Day: December 1, 2020

SpaceX Next Starship Test Flight May Happen as Early as Wednesday

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Two prominent space exploration companies including SpaceX and Virgin Galactic are both at the forefront of developing space crafts for commercial purposes. Elon Musk, the Chief Executive Officer (CEO) of American aerospace manufacturer and space transportation services company, Space Exploration Technologies Corp (SpaceX) has revealed that the company may conduct its next Starship Test Fight as early Wednesday. Per a CNBC report, the scheduled test flight will be one of the most ambitious SpaceX Starship tests the company will ever embark on with plans for the Starship to reach an…

Jim Cramer Says FAANG Stocks Are โ€˜Still the Best in Showโ€™

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At present, all eyes are on coronavirus vaccine stocks. As a result, FAANG stocks are in the middle distance. However, this is temporary. According to Cramer, when the pandemic is over, it all will get back to normal.ย  On Monday, CNBCโ€™s โ€œMad Moneyโ€ host Jim Cramer shared his opinion on the current market conditions and made a prediction on the upcoming trends. According to Cramer, despite the current shift from high flying tech stocks to small and laggy shares, FAANG stocks are still the most reliable for investment. As Cramer…

Analysts Eye Ethereum Move to $800 as ETH2 Upgrade Nears

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Ethereum is exploding higher as Bitcoin has pushed to new year-to-date highs just shy of $20,000. The price of the leading cryptocurrency currently is $615, slightly below the year-to-date highs but far above where it was just a week ago. Bitcoin and Ethereumโ€™s latest surge higher comes seemingly as a result of institutional buying pressure. Along with many public fund managers on Wall Street announcing their support for cryptocurrencies, analysts have noted a spot bid pushing the market higher. Analysts are optimistic that Ethereum, especially will soon move higher as…

MRNA Stock Up 20%, Moderna Requests FDA for Emergency Clearance of COVID-19 Vaccine

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On Monday, Moderna presented the latest report of its trials on a wide scale with a 94% efficacy rate as it awaits an FDA nod in the coming weeks soon to begin its vaccine rollout. Moderna Inc (NASDAQ: MRNA), one of the forerunners in developing the COVID-19 vaccine has requested emergency clearance for its vaccine candidate. On Monday, November 30, Moderna appealed to the US Food and Drug Administration (FDA) for early approval after data showed that its vaccine has a 94% efficacy rate. Moderna Awaits for FDA Approval Before…

ICOs left retail investors in the dark

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Research outfit Xangle has found that a third of sampled retail investors in the United States felt โ€œdeceivedโ€ by initial coin offerings, or that the projects had withheld information from them. Notably, Xangleโ€™s survey is small-scale, based on 600 respondents who invested in an ICO sometime between 2017 and October 2020. The majority (44%) of those surveyed were between 25 and 44 years old, with more women represented than men, at 58%.ย  On this basis, Xangle suggests there is โ€œno such thing as a typical ICO investor,โ€ though it does…

Crypto Exchange Coinbase Outlines Plans to Support ETH 2.0 Staking

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Coinbase said that it will support ETH 2.0 staking rewards in eligible jurisdictions starting from early 2021. Other crypto exchanges like Huobi, Kucoin, and Binance has also made similar announcements. The D-day is finally here as the Ethereum 2.0 Beacon Chain is all set to go live today as per the earlier schedule of December 1. The much-awaited transition to the Proof-of-Stake (PoS) Ethereum 2.0 will commence today. Crypto exchange Coinbase takes the move and announces its plans for supporting the ETH 2.0 staking rewards. In the official blog post,…

South Korea to delay new tax regime on cryptocurrencies until 2022

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The South Korean government has officially postponed a new tax regime on cryptocurrency gains until 2022. According to Yonhap on Dec. 1, the planning and finance committee of South Korea’s national assembly passed amendments to the countryโ€™s tax lawsย  wherein a new cryptocurrency tax regime will come into effect in January 2022. On Nov. 25, the legislatureย suggested delaying the adoption of a cryptocurrency income tax rule to Jan. 1, 2022, instead of October 2021. The decision will provide local crypto businesses with more time to adapt to new tax laws.…

This metric suggests Bitcoin price can go as high as $590K this bull run

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The current Bitcoin (BTC) bull run could send BTC/USD as high as $590,000, one indicator forecast this week. Curated by on-chain analytics resource Glassnode, the Net Unrealized Profit/Loss (NUPL) index has reached a level that has historically launched the Bitcoin price an order of magnitude higher. Unrealized profit chart hits launchpad level The latest bull signal was noticed and uploaded to social media by the companyโ€™s CTO, Rafael Schultze-Kraft, on Nov. 30. At the time, BTC/USD was already making new all-time highs on several exchanges. NUPL currently resides at 0.62.…

Bitcoin Reaches New All-time High, BTC Price Surpasses $19,783

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Bitcoin reaches an all-time high in three years in a 167% year-to-date increase that has been attributed to illiquid BTC and proposed regulatory changes among others. All this happened despite low publicity. Bitcoin has reached a new all-time high three years after December 2017โ€™s $19,783 peak. According to Coindeskโ€™s Bitcoin Price Index โ€“ BPI โ€“ as of 30 November 2020, Bitcoin traded above $19,900. This represents a 167% year to date increase. The cryptocurrency has seen a steady rise in value since Marchโ€™s dip to less than $4000. The ATH…