day Winners Bank Of America Initiates Coverage On Red Rock Resorts With A Buy Rating U.S. Lifts Arms Ban On Vietnam As Tensions Over The South China Sea Fester © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Australian says he created bitcoin, but some sceptical: * Unmasking Nakamoto would solve bitcoin mystery
* Some sceptical that Wright is Nakamoto
* Wright's blog mentions development of his "small contribution" (Updates with quotes from bitcoin experts)
By Byron Kaye and Jemima Kelly
SYDNEY/LONDON, May 2 (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now.
Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later.
Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators.
Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly.
Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future.
But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops.
"I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said.
Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011.
But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is "convinced beyond a reasonable doubt" that the Australian is Nakamoto.
Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresen's, supported Wright's claims.
"According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name," Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly.
LEGACY
Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies.
The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator.
Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million.
In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception.
"This incredible community's passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote.
However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning."
Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing.
The currency's "miners" are incentivised to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created.
Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being.
"Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin."
Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalisation was $13 billion compared with today's $7 billion.
Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price.
HOME RAIDED
In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment.
The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes.
On Monday, the ATO said it had no comment while police were not immediately available for comment.
If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency.
That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings.
(Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || Banks, tech companies move on from bitcoin to blockchain: By Gertrude Chavez-Dreyfuss
NEW YORK, May 2 (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on.
That's because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions.
"If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries."
Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions.
The blockchain technology works by creating permanent, public "ledgers" of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger.
Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other.
"Bitcoin is still the only blockchain-enabled, cross-border large scale, provable application that's actually in production," said Joseph Guastella, a principal at Deloitte Consulting in New York. "Bitcoin as a currency may not be as relevant as it was in many ways, but it actually is relevant as a proof case for the blockchain technology."
Bitcoins are created through a "mining" process, in which specialized computers solve complex math problems in exchange for bitcoins. One bitcoin is equivalent to $444.75 late on Monday and trade on various exchanges around the world.
But bitcoin transaction volume has been in decline over the past six months amid a bitter split over technical changes in the protocol that are needed to increase the capacity of the system that produces them. Because the cryptocurrency has no formal governance, it relies on a core group of developers for direction - and they are sharply divided over the changes.
But that debate was of relatively little concern to the Blockchain enthusiasts gathered in New York.
Australian tech entrepreneur Craig Wright identified himself on Monday as the creator of controversial digital currency bitcoin.
"It's irrelevant because his announcement doesn't solve a problem or resolve a conflict," said Bharat Solanki, managing director at Cambrian Consulting in New York.
"It probably helps to determine the origins of bitcoin but only for recognition," Solanki said.
For Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd in San Francisco, he does not really care about who created bitcoin.
"It's all about the blockchain," he said.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Weber, Bernard Orr) || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter) || Banks, tech companies move on from bitcoin to blockchain: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on. That's because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions. "If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries." Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions. The blockchain technology works by creating permanent, public "ledgers" of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger. Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other. "Bitcoin is still the only blockchain-enabled, cross-border large scale, provable application that's actually in production," said Joseph Guastella, a principal at Deloitte Consulting in New York. "Bitcoin as a currency may not be as relevant as it was in many ways, but it actually is relevant as a proof case for the blockchain technology." Bitcoins are created through a "mining" process, in which specialized computers solve complex math problems in exchange for bitcoins. One bitcoin is equivalent to $444.75 late on Monday and trade on various exchanges around the world. But bitcoin transaction volume has been in decline over the past six months amid a bitter split over technical changes in the protocol that are needed to increase the capacity of the system that produces them. Because the cryptocurrency has no formal governance, it relies on a core group of developers for direction - and they are sharply divided over the changes. But that debate was of relatively little concern to the Blockchain enthusiasts gathered in New York. Australian tech entrepreneur Craig Wright identified himself on Monday as the creator of controversial digital currency bitcoin. "It's irrelevant because his announcement doesn't solve a problem or resolve a conflict," said Bharat Solanki, managing director at Cambrian Consulting in New York. Story continues "It probably helps to determine the origins of bitcoin but only for recognition," Solanki said. For Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd in San Francisco, he does not really care about who created bitcoin. "It's all about the blockchain," he said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Weber, Bernard Orr) View comments || The euro crossed 1.1500 for the first time since August — here's what's happening in FX: Screen Shot 2016 05 02 at 8.10.49 AM (Investing.com) Good morning! The US Treasury Department put China, Japan, Germany, Taiwan, and South Korea on a currency " Monitoring List ," last Friday. "China, Japan, Germany, and Korea are identified as a result of a material current account surplus combined with a significant bilateral trade surplus with the United States. Taiwan is identified as a result of its material current account surplus and its persistent, one-sided intervention in foreign exchange markets," the Treasury wrote in its semi-annual FX report to Congress. And it "will closely monitor and assess the economic trends and foreign exchange policies of these economies." Specifically, the Treasury noted that it's concerned about the rising imbalances with a number of its major trading partners, and how that could impact the global economy. As for the rest of the world, here's the scoreboard as of 8:10 a.m. ET: The euro briefly crossed 1.1500 for the first time since August before paring its gains. Currently, the single currency is stronger by 0.2% at 1.1482. The euro found has seen a small bid after eurozone PMI came in at 51.7, above expectations of 51.5. Readings from both France and Germany disappointed while Italy's beat. The Japanese yen hit its strongest level in 18-months, after surging by approximately 5% at the end of last week when the Bank of Japan unexpectedly did not boost stimulus. The yen strengthened by about 0.3% to 106.14 per dollar earlier in the day, but is now around 106.59 per dollar. The Australian dollar is stronger by 0.5% at .7638 ahead of the Reserve Bank of Australia's Tuesday meeting. "RBA now has a dilemma. Economic growth doesn't argue for a rate cut next week. But the breadth of the price weakness in the Q1 CPI and signs that inflation expectations are shifting down suggest the period that inflation will undershoot the 2%-3% target could be more persistent than temporary," noted a Citi Research team led by Paul Brennan. "These considerations provide justification for a 25bp easing next week." The dollar index is weaker by 0.2% at 92.88. Notably, Puerto Rican Gov. Alejandro Garcia Padilla said the island's Government Development Bank would not make a $422 million payment due on Monday. Monday's default will put pressure on Congress to find a resolution for Puerto Rico, which owes "another $1.9 billion of debt on July 1, including about $777 million in general obligation debt backed by its constitution," according to Reuters. And, for what it's worth, Bitcoin is down 1.4% to 440.52 versus the dollar after Australian IT executive Craig Steven Wright claimed that he is the creator of the virtual currency. Story continues NOW WATCH: Japan has built a massive ice wall around Fukushima More From Business Insider The ruble is having its best year ever — here's what's happening in FX The Australian dollar is cratering — Here's what's happening in FX The dollar is getting slammed after a bunch of disappointing data || Bitcoin has a governance problem, no matter who created it: * 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. Story continues 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) || 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 technology can 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. Story continues 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," but widespread 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 || CME Group to publish daily bitcoin settlement price: CHICAGO, May 2 (Reuters) - CME Group Inc plans to begin publishing a daily settlement price for bitcoin and real-time price data as the futures market operator moves into the world of the digital currency. Starting in the fourth quarter, the new settlement price will be published in U.S. dollars at 4 p.m. London time on each trading day, CME said on Monday. It will be based on trades at bitcoin spot exchanges, including the Coinbase U.S. market. Real-time prices will be published about once a second and calculated by Crypto Facilities, a London-based trading platform for digital assets, the companies said. Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But while some champion it as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in. Last year, the New York Stock Exchange, owned by the ICE, started the first daily, exchange-calculated bitcoin index. Also on Monday, the BBC reported that an Australian tech entrepreneur said he had created the digital currency. (Reporting by Tom Polansek; Editing by Lisa Von Ahn)
[Random Sample of Social Media Buzz (last 60 days)]
Get Bitcoin Fast Return on Investment 12000% in 24 hours,buy bitcoins uk . http://ow.ly/4n8NYX || 1 #BTC (#Bitcoin) quotes:
$417.94/$419.19 #Bitstamp
$415.93/$416.25 #BTCe
⇢$-3.26/$-1.69
$419.99/$420.00 #Coinbase
⇢$0.80/$2.06 || LIVE: Profit = $802.41 (10.09 %). BUY B19.24 @ $420.00 (#VirCurex). SELL @ $455.56 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price: 290.56£ $BTCGBP $btc #bitcoin 2016-03-31 18:00:04 BST || LIVE: Profit = $861.45 (10.76 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $457.79 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion http://cur.lv/xyxtj #bitcoin #blockchain || #CannaCoin #CCN $ 0.006371 (-0.72 %) 0.00001420 BTC (-0.00 %) || One Bitcoin now worth $449.00@bitstamp. High $456.71. Low $446.50. Market Cap $6.957 Billion #bitcoin || LIVE: Profit = $136.09 (7.77 %). BUY B4.53 @ $410.00 (#VirCurex). SELL @ $416.80 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Bitstamp: $443.32/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 468.07, low: 435.00) #bitcoin #BTC http://bitcoinautotrade.com
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Trend: up || Prices: 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54, 576.60, 581.65
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-05-24]
BTC Price: 2443.64, BTC RSI: 85.80
Gold Price: 1252.40, Gold RSI: 53.19
Oil Price: 51.36, Oil RSI: 63.51
[Random Sample of News (last 60 days)]
Bigger than bitcoin? Enterprise Ethereum Alliance grows in size: Corporate support for the Enterprise Ethereum Alliance (EEA) is growing after 86 firms including State Street, Toyota, Merck, ING, Broadridge and Rabobank joined the collective that is seeking to use blockchain technology to run smart contracts at Fortune 500 companies. Ethereum is an open-source, public, blockchain that anyone can use as a decentralized ledger. It has its own cryptocurrency called ether on the front-end, which is similar to Bitcoin, but the underlying Ethereum network is what is attracting companies' interest. While the original Bitcoin (Exchange: BTC=-USS) blockchain has tended to be used for consumer payment transactions, the adoption of Ethereum blockchain technology by the corporate world means it could eventually be bigger than its early stage rival. Ethereum technology is specifically intended to support smart contract applications that can automate complex physical and financial supply chain procedures and compliance processes involving multiple parties. It has numerous potential internal end uses such as reconciliation. A smart contract on the Ethereum network is merely a way for people to make agreements and automate enforcement, all on a distributed network of computers. The contract is essentially an operating procedure that aids efficient management. John Hancock Financial, for example, is experimenting with a tailored version of Ethereum to keep track of compliance with know your customer (KYC) and anti-money laundering (AML) regulations in its wealth management unit. Meanwhile, European aircraft maker Airbus is testing to see if its supply chain management can be shifted to a blockchain that relies on Ethereum. JPMorgan Chase, Microsoft, CME Group, BNY Mellon and other large multinationals are already EEA members, having joined when it was established in February 2017. In a statement, Julio Faura, chairman of the EEA and head of blockchain innovation at Banco Santander, said, "the enthusiasm around EEA is remarkable". Story continues He added: "Our new members come from varying industries such as pharma, mobile, banking, automotive, management consulting, and hardware." Rival networks The EEA is not alone in seeking to create standards for blockchain systems. Rivals include the R3 consortium, Digital Asset Holdings and the Hyperledger Project. The latter is being used by the SWIFT global payment and securities messaging network for the third stage of its global payments innovation (gpi) project which seeks to make international payments as fast and easy to track as logistics deliveries. It is in the early stages of a distributed ledger technology (DLT), aka blockchain, proof of concept (PoC) that is not expected to come to fruition for many years yet. In the meantime, Ripple has its own rival protocol for correspondent banks using Interledger that it hopes to attract volume to before SWIFT's PoC gains traction. Challenges As with any new technology a number of caveats apply to blockchain technology, principally that it is yet to be proven by anything other than small scale or pilot applications to date. Regulators will also need convincing that the networks are safe. Convincing competitors to work together in a network that shares market information may also prove difficult. For instance, Goldman Sachs and Morgan Stanley left the R3 consortium last year to pursue their own blockchain projects and alternative collaborations, potentially harming its prospects of producing useful real-world applications of the still experimental blockchain technology. If a chain or end use application offers a massive competitive advantage then certain groups may seek to hive off their own separate 'chains' to which they will control access, which is another destabilizing factor. Permissioned vs. permissionless chains Arguments are raging over the degree to which public or closed access should be allowed on different blockchains, which are commonly referred to as permissionless or permissioned 'chains'. Most corporates and banks favor permissioned chains as they can apply minimum security, compliance and other standards, while technology evangelists and fintech disruptors tend to favor the more open permissionless model as they believe the full network benefits of the technology accrue this way. In the same way that the internet and specifically the later world wide web works so well because everyone has access to it and protocols such as the SSL security layer are shared the tech evangelists argue that the blockchain should be maintained as a public project for the benefit of all. Only time will tell who wins the debate. But the net itself has already gone through numerous iterations and the public vs. private discussion is a constant theme in that field, as much as it is in the blockchain arena. Follow CNBC International on Twitter and Facebook . More From CNBC Top News and Analysis Latest News Video Personal Finance || SEC denies a second application to list bitcoin product: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency. The SEC announced in a filing its decision denying Intercontinental Exchange Inc's NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset's price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss. "The Commission believes that the significant markets for bitcoin are unregulated," the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc's Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade. "We are reviewing the SEC's order and evaluating our next steps," said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment. Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. But after denial of the Winklevoss-proposed ETF, the digital currency's price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day. Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. (Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman) || Cybersecurity stocks jump after major 'WannaCry' attack: Cybersecurity stocks surged on Monday following a Friday cyberattack which hit at least 150 countries and affected computers in factories and hospitals. Palo Alto Networks (NYSE: PANW) closed down more than 2 percent, while Symantec (NASDAQ: SYMC) closed about 3 percent lower. FireEye (NASDAQ: FEYE) closed up more than 7 percent. The PureFunds ISE Cyber Security ETF (HACK) (NYSE Arca: HACK) gained more than 3 percent by Monday's close. Experts fear the WannaCry malware may worsen into this week as people log back on to their computers Monday. Even if the malware attack is contained, cybersecurity stocks may perform well in the coming week and month as companies beef up their defense systems against another hack. CNBC analyzed the last 15 major cyberattacks using analytics tool Kensho. A week following the hacks, shares of Barracuda Networks (NYSE: CUDA) , F5 Networks (NASDAQ: FFIV) , and Fortinet (NASDAQ: FTNT) posted the biggest average gains. A month after an attack, the major cybersecurity players did even better as demand for their services increased. Barracuda, FireEye, and Fortinet, along with Proofpoint (NASDAQ: PFPT) , were big gainers, on average, a month out. CNBC's parent NBCUniversal is a minority investor in Kensho. More From CNBC Value investor Klarman just bought big stakes in two Apple suppliers Snap shares surge more than 8% after filings reveal big hedge funds bet on the stock Bitcoin plunges $200 after cyber attackers demand ransom using it || Amazon's Alexa Calling is like a Jetsons version of the home phone: For what was originally supposed to be a mail-order bookstore, Amazon (AMZN) sure is doing a lot of trailblazing.
I mean, Amazon came up with the idea for the Echo—the cylinder that serves as a sort of Siri for the home—all by itself. It invented that product category, puttingGoogle,Apple,Microsoft, andSamsunginto the awkward position of being copycat followers.
Now thatmore than 10 million people have Echo devices, Amazon has just taken another trailblazing step:With a free software update, it has turned them into hands-free speakerphones. Calling Chris is as easy as saying “Alexa, call Chris” from across the room, even if your hands are goopy with flour or you can’t find your phone.
Over at Chris’s house, the ring atop the Echo pulses green, a pleasant chime sounds, and Alexa announces, “David [or whatever your name is] would like to talk.”
Chris says “Alexa, answer,” and the conversation begins.
At the end of the call, either one of you can say “Alexa, hang up” to end the chat.
So whom can you call? Anyone in your phone’s address book who has either an Amazon Echo or the free Alexa app. That’s right: The Alexa app is now an internet calling app, like Skype or FaceTime Audio. Like them, it’s free and doesn’t use any cellular calling minutes. [Update: Not to be outdone, Google has now announced thatit will bring hands-free calling to Google Home, its Alexa clone—except those calls go to regularphone numbers. No charge.]
By the way: Although the big-ticket item here is hands-free speakerphone calls, there’s also what Amazon calls messaging. It’s not what you’d think, though. It’s not sending text messages, exactly. And it’s not voicemail, exactly. It’s a cool kind of hybrid.
You say “Alexa, send a message to Chris,” and you’re invited to speak a message. You’re sending an audio recording. The ring at the top of Chris’s Echo glows green and chimes once; when Chris says, “Alexa, play my message,” your recording plays back.
But if Chris opens the Alexa app, your message also plays there, with an automated typed transcript. So it’skindalike a text message in that way. Within the app, you can also send typed texts.
It’s alsokindalike voicemail, in that you can leave a recorded message for someone—but the difference is thatyou’rein control. You decide to leave a message before you even call, rather than just hoping the other person doesn’t answer.
At its finest, Alexa Calling is like a Jetsons version of the home phone. Not only is it cordless, it’s phoneless. You don’t have to find a handset, pick it up, press buttons, hold it up to your head; you just speak into the room. You may sound pretty echoey to the other guy if you’re really far from the Echo—but if you’re within a few feet, it sounds great.
And of course, if you’re using your phone instead of an Echo, it sounds just like a speakerphone call.
It’s likely that there are some people you contact often enough that the Alexa calling thing could be handy—a sibling, parent, child, boss, lover. Alexa calling is the communication equivalent of the One-Click Buy button on Amazon.com: It eliminates so many steps, so muchfriction,that you’re inclined to use it more.
There are plenty of limitations and footnotes to Alexa calling. These don’t mean that Alexa calling is worse than our existing communication methods—only that it’s got a different set of pros and cons.
• Limited calling circle.You can call only people who have an Amazon Echo, Echo Dot, or the free Alexa app. You can’t call someone who has the battery-operated Echo Tap, and you can’t call someone’s regular cellphone number. You can call only someone who’s (a) in your phone’s Contacts, and (b) has made himself available for Alexa calling. (The setup takes about five taps, and requires typing in a security code that Amazon sends you via text message.) So it’s a pretty small circle—but then again, Skype, WhatsApp, FaceTime, and Snapchat started with small networks, too.
• Everything rings simultaneously.When someone calls, all your Echos ring at once,andyour phone app “rings.” In other words, you can’t use the Echos as an intercom within your house—but Amazon tells me that feature is coming soon. Very cool.
• It’s all speakerphone.If you have an Echo, all calls are all speakerphone, all the time. Any family member can hear. Any family member can play back the messages, too. So, you know: sext with care.
Finally, at the moment, there’s no way to block incoming calls from specific people in your Contacts. You can turn on Do Not Disturb forallcalls, but you can’t block just one idiot who’s abusing the privilege.
The tech blogs are having a field day with this one, calling it a “glaring security hole” and conjuring up the prospect of unwanted incoming calls from abusive ex-boyfriends and creepy pedophiles.
Frankly, though, the likelihood of this kind of abuse seems pretty slim. Your ex would have to know that you’ve got Alexa calling installed; would have to turn it on himself; would have to call you; and, upon hearing Alexa announce, “So and so would like to talk,” you’d have to say, “Alexa, answer.”
Above all, you’d have to keep your exin your Contacts.And why would you do that?
In any case, Amazon says that it will add the option to block people within a few weeks.
I’m already using Alexa calling for quick check-ins with my wife, my mom, and my assistant; it’s just super cool, easy, quick, and free. It’s got elements of a home phone line, a cellphone on speaker, and a walkie-talkie—but it’s not any of those.
Amazon has big plans for Alexa calling. We know that you’ll soon be able to direct calls to specific people or devices within your house. We know that you’ll be able to makevideocalls using the same steps, once the new Echo Look becomes available in June. (It’s an Echo with a screen and camera.) We know that, with permission from both parties, you’ll be able to “drop in” to peek through another Echo’s camera at any time—to keep an eye on an elderly relative, for example.
And I’ll bet that soon, Alexa will recognize who in your household is speaking (as Google Home does now), and will therefore maintain different message “boxes” for different people.
In other words, I love Alexa calling. It’s free, it’s well conceived, it works flawlessly, and it’s only beginning.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt:Part 1•Part 2•Part 3•Part 4•Part 5
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Bitcoin/Dollar Hits All-time High, CNH/JPY Eyes Key Resistance: DailyFX.com -
Talking Points：
-Bitcoin against the U.S. Dollar soared to a new all-time high, driven by Japanese purchases.
- The CNH/JPY rose back to below the yearly open range low; Chinese Caixin PMI prints could add momentums.
-Read DailyFX latest trading guides fortheoutlookof the Japanese Yen in the second quarter.
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Bitcoin
Bitcoin against the U.S. Dollar set a new all-time highon Tuesday, touching 1481.73. This is mostly driven by the increasing demand in Japan according to bitcoinity.
After the Chinese regulator started to crack down illegal transactions through Chinese Bitcoin trading platforms, the ratio of Bitcoin trading volume in China to the world hasdropped to 20% in Marchfrom more than 90% previously. Then, Japan, overtaking China, becomes the largest Bitcoin trading country by volume.
From a technical point of view, the BTC/USD is currently right below a key resistance level, the top line of a parallel. Traders will want to be aware of a likely retracement around this level.
BTC/USD1-day
Prepared by Renee Mu.
CNH/JPY
The offshore Yuan against the Japanese Yen also approaches to a major resistance level. In the mid-March, the pair broke below the open range low of 16.31 and now is back to around this level.
CNH/JPY 1-day
Prepared by Renee Mu.
In the coming session, China will release the Caixin PMI prints for April. If those gauges come in to be better than expected, they may add momentum to the CNH/JPY and increase the odds of a breakout.
See the fullDailyFX Economic Calendar
YuanIndexes
- As of last Friday, the Chinese Yuan (CNY) has been losing to a basket of currencies for the third week, measured by both the CFETS Yuan Index and the BIS Yuan Index; it has beenfalling for the second week, measured by the SDR Yuan Index. In specific, the primary gauge for Yuan’s value to a basket of currencies, CFETS Yuan Index, has dropped to the lowest level since it was quoted in 2015, to 92.98 last Friday.
Data downloaded from Bloomberg; chart prepared by Renee Mu.
Market News
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.
Chinese steel producers showed improved performance in the first quarter. 33 out of 36 steel companies that have released first-quarter annual reports revealed positive earnings in the first three months. The total profits of these listing steel companies soared to more than 11.0 billion yuan compared to a loss of -4.0 billion yuan in the first quarter last year.
- China’s State-owned Assets Supervision and Administration Commission hosted a conference, requiring steel and coal firms to cut excessive production. The annual target for steel companies in 2017 is to reduce 5.95 million tons of capacity; the target for coal companies is to cut 24.93 million tons of capacity. Amid the pressure on achieving these goals, the profits of Chinese steel and coal producers could drop again.
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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. || $BITCF's COINQX Publishes Frequently Asked Questions Regarding Its AltCoin (ALT) ICO Active Crowdsale: VANCOUVER, BC / ACCESSWIRE / April 3, 2017 /First Bitcoin Capital Corp (OTC PINK: BITCF) answers the below listed frequently asked questions in order to assist interested parties to better understand the nature and procedures to participate in its first Initial Coin Offering (ICO) sometimes also referenced to as an Initial Token Offering (ITO).
The timing of our first ICO precedes the new game changing events in Japan. Bitcoin has now gained the recognition of a mainstream currency along the lines of the world's fiat currencies. The historic event follows the implementation of a new law in Japan which categorizes Bitcoin as a legal payment option within the country. The much-awaited law went into effect on the first day of April 2017. "The new law defines Bitcoin and other virtual currency as a form of payment method, not a legally-recognized currency.Bitcoinwill continue to be treated as an asset unless there are future revisions or directives to Japanese tax law." With the new law's implementation, Bitcoin exchanges will also come under additional regulatory scrutiny. The recognition of cryptocurrency as a legal tender also means the applicability of regulations governing banks and financial institutions to cryptocurrency exchange platforms. They will be required to comply with strict anti-money laundering (AML) and Know Your Customer (KYC) requirements, along with annual audits. Other requirements include meeting the stated capital and cyber security requirements to ensure consumer protection.
The recognition of Bitcoin and other cryptocurrencies as legal payment instruments is good news for the global cryptocurrency ecosystem. Adoption of cryptocurrency is expected to increase among people, which will certainly, in turn, drive demand and price.
First Bitcoin Capital Corp releases the following FAQ regarding its newest cryptocurrency, ALT:
AltCoin FAQ
Altcoin (ALT) gives you the joint benefits of open blockchaintechnologywhile speculating on the booming cryptocurrency markets by ALT being aptly named for best branding to capture maximum market share.
How does AltCoin work and What are its Specs? AltCoin exists on The Bitcoin Blockchain through the Omni Protocol. The Omni Protocol is open source software that interfaces with blockchains to allow for the issuance and exchange of cryptocurrency tokens, in our case, "AltCoin". The AltCoin is being offered via an ICO purchasable via Tether (USDT) the most popular Omni protocol currency that trades on par with and is 100% backed by USD. The process of buying and transferring Tether will be more fully explained below with links to exchanges where available. For those unfamiliar with trading on crypto exchanges, GoCoin may be the most convenient solution to acquiring USDT with USD.
How do I acquire AltCoin during the ICO?
Once owning Tether in your private wallet and while the ICO is running you simply need to send from your Omni Wallet atomniwallet.org-Tether (USDT) to the AltCoin issuer address as follows:
1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Just copy and paste that address into the send to address and as long as the ICO is running the sender's Omni Wallet will automatically be credited with Altcoin (1 for 1 currently) plus a 20% bonus. This bonus will decease until the ICO is closed at which time post ICO received Tether will be manually returned to the sender if intended for the ICO. To check the current bonus percentages and verify that the ICO continues to be open, visit:
https://www.omniwallet.org/assets/details/149
Can I acquire ALT outside the ICO?
AltCoin has already begun trading on the Cryptopia Exchange where ALT trades in the secondary market. In other words, someone who bought in the ICO already sent some ALT to that exchange where those ALT now trade against Bitcoin (BTC). At time of this writing, the ALT is trading at a premium over the ICO. We expect ALT to be listed on many more exchanges as soon as the ICO is completed to be paired with many different fiat and cryptocurrencies.
Can Omni Protocol coins already be traded against ALT?
Tether has pathed the way, making it technologically simple for ALT to be traded and paired with USDT and other currencies on those exchanges already trading USDT. Markets can now be initiated and paired with ALT against other Omni protocol currencies such as OMNI, TESLA, PRES, HILL, USDT, GARY, BURN, BOND, XBU via:http://omnichest.info/mdexmarket.aspx?market=149.
How Can I monitor ALT issuances to learn the total issued and what will be that total?
It will not be known until the ICO is completed at the end of April 2017 how many AltCoins have been issued and that will depend on the popularity of this new coin. To monitor the total coins issued and transferred into the secondary markets, please see:http://omnichest.info/lookupsp.aspx?sp=149. In order to help find Altcoin (ALT) in the Omnichest numbering system search #149 while Tether (USDT) is searchable via #31. To monitor the Crowdsales of the ICO see Issuer's Omni Wallet here:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS.
Once the ICO is complete there will be no further ALT issued or created, meaning that the fewer the ICO buyers the more scarce the currency.
Use of proceeds?
The USDT proceeds received by the Issuer,www.Coinqx.com, a cryptocurrency exchange (where ALT will soon be listed) and a subsidiary ofFirst BitcoinCapital Corp (stock symbol BITCF) will be used to build outwww.Altcoinmarketcap.comwhere AltCoin (ALT) will be accepted so that owners of ALT will be able to use this new currency to advertise their goods and services. The USDT received will also be used for building walls of support in secondary trading of ALT and otherwise develop the issuer, its affiliates and for speculative trading in ALT and other cryptocurrencies. Should the proceeds not be sufficient to bringAltCoinMarketCap.cominto full production, the Issuer and its parent company are dedicated to utilizing other resources to turn this website into the go to place for all things cryptocurrency. We plan to roll outAltCoinMarketCap.combefore closing of this ICO.
Why Does Issuer earn 10% of each Issuance of ALT?
The 10% premium that the Issuer receives is earned in exchange for creating and issuing ALT and will be used and held for both short and long term capital gains. From our research, this is a very low amount and competitors often are more generous to themselves leaving a smaller percentage to be owned by the public.
Is AltCoin a Security?
ALT is not a security. The holders of AltCoin will be paid neither interest payments nor dividends nor will they own any property directly or indirectly in any asset or income source. ALT is merely a tokenized cryptocurrency not unlike Bitcoin. Each ALT acquired by speculators and end users will be the sole and separate personal property of the person or entity receiving ALT.
What is the relationship between AltCoin and AltCoinMarketCap.com?
While the intended use of ALT is as a forward-service receipt for ad-clicks purchased from AltCoinMarketCap.com based on the traffic that site may generate, it also may be used by holders in any legal transaction between willing participants. We estimate that the cpc for advertising on this new site will be low at first yet rise over time. Why will AltcoinMarketCap be a better Advertising Venue than, say, its obvious competitors CoinMarketCap.com or other sites? What these competitors lack is social activities and participation by the public. AltCoinMarketCap.com will engage the cryptocurrency enthusiasts allowing them to up vote and down vote coins based on their good and bad qualities as well as including social media attributes allowing interaction between those who login which will attract the public as they witness these events. The site name, data base and social interactions have been designed to place www.Altcoinmarket.com at the top of the search engines for key terms such as Altcoin, etc.
How does Tether work?
Tethers also exists on blockchains through the Omni Protocol. The Omni Protocol is open source software that interfaces with blockchains and allows for the issuance and redemption of cryptocurrency as managed tokens, in their case, "tethers". Tether Platform currencies are 100% backed by actual fiat currency assets in their reserve account. Tethers are redeemable and exchangeable pursuant to Tether Limited's terms of service. The conversion rate is 1 tether USD₮ equals 1 USD. The Tether Platform is fully reserved when the sum of all USDT in circulation is greater than or equal to the balance of fiat currency held in their reserve. Through its Transparency page, anyone can view both numbers in near real-time making Tether a stable and safe medium of exchange to acquire AltCoin in its ICO. For a more detailed technical explanation of how the Tether Platform works, please download the Tether white paper.
What real-world currencies does Tether support? Tether initially supports US Dollars (USD), Euros (EUR), and soon Japanese Yen (JPY). Represented by ₮, tether platform currencies are denoted as USD₮, EUR₮, and JPY₮.
Who can use Tether? Tether enables businesses - including exchanges, wallets, payment processors, financial services and ATMs - to easily use fiat currencies on blockchains. Some of the largest businesses in the digital currency ecosystem have integrated tether. ALT using this same technology, it is probable that AltCoins will likewise be integrated should they become a popular cryptocurrency. View current industry supporters. Individuals can also create a Tether wallet or use tether-enabled platforms to transact with tethers.
How does Tether protect me from cryptocurrency volatility?
Because they are anchored or 'tethered' to real-world currencies. However, ALT is only initially tied to Tether through the ICO, so that when the ICO closes ALT should witness wild fluctuation not unlike those experienced by BTC, ETH, XMR, DASH, etc. Due to the potential scarcity, dependent on ALT's ICO popularity, the fluctuations of ALT could be more dramatic but should eventually stabilize so it could be used in commerce. Tethers are new assets that move across the Bitcoin blockchain just as easily as other digital currencies. Tether currencies are not money, but are digital tokens formatted to work on blockchains. Tethers hold their value at 1:1 to the underlying assets with the typical price of one USD equal to one USDT on various exchanges. Rarely does USDT trade at a premium or discount from the USD, except on exchanges where trading is sporadic.
How do I know my Tether is secure? Tether is built on top of the revolutionary and cryptographically secure open blockchain technology and adheres to strict security and global government laws and regulations. All tethers are pegged at one-to-one with matching fiat currency (e.g., 1 USD₮ = 1 USD) and are backed 100% by actual assets in the Tether master reserve account. As a fully transparent company, Tether.io publishes a real-time record of all value held and transferred in and out of their reserve account. Tethers can be securely stored, sent and received across the blockchain and are redeemable for cash (the underlying asset) pursuant to Tether Limited's terms of service.
Where can I use Tether? Tether is currently in Beta although it has already ascended to one of the world's top cryptocurrencies with volume in the tens of millions daily. They want to make Tether usable anywhere, where you can use digital currencies and in many places where digital currencies are not currently accepted. AltCoin maybe the first ICO to accept USDT, and does so exclusively.
Are Tether and ALT transparent?
Yes. Both the ALT and USDT are built on the same platform, to be fully transparent always and is regularly audited. Unlike ALT and other cryptocurrencies very tether is backed 100% by its original currency.
How much does Tether cost to use? Tether has almost zero conversion fees, charges no commissions and offers topmarketexchange rates. Sending between Tether.to wallets is always free. When sending from your Tether.to wallet to an external tether-enabled wallet, Tether.io says they will absorb all Blockchain fees. Fees occurred when sending tethers outside of their wallet are outside their control.
Do I have to go through the KYC process? Going through the Tether "know your customer" (KYC) form and approval process is required to issue and redeem USD₮, EUR₮, and soon JPY₮, however this is not required to acquire USDT on many exchanges or to open an Omni Wallet where USDT and ALT may be received, sent and owned together and seen in the same wallet along with BTC and other Omni protocol assets. There is no KYC process for acquiring ALT using your USDT.
In what countries and states does, Tether have limited functionality? Tether is committed to operating in a secure and transparent way, while adhering to all government compliance and regulations .For this reason Tether does not operate in countries and U.S. states that do not regulate virtual currencies. Current countries with limited functionality:Afghanistan, Albania, Algeria, Angola, Cambodia, Democratic People's Republic of Korea, Ecuador, Guyana, Indonesia, Iran, Iraq, Lao People's Democratic Republic, Myanmar, Namibia, Nicaragua, Pakistan, Papua New Guinea, Sudan, Syrian Arab Republic, Uganda, Yemen, Zimbabwe.
