Day: December 10, 2020

Bitcoin Price at $21,000 Possible? This Chart Analyst Thinks Yes

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Bitcoin could backtrack its way towards $20,000 in the coming sessions, says a chartist at TradingShot, an independent investment advisory firm. A $21,000 Bitcoin In his Wednesday note, the analyst wrote that the benchmark cryptocurrency anticipates undergoing a strong rebound move after testing a short-term support trendline. The trendline serves as a part of an Ascending Channel formation, forming a sequence of higher highs and higher lows. The previous fluctuations allowed the TradingShot analyst to foresee a fractal repeat on Wednesday. Today, the price anticipatedly pulled back after testing the…

Starbucks Expects Strong Earnings Ahead in 2021, SBUX Stock Jumps 4%

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As the world prepares for the COVID-19 vaccine distribution, Starbucks is expecting faster growth in 2021 and the start of fiscal 2020. The company is also reworking its strategy for new locations. Retail coffee giant Starbucks Corporation (NASDAQ: SBUX) is getting back on track as it projects a strong rebound by the year 2022. Starbucks CFO Pat Grismer has reiterated his forecast for the adjusted earnings per share from $2.70 to $2.90. By the beginning of fiscal 2022 i.e. October next year, the company is expecting growth over 20%. The…

France moves to ban anonymous crypto accounts to prevent money laundering

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French financial authorities are strengthening the country’s cryptocurrency regulations in a move to prevent illicit activities like money laundering and terrorism financing. On Dec. 9, several ministries in France jointly introduced an order aiming to prevent anonymous digital asset transactions by banning anonymous crypto accounts. The new regulatory effort is backed by French finance minister Bruno Le Maire, overseas minister Sébastien Lecornu and junior economy minister Olivier Dussopt. The order is pursuant to Article 203 of France’s PACTE law, which stands for the Action Plan for Business Growth and Transformation.…

PUBM Stock Surges Nearly 50% on IPO, Pushes PubMatic Market Value to Over $1.4 Billion

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PubMatic CEO revealed that the coronavirus pandemic had stirred up the decision to become publicly traded after 14 years. Digital advertising technology company PubMatic Inc (NASDAQ: PUBM) stock jumped nearly 50% on initial public offering (IPO). The online advertising company is now trading publicly since its inception in 2006. MarketWatch data showed that the company’s stock today in the pre0market was trading at $29.55. On the 9th of December, PubMatic launched its IPO on the Nasdaq with the ticker “PUBM.” Although each share was priced at $20, trading opened at…

Singapore’s largest bank DBS sets up crypto exchange platform

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After anticipating its plans in October, DBS, Singapore’s largest bank, is establishing a new cryptocurrency exchange division called DBS Digital Exchange. Announced on Thursday, the venture is also backed by SGX, Singapore’s largest derivatives and asset exchange, which owns a 10% stake in the crypto platform. The crypto exchange will only be accessible to institutional and accredited investors, who will be able to trade Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and XRP. In addition, DBS Digital Exchange will provide a platform for tokenizing assets such as shares in unlisted…

Bitcoin For Beginners: What Is Bitcoin Mining & How To Mine Bitcoins?!? November 2020!!

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Today I am making the third video in the bitcoin for beginners series where I will be talking about what bitcoin mining is and how you can start mining bitcoins. Mining in cryptocurrency can be very confusing since many people seem to think that all you have to do is turn on your computer and you will start to get rich but not really knowing what is going on. Someone out there has to support the crypto network and that is what…

‘Not a good signal’ — Bitcoin miner sell-off risk hits highest in 3 years

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Bitcoin (BTC) miners appear to be selling large amounts of BTC once again. Data from CryptoQuant shows that the BTC Miners’ Position Index  — a metric tracking the ratio of BTC leaving miners’ wallets — achieved a three-year high. This trend indicates that miners are likely selling BTC on over-the-counter (OTC) or spot exchanges. Bitcoin Miners’ Position Index. Source: CryptoQuant On Dec. 10, two large miner-linked Bitcoin transactions were spotted right as the Miner’s Position Index abruptly spiked to levels unseen since 2017, according to data from CryptoQuant. First, around…

JP Morgan Analysts Explain Why Bitcoin Price is Falling

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Bitcoin has plunged by almost 9 percent after establishing its new record high near $20,000 last week. And a team of quantitative strategists at JP Morgan & Chase believes that gold is behind the flagship cryptocurrency’s corrective price move. The analysts, including Nikolas Panigirtzoglou, wrote that Bitcoin price correction lags a similar move in the gold market. Therefore, when the precious metal topped out in August 2020, it prompted investors to secure short-term profits and reinvest the winnings into Bitcoin. That explains why the cryptocurrency boomed by approx 100 percent…

FTC sues Facebook in antitrust lawsuit as regulators mount offensive

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The United States Federal Trade Commission has filed a lawsuit against Facebook, Inc., where it alleges that the corporation has been engaging in anti-competitive practices ever since acquiring a dominant global position at the turn of the 2010s. According to public case files released on Wednesday, the regulator believes that Facebook has systematically purchased or reproduced the features of any social media competitor that could have posed a threat to the company’s dominance. The lawsuit cites the 2012 purchase of Instagram and 2014 acquisition of WhatsApp as the most egregious…

Airbnb Prices IPO at $68 a Share, which Brings Its Valuation to $47 Billion

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Airbnb starts trading today on the Nasdaq exchange under the symbol “ABNB.” US vacation rental online marketplace platform Airbnb has made its Initial Public Offering (IPO) debut. The company sold its shares at $68 per each, which is much higher than the originally set price. The pricing sets a valuation for Airbnb of about $47 billion and makes its IPO the largest IPO of the year. Airbnb submitted its IPO filing on November 16. Initially, the company set the price range per share between $44 and $50 and targeted to raise $2.5 billion.…