Day: September 27, 2020

Top 5 cryptocurrencies to watch this week: BTC, DOT, CRO, XEM, XTZ

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The tight consolidation in Bitcoin and a few altcoins points to a potential breakout within the next few days. Over the weekend hackers stole about $150 million in user funds from a number of hot wallets at KuCoin exchange. Previous instances of hacking usually have a negative impact on crypto prices but as the news broke the price of Bitcoin (BTC) and major altcoins hardly budged. In a recent interview with the Human Rights Foundation, Square CEO Jack Dorsey said that “security is not something that can ever be perfected”…

Don’t Let Exxon Mobil’s 10% Dividend Tempt You; It’s a Value Trap!

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Mobil’s dividend yield recently hit double-digit levels. The supermajor’s dividend payments are currently debt-financed. The losses and revenue declines are likely to force the oil giant to rethink its dividend policy. This has been an eventful year for Exxon Mobil. Last month, the oil giant was booted from the Dow index despite being the largest publicly traded U.S. company as recently as 2013. And now among S&P 500 stocks, the supermajor currently boasts one of the highest dividend yields. That’s nothing to celebrate, though. As of Friday, Exxon Mobil’s dividend…

U.S. Stock Market Is Starting to Price in Dire State of the Economy

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Shocking economic data shows the U.S. economy has sunk, and real inflation has shot up. The U.S. stock market may be beginning to price in the terrible state of the real economy. Yelp released a damning report on Wednesday, revealing business closures across the U.S. have soared because of the pandemic. Meanwhile, the ‘Cantillon Effect’ has gripped the U.S. economy. Because of the Federal Reserve’s monetary policy, money injected into the economy has benefited the wealthy and boosted wealth inequality. After a rally to all-time highs, the U.S. stock market…

Mohamed Salah Is a Better EPL Player Than Cristiano Ronaldo Ever Was

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Salah is on the brink of surpassing Cristiano Ronaldo’s Premier League goal tally. The Egyptian has played 73 games less than the Portuguese superstar. Salah looks more determined than ever to humble the Premier League once again. When Jurgen Klopp coughed up £35 million to sign Mohamed Salah from Roma, more than a few eyebrows were raised. After he flopped at Chelsea, many felt that Salah simply couldn’t cut the mustard in England. Klopp, ever the optimist, disagreed. Salah made no secret of just how determined he was to banish…

Here’s Why the 60/40 Approach to Investing Is Dead

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Simple and easy to implement, a 60/40 portfolio allocation has worked well in the past 40 years. This investing rule might not work in the coming years as bond yields are very low. Investors should diversify into other assets, such as gold. You’ve probably heard of the 60/40 portfolio allocation as many investment advisers use this investing rule. It consists of allocating 60% of a portfolio to equities and 40% to bonds. The idea is that this allocation will capture the long-term gains made by stocks while relying on safe…

U.S. Dollar Will Crash in 2021, Senior Yale Economist Warns

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Yale University’s Stephen Roach has predicted the U.S. dollar’s demise in 2021. Roach points to the growing current account deficit and the declining net-national savings rate as the two main factors pushing the dollar down. The dollar has declined against most major currencies over the past six months. Other analysts are also predicting a sharp loss of value. The U.S. dollar will crash in value by the end of 2021, according to senior Yale University economist Stephen Roach. He also said the probability of a double-dip recession is now over…

The Battle Lines Are Drawn

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We now know exactly when the court battle between Meghan Markle and Associated Newspapers will take place. Both sides are confident of winning, and both have made their initial claims. Battle lines have been drawn – the future of entertainment media coverage is at stake. With the preliminary hearing now concluded for the Meghan Markle vs. Associated Newspapers legal battle, we know many of the finer details as we head towards the trial. For many reasons, this legal battle will prove pivotal in how the media in Britain is able…

Key use cases to explain YFI’s high value

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The crypto industry is known for its dramatic price action, euphoria and bubbles. In the latest sustained fad since the 2017 initial coin offering, or the ICO boom, the decentralized finance niche of the industry now captivates the attention of many participants. One particular asset within this niche, YFI, has pumped to amazing price heights, totaling at least 4,400% gains inside a two-month span. Is this price action warranted, and does the token have actual value? “YFI’s value lies in its design as a governance token, allowing the community to…

trader says 23 factors show a rally is due

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A pseudonymous Bitcoin (BTC) trader outlined 23 key technical and fundamental factors that could buoy BTC’s medium-term bull case. The data points shared by the trader, known as “Byzantine General,” fit into four major themes. They are a less overheated market, a neutralizing futures market, less leveraged traders and strengthening fundamentals. The Bitcoin futures market is neutralizing Since Bitcoin’s recovery from $10,300, a persistent narrative around the top cryptocurrency has been its negative funding rates. The Bitcoin futures market implements a mechanism called “funding” to prevent the market from dominantly…

This Technical Breakout Suggests Bitcoin Is Gearing For Another Lift-Off

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Bitcoin started a fresh increase from the $10,140 swing low against the US Dollar. BTC broke the $10,550 resistance and it seems like the bulls are aiming a clear break above $11,000. Bitcoin stayed above the $10,000 support and started a decent recovery wave. The price is currently trading well above the $10,550 resistance and the 100 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $10,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is…