Current U.S. states with limited functionality: Delaware, Georgia, Hawaii, Idaho, Kentucky, Ohio, Tennessee, Virginia, Washington, Wisconsin, Wyoming
List of exchanges where Tether can be purchased:
https://tether.to/why-use-tether/
Forward-Looking Statements
Certain statements contained in this FAQ 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 business plan represent the Company's views as of the date of this 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 release of this "FAQ". Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
The statements about Tether (USDT) are based on representation made by Tether and while we accept those statements as true, we cannot take responsibility for any loses that speculators and investors may incur (while buying, selling, trading or transferring Tether (USDT)) that is beyond our control. Our only responsibility is to deliver ALT against our receipt of USDT during the time the ALT ICO is running, and to return USDT to those whom inadvertently send USDT to us after the closing of the ICO.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Flow airs Library of Caribbean Focused Content: MIAMI, FL--(Marketwired - Apr 6, 2017) - For the first time, Flow TV customers across the Caribbean will be able to see Caribbean themed content at their convenience via Flow's on Demand platform. Through a partnership with CaribbeanTales Worldwide Distribution (CTWD), customers will be able to access a variety of Caribbean films, from an extensive library every month on Flow On Demand in eight (8) Flow TV markets. John Reid, CEO of Cable & Wireless, the operator of the consumer brand Flow , said: "This is certainly a historic moment for Cable & Wireless /Flow and our partners CaribbeanTales, as together we will deliver high quality, relevant Caribbean content that gives audience a refreshing perspective on Caribbean life." CEO and Founder of CaribbeanTales , Frances-Anne Solomon, said, "We are delighted to extend our relationship with Flow to a wide regional audience who will now enjoy the best films from the greatest filmmakers across the Caribbean." In 2013, CTWD launched its own VOD platform, CaribbeanTales-TV, with ongoing global streaming of its Catalogue. Now, with Flow's extensive VOD reach across eight (8) countries, this new partnership makes the Catalogue's content more widely accessible to Caribbean audiences. The VOD partnership was launched in February with four compelling films celebrating Trinidad's iconic Carnival. In March the spotlight was on International Women's Day (March 8 th ), with four award-winning films by and about Caribbean women. There were two feature films: What My Mother Told Me , the ground-breaking, multi-award winning, dramatic narrative by CaribbeanTales CEO Frances-Anne Solomon -- one of the few films directed by a Trinidadian woman that deals with the survival strategies of middle-class Caribbean women. The other feature is Bahamian filmmaker Maria Govan's Rain , a young woman's coming-of-age story. The two documentaries are: The Solitary Alchemist , directed by Mariel Brown, chronicling the life and work of Trinidadian artist Barbara Jardine; and Candice Lela-Rolingson's Positive and Pregnant , a seminal film about a woman who becomes pregnant and is HIV positive. Story continues April's theme centers on the iconic Caribbean instrument developed in the backyard and streets of Port of Spain -- the steel pan. This month's titles are: Atiba Williams - Pan Prodigy , Trinidad and Tobagonian director Christopher Laird's film about the youngest person ever to arrange for a steelband; Panomundo Part 1 - The Evolution of Steel Pan , the first of a two-part documentary by Charysse Tia Harper about the history of the steelpan and its global influence; Let's Play Pan by Canadian director Ian Jones , which explores the evolution from the skin drum to the steel drum and its introduction to Toronto; and also the Frances-Anne Solomon-directed Heartbeat Season 1 Episode 9 - Ian Jones , where Jones talks about "How The Steel Pan Is Changing Lives." Each month, Flow plans to release more CaribbeanTales films via Flow on Demand -- including one film for free! 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 ) ( 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 . || 10 things you need to know today: AH-64D Apache attack helicopter (An AH-64D Apache attack helicopter at the South Carolina National Guard Air and Ground Expo at McEntire Joint National Guard Base in South Carolina.Reuters/Jorge Intriago/Courtesy Air National Guard/Handout) Here is what you need to know. South Korea goes to the polls . Barring a major upset, liberal Moon Jae-in, who is open to dialogue with North Korea, is expected to win, Reuters says. UK retail sales bounce back . Data released by the Retail Sales Monitor from the British Retail Consortium on Tuesday showed that retail sales in April surged 5.6% versus a year ago after slipping 1% in March. Bitcoin tops $1,700. The cryptocurrency trades up by 4.3% at $1,728 a coin. It's up 81% this year. Jeff Gundlach doesn't like US stocks . Speaking at the Sohn Investment conference, Gundlach, the founder of DoubleLine Capital, told attendees to go long the iShares Emerging Markets ETF and short the S&P 500. Hertz tanks after missing big on earnings . The rental-car company lost an adjusted $1.61 a share, missing the $0.84 loss that Wall Street was anticipating by a wide margin. Share tumbled by as much as 15% in extended trading on Monday. SPONSOR CONTENT BY ORACLE CFOs can transform their organization into an analytics powerhouse with the right talent, tools, and strategy. Learn more. Sturm Ruger says gun demand slowed . The gunmaker said sell-through of its products from independent distributors to retailers fell by 7% after seeing a strong run-up to the 2016 presidential election. The CEO of Qantas Airways took a pie to the face while giving a speech . CEO Alan Joyce was talking about his airline's recent decision to begin nonstop flights from London to Perth, Australia, when a man ran up to the podium and pied him in the face, City AM says. "If there are any more pies, can you get it over with now?" Joyce asked. Stock markets are higher . Hong Kong's Hang Seng (+1.3%) led the gains in Asia, and Germany's DAX (+0.5%) trails in Europe. The S&P 500 is set to open little changed near 2,400. Earnings reporting remains heavy. Allergan, Office Depot, and Valeant report ahead of the opening bell, while Disney, Priceline, and Yelp are among the names releasing their quarterly results after markets close. US economic is light. Jolts Job Openings will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.39%, its highest since the end of March. More From Business Insider 26 TV shows that were just canceled United Airlines apologizes after sending woman to San Francisco instead of Paris 10 things you need to know before the opening bell View comments || Inside the World's Greatest Scavenger Hunt, Part 2: GISHWHES stands for the Greatest International Scavenger Hunt the World Has Ever Seen . Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 2 of our five-part series that goes inside the hunt. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 Part 2: The hunt begins At 7:30 am on a bright Saturday morning, five members of Team Raised from Perdition gather near San Francisco. (The team name quotes the first line of dialogue ever spoken by Misha Collins on the cult hit show “Supernatural,” now in its twelfth season. He’s GISHWHES’s creator and organizer.) The other 12 members of the team join by video conference, via Google Hangouts, from their homes in Florida, Connecticut, Illinois, Hawaii, Tennessee, and Brazil. Although this is the team’s third year in the hunt, most have never met in person. They’ve never been all in one place. That’s typical for teams in this hunt, which is very much a creation of the Internet. Jason Sarten, an opera singer, reads off this year’s list, which includes items like: Get dental work done while a string quartet plays live music in the room. Enjoy some green eggs and ham (sunny-side up) on a boat with a goat. Provide evidence of having helped at least 10 eligible United States citizens to register to vote. Paint a portrait of a live model while both you and the model are scuba diving. Get an Amazon senior executive to order a small item from you, in a timestamped email. Using a drone, deliver the item to the executive (who must be waiting outside the office building) in less than one hour. Over 3,000 teams sign up to play GISHWHES each year, and there are nearly as many styles of running the hunt. On some teams, there’s nobody in charge. On others, there’s a captain who organizes but doesn’t actually perform any of the items. Flake-outs—people who say they’ll participate, but are no-shows when the hunt begins—are a common problem. Story continues Team Raised from Perdition is run by a pair of co-captains, Nina Mostepan and Geoff McAnally, who also perform tasks. (In real life, Mostepan teaches at an Early Start program for the deaf and hard of hearing, and McAnally is an American sign language interpreter.) The corn-husk gown One reason Raised From Perdition starts off the week with a group pow-wow: To let the team members claim the items they’re good at. For example, in Vancouver, Rob Fitz-James and Shiane Gailey live together and compete together. (He owns a tree stump-removal company; she’s a children’s entertainer.) They have radically different skills. “We work well as a team because I’m outgoing and I’ll go and do stuff in person; she’s able to manage social media, uploading, and photo and video editing,” Rob says. Shiane, fortunately for the team, is also wildly creative. After the hunt-launch meeting, she jumps on item 23: “Make this year’s must-have fashion statement: the Corn Husk Evening Wear!” Rob persuades a local thrift shop to donate a Justin Bieber bedsheet. (“Thankfully, someone grew out of a horrible phase in their life,” he says.) Shiane duct-tapes corn husks to a hoop skirt—well, the front half, the part that would be visible in the photo. “Then we spray-painted it red and yellow to make flames, and then we went downtown,” she says. “I assembled that thing onto myself in a fancy part of time, and took the picture at the Convention Center. (We got permission, of course.)” There were funny looks, she says, but she checked off item 23 as completed on the team’s master Google Sheets spreadsheet. Corn Husk Evening Wear! The space balloon Meanwhile, in Connecticut, Tia is struggling with item 153: “Secure a legitimate contract with Space X, NASA, etc., to send a message into space, addressed to the universe and written by a child. You must submit evidence that your payload was successfully launched into orbit.” It sounds impossible. Like NASA is going to carry a scavenger-hunt player’s note into space on short notice? No wonder item 153 is worth more points (314) than anything else on the list. Frantic, Tia Googles until she comes across a British company called SentIntoSpace.com . They sell near-space helium balloon kits to schools, hobbyists, marketers, and filmmakers, including everything they need to send small payloads into near space. Incredibly, the company responds to her email and agrees to donate a balloon to the cause. Destination: space! The launch goes well; the landing, not so much. Upon its return from space, the balloon blows off course and becomes ensnared high in the treetops of a dense, mountainous forest. Tia and her team of friends search until nightfall, following the signals of the satellite tracker in the payload box—but can’t find the thing. And without recovering the two GoPro cameras in its payload box, she won’t have the footage of space she needed. And without that—no credit for item 153, and little chance of winning GISHWHES. Deeply discouraged, she returns home. When things go wrong Item 153 isn’t the only GISHWHES item that’s ever gone wrong. Almost every year, an item or two disappears from the list after the hunt is under way. That’s when GISHWHES mastermind Misha Collins realizes too late that he’s created a dangerous or foolhardy challenge. “There have been people who have been arrested and court martialed and injured during the course of various GISHWHES over the years,” he says. “The second year, we had an item on the list that was, ‘Wrap yourself up in Christmas-tree lights. Plug them in and stand on the roof of a house.’ “And the very first day of the hunt, some of the submissions came in. And one of them was a photo of somebody standing on the peak of a three-story house, right at the edge, on the eave, completely entangled and ensnared in Christmas tree lights. And I immediately thought, ‘WHAT HAVE WE DONE?! There is no way that we can run this scavenger hunt and have somebody not perish from this item!’ “So I immediately sent out an e-mail saying, ‘Do not do the Christmas-tree lights on the roof item! Terrible idea.’ “And so that was sort of an ‘Aha!’ moment for me when I realized, ‘Oh, there are a lot of people who are doing whatever I say. I can’t just come up with whatever pops into my head and have them carry it out.” The hunt is on In 100 countries around the world, teams are sacrificing sleep, health, and me time as they scramble to knock off items on the list. More or less simultaneously, they’re all discovering what Team Raised from Perdition has learned: that it’s very hard to get an item into orbit on short notice, that goats don’t much enjoy floating in boats, and that Amazon.com has no intention of permitting its executives to participate in item 161. Join us for Part 3 of this series, which dives into the charitable side of GISHWHES—and documents the biggest water-balloon battle ever staged. Well, in San Francisco. In Dolores Park. That we know of. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 More from David Pogue: The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Pogue's rant: No, VR films won't replace regular movies: There’s been a lot of shuffling in the realm of virtual-reality movie companies this week. Facebook (FB), for example,shut down its Oculus Studio completely. Google (GOOG,GOOGL)bought Owlchemy, a VR films company. Meanwhile, Fox (FOXA), Disney (DIS) and Lionsgate have committed millions to producing 360-degree movies.
There’s only one problem: Nobody’s figured out how to make a dramatic film in VR.
I don’t just mean the technical aspects, which are considerable. (Even when you’re making a traditional movie, it’s really hard to keep lights, crew, and vehicles out of the shot. Where are you supposed to put all that stuff when the camera films 360 degrees around it?)
No, I mean the audience-attention problem. Movie directors direct your attention, so that every audience member experiences the same dramatic moments, the same emotional “beats,” because we’re all seeing the same events. How is that supposed to work when different people are looking off in different directions?
VR will find its place as a novelty experience, like Imax or those hydraulic “4-D” rides at shopping malls.
VR is fantastic for games, concerts, realtors, and non-plotted news scenes. But will VR movies replace today’s big-screen productions—90-minute stories told through characters, dialogue, and events?
Nah.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
Insider the World’s Greatest Scavenger Hunt: Part 3
How to win the World’s Greatest Scavenger Hunt
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email.
[Random Sample of Social Media Buzz (last 60 days)]
#TEST#ビットコイン
#AI
#モデリング
9:00~10:00のBitcoin市場は反落だったのかな。
直近の市場の平均Bitcoinの価格は215034.0円で
変化率は-0.038%です。
11:00までは反騰?
【AIコメントです:テスト中@パターンA】 || #Bitcoin -0.00%
Ultima: R$ 3843.59 Alta: R$ 3878.36 Baixa: R$ 3808.80
Fonte: Foxbit || .@TIBCO's Nelson Petracek is gearing up for a tech talk at #SATURN17! Go beyond #Bitcoin and learn what to do with #Blockchain, 5/3 at 3:00. pic.twitter.com/kJesRMXQ9e || LIVE: Profit = $999.74 (0.36 %). BUY B225.08 @ $1,223.35 (#BTCe). SELL @ $1,231.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $1541.69 at 16:15 UTC [24h Range: $1525.00 - $1578.97 Volume: 7327 BTC] || And every 10000 invested in #Bitcoin today will be worth 0,00 in 5 years. #fail after criminal influences. || What do you do with #Blockchain? @TIBCO's Nelson Petracek is gearing up for a tech talk at #SATURN17! Go beyond #Bitcoin, 5/3 at 3:00. pic.twitter.com/P7chbSr46A || Média de preços #BTC
Preço: R$6.467,95
Horário: 12:00
https://watchcoins.net
#CotacaoWatchCoins #Bitcoin || $1357.51 at 12:45 UTC [24h Range: $1321.40 - $1368.00 Volume: 4748 BTC] || YObit - биржа , на которой торгуется почти 800 валютных пар https://goo.gl/irx0NL #bitcoin #yobit #биржа
|
Trend: up || Prices: 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
What Changed in Crypto Markets While You Were Sleeping — June 10: BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
On June 8, BTC reached a low of $31,025 and bounced, creating a long lower wick (green icon). The wick was similar to those created on May 19 and 23, validating the $31,000 level as strong support.
The next day, it created a bullish engulfing candlestick and briefly moved above $37,000. This is a very strong bullish sign.
Technical indicators are leaning on bullish but provide some mixed signs. The MACD histogram has been consistently moving upwards since May 19. However, it’s not yet positive. Furthermore, the signal line is below 0.
The RSI has generated bullish divergence (blue line), preceding the upward movement. However, it has now generated ahidden bearish divergence(red, dashed).
Finally, the Stochastic oscillator has made a bullish cross.
Therefore, technical indicators in the daily time frame do not provide sufficient data to confirm the direction of the trend.
The total cryptocurrency market cap is up 5% in the past 24 hours in a move to $1.6 trillion. The majority of altcoins are recovering off the back of yesterday’s bullish news of El Salvador approvingbitcoin as legal tenderin the country. Bitcoin is trading up nearly 7% on the day and is back to the $36,500 level.
Kusama (KSM)is today’s biggest altcoin gainer, up nearly 13% on the day, and is currently trading for $490. Theta Fuel (TFUEL), on the other hand, has lost more than 15% on the day in a fall back to the $0.57 level. Despite this, TFUEL is the biggest weekly gainer at the moment and is still up nearly 47% in the past seven days.
• Krakenhas announced that it will stopmargin tradingservices for users who do not meet higher levels of identity verification.
• Decentralized finance (DeFi) protocol Curve has been tweaking its mathematically complex algorithm to introduce dynamicautomated market making.
• Senator Elizabeth Warren recentlytore into cryptocurrencies, saying that they have failed to keep their promise and do more damage than good. || FTSE 100 set for slow start while Bitcoin slides again: The FTSE 100 was set for a modest gain today while cryptocurrencies were falling.
Bitcoin is down nearly 2% in the past 24 hours after having a subdued week, not helped by the travails of Binance.
Bitcoin fell to $34,314 this morning, with the bears shrugging off reports that billionaire George Soros’s family office had started trading the currency.
TheStreet.com reported that the man who famously made billions shorting the pound during the Exchange Rate Mechanism crisis was now a fan of the volatile asset class.
The same website reported that hedge funder Steve Cohen’s Point72 Asset Management was also looking to get further into cryptos by seeking to hire a head of cryptocurrencies, adding to the number of hedgies making similar moves.
The FTSE 100 futures market indicated that the blue chip index would gain 6 points to 7059 when trading opens.
Sentiment towards bricks and mortar retailers could be damaged by news yesterday that Gap was closing all of its shops in the UK to focus purely on online selling.
All 81 stores will close, putting up to 1000 jobs at risk. A total of 23 will shut by the end of this month with the group blaming “market dynamics in the UK and Republic of Ireland.”
Morrisons will be closely watched after the shares jumped shortly before the close yesterday. Speculation is rife that its private equity suitor Clayton, Dubilier & Rice was set to up its spurned takeover bid.
JO Hambro, one of the supermarket group’s biggest shareholders, wants another £1 billion added to the £5.5 billion opening shot.
The company has until July 17 to make a firm offer, so there is no rush, but the dealmaking community is trying to get its takeovers done before August. One deal adviser last night was talking of how many in his world were approaching burnout due to the frenzy of activity in the past eight months.
Banks could see some support from markets on news reported in the Financial Times that the government has won an exemption for UK financial services firms from new global rules on taxing multinationals.
The proposed new global tax rules were announced last month when the G7 nations backed a minimum tax rate of 15% but chancellor Rishi Sunak is believed to have secured an exemption for UK finance.
However, in return he has had to make concessions to the US on the popular digital services tax focused on the likes of Amazon and Facebook.
Sunak was concerned that rules forcing companies to pay tax in the countries where they operate would see the UK exchequer lose revenue from the City’s foreign earnings.
Read More
Firms seek more support, as changes to furlough and business rates come in from July
Inflation is “rising fast” and could hit 4% this year, warns Bank chief
Cadogan says footfall improving in Chelsea, after value of its property empire fell during the pandemic || These are the new movies, podcasts, and books everyone’s talking about right now: The weekend is almost here again, and I don’t know about you, but this is the time when I engorge myself on all the pop culture I’ve been meaning to get to and that’s been steadily piling up over the course of the week. Especially during the coronavirus pandemic , it feels like content creators have been working overtime to keep supplying us with so much for our Netflix queues and for the stack of books to read beside our bed that never seems to get smaller, not to mention all the other content we spend our free time enjoying. Below, you’ll find some of the shows, movies, books, and more that I’m either spending time on now or plan to this weekend (which is when some of the titles, below, will be available). If you need some recommendations for new shows, movies, and the like to check out, keep reading — I hope you’ll find something you enjoy somewhere on this list. Exit Scam I’ll start with a new podcast I’ve been checking out. Exit Scam tells the story of Gerald Cotten , the founder of the biggest Bitcoin exchange in Canada, who died in 2018 during a honeymoon trip to India. What makes this such a fascinating story is that the customers of Cotten’s exchange were told they’d lost forever the $215 million they’d collectively deposited… because Cotten didn’t leave his passwords behind. Couple that with the fact that Cotten died under mysterious circumstances, plus not everyone even believing that he’s actually dead, and you have the makings of a great story. As of the time of this writing, one episode of the podcast is out now and I’m already hooked (I’ll confess: I was convinced to give this one a try upon the recommendation of Dan Taberski, the host of the fantastic Apple original podcast, The Line ). Army of the Dead Zombie heist film? It stars Dave Bautista leading a band of mercenaries to fight through an army of zombies to grab the cash from an empty casino, amid a barren, seemingly pandemic-stricken wasteland. I was sold, hard, on Army of the Dead even before seeing the trailer for this new Netflix original feature film (which opens in theaters this weekend, and will also stream on Netflix starting one week from Friday). Story continues From the official Netflix description: “Following a zombie outbreak in Las Vegas, a group of mercenaries take the ultimate gamble, venturing into the quarantine zone to pull off the greatest heist ever attempted.” Against an army of zombies that includes, we should add, a freaking ZOMBIE TIGER. Those Who Wish Me Dead Also in theaters this weekend, as well as streaming on HBO Max , is another film I’m ridiculously pumped for, and that’s because it comes from Taylor Sheridan. He directed and co-wrote the screenplay for Those Who Wish Me Dead , starring Angelina Jolie, and the fact that Sheridan is attached to this is a good enough reason for me to check it out. Sheridan also wrote both of the Sicario movies, starring Benicio del Toro, as well as two other fantastic dramas: Hell or High Water , and Wind River . From the official Warner Bros. Pictures description: “Oscar winner Jolie ( Girl, Interrupted , the Maleficent films) stars as Hannah, a smoke jumper still reeling from the loss of three lives she failed to save from a fire when she comes across a traumatized 12-year-old boy with nowhere else to turn. The film also stars Nicholas Hoult (the X-Men films), Finn Little ( Reckoning ), Aiden Gillen ( Game of Thrones , Peaky Blinders ), Medina Senghore ( Happy! ), Tyler Perry ( Vice , Gone Girl ), Jake Weber ( Midway , Homeland ), and Jon Bernthal ( Ford v Ferrari , Wind River ).” Amazon Unbound: Jeff Bezos and the Invention of a Global Empire how it started how it's going pic.twitter.com/j3f5nMfFUx — Brad Stone (@BradStone) May 11, 2021 As Bloomberg journalist Brad Stone’s tweet above shows, Amazon Unbound , available now, is his kind of follow-up, companion book to his 2013 bestseller The Everything Store , which took readers back through the history of “the everything store” itself. Where that previous title closes, however, is arguably just when things were getting really juicy at Amazon — before the political tide began to turn against the company in a major way, before its HQ2 contest , before the company’s Prime Video Netflix rival started really taking off, and so much more. The newly published Amazon Unbound picks up with the more recent chapters of Amazon’s history, and reveals plenty of juicy anecdotes — like the 12-step plan Amazon CEO Jeff Bezos came up with for the creation of “iconic” Prime Video TV shows, and that the popular Amazon Echo smart speakers were originally going to be called Amazon “Flash” devices. The Premonition: A Pandemic Story Also available to read now is author Michael Lewis’ newest book, The Premonition — this one a character-driven deep dive into why the COVID pandemic ended up being as bad as it did (TLDR: The CDC is one of the key villains of this book). The fact that Universal Pictures has already purchased screen rights to the book (which, we should add as a reminder, is from the guy who also gave us The Big Short and Moneyball ) should tell you something about how compelling a read this is. In short, it offers character sketches of several people whose names you’ve probably never heard before, most of whom tried to raise the alarm in the early days of the pandemic. I wish everyone would read this book. It’s fascinating. And maddening. Move to Heaven This K-drama is debuting on Netflix on Friday. From Netflix’s official description about Move to Heaven : “Finding life in all that’s left behind, a detail-oriented trauma cleaner and his estranged uncle deliver untold stories of the departed to loved ones.” Basically, it’s about a guy and his uncle whose job it is to clean and pack up peoples’ things after the die. I’ve been on a big K-drama kick during the pandemic, and this one looks like it’ll tell a pretty rich, emotional story. Snabba Cash The title of this currently streaming 6-episode Netflix series from Sweden roughly translates into English as “easy money.” This is a show about the hustle — about grifters, entrepreneurs, hustlers, drug kingpins, startup founders, and billionaires, all fighting for the same thing: As much cash as possible. Ricky Gervais raved about the show to his Twitter followers, describing it as a kind of cross between The Wire and Gomorrah . Snabba Cash , according to The New York Times , pulses “with pushy entrepreneurs, blinged-out cocaine dealers and a tech billionaire who tells a radio interviewer, ‘I am the system.'” The title of the show, the NYT continues, “is as much an ethos to live by for Stockholm’s entrepreneurial jet set, all looking to create the next Spotify, as it is for its criminal underworld.” I’m obsessed with this series right now. Today's Top Deals Prime Day 2021 came early with these 10 exclusive deals for Prime members only Eufy’s stunning fingerprint-enabled smart lock just hit Amazon’s lowest price ever Today’s top deals: $5 smart plugs, $37 soundbar, surprise Fire TV Stick 4K sale, $79 robot vacuum, $59 projector, more 5 Amazon finds starting at $22 that will declutter your toolbox in an instant See the original version of this article on BGR.com || Cryptocurrency price crash reminds traders of one harsh truth: strategist: The rout in cryptocurrency prices this month underscores one important thing that perhaps slipped the minds of over-anxious traders during the run up in values before May. Government looms large as a major headwind to the otherwise unregulated crypto sector. "Until recently, regulators and authorities have been reluctant to move too fast into the cryptocurrency space because there has been a lot of innovation. This allowed the financial sector to innovate. Competition and innovation are usually positively correlated. But governments are unlikely to relinquish their monetary monopolies," said Deutsche Bank analyst Marion LaBoure in a new research note. LaBoure said governments worldwide — notably officials in the U.S. and China — could crack down on crypto as it begins to "seriously" compete with regular currencies. "In the end, regulating cryptocurrencies is not that difficult. The Bank for International Settlements (BIS), the G7, and the G20 are all keeping a close eye on cryptocurrencies. And regulation is coming. The latter part of 2021 and early 2022 could be a turning point for cryptocurrencies around the world. Regulators have cryptocurrencies on their agenda as a key priority," explains LaBoure. Indications of the heavy hand of government coming down on the crypto space are already emerging. Authorities in China said Friday that it would be necessary to crack down on bitcoin mining and trading behavior to limit investment risks. This comes on the heels of similar comments from authorities in the country to kick off the week. Meanwhile, Federal Reserve Chairman Jerome Powell said in a presentation on Thursday the governing body would continue its work on a digital dollar . Any digital dollar would likely weigh on the bullish sentiment for bitcoin and other cryptos. “The effective functioning of our economy requires that people have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a daily basis,” Powell said . “Our focus is on ensuring a safe and efficient payment system that provides broad benefits to American households and businesses while also embracing innovation.” Story continues Amid the renewed regulatory concerns, crypto prices have crashed from their highs. Bitcoin prices have tumbled 38% from their record high of nearly $60,000, hit earlier this month. Dogecoin prices have tanked more than 50% over this same span. "As fashion mogul Karl Lagerfeld pointed out, 'Trendy is the last stage before tacky.' And what’s true for glamour and style might also be true for bitcoin. Just as a 'fashion faux pas' can happen suddenly, we just received the proof that digital currencies can also quickly become passé," LaBoure said on the crypto sell-off. Brian Sozzi is an editor-at-large and anchor at Yahoo Finance . Follow Sozzi on Twitter @BrianSozzi and on LinkedIn . What’s hot from Sozzi: AMD CEO: the semiconductor shortage will take time to correct Kansas City Chiefs phenom Patrick Mahomes: I am trying to build a business empire Foot Locker CEO: this is what our future holds Intel CEO: here is when the chip shortage may end Coca-Cola CEO: our business is rounding the corner from the pandemic PGA Tour star Rickie Fowler: why I am bullish on this new $40 million bonus pool Watch Yahoo Finance’s live programming on Verizon FIOS channel 604 , Apple TV , Amazon Fire TV , Roku , Samsung TV, Pluto TV, and YouTube . Online catch Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , SmartNews , and LinkedIn. || Marilyn Monroe NFT Collection Launches On Ethernity Blockchain: A collection of exclusive Marilyn Monroe NFTs is now live on the Ethernity blockchain ecosystem. What Happened: In honor of the Hollywood icon’s 95th birthday, the Ethernity blockchain and Marilyn Monroe estates have teamed up to launch a series of NFTs inspired by Monroe. The exclusive NFT collection called “MARILYN MONROE METAMORPHOSIS” will feature curated artwork from several emerging artists across the globe. The collection will be available for auction on marilynmonroeforever.com for a period of 72 hours, beginning at noon on June 1. “Marilyn Monroe’s persona has captured the imagination of artists, creators, and art collectors for decades,” said Jim Gibb, Creative Director, The Marilyn Monroe Estate. “From Richard Avedon to Andy Warhol to Cindy Sherman to Willem de Kooning, artists have made the iconic actress an indelible part of American contemporary art. Through groundbreaking NFT technology, her image will continue to fascinate and inspire the art community through this new medium.” “Ethernity is honored to be the first platform to continue Marilyn’s legacy from the era of Pop Art to the era of NFTs and the blockchain,” said Nick Rose, Founder, and CEO at Ethernity Chain, in an exclusive press release. See also: How to Make Your Own NFT The Ethernity Chain is a blockchain-based platform built on the Ethereum network. It produces limited edition authenticated NFTs, and trading cards. Using its native crypto token ERN, holders can farm rare A-NFTs, Stake, and vote on proposals that will amend the Ethernity Chain ecosystem. “There could not be a more iconic first female celebrity to drop on Ethernity,” commented Rose. Image: Corpus Christi Caller-Times via Wikipedia See more from Benzinga Click here for options trades from Benzinga SEC Begins Review Of SkyBridge, Fidelity Bitcoin ETFs While WisdomTree Applies For Ethereum ETF Soulja Boy Accidentally Reveals How Much He Got Paid To Promote Crypto Project © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cryptocurrencies show inflows after record outflows in previous two weeks - CoinShares: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Cryptocurrencies posted inflows last week after hitting record outflows the previous two, as investors took advantage of price declines in the market, data from digital currency manager CoinShares showed late Tuesday.
Inflows into crypto investment products and funds totaled $74 million last week. That followed record outflows of $151 million the previous two weeks, representing 0.3% of assets under management.
Bitcoin products continued to see outflows last week of about $4 million, CoinShares data showed. This brings the total outflow over the last three weeks to $246 million. For the year, however, bitcoin still showed inflows of $4.4 billion.
The world's most popular currency rose 3% last week and was last up 3.8% at $38,104.
Ether, the second largest cryptocurrency in terms of market capitalization and the token used for the Ethereum blockchain, showed inflows of $47 million, with total inflows totaling $973 million.
Its price was up 13% last week, but dropped 41% the week before.
Investment product flows also showed that altcoins, or the non-bitcoin, non-ether tokens, remained popular, with inflows into Cardano and Polkadot and Ripple.
Grayscale remains the largest digital currency manager at $33.6 billion, but their assets under management were down from $47.3 billion two weeks ago.
CoinShares, the second-biggest and largest European digital asset manager, oversaw about $3.9 billion in assets as of last week, down from about $6 billion two weeks ago.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Nick Macfie) || 10 Construction Stocks Under $10: In this article we will take a look at the 10 construction stocks under $10. You can skip our detailed analysis of the construction industry’s outlook for 2021 and some of the major growth catalysts for construction companies and go directly to the5 Construction Stocks Under $10.
The global construction industry is growing at a positive rate and is expected to reach an estimated value of $10.5 trillion by 2023. The forecasted growth rate for the market is approximately 4.2% from 2018 to 2023 according toResearch and Markets. The factors that are driving this growth include population increases in developing countries, necessary upgradation of infrastructure in developed economies, the growing trend towards increased residential development, and investment in renewable energy and telecommunication sectors. President Biden's ambitious infrastructure plan is also set to boost somenotable construction stocksin 2021 and beyond.
Overall, the future outlook of the global construction industry is positive in the long term as postulated by aDeloitte report.
Construction is a major contributor to the biggest economies of the world such as the US, China, Japan, and India etc. The construction industry in the US has more than 680,000 employers with over 7 million employees and creates about $1.3 trillion worth of structures every year according to theAssociated General Contractors of America(AGC). In the first quarter of 2020, the construction industry added over $900 billion to the US economy and employed 7.64 million people. However, like many other industries, the construction market also took a huge hit due to the COVID-19 pandemic that has engulfed the world. The pandemic led to a historic collapse in construction activity creating a loss of approximately $60.9 billion in GDP in the United States. Economic shutdowns and supply chain disruptions jeopardized operations and construction schedules. Moreover, contractors were also hit as the sub-contractors were not able to report to the jobs. But as nation-wide vaccination programs are being conducted, and the government is offering protection against forbearance and foreclosure on mortgage payments, the construction industry is getting back on track with several new projects starting in the country.GlobalDataestimates that after the disruption caused by COVID-19, the construction industry is set to grow by 5.2% in 2021 and output during the year will increase by 2.5% over the preceding year. This is why many construction stocks under $10 could be worth much more by the next few years and are a great opportunity for investment today.
Even though our focus in this article would be construction stocks under $10, some notable construction stocks that are currently getting the attention of the Wall Street worth a mention. Construction giant Caterpillar (NYSE:CAT) crushed analysts’ forecasts for the first quarter of 2021, indicating a strong recovery after COVID-19 losses. Caterpillar (NYSE:CAT)'s net income in the period came in at $1.53 billion, up from $1.09 billion past year. Revenue in the period jumped 12% to reach $11.9 million.
Caterpillar (CAT)'s construction revenue in the period rose 27% year over year to $5.46 billion.
America’s leading homebuilder Lennar Corporation (NYSE: LEN) is also seeing signs of recovery. In March, Lennar Corporation (NYSE: LEN) upped its guidance for FY2021 gross margin and average home sale price The company expects its gross margin in 2021 to increase to 25%, compared to the previous guidance of $20.6%.
