Dow Jones Industrial Average (DJIA) futures fell 136 points overnight after back-to-back gains. Wall Street analyst who nailed the March bottom sees another 9% upside in the stock market as momentum continues. Traders await a fresh round of jobless claims data, expected to come in at 1.8 million this week. The stock market looks set to open slightly lower on Thursday. Traders are taking a breather after a monster rally this week. Dow Jones Industrial Average (DJIA) futures were down 136 points this morning. This is likely just a cooling-off…
Day: June 4, 2020
Bitcoin Price Will Rise to $28K in 2020, Latest Bloomberg Report Reveals
As traders eye the biggest quantitative easing program ever undertaken, Bitcoin could outperform the wider market in 2020 with investors scrambling to keep up with a rapidly evolving and uncertain situation. Bloomberg provided its outlook on cryptocurrencies mainly saying that all signs point to Bitcoin going on the major bull run in 2020, the only question is whether it will break the all-time high of $20,000. The latest report says Bitcoin could retest the record highs from 2017, and may even go as high as $28,000. The report says that…
Tencent Aims to Establish 100-Member Blockchain Alliance in 2020
Tencent Cloud, the cloud computing arm of the Chinese internet giant Tencent, is preparing to bring together 100 organizations this year to establish the Inยญdusยญtry Blockchain League. On June 4, China Banking News reported that the blockchain association will include members from various sectors including enยญterยญprises, inยญdusยญtry asยญsoยญciยญaยญtions, inยญdusยญtry meยญdia, inยญvestยญment orยญganยญiยญsaยญtions, terยญtiary inยญstiยญtuยญtions and think tanks. Three pillars The organizations will together work on the collective goal of bringing blockchain standards and conduct research and development for industrial implementation. The group will work in three different committees: a blockchain…
Ex-Yang Aide Is Running for Congress with Bitcoin and UBI on His Mind
For would-be U.S. lawmaker Jonathan Herzog, financial exclusion isnโt just a talking point, itโs lived experience. When launching his congressional run, he said, Herzog went to Bank of America and Citibank and tried to open a campaign checking account, but was denied. Herzog saw it as an example of the ways centralized institutions can hold power over people, even someone like him who is privileged.ย Thatโs in part why heโs stumping for open, permissionless financial systems as part of his campaign. โThereโs acute urgency to ensure that Bitcoin and cryptocurrency…
Exponential Growth: Bitcoin’s Trading Volume Could Rival Major Asset Classes
Bitcoinโs trading volume has experienced exponential growth which could reach levels similar to major asset classes, according to a new report by Coin Metrics. The cryptocurrencyโs daily volume could exceed that of all U.S. equities in less than four years and all U.S. bonds in less than five years, the analysis shows. Bitcoinโs Volume Growth Could Match Stocks and Bonds Cryptocurrency data provider Coin Metrics published its new State of the Network report (Issue 53) Tuesday that focuses on analyzing bitcoinโs trading volume. Coin Metrics estimates bitcoinโs free-float market capitalization…
These Two Key Factors Show “Fireworks” in the Bitcoin Market Are Imminent
Bitcoin just saw a harsh $1,500 rejection at one of the most important resistance levels in the assetโs history. Though analysts remain long-term bullish, with one going as far as to say that market โfireworksโ are in this marketโs sights. Related Reading:ย Ethereum DeFi Nears $1 Billion Milestone Again, and Thatโs Big for the ETH Bull Case Bitcoin Primed to See โFireworks,โ On-Chain Analysis Shows According to Hans Hague, a senior quantitative analyst at crypto-asset fund Ikigai Asset Management, Bitcoin is currently in โheavy accumulation.โ He indicated that by pointing to…
Millennials Need to Get Smarter This Stock Market: Ex-Central Banker
Former Bank of England governor Mark Carney believes millennials should explore for sustainable options. In recent months, millennials and retail investors led the U.S. stock market to surge. The Dow Jones increased by 2.05% in a single session on June 3. Retail investors led the U.S. stock market to surge continuously since early May. But, former Bank of England governor Mark Carney thinks millennials should start looking somewhere else. Rather than stocks, Carney encouraged young investors to explore safer alternatives. What Are Lower Risk Alternatives to the Stock Market? Market…
Bitcoin Pre-Halving Dump erklรคrt! Was jetzt?
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Japanese Cryptocurrency Exchange Leads National Digital Payments Study
Digital asset exchange DeCurret is leading Japanโs three megabanks in a new study group to look into developing a national digital settlement infrastructure. Convening with the oversight of the central bank and the country’s financial watchdog โ the Financial Services Agency (FSA) โ Decurret said on June 3 that the group would seek to define a โdirection for the realization of valuable digital currencies in Japan.โ The group will be chaired by the former head of the Payment and Settlement Systems Department at the Bank of Japan, Hiromi Yamaoka. Participants…
Bitcoin Buyers โCannot Ignoreโ This 3-Year 70% Returns Hack โ Analyst
Bitcoin (BTC) dollar cost averaging for even a single year is an opportunity investors โcannot ignore,โ one of the industryโs best-known price analysts thinks. In a Twitter debate on June 3, PlanB, creator of the popular stock-to-flow Bitcoin price models, said that short-term dollar cost averaging (DCA) could easily net 70% returns. โInvestors cannot ignore thisโ His example revolved around a three-year process. Slowly increasing investment on a sliding scale through 2017, waiting all of 2018, then applying the opposite process through 2019 would have yielded returns of 70%. โIMO…