Day: February 25, 2020

When the President Tells You To Buy Stocks, He’s Usually Right

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President Donald Trump hinted that investors should buy stocks yesterday, claiming the market looks “very good!” Last time Trump urged investors to buy, the S&P 500 rallied 35%. Obama did the same in 2009, right before the biggest bull run in history. American presidents have an uncanny ability to move the stock markets. A single tweet or press statement can send traders into a buying frenzy. So what should you do when Donald Trump gets on Twitter and tells you to buy stocks? Probably buy ‘em! Source: Twitter Recent history…

Coronavirus May Already Be Spreading in Africa

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While the extremely hot weather in tropical African countries may limit the spread of the Wuhan coronavirus, Kenya’s temperate climate makes it especially vulnerable to the disease. China Southern Airlines will be resuming direct flights from China into Kenya starting Feb. 25. With infected Wuhan residents reported to be sneaking into the country, Kenya may already be experiencing an undetected coronavirus outbreak. These reports are unconfirmed. The Wuhan coronavirus outbreak is on the verge of being declared a global pandemic as new infections explode around the globe. So far, more…

Gold Price Could Skyrocket as Stock Market Crash Looks Imminent

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Gold prices hit a seven-year high on Monday after a stunning rally. The U.S. stock market crashed amid coronavirus fears, implying the risk is getting priced in. The emergence of a locust plague will be the icing on the cake to an already tumultuous 2020. The locust plague, which has flown under the radar, is devastating Africa. After a stunning rally to seven-year highs, gold’s price has undergone a minor correction. A flurry of green days since Feb. 5 saw the yellow metal rise to almost $1,690 per ounce. This…

Analyst: Ripple’s XRP Could Fall by Another 25% Due to This Reason

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XRP, the native token of the Ripple blockchain, has slipped by more than 23 percent from its year-to-date high of $0.34. And according to a popular analyst, the token is likely to fall further. Full-time trader Bleeding Crypto highlighted XRP’s bearish potential in a tweet published earlier Tuesday. He noted that the cryptocurrency’s spot rate could move lower to fill gaps left open by its futures contracts, drawing comparisons from similar phenomena in bitcoin markets. Bleeding Crypto exemplified his prediction in a chart that showed four unfilled futures gaps. The…

Tesla Stock Is Diving Because Coronavirus May Burst Its Crazy Bubble

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Tesla stock (NASDAQ: TSLA) dove 7.5% on Monday, falling twice as hard as the Dow and S&P 500. Tesla has had a turbulent February, with coronavirus fears beginning to eat into its growth. Analysts warn that Tesla stock is in a bubble and due for a big correction. Yesterday’s stock market plunge was especially painful for Tesla. Driven by fears over the coronavirus and by general market bearishness, investors sold off shares in the electric car maker at a staggering pace. Yet Tesla’s sudden drop is about more than just…

E-Hryvnia Threatens Landscape of Banking System

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Despite considerable testing and research, the prospect of a central bank digital currency (CBDC) still raises significant concerns for bankers in Ukraine.  At a Feb. 21 conference in Kyiv, the National Bank of Ukraine (NBU) presented the results of testing its CBDC project, the e-hryvnia, noting that the bank is continuing to look into issuing its own CBDC. However, the central bank apparently is still concerned about such a currency’s effect on financial stability as well as the possible threat to the traditional banking system. An official announcement by the…

Rouhani Scolds Iran for Coronavirus Panic; 60 Minutes Later, Health Minister Gets Infected

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Iran’s deputy health minister has been infected with coronavirus. The news comes an hour after the nation’s President asked citizens to not panic about the epidemic. Experts believe the number of cases in Iran to be much higher. Iran’s Fars news agency has reported that the nation’s deputy health minister Iraj Harirchi has been confirmed to have coronavirus. The report comes merely an hour after Iran’s President Hassan Rouhani asked its citizens to remain calm as fears about the epidemic intensifies. Source: Twitter Almost overnight, Iran reported more than a…

The Revival of General Partnerships in the Age of Tokenomics, Part 2

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What should be written in a partnership agreement, and how should a general partnership be run? How can an agreement be concluded remotely using the blockchain? Four business models to manage cryptocurrency and cash flows are outlined below. Relations between partners To draft a partnership agreement, partners should identify themselves, their shares and membership interests. They need to define the project and its goals as well as key tasks. Furthermore, attaching the business plan, presentations, and technical requirements or specifications for the project are also a necessary part of this…

Token Trading Platform From Russia’s Richest Man Enters Testing Phase

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Russia’s richest man, Vladimir Potanin, is making steady headway with his blockchain-based trading platform for industrial assets and commodities. The billionaire’s venture, dubbed Atomyze, launched today, Feb. 25, in test mode. Potanin’s mining and smelting firm Nornickel will be the first to issue tokens on the platform, which is designed to speed up transactions, enable surplus supply trading and cut back on the red tape needed for interactions between customers and businesses.  Atomyze is based on IBM’s Hyperledger Fabric blockchain technology, and  Nornickel’s partners Trafigura, Traxys, and Umicore have been…

Dow Shivers as Coronavirus Threatens Upto 70% of World’s Population

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Dow Jones Industrial Average (DJIA) futures bounce back after yesterday’s brutal 1,000 point plunge. Harvard professor says the coronavirus likely can’t be contained and could infect more than half the world’ population. The impact on global GDP could be more than $1 trillion. After the worst selloff in two years, the U.S. stock market looks poised for more pain on Tuesday. Dow Jones Industrial Average (DJIA) futures turned negative in the early hours, pointing to another weak market open. Investors remain in risk-off mode as coronavirus panic spreads. In a…