Lennar Corporation (NYSE: LEN)'s deliveries in the year are expected to total between 62,000 and 64,000.
Another construction stock being watched by the Street is D. R. Horton (NYSE:DHI). The company recently posted better-than-expected fiscal second quarter results. D. R. Horton (NYSE:DHI)'s home closes increased by 36% to 19,701 in the period. Net sales orders increased 35% to 27,059, crushing the estimates of 24,078 For full-year 2021, D. R. Horton (NYSE:DHI) expects consolidated revenue of $26.8 billion to $27.5 billion, above the consensus of $25.92 billion.
Other than the rise in homebuilding activity and government-backed infrastructure projects, some interesting projects that are underway include the Cybertruck plant that is being opened by Tesla, Inc. (NASDAQ:TSLA). The company plans on bringing the electric pickup truck to production in late 2021 and it has over 650,000 reservations for the electric vehicle, according to the latest tally. For the plant, Tesla, Inc. (NASDAQ: TSLA) recently bought 381 acres of land in Austin, Texas. Construction activities of this $1.1 billion manufacturing project will offer much-needed assistance for the growth of the industrial buildings sector. Moreover, Steel Dynamics, Inc. (NASDAQ:STLD) that is going to be the steel supplier for Tesla’s project is also building a new plant worth $1.7 billion in Sinton, Texas. Additionally, Ferrero North America has also announced its plan of constructing a new chocolate manufacturing unit in Illinois. Set to the first production plant for the company in North America, the manufacturing unit will involve a total investment of $75 million. The Children's Hospital of Philadelphia is also planning to spend $3.4 billion on construction of 22-story inpatient tower adding 300 beds and around 200 rooms. According to aDeloitte report, the US federal government has agreed to spend $2 trillion over the next 10 years to upgrade infrastructure throughout the country which is a huge opportunity for the construction industry. With construction activities set to commence by spring 2021, it will also boost the recovery of the construction sector in the country. These activities will not only buoy the big companies but will also help construction stocks under $10.
Technology is having an unprecedented impact on the engineering and construction industry. Many construction companies are using robots like autonomous rovers that can increase the efficiency and quality of site inspections to mechanical arms that can quickly perform highly repetitive tasks such as layering bricks. Drones are also set to become increasingly common in construction projects. From performing inspections that would be dangerous for workers to surveying vast areas of land in just a few minutes, the continued rise of drones could considerably improve safety and productivity in construction. There is also an emerging trend of green building construction in the residential sector due to the rising number of building regulations and policies mandating energy-efficient structures. This has created a market for environment-friendly and energy conserving materials used in residential construction. Companies like CEMEX, S.A.B. de C.V. (NYSE:CX) are launching net-zero carbon concrete which will help reduce the carbon emissions in building construction. Furthermore, some of the largest tech companies like Microsoft Corporation (NASDAQ:MSFT) and International Business Machines Corporation (NYSE: IBM) are investing in megaprojects to build smart cities. These projects will increase opportunities for construction investors. Investment in intelligent infrastructure development topped $120 million in 2020 and is expected to rise in the coming years, according toSmartCitiesDive.
There is no doubt that the construction industry is on track to grow and companies like Caterpillar (CAT), D. R. Horton (DHI) Steel Dynamics, Inc. (NASDAQ: STLD), Lennar Corporation (LEN), Orion Group Holdings, Inc. (NYSE: ORN), View, Inc. (NASDAQ: VIEW), and Hill International, Inc. (NYSE: HIL) are set to take advantage of the emerging technologies and boost productivity. But in this article, instead of expensive construction plays our focus will be on 10 construction stocks under $10.
Photo byScott BlakeonUnsplash
It's very important to do your research before investing in the financial markets, which are becoming volatile by the day. The entire hedge fund industry is also feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Here is a list of 10 construction stocks under $10 that have huge potential to grow in the construction industry.
Market Cap: $53.072 million Number of Hedge Fund Holders:2
Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) is headquartered in Illinois and was founded in 1909. The company together with its subsidiaries, designs, engineers, manufactures, and sells specialty piping and leak detection systems for the construction industry. It has operations in the United States, Canada, the Middle East, Europe, and India. Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) has signed a contract with Nesma & Partners Contracting worth $5.7 million to develop a district cooling network for the King Abdul Aziz Road in Saudi Arabia. It has also been awarded a contract of $6.7 million in India for the Mangla crude oil pipeline. The company reported a total revenue of $127 million in fiscal year 2020 and is a great choice for investors looking for construction stocks under $10.
PPIH ranks 10th in our list of 10 construction stocks under $10.
At the end of the fourth quarter of 2020, 2 hedge funds in the database of Insider Monkey held stakes worth $3.2 million in the firm, the same as in the previous quarter worth $3.3 million.
Market Cap: $155.722 million Number of Hedge Fund Holders:9
Hill International, Inc. (NYSE:HIL) was founded in 1976 and is headquartered in Philadelphia. It is a project and construction management company that also provides consulting services for the buildings, industrial, transportation, environmental, and energy industries. It primarily serves the United States federal, state, and local governments, other national governments, and the private sector customers. The company has operations in the United States, Europe, Latin America, the Middle East, Africa, and the Asia Pacific. Hill International, Inc. (NYSE: HIL) has announced that it was awarded a contract to manage the construction for the second phase of the Assoufid development in Marrakech, Morocco. It also signed a contract with LAMDA Development to provide consulting services for the Infrastructure and Landscape Program of the Hellinikon Project which is Europe’s largest waterfront urban regeneration program. Hill International, Inc. (NYSE: HIL) was awarded over $190 million in global infrastructure awards making it a top pick in the list of the best construction stocks under $10. Although the fee revenue for the company declined to $72.7 million in the fourth quarter of 2020 from $76.8 million in 2019, the unrestricted cash position of the firm more than doubled. According to Hill’s latestearnings report, the company was also able to grow their adjusted EBITDA for 2020 by 12.4% year-on-year.
At the end of the fourth quarter of 2020, 9 hedge funds in the database of Insider Monkey held stakes worth $31.5 million in the firm, slightly down from 10 in the preceding quarter worth $21.4 million.
Greystone Capital Management, in its Q1 2021 investor letter, mentioned SharpSpring, Inc. (NASDAQ:SHSP) and Hill International, Inc. (NYSE:HIL). Here is what Greystone Capital Management has to say about SharpSpring, Inc. and Hill International, Inc. in its letter:
"I made the decision to trim and/or exit client positions in Sharpspring Technologies and further reduce certain client positions in Hill International (HIL) following a 100%+ return in our Sharpspring position and further price increases in shares of Hill International. The decision was made in order to funnel some capital into current and new positions that based on my estimates have higher upside and better risk/reward profiles. For our continued ownership in HIL, I’m expecting a very positive 2021 where we may see the business return to top line growth and increased free cash flow generation as we continue to move past the effects of COVID-19. As for Sharpspring, I remain a fan of the business and believe upside still exists as the company continues to tackle their marketing software niche and focus on driving new customer growth. For Sharpspring, recent capital raises, additions to the Board and increased revenue growth during 2020 all point to positive operational signs. However, it is not as clear to me at these price levels whether we will be able to meet our 15-25% per year return criteria moving forward. I will continue to follow the business and look forward to any opportunities to purchase shares at lower prices.”
Market Cap: $166.569 million Number of Hedge Fund Holders:13
Orion Group Holdings, Inc. (NYSE:ORN) is a specialty construction company operating in the industrial, building, and infrastructure sectors in the US, Alaska, Canada and the Caribbean Basin. The company provides various marine construction services, including construction, restoration, dredging, maintenance, and repair of marine transportation facilities and pipelines, bridges and causeways, and marine environmental structures. The company recently announced new contract awards worth approximately $27 million. The work on all these projects will commence in the second quarter of 2021 and is estimated to be completed before the year ends. According to the latestearnings reportof Orion Group Holdings, Inc. (NYSE:ORN) the net income for the fourth quarter of 2020 was $3.7 million with $0.12 diluted earnings per share compared to net income of $0.2 million with $0.01 diluted earnings per share in the same quarter of 2019. The company has shown strong growth in profitability and cash flow for 2020 and their adjusted EBITDA increased by more than 35% over 2019 showing an improvement in the adjusted EBITDA margin by 210 basis points. According to Orion’s CEO Mark Stauffer, this improvement was driven by production efficiency gains. This strong performance makes it a great pick for investors who are looking for the best construction stocks under $10.
In the fourth quarter of 2020, ORN shares were owned by 13 hedge funds worth a total value of $13.5 million up from 10 hedge funds in the third quarter of the same year, according to Insider Monkey’s database.
Market Cap: $290.033 million Number of Hedge Fund Holders:5
DIRTT Environmental Solutions Ltd. (NASDAQ:DRTT) is a Calgary-based company that was incorporated in 2003. It designs, manufactures, and installs prefabricated interior solutions which are primarily used in commercial spaces across several businesses and industries in the United States. DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) is of great interest in the construction industry due to its ICE software which provides integration and management for construction projects. It is used throughout the process from designing and manufacturing to installation. It offers interior construction solutions through a network of independent distribution partners and serves the healthcare, education, hospitality, medical, and commercial industries.
With a market cap of $290.033 million it is no surprise that the company is in the top 10 construction stocks under $10 list. DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT) recently announced the release date of its largest version of the ICE 21 software which will allow expanded functionality for its users. As stated in the company’sannual report, revenues for the year 2020 were $171.5 million, a decline of $76.2 million or 31% from $247.7 million for the year 2019. Moreover, the gross profit for 2020 was $53.3 million.
Unlike Caterpillar (NYSE:CAT), Lennar Corporation (NYSE: LEN) and D. R. Horton (NYSE:DHI), DRTT is a cheap construction stock to ride the upcoming infrastructure boom in the US.
Market Cap: $667.992 million Number of Hedge Fund Holders: N/A
Cementos Pacasmayo S.A.A. (NYSE:CPAC) is a cement company, produces, distributes, and sells cement and cement-related materials in Peru. The company operates in three segments: Cement, Concrete and Precast; Quicklime; and Sales of Construction Supplies. It produces cement for various uses, such as residential and commercial construction, and civil engineering. It also distributes other construction materials manufactured by third parties, such as steel rebars, cables, and pipes. As of March 31, 2021, the company operates a network of 269 independent retailers and 405 hardware stores. The company’s sales volume of cement, concrete and precast increased by an outstanding 37.2% in 2020. The total revenue in 2020 was $338 million which was a 27.1% year-on-year increase.
On November 16, 2020, Cementos Pacasmayo S.A.A. (NYSE: CPAC) approved a cash dividend of $0.23 per common and investment share. The strong financial performance of the company makes it a good pick for the 10 construction stocks under $10 list.
Click to continue reading and see the5 Construction Stocks Under $10.
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Disclosure: None.10 Construction Stocks Under $10is originally published on Insider Monkey. || Globant Says It Bought Bitcoin in Q1: Information technology and software development firm Globant boughtbitcoinin the quarter ended March 31, according to a companyfilingmade this week with the U.S. Securities and Exchange Commission
• With the purchase, the Luxembourg-based firm becomes the latest company to hold cryptocurrency on its balance sheet, following in the footsteps of firms like MicroStrategy and Tesla.
• At March 31, when the price of a single bitcoin was roughly around $58,000, Globant’s holdings of the leading cryptocurrency was worth $500,000. Bitcoin is currently trading at about $34,000.
• A spokesman declined to comment on what the company paid for each bitcoin.
CORRECTION (May 29, 22:00 UTC):Corrects amount of bitcoin purchased.UPDATE (May 30, 00:06 UTC):Adds company spokesman declining comment.
• Bitcoin, Ether Etch Largest Daily Gains in a Week
• Bitcoin Miner Marathon Will No Longer Censor Transactions, CEO Says
• Human Rights Foundation Gives Out $210K in Bitcoin Development Grants
• Chinese Traders Use OTC Desks to Bypass Regulatory Hurdles: Report || Whales Cause Biggest Daily Accumulation Spike With 60K BTC Buys: Bitcoin breaks above $35,000 as whales cause the biggest daily accumulation spike of 2021 with 60,000 worth of BTC being purchased.
For the first time in weeks, bitcoin managed to gain over the weekend. The crypto has climbed over 5% between Saturday and Sunday. One of the key reasons why bitcoin is up over the weekend could be credited to a surge in buying from whales.
According to on-chain analysis companySantiment, whales have purchased 60,000 bitcoin in one day. In arecent tweet, Santiment stated “Bitcoin whale addresses holding between 100 to 10k BTC kicked off July with a 60k BTC accumulation spike, the highest daily spike of 2021. These addresses hold 9.12M coins combined after holding 100k less BTC just 6 weeks ago.”
Source:Santiment
The chart clearly indicates that major bitcoin holders are now accumulating sizable amounts of bitcoin. Most notably, the whales have accumulated over 100,000 coins over the past six weeks alone.
The increase in bitcoin price as well as the accumulation of bitcoin by whales corresponds with the recent decline in mining difficulty. This week saw bitcoin mining difficultydrop by a staggering 28%in its biggest single adjustment in history. The adjustment saw the hash rate also hit a new 19-month low of 87.6 TH/s.
While a declining hash rate may worry some, it is not entirely indicative of price action.Whilepreviously reported, bitcoin’s hash rate has been declining along with active addresses since bitcoin reached its all-time high around $64,000. Bitcoin demand has steadily been increasing as liquidity declines.
China continues its efforts to thwart bitcoin mining within the country, forcing major mining operations to move overseas or shut down completely.The decline in hash rateis directly related to bitcoin miners in China shutting down operations. However, the low hash rate is having no negative effect on the price of bitcoin currently. Which at the time of writing is currently sitting at $35,516. || Cryptocurrency ether rises to new record high over $3,600: (Reuters) - Ether, the world's second-largest cryptocurrency after bitcoin, on Thursday extended a breakaway rally to a new record high of $3,616.10, gathering momentum as investors diverted focus from its main rival.
On the Bitstamp Exchange ether was last up about 4.0% at $3,568.92. Bitcoin was down 0.3% at $57,353.03 and about 11% below its record intraday high at $64,895.22 set on April 14.
Ether, the token traded over the ethereum blockchain, topped $3,000 for the first time on Monday. It is up more than 385% this year, compared with 96% for bitcoin.
The rise is in part a spillover from flows into bitcoin, which has grown in stature as big-name investors from Elon Musk's carmaker Tesla Inc to Wall Street investor Stanley Druckenmiller bought in.
"Ethereum has been able to maintain its positive momentum, a crushing series of all-time highs in the past week," said Konstantin Anissimov, executive director at cryptocurrency exchange CEX.IO.
"The current all-time high has reignited the ambitious sentiment that ethereum may eventually flippen (supplant) bitcoin by market capitalization in the near future."
Also, a technical adjustment called EIP (ethereum improvement proposal) 1559, expected to reduce the supply of ethereum and go live in July, has provided a lift for the digital currency.
Still, there is a speculative frenzy going on in the asset class. Joke cryptocurrency dogecoin is up by 24,000% over the last 12 months and is now the fourth-largest cryptocurrency by market capitalization.
(Reporting by Alden Bentley and Gertrude Chavez in New York; Editing by Matthew Lewis)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-11-20]
BTC Price: 8200.64, BTC RSI: 68.79
Gold Price: 1274.60, Gold RSI: 47.34
Oil Price: 56.09, Oil RSI: 60.55
[Random Sample of News (last 60 days)]
Amazon to regulators: We won't use state licenses to sell prescription drugs: Amazon will not use pharmacy licenses it obtained from Tennessee and Indiana to sell prescriptions, but will use them to sell medical devices and supplies instead, the company has told regulators. Amazon ( AMZN ) has kept mum about its ambitions in health care, despite reports that it's exploring getting into the prescription drug business. But it has been quietly talking to regulators. Analysts from the investment firm Jefferies uncovered correspondence between the company and regulators in Tennessee and Indiana. Excerpts from these documents, which Jefferies obtained in a Freedom of Information Act request, show that Amazon intends to sell medical devices and supplies in its Indiana fulfillment center, but would not be storing or distributing prescription drugs. "Applicant (Amazon) will not store or ship drugs," the application clearly states. That said, most industry experts aren't ruling out the possibility of Amazon entering the prescription drug market. Instead, they maintain that it's a matter of if, not when. "There has been a massive overreaction to the Amazon threat," said Adam Fein, president of Pembroke Consulting and a drug supply chain expert, to CNBC. "I would never underestimate Amazon," he continued. "But I remain somewhat skeptical of Amazon's ability and desire to fundamentally alter the drug channel (as) the incumbents will have many opportunities to defend their position, capture value from internet technologies, and streamline distribution." Jefferies analysts stress that Amazon could navigate the complexities of the prescription drug space, but that it will be likely to disrupt some lower-hanging fruit first. And that includes selling medical supplies, such as surgical equipment and devices. That would be a more immediate threat to medical distribution companies, like McKesson ( MCK ) and Cardinal Health ( CAH ), rather than to pharmacies and pharmacy benefits managers. Amazon is expected to make a decision about whether it will get into the prescription drug business in the coming weeks. WATCH: The reason prescription drugs in the U.S. are so expensive may surprise you More From CNBC Silicon Valley is freaking out about options provision in tax bill Apple to launch 3 iPhones next year, including one with 6.5-inch screen: KGI Bitcoin's value rose $10 billion in just 12 hours after a dramatic sell-off || Boeing beats Airbus, Time launches Sports Illustrated show, Square Cash creates Bitcoin exchanges: Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Boeing(BA) beat out Airbus to sell $27B worth of its 737 Max 8 planes to Flydubai. The deal is a blow to Airbus, which was expected to split the order with Boeing, but not to be left out, Airbus just secured the biggest deal in its history, selling nearly $50B worth of its A320neo jets to Indigo Partners. That firm controls low fare carriers like Frontier Airlines and JetSmart.
Time Inc.(TIME) is in the spotlight. It announced it will be launching a subscription streaming service for Sports Illustrated. The service will cost $4.99 a month and will start only on Amazon Channels. Sports Illustrated is prepping over 130 hours worth of content for the new channel but it will not offer any live sporting events. Meantime,Amazon(AMZN) has decided to scrap plans for a bundled streaming service for popular U.S. broadcast and cable networks. According to Reuters, Amazon wasn’t able to convince networks to cut old business models in exchange for its a la carte channel service.
Square(SQ) is upping its Bitcoin game. Right now, select Square Cash customers can buy, sell and hold Bitcoin. However, the app DOES NOT let users make payments to friends with the cryptocurrency, which is the service’s primary function. Square says cryptocurrencies will have a big impact on how people participate in the global economy and is working on making the process faster and easier.
Tencent(TCEHY) reported a nearly 70% jump in third quarter profits thanks to strong growth in its video game business. Tencent’s stock has more than doubled in price over the past year, valuing the company at $470 billion dollars. Tencent is growing by expanding efforts in social media, video games, and by investing heavily in companies like Tesla and Snapchat. || Mnuchin: We are looking 'very carefully' at bitcoin: Bitcoin prices have been surging, sending itsmarket cap past a $100 billionas more people are becoming believers in the value of this cryptocurrencey.
When asked about bitcoin, Secretary of the Treasury Steven Mnuchin said he is primarily concerned about its use for illicit purposes.
“It’s something we are looking at very carefully and will continue to look at,” Mnuchin said. “The first issue and the most important issue is to make sure that people can’t use bitcoin for illicit activities. So we want to make sure that you don’t have the dark web funded in bitcoins. And that’s something that is a concern of ours today.”
“So if you’re a bitcoin dealer in the United States, you have the…customer requirements and BSA requirements. And those are issues I’m discussing with all my international counterparts. So our number one issue is, we wanna make sure that this is not used for illicit transfers of funds.”
Mnuchin added he didn’t have timeline for one the Treasury might have an official position on the cryptocurrency. But he emphasized that the government is looking into it.
“There’s nothing specific. But we do have working groups that are looking at this. And again something we’ll be watching very carefully.”
The surging value of the cryptocurrencyhas continued to attract attention. The IRS is looking into big individual profits by pushing for records for users on Coinbase, one of the US online exchanges for bitcoin. Meanwhile, law enforcement is on the alert as transactions are anonymous and difficult to track, making it popular for terrorist financing, ransom for cyber criminals and money laundering.
Meanwhile, figureheads across finance have chimed in. JPMorgan CEO Jamie Dimon called it a “fraud,” Bridgwater’s Ray Dalio called it a “bubble” and Saudi Prince Alwaleed bin Talal said he thinks it’s “Enron in the making.” On the other hand, investment strategist Tom Leesees it continuing to surge.
This week, Citi CEO Michael Corbat, who said he doesn’t dismiss it, alsosaid to Bloombergthat bitcoin is enough of a threat to the financial system that governments will need to issue their own versions.
—
Nicole Sinclair is markets correspondent at Yahoo Finance
For more from Secretary Mnuchin, please see:Secretary Mnuchin: Corporate tax cuts are about bringing jobs back to the US
Please also see:Benioff: Companies like Facebook and Twitter must take ‘full responsibility’ for what they’ve createdMarc Benioff: We can’t leave anyone behind during the ‘fourth industrial revolution’Mellody Hobson: Diversity isn’t about do-gooderism—it’s about the bottom lineFormer Greek Finance Minister Yanis Varoufakis: ‘America doesn’t have a debt problem’ || Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode': Saudi Prince Al-Waleed bin Talal sharply criticized bitcoin during an appearance on CNBC today, saying that he agrees with JPMorgan CEO Jamie Dimon's assessment that the cryptocurrency is a "fraud." "I just don't believe in this bitcoin thing," Al-Waleed said, according to a transcript published by CNBC . "I think it's just going to implode one day. It's Enron in the making." When asked about the specific comparison between bitcoin and the infamous American energy company that fell apart in the early 2000s amid revelations of massive accounting fraud, Al-Waleed reiterated his position that he "just [doesn't] believe in bitcoin completely." Al-Waleed went on to say: "It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any federal – elect – United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode." It was then that Al-Waleed – a Saudi royal family member who, as head of the Kingdom Holding Company, has an estimated net worth of more than $17 billion – said he agreed with Dimon, who issued the now-infamous remark last month that he believes that bitcoin " is a fraud. " Dimon – whose bank is a backer of blockchain-related initiatives like the Enterprise Ethereum Foundation – has since doubled down on those remarks, predicting that governments would begin targeting the cryptocurrency. Image via CBS/YouTube Related Stories Mark Cuban-Backed Unikrn Raises $31 Million in E-Sports Token Sale Prepping for a Pullback? Bitcoin Price Drops Below $6,000 Quiet Surge: Bitcoin Price Sets New High Above $6,000 Bitcoin Stumbles Near New High But $5k Still in Play || STOCKS HIT RECORD HIGHS: Here's what you need to know: US Navy George H.W. Bush aircraft carrier Seahawk helicopter US Navy/Mass Communication Specialist 3rd Class Matt Matlage The major averages closed at record highs on Friday. The day didn't start out so well though, as General Electric caught investors off-guard with its disastrous earnings report ahead of the bell. But, after sliding more than 6% at the open, GE ended the day higher and the S&P 500, Dow Jones industrial average and Nasdaq posted their best closes of all-time. Here's the scoreboard: Dow : 23,328.63, +165.36, (0.71%) S&P 500: 2,575.21, +13.11, (0.51%) Nasdaq: 6,625.41, +23.99, (0.36%) US 10-year yield: 2.318 %, -0.02 WTI crude oil: $51.66, 0.26, 0.51% General Electric's disastrous earnings report caught traders off-guard. The stock clawed its way back on Friday as traders digested CEO John Flannery's restructuring plan. Snap hit with more layoffs, plans to slow hiring in 2018. Snap's stock, on the other hand, rose as the company cut workers and said it was slowing plans for future hiring. Bitcoin spikes to a record high near $6,000. The currency is at all-time highs, even as Wall Street wrestles over its future. Catalonia's fight for independence is about to hit a wall. Tensions in the Spanish region are simmering, and the Spain's stock market has been reflecting that volatility. The GOP has found an innovative new way to steal from your future self. Republicans want to punish people saving for retirement to finance Trump's tax cuts. Other headlines The stock market's robot revolution is here JPMORGAN: Tesla could have to raise the price of the Model 3 Republicans are considering a proposal that would radically change the way you save for retirement Apple will have only shipped 3 million iPhone X units when it launches — good luck finding one NOW WATCH: Debating the odds of a stock market correction See Also: Amazon has triggered a $5 billion bidding war — here are some of the craziest proposals for its new headquarters 2 former presidents — from both parties — blast the state of American politics in unprecedented day STOCKS HIT RECORD HIGHS: Here's what you need to know SEE ALSO: What you need to know on Wall Street today || A startup that wants to help Wall Street clean its data just landed $10 million in funding: Lulea data center 5 - Facebook data center Facebook Data solutions provider Crux raised $10 million in a funding round led by Goldman Sachs. The New York-based firm wants to "make data delightful" by taking the grunt work out for Wall Street. Crux, a data solutions provider, announced it raised $10 million in a Series A fundraising round led by Goldman Sachs. The company, which was founded by Phillip Brittan, a three-time entrepreneur and former chief technology officer of financial juggernaut Thomson Reuters, is looking to address the pain points many Wall Street firms face when they're trying to make use of data. "We want to make data delightful," Brittan told Business Insider. Crux announced the funding round backed by Goldman and a "small handful" of other strategic investors on Wednesday. The company declined to name those other investors and comment on its valuation. Data has become increasingly important to Wall Street. As noted by a recent report from Boston-based money manager State Street, data has become a vital way for firms to differentiate themselves and better serve clients. “Using big data and digital technologies,we are able to price portfolios up to 30 minutes faster — which has had a transformative impact for our clients.” Liz Roaldsen, head of digital transformation at State Street, said. However, acquiring data, storing it, and then making sense of it, is a timely process for many firms and often draws resources away from actually figuring out ways to execute strategies based off the data you have. Brittan said he wants to take that non-differentiated grunt work off the hands of Wall Street's hedge funds, banks, and private equity firms. "Just like how a logistics firm helps manufacturing company orchestrate supply chains, we are orchestrating the supply chain of data," Brittan said. As such, Crux doesn't just connect its customers with data from providers. Instead, it aims to help guide clients through the entire data supply chain, from acquiring data from providers to cleaning and preparing the data to then packaging it to clients in a way that's relevant for them. Story continues "If you're a hedge fund, for instance, you're going to spend most of your time cleaning data, storing it, and putting IT resources behind protecting it," Brittan said. "That takes weeks of toil and shifts focus away from actually creating alpha-driving solutions with that data that can differentiate the firm from the competition." The deployment of new technologies such as data, according to Broadridge, a financial consultancy and tech provider, will take place through a mixture of in-house development and third party partnerships . "Given the imperative to cut costs and the opportunities offered by new technologies, many institutions are now actively seeking to embrace partners," the report titled "Pathways to Profit" said. "They are leveraging partnerships to add innovation in areas where they lack expertise or scale, or to enable them to focus the expertise they do have on their most differentiating areas." NOW WATCH: This is what separates the Excel masters from the wannabes See Also: AI and security were among the top trends discussed at Money20/20 HSBC unveils robo-advisor plans Bitcoin passes $7,300 || Tap Nvidia Growth Story With These Tech ETFs: After the closing bell yesterday, Nvidia NVDA reported stronger-than-expected fiscal 2018 third-quarter results. The company beat the Zacks Consensus Estimate for both the top and the bottom line and issued an upbeat guidance. This pushed NVDA shares up 2.5% in after-hours trading on elevated volume (read: 7 Top-Ranked Tech ETFs on Unstoppable Rally). Q3 Earnings in Detail Earnings per share came in at $1.33, crushing the Zacks Consensus Estimate of 94 cents and improving 60% from the year-ago quarter. Revenues climbed 32% year over year to $2.64 billion and edged past our estimate of $2.36 billion. The performance was powered by a boom in the datacenter and gaming business lines. Datacenter revenues more than doubled to $501 million, while gaming sales increased 25% to $1.56 billion. Notably, gaming remains the company's biggest moneymaker and the largest segment, accounting for 59% of total revenues. For the fourth quarter of fiscal 2018, NVIDIA expects revenues of approximately $2.65 billion (+/-2%). The Zacks Consensus Estimate was pegged at $2.44 billion. Going into the holiday season, the videogame maker’s drive to launch new, sophisticated games is fueling demand for gaming GPUs or graphics processing units (read: Take-Two, Activision Pushes Videogame ETF Higher). A Solid Growth Story NVIDIA is at the forefront of the artificial intelligence (AI) revolution with its combination of deep learning, software algorithms and powerful GPUs. As per Jensen Huang, Nvidia’s chief executive, “Nvidia’s GPU deep learning platform is the instrument of choice for researchers, Internet giants and startups as they invent the future.” With exceptional growth in its AI revolution, it wouldn’t be surprising if the graphics chipmaker soon becomes the industry leader. Additionally, the company is rapidly capturing the data center market as almost all the major computing service providers, including Amazon AMZN, Facebook FB, Alphabet GOOGL, International Business Machines IBM, Microsoft MSFT, Alibaba BABA, Baidu BIDU and Tencent TCEHY are using Nvidia GPUs. Further, the graphic chipmaker has expanded its reach in automobiles for self-driving cars. Growing interest in cryptocurrency mining is also giving a boost to the company’s prospects (read: ETFs Riding High On Bitcoin Surge). Currently, Nvidia has a Zacks Rank #2 (Buy). It has a Growth Style Score of B and a solid Zacks Industry Rank in the top 3%. ETFs to Buy Investors might want to capitalize on Nvidia’s growth and the upcoming surge in its share price with lesser risk in the form of ETFs. For these investors, we have highlighted five tech ETFs, with a higher allocation to this graphics chipmaker, which have the potential to be big movers in the coming days: iShares PHLX Semiconductor ETF SOXX This ETF offers exposure to 30 U.S. companies that design, manufacture and distribute semiconductors by tracking the PHLX SOX Semiconductor Sector Index. Out of these, NVDA takes the third spot with 8.3% allocation. The fund has amassed $1.3 billion in its asset base and charges a fee of 48 bps a year. It trades in a solid volume of 484,000 shares and has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook (read: Best ETFs & Stocks from October's Top Performing Sector). AdvisorShares New Tech and Media ETF FNG This is an actively managed ETF designed to invest in companies that are driving economic growth in the modern era, and can adapt to changing leadership by maintaining the ability to invest in the next generation of technology and media companies leading the equity markets. It seeks to provide a similar return stream to the performance of technology and media equity leaders as characterized by the FANG stocks acronym. This approach results in a basket of 25 stocks with Nvidia occupying the second position, holding 8.3%. FNG debuted in the space in July and has amassed $36.6 million in its asset base. It comes with a high expense ratio of 0.85%. Volume is light at 61,000 shares. Global X Robotics & Artificial Intelligence ETF BOTZ This product seeks to invest in companies that potentially stand to benefit from increased adoption and utilization of robotics and AI, including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. It tracks the Indxx Global Robotics & Artificial Intelligence Thematic Index and holds 29 stocks in its basket with Nvidia taking the top position with 8.1% share. BOTZ has AUM of $1.2 billion and trades in average dialy volume of 715,000 shares. It charges 68 bps in annual fees (read: Inside the Rise of Thematic ETFs). VanEck Vectors Semiconductor ETF SMH This is one of the popular and liquid ETFs in the semiconductor space with AUM of $1.3 billion and average daily volume of more than 3.2 million. The fund provides exposure to 26 global securities by tracking the MVIS US Listed Semiconductor 25 Index. NVIDIA occupies the third position with 5.6% of assets. While United States firms dominate the fund’s holdings with 78.5% assets, Taiwan (10.6%), the Netherlands (9.1%) and Bermuda (1.8%) round off the top four in terms of country exposure. The fund charges an expense ratio of 0.36%. It has a Zacks ETF Rank #1 with a High risk outlook. PowerShares Dynamic Semiconductors Fund PSI This fund tracks the Dynamic Semiconductor Intellidex Index, which evaluates companies based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action and value. It holds 30 securities in the basket, with NVIDIA occupying the fourth position, holding 5.1%. PSI has AUM of $385.3 million and charges 63 bps in annual fees. It trades in volume of 82,000 shares per day on average and has a Zacks ETF Rank #1 with a High risk outlook. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Alibaba Group Holding Limited (BABA) : Free Stock Analysis Report Baidu, Inc. (BIDU) : Free Stock Analysis Report Facebook, Inc. (FB) : Free Stock Analysis Report Tencent Holding Ltd. (TCEHY) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report ISHARS-PHLX SEM (SOXX): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports NVIDIA Corporation (NVDA) : Free Stock Analysis Report ADVS-NW TEC MDA (FNG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Visa Inc (V) Stock Is Not Cheap but It Still Is a Buy: Warren Buffett famously said, “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.” That maxim applies well toVisa Inc(NYSE:V) at the moment. V stock certainly isn’t cheap, trading at over 30x FY17 earnings per share. And the dividend paid on Visa stock yields just 0.62%, perhaps limiting the stock’s appeal to income investors.
Source: Shutterstock
But Visa is a wonderful company with wonderful growth. It’s the dominant credit card issuer in the world, well ahead of rivalsMastercard Inc(NYSE:MA) andAmerican Express Company(NYSE:AXP). Earnings per share are guided to increase 20% in FY17, a huge number for a $243 billion company.
Valuation does look potentially stretched. InvestorPlace columnist Will Healy argued recently that AXP wasa better buythan V stock for that reason. But investors should pay up for quality, as Buffett points out. And it’s hard to argue with the quality of Visa’s revenue, earnings, and growth.
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Simply as a company, it’s hard to argue with Visa. The company hasmore than 50% market sharein the U.S. in terms of purchase volume. That figure has grown of late, as Visa has taken share from both Mastercard and American Express. Those share gains were helped by Visa’s deal withCostco Wholesale Corporation(NASDAQ:COST) and have continued since.
