Tag: Analyst

Bitcoin ‘under siege’ by BRC-20 coins as fees soar, claims analyst

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Increased fees and a backlog of transactions are besieging the Bitcoin (BTC) network and it’s due to a popular new “token” standard according to a CryptoQuant analyst. On May 9, Axel Adler Jr, an analyst with the crypto data firm, explained that BRC-20 memecoin minting on the BTC blockchain is causing the surge in block space demand, adding: “Unlike conventional token standards, such as Ethereum’s ERC-20, BRC-20 does not utilize smart contracts and operates only with wallets supporting the Bitcoin blockchain.” According to CryptoQuant, the average fee per transaction skyrocketed,…

Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’

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Bitcoin (BTC) slid below $29,000 around the May 4 Wall Street open as United States equities showed jitters over the resurgent banking crisis. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Too much all at once” for U.S. banks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing ground as the S&P 500 shed 0.7%. The risk asset comedown accompanied more mayhem for U.S. regional bank stocks, withe PacWest Bancorp once again leading the way, falling over 50% on the day. The embattled lender had already seen major losses, and…

Shell Q1 2023 Report Surpasses Analyst Expectations, Adjusted Earnings Hit $9.6B

In 2022, the Big Oil companies, including TotalEnergies, ExxonMobil, Chevron, BP, and Shell smashed their previous year’s earnings. The Q1 2023 fiscal report by the British oil giant Shell (LON: SHEL) surpassed expectations, cruising analysts’ predictions. In the recent report, Shell announced adjusted earnings of $9.6 billion for the first three months of the year. The performance is in continuation of its current bumper results run after commodity prices surged in 2022 due to Russia’s full-scale invasion of Ukraine. According to Refinitiv, analysts expect Shell to announce $8.6 billion in earnings…

Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences – Economics Bitcoin News

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Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve currency, and this could cause a flight to safety. Charles Nenner Predicts End of USD Hegemony The U.S. dollar will be undermined as a reserve currency; this is what Charles Nenner, a financial cycles analyst, has predicted…

Analyst – Economics Bitcoin News

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Fitch Solutions’ global head of country risk has named the rising adoption of cryptocurrencies, the de-dollarization efforts by the BRICS countries, and China’s rising “economic might” as key factors that erode the U.S. dollar’s dominance over time. He cautioned that China will “exert more influence in global financial institutions and trade.” Analyst Explains Why U.S. Dollar’s Dominance Is at Risk Fitch Solutions’ global head of country risk, Cedric Chehab, explained why the U.S. dollar’s dominance is declining in an interview with CNBC on Sunday. Fitch Solutions provides financial information services;…

Bitcoin Surge Parallels Price Movement in 2019: Analyst

In a research note to clients last week, Lunde wrote that bitcoin could reach $45,000. BTC was currently trading at about $29,440, down 2%, although it is up about 80% in 2023. The rebound follows a year of distress, in which multiple major firms declared bankruptcy, sending risk-shy investors fleeing from crypto markets. Source

Bitcoin sparks liquidations as analyst says BTC price may dip 12% more

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Bitcoin (BTC) headed lower into the April 17 Wall Street open as downside began liquidating longs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin’s price tipped for a break below $29,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $29,247 on Bitstamp — its lowest in a week. Gains for Asian stocks failed to rescue the losses on the day, these beginning immediately after the April 16 weekly close. Traders, many of whom had predicted a retest of $30,000 support, were unsurprised, with many hoping that the…

Bitcoin Price Could Peak at $45K in May, Analyst Says

“Bottoms in both cycles lasted for approximately 370 days. And the peak-to-trough return after 510 days of both cycles reached 60%,” Lunde said in a note sent to clients last week. “In 2018, the bear market rally topped 556 days after the 2017 peak, on June 29, 2019, with a 34% drawdown from the peak.” Source

Bitcoin traders in ‘disbullief’ as analyst predicts $30K BTC retest

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Bitcoin (BTC) consolidated into the weekend as market participants stayed optimistic about further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Most still sitting on the sidelines” with Bitcoin Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $30,500 on April 15. The pair had finished the Wall Street trading week on a less volatile note along with fairly flat United States equities. With the ten-month highs of $31,035 remaining in force, traders and analysts considered the options for how BTC price action could play out next. “We’re…