Day: December 30, 2022

5 Economic Predictions for 2023

Following periods of badly managed economic policies, including external factors such as Russia’s invasion of Ukraine, the price of crucial commodities has skyrocketed in Europe. Following a rather turbulent couple of years for many world economies, investors and analysts are looking to next year and trying to forecast some economic changes we may experience. It cannot be easy to calculate predictions over 12 months as it is an incredibly long time for economies. A lot can happen, however, based on what we have seen during the last 12 to 18…

MicroStrategy Shares Sink to Lowest Level Since 2020 Following Bitcoin Sale Revelation

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MicroStrategy saw its shares plummet to their lowest level for more than two years after a recent BTC filing. Shares of MicroStrategy Inc (NASDAQ: MSTR) recently hit their lowest level since August 2020 following its first-ever Bitcoin sale. MicroStrategy’s stock dropped 1.1% to $136.63 Thursday and is at a 75% drawdown year-to-date (YTD). In a recent filing, the cloud-based business intelligence company disclosed that it sold 704 BTC on December 22nd for $11.8 million. According to MicroStrategy, it sold the Bitcoin for tax purposes but re-purchased 810 more two days…

European Stocks Closes 2022 on Bearish Sentiment Fueled by Macroeconomic Factors

The European stocks have experienced more headwinds in the past few months after the Kremlin imposed an indefinite oil cut-off to Eurozone countries. European stocks are set to close 2022 on a bearish sentiment as global markets prepare to close trading later today. Fueled by the ongoing Russia-Ukraine war, record high inflation, and tightening monetary policy, the Euro economic zone is set to experience more headwinds in 2023 and forward. Moreover, the Euro to US dollar derivative has been below the ratio of 1 for the first time since the…

Cathie Wood Stacks Up Additional $5M Worth of Coinbase Stock

Many investors on Wall Street are increasingly becoming bullish about the crypto ecosystem and the technology powering the different digital assets. Prominent fund manager, Cathie Wood has acquired an additional 158,000 shares of Coinbase Global Inc (NASDAQ: COIN) worth a total of $5 million as the trading platform’s stock continues to take a beating when compared to its spot price earlier in the year. Despite the 6.92% close on Thursday pushing the stock to a price of $34.78, Coinbase (COIN) is still trading around its lowest, having dropped as much…

VanEck Suspends Russia ETFs Due to Prolonged Inactivity after Russia’s Invasion of Ukraine

Investment firm VanEck recently suspended two Russia ETFs as Western sanctions bite hard on profitability. New York-based asset manager VanEck is liquidating its Russia exchange-traded funds (ETFs) following a lack of Western investment interest. According to VanEck, since the Russian-Ukraine strife began, US investment in Russia has effectively dried up. The Russian market has taken a hit since the country invaded neighboring Ukraine, with Moscow’s stock market closing temporarily. Furthermore, the ongoing Western sanctions against Russia essentially prohibit its major stocks, including Gazprom, from trading in the West. This unsavory…

Bitcoin Predictions For 2023 By Arcane Research

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Historically, 2022 could end up being the second-worst year for Bitcoin since 2011. At the current price, BTC has a year-to-date (YTD) performance of -65%, topped only by 2018 when the price lost -73% in one year. As Arcane Research notes in its year-end report for 2022, physical gold (-1% YTD) has significantly outperformed digital gold, Bitcoin, in a period of high inflation. As a result, the analytics firm notes that the digital gold narrative was premature. As Arcane Research notes, the crypto winter was essentially fueled by tightening macroeconomic…

Investors seek to sell FTX, Celsius, BlockFi, Voyager claims

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Instead of waiting for a lengthy bankruptcy process, some investors who have claims on FTX, Celsius Network, BlockFi and Voyager Digital are looking to pass on their claims to others.  Data from crypto claims trading startup Xclaim shows that there are at least hundreds of investors who have been affected by the recent collapses of crypto platforms FTX, Celsius, BlockFi and Voyager who do not want to wait for a lengthy bankruptcy process that doesn’t guarantee that they will even be able to get anything. The investors have listed their…

Baidu Secures License for Its Beijing-based Driverless Robotaxi Tests

Baidu believes that its Robotaxis should eventually cost half of the cost incurred in a commercial car with a driver. Earlier today on Friday, December 30, China’s largest search engine and tech giant Baidu said that it has secured the first license to test driverless vehicles on the roads of Beijing. As a result, the company is planning to add an additional 200 Robotaxis to its wide network across China over the coming year 2023. Baidu Conducts Robotaxi Tests in Beijing Headquartered in Beijing, Baidu generates most of its revenue…

Ethereum needs to defend $1,180 to sustain this 50-day ascending pattern

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Ether (ETH) has been ranging near $1,200 since Dec. 17, but an ascending trend has been quietly gaining strength after 50 consecutive days. The pattern points to $1,330 or higher by March 2023, making it essential for bulls to defend the current $1,180 support. Ether/USD 1-day candle chart. Source: TradingView The anxiously awaited migration to a Proof of Stake in September 2022 paved the way for additional layer-2 integration and lower transaction costs overall. Layer-2 technologies such as Optimistic Rollups have the potential to improve Ethereum scalability by 100x and provide…