• 7 Spinoff Stocks That Could Be Better Than Their Parents
Meanwhile, the industry looks healthy as well. Credit and debit card usage continues to grow at a rate above the economy as a whole. Margins remain intact and impressive, with Visa guiding for operating margin this year in the mid-60% range, some of the highest in any business anywhere.
And it seems highly unlikely that Visa will be displaced. Companies likePaypal Holdings Inc(NASDAQ:PYPL) andSquare Inc(NYSE:SQ) are trying to disrupt the payment industry but both use Visa. Visa and Paypal, in fact,have a partnershipfor payment services in both the U.S. and Europe.
Visa seems to have an unassailable position in a growing industry. That’s about as good as combination as an investor can get.
The concern, as noted, is valuation. The irony of using the Warren Buffett quote in this article is that Buffett’sBerkshire Hathaway Inc.(NYSE:BRK.A,BRK.B) owns not Visa stock but American Express. Indeed, as Healy pointed out, Berkshire has asked the Federal Reserve for permission toincrease its ownershipin that company.
But it’s not as if V stock is staggeringly expensive. A 27x forward EPS multiple isn’t cheap by any means. But in a market where stable, slow growers generally are trading for low-20s multiples, 27x isn’t that big a number for what should be mid-teen earnings growth going forward.
At the end of the day, investors are going to pay for quality. And while V stock does trade at a premium compared with both MA and AXP, it’s also growing faster than those rivals on both the top and bottom lines. Waiting for a pullback in Visa stock makes sense in theory but that pullback simply may not come.
Visa has a premium valuation because it’s a premium company in an attractive industry. Credit card usage is going to grow, and as of right now it looks like Visa’s share of that usage is going to grow. Theacquisition of Visa Europestill has benefits to provide, and further growth internationally will keep Visa stock heading in the right direction. Investors admittedly are paying up for V stock but it’s a stock worth paying up for.
As of this writing, Vince Martin has no positions in any securities mentioned.
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The postVisa Inc (V) Stock Is Not Cheap but It Still Is a Buyappeared first onInvestorPlace. || A cottage that’s heated for free with bitcoin mining: Two entrepreneurs have figured out how to heat their homes for free: bitcoin mining. Bitcoin transactions require a lot of processing power, which creates a lot of heat. So Ilya Frolov and Dmitry Tolmachyov built a wooden cottage in the Russian Siberian town of Irkutsk, and they’re heating it with two bitcoin mines. The men pocket about $430 a month from bitcoin transactions, while keeping the 20 square meter space warm. Watch our video to see how the heating system works. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Sellers are protesting against Amazon India’s returns policy by pulling back ads A halal guide to mind-blowing sex is teaching Muslim women how to set the bed on fire || Bitcoin, Fueling the Ransomware Epidemic: This article appeared in Cybersecurity Law & Strategy, an ALM publication for privacy and security professionals, Chief Information Security Officers, Chief Information Officers, Chief Technology Officers, Corporate Counsel, Internet and Tech Practitioners, In-House Counsel.Visit the website to learn more.
Year after year, security experts have raised the alarm regarding the threat of ransomware, and yet it continues to be the leading cause of security breaches. At BakerHostetler, our incident response team continues to see organizations of all sizes and in every industry fall victim to this threat. But what has been fueling the rapid growth and spread of ransomware?
At its core, ransomware is a type of malware. Similar to the viruses and worms that have plagued the computer industry for decades, its defining characteristic is the ransom demanded to restore access to infected systems or data. Money is a powerful motivator, but it alone wasn t enough to fuel the ransomware epidemic. After all, the first documented ransomware infection was in 1989, but it remained relatively unknown until its resurgence over the past five years. So what changed? In short, bitcoin.
The Rise of Bitcoin
In the past, getting paid was a major obstacle to the growth of ransomware. Checks can be stopped, wire transfers can be reversed and credit-card purchases can be charged back to the seller. Not to mention that each of these payment methods could potentially be traced back to the criminal. That is not to say that it was impossible for criminals to get paid, but significant overhead and risks were associated with the various payment methods. Bitcoin solved that problem.
In 2008, Satoshi Nakamoto published a white paper outlining the foundation of what would eventually become bitcoin. Utilizing cryptography to control the creation and management of the currency, bitcoin is a type of digital cash. More important, bitcoin operates without a central governing body. In other words, there isn t a central bank or regulator available to reverse or stop fraudulent payments. Once made, bitcoin payments are typically irreversible, the digital equivalent of handing someone cash, only transferred electronically instead of in person.
Digital currencies are nice in theory, but unless they can be exchanged for something valuable in the real world, they are not very useful. Bitcoin solved this problem as well. Bitcoin is the first cryptocurrency to gain widespread acceptance. While it did get a significant boost when it was selected as the currency of choice by the now-defunct Silk Road drug marketplace, bitcoin can be used at thousands of legitimate businesses and currently has a market capitalization in the billions of dollars.
The Payment of Choice for Hackers
With the development of bitcoin, ransomware developers now had a reliable method of benefiting from their activities and an avenue for laundering the profits. Bitcoin was the missing piece and the catalyst for the rise of ransomware. Consider the gradual decline in other ways hackers could monetize their activities in this same time frame.
Before ransomware, the theft and sale of payment-card information was the primary revenue stream for criminal hackers. Only a small number of companies process or store credit-card information, and those that do allocate significant resources to the protection of that information. With the adoption of the Payment Card Industry Data Security Standard, a successful theft of credit-card information required skills and resources typically reserved for the most skilled hackers or criminal organizations. Contrast this situation with the typical ransomware situation. Anyone with data (or a computer), not just those with credit-card information, is potentially a target. This exponentially increases the number of targets, many of have not allocated resources to information security.
In many cases, this oversight is understandable. After all, your wedding or vacation photos are extremely valuable to you, but because they are not valuable to others, you are unlikely to dedicate significant resources to protecting them. Those running ransomware exploit that mentality because it makes easy targets. Compounded by the fact that ransomware requires very little technical skill to deploy, the reasoning behind the rise of ransomware has become clear.
Best Practices
Ransomware is here to stay. Just as we have seen with other computer viruses and spam email, ransomware is an unfortunate byproduct of using the Internet. The best defense against ransomware is a combination of security awareness training, technical safeguards and proactive security measures:
• Ensure all systems have anti-virus software installed that is configured to automatically update and perform regular scans. But do not rely on anti-virus software alone. New variants are constantly being developed and specifically designed to avoid detection.
• Most ransomware requires some interaction by the user. Therefore, consider security awareness training on ransomware and the types of phishing email used to propagate it.
• Back up data on a regular basis, and verify the integrity of those backups. Given the strength of the encryption used in ransomware, backups will likely be your only recourse for restoring data if you do not pay the ransom. Remember to segregate your backups from the primary network to prevent the ransomware from encrypting that data as well.
• Utilize group policy or other access controls to limit write-access to files, directories and network shares that are not specifically required for the user s job function. Ransomware inherits the user permissions for the individual who activated it. By limiting a user s access, you limit the ransomware s ability to spread should an infection occur.
• Consider using application whitelisting and limiting user ability to run applications and/or install programs.
• Conduct a mock exercise involving ransomware to test your incident response plan and gauge the speed and effectiveness of your ability to restore data.
Conclusion
Remember, ransomware is a threat not only to your network but also to those you may connect to or rely upon. Consider how a ransomware infection involving a critical vendor or service provider could impact your operations. As long as there is a financial incentive, criminal elements will continue to develop, improve and distribute ransomware. But with proper planning and preparation, you can reduce the likelihood of a ransomware infection and minimize the impact on your business operations.
[Random Sample of Social Media Buzz (last 60 days)]
Not sure I agree here - Here's Why Bitcoin Won't Replace Gold So Easily via @forbeshttp://www.forbes.com/sites/greatspeculations/2017/10/09/heres-why-bitcoin-wont-replace-gold-so-easily/#108314649b4b … || #Bitcoin Japón es el primer país en reconocer el bitcoin como un medio de pago legal.http://bit.ly/2rB1xT9 || Dan Morehead: Bitcoin Likely to Become Expected Part of Portfolios | #VentureCanvas -http://bit.ly/2gn7ThY || Bitcoin Gold Is About to Trial an ASIC-Resistant Bitcoin Fork http://ift.tt/2kELqBu || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || 1 #BTC (#Bitcoin) quotes:
$7340.75/$7350.05 #Bitstamp
$7352.00/$7352.10 #Kraken
⇢$1.95/$11.35
$7327.57/$7401.95 #Coinbase
⇢$-22.48/$61.20 || Bitcoin - BTC
Price: $4,279.31
Change in 1h: +1.15%
Market cap: $71,000,223,217.00
Ranking: 1
#Bitcoin #BTC || We keep hearing this. When are you actually releasing Bitcoin cash? Our money is stuck with you guys - unbelievable! || #bitcoin non si ferma più? Analisi tecnica || #bitcoin non si ferma più? Analisi tecnica
|
Trend: up || Prices: 8071.26, 8253.55, 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
USD/CAD Daily Forecast – U.S. Dollar Tries To Rebound: USD/CAD Video 07.07.20. U.S. Dollar Attempts To Get Back Above The 20 EMA USD/CAD made an attempt to get above the 20 EMA at 1.3595 but failed to develop additional upside momentum. The U.S. dollar is flat against a broad basket of currencies, and the attempt of the U.S. Dollar Index to get above the resistance level at 97 was unsuccessful. Canada has released Ivey PMI data for June which showed that PMI increased from 39.1 in May to 58.2 in June. This means that Canadian purchasing activity has significantly increased. However, favorable PMI data failed to boost the Canadian dollar. In addition, oil continues to struggle to gain more upside momentum above the $40 level. A material move above this level will be bullish for commodity-related currencies including the Canadian dollar. The continued spread of coronavirus provides some support to the U.S. dollar which has served as a safe haven asset of last resort during the current crisis. Recently, Melbourne was forced to impose a six-week lockdown to contain the spread of the disease. If new lockdowns become widespread, the American currency may get more support. Technical Analysis USD/CAD tried to get above the the nearest resistance level at the 20 EMA at 1.3595 but this attempt was not successful. As a result, USD/CAD continues to trade in the range between the support level at 1.3500 and the resistance level at 1.3595. RSI is at moderate levels so USD/CAD has plenty of room to develop momentum in either direction. In case USD/CAD settles above the resistance at the 20 EMA at 1.3595, it will likely get a boost and head towards the next resistance level at the 50 EMA at 1.3670. On the support side, a move below the support level at 1.3500 will lead to increased downside momentum and take USD/CAD closer to the next support level at 1.3440. At this point, the support at 1.3500 looks strong, and USD/CAD will likely need significant catalysts to get below this level. In addition, a move below 1.3500 will signal a return to the previous downside trend so there’ll be a lot of interest at this level if USD/CAD gets to the serious test of 1.3500. 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: BTC Aims At Further Growth S&P 500 Price Forecast – Stock Markets Cotinue to Show Life Natural Gas Price Prediction – Prices Rise but Fail at Resistance USD/JPY Price Forecast – US Dollar Grinds Against Japanese Yen Again Natural Gas Price Forecast – Natural Gas Markets Continue Breakout AUD/USD Price Forecast – Australian Dollar Continues to Be Choppy || Crypto Bank Hopeful Bitcoin Suisse Raises $48M in First-Ever Round: Bitcoin Suisse has raised more than CHF 45 million (~$48 million) in its first-ever funding round. The Series A was for 16.4% of total equity – 10% newly-created – and completed in four months. It was led by Roger Studer, the former investment head of Vontobel, a private bank that held approximately $215 billion in assets under management at the end of 2019. A Zug-based financial services provider for the digital asset industry, Bitcoin Suisse said the funding round pushed its valuation to CHF 302.5 million (~$327 million). Some of the funding will expand the company’s lending business and staking services, as well as the custodial solution. Bitcoin Suisse is applying for a Swiss banking and securities dealer license, as well as a banking license in neighboring Liechtenstein. A spokesperson told CoinDesk it had set aside funding for new product offerings, should the license applications be successful. In a statement, Bitcoin Suisse said H1 2020 performance had been strong, with strong growth across its product and service range – the Series A satisfied capital needs for the foreseeable future. The spokesperson previously told CoinDesk that Bitcoin Suisse had started initial preparations for a public listing – either an IPO or direct listing – for some time in the next few years. A security token offering (STO) might also be in the works, but this will depend on market demand and Bitcoin Suisse’s capital requirements. The spokesperson told CoinDesk Friday that the Series A put the bank hopeful in a “good position” to move ahead with its listing plans. See also: Swiss Banks Enter the Age of Bitcoin Related Stories Crypto Bank Hopeful Bitcoin Suisse Raises $48M in First-Ever Round Crypto Bank Hopeful Bitcoin Suisse Raises $48M in First-Ever Round Crypto Bank Hopeful Bitcoin Suisse Raises $48M in First-Ever Round Crypto Bank Hopeful Bitcoin Suisse Raises $48M in First-Ever Round || CoinSwap and the Ongoing Effort to Make Bitcoin Privacy ‘Invisible’: A developer known for working on enhancing Bitcoin privacy has set his sights on a new project he hopes will “massively improve” how we keep our transactions private.
Chris Belcher, who also created the technical privacy market JoinMarket, is currently working onputting to the testCoinSwap, an idea first proposed by legendary Bitcoin developer Greg Maxwell in 2013. Belcher has been focusing on CoinSwap rather than JoinMarket because he thinks it will give users better privacy, he told CoinDesk.
Belcher recently received not just one, buttwograntsfor his efforts, showing just how excited Bitcoiners are about the potential of the project.
Related:Listen: What a Bitcoin Researcher Says About Lightning
Though the Bitcoin network arose froma privacy-minded movement, its privacy is actually pretty thin. Just take a look atany block explorerfor a glimpse of how easy it is to pull up any transaction that’s ever happened in Bitcoin’s history – as well as the transaction’s associated history.
Read more:Human Rights Foundation Funds Bitcoin Privacy Tools Despite ‘Coin Mixing’ Legal Stigma
“Right now, Bitcoin privacy is not very good at all. Anyone in the world can analyze the blockchain and then can find all sorts of information about users – their balance, their history, who they transact with and in what amounts, when – everything they spend,” Belcher told CoinDesk in an interview.
Belcher argues that this is, in some ways, worse than the financial privacy we have in legacy systems today. “The banking system, they know your transactions, but the general public doesn’t. With Bitcoin it is the general public — it is everyone that can see exactly what the user does,” Belcher added.
Related:Bitcoin App Bottlepay Is Back From the Dead With a New Lightning App
He added it’s important to most people that this type of information isn’t exposed to the whole world.
“Financial privacy is good for human dignity, [for example], if you don’t want your neighbors to see what charities you donate to or that type of thing, or if you’re paid inbitcoinyou don’t want your employers to know what charities you donate to or what other activities you’re involved in,” Belcher added.
“CoinJoins” (distinctive from “CoinSwaps,” which Belcher is putting to the test) are the privacy transactions that are most popular on Bitcoin today. CoinJoins give users good privacy and are becoming more popular. Thus far, they have been adopted in theWasabi wallet,Samourai Walletand JoinMarket.
A CoinJoin takes all inputs from several transactions by different users and mixes them into one big, collaborative transaction. This one big transaction then sends the bitcoins mixed from different addresses out to different addresses. Because no one can tell where the spent bitcoins originally came from, the scent of the trail is obfuscated and the participants in the CoinJoin gain better privacy.
Read more:What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition
But it’s not perfect. There are still ways for people analyzing the Bitcoin blockchain (namelyblockchain analysis companies) to detect when and where bitcoins are being mixed.
For one thing, the transaction sizes of mixed coins are much bigger than normal transactions because they contain so many different inputs.
Also telling is the fact they have outputs that are all the same size. “Equal output CoinJoins are very obvious. If someone sees them on the blockchain they can see that this kind of privacy protocol is happening,” Belcher said.
Why are outputs the same size? If Bob sends 0.8 BTC into the CoinJoin transaction and Alice sends 0.187 BTC and Mary sends 1.2222 BTC, and the resulting outputs are exactly 0.8 BTC, 0.187 BTC and 1.2222 BTC respectively, that coincidence is pretty obvious to anyone who is looking.
In order to preserve privacy, a CoinJoin transaction usually splits the amount of bitcoin dispensed into even pieces, say 0.1 bitcoin. So, if Alice put in 0.3 bitcoin, she will receive three 0.1 pieces sent to three separate addresses that she controls.
Most transactions don’t have a bunch of equal outputs like this. That’s why CoinJoins are easy to detect.
Indeed, there have been a few instances of cryptocurrency exchangesbanningusers who have evidently sent their bitcoin through such privacy services.
“They’ll be suspicious. If there’s someone analyzing the blockchain, they’ll see this is a CoinJoin, so they know this person did that. And if they see another transaction, [by comparison] they can see that it’s not a CoinJoin,” Belcher said.
“CoinJoin” and “CoinSwap” have similar names and they both help to preserve privacy, so it’s easy to confuse them. But they’re different, and Belcher argues CoinSwaps “fixes many of the problems of some kinds of CoinJoins” and “is the next step for on-chain bitcoin privacy.”
CoinSwaps can be made to look invisible, Belcher said. If done correctly, a CoinSwap transaction can look just like a vanilla bitcoin transaction.
In a CoinSwap, it looks like two separate people are sending completely separate transactions. But under the hood, something else completely is happening.
Two parties, say Alice and Bob, execute such a swap. In short, Alice sends some bitcoin to a CoinSwap address. Bob sends the same amount of bitcoin to a separate CoinSwap address.
If both send the right amount of money over, the coins are “swapped.” The coins Alice sent to the CoinSwap address are sent to a new address owned by Bob, and the coins Bob sent to his own CoinSwap address are sent to a new address owned by Alice.
Under the hood, the CoinSwap address, which is responsible for this swapping, is much fancier than a normal bitcoin transaction. It’s a multi-signature transaction, meaning it requires more than one person to sign off on it in order to send the transaction. Usually, these types of transactions stand out on the blockchain since they look different from normal bitcoin transactions. But by includingECDSA-2P cryptography, these multi-signature transactions can be made to look just like normal bitcoin transactions. This is very much Belcher’s plan.
With ECDSA-2P in place, “Alice sends a CoinSwap to Bob and it just looks like just a normal transaction. But actually the coins have ended up somewhere else completely,” Belcher said.
This component is important. If all of these transactions look the same, people who aren’t even using CoinSwaps are getting more privacy too. There’s no way to tell if any transaction is a CoinSwap transaction or a normal one, turning bitcoin chain analysis on its head.
Read more:‘Financial Surveillance’ or ‘Blockchain Analysis’? Human Rights Foundation Debates Elliptic
Similar technology will expand to the Lightning Network as well, so blockchain watchers can’t tell if any single transaction is a CoinSwap, a Lightning Network transaction or just a normal bitcoin transaction.
“CoinSwap could be said to allow bitcoins to teleport undetectably to anywhere else on the blockchain,” as a description of the technology on the Bitcoin Wikiputs it. For a deeper explanation, check outthis postfrom JoinMarket developer Adam Gibson.
That’s not to say that CoinSwap is perfect, though. The problem with CoinSwap is that it is a much more complicated process to implement than CoinJoin.
In his mountain of a post, Belcher describes how to turn the idea of CoinSwap into reality.
A key reason CoinSwaps haven’t taken off since Maxwell described them seven years ago is that they’re not as straightforward as CoinJoins. So, Belcher has his work cut out for him in implementing the complexity for the first time.
His first step was just thinking about the best way to do it, outlining a number of different design considerations in the article making up his plan of attack. For one, he plans to use the Rust programming language, since it’s potentially more secure than other languages.
“I want to make it as decentralized as possible, so there’s no central point of failure that can be switched off or censored,” Belcher said. To meet this goal, he wants the “whole thing” to run over the privacy network Tor, which helps to shield IP addresses, which are kind of like a mailing address for a computer exposing where it is located.
“I think that’s quite necessary for privacy,” he said.
Read more:BTCPay Looks to Anonymize Bitcoin Transactions With PayJoin Integration
Belcher outlines this and various other considerations in his proposal, such as routing and using PayJoin, yet another bitcoin privacy technology, alongside it. Now that his ideas are out in the public, people can comment and make suggestions.
The next step is actually implementing it. Belcher told CoinDesk he hopes to release a minimum viable product in the next six months.
Image: “BallesStrob-4” by MathGoulet is licensed underCC BY-ND 2.0.
• CoinSwap and the Ongoing Effort to Make Bitcoin Privacy ‘Invisible’
• CoinSwap and the Ongoing Effort to Make Bitcoin Privacy ‘Invisible’ || How does token burning work and what are the advantages?: Many cryptocurrency projects have adopted an approach called token burning to restrict the supply of their tokens. This may conjure up images of smoke and matches, but no tokens are actually burnt in the process. They are, however, rendered unusable in the future. So, what’s the point of token burning and who does it benefit? Token burning explained When a company decides to burn tokens, it has two options. It can either purchase existing tokens from the market (known as buy-back) or it can choose to take existing currency out of circulation. This could be tokens stored elsewhere such as in a Treasury or team wallet, or it could be unallocated tokens. For example, when OKEx launched OKChain in February of this year, the exchange decided to burn the 700 million unissued OKB tokens to make it a completely deflationary currency and the first fully circulating platform token. To ‘burn’ these tokens, their signatures are sent to a black hole (or “eater”) address. This is an irretrievable public wallet that can be viewed by anyone and the coins’ status is broadcast to the blockchain. #Binance Completes 11th Quarterly $BNB Burn https://t.co/k8WrLWgLhY pic.twitter.com/w0rC02j6ii — Binance (@binance) April 18, 2020 Some companies may burn tokens as a one-off event while others, such as Binance , and OKEx hold quarterly burns . How and why companies burn tokens ultimately depends on what they’re aiming to achieve. One-off burns often occur after a fundraise is completed and tokens are leftover. They could also happen to correct a mistake. Story continues Tether, for example, accidentally created $5 billion in USDT! They had to swiftly burn these tokens so as not to destabilise the 1:1 peg with the US dollar. Regardless of the mechanism, the result is the same: the tokens are removed from circulation and can never be used again. What are the advantages of burning tokens? If asset burning is a common practice, what, apart from correcting an error or removing tokens from circulation, are the benefits of this? To start with, token burning is a deflationary mechanism usually meant to affect the token price. Just as with the Bitcoin Halving, it comes down to the laws of supply and demand. Burning tokens ,like the halving, is restricting the supply. If the demand stays the same or increases, the price will naturally go up. If the demand dwindles, the burning won’t have had much effect. Exchanges like Binance, Huobi , KuCoin, and OKEx periodically burn tokens to incentivise their holder to keep them as they become more valuable. However, while it often affects the price, most trading platforms are actively building up use cases for their tokens and additional benefits for their holders, such as the ability to pay for goods and services online in their exchange token and early access to promising IEOs. $OKB : From Mar 1, 2020 – May 31, 2020, the amount of OKB bought back and burned is 3,509,874.52 🔥 Through buy-back & burn scheme, token economy model, platform-empowered & external use cases, we'll continuously #OKBuild 💪🏻 Learn more: https://t.co/wLVd3yj4WL pic.twitter.com/Ers4vUokGJ — OKEx (@OKEx) June 3, 2020 OKB holders, for example, can access discounted trading fees, just like HT and BNB holders, but they can also participate in offers outside the OKEx platform, such as loans and tourism packages, paid for with OKB. Binance, too, allows BNB holders to use its native token to buy goods and services online and pay travel expenses, among other options. Incentives for traders may not be the only reason for token burning. Some projects, such as Ripple, carry out token burns to add a layer of security and avoid spammed transactions. What about Proof of Burn? Proof of Burn (PoB) is another use that some projects have found for token burning. They have created a consensus mechanism to verify transactions to the blockchain, based on users burning their tokens to gain mining rights. It works by restricting the number of blocks miners that can verify to match with the number of tokens they’ve burnt. This creates virtual mining fields that continue to grow as more tokens are burnt. Existing cash, whether contaminated with the #coronavirus or not, can be converted via a Proof-of-Burn system. Visit https://t.co/rr4Nise42B to begin. Do NOT burn your cash until you have a confirmation code! (A USB-powered lighter is required.) — Luke Dashjr moving2 @lukedashjr@bitcoinhackers.org (@LukeDashjr) April 1, 2020 Just as reducing the token supply, PoB will also reduce the number of miners as there is a need for fewer resources and lower competition. This leads to the obvious problem of centralisation, as too much capacity is given to large miners who can burn vast quantities of tokens at once, greatly affecting the price and supply. To avoid this dilemma, a decay rate is often used which effectively reduces the total capacity of individual miners to verify transactions. In many ways, PoB is similar to ç (PoS) as both mechanisms require miners to lock up their assets to mine. Unlike PoB though, with PoS, stakers can retrieve their coins when they stop mining. The takeaway Token burning can be extremely beneficial for holders and projects alike to reduce inflation and incentivise users to hold. The Proof of Burn mechanism continues to be problematic though, which is probably why this consensus mechanism has gained little traction so far. For more news, guides and cryptocurrency analysis, click here . || Argo Buys $500K Worth of Zcash Miners as Bitcoin Revenue Shrivels: Argo has nearly doubled its mining capacity forzcash, possibly as it looks to diversify frombitcoin.
The publicly listed mining firm has bought 750 Antminer Z11s, which specialize in the Equihash algorithm, for a total of $474,000. The rigs are now already in operation and were working at full capacity, Argo said in afilingat the London Stock Exchange (LSE).
In a statement sent after this article’s publication, Argo CEO Peter Wall said his company was “bullish” on bitcoin and expects “all cryptoassets” to do well over the next six months.
Related:Miners Are Sending Bitcoins to Exchanges Again – And That May Be Bearish
“Argo saw an opportunity to get high-performing machines at an excellent price with a technology we are familiar with. We jumped on it,” he said.
Only a handful of coins use the Equihash algorithm and the largest, by far, is zcash. The acquisition means Argo – whichlistedon the LSE in 2018 – has significantly increased its zcash mining capacity. The new Z11s join the 1,000 rigs the company already owns.
See also:Bitmain Co-Founder Offers Share Buyback at $4B Valuation to End Power Struggle
Argo’s mining power is mostly focused on bitcoin. In May, the firm had a total of 18,000 mining rigs, 17,000 focus of which are focused on the SHA-256 algorithm that is primarily used by bitcoin.
Related:The Zcash Privacy Tech Underlying Ethereum’s Transition to Eth 2.0
But since Argobought its first lotof Z11 miners in May 2019 – in a bid to salvage its stock price after a $5.3 million pre-tax loss in 2018 – it has become one of the largest zcash miners. The company claimed on itswebsiteto make up roughly 3.5% of the network’s mining power.
Assuming total hashrate stays the same, the additional 750 miners means Argo could now constitute something like 6% of the Zcash blockchain.
“[T]he correct strategy is continued investment in mining infrastructure,” said CEO Peter Wall, in a statement. “Argo’s existing fleet of Z11s have performed extremely well, and we are pleased to add more Equihash mining capacity to our fleet of machines.”
Although Bitmain, the Chinese manufacturer of the Z11, has since released a more powerful Equihash miner, Argo claims that they would still get a better return on investment from the older model – which was released in March 2019.
The company estimates to have fully recouped the $474,000 purchase price in about eight months’ time.
See also:Zcash’s First Halving May Solve Its Inflation Problem
Like the rest of the cryptocurrency market, zcash toppled in the wake of the coronavirus pandemic. After riding high at $73 in February, the coin promptly slumped to a three-year-low at sub $24 by the middle of March. It has regained much ground over the past three months, trading at around $53 by the start of the week. Zcash had surged to just under $60 at press time, according to CoinDesk data.
As well as increasing zcash prices, it’s also possible Argo might be diversifying from bitcoin. Earlier this month, thecompany reporteda $600,000 dip in revenue, in part because a slash in the block reward meant it mined around 60 less bitcoin with the same number of machines.
CryptoCompare’smining profitability calculatorshows mining Zcash with a Z11 brought in much greater returns – upwards of $130 each month – compared to bitcoin which, even with the latest S17 rigs, would still mine at a loss of about $90 a month.
CoinDesk approached Argo for comment, but a company spokesperson had not responded by press time.
