Day: September 2, 2020

Hong Kong’s Richest Man Li Ka-shing Staying Afloat with Stake in Zoom

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Li’s 8.5% stake in Zoom (ZM) added $3.2 billion to the billionaire’s wealth yesterday following Zoom’s cataclysmic growth amid the pandemic. The early investment in Zoom Video Communications Inc (NASDAQ: ZM) by Hong Kong’s richest man, Li Ka-shing has managed to keep the billionaire businessman afloat amid business downturns caused by the coronavirus pandemic. Per a report from Bloomberg, the move to invest in Zoom (ZM) which came as early as 2013 was spotted by Li’s long term confidante Solina Chau. Chau is a co-founder of Li’s investment venture arm,…

Binance Lists Sushi and DFI.Money in Latest Assets Addition

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The listing of Sushi and DFI.Money by Binance is an indication that the two platforms have gained community confidence as capable of generating enough volumes to make their listings worthwhile. Binance recently announced that Sushi (SUSHI) and DFI.Money (YFII) had been listed on its platform as the exchange continues to expand its tradable assets. In a release published on the official web site on September 2, the company stated that several pairs of the two assets were made available for trading on September 1, 11 AM UTC. Consequently, investors can…

Crypto Price Analysis September 2: BTC, ETH, LTC, BCH, EOS

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The crypto market is trying to grow after another correction. Dmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos. The Ethereum is ahead of the others that do not hurry to renew the highs. Moreover, on D1s of such cryptocurrencies as the Litecoin or Eos, reversal patterns are forming, promising a decline, and if the buyers fail to keep the nearest support levels, the crypto market may experience another serious drawdown.…

Institutions Bearish, Retail Bullish: Will the S&P 500 Correct Lower?

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Institutions Bearish, Retail Bullish: Will the S&P 500 Correct Lower? CCN.com – News and Op-Eds for The Next Generation Economists believe institutions could trigger a sharp selloff in the stock market following the S&P 500’s meteoric run. Are they correct? Institutions Bearish, Retail Bullish: Will the S&P 500 Correct Lower? CCN.com – News and Op-Eds for The Next Generation Source

Bitcoin Price Hit $12,000 Yesterday Despite Ethereum Is Eating BTC

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This recent Bitcoin price upgrade recorded reveals the bulls have been able to keep the price away from its previous resistance level ($11,500) as crypto traders and investors now shift their focus on the $12,000 price level. Yesterday we wrote about how the dollar weakens each day more and more, that even conservative investors like Warren Buffett are getting away from it. We also mentioned that Max Keiser in his latest tweet says that, therefore, Bitcoin is going to rise even more. Well, he was right. The price of Bitcoin…

Coinbase, Binance Have Technical Issues as Crypto Market Sees Sell-offs

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The sell-offs appear to be prompted by the pushback Bitcoin (BTC) is experiencing at the $12,000 price mark. The duo of major cryptocurrency exchanges Coinbase and Binance suffered temporary technical issues as the crypto market went into a frenzy ushering in bouts of sell-offs that placed the exchanges under pressure. The sell-offs appear to be prompted by the pushback Bitcoin (BTC) is experiencing at the $12,000 price mark. The first-ever digital currency has thus been spiraling down and currently trading at $11 451.56 according to Coinpaprika. The coin has lost…

Bitcoin’s 7.5% Plunge Open Doorways to $10,500, Per Analysts

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Bitcoin plunged lower on Wednesday, continuing its correcting downtrend after hitting a near two-week high at $12,086 earlier this week. The benchmark cryptocurrency fell by up to 6.41 percent to $11,160. Its move downhill extended the net pullback to 7.47 percent, signifying a renewed selling pressure in the $11,700-$12,000 area. That was the fifth time since August 1 the price rejected $12,000 as its price floor to expand its prevailing bull run. Conversely, the rejections paved the way for BTC/USD to retest flipped support levels near $10,500. Market analyst Nico…

Macy’s Stock Jumps 6%, Company Reported Q2 2020 Results

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Macy’s jumped over 6% at the pre-market. The surge is attributed to the stronger than anticipated 2020 Q2 results across all its three brands: Macy’s, Bloomingdale’s and Bluemercury. After releasing its 2020 second-quarter results, Macy’s Inc (NYSE: M) stock shot up more than 6%, whereby at the time of writing they were trading at around $7.44. Shares of the American department store chain have seen a very rough year, having lost over 58% year to date through Tuesday. However, things seem to have changed in the past one month whereby…

Combatting the ‘Death Note’-inspired ransomware

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There is still an element of the crypto “Wild West” in 2020, as cryptocurrency stolen through hacks and ransomware attacks is still being cashed out on major exchanges around the world. Ransomware attacks have proved to be a lucrative cash cow for cybercriminals over the past few years, with the United States Federal Bureau of Investigation estimating that over $144 million worth of Bitcoin was stolen between October 2013 and November 2019. A press conference held by the FBI in February revealed the huge amount paid out in ransom to…

Bitcoin mirrors gains of past halvings, suggesting $41K price in 2020

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Bitcoin (BTC) is charting its way directly between the previous two block subsidy halvings that sent its price an order of magnitude higher. In a tweet on Sept. 2, PlanB, creator of the stock-to-flow (S2F) BTC price models, told investors to be “patient” when it comes to price appreciation. Bitcoin price remains on track four months after halving Despite bouncing near $11,000 support on Wednesday, Bitcoin has performed exactly as expected on monthly timeframes since its last halving event in May. Reluctance to break and secure $12,000 as support has…