• Argo Buys $500K Worth of Zcash Miners as Bitcoin Revenue Shrivels
• Argo Buys $500K Worth of Zcash Miners as Bitcoin Revenue Shrivels || The Crypto Daily – The Movers and Shakers – July 8th, 2020: Bitcoin fell by 1.00% on Tuesday. Partially reversing a 2.99% gain from Monday, Bitcoin ended the day at $9,267.5. It was a mixed start to the day for Bitcoin. Bitcoin rose to an early morning intraday high $9,389.4 before hitting reverse. Falling well short of the first major resistance level at $9,475.2, Bitcoin slid to a late intraday low $9,211.1. Steering clear of the first major support level at $9,161.4, Bitcoin moved back through to $9,260 levels to limit the loss on the day. The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Tuesday. Cardano’s ADA jumped by 11.78% to lead the way. Binance Coin (+2.94%), Stellar’s Lumen (+2.76%), and Tezos (+2.71%) also bucked the trend on the day. It was a bearish day for the rest of the majors, however. Bitcoin Cash SV (-4.55%) and Tron’s TRX (-4.80%) led the way down. Bitcoin Cash ABC (-1.28%), EOS (-2.14%), Ethereum (-0.97%), Litecoin (-1.54%), Monero’s XMR (-0.68%) and Ripple’s XRP (-1.93%) also joined Bitcoin in the red. In the current week, the crypto total market cap rose from a Monday low $254.54bn to Tuesday high $267.10bn. At the time of writing, the total market cap stood at $263.81bn. Bitcoin’s dominance fell from a Monday high 65.58% to a Tuesday low 64.30%. At the time of writing, Bitcoin’s dominance stood at 64.58%. This Morning At the time of writing, Bitcoin was down by 0.07% to $9,261.2. A bullish start to the day saw Bitcoin rise to an early morning high $9,278.6 to a low $9,256.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Cardano’s ADA was on the move once more, rising by 1.20%, with BNB up by 0.23% at the time of writing. Story continues It was a bearish start for the rest of the majors, however. At the time of writing, Bitcoin Cash and Tron’s TRX were down by 1.07% and by 2.19% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move through the $9,290 pivot to support a run at the first major resistance level at $9,367.57. Support from the broader market would be needed, however, for Bitcoin to break back through to $9,300 levels. Barring an extended crypto rebound, the first major resistance level and Tuesday’s high $9,389.4 would likely cap any upside. In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,467.63. Failure to move through the $9,290 pivot level would bring the first major support level at $9,189.27 into play. Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,100 levels. The second major resistance level at $9,111.03 would likely limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast – British Pound Breaks Towards Major Level Credit/Investments Turned Into End-User Risk Again European Equities: DAX Set to Open in the Red, with No Stats to Provide Direction Gold Price Prediction – Prices Break Out To 8-Year Highs as US Yields Ease Natural Gas Price Forecast – Natural Gas Markets Continue Breakout Natural Gas Price Prediction – Prices Rise but Fail at Resistance || US Stock Market Enters Parabolic Price Move – Be Prepared, Part II: In the first part of this research article, we briefly discussed the recent price and global economic events related to the 2018 to 2020 US stock market volatility and the COVID-19 virus event. The premise of this research post was to highlight the current upside parabolic price trend that initiated shortly after the 2015~16 US election cycle event. It is almost impossible to look at the NAS100 chart, below, and not see the dramatic upside price advance that took place after the November 2016 US elections. It is almost as if the US stock markets had been primed by Federal Reserve intervention over the previous 5+ years and someone let the monster out of the cage. The deregulation, changes to tax structures and general perception of market opportunity changed almost immediately after the November 2016 elections and really never looked back. BUBBLE PSYCHOLOGY & PROCESS A close friend of mine suggested the current tax structures provide a very clear advantage for corporations which allows them to retain a minimum of 14% more revenue annually. This is a huge advantage for any profitable US corporation when one considers all aspects of tax laws. Additionally, President Trump changed the system from a “global” to a “territorial” structure. (Source: https://en.wikipedia.org ) This provided additional tax reductions for multi-national corporations and prompted US companies to stay within the US. These new tax laws had a major impact on the bottom line after-tax revenues for thousands of US companies over the past 3+ years. Yet, one has to earn a profit to be able to take advantage of these tax law changes and the COVID-19 virus event has put a serious dent in the earning capabilities of thousands of the US and foreign companies. The Redbook YoY data, representing Retail and Consumer Merchandise activity, has continued to post negative levels that appear to be far greater than at any time over the past 20+ years. Story continues How can one rationalize the upward parabolic price trend continuing while the consumer sector, the largest segment of US GDP, has collapsed to levels that are more than double those of the 2008-09 credit crisis? The only answer in our minds is that a euphoric “bubble” has set up in the minds of speculative and foreign traders. This “bubble psychology” takes place when certain factors have been put into place. Typically, these factors include _Displacement: when new technology, process, innovation or product/production capabilities disrupt and displace existing technologies. This creates an opportunity for traders and investors to “shift focus” and creates a new, untested, valuation process for the company or asset. _Credit Creation: when central banks act in a manner to support the credit market, capital investment, and corporate enterprise. This creates the opportunity for new enterprises, businesses, and corporations to “startup” and creates a facility for capital investment from speculators, traders, VCs, and investors. _Euphoria: the feeling that nothing can go wrong. You can invest in almost anything and make money. You could stand on the corner and sell empty cardboard boxes for $400 all day long because something thought they could “flip them” for $800 to the next person that walked by. This euphoria phase is a “self-feeding frenzy” that improperly validates very destructive behavior. In this phase, everyone feels utterly fantastic – until… Now, you have to start asking yourself a few questions at this point in time.. Have we seen any of these phases over the past 10+ years? If so, how far along are we into these phases? Bitcoin was a displacement component that didn’t really start to take off until 2011~2013. After that initial rally, it launched into a euphoric phase with the historic rally to $13,880. WeWork was another displacement component – promising a high-level remote work environment for the Gig/Millennial workers of the world. It built a foundation, found Softbank to back it, rallied to extreme valuations – then what? Hundreds of other displacement companies exist that have yet to deliver any proven profits. Their valuations are incredible and their believers continue to pour more and more capital into them with the expectation that “nothing can go wrong”. All of this reminds me of the Beanie-Baby craze years ago. What next? Financial Distress: when traders and investors begin to pull away from the euphoria and begin to revalue their belief in the ability of the displacement company to really engage in huge revenue creation. When more and more traders and investors begin to move in this direction, suddenly we see a change in how people really value assets and future expectations. The displacement company that everyone loved 5 months ago becomes the distressed company that everyone questions. And this leads to… _Revulsion: when trust in the markets and valuation levels is completely lost to almost everyone. This is what I like to call the “shock-wave” of the bubble. And this revaluation process leads everyone to run for the exits before the last bobblehead on TV suggests “this is only temporary, buy everything and you’ll be really happy in 20+ years – don’t worry”. THE SETUP Our research team believes we are very near to the “financial distress” phase of bubble psychology as a result of the COVID-19 virus event and the disruptions to the financial markets in 2018 and 2019. A number of critical “blips” took place over this time that very few people really paid attention to. _ The revised corporate tax laws created a revenue source for all existing corporations that prompted a massive push for capital to be deployed in the US stock market. That 14%+ extra revenue suggested that everyone would see increased bottom line profits if they could make a profit. _ The Case-Schiller US National Home Price Index has risen almost 70 points since 2013 (just over 7 years ago). The only other time in history the Case-Schiller US National Home Price Index has risen that fast was between 2001 and 2007. Consider that for a moment. _ The US Fed burped up an error in August 2018. This error prompted a change in future guidance from the US Fed from a hawkish Fed to a very dovish Fed. Basically, the markets collapsed on Fed comments and the Fed became more accommodating – almost immediately. _ Speculative investments (both foreign and domestic) pushed to higher and higher levels. Homes flipped. Cars flipped. Everything flipped and traders/investors pour billions into the US technology markets and other sectors because “nothing could go wrong”. Even as we knew the world was upended by geopolitical trade issues, foreign credit collapse events, BREXIT and dozens of other issues near the end of 2019, the US stock market rallied to new highs well into February 2020 – even though we knew the Corona Virus was making its way around the world and could be a complete disaster. Then, the first phase of the financial distress hit – February 24, 2020. That big bad day when the markets suddenly realized “uh oh – this could be bad” and traders/investors throughout the world watched as almost the entire globe “shut down” because of the COVID-19 virus. What does that to the earning capabilities of almost all of the global corporations and businesses? How are they going to be able to sustain revenues to take advantage of those tax breaks when their businesses have collapsed by 40%, 60%, 80%, or more? Is everything going to go back to the euphoric party mode or not? Right now, the Fed has again come to the rescue with more credit and the markets ate it up like cotton-candy covered in gum-drops. Everyone wanted to get back to that euphoric feeling so badly, they jumped into the markets almost as soon as they heard that the US Fed would “intervene” – off we go into parabolic trending. If you are starting to understand what we are attempting to illustrate for you, then you already know how this article ends. The parabolic price trends we’re seeing right now are likely the end stage of a hyper-inflated, credit-fueled price trend. Yes, they could continue to rally much higher from current levels. Or, it could all suddenly come to a stop as Q2 comes to a close and everyone starts to suddenly realize “uh oh – that’s not good”. We’ve been warning our client and followers for almost 10+ months that our super-cycle research suggested the end of 2019 and all of 2020 and 2021 were going to be incredibly volatile periods in the markets. We warned that traders needed to start investing in Gold and Silver back in 2017 and 2018 – to hedge against risks. We issued a Black Swan warning on February 21, 2020 – just days before the markets collapsed as a result of the COVID-19 virus. Now, we’re warning that this current parabolic upside price trend near the end of Q2:2020 could be a massive setup for one of the biggest “revaluation” events we’ve seen since 1999~2000 (the last big bubble). Our researchers believe a shift away from the global financial speculation that has driven a total global asset bubble over the past 8+ years will suddenly shift away from wild speculative euphoria and quickly transition into the realization phase of “uh oh, what have we done”. It is this point that we suddenly enter a financial distress phase where investors flee over-inflated assets to move into risk hedging strategies. Why do you think Gold has rallied to levels near $1800 over the past 4+ years? A certain segment of global investors has already had their “uh oh” moment. The US stock market has gone parabolic because a very unique set of circumstances have come together at this particular time in history. Now, we have to deal with the current and future phases of this cycle and prepare for what’s next. Protect your open long trades and/or take some profits out now. If our research is correct, we have already entered the Financial Distress phase. Q2: 2020 may be the catalyst event and that is only a few days away. Get our Active ETF Swing Trade Signals or if you have any type of retirement account and are looking for signals when to own equities, bonds, or cash, be sure to become a member of my Passive Long-Term ETF Investing Signals which we are about to issue a new signal for subscribers. For a look at all of today’s economic events, check out our economic calendar . Chris Vermeulen Chief Market Strategies Founder of Technical Traders Ltd. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Forecast – Natural Gas Markets Plunge After Bearish Inventory USD/CAD Daily Forecast – Canadian Dollar Remains Under Pressure USD/JPY Price Forecast – US Dollar Slams Into Familiar Price Trump attacks an EU on its Knees. Does the World Need Such a Man Holding the Football? US Stock Market Overview – Stocks Rise Led by Financials; Durable Goods Surge US Stock Market Enters Parabolic Price Move – Be Prepared, Part II || Bitcoin and Cardano’s ADA Weekly Technical Analysis – July 20th, 2020: Bitcoin fell by 0.95% in the week ending 19thJuly. Partially reversing a 2.50% gain from the previous week, Bitcoin ended the week at $9,231.2.
It was a bearish start to the week. Bitcoin fell from a Monday intraweek high $9,350 to a Wednesday intraweek low $9,026.6.
Bitcoin fell through the first major support level at $9,095 before finding support in the 2ndhalf of the week.
3 consecutive days in the green cut the deficit for the week, with Bitcoin recovering to $9,200 levels.
3-days in the red, however, were enough to leave Bitcoin in negative territory for the week.
Bitcoin would need to move back through the $9,200 pivot to bring the first major resistance level at $9,380 into play.
Support from the broader market would be needed for Bitcoin to break back through to $9,300 levels.
Barring an extended crypto rally, the first major resistance level and last week’s high $9,380 would likely cap any upside.
In the event of a breakout, Bitcoin could take a run at $9,500 levels before any pullback. The second major resistance level at $9,526 would likely cap any upside, however.
Failure to move back through the $9,200 pivot would bring support levels into play.
A pullback through to sub-$9,100 levels would bring the first major support level at $9,055 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,879.0. The 23.6% FIB of $8,900 should limit any downside in the week.
At the time of writing, Bitcoin was down by 0.36% to $9,197.9. A mixed start to the week saw Bitcoin rise to an early Monday high $9,238.2 before falling to a low $9,191.2.
Bitcoin left the major support and resistance levels untested at the start of the week.
Cardano’s ADA fell by 2.23% in the week ending 19thJuly. Following a 29.24% rally from the previous week, Cardano’s ADA ended the week at $0.12409.
It was a mixed start to the week. Cardano’s ADA rose to a Monday intraweek high $0.1369 before ending the day in the red.
Falling short of the first major resistance level at $0.1468, Cardano’s ADA slid to a Thursday intraweek low $0.1169.
Steering clear of the first major support level at $0.10116, Cardano’s ADA recovered to $0.12 levels to limit the downside.
4-days in the red that included a 3.49% loss on Thursday and 3.01% fall on Friday delivered the weekly loss. A 6.61% rally on Tuesday limited the downside for the week, however.
Cardano’s ADA would need to move through the $0.1260 pivot to support a run at the first major resistance level at $0.1350.
Support from the broader market would be needed, however, for Cardano’s ADA to break back through to $0.130 levels.
Barring another extended crypto rally, the first major resistance level and last week’s high $0.1369 would likely cap any upside.
In the event of another breakout, the second major resistance level at $0.14596 and $0.15 levels could come into play.
Failure to move through the $0.1260 pivot could see Cardano’s ADA see a 2ndconsecutive week in the red.
A pullback through to sub-$0.12 levels would bring the first major support level at $0.1150 and 23.6% FIB of $0.1125 into play.
Barring an extended broader-market sell-off, however, Cardano’s ADA should steer well clear of sub-$0.010 levels. The second major support level at $0.1060 should limit any downside.
At the time of writing, Cardano’s ADA was down by 0.92% to $0.12294. A bearish start to the week saw Cardano’s ADA fall from an early Monday high $0.12444 to a low $0.12267.
Cardano’s ADA left the major support and resistance levels untested at the start of the week.
Thisarticlewas originally posted on FX Empire
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• GBP/USD Advances But Remains Confined Within 2-Week Range || Is It Possible To Profit From Crypto Trading Without Considering Tax Implications?: Traders buy the dip and sell at the peak. The ultimate premise for profitability. Investors, however, need not apply the golden rule at all times. Different horizons and projections determine divergent optimum investment strategies , due to tax-related purposes. Cryptocurrencies are an interesting investment tool that all investors shall consider, due to its unique tax regime . Let's sum up basic crypto tax fundamentals and taxable events: Cryptocurrencies are classified as property. Cryptocurrencies are considered as capital assets, yielding capital gains, and losses. Taxable events constitute: income derived from earning cryptocurrencies, using crypto as a means of transaction, (purchasing or acquiring goods and services) crypto trading, and exchanging your cryptocurrency for fiat currency. One can infer that transactions and trades are taxable only if there is a realization of capital gains or losses. Depending on the classification of your transactions and trades there are other tax repercussions. Furthermore, diversifying in terms of holding period- that is allocating proportions of your portfolio to different time horizons- increases compliance of year-end profitability objectives. For the purpose of this article, we are not going to inquire about said topics as they can seem confusing; however, there are incredible services that can solve all of your crypto tax-related problems . Rather, let’s look at an example of incorporating crypto taxing analysis in your trading strategy: For instance, if Bitcoin was bought at times of a low Spent Output Profit Ratio (SOPR) coupled with upward pressure on the Glassnode Network Index (GNI), indicating solid on-chain and network fundamentals, as an investor you should consider materializing your profit in the long-term; since tax conditions are more favorable for investments held over a period of one year. Visit Accointing.com for more information and a better understanding. Story continues Let’s consider a different scenario: as a diligent investor, you have established profit targets for the year-end, but due to COVID-19 and the economic deterioration, and an ongoing sideways trend, it seems that your profit targets are not in reach. If you decide to cut losses, avoiding further expenses and risk, and implement a prudent taxing strategy (that is, deciding to liquidate your crypto investments prior to the fiscal year-end) there will be less profit deterioration. Said losses shall be favorable for tax purposes given a decrease of your year-end taxable gains. In the end, it is a matter of understanding short-term and long-term implications and the repercussions it has on your profit objectives. Maintaining a balance between your crypto assets' holding periods is the key to profitability. Depending on your local taxation policies, investment strategy, and time horizon, you may want to hold a greater proportion of your investment for a longer period or vice versa. Photo by Stanislaw Zarychta on Unsplash See more from Benzinga Mid-Afternoon Market Update: U.S. Stocks Turn Higher; Dow Jumps Over 200 Points MJardin Is 'Turning The Corner' As A Cannabis Business, CEO Says JPMorgan Option Trader Bets .3M On Rebound © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin, etherium and other cryptocurrencies surge in popularity although many don't understand the risks: The numbers of people buying highly risky cryptocurrencies such as bitcoin or etherium has surged in the past year, research from the Financial Conduct Authority showed today.
Research showed the numbers of people owning crypto currencies has increased sharply from 1.5 million people in 2019 to 2.6 million now.
Awareness of cryptos increased dramatically due to increased advertising and media coverage; when the sample was polled last year, 58% of respondents did not know what cryptos were compared with just 27% today.
Most people who buy cryptocurrencies such as Bitcoin or etherium are earning well below £100,000, with nearly a third earning less than £30,000, giving the lie to the impression some advertising makes that they are commonly traded by sophisticated investors.
Research from the Financial Conduct Authority found only 9% of crypto owners earned more than £100,000 – far fewer than the 15% who were earning under £20,000.
The FCA study implied that a worrying number of unsophisticated investors cannot afford the losses that often feature in crypto markets and may not understand the risks.
Those who were least likely to understand that bitcoin and other cryptocurrencies were unregulated and therefore unprotected investments were more likely to be from the C2DE social bracket, including manual workers, state pensioners and those unemployed or on benefits.
Overall, typical cryptocurrency owners are:
:: 79% male
::69% over 35
::27% in the C2DE social grade with a lack of any basic understanding about what they were investing in.
However, while the risk to unsophisticated investors appears high, most cryptocurrency owners hold only small sums and are aware of the risks and lack of regulatory protections.
Around 35% of owners had bought in after seeing an advertisement, with that number higher for those who were naïve about the product and more likely to regret having invested.
The study also found most consumers treat them as a gamble rather than an investment, and only 15% regret having bought them.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 11246.35, 11205.89, 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93
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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 2015-09-18]
BTC Price: 232.98, BTC RSI: 46.49
Gold Price: 1138.10, Gold RSI: 58.00
Oil Price: 44.68, Oil RSI: 48.60
[Random Sample of News (last 60 days)]
Retirees Represent Major Marijuana Market: As marijuana legalization spreads across the U.S., the public perception of a marijuana user is slowly changing from a young, unambitious kid to an elderly person with a cup of tea. That's right, marijuana use is becoming more and more common among retirees who say the drug helps them deal with some of the ailments associated with growing older. Forget Florida Retirees have long flocked to states with sunshine and great healthcare in order to live out their golden years, but marijuana legalization is becoming a top priority for many seniors who use the drug to cope with things like chronic pain or insomnia. Oregon has seen an influx of new residents over the past year as its relaxed marijuana laws drew in people who want to get high without worrying about legal consequences. Many dispensaries say at least 50 percent of their clientele is made up of elderly people suffering from varying illnesses and looking for relief. Related Link: California Plans For Pot Expansion Boomers The aging population of baby boomers has also contributed to increased marijuana use among seniors. As that generation lived through the 1960's and 1970's when drug use was common among teenagers, the decision to use marijuana as a retiree is often more comfortable. Pushing For Legalization The growing popularity of medical marijuana among retirees has created a powerful voice in the campaign to legalize marijuana in the U.S. Groups like Grannies for Grass paint marijuana use as a safe, effective way for the elderly to manage their pain in lieu of traditional medicine. Many believe that as more and more retirees adopt medical marijuana, states like Florida with large elderly populations will be pushed to legalize the drug. See more from Benzinga Bitcoin Payments Decline Significantly At Expedia EU In Favor Of Iran Deal Is Social Activism And Marketing A Good Combination? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Costas Inc. Announces New Agreement Regarding Platforms for Digital Currency Transactions: CYPRESS, TX--(Marketwired - Jul 30, 2015) - Costas Inc. ( OTC PINK : CSSI ) today announces the mutual termination and replacement of a previously announced Original Share Exchange Agreement with AuthentaTrade Inc., an Alberta, Canada corporation. The initial agreement, in which Costas would acquire 48% of the shares AuthentaTrade in exchange for 250,000 shares of Costas, has not been completed and has been replaced by an agreement with AuthentaTrade Ltd. (a Republic of Seychelles corporation, "AuthentaTrade Seychelles"). AuthentaTrade Seychelles is currently in negotiations with an Asian based company that brings significant value to their business. Based on the value added in AuthentaTrade Seychelles, Costas has negotiated an increase in shares used as consideration in this new share swap agreement. Details on the letter of intent between AuthenaTrade Seychelles and the Asian based group will be released shortly. Pursuant to the new agreement, Costas will own 48% of the AuthentaTrade Seychelles in exchange for 4,000,000 shares of Costas. The physical share exchange is expected to occur within the next 30 days. In addition, AuthentaTrade Seychelles shall remain liable to pay to Costas USD $200,000 as a debt owning. AuthentaTrade Seychelles is in the business of developing a high security digital currency exchange. Costas believes that the management of digital currencies is a burgeoning market ripe with opportunity. To this accord, AuthentaTrade Seychelles is developing technology to simplify transactions in digital currencies, such as Bitcoin, while specifically addressing security concerns of the broader digital currency market. AuthentaTrade Seychelles' operations in the Province of Alberta will cease, and will now be managed outside of Alberta. Costas advises that it is subject to a cease trade order issued by the Alberta Securities Commission for its jurisdiction of Alberta. Safe Harbor Act Notice: Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. || Cannabis Sativa Inc and THC Farmaceuticals’ Subsidiary, Terpene Research Labs (TRL) to Produce Terpenes Based on CBDS’ Patent Pending Strain: MESQUITE, NV / ACCESSWIRE / September 18, 2015 / Cannabis Sativa Inc ( CBDS ) and THC Farmaceuticals, Inc (CBDG) announced today that they have entered into an agreement for TRL to develop for CBDS terpene based products from CBDS' patent pending stain of Cannabis known as "CTA." As part of the agreement CBDG shall pay CBDS 10,000,000 hempcoins for the non-exclusive right to sell products TRL produces from the CTA strain plus a 5% cash royalty. CBDG will pay 35% royalty to CBDS on all fees or other gross revenues it receives from licensing products for others to produce products using CTA genetics. CBDS shall retain the right to sell the same products under its "Hi" brand (or such other of its brands in its sole discretion) and will pay a 5% royalty to TRL for all products sold using the terpene products developed by TRL. CBDS shall pay a royalty at the rate of 35% of gross revenue to CBDG for all terpene products developed by TRL and licensed by CBDS to other parties. CBDS also transfers to CBDG all rights to the CTA products developed by TRL for distribution outside of North America. CBDS granted CBDG a 3 year option to acquire all of the CTA plant and patent rights outside of North America for an additional 10,000,000 hempcoins. The option begins to run from the time that the first hempcoins are delivered to CBDS. Should this option be exercised, CBDG will then pay a royalty of 3% of gross revenues received from with respect to products produced by or for CBDG or any of its affiliates and 20% on all royalties it receives. The US Commodity Futures Trading Commission ruled yesterday that "[t]he definition of a commodity [being] broad... Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities," the agency has turned our newest earned asset into a commodity. About Terpenes; Terpenes (/ˈtɜrpiːn/) are a large and diverse class of organic compounds, produced by a variety of plants. About Hempcoin : Hempcoins (HMP) is a litecoin type crypo-commodity that can be mined and is backed by shares of $RMTN. See: http://www.hempcoin.com . About CBDS: Cannabis Sativa, Inc. is in the business of branding and licensing via its 'hi' intellectual properties. The Company also offers the Wild Earth Naturals line of CBD Water and cosmetic products which are designed to use organic and natural ingredients, including CBD and hemp seed oil. The Company is engaged through its subsidiaries, Kush and Hi Brands International, Inc., in the research, development and licensing of specialized natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. Story continues This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Contact Information: Investor Relations Mesquite, NV 89027 702-345-4074 http://www.cbds.com SOURCE: Cannabis Sativa, Inc. View comments || IBM Gets Behind Blockchain: While bitcoin and other cryptocurrencies have struggled to find mainstream appeal, blockchain, the ledger like technology that they run on, has been touted as one of the most important technological advancements of the past decade. The system has the ability to facilitate transactions in a way that many say will transform more than just the financial industry. That idea is now being put into practice by tech giant International Business Machines Corp. (NYSE: IBM ), as the company announced that it is working to use the technology to create a "smart contracts" system. Related Link: Buy Some Bitcoin With This ETF Smart Contracts The Wall Street Journal reported that IBM Research Senior Vice President Arvind Krishna said that the firm is working on a way to develop blockchain technology into a system that can facilitate contracts. The system is expected to eventually be released as open-source software and will likely give other big name companies reason to look into using the technology. Improving Business Transactions IBM's smart contracts system won't include the use of cryptocurrencies, but will instead draw on blockchain's ability to track individual transactions but keep the details private. The idea is to allow companies to embed rules into their contracts and allow the blockchain system to enforce them. One example the company is looking into would be a system that automatically pays for goods once they are delivered, however the possibilities for using the technology could reach into several aspects of business operations. See more from Benzinga IBM Uses Tennis To Demonstrate Its Dominance In Data U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules iBusiness, iPrograms: Apple Stretches Its Legs © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Fidelity May Abandon American Express. What's Wrong With AmEx?: This week, Bloomberg reported that Fidelity Investments is considering dropping American Express Company (NYSE: AXP ) to search for new partners. The company may bring Visa Inc (NYSE: V ) or MasterCard Inc (NYSE: MA ) onboard instead, something that traders see as a significant threat to American Express' growth model. A Concern For AmEx? American Express' Global Network Services business represents a major growth catalyst for the company, so being abandoned by Fidelity could be a blow to the firm's future plans. The rumors about Fidelity came shortly after AmEx split from partnerships with Costco Wholesale Corporation (NASDAQ: COST ) and JetBlue Airways Corporation (NASDAQ: JBLU ), a worrying trend for investors. Facilitating transactions is an important part of American Express' business, and many analysts believe that the recent failed partnerships suggest that the company is facing competitive challenges. Related Link: Baird: Mastercard's Growth 'Is A Little Bit Slower,' Next Year 'Should Have Nice Acceleration' Bigger And Better While the break-up rumors are concerning, things aren't all bad for the credit card company. Earlier this year, American Express revealed a new loyalty program that included partnerships with several big name retailers. Companies like AT&T, Inc. (NYSE: ATT ), Macy's, Inc. (NYSE: M ) and Exxon Mobil Corporation (NYSE: XOM ) have signed on to AmEx's latest loyalty program, Plenti. Plenti, though managed by American Express, allows members of the loyalty program to use any purchase, whether it's with an AmEx card or not, at a participating partner toward their loyalty points. Points accrued at one retailer can then be spent at another. What's Next For AmEx? While Plenti represents an opportunity for American Express, many wonder if the loyalty program is enough to offset the company's difficult year. Merchant coalitions like Plenti are generally difficult to manage as they require that none of the participating companies are competitors. That will limit the number of vendors who can participate and could make it difficult for the scheme to grow its customer base. Story continues Image credit: Marcus Quigmire, Wikimedia See more from Benzinga What Effect Does Marijuana Have On Your Brain? Bitcoin To Expand In Iran Another Trading Glitch Underscores The Need For Backup Plans © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Isle Of Man Could Become Most Bitcoin-Friendly Place On Earth: Bitcoin has struggled to make its way into mainstream use for years as merchants, government officials and consumers all worry about security and longevity when it comes to cryptocurrencies.
One way the bitcoin community has been working to make the currency more approachable has been through regulation, though many claim that strict laws governing bitcoin use could take away from the decentralized nature of digital currencies. However, some governments are embracing bitcoin as a revolutionary new technology and working together with the industry to create laws that will promote usage while still allowing the currency to expand. This is especially true in the Isle of Man, which could soon become the most bitcoin-friendly place on earth.
Related Link:Did Barclays Start The Bitcoin Bull Run?
Working Together
The Manx government has beenworking to supportthe bitcoin industry for years. Recently, government officials agreed to amend the island's laws to include bitcoin businesses. By creating transparent laws that cryptocurrency startups must adhere to, the government is hoping that more people will become comfortable using digital currencies.
The straightforward laws protect against money laundering and criminal activity, and give new businesses a blueprint to follow in order to adhere to the region's regulations. Regulators, cryptocurrency industry leaders and government officials have promised to keep an open dialogue regarding the laws in order to ensure that they keep pace with the fast changing fintech landscape.
Blockchain Registry
Perhaps the most surprising step toward bitcoin acceptance on the Isle of Man was the Manx government's decision tocreate a registryfor cryptocurrency businesses using blockchain itself. Together with blockchain startup Pythia, Manx government officials plan to create a database powered by blockchain in which all of the island's cryptocurrency firms will be registered. The decision will make the Isle of Man the first country to use blockchain in order to maintain official data.
See more from Benzinga
• September Rate Hike: Will They Or Won't They?
• Betting On More Than The Game During Football Season
• McDonald's Goes Cage Free In Latest Attempt To Turn Image Around
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Pot-Friendly Candidates Emerge In 2016 Election: Marijuana will play an unprecedented role in the 2016 Presidential race as the drug has never before been regarded by the public in such a favorable light. In previous elections, marijuana was used as a weapon and candidate after candidate denied using, or liking the drug at all. However, this year pot is expected to come up several times on the campaign train, but as an issue rather than a shameful allegation. A Big Issue? It remains to be seen just how important a candidate's stance on marijuana legalization will be when it comes to the election. Most candidates have been vague about their views on the drug, saying that the Obama administration's decision to let states decide for themselves whether or not marijuana should be legalized has provided a good framework to see just how a legal marijuana market will affect the United States. Related Link: How Every Presidential Candidate Wants To Change The Economy Pot Friendly Candidates Ted Cruz and Rand Paul have voiced their support for the marijuana market, saying that it should be each state's right to determine the laws governing marijuana. Paul also became the first candidate to turn to marijuana industry groups for campaign support. Others, like Chris Christie claim they will take a hardline against marijuana and reverse states' decisions to legalize the drug. Unknown Others, like Hillary Clinton, have taken a wishy-washy view— saying that they'd like to see how things go in Colorado and Oregon before making a firm decision or avoiding the issue all together. However, this week, Bernie Sanders appeared to be planning to take a stand on marijuana and many speculate that stand will be pro-legalization. On Tuesday, Sanders spoke out against the war on drugs and promised voters that his campaign would release his marijuana platform in a month. See more from Benzinga Despite Record Profits, Turbulence Ahead For The Airline Industry One Man's Journey Around The World Using Only Bitcoin What The Fed Minutes Could Say About A September Rate Hike © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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." View comments || AXA Interested In Bitcoin's Potential: Paris-based investment banking firm AXA may begin using bitcoin in order to streamline the remittance market. The firm is not the first to see the potential benefits of using cryptocurrencies to send payments around the world, but comments from AXA Strategic Ventures (the bank's $223 million fund) suggest that it could become the first major financial institution to back bitcoin's entry into the remittance market. Worldwide Payments One of the major benefits that cryptocurrency enthusiasts have been quick to point out is the potential that digital currencies have for sending cross border payments. This is especially true when it comes to sending money to countries with an underdeveloped financial sector where much of the population is unbanked. In such regions, the only existing options are money-transfer services like The Western Union Company (NYSE: WU ), which charge a large fee. Sending bitcoin payments would carry a much lesser fee and could provide a new option to expats working abroad and sending money to their families at home. Related Link: Did Barclays Start The Bitcoin Bull Run? AXA In Talks AXA's Minh Q Tran said the company would like to further explore how bitcoin would function in the remittance market and that the firm is currently in talks with bitcoin-based remittance firms that are hoping to break into the industry. So far, AXA has yet to fund any cryptocurrency-related startups, but many expect that will come in the future. Other Uses Much like Barclays (NYSE: BCS ) and Citibank, AXA is also interested in exploring bitcoin's potential in other capacities within the financial space. Blockchain, the ledger-like technology that bitcoin runs on, has been touted as a viable way to facilitate many different transactions, something that several banks are looking into. AXA has said it is interested to learn how blockchain might improve transactions in real estate, intellectual property and insurance. See more from Benzinga IBM Uses Tennis To Demonstrate Its Dominance In Data WeedLife Steps Up To Fill Marijuana Advertising Gap As Consumers Get Smarter, So Do Barcodes © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Betting On More Than The Game During Football Season: On Thursday, the New England Patriots will host the Pittsburgh Steelers for the 2015 NFL Kickoff Game. The game marks the beginning of the National Football League's regular season and despite several high-profile scandals, the league's sponsors are ready and willing to shell out millions to be a part of the 2015-2016 season.
Sponsorship Up
This year the league expectssponsorship revenueto rise to over $1.3 billion; around a 15 percent increase. That figure is supported by the NFL's largest sponsorsVerizon Communications Inc.(NYSE:VZ), which spends around $250 million,PepsiCo(NYSE:PEP) which shells out $200 million, andAnheuser-Busch InBev(NYSE:BUD) andMicrosoft Corporation(NASDAQ:MSFT) which spend around $100 million each to be a part of the season.
Who To Watch?
While big investments mean more exposure to the masses of U.S. football fans, there are several other companies with their fingers in the football jar who stand to benefit.Under Armour Inc(NYSE:UA) is expected to see a boost this year after the company expanded its sponsorship deal with the NFL to provide cleats and gloves on game days. Athletic apparel giantNike Inc(NYSE:NKE) will also benefit from this year's football season as the company hassigned onto be the league's official jersey provider through 2019.
Related Link:NFL, CBS Cater To Viewers Who Are Cutting The Cord
As far as telecoms go, the NFL is likely to bring in big bucks for bothWalt Disney Co(NYSE:DIS) andCBS Corporation(NYSE:CBS). Disney owns ESPN, a premium channel that sports fans around the US subscribe to. Despite a shift toward online streaming, many analysts believe that the channel will be able to continue attracting customers with favorite programs like "Monday Night Football" and new offerings that bridge the gap between online streaming and traditional cable
CBS is also a big winner when it comes to football as the company holds the broadcasting rights for Super Bowl 50 in February. Earlier this year, the company saidadvertisers are willingto pay up to $5 million for a coveted 30-second spot during the big game, a major revenue booster for the telecom.
NFL Struggles To Renew Its Image
However, some investors are cautious ahead of this year's football season as the NFL has been the center of several controversies over the past few months. A survey by YouGov BrandIndex showed that the NFL's brand appeal fell to just 7 from a score of 17 last year. Much of that decline can be associated with accusations of unfair practices between top teams and negative press following players' personal problems.
While the league hasn't shown any signs of slowing down in the wake of several controversial scandals, some believe that big brands associated with the NFL could suffer if the organization doesn't start to crack down on poor behavior.
Image credit: Larry Maurer, Wikimedia
See more from Benzinga
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• Colorado Prepares For Green Wednesday
• Wall Street Joins The Bitcoin Movement
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
#Bitcoin last trade
@bleutrade $249.00
@btcecom $227.00
@cryptsy $240.63
Set #crypto #price #alerts at http://AlertCo.in || LIVE: Profit = $2,058.37 (1.20 %). BUY B622.06 @ $274.00 (#BTCe). SELL @ $275.75 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || http://ift.tt/1Uxdb6L Bitcoin Price Weekly Analysis – 270.00 as Support - newsBTC #Bitcoin || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $720.75 #bitcoin #btc || RT @alvin_hermawan #beritebengan | BDG-JKT | Selasa 8 Agustus 05.00 | via BTC Pasteur-Pancoran-Tebet-Kuningan-Semanggi | 5 seat | share || BTCTurk 721.39 TL BTCe 236 $ CampBx $ BitStamp 239.00 $ Cavirtex 317.61 $ CEXIO 242.49 $ Bitcoin.de 217.28 € #Bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $1.1E-5 per #reddcoin
00:45:01 || Current price: 228.81$ $BTCUSD $btc #bitcoin 2015-09-03 00:00:05 EDT || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $2,215.85 #bitcoin #btc || 1 #bitcoin 681.81 TL, 224.739 $, 201.068 €, GBP, 14943.00 RUR, 28100 ¥, CNH, 302.68 CAD #btc
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Trend: up || Prices: 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14
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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]
Not fully available.
[Random Sample of News (last 60 days)]
How To Invest When El Niño Comes Around: This year, El Niño is forecast to upend weather patterns across the world and wreak havoc farmers, especially in regions where access to irrigation is limited. The weather phenomenon is expected to cut down on rainfall in Australian and Southern Asia and create unusually wet weather in parts of South America. The extreme weather conditions have pushed investors to take a closer look into agriculture investments as the difficult growing conditions could lead to price spikes. Wheat Prices of wheat have seen a bump over the past two weeks after worries that El Niño would dry out wheat-producing regions. In Australia, where 14 percent of the world's wheat exports are grown, dryer than expected weather is forecast to significantly cut down on crop yields. The Teucrium Wheat Fund (NYSE: WEAT ) has seen a 10.58 percent rise over the past month in the wake of the commodity's El Niño concerns. Coffee Many investors are turning to coffee to give their portfolio a jolt, especially since both Vietnam and Indonesia are experiencing unusually dry weather. Both nations produce Robusta coffee, which is used in instant coffee and is very sensitive to reduced rainfall. For that reason, ETFs like iPath Bloomberg Coffee Subindex Total Return SM Index ETN (NYSE: JO ) have become popular plays for El Niño investors. Outside Agriculture While agriculture is the most obvious place El Niño will have an impact, other areas of the market could also feel the pressure of unseasonable weather. When El Niño hits, demand for commodities like crude oil and coal typically increases as thermo and hydroelectric power are more difficult to generate. The metals can also be impacted; in Chile wetter than normal weather could cut down on copper mining. See more from Benzinga Fast Food Gets Even Faster In Asia In Oregon, The Holiday Weekend Was Red, White, Blue And Green Bitcoin Glitch Costs Miners Thousands © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The most elite students in America have had it with investment banking: (flickr/willbeardphoto)Harvard MBA grads are no longer interested in banking.
Harvard Business School graduates are some of the most sought-after new hires in the world.
They're among the top choices for companies in just about every industry — including Wall Street investment banks.
It turns out, however, many of them are no longer interested in that industry.
Only 4% of the 2015 graduating class said they wanted to work at an investment bank, reportsBloomberg's Jennifer Surane.
Of the 46 students in the top 5% of the class, only one expressed an interest in banking, according to the report.
The report cited data froma member of the graduating MBA class, who blogged about the findings of a class survey he received from the university.
This may not come as a surprise.
Entry-level jobs on Wall Street are notoriously grueling: Young people work 90-hour weeks perfecting pitch books, scrolling through spreadsheets, ormaking presentations.
MBA grads, of course, would typically join banks at the associate or vice-president level. But many of them started out their careers as interns and analysts and may not have shaken the memories.
The Harvard blog's author started out in M&A at Morgan Stanley,according to his bio. Now he's running a tech startup as well as a family healthcare business, Bloomberg reported.
Industry veterans, too, know that banking is no longer as sexy.Ex-Credit Suisse managing director Fred Lanessaid: "The opportunities elsewhere ... are more attractive outside of investment banking."
That doesn't mean that bright Harvard MBA-holders are leaving finance altogether.
Many young financiers, after putting in their time at investment banks, make the jump to the "buyside" — hedge funds or private-equity firms.
The Wall Street Journal reported on Wednesday thatmany MBA students are now only interested in becoming activist investorslike Bill Ackman or Carl Icahn.
Ackman's Pershing Square even holds an annual investing competition at Columbia as part of its recruiting efforts.
Ex-Merrill Lynch analyst andFinancial Times writer Sujeet Indap publisheda study on Wednesday on where his banking analyst class from the year 2000 now work.
Over half the class, he found, had taken a break at some point to earn graduate degrees, two-thirds of which were MBAs. More than 40% of the analyst class now work in private equity or in the hedge fund/investment management industry.
Less than 20% still work at investment banks.
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• Bitcoin keeps surging, makes another new high for 2015 || Fund Managers Double Down On Greek Crisis: Despite the fact that Greece and its creditors are dragging the nation's debt negotiations into the weekend, some fund managers say they are moving money into Europe in hopes of a big return. With Athens scheduled to repay its International Monetary Fund loan in just a few days, many worry that Greece is heading for a default, but others say the region is on the upswing despite the ongoing Greek drama. Possibility Of A Grexit? For months, European policy makers have been saying that a Greek exit from the eurozone would not be an option. However, in recent weeks a Grexit has begun to look like a real possibility, and EU officials have acknowledged that. European Commission President Jean-Claude Juncker remarked that although they were working to avoid a Grexit, he couldn't "pull a rabbit out of a hat" to keep it from happening. Related Link: Exclusive: The Grexit And Why "We're About To Witness The Return Of Drachma" Weekend Summit This weekend, EU policymakers are expected to gather in order to try to reach an eleventh-hour deal to release Greece's funding. So far, the nation has been unsuccessful in convincing its creditors that it is serious about reform, especially after Syriza, an anti-austerity political party, was elected into power. Bracing For Default Many now believe that a Grexit is a very real possibility, but fund managers say Europe is ready to weather such an event. As Greece's debt problems have been ongoing for four years, some say that markets will remain calm in the event of a default. For that reason, funds like the Thornburg International Value Fund Class A (MUTF: TGVAX) and RSQ International Equity Fund Investor Class (MUTF: RSQVX) are pouring money into European markets despite the region's uncertainty. Nations like Italy, Spain and Germany are all expected to benefit from the European Central Bank's quantitative easing program, and lower oil prices are likely to help boost the region's GDP in the coming quarters. Many fund managers say that with the Greece issue dragging the region's share markets lower, now is the time to buy. Image Credit: Public Domain See more from Benzinga Debate Deepens On Usage Of Confederate Flag Bitcoin Gaining Momentum...Or Is It? Study Shows Marijuana Is Often Mislabeled © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || In Oregon, The Holiday Weekend Was Red, White, Blue And Green: On Friday, people in Oregon celebrated the state's legalization of recreational marijuana use. The state's more relaxed drug policy went into effect on Wednesday, though retail sales of the stuff isn't set to be allowed until next year. To get around rules barring the sale of recreational marijuana, cannabis enthusiasts organized and event called " Weed the People " on July 3 at which growers, artists, producers and anyone involved in the field could show off and offer samples of their latest offerings. Big Draw The event drew around 1,400 participants who were willing to pay a $40 entrance fee in order to sample the various cannabis-themed products inside. As the state won't accept applications for recreational sales permits until January, pot companies are using events like this one to get their products into the hands of consumers. Growers at the event offered free samples of their strains and artists sold hand-made glass pipes with which to smoke it. Related Link: Get Your Greens: Farm-To-Table Marijuana Shifting Tides The event signaled a shifting tide in the U.S. as more and more consumers call for legalized marijuana. While recreational marijuana is still outlawed in most U.S. states, places like Colorado and Oregon have proven that there is a demand for a recreational marijuana market. Not only has it become a part of mainstream culture, but the marijuana industry is poised to bring in thousands of tax dollars for local governments as it grows. See more from Benzinga Bitcoin Glitch Costs Miners Thousands What Does Greece Do Now? What's Next In Greece: Will Tsipras Stay And Will We See A Grexit? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BTCS Management Cancels Outstanding Options Ahead of Merger: ARLINGTON, VA--(Marketwired - Jul 7, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, announced today that its management team has agreed to voluntarily cancel all 12,450,000 of their options, representing all of the Company's outstanding options, ahead of the Company's anticipated merger with Spondoolies-Tech ("Spondoolies"). Charles Allen, Chief Executive Officer of BTCS, commented, "As we continue to progress in our planned merger with Spondoolies, we see the cancellation of our outstanding options as a strategic move that will afford us the opportunity to create a comprehensive plan post-merger that properly addresses all stakeholders involved. We anticipate adopting a new equity incentive plan that will be structured to support our performance-based culture and align with the interests of our shareholders. During its first year of operation, Spondoolies successfully launched five different hardware products which are widely recognized in their respective categories. Subsequent to its first product launch in March 2014, Spondoolies announced un-audited revenue of more than $28 million for its fiscal year ended December 31, 2014. The pending-merger between Spondoolies and BTCS will leverage the respective expertise of both companies to create a new global leader in the blockchain sector. About BTCS: BTCS is an early mover in the blockchain and digital currency ecosystems and the only "Pure Play" U.S. public company focused on blockchain technologies. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || 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. || A bitcoin start-up has made exchanging currency free: A bitcoin (:BTC=) start-up has launched a service that will allow people to carry out foreign exchange transactions for free, dodging the expensive commission often charged by major financial institutions. Bitreserve, a company founded last year by CNET and salesforce.com co-founder Halsey Minor, allows people to convert bitcoin into normal currencies and precious metals. The start-up used to charge a 0.45 percent commission for bitcoin-to-dollar transactions, but has now cut its fees entirely. The move is likely to give it an edge in the hotly contested "fintech" market where a number of companies such as U.K.-based Transferwise are contesting the currency transfer and mobile payments space. Users of the platform will be able to make currency exchanges in eight major currencies: euros, dollars, pounds, yuan, yen, pesos, rupees, swiss francs. People will also have the ability to convert the currencies into gold, silver, platinum and palladium, depending on the market price. Bitreserve offers the mid-market rate for currencies. "Those in society who can least afford it have to spend so much for things that are so commonplace," Anthony Watson, president and chief operating officer of Bitreserve, told CNBC by phone. "If you look at a Mexican immigrants, they send approximately $30 billion home every year and they pay just under $3 billion for the privilege of sending that money home. That is 10 percent and that is disgusting." Bitreserve's service comes with a catch however - you have to own bitcoin to use the service in order to make an initial deposit and then convert it to another asset. Plus, when users receive money, they can only spend it in bitcoin. This could put it at a disadvantage to other companies that allow people to sign up with bank accounts and send money for still a small commission. One use case of such a technology is remittances, which reached $436 billion in 2014, according to the World Bank. Since its inception in October 2014, Bitrserve has been responsible for $14.5 million worth of transactions globally, according to its website. Story continues But not all experts agree that a free model is sustainable in the currency exchange business. "No business that offers its services for free can do so sustainably over a long period of time without other revenue sources," Stan Stalnaker, board member of the Digital Asset Transfer Authority, a self-regulating body for digital currencies, told CNBC by email. Read More This is why bitcoin won't go away anytime soon "The real question, in an age of free transactions, is about business models - what other products and services can Bitreserve launch that it will charge for, and how successful will that be on the back of very low cost remittances?" Watson said the company was looking to partner with traditional financial institutions to allow people to move the money into traditional bank accounts, as well as retailers so people can buy items using regular currencies. "We are in conversation across the world with not only banks but different financial services providers. We are talking to a myriad of companies. We don't see ourselves as a threat to banks we see ourselves as complimenting what they do," Watson, the former Nike CIO, said. Another use of Bitreserve's technology is to store bitcoin in a stable currency like the U.S. dollar. "A lot of people are putting money on reserve and moving it into currency and moving bitcoin into a stable form of currency. Bticoin bounces around like a jack rabbit," Watson added. A number of companies such as Coincove and ArtaBit are offering similar services, but only allowing people to send bitcoin to converted to one currency. More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central || Block26 Leads Seed Round in Bitcoin Wallet Platform Airbitz With $450,000 Investment: LOS ANGELES, CA--(Marketwired - July 10, 2015) -Block26, the blockchain venture firm, today announced that it has invested $450,000 in Airbitz Inc., a digital wallet platform. Block26 joins Airbitz Board of Directors while leading a $1,250,000 seed round expected to close later this summer. The $450,000 infusion marks the first investment from Block26, led by Co-Founders Ni'coel Stark and Pedram Hasid, in the hot Bitcoin technology space. Airbitz was awarded first place at the 2015 Inside Bitcoin NYC startup competition and was named one of AlwaysOn OnFinance's 50 Companies to Watch in 2015.
Airbitz's decentralized and open source platform solves many of the current usability, security and privacy issues inherent in the current generation of bitcoin wallets. Airbitz is a remarkably easy-to-use and intelligently designed wallet that allows users to receive, store, or send funds with confidence. The digital wallet software is protected by ironclad and effortless security that prevents any third party from accessing user funds or data, including Airbitz itself, and features the world's first one-touch 2-factor authentication.
Available for iOS and Android, Airbitz automatically encrypts, secures and backs up user data without requiring complicated user prompts, and the decentralized server architecture ensures that Airbitz wallets are functional even if company servers are disabled. Altogether, Airbitz provides the familiar feel and functionality of mobile banking while implementing blockchain operations under the hood, reducing friction and making Bitcoin universally approachable and usable. Block26 understands that this same technology has the potential to disrupt arenas beyond digital currency.
Block26 Co-Founder and Managing Principal Ni'coel Stark said, "Block26 is making its first investment in Airbitz because not only is it the best digital wallet for consumers, it is far more than a wallet. Airbitz technology enables a multifaceted financial tool, an extraordinary implementation on edge security, and a whole new contribution to the Internet of Things. Block26 is excited to empower Airbitz solutions in revolutionizing transaction, authentication and security processes."
Airbitz is led by CEO and Co-Founder Paul Puey, a former Nvidia senior engineer and a prominent leader of Bitcoin advocacy in Southern California. The Airbitz leadership team includes CTO and Co-Founder Tim Horton, the former CTO of startup Breadcrumbs Inc.,; VP Design and Co-Founder Damian Cutillo, formerly Co-Founder at Breadcrumbs Inc.; Chief Architect and Co-Founder William Swanson, the core developer of Libbitcoin; and COO Rick "Henri" Chan, Co-Founder of AlphaPoint with 15 years experience at finance and technology firms including Robertson Stephens, Deutsche Bank and UBS Financial Services.
Airbitz CEO and Co-Founder Paul Puey said, "Airbitz is tremendously honored to have Block26 as our partner and lead investor. Their core focus on bitcoin, blockchain, and decentralized technologies is perfectly inline with the DNA of Airbitz founders. Block26 brings incredible experience in building highly tuned team dynamics and they see the value in people, companies, and industries that aren't afraid to disrupt the status quo. We look forward to building a decentralized world with their passion and support at our side."
Airbitz COO Rick "Henri" Chan added, "Block26 is more than an investor to Airbitz; they are an integral partner in our rapid development. We look forward to closely working with Block26 as partners in building a company that thrives as it grows. Block26's unique financial model allows for a flexible investment strategy that could provide Airbitz and other portfolio companies with early stage capital, with the capacity to provide bridge funding as well. For these reasons and many more, we greatly look forward to Block26 joining our Board."
For more information, visit Airbitz atwww.airbitz.coor Block26 atwww.block26.com. || Fearing return to drachma, some Greeks use bitcoin to dodge capital controls: By Jemima Kelly LONDON (Reuters) - There is at least one legal way to get your euros out of Greece these days, to guard against the prospect that they might be devalued into drachmas: convert them into bitcoin. Although absolute figures are hard to come by, Greek interest has surged in the online "cryptocurrency", which is out of the reach of monetary authorities and can be transferred at the touch of a smartphone screen. New customers depositing at least 50 euros with BTCGreece, the only Greece-based bitcoin exchange, open only to Greeks, rose by 400 percent between May and June, according to its founder Thanos Marinos, who put the number at "a few thousand". The average deposit quadrupled to around 700 euros. Using bitcoin could allow Greeks to do one of the things that capital controls were put in place this week to prevent: transfer money out of their bank accounts and, if they wish, out of the country. "When people are trying to move money out of the country and the state is stopping that from taking place, bitcoin is the only way to move any value," said Adam Vaziri, a board member of the UK Digital Currency Association. "There aren't any other options unless you buy diamonds, and that's very difficult to move." But Marinos said the bitcoin buyers' main aim was to shield their money against the prospect that Greece might leave the euro zone and convert all the deposits in Greek banks into a greatly devalued national currency. If voters reject the demands of international creditors in a referendum on Sunday, this becomes much more likely. "A lot of people are keeping all the bitcoins they buy on our platform, until they understand what to do with them," Marinos said. "In their eyes, now they have bitcoins, they're safe." VOLATILE CURRENCY That said, the value of a bitcoin, a web-based digital currency invented six years ago that floats freely and is not backed by a government or central bank, has been highly volatile. It peaked at over $1,200 in late 2013 before crashing almost 70 percent in less than a month after a hacking attack on the Tokyo-based bitcoin exchange Mt. Gox in early 2014. Story continues This week, as Greece defaulted on a debt to the IMF, the price jumped to a 3-1/2-month high of $268 (BTC=BTSP) on the Bitstamp exchange - up more than 20 percent since the start of June - while the number of daily transactions reached a record 150,917. Most bitcoin-watchers reckon the digital currency's rise is mostly due to speculators betting that capital controls would trigger heavy demand. In March-April 2013, when Cyprus clamped down on bank withdrawals, bitcoin rocketed almost 700 percent. Coinbase, one of the world's biggest bitcoin wallet providers, which is not currently accessible to Greeks, said it had seen huge interest from Italy, Spain and Portugal. It said the average daily sign-ups from euro zone countries had increased 350 percent since the start of June. Average daily bitcoin purchases from the euro zone this week were up 250 percent compared with June's average. On June 20, Greece got its first bitcoin "ATM", in a family-run bookstore in Acharnes on the outskirts of Athens. There, if they had them, customers could insert euros and in return receive bitcoin at the current exchange rate, which they would scan into an electronic "wallet" on their smartphones. But with Greeks having to form long queues at bank ATMs just to receive a meager 60 euros' cash a day, this machine has seen no customers since talks with creditors broke down on Saturday. "Before Saturday, there was some very limited interest, mostly customers asking what it does and how it works," said Maria Varila, an employee in the shop. "Since Saturday, however, when all hell broke loose, there has literally been zero interest." (Additional reporting by Lefteris Karagiannopoulos and Dimitrios Michalakis in Athens; Editing by Kevin Liffey) || Will Overstock.com (OSTK) Q2 Earnings Surprise Estimates? - Analyst Blog: Overstock.com Inc.OSTK is slated to report second-quarter 2015 results after the closing bell on Jul 23. Last quarter, the company posted a negative earnings surprise of 45.00%.
Let us see how things are shaping up for this announcement.
Factors to Consider
Overstock’s first-quarter 2015 earnings of 11 cents missed the Zacks Consensus Estimate of 20 cents. Revenues of $398 million, however, beat the consensus mark of $387 million.
In the past quarter, Overstock, a Bitcoin supporter, circulated a proposal among hedge funds, P-E firms, and other probable investors to sell a $25 million private bond using the blockchain. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.
This revolutionary development is part of the company's larger cryptofinance initiative known as Medici.
Nevertheless, Overstock shares lost 5.43% over the last three months. According to Seeking Alpha, numerous hedge funds exited their positions in the shares of the company in their latest filings. Along with this, seven funds reduced their positions.
Overstock also expanded its operations into China. The company will ship products from a warehouse situated just outside Shanghai. It has partnered with China's second largest online retail store, JD.com JD.
Earnings Whispers
Our proven model does not conclusively show that Overstock will beat earnings estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below.
Zacks ESP:Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 13 cents. Hence, the difference is 0.00%.
Zacks Rank:Overstock’s Zacks Rank #3 when combined with 0.00% ESP makes surprise prediction difficult.
We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
PetMed Express, Inc. PETS, with an Earnings ESP of +3.57% and a Zacks Rank #1
Apple Inc. AAPL, with an Earnings ESP of +2.78% and a Zacks Rank #2
Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPETMED EXPRESS (PETS): Free Stock Analysis ReportAPPLE INC (AAPL): Free Stock Analysis ReportOVERSTOCK.COM (OSTK): Free Stock Analysis ReportJD.COM INC-ADR (JD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 255.39€ $BTCEUR $btc #bitcoin 2015-08-01 11:00:04 CEST || Current price: 155.43£ $BTCGBP $btc #bitcoin 2015-06-20 09:00:04 BST || buysellbitco.in #bitcoin price in INR, Buy : 16085.00 INR Sell : 15585.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 177.22£ $BTCGBP $btc #bitcoin 2015-07-22 04:00:06 BST || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.14 and $2,166.00 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 17338.00 INR Sell : 16807.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 281.1$ $BTCUSD $btc #bitcoin 2015-08-03 21:00:04 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000006
Average $1.5E-5 per #reddcoin
01:00:01 || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $1,540.93 #bitcoin #btc || BTCTurk 663.5 TL BTCe $ CampBx $ BitStamp 242.50 $ Cavirtex 297.61 $ CEXIO 244.96 $ Bitcoin.de 217.00 € #Bitcoin #btc
|
Trend: down || Prices: 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-06-27]
BTC Price: 11182.81, BTC RSI: 63.19
Gold Price: 1408.40, Gold RSI: 79.13
Oil Price: 59.43, Oil RSI: 61.51
[Random Sample of News (last 60 days)]
Watch CoinDesk LIVE: Bitcoin in FLUX: Bitcoinis in motion today and no one knows if we are watching a bull market or a blip. Join CoinDesk editors for an all-day live session of in-depth market discussion.
Image via Shutterstock.
• Bitcoin Price Takes Another Tumble, Shedding Nearly $1,000 in 20 Minutes
• Bitcoin Drops Below $12K After Biggest Daily Price Move Since January 2018
• Bitcoin Price Gains for 8th Straight Session, Extending 2019’s Longest Streak
• Coinbase Hit With Outage As Bitcoin Price Drops $1.8K in 15 Minutes || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/06/19: Bitcoin Cash ABC rose by 4.15% on Friday. Partially reversing a 7.79% slide from Thursday, Bitcoin Cash ABC ended the day at $441.62.
A relatively range-bound morning saw Bitcoin Cash ABC fall from a morning high $429.75 to an intraday low $412.25.
Steering well clear of the first major support level at $388.91, Bitcoin Cash ABC rallied to a late intraday high $444.00.
In spite of the afternoon rally, Bitcoin Cash ABC fell short of the first major resistance level at $469.02.
For the month of May, Bitcoin Cash ABC surged by 67.3%.
At the time of writing, Bitcoin Cash ABC was up by 1.11% to $446.53. A positive start to the day saw Bitcoin Cash ABC rise from a morning low $441.89 to a high $446.53.
In spite of the bullish start to the day, Bitcoin Cash ABC fell short of the first major resistance level at $453 early on.
For the day ahead, a hold onto $440 levels through the morning would support a run at the first major resistance level at $453.
Support from the broader market would be needed, however, for Bitcoin Cash ABC to breakout from $445 levels on the day.
In the event of a broad-based crypto rally, the second major resistance level at $464.37 could come into play before any pullback.
Failure to hold onto $440 levels could see Bitcoin Cash ABC struggle through the day. A fall through $432 levels would bring the first major support level at $421.25 into play.
Barring a broad-based crypto sell-off, Bitcoin Cash ABC will likely avoid sub-$420 levels on the day.
Litecoin gained 5.97% on Friday. Reversing a 6.34% fall from Thursday, Litecoin ended the day at $114.47.
A mixed start to the day saw Litecoin fall from a morning high $109.49 to a mid-morning intraday low $104.47.
Steering clear of the first major support level at $99.43, Litecoin rallied through the afternoon to a late intraday high $114.8.
In spite of the afternoon recovery, Litecoin left the first major resistance level at $118.73 untested on the day.
For the month of May, Litecoin gained 55.7%.
At the time of writing, Litecoin was up by 0.61% to $115.17. A mixed start to the day saw Litecoin rise from a morning low $113.31 to a high $116.11 before easing back.
Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through to $116 levels would support a run at the first major resistance level at $118.02.
Support from the broader market would be needed, however, for Litecoin to breakout from $116 levels.
Barring a broad-based crypto rally, Litecoin will likely come up short of $120 levels on the day.
Failure to move back through to $116 levels could see Litecoin hit reverse. A pullback through the morning low $113.31 would bring the first major support level at $107.69 into play.
Barring a crypto meltdown, Litecoin would likely steer well clear of the second major support level at $100.92.
Ripple’s XRP rose by 4.52% on Friday. Reversing most of a 5.97% slide from Thursday, Ripple’s XRP ended the day at $0.43754.
Tracking the broader market, Ripple’s XRP fell to a mid-morning intraday low $0.4070 before finding support.
Steering clear of the first major support level at $0.3875, Ripple’s XRP rallied to a late intraday high $0.43914.
Ripple’s XRP fell short of the first major resistance level at $0.4623 on the day, while holding onto $0.43 levels at the day end.
For the month, Ripple’s XRP gained 34.7%.
At the time of writing, Ripple’s XRP was down by 0.08% to $0.43730. A mixed start to the day saw Ripple’s XRP rise from a morning low $0.43199 to a high $0.44093 before easing back.
Ripple’s XRP left the major support and resistance levels untested in the early hours.
For the day ahead, a move back through to $0.44 levels would support a run at the first major resistance level at $0.4488.
Ripple’s XRP would need support from the broader market, however, to break out from $0.4410 levels.
Barring a broad-based crypto rally, Ripple’s XRP would likely come up short of $0.45 levels on the day.
Failure to move back through to $0.44 levels could see Ripple’s XRP struggle through the day. A pullback through the morning low $0.43199 would bring the first major support level at $0.4167 into play.
Barring a broad-based crypto sell-off, Ripple’s XRP would likely steer clear of sub-$0.41 levels on the day.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
• Natural Gas Price Forecast – Natural gas markets break down on Friday
• Gold Price Forecast – Gold markets break out
• USD/JPY Price Forecast – US dollar breaks down against yen
• GBP/JPY Weekly Price Forecast – British pound breaks support
• EUR/USD Price Forecast – Euro rallies significantly on Friday
• Weekly Wrap – Stats and Trade Round off a Dire Month || Natural Gas Price Fundamental Daily Forecast – Nothing in Weather Forecast to Jumpstart Rally: Natural gas price are inching higher shortly before the regular session opening on Friday after falling apart the previous session following a bearish storage report that blew away the estimates. Thursday’s sell-off delivered a crushing blow to the bulls who were hoping a steady report would jumpstart a rally while they waited for the emergence of a heat wave at the end of June/early July.
At 10:05 GMT,August natural gasfutures are trading $2.176, up $0.010 or +0.46%.
Falling spot prices were also a drag on futures prices, but the biggest bearish influence was the huge miss on storage. The weekly government report delivered results that came in at least 10 Bcf higher than most analysts had expected.
The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 115 billion cubic feet (Bcf) for the week-ended June 14.
Bloomberg estimated an injection range between 96 Bcf and 113 Bcf, and a median of 105 Bcf. Reuters forecast a range of 96 Bcf to 115 Bcf, with a median of 105 Bcf. Natural Gas Intelligence predicted a build of 105 Bcf.
Last year, the EIA report showed a 95 Bcf injection, while the five-year average injections stands at 84 Bcf.
Total stocks now stand at 2.203 trillion cubic feet (Tcf), up 209 Bcf from a year ago, but 199 Bcf below the five-year average, the government said.
According to NatGasWeather for June 20 to June 26, “Several weak weather systems continue to produce showers and thunderstorms across the country, focused over the most comfortable across the northern and interior US with highs of 70s and 80s. It remains hot around the periphery with highs of 90s to 100s across California and the Southwest. 80s to 90s across Texas, the South, Southeast, and up the Mid-Atlantic Coast. The weekend will bring cooling across the Northwest & Rockies, while next week will bring increasing heat across the southern 2/3 of the US with 90s and 100s. Overall, demand will be increasing to moderate this weekend and next week.”
The pattern of consolidation then weakness is likely to continue over the near-term until there is a forecast calling for a lingering heat dome. Periodic bouts of scattered pockets of hot temperatures will not be enough to trigger a lasting rally. Oversold technical conditions could produce a short-covering rally, but this type of move is only expected to set-up fresh shorting opportunities.
Thisarticlewas originally posted on FX Empire
• UK Credit Impulse Contracts for Seven Consecutive Quarters
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/06/19
• The Week Ahead: The G20, the Middle East and Stats in Focus
• Forex Daily Recap – US Dollar Index Descended to a Three-Month Bottom
• Gold Price Futures (GC) Technical Analysis – Buy Strength or Play for Pullback into Value Area?
• AUD/USD and NZD/USD Fundamental Weekly Forecast – RBNZ to Leave Rates Unchanged in July, Next Cut in August || Computer Researcher Finds Wallet Vulnerability That Gave Same Key to Multiple Users: Onlinecryptocurrencypaper walletcreator WalletGenerator.net previously ran on code that causedprivate key/public key pairs to be issued to multiple users. The vulnerability was described in an official blogpostby security research Harry Denley of MyCrypto on May 24.
According to the post, the bad code was in effect by August 2018, and was only recently patched out as of May 23. The live code on the website is reportedly supposed to be open source and audited onGitHub, but there were differences detected between the two. After researching the live code, Denley concluded that the keys were deterministically generated on the live version of the website, not randomly.
In one of MyCrypto’s tests between May 18–23, they attempted to use the website’s bulk generator to make 1,000 keys. The GitHub version returned 1,000 unique keys, but the live code returned 120 keys. Running the bulk generator always reportedly returned 120 unique keys instead of 1,000 even when other factors were tweaked, including browser refreshes, VPN changes, or user changes.
Randomness is needed to generate the key pairings in order for the paper wallets to be secure. As the post puts it:
“ELI5: When generating a key, you take a super-random number, turn it into the private key, and turn that into the public key / address. However, if the ‘super-random' number is always ‘5,’ the private key that is generated will always be the same. This is why it’s so important that the super-random number is actually random…not ‘5.’”
WalletGenerator patched the determinism problem after MyCrypto reached out during the middle of its investigation. WalletGenerator purportedly responded afterward saying that the allegations could not be verified, and even asked the correspondent if MyCrypto was a “phishing website.”
MyCrypto added that users who generated keypairs after August 17, 2018 should immediately move their funds to a different wallet and recommended not to use WalletGenerator.net.
As previouslyreportedby Cointelegraph, a so-called “blockchainbandit” made off with around 45,000 ether (ETH) by guessing weak private keys on the Ethereum blockchain.
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• China’s Latest Crypto Rankings: EOS Retains Top Spot, Bitcoin in 12th Place || Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 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.
The bull market of 2017 followed by the bust in 2018 increased the popularity of cryptocurrencies.89%of Americans have heard of Bitcoin, up from 77% in October 2017, according to a new survey by Spencer Bogart of Blockchain Capital. Another encouraging sign is that every age group has been purchasing Bitcoin. The survey shows that even 2% of retirees own Bitcoin.
The executives of traditionalfinancialinstitutions are increasinglyjoiningthe blockchain and crypto bandwagon. Even the large finance companies are looking at ways to introduce and improve cryptoservicesfor institutional investors.
A report by research firm Gartner Inc shows that20%of the top 10 grocers across the world will use blockchain by 2025. This shows the scale of growth in just a few years. The recent recovery is pointing to an end of the bear market. Most major cryptocurrencies are unlikely to drop to their lows. But are they showing any buy setups? Let’s find out.
The bulls have been defending the 20-day EMA for the past few days, but have been unable to propel Bitcoin (BTC) higher. This shows a lack of demand at higher levels as the digital currency nears the stiff resistance zone of $5,600–$59,00. However, both the moving averages are trending up, which suggests that the bulls still hold the advantage. Above $5,400, the bulls will again try to carry the price to the overhead resistance zone.
We do not expect theBTC/USDpair to scale above the resistance zone at the first instance. A few days of consolidation or a minor correction from $5,900 is likely.
The RSI is forming a bearish divergence, which is a negative sign. If the pair turns around and dives below the 20-day EMA, it can fall to $4,914.11. A breakdown of the $4,914.11 and the 50-day SMA support zone will dampen sentiment and shift the advantage in favor of the bears. We suggest traders trail the stops on the remaininglongpositions to $5,100 and protect paper profits.
Ethereum (ETH) has held the 50-day SMA. The subsequent bounce has carried it above the 20-day EMA and the overhead resistance at $167.20. However, it is facing resistance at the downtrend line.
Both the moving averages are flattening out and the RSI is close to the midpoint. This suggests a consolidation for the next few days.
This view will be invalidated if theETH/USDpair breaks out of the downtrend line. It can then rise to $180, followed by a rally to $190.54. Above this level, it is likely to pick up momentum and head towards $225 and above it to $256. The pair will turn negative if it breaks below the recent lows of $148.03. We will wait for the price to sustain above the downtrend line before proposing a trade in it.
Ripple (XRP) is currently range bound between $0.27795 and $0.33108. The bounce on April 30 could not scale the 20-day EMA. This is a negative sign.
The bears will now try to sink the price back towards the low of $0.27795. A break of this level will revisit the yearly low of $0.24508. While the other cryptocurrencies are showing life and have moved further away from their lows, theXRP/USDpair is struggling to move up.
The pair will signal strength after it breaks out and sustains above $0.33108. It will pick up momentum above $0.38. We will wait for a bullish setup to form before suggesting a trade in it.
Bitcoin Cash (BCH) rebounded sharply from the support at 50-day SMA on April 30 and climbed above the overhead resistance of $255. It is currently facing resistance at the 20-day EMA.
The 20-day EMA is flattening out and the RSI has also risen close to 50. This suggests that the pair might remain range bound for a few days. While the lower boundary might be $227.70, the upper boundary is yet to be established.
Our view will be invalidated if theBCH/USDpair turns down from the current levels and drops below $227.70. On the upside, the pair will face resistance at $335.62 and above it at $363.30.
Litecoin (LTC) reversed direction on April 30 and broke out of the descending channel and the 50-day SMA. It, however, is facing resistance at $74.6054. The 20-day EMA is also located close by, hence, we anticipate a stiff opposition by the bears at this level.
With the 20-day EMA flattening out and the RSI close to 50, we expect theLTC/USDpair to remain range bound for a few days.
Our neutral view will be invalidated if the pair turns down from the current levels and slips back into the channel. On the other hand, a breakout above $74.6054 will push the price towards $84.3439 and above it to $91.
EOSbounced off the 50-day SMA on April 30. It is currently at the downtrend line, which is likely to offer resistance. The 20-day EMA is flattening out and the RSI is close to the center. This points to a probable consolidation in the short term.
However, if theEOS/USDpair climbs above the downtrend line, it will become positive. The target levels to watch on the upside are $5.6163 and above it $6.0726. A breakout of this will propel the pair to the stiff resistance of $6.8299.
This bullish view will be negated if the price turns down from the current levels and plummets below the uptrend line of the rising wedge.
Binance Coin (BNB) has been trading just above the 20-day EMA for the past few days. Both the moving averages continue to trend up and the RSI is maintaining in the positive zone. This shows that the bulls still have the upper hand.
However, the failure to push the price higher shows that theBNB/USDpair is not finding buying support at higher levels. But the traders holding long positions are not booking profits either, due to which the pair continues to trade close to the recent highs.
The first indication of selling will be when the digital currency slides and sustains below the 20-day EMA. A deeper correction will ensue if the bears sink the price below the 50-day SMA. Until then, every dip is likely to be purchased. Though we are bullish, we do not spot a reliable buy setup, hence, we are not suggesting a trade in it.
Though the bears broke down the uptrend line twice, they could not capitalize on the advantage. This shows buying at lower levels. The bulls have pushed the price close to the downtrend line, which is a positive sign. Stellar (XLM) is currently facing resistance at the 20-day EMA, above which a rally to $0.12039489 is possible.
Contrary to our assumption, if theXLM/USDpair turns down from the 20-day EMA, the bears will try to break down of the uptrend line once again. If the price sustains below this level, it will complete a rising wedge pattern that can drag the price lower to $0.08.
Both the moving averages have flattened out and the RSI is just below the midpoint. This suggests a range bound action for the next few days.
Cardano (ADA) has pulled back to the moving averages. We expect it to face stiff resistance at this level, as the downtrend line is also located just above it. If the price turns down from the current levels, it can drop to $0.063230. A break of this level will turn the tables in favor of the bears.
Conversely, if theADA/USDpair breaks out of the downtrend line, it can rally to $0.082952 and above it to $0.094256. If the pair fails to break out of this resistance zone, it might enter into a consolidation.
On the other hand, a breakout of $0.094256 will be a positive move. We will wait for the cryptocurrency to climb and sustain above $0.094256 before suggesting a trade in it.
Tron (TRX) continues to trade in the range. After bouncing off $0.02094452, it has been clinging to the moving averages for the past few days. This increases the probability of a breakout and rally to the next overhead resistance of $0.02815521.
TheTRX/USDpair has been consolidating for almost nine months. Previous attempts to break out of the range failed to attract buyers at higher levels. However, such a long accumulation is a positive sign. Once the pair breaks out and sustains above $0.02815521, it is likely to start a new uptrend. The longer the consolidation, the stronger the eventual breakout.
Traders can buy 50% of their desired allocation on a breakout and close (UTC time frame) above $0.02815521 and wait for a close above $0.03278079 to buy the rest. The initial stop loss can be kept at $0.021, which can be raised later.
Our bullish view will be invalidated if the digital currency turns down from the current levels and plummets below $0.02094452. In such a case a fall to the critical support of $0.0183 is probable.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
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• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 22 || A Big Holding in the Lithium ETF is Forecasting Robust Demand: This article was originally published on ETFTrends.com. Chiles Chemical and Mining Society (SQM), the world's second-largest lithium producer and a major holding in the Global X Lithium & Battery Tech ETF ( LIT ) , an exchange traded fund dedicated to companies in the lithium supply cycle, is forecasting strong demand for the raw material. LIT, which is nearly nine years old, tracks the Solactive Global Lithium Index. One of the oldest thematic ETFs, LIT is designed to provide exposure to the full lithium cycle, from mining and refining the metal, through battery production, according to Global X . Chemical and Mining Society expects demand for key component in the batteries that power electric vehicles and cell phones to grow at double-digit rates this year, reports Mining.com . Shares of SQM are LIT's second-largest holding at a weight of 10.23%. Strong Forecast for Lithium Lithium-ion battery capacity is vital because one of the primary factors car buyers consider when evaluating electric vehicles is how long those vehicles can run on a single charge. Bolstering the long-term case for LIT is that global automotive industry observers believe electric vehicles will reach comparable price points to traditional internal combustion engine vehicles sometime in the next several years, making it more compelling for drivers to make the switch to electric vehicles. SQM believes lithium consumption could grow about 17% in 2019 to at least 315,000 tonnes, compared to the less than 260,000 tonnes it totalled last year, according to Mining.com. Electric vehicles are in the early innings of development and there are signs that there is a lot of pent up demand among consumers whom want to embrace the technology. In 2017, electric vehicle sales represented 1.7% of all vehicle sales globally, exceeding 1 million for the first time and rising 51% year-over-year. The rate could continue to accelerate as a result of EVs becoming more economical than gas-powered cars and as a result of a pro-climate regulatory changes pushing to ban gas-powered cars. Story continues The company expects to produce 60,000 tonnes of lithium this year, with sales volumes reaching between 45,000 and 50,000 tonnes, reports Mining.com. By 2020, SQM predicts that sales volumes would jump 30% over 2019, reaching approximately 65,000 tonnes. For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Kevin OLeary: Motherly Advice I Will Never Forget Marijuana ETF YOLO Looks Toward A Budding Future Vans, Nike Among 170 Footwear Companies Concerned About Tariffs Bitcoin, Stablecoin, Blockchain, Enterprise Ledger
WTF? So Many Retirement Idiots READ MORE AT ETFTRENDS.COM > || Fundstrat’s Tom Lee: Bitcoin Is Easily Going to Reach New Highs: Fundstrat Global Advisors co-founderTom Leesaid that bitcoin (BTC) could easily reach new highs during an interview withCNBCpublished on June 18.
In his comments, Lee said that bitcoin is becoming the reserve currency of the cryptocurrency space, and noted that it has been worth over the $9,000 price level in only 4% of its history. Then, he declared:
“I think bitcoin is easily going to take out its all-time highs.”
Before making those pricepredictions, Lee also noted thatFacebook’sLibra project is a validation of mainstream interest in cryptocurrencies. He also stated that he thinks this development “completely destroys this argument that says ‘I believe in blockchain, not bitcoin.” He also expressed his idea that — while he believes libra is going to be one of the dominantstablecoins— other stablecoins will most likely survive:
“I don’t think that they are gonna drop in value because most of them are collateralized, I think the ones that are algorithmically stable just might not have the network effect.”
When asked whether banks will support libra in the future, Lee noted that the decentralization of finance — while convenient for payment processors — results in a negative return forbanks:
“One thing to keep in mind: Facebook’s annual revenue per user is probably $50 [...] that may be a little high. But an average bank generates close to $1,000 per user, so Facebook has a 20x upside to their customer model if they start doingbankingservices. [...] I can see why banks aren’t really enthusiastic about this.”
Earlier today, the head of theUnited Kingdom’scentral banksaidFacebook’s new libracryptocurrencycould have genuine use cases if it can conform to regulatory demands.
As Cointelegraphreportedat the time, Lee had claimed in May that thecryptowinter is over.
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• KuCoin Lists Binance Coin, Supports Binance Chain Projects || Kadena Blockchain to Launch This October With $3 Billion Asset Manager Onboard: Brooklyn-based startup Kadena will launch a public blockchain this October, the company announced Monday at CoinDesk’s Consensus 2019 conference in New York.
Founded in 2016, Kadena raised over$14 millionlast year to develop a new proof-of-work (PoW) blockchain network called Chainweb that would seek to offer users high transaction volumes without slowing down network speed and ramping up network cost for users.
Speaking to CoinDesk, CEO of Kadena Will Martino, said:
Microsoft Makes JPMorgan’s Quorum the Preferred Blockchain for Azure Cloud
Chainweb’s protocol, the company said, links multiple blockchain networks to run concurrently and split up large computation loads. As previouslyreported, these different chains share information through Merkle roots to achieve cross-chain consensus.
Chainweb design. Courtesy of Kadena.
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The envisioned goal of Chainweb is to produce roughly1,000 different blockchainsand reach networks speed of up to 10,000 transactions per second.
According to Kadena CEO Will Martino, Chainweb has been running on a test network since March. Later this summer in May, the test network will be opened up to preliminary users.
“We have a mining queue that we will slowly begin on-boarding to test the user experience and the process of hooking up to the network,” said Martino to CoinDesk.
Martino stressed that miners would not be earning tokens ahead of their market release by engaging in the preliminary test network. Today’s press release notes that miners will strictly “get to learn how Chainweb works and collaborate with our team to scale the network.”
Along with today’s announcement, the team at Kadena further revealed a partnership with commodities and alternative investment products provider USCF Investments, a manager of approximately $3 billion in assets.
John Love, president and CEO of USCF, told CoinDesk:
“One of the things that attracted us to Kadena was their expertise beyond just blockchain and fintech including…regulatory understanding. To our business, this [partnership] wasn’t something coming from left field. This collaboration makes a lot of sense to tie our respective areas of expertise together.”
As Martino put, the two will be working together to build “the next generation of fintech” by leveraging Kadena products like Chainweb.
“The key is that USCF brings this history of innovating in financial markets and a vision for how a new technology [like blockchain] could fundamentally advance how these systems and these products are built [in fintech],” said Martino to CoinDesk.
Team photo courtesy of Kadena
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• ING Bank Is Bringing Bitcoin ‘Bulletproofs’ to Private Blockchains || Retail ETF ‘XRT’ Could Be on Red Tag Sale Status: This article was originally published on ETFTrends.com. With the first quarter of 2019 behind us, it’s easy to forget the retail sector since the holidays are a distant memory, but last month's rally in the sector is a reminder to investors that they should consider adding retail-focused ETFs to their portfolios. While strength in the retail sector piggybacks off of strong consumer spending, there has been a lot of movement within the sector that could make for some interesting ETF plays like SPDR S&P Retail ETF ( XRT ) . The U.S.-China trade wars have hit retail ETFs as of late, however, with XRT falling 7 percent in May. Last month, XRT was one of the most-shorted ETFs and its recent downturn is no doubt attracting more bears to the fund. “Big box retailers are getting unloved in a big way and we’re going to continue to see more of this, especially if this market gets higher, the question is ‘Can these companies continue to bring profitability?'” said ETF Trends CEO Tom Lydon. For investors looking to get into XRT on the cheap, now might be an opportune time to do so as the tariff-for-tariff battle between China and the U.S. are putting many of the fund's holdings in a bind. With their revenues affected by the higher tariffs, bearish plays could also be abound, but for the more optimistic, buying on the dip is also an alternative. XRT seeks to provide investment results that correspond generally to the total return performance of an index derived from the retail segment of a U.S. total market composite index. The index represents the retail segment of the S&P Total Market Index. Thus far, the fund is up 11.78 percent year-to-date, which lags behind the S&P 500's 13 percent. It's still a stark contrast compared to the loss of 8 percent it experienced in 2018. Key features of the fund: Seeks to provide exposure the retail segment of the S&P TMI, which comprises the following sub-industries: Apparel Retail, Automotive Retail, Computer & Electronic Retail, Department Stores, Drug Retail, Food Retailers, General Merchandise Stores, Hypermarkets & Super Centers, Internet & Direct Marketing Retail, and Specialty Stores Seeks to track a modified equal weighted index which provides the potential for unconcentrated industry exposure across large, mid and small cap stocks Allows investors to take strategic or tactical positions at a more targeted level than traditional sector based investing Story continues The retail space will certainly present a challenge for brick-and-mortar companies as Amazon leads the "bricks to clicks" movement towards the online retail marketplace. Last month, ETFs with the heaviest weighting of Amazon moved higher after the online retail giant topped earnings expectations. Amazon’s earnings results: EPS: $7.09 versus $4.72, according to analysts surveyed by Refinitiv Revenue: $59.7 billion versus $59.7 billion, according to Refinitiv AWS: $7.7 billion versus $7.7 billion, according to analysts surveyed by FactSet Aside from XRT, investors can also consider the following ETFs: Fidelity MSCI Consumer Discretionary Index ETF (FDIS) : seeks to provide investment returns that correspond generally to the performance of the MSCI USA IMI Consumer Discretionary Index. The index represents the performance of the consumer discretionary sector in the U.S. equity market. Consumer Discret Sel Sect SPDR ETF ( XLY ) : seeks investment results that correspond to the price and yield performance of publicly traded equity securities of companies in the Consumer Discretionary Select Sector Index. The index includes securities of companies from the following industries: retail; hotels, restaurants and leisure; textiles, apparel and luxury goods; household durables; automobiles; auto components; distributors; leisure products; and diversified consumer services. ProShares Online Retail ETF ( ONLN ) : seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index. The index tracks retailers that principally sell online or through other non-store channels. The index uses a modified market-capitalization weighted approach, is rebalanced monthly and is reconstituted annually. Retailers may include U.S. and non-U.S. companies. To be eligible, retailers must: be classified as an online retailer, an e-commerce retailer, or an internet or direct marketing retailer, according to standard industry classification systems; have a market capitalization of at least $500 million; have a six-month daily average value traded of at least $1 million; and meet other requirements. For more ETF news and strategy, visit our Equity ETF Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Marijuana ETF YOLO Looks Toward A Budding Future Vans, Nike Among 170 Footwear Companies Concerned About Tariffs Bitcoin, Stablecoin, Blockchain, Enterprise Ledger … WTF? So Many Retirement Idiots Columbia Threadneedle Makes Changes to its ETF Line Up READ MORE AT ETFTRENDS.COM > || Equifax joins Canadian banks in using the SecureKey blockchain system: Earlier this month, Coin Rivet reported that more and more Canadian banks are choosing the SecureKey blockchain system. Through a consent-driven digital identity network called Verified.Me, users gain additional control over their personal information. Now, the country’s leading provider of compliance and identity solutions – Equifax Canada – will be joining them as well. Equifax Canada is joining the Verified.Me network As a secure way of verifying user identity to access banking services quickly, Verified.Me launched this May with the support of seven of Canada’s top banks. These include the Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), and Scotiabank. This kind of initiative already goes to show just how much backing blockchain technology has north of the border. However, the fact that heavyweights like Equifax Canada are now joining in marks a seismic shift in the way that Canadians manage their data online. It also cements SecureKey’s place as a leader in identity and authentication solutions. Equifax will play a key role as a data verifier in the Verified.Me digital identity network. As Canada’s leading credit bureau, this partnership will make it easier for residents to verify their identities with trusted providers safely and securely. Not only will this cut out lengthy manual checks, but it will give Canadians peace of mind when entering and sharing their private information online. Becoming a network that enhances consumers’ digital experiences Founder and CEO of SecureKey Technologies Greg Wolfond enthused : “Equifax will play an important role as an early adopter in the Verified.Me service. As our strategic relationship grows, we look forward to expanding a network that enhances consumers’ digital experiences, while protecting their right to privacy and providing them with greater control over their data.” Verified.Me is available to Canadian users through an app on both Android and iOS. As well as other features, users will be able to check their credit scores for free privately and safely. “In this age of digital online transactions, it is more important than ever that identification solutions be designed to enable Canadian consumers to conveniently and securely verify their identities. Verified.Me is that solution,” commented Tara Zecevic, VP Fraud, ID, and Compliance at Equifax. More about Verified.Me The main current benefit of using Verified.Me lies in the fact that users can make their data portable. They can use the details that they have verified with their chosen financial entity or Equifax to access services or create an account with another organisation in the network. Story continues This will save them the time and hassle of providing various forms of ID, remembering numerous passwords, and going through lengthy verification processes. They also won’t have to worry about how their information is being used since they are in complete control. The Verified.Me blockchain-based solution has ‘triple blind’ privacy built into its core. With this technology, no person’s data can ever be shared without their consent. Moreover, only the user can see where the data comes from and where it’s going. Zecevic remarked: “Being consumer-consent driven, Verified.Me is about giving people more choice, security, control, and convenience when accessing new services. In an online environment, a provider needs to be confident that they are dealing with you. Verified.Me is an exciting new service that will not only help Canadians verify their own identities, it also has tremendous potential in helping our business clients streamline their digital processes.” Canada is setting a precedent for safe and secure online ID management There is a high level of blockchain and cryptocurrency adoption in Canada, and already some 85% of Canadians have heard of Bitcoin. Now that the government is fostering the development and implementation of blockchain-based solutions like SecureKey, this could be the start of many more use cases to come for the technology. It’s also showing that Canada is setting a precedent for safe and secure online identity management solutions. Equifax Canada may be the entity in question when it comes to SecureKey’s Verified.Me, but Equifax is a global information solutions company operating in at least 24 countries. The Equifax hack of 2017 in which criminals stole private details of some 150 million Americans also remains fresh in many people’s minds. With solutions like Verified.Me, this kind of nightmare will be a thing of the past. If Canadians prove this new solution to be popular, efficient, and helpful, having Equifax on board could enable SecureKey to roll the solution out to more countries around the world. This means that transacting and interacting online can be done faster and more securely – and the user has control over the data they send. The post Equifax joins Canadian banks in using the SecureKey blockchain system appeared first on Coin Rivet . View comments
[Random Sample of Social Media Buzz (last 60 days)]
Crypto is my job and I take lots of time to investigate various projects. This project is the most top-drawer in my rating. #Shato || @EyeOfCrypto1 nah, i wanna flip more shitcoins actually, i'd love BTC to consolidate longer || FREE TRIAL STOCK ALERTS - https://t.co/uAcamNRUPt $ABIO +82% MUST SEE Track Record https://t.co/pU5l0pk017 $TNXP $BIOC $TAPM $RFBC $SMRT $BTC $BTC $CANF $DFRG $NROM $FCEL $OESX $OGEN $AFH $NOVN $MOTS $ADVM $ELTK $VSTM $CUI $ENSV #investing #trading || $SWRM btc play with news https://t.co/xCoTQpltko || @JudgeCarterBot @JudgeCarter Create Attractive #website , specially #redesign #clone #wordpress_website #landing_page #Website #Design #elementor_pro #web_developer . If you need to make a website then you can Knock me at #Fiverr
#GameOfThrones #bitcoin #TaehyungYouArePerfect
https://t.co/KBz1CsZDVj || If you are checking out my page then you have some sense of cryptoworld. Why wouldn't you check out this ICO? It seems to be notable to be invested in. #Shato || @zakc00p3r it’s pure speculation and gambling.. if you don’t understand the true value you’re being stupid.. idc I highly doubt you can truly predict btc price direction || All services have resumed as scheduled at 6:00 AM. || Crypto is my job and I take lots of time to investigate various projects. This project is the most top-drawer in my rating. #Shato || A China Bond Sell-off Could Send Bitcoin, Ethereum, XRP, And Litecoin To New Highs via @forbes https://t.co/Hv07IEadjF
|
Trend: down || Prices: 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-10-07]
BTC Price: 19546.85, BTC RSI: 47.70
Gold Price: 1700.50, Gold RSI: 52.27
Oil Price: 92.64, Oil RSI: 61.96
[Random Sample of News (last 60 days)]
Investor Confidence Is Stifling as Crypto Market Starts to Unravel: The crypto market is starting to unravel, and fast.
The worlds largest cryptocurrency, Bitcoin, shed around 6% within the first full week of September as prices fell below the $19,000 threshold for the first time in months. By market value, this was a loss of about $1,000.
As prices slowly rebounded, before slipping back down again, investors have been left with an uneasy feeling as changing economic cycles and fears over the Federal Reserves hawkish monetary policy have been haunting traditional markets for much of the second half of 2022.
• Warning! GuruFocus has detected 6 Warning Signs with RIOT. Click here to check it out.
• RIOT 15-Year Financial Data
• The intrinsic value of RIOT
• Peter Lynch Chart of RIOT
Across the board, the crypto market has been treading choppy waters. The low-swinging prices of Bitcoin, Ethereum and other cryptocurrencies have led to another round of mass selloffs, pushing the sectors market value below $1 trillion.
Major uncertainty, extreme volatility and bearish market sentiment have made conditions deteriorate faster. Despite these conditions, some crypto enthusiasts remain bullish over a potential flip that would see prices shoot up again in the early part of 2023.
In terms of macro performance, surging interest rates and rampant inflation are adding more pressure on markets, and crypto is no exception.
Slowdown in crypto investments
As prices retreat further, analysts have found that crypto-based investments have been shrinking for most of the year. A report by global auditing and consulting firm KPMG confirmed this, highlighting the downturn in global investments in crypto companies and overall crypto-based assets.
According to the report, investments in crypto companies have fallen to $14.2 billion for the first half of 2022. That is more than half of the $32.1 billion recorded for the same period last year.
Analysts predict the fall will continue for most of the year, and companies will see investment sentiment shrink even further by the start of 2023.
The sudden turnaround of investor confidence comes after a tumultuous year on both crypto markets and major U.S. indexes.
Others argue the slowdown in investment incomes resulted from Bitcoin's hawkish performance, which reached $17,600 in June, marking its lowest price for 2022. So far, the price of the cryptocurrency has come down by more than 50% this year alone.
Investors are changing their portfolios and are looking for intuitive ways to shield themselves from a possible recession, which for the most part has kept many investors on their toes this year.
Aside from this, a change in interest is also fueling a decrease in crypto investments. The same KPMG report highlighted that some investors may soon start switching their interests, opting to support projects they feel can drive meaningful monetary growth.
Although investors are switching up their interests - for crypto - other areas of the market such as blockchain technology and decentralized finance (DeFi) remain critical areas for the sector and for investors who are looking to underpin these technologies.
Well-managed companies that have incorporated steadfast strategies in their framework will be able to ride out most of the uncertainty that both investors and the markets have brought about in recent months.
What's more is that sentiment surrounding blockchain-based companies and public stock options have also come down as a chain reaction to Bitcoin's slow performance in the last few months.
Riot Blockchain (NASDAQ:RIOT) saw share prices tumble by 5% in post-earnings call, after the company missed both its top- and bottom-line performance. The results were due to the companys large non-cash impairment charges, which are directly tied to its Bitcoin holdings.
Applied Blockchain (NASDAQ:APLD) is another company whose stock options have also not been left untouched by the rowdy performance of the broader crypto market. Stock prices are down by 11%, and this could even be a bigger blow to insider shareholders who recently purchased around $220,000 worth of the stock. These initial investments are now worth $171,000.
The good news, however, is that some major institutional investors remain bullish over market conditions and that of Bitcoin.
Recently, Bloomberg analyst Mike McGlone said, Bitcoin is a wild card thats more ripe to outperform when stocks bottom, but transitioning to be more like gold and bonds.
The ongoing price movements and the Feds monetary tightening will determine the price direction of both stock markets and crypto markets. Despite the disparity, there are at least still some analysts that feel crypto will be able to outperform traditional stocks in the coming months. It is a big swing, but it could be toward the direction investors are holding out for.
Ethereum Merge could drive further change
The coming weeks will also be a crucial time for the crypto market as the long-awaited Ethereum Merge is set to take place on Sept. 13.
For months many in the industry have been speculating over the upgrade, which would see the Ethereum network shift from proof-of-stake (PoS) to a proof-of-work (PoW) system, dubbed the consensus mechanism.
Many are still on the fence on whether the Merge will make a significant difference to the price of ether, yet others suggest it could spark a mass buying spree.
Aside from Ethereum, the Merge has already impacted other cryptos in the market as well. On Sept. 6, around 1,000 of the biggest Ethereum whales purchased more than 475 billion Shiba coins, or SHIB tokens. The purchase amounted to more than $6 million in fiat equivalent.
So why the sudden interest in SHIB tokens?
Some have argued on social networks and other online forums that the tokens may be positively impacted by the Merge.
Seeing as the Shiba Coin runs on Ethereum protocols, many believe the Merge would help generate faster transfers, lower fees and could further drive mass adoption.
On the bright side, some argue the Merge could help revive the market. But then again, some say this could only fuel a faster and more severe crash for the crypto market.
The Merge might push market sentiment into new territories, yet some have claimed Ethereum has too much overarching influence and that the 400 decentralized apps that run on it could help kickstart a better overall attitude for the crypto market.
The bottom line
It is hard to place oneself in the current state of things. The crypto market has significantly shrunk over the last few months, and expert analysts suggest it will continue to do so well into the new year as well.
The possibility of revival is what is keeping some retail investors interested at the moment, but the majority of the crypto market is still mainly driven by institutional and commercial investors. The slowdown in investments is a reflection of how confidence has come down over time, but things can experience a turnaround again.
The bottom line is that with most markets, and especially the crypto market, it is best to remain steadfast in your strategy and keep a solid eye on key performance indicators. Consider whats driving the needle, and have an exit if necessary. The best is to be prepared and shield yourself against any possible turndowns. Overall, it can go up just as easily as it went down.
This article first appeared onGuruFocus. || Bitcoin Miner Stronghold Digital Significantly Restructures Debt: Stronghold Digital Mining (SDIG) said Tuesday it had negotiated with its lenders to dramatically restructure its financing agreements to eliminate more than half of its total debt and associated interest and principal payments. In a notice to the U.S. Securities and Exchange Commission earlier on Tuesday explaining that the negotiations were the reason it had delayed reporting its second-quarter results three times over the last few days, Stronghold said the debt restructuring and refinancing agreements were necessary "for the Company to be able to continue as a going concern for at least the next 12 months." The restructuring consists of returning roughly 26,200 miners to NYDIG to eliminate $67.4 million in equipment financing agreements, restructuring and expanding its financing agreements with Whitehawk Finance, and amending its May 2022 convertible notes and warrants. "Collectively, the NYDIG, WhiteHawk, and Convertible Notes and Warrants restructurings (i) reduce principal amount outstanding by approximately $79 million (approximately 55% of total principal amount outstanding as of June 30, 2022), (ii) reduce cash interest and principal payments through year-end 2023 by approximately $113 million, and (iii) improve Strongholds forecasted cash flow by approximately $40 million through year-end 2023 through a reduction in interest and principal payments and monetization of the power capacity formerly dedicated to miners," the company wrote in a press release. Shares in Stronghold Digital were down almost 11% during the day, and were down another 6% after-hours following the release of details of the restructuring. Publicly traded miners have been battered by the bitcoin bear market, with their shares falling more than 60% on average this year. Stronghold has done even worse, its shares dropping more than 70%. And the group has done even worse than bitcoin itself, which has lost less than half of its value. A summary of Stronghold's restructuring moves from its Q2 analyst call. Stronghold reported revenues of $29.2 million for the second quarter, below the consensus analyst estimate of $30.3 million, according to FactSet. It also reported a net loss of $40.2 million for the quarter, compared to a net loss of $3.2 million in the second quarter of 2021, with the increase driven primarily by a rise in expenses and impairments on its bitcoin holdings, the company said. Story continues UPDATE (Aug. 16, 2022 18:08 UTC): Added additional quote from Stronghold and information about miners' stock declines. UPDATE (Aug. 16, 18:19 UTC): Added information about Stronghold's second-quarter results. UPDATE (Aug. 16, 21:14 UTC): Updated headline and added new information throughout. || The 3 Worst Stocks You Can Buy Ahead of a Housing Market Crash: Fortune released some data on Aug. 24 about the impending housing market crash. Over 183 housing markets in the U.S. could see home prices drop by 20% if a recession hits. If that happens, the worst stocks to hold at that point would be anything related to residential real estate, except for owners and builders of multi-family residential. So, which housing-related industries will suffer more than others? Real estate brokers would continue to be affected as higher mortgage rates reduce the number of sale transactions. If consumers shy away from buying newly constructed homes, home buyers could also feel the pinch, and of course, the businesses that supply home builders with the products necessary to build the homes could also be hurt. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Some are probably already feeling the heat. With the Federal Reserve Chair saying on Aug. 26 that the Fed would have to raise interest rates higher for longer to dampen inflation, industries reliant on housing are all but certain to take a beating in the near term. So, with that in mind, here are three of the worst stocks to own ahead of the potential housing market crash. Ticker Company Price TOL Toll Brothers $46.12 PKB Invesco Dynamic Building & Construction ETF $41.29 OPEN Opendoor Technologies $4.61 Toll Brothers (TOL) Toll Brothers Home construction company logo seen displayed on smart phone Source: IgorGolovniov / Shutterstock.com You would think that the luxury market wouldn’t be hurt by rising interest rates. However, the usual buyers that Toll Brothers (NYSE: TOL ) gets — it builds homes that sell for more than $1 million — have opted to sit tight. Many of its buyers are trading up from lower-priced homes. According to Bloomberg Industries analyst Drew Reading, as reported by Bloomberg : ‘The move-up market will continue to face unique challenges as current homeowners are less inclined to trade up due to massive home-price gains and the likelihood they carry a significantly lower rate on their current mortgage,’ Reading said in an email. ‘The higher end of the market also tends to be more discretionary, which means ongoing volatility in the stock market could remain an overhang.’ Story continues Toll’s purchase contracts in the quarter ended July were 1,266 , well below the 2,568 expected by analysts. TOL stock is down 34% year-to-date. There’s a good chance it could fall further in the months ahead. I would wait for the situation to settle before buying on the dip. Invesco Dynamic Building & Construction ETF (PKB) In this photo illustration the D.R. Horton (DRI) logo seen displayed on a smartphone. Source: Casimiro PT / Shutterstock.com Invesco Dynamic Building & Construction ETF (NYSEARCA: PKB ) is a collection of 30 stocks that tracks the performance of the Dynamic Building & Construction Intellidex Index. PKB’s website states: These are companies that are primarily engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, or working on large-scale infrastructure projects, such as highways, tunnels, bridges, dams, power lines, and airports. Toll Brothers is not a holding but at least six large homebuilders including DR Horton (NYSE: DHI ), one of the largest homebuilders in the country. The ETF is down more than 23% YTD. Approximately 45% of the holdings are companies that provide machinery and materials for homebuilders. Other similar ETFs to be avoided at this point include the iShares U.S. Home Construction ETF (BATS: ITB ) and the SPDR S&P Homebuilders ETF (NYSEARCA: XHB ). Opendoor Technologies (OPEN) The Opendoor website is open on a smartphone that is resting on top of a map. OPEN stock. Source: Tada Images / Shutterstock.com This buyer and seller of homes has also gotten pummeled in 2020. Opendoor Technologies (NASDAQ: OPEN ) has lost more than 69% of its value YTD. Opendoor reported Q2 2022 results at the beginning of August. While its revenues increased 254% over last year to $4.2 billion, its gross margin fell 180 basis points to 11.6%. As a result, it lost $54 million in the quarter. On the surface, those seem like pretty good numbers. However, if a recession hits and home prices fall by 20% in 183 markets, Opendoor will be losing money on a lot of homes. So, it’s understandable why OPEN stock is trading for less than $5. It is now officially a penny stock. Interestingly, analysts still like the stock. Of the 13 covering OPEN, eight rate it a “buy.” Only one has it as underweight or an outright “sell.” The average target price is $8.83. In March, I suggested that for under $10, OPEN might be a good bet for aggressive investors. However, the housing market and interest rates have gotten much worse in the months since. At this point, only the most aggressive investors should consider making a bet on Opendoor. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, Will Ashworth 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 . Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post The 3 Worst Stocks You Can Buy Ahead of a Housing Market Crash appeared first on InvestorPlace . || 3 Cybersecurity Stocks to Buy Now for Extraordinary Gains: Last week, I wrote about trends that investors simply cannot ignore right now, even in the midst of a bear market. While a bear market has enveloped the stock market and nearly swallowed individual stocks whole, there are still some bright spots. One such bright spot was cybersecurity stocks. While the economy has been hitting a few snags and as there’s been destruction in tech, cybersecurity continues to do pretty well. That speaks to the risk that cybercrime, hacking, ransoms and other digital attacks present to companies — in good times or bad. Companies have to secure their business. As more and more things become digital — whether it is patents, product secrets or customer information — these companies need to be proactive in protecting them. That means ponying up and paying the cybersecurity firms who specialize in this field. InvestorPlace - Stock Market News, Stock Advice & Trading Tips When we look at the companies with earnings momentum, we’re seeing strength in cybersecurity stocks. PANW Palo Alto Networks $175.02 CRWD CrowdStrike $173.87 DDOG Datadog $93.57 Palo Alto Networks (PANW) Palo Alto Networks (PANW) logo on corporate building Source: Sundry Photography / Shutterstock.com Palo Alto Networks (NASDAQ: PANW ) is the big dog among cybersecurity stocks and this company is doing just fine. It weighs in with a $52 billion market capitalization and recently underwent a 3-for-1 stock split . While a stock split historically tends to help a stock price over the next 12 months, it doesn’t seem to have as strong of an effect during a bear market. At least not yet, anyway. When the company reported earnings in May, it knocked the cover off the ball. So did many others . However, many companies then struggled in the most recent quarter. When Palo Alto delivered its FY Q4 results in late August, it again delivered a top- and bottom-line beat with a full-year guide that reassured investors. This company simply continues to execute at a very high level. Analysts expect 25% revenue growth this year and more than 20% growth next year. That’s roughly in line with the earnings expectations too. While shares have rebounded nicely from the lows, Palo Alto is still down about 18% from the highs. Story continues If we get further selling pressure in this name — or revisit the 2022 lows — it may be worth accumulating shares of this great company. CrowdStrike (CRWD) A sign with the Crowdstrike (CRWD) company logo Source: VDB Photos / Shutterstock.com CrowdStrike (NASDAQ: CRWD ) is not all that different from Palo Alto Networks. It’s one of the larger cybersecurity stocks, as it commands a $40 billion market cap. However, the stock is more expensive. Shares trade at 18 times this year’s revenue. While that may startle some investors, realize that analysts expect revenue to grow about 54% this year and for earnings to double. That’s quite a bit more growth than Palo Alto Networks is giving us right now. There’s nothing wrong with either company and both are great stocks — hence both of them being put on this list. But one has a higher valuation and higher growth and the other has a lower valuation and lower growth. Further, CrowdStrike stock is down about 41% from the high and fell as much as 56% from the all-time high. When the company last reported earnings in August, it beat on earnings and revenue estimates. Management also raised its full-year guidance . Not many companies can do this right now, particularly in tech. When momentum comes back to tech stocks, cybersecurity stocks will benefit. Datadog (DDOG) The Datadog (DDOG) logo displayed on a laptop screen. Source: Karol Ciesluk / Shutterstock.com The action in Datadog (NASDAQ: DDOG ) has investors howling, as this has been the worst-performing stock of the three mentioned here. But that makes sense, given its newcomer status in the public markets. With a market cap just under $30 billion, it’s not necessarily small, but it’s smaller than PANW and CRWD stocks. The stock went public in the second half of 2019, just a few quarters before the Covid-19 pandemic and the ensuing selloff. After bottoming near $29, shares exploded to a high of $199.68 in November 2021. In other words, it’s been volatile since it went public (in both directions). Analysts’ estimates are all over the place with this one but call for almost 60% revenue growth this year. There are some lower estimates — like 36% growth in FY 2023 — but some estimates are as high as 93% in the out-years. The firm is also profitable and growing at a steady rate. 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 . 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 Cybersecurity Stocks to Buy Now for Extraordinary Gains appeared first on InvestorPlace . || Exclusive-Kazakhstan to start oil sales via Azeri pipeline to bypass Russia: MOSCOW/LONDON (Reuters) - Kazakhstan is expected to sell some of its crude oil through Azerbaijan's biggest oil pipeline from September, as the nation seeks alternatives to a route Russia threatened to shut, three sources familiar with the matter said.
Kazakh oil exports account for more than 1% of world supplies, or roughly 1.4 million barrels per day (bpd).
For 20 years, they have been shipped through the CPC pipeline to Russia's Black Sea port of Novorossiisk, which provides access to the global market.
In July a Russian court threatened to shut the CPC, prompting the Kazakh government and major foreign producers to set up contracts for other outlets as a precaution.
None of the alternatives are as practical as the CPC pipeline, raising the risk of further volatility on energy markets.
Shortly after Russia invaded Ukraine in February, international crude prices hit 14-year-highs and prices have stayed high, sustaining an average above $100 a barrel in July.
A source with direct knowledge of the matter said Kazakhstan's state oil firm Kazmunaigaz (KMG) was in advanced discussions with the trading arm of Azerbaijan's state firm SOCAR to allow 1.5 million tonnes per year of Kazakh crude to be sold through the Azeri pipeline that delivers oil to Turkey's Mediterranean port of Ceyhan.
At just over 30,000 bpd, the volume is a trickle compared to the usual 1.3-1.4 million bpd that flows through the CPC pipeline.
The final contract is due to be signed at the end of August with flows through the Baku-Tbilisi-Ceyhan (BTC) pipeline starting up a month later, the source said.
Another 3.5 million tonnes per year of Kazakh crude could start flowing in 2023 through another Azeri pipeline to Georgia's Black Sea port of Supsa, two sources said.
Combined with BTC flows, the volume would equate to just over 100,000 bpd, or 8% of the CPC flows. KMG declined to comment and SOCAR declined to comment on the specific deal.
Relying on Azerbaijan would allow Kazakhstan to side-step Russian territory. Last month, BP Azerbaijan said it would redirect flows away from the Baku-Supsa pipeline to the larger BTC pipe.
However, the new BTC route means Kazakhstan will have to rely on a fleet of small tankers to take its oil across the Caspian Sea to Baku from its port at Aktau that has limited spare capcity, the sources said.
OTHER ROUTES
Tengizchevroil (TCO), a joint venture led by oil major Chevron, has its own marketing arm and is separately negotiating its own routes by pipeline and rail, two of the sources said.
The BTC pipeline could be an option for TCO too, but a source said if agreed, it could take up to six months for flows to start. TCO declined to comment.
Quality is another factor impeding a quick agreement. Kazakhstan's main grade CPC Blend is a light, sour crude sold at a significant discount to Azerbaijan's flagship BTC grade that is an easier-to-refine medium, sweet grade.
TCO already began re-routing a small volume of oil by rail to Georgia's port of Batumi in April when storm damage made part of the CPC terminal unusable.
Two of the sources said TCO was booking more rail volumes and they could increase in September or October.
Kazakhstan separately exports up to 1 million tonnes, or 250,000 bpd, of Urals via Russia's pipeline system to the Black Sea and to Baltic sea ports.
(Reporting by Reuters reporters and Julia Payne in London; additional reporting by Nailia Bagirova in Baku; editing by Barbara Lewis) || With 23.6% CAGR, Blockchain AI Market Worth USD 973.6 Million by 2027: Fortune Business Insights According to Fortune Business Insights, the global Blockchain AI Market size is projected to reach USD 973.6 Million in 2027, at a CAGR of 23.6% during the forecast period Pune, India, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The global Blockchain AI Market size is projected to reach USD 973.6 million by 2027 , exhibiting a CAGR of 23.6% during the forecast period. Increasing adoption of Blockchain solutions driven by artificial intelligence (AI) to combat the COVID-19 pandemic is stoking innovation in this market, observes Fortune Business Insights™ in its report, titled “Blockchain AI Market Forecast, 2020-2027”. International and regional agencies have been leveraging the capabilities of Blockchain AI to efficiently and securely collect, analyze, store, and monitor data related to the coronavirus. For example, the World Health Organization (WHO) has partnered with IBM, Microsoft, Oracle, and the enterprise Blockchain platform HACER to build a distributed ledger technology (DLT) called MiPasa. This technology has been designed to enable early detection of the virus and help identify carriers and hotspots. Private companies are also engaged in developing data-driven solutions to track the coronavirus. Acoer, for instance, has created the Coronavirus Hash Log dashboard that allows the general public to understand the extent of the virus spread and its trends over time. The data used by Acoer is sourced from the WHO and the CDC and is released to the public through Blockchain. Thus, AI and Blockchain together are strengthening the global fight against COVID-19 and fueling the growth of this market. Industry Developments: August 2020: Fetch.ai and Waves announced a collaboration to conduct joint research & development to boost the multi-chain capacities Fetch. I’s system of autonomous economic agents (AEAs). This partnership will enable Fetch.ai to integrate machine learning with decentralized data systems using the Gravity protocol. August 2020: BurstIQ announced the release of its Burst Chain® User Interface Software Developer Kit. The kit is essentially a set of accelerator tools that empower application developers to speedily deploy blockchain-enabled web applications on the BurstIQ platform. Story continues Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/blockchain-ai-artificial-intelligence-market-104588 Report Scope & Segmentation Report Coverage Details Forecast Period 2020 to 2027 Forecast Period 2020 to 2027 CAGR 23.6% 2027 Value Projection USD 973.6 Million Base Year 2019 Blockchain AI Market Size in 2021 USD 184.6 Million Historical Data for 2016 to 2018 No. of Pages 140 Segments covered Component; Technology; Deployment; Application; Industry Blockchain AI Market Growth Drivers Rising Monetization of Customer Data by Using Blockchain to Aid Market Growth Lack of Skilled Workforce among Enterprises to Impede Market Growth Driving Factor Favorable Government Policies for Blockchain-based Transactions to Brighten Market Prospects Many countries around the globe are actively supporting the adoption of Blockchain-based financial transactions owing to the security and transparency of this technology. For example, in Australia, transactions and trades conducted through cryptocurrencies have been exempted from paying taxes. The Australian Securities Exchange has also announced its plans to fully deploy Blockchain technology in the next two years. In China, the national government openly supports Blockchain and AI and has been actively promoting domestic smart contracts and cryptocurrency platforms such as VeChain, TRON, and NEO. Another prominent example for Blockchain AI is Japan, where the whole concept of cryptocurrency emerged. A report by Nikkei found that in 2017, around 40% of Bitcoin trading was done in Yen, making Japan one of the leading adopters of Blockchain technology powered by AI. The proliferation of such advanced technologies in major world economies is, thus, propelling the Blockchain AI Market growth. Click here to get the short-term and long-term impact of COVID-19 on this Market: https://www.fortunebusinessinsights.com/blockchain-ai-artificial-intelligence-market-104588 Report Coverage: The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the product demand in the near future. Regional Insights North America to Hold an Unassailable Market Position; Asia Pacific to Register Highest CAGR North America, with market size of USD 92.8 million in 2019, is expected to have a commanding lead in the global market owing to the strong presence of large, internationally-renowned technological companies such as Oracle, Google, and Amazon Web Services. These tech behemoths have been spearheading the development and advancement of AI, blockchain, the Internet of Things (IoT), and Big Data technologies, which is a critical factor aiding the dominance of North America. Asia Pacific is expanding its blockchain AI market share on account of the initiation of blockchain projects by governments and private sector entities. In Europe, on the other hand, the increasing presence of AI and blockchain companies and startups is anticipated to bolster the regional market growth. Competitive Landscape Partnerships & Product Launches to be the Core Growth Strategies of Key Players In a bid to gain a decisive competitive edge, prominent players in this market are focusing their energies on launching new products and engaging in partnerships to entrench their market position. The development of next-gen offerings is also enabling companies to diversify their portfolios and further broaden the existing customer base. List of Key Players Mentioned in the Report: NeuroChain Hannah Systems Chainhaus Bext Holdings Inc. NetObjex, Inc. Ai-Blockchain Cyware Labs Inc. BurstIQ, LLC Numerai Gainfy SocialTrendly, Inc. Alpha Networks Fetch.ai Core Scientific Figure Technologies Quick Buy - Blockchain AI Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/104588 Major Table of Contents: Introduction Definition, By Segment Research Methodology/Approach Data Sources Key Takeaways Market Dynamics Macro and Micro Economic Indicators Drivers, Restraints, Opportunities and Trends Impact of COVID-19 Short-term Impact Long-term Impact Competition Landscape Business Strategies Adopted by Key Players Consolidated SWOT Analysis of Key Players PESTLE Analysis Porter’s Five Force Analysis Supply chain Analysis Global Blockchain AI Key Players Market Share Insights and Analysis, 2019 Key Market Insights and Strategic Recommendations Primary Interviewee’s Key Responses Companies Profiled Overview Key Management Headquarters etc. Offerings/Business Segments Key Details Employee Size Key Financials Past and Current Revenue Gross Margin Geographical Share Business Segment Share Recent Developments Annexure/Appendix Global Blockchain AIMarket Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027 By Component (Value) Platform Services By Technology (Value) Computer Vision Machine Learning (ML) Natural Language Processing (NLP) Others TOC Continued…! FAQ: How big is the Blockchain AI Market? Blockchain AI Market is projected to grow from USD 220.5 million in 2020 to USD 973.6 million in 2027 at a CAGR of 23.6% in the 2020-2027 period. How big is Blockchain AI Market In North America? The market in North America stood at USD 92.8 Million in 2019 and is expected to gain a huge portion of the market share in the coming years. About Us: Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Contact Us: Fortune Business Insights™ Pvt. Ltd. US: +1 424 253 0390 UK: +44 2071 939123 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com || Thai Energy Billionaire Turns to Crypto to Boost Growth: Report: Thailands second-richest person plans to increase his crypto-related investments in the coming months despite scrutiny from the local government and falling participation from retail traders on local exchanges, Bloomberg reported. Sarath Ratanavadi, CEO of power company Gulf Energy Development, told Bloomberg in a Wednesday interview that his company plans to invest more in the crypto industry to create additional sources for earnings. Blockchain technology platforms and cryptocurrencies will be key drivers for the companys strongest returns as the overall market remains sound and has high potential for growth, he said. Ratanavadi will be following a path blazed by businesses elsewhere in the world that have, in the past few years, increasingly turned to crypto to bolster revenues. Firms taking the plunge include business software maker MicroStrategy which has invested billions of dollars in bitcoin electric-car maker Tesla, technology conglomerate Block and Chinese photo application firm Meitu. Still, those bets have largely soured amid a market-wide decline: MicroStategy (MSTR) reported nearly $1 billion in losses on its holdings, Meitu lost over $52 million , and Tesla (TSLA) sold over $930 million in bitcoin earlier this year citing uncertainty of the COVID-19 lockdowns in China." The decision comes as Thailands retail trader market is dwindling. Data from the country's Securities and Exchange Commission cited by Bloomberg showed the number of active trading accounts fell to 260,000 in July from 692,000 in January, coinciding with a fall in crypto prices. Bitcoin (BTC) is now 69% lower than its record high, with ether (ETH) and other major cryptocurrencies such as solana (SOL) registering declines of as much as 86%, CoinGecko data shows . Ratanavadi remains unfazed, however. He said his company plans to open a crypto exchange in Thailand in partnership with crypto exchange Binance and is actively seeking licenses. || 3 REITs to Sell in October: The potential for high returns and stable income streams have made real estate investment trusts, or REITs, a popular investment vehicle. However, not all REITs are created equal, especially with a potential recession hanging overhead. On today’s list, I take a look at three REITs to sell.
The reasoning for my bearishness on these particular REITs stems from the fact that their area of focus — hotels and resorts — has limited upside and a lot of downside risk in the current economic environment. The lodging sector is showing signs of improvement after the pandemic, but it is not out of the woods yet.
Occupancy rates remainbelow pre-pandemic levels, and inflation and recession threaten to stop the recovery in its tracks. As consumers continue to rein in discretionary spending, they are less likely to spend money on travel, thus reducing demand for lodging.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Here are three REITs to sell.
[{"PK": "HST", "Park Hotels & Resorts": "Host Hotels & Resorts", "$11.26": "$15.88"}, {"PK": "PEB", "Park Hotels & Resorts": "Pebblebrook Hotel Trust", "$11.26": "$14.51"}]
Source: Shutterstock
Park Hotels & Resorts(NYSE:PK) is one of the largest publicly traded lodging REITs with “49 premium-branded hotels and resorts with over 30,000 rooms primarily located in prime city center and resort locations,” according to the company.
The REIT has experienced a post-pandemic recovery but itslatest resultsshow occupancy levels and revenue per available room remain below 2019 levels. At the same time, operating costs are on the rise, up 54% year over year in Q2.
However, the major issue the firm is facing is the crushing amount of debt it has accumulated. As of June 30, Park Hotels had $4 billion in net debt, and its interest expenses totaled $124 million in the first half of the year. Meanwhile, Park had $109 million of restricted cash on its books at the end of the second quarter. Its high debt levels are likely to limit its ability to make new investments over the next few years.
After falling 40% year to date and nearly 20% in September, PK is currently trading at a discount to its book value. Meanwhile, it declared a paltry dividend of 1 cent per share in Q2 for a forward annual yield of just 0.3%.
I expect PK to continue to underperform as its financial situation deteriorates further, which is why it ended up on this list of REITs to sell.
Source: Boyloso / Shutterstock
Host Hotels & Resorts(NASDAQ:HST) focuses on the luxury and upscale hotel market with 73 U.S. properties and five international properties with a total of around 42,300 rooms. Like Park Hotels & Resorts, it has seen its post-pandemic recovery slow and costs rise.
Revenue for the second quartermore than doubledon a year-over-year basis to nearly $1.4 billion, but it remains roughly 7% below 2019 levels. Operating costs were up 47% from a year ago and are expected to continue to rise.
The REIT is saddled with a huge debt load of $4.2 billion. In recent years, it has sold several properties, but such stop-gap measures are unsustainable and could limit future profits
HST is only down 9% for the year, but it has underperformed the broader market recently. In September, shares fell 10.6% compared to an 8% loss for theS&P 500. The REIT recently raised its quarterly dividend to 12 cents per share, for a forward annual yield of 3%, but I’m not confident it will be able to sustain this payout if the United States’ economic troubles persist.
Source: Dragon Images / Shutterstock
Last up on today’s list of REITs to sell isPebblebrook Hotel Trust(NYSE:PEB), which acquires and invests “in upper upscale, full-service hotel and resort properties located in or near urban markets in major United States gateway cities.”Its portfolioconsists of 51 hotels and resorts with approximately 12,800 rooms.
Pebblebrook has seen a recovery, with June occupancy at 73%, the highest level since the start of the pandemic. But a number of key metrics remainbelow 2019 levels, such as same-property room revenues and same-property EBITDA. Same-property total expenses, meanwhile, were up 63.5% year over year in the second quarter.
Pebblebrook holds $2.5 billion in consolidated debt and convertible notes. While this is not an unusual amount of debt for a REIT of Pebblebrook’s size, it is concerning given the current state of the hospitality industry. If Pebblebrook is unable to increase its revenues, it may have difficulty meeting its debt obligations, which could lead to higher interest rates on future borrowings.
Then there are the company’s dividend cuts to consider. Pebblebrookslashed its dividendfrom $1.25 per share in 2019 to a mere 4 cents a year currently. And management has said investors should not expect the dividend to normalize until at least 2023.
The REIT’s 0.3% yield is unlikely to provide much comfort to shareholders who have seen PEB drop 35% this year and nearly 18% in September alone.
On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.
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The post3 REITs to Sell in Octoberappeared first onInvestorPlace. || First Mover Asia: Crypto Can’t Shake the Correlation Narrative; BTC, ETH Sink but Meme Coins Rise: Good morning. Here’s what’s happening:
Prices:Bitcoin and ether fall slightly, but meme coins continue to rise.
Insights:Crypto is struggling with a stocks correlation narrative.
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): $23,870−1.3%
●Ether (ETH): $1,877−2.0%
●S&P 500 daily close: 4,305.20+0.2%
●Gold: $1,790 per troy ounce+0.5%
●Ten-year Treasury yield daily close: 2.82%+0.03
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
Bitcoin and Ether Fall, but Meme Coins Are Rallying
By James Rubin
Most major cryptos were on the defensive for a second consecutive day, with bitcoin and ether both trading slightly lower from respective two-plus-month highs they reached less than 48 hours ago.
BTC was recently changing hands below $24,000 after cracking $25,000 on Sunday and down roughly a percentage point over the past 24 hours. Ether was trading under $1,900 less than two days after breaching $2,000 for the first time since late May, as investors large and small paused from more recent risk-embracing postures.
"The recent crypto rebound has hit a wall as retail traders continue to lick their wounds and institutions respect key technical levels," Edward Moya, senior market analyst for foreign exchange Oanda, wrote in an email. "Bitcoin can’t yet break above the $25,000 level, but it seems to be maintaining a bullish trajectory here."
Over the past seven days, ETH has outperformed BTC amid growing anticipation of the Merge, which will shift the Ethereum protocol from proof-of-work to a faster, more energy efficient proof-of-stake protocol. ETH’s total market capitalization is now 50% of BTC’s, approaching levels last seen in January. ETH’s market cap compared to BTC’s indicates the potential for a “flippening” event, where ETH’s total market cap exceeds BTC’s. In a report, FSInsight suggested that ether could approach bitcoin’s market cap over the next 12 months.
"The upcoming merge has led to elevated trading activity for ETH, especially in the options market, where the open interest surpassed BTC’s for the first time in history," Arcane Research noted in a newsletter.
Other cryptos were mixed, with popular meme coins DOGE and SHIB continuing their recent surge and rising more than 13% and 3%, respectively. But MANA, YGG and SAND all recently fell more than 2.5%.
Futures tracking DOGE and SHIB recently had over $25 million in liquidations, data showed, suggesting part of the rally in them has stemmed from futures bets. But the two cryptos' gains have also been confounding.
Equities
Stocks were mixed. The Dow Jones Industrial Average (DJIA) was slightly in the green after big box retailers Walmart (WMT) and Home Depot (HD) posted unexpectedly strong second-quarter earnings but the tech-focused Nasdaq down declined a fraction of a percentage point. The tech sector, which has largely correlated with crypto pricing, has been weathering disappointing results from major chip manufacturers.
Still, a 17-month low in housing starts offered investors the latest hopeful sign that the the U.S. economy was decelerating sufficiently for the Federal Reserve to scale back interest rate hikes at some point over the next six months. A decline in the July Consumer Price Index (CPI) last week suggested that the bank's recent monetary hawkishness was slowing inflation. Travis Kling, founder and chief investment officer for Ikigai Asset Management, told "First Mover" on CoinDesk TV that these signs could "bode well for asset prices broadly and for crypto as well."
Crypto news
The fallout from the terraUSD (UST) stablecoin collapse and wide-spreading price declines has slowed this month but is far from over. In anannouncementon its website, cryptocurrency lending platform Hodlnaut said it had filed an application with the Singapore High Court to be put under judicial management, which is a form of protection from creditors. The application was filed on Aug. 13, five days after the companyfroze withdrawals, and will temporarily safeguard the lender from any legal claims.
Hodlnaut is the latest in a long line of crypto companies that have been stung by the recent market downturn, Singapore-based exchange Zipmexreceived creditor protection on Monday, while trading firm Three Arrows Capitalowes billions of dollars to creditorsafter imploding in June due to leverage.
Later Tuesday, Stronghold Digital Mining (SDIG) said itwas negotiatingwith its lenders over a possible debt restructuring or refinancing agreement that would keep the bitcoin miner afloat. Publicly traded miners have suffered in the bitcoin bear market, with their shares falling more than 60% on average this year, worse than bitcoin itself, which has lost less than half of its value. Stronghold's share price has tumbled about 70%.
Also Tuesday, Acala’s native stablecoin, aUSD, came close to regaining its peg to the U.S. dollar. The Polkadot-based decentralized finance (DeFi) platform burned over 1.2 billion aUSD tokens that were minted by exploiters over the weekend who took advantage of a bug in one of the platform’s liquidity pools.
Oanda's Moya struck an upbeat note despite bitcoin's recent retreat, highlighting institutional interest in digital assets. "Pretty much everyone on Wall Street thought that the mid-June lows would get retested for bitcoin, but now it seems this dead cat bounce doesn’t want to stop," he said. "It appears the institutional money is mostly behind this recent rebound, which suggests it could have a better chance of lasting."
[{"Asset": "Dogecoin", "Ticker": "DOGE", "Returns": "+13.7%", "DACS Sector": "Currency"}, {"Asset": "Gala", "Ticker": "GALA", "Returns": "+3.5%", "DACS Sector": "Entertainment"}, {"Asset": "Shiba Inu", "Ticker": "SHIB", "Returns": "+2.8%", "DACS Sector": "Currency"}]
[{"Asset": "Loopring", "Ticker": "LRC", "Returns": "\u22123.0%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Chainlink", "Ticker": "LINK", "Returns": "\u22122.7%", "DACS Sector": "Computing"}, {"Asset": "Decentraland", "Ticker": "MANA", "Returns": "\u22122.5%", "DACS Sector": "Entertainment"}]
Crypto's Struggle With Correlation
By Sam Reynolds
Long ago, crypto was thought of as an asset to use in time of risk. When Cypriot authorities forced the country’s people to take a haircut on deposits in 2013, they turned to bitcoin to preserve wealth.
Now, things are different. Crypto is a different kind of asset. A risk asset like tech stocks. Not the safe haven it once was.
Nobody knows when this will end, or even if it will return to where it once was.
In an email to CoinDesk, Scott Sheridan, CEO of options trading platform Tastyworks, pointed to the bull market’s major equity valuations as a magnet for more capital, which in turn drives up prices. Sheridan, for his part, rejects the idea that crypto can be considered a safe haven given its volatility.
“Crypto, on the other hand, doesn’t have the same valuation metrics. It’s still in its infancy and so are its valuation models,” he said to CoinDesk via email. “That ambiguity, with respect to valuations, is what allowed for investors to justify chasing prices higher. If I’m right on that, then I would expect the volatility in crypto to outlast the volatility in equities, something you don’t want if you’re seeking a safe haven.”
Crypto and stocks will rebound together
Sheridan thinks crypto won’t turn around until equities do and market volatility subsides.
“Once we get back to a VIX [an index measuring volatility] near its mean of 18, then I think you’ll see equity prices stabilize and at that point, you might see crypto stabilize or begin moving higher. Until then, I think the combination of potential alpha in equity markets and the evolving state and subsequent turbulence in crypto are more geared toward speculation than they are sheltered from the storm,” he continued.
***
Speaking at this year’s Consensus festival, Galaxy Digital CEO Mike Novogratz predicted it will be in October when the U.S. Federal Reserve flinches first on raising interest rates. But that all depends on how inflation goes and how economies worldwide respond. With the People’s Bank of China taking aseemingly different approach than the Fed– lowering rates while the Fed raises them – it could be a while before things stabilize.
U.S. FOMC minutes released
11 p.m. HKT/SGT(3 p.m. UTC):U.S. FOMC minutes released
2 p.m. HKT/SGT(6 a.m. UTC):U.K. core consumer price index(July)
In case you missed it, here is the most recent episode of"First Mover"onCoinDesk TV:
Former CFTC Commissioner Dawn Stump on Crypto Regulation; Celsius On Pace to Run Out of Cash by October
"First Mover" spoke with former CFTC Commissioner Dawn Stump on the future of crypto regulation and her new role at crypto risk monitoring firm Solidus Labs. Plus, a closer look at Celsius Network as a new court filing revealed the crypto lender holds $2.8 billion less in crypto than it owes to depositors.
Crypto Twitter Sees 'Bearish Wedge' Pattern in Bitcoin's Price Recovery:The rising wedge – a pattern that has appeared in bitcoin's price charts – has some analysts and traders calling for a renewed sell-off toward $16,400.
Jump Crypto Picked to Revamp Solana to Make Blockchain More Reliable:The crypto trading firm and builder is reupping its commitment after the once-hot blockchain hit potholes.
Acala Stablecoins Near $1 Peg After Community Burns 1.2B aUSD Minted by Exploiters:Developers said trace reports were underway to identify the transactions performed by the 16 wallet addresses connected to the exploit.
US Fed Opens Pathway for Crypto Banks to Tap Central Banking System:The central bank will create a three-tiered system for evaluating whether a financial institution should have access.
SEC Files Complaint Against Dragonchain for Unregistered Initial Coin Offering:The complaint alleges the blockchain startup failed to register more than $16 million in crypto asset securities.
Stop Attacking DeFi Founders for Complying With the Tornado Cash Sanction:Crypto projects are being criticized for censoring use of their websites.
Other voices:Voyager customer lost $1 million saved over 24 years and is one of many now desperate to recoup funds(CNBC)
"Dog coins vs$BTCover the last 30-days" (@cryptowat_ch) ... "The series seems designed to resuscitate Kwon’s sullied image. In a 30-minute interview, filmed over two days, Yahoo Finance alum Zack Guzman asks Kwon questions including, “Are you anElizabeth Holmes,”did lawyers counsel him against speaking to the press, and is it “fair” to say UST was valueless from the start." (CoinDesk columnist Daniel Kuhn) || Urbit Courts DAOs, Crypto Teams in Quest to Make Internet P2P Again: Urbit, an audacious and idiosyncratic project to rebuild the internet computing stack from top to bottom, is throwing a coming-out party, and it’s invited the cryptocurrency industry.
Developers are finally shipping usable apps, including mobile apps, on the peer-to-peer computing network nearly a decade after it waslaunched. In addition to San Francisco-basedTlon, the company that has led core development for most of Urbit’s existence, there are now a handful of other startups building software on top of the protocol.
“This is the year where we focus less on Urbit, and more on what’s built using it,” said Josh Lehman, executive director of the Urbit Foundation, speaking of the community broadly. The nonprofit was spun out of Tlon a year ago to foment community growth and write grants to developers.
According to Lehman, about 500 people are expected to attend Urbit Assembly 2022, the community’s second annual gathering, which kicks off Saturday in Miami. While that’s small by crypto industry standards (Messari’s Mainnet conference in New York drew more than 3,000 this week), it’s nearly double last year’s attendance. Reflecting the technology’s cachet among the online intelligentsia, the technical talks will be accompanied by a poetry reading and a panel discussion featuring novelist Walter Kirn, internet historianKatherine Dee, filmmaker Alex Lee Moyer and podcaster Anna Khachiyan.
The new startups have raised millions of dollars, which again might sound like chump change from a crypto perspective, but was “unthinkable until about a year ago,” said Tim Galebach, founder of Uqbar Network, one of the newer players on the scene. The number of developers in the ecosystem is now in the “low hundreds,” Galebach estimated, up from dozens a year ago and “less than a dozen, if that” in mid-2020.
Urbit, which has its own programming languages and operating systems, was conceived more than a decade ago by an engineer named Curtis Yarvin, who is better known for his controversial political blogging. (The relevance of those writings – or lack thereof – will be discussed in aseparate articleto be published shortly after this one.)
Read more:Urbit Is Web3, Weird and Wonderful and I Don’t Care Who Made It
One of Urbit’s defining features is data portability. Rather than entrusting their data to faceless unaccountable corporations, users store it on a personal server that also supports the apps they use and serves as their digital identity. Technically savvy users can run their Urbit virtual machines on their own hardware, and the less sophisticated can pay third-party providers to host their “ships,” as these servers are called.
The big idea is to claw back power for individuals who have increasingly relied on the likes of Google, Facebook and Twitter to mediate their online interactions.
If present trends continue, "we end up in a future where companies control everything about the way we compute," said Galen Wolfe-Pauly, CEO of Tlon, in his prepared remarks for a keynote address to be delivered Saturday morning at Assembly. “This just doesn’t make any sense.”
He offered an alternative vision for the next 50 years. “We're going to enter into an era where computers are something we can trust completely.” For example, one day, it may be possible to upload your genome to a computer and to not worry about the security of your personal information because the app analyzing the genome is on the machine, not some faraway server. It’s a concept “to actually be excited about it… and think ‘wow, I’m going to learn something from this,’ rather than sending my genetic material to a company and not knowing what's going to happen to it,” he said.
But Urbit has to start somewhere. That somewhere appears to be crypto, where the Urbit community finds a lot of kindred spirits.
These two worlds have collided before.
"Urbit was the first use case of Ethereum to do something that the network couldn't have done before," Michelle Lai, one of the first hires at crypto custodian Anchorage, said in an interview. It was a point echoed by Lane Rettig, someone who spends most of his time in the world of Ethereum but has been following Urbit for the past couple of years.
Before Urbit IDs were tracked on Ethereum through the Azimuth smart contracts, Urbit names were kept "on a spreadsheet on Galen's computer," Rettig said.
Now, to varying degrees, Urbit’s startups are courting decentralized autonomous organizations (DAOs) – nominally leaderless online investment collectives – along with other crypto teams, to be early adopters of their products.
They’re framing Urbit as a platform that can host interoperable applications to replace products like Discord, Telegram and Signal – a collaboration platform tailor-made for the blockchain industry’s innovators and tinkerers.
While Tlon is best known for having built most of Urbit’s core, the company has branched out into user-facing products and plans to unveil an upgraded version of its Landscape operating system (OS) at Assembly (its version of MacOS or Windows).
In an interview, Wolfe-Pauly gave several reasons why a crypto team in particular would appreciate sovereignty over data that would otherwise be exposed to a centralized provider. These include the risks of front-running by platform employees and removal of a project by the company.
“If there’s a lot of money involved, do I want to be sharing alpha on a platform [where] I know someone could read my messages?” he said. “Do I want to be putting a lot of energy into the research that I share there, knowing that my Discord might go away?”
Another pitch is that Urbit software can coordinate this confusing patchwork of tools relied on by DAOs and like-minded groups within a one-stop shop.
“The DAO problem is that you have all these different services, all these different UXs all across the internet and you have to have a dozen browser tabs open and flip between all these things,” said Trent Gillham, founder of an Austin, Texas-based startup called Holium, which will announce its own Urbit-based OS at Assembly.
“All the tools are so disjointed. The context-switching is just too much,” Gillham went on. “Being able to have one common foundation for the entire DAO… is going to be the thing that makes DAOs more effective.”
Julie Fredrickson, a managing partner at Chaotic Capital, a VC firm that invests in DAOs, confirmed that fragmentation is a pain point. “DAO tooling is a hodgepodge mess of workflows,” she said. “There’s no ‘one ring to rule them all.’”
Beyond communication, Uqbar Network is trying to position Urbit as a locus of smart contract development. At Assembly, it will announce a testnet (an experimental environment for unfinished software) of its execution engine, which Galebach describes as a "couple-click experience." Uqbar's offering will also include aZK-rollup, a mechanism for running smart contracts on Ethereum in a way that strengthens privacy and cuts the time and cost of transactions.
“We’re going for a very user-friendly type thing,” Galebach said, “which in a crypto context is something Urbit makes it easier to provide. … You’re sort of operating in one world, for both us designing the system [and] people programming on it.”
Galebach was quick to acknowledge the irony of his statement. “It’s kind of funny because I think people think of Urbit as being somewhat hard from a UX perspective.”
They certainly do.
Justin Murphy’s passion for Urbit stems from his own experience building a small business selling online courses over the last three years using disjointed Web2 technology.
“Why do I need 10 different SaaS [software-as-a-service] apps that I pay $30 a month to just to glue these different data sources together in a smooth way?” the podcaster and writer said. “It was this absolutely painful morass that was really expensive and just mentally torturous, trying to connect these things through these third-party providers.”
After doing some research, Murphy said, in March 2021 he had an epiphany. “If Urbit wins, if Urbit becomes what it wants to be, everything I’m doing with my community and my content would be 100x easier and faster and more powerful. And once it integrates with crypto, there’s going to be financial liquidity on top of it all.”
“If” is an important word, however. Apart from being far from a household name, the Urbit network faces a challenge familiar to many crypto applications: an often clumsy and frustrating user experience. Messages sent through the network can take as long as 30 seconds to post, for instance.
“It’s still pretty janky,” Murphy said. When asked what he saw as the biggest risk to the project, he said, “My number one fear is that forever Urbit is always just a little too janky. You can't set the probability of that to zero.”
According to Galebach, ease of use is closer than many Urbit participants realize.
“The stuff that you would see as clunky as a user is often [there] because the core base isn’t fully ready to support making an easy UX,” he said. Urbit “just needs that little bit of extra work so that people can make these very smooth user experiences that are very stable.”
Nevertheless, he called that work urgent.
“The risk is a timeline risk,” Galebach said. His concern is that “stuff that should take one and a half years takes five. Even that might not be existentially threatening to Urbit. But whenever you extend those timeframes, pretty much only bad things can happen.”
Wolfe-Pauly at Tlon sounded a bit more Zen about the matter, but acknowledged the need to improve runtime.
Read more:Bitcoin Sign Guy Is Back, Bringing Sound Money to Urbit's 'Sound Computer' (2020)
“We're working on it,” he said. “There's literally one person that we fund who works on that stuff. I would love for it to be five people. We can't afford to do that.” He noted that the Urbit Foundation has existed for only a year, and said its task in coming years is to find ways to fund more infrastructural work while the ecosystem’s companies focus on making money.
Lehman, at the nonprofit, agreed that core development, traditionally Tlon’s bailiwick, is “looking like it’s going to be the foundation’s next challenge.
“Starting next quarter, we'll be figuring it out and having a lot of discussions … and throughout next year, figuring out how we can coordinate the ecosystem to tackle projects on the kernel,” he said.
As that happens, developers continue to expand Urbit's functionality. This week, an early Urbit adopter known as ~doplur unveiled an Ethereum Virtual Machine (EVM) on Urbit that uses its ID system like blockchain wallets, with the aim of courtingDeFiusers to the platform by distributing $URBIT tokens to all Metamask users.
"There is a lot of capital on Ethereum," doplur said. "If Urbit is going to be a serious player in crypto" then it's going to have to learn to speak "the language of DeFi." Not everyone involved in Urbit liked the idea, however, which was unfinished at launch and harkened back to the scam-filled days of initial coin offerings in 2017 with its white paper and airdrop.
This only goes to show some of the growing pains Urbit will go through as it continues to expand and gain adoption. Not everyone will like what ends up being built on or using Urbit, as is the nature of "open source, public infrastructure," Wolfe-Pauly said.
In the meantime, the next version of Landscape that premieres at Assembly will be much easier to use, with a front-end interface “comparable to a centralized experience,” said Marisa Rowland, Tlon’s head of product.
“Urbit and Tlon are about to be widely accessible to all,” she said. “We’re about to be able to onboard many, many more. It’s definitely a turning point.”
UPDATE (Sept. 24, 16:15 UTC): Corrects description of Uqbar testnet and Galebach's first name.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 19416.57, 19446.43, 19141.48, 19051.42, 19157.45, 19382.90, 19185.66, 19067.63, 19268.09, 19550.76
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