Category Archives: Markets

Bitcoin hits a new all-time high after six months.

 Bitcoin hits a new all-time high after six months.

  Bitcoin since April this year, the first time exceeded the $ 600 million mark because there is growing optimism that US regulators will approve only for this first US encryption currency futures exchange-traded funds. According to Bloomberg data, the digital currency rose by more than 40% month-on-month, reaching $62,553 at 20:50 on the 15th GMT. Bloomberg reported that the US Securities and Exchange Commission might allow this ETF to be traded next week. Since 2013, the US Securities and Exchange Commission has rejected attempts to create a Bitcoin ETF.
Edward Moya, a senior market analyst, said: “The approval of the Bitcoin ETF by the US Securities and Exchange Commission will be a major moment for the cryptocurrency industry, as it may be a key driving force to attract the next wave; of cryptocurrency investors.”
XTB online trading analyst Walid Kudmani said: “This is a key development in the field of cryptocurrency because it will allow many investors who are on the sidelines to enter the market more traditionally.” Other countries also have. Some ETFs include Bitcoin, but Bitcoin ETFs in the United States will take cryptocurrency to another level. (Interface News)

Bitcoin is frozen, whilst Gold expected to rise.

Bitcoin is frozen, whilst Gold expected to rise. Can it reach 10,000 US dollars in extreme cases?

May 27 – Huitong.com According to Scott Minerd, chief information officer at Guggenheim, as cryptocurrency prices fell and investors returned to gold and silver, the final gold price target was set at the US $5,000 to the US $10,000. Minerd also forecasts a 10% correction in US stocks over the next six months but added that the S&P 500 index would eventually reach 5000 points, if not higher.

On May 26, Guggenheim Chief Information Officer Scott Minerd stated that as cryptocurrency prices fell and investors returned to gold and silver, precious metals would gain momentum, with the final gold price target set at the US $5,000 to $10,000.

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“As funds exit the cryptocurrency market, people will continue to seek inflation-hedging instruments, and gold and silver will be better choices,” Minerd said in an interview.

According to Minerd, this will take time due to the size of the gold market, but the precious metals will enter an “exponential rise.”

He added that the ultimate goal for gold is a price of between US $5,000 and $10,000 per ounce.

Silver’s price typically lags. This is the poor man’s gold. It may also surpass gold as the most valuable precious metal. It is a version of gold with a high beta.

When discussing the future of cryptocurrencies, Minerd stated that while he believes Bitcoin and Ethereum will endure, new cryptocurrencies will likely dominate the digital asset space.

Additionally, he stated, “We will discover that some new cryptocurrencies will emerge for an extended period.” It can resolve several of the issues we are currently facing, including mining costs and total carbon production. It will develop into a high-level cryptocurrency and eventually become the dominant one.”

Minerd also forecasts a 10% correction in US stocks but predicted that the S & P 500 index would eventually recover.

“I believe the US stock market will experience a correction,” he stated. I believe that the US stock market will experience a 10% correction over the next six months. However, I think the S & P 500 will eventually surpass 5000 points. It could even be more extraordinary.

At 8:44 a.m. Beijing time on May 27, spot gold was quoted at $1,894.59 per ounce.

Gold continued to test the 1890 level today!

Last Friday, Gold staged another roller coaster ride. As expected, the US market surged higher and halted. The 1889/90 position fell and then retreated. It repeatedly failed to test the low point support in 1870. It came to a halt, stabilized, and rebounded here. Late Friday, more orders were traded in the 1873 area. Today, Monday, the quotation begins at the year 1882 and harvests! Gold fell at the end of last week, but it got off to a good start this week. Even in 1890, gold encountered resistance. The suppression has been prompted numerous times, and it is still focused on today. At the moment, the gold top is still meeting resistance at the 1890 level, and the situation is shocking. Early trading suggests that gold is not attempting to reach new highs. This can be relied on to suppress the short-term. Look for 1870 to act as a support law and multiple bullish signals in the chart below. Treat in shock within the range. A new wave will emerge after breaking through in 1890. More orders will be followed up on! Last week, gold closed at the extensive Yangxian line once more. The current 1870 position is supported. It did not break the position after touching this position after falling twice on Friday. The deep market V then retraced its steps, continuing to test the 1890 level today! Because the current trend is still upward, try to focus on low and long operations, but if you don’t break through before 1890, don’t chase long. Instead, they retreat and rely on the support of 1870 to last. Early trading caused the short of Bo to be suppressed in 1890, and it is now hitting 1877/. The 75 areas left the field and then returned around 1875, bullish with support at 1870! Today’s gold business ideas: Backhand close 1875 to do more protection in 1868, target the 1885-90 area; gold 1885-90 empty orders left the field in the 1877/75 area; gold 1885-90 deserted orders left the field in the 1877/75 area; gold 1885-90 open orders left the field in the 1877/75 area; gold 1885-90 open orders left the field in the 1877/75 area; gold 1885-90 empty orders left the field in the 1877/75 area; gold 18

Matt Levine: Tesla Sold Some Bitcoins

Matt Levine: Tesla Sold Some Bitcoins, as well as the deli, the first tax law, a JPMorgan Bitcoin fund, and Dogecoin versus lottery tickets. Mr. Levine: There’s a lingering suspicion that it’s unethical to buy something, say you like it, and then sell some of it. Tesla sold 10% of its holdings primarily to demonstrate Bitcoin’s liquidity as an alternative to holding cash on the balance sheet, he claims. On the earnings call, Chief Financial Officer Zachary Kirkhorn stated, “We’ve been quite pleased with how much liquidity there is in the Bitcoin market.” “Do people want to be upset about this?” Levine wonders. “I suppose it wanted to make sure its money wasn’t trapped. That is a valid concern!”

Elon Musk purchased Bitcoin, sold it when the price rose, and then tweeted about it. David Wheeler: There’s no evidence that Tesla or Musk lied about anything. Wheeler: It’s a great business if you can buy something secretly, announce “I own the thing,” and then sell it secretly. Tesla purchased approximately $34,700 per Bitcoin in late January and early February, and sold approximately $272 million, he claims. That’s an extra $101 million in real US dollars that came in from profitably selling Bitcoin.

In the first quarter of 2021, Tesla made $1 billion on Bitcoin. Aaron Schiller: Because the majority of those gains were unrealized, they do not count for accounting purposes. He claims Tesla has $900 million in unrealized Bitcoin profit that it could cash in at any time. Schiller claims that moving the price of cryptocurrency with his tweets is simple and profitable.

Wall Street ends lower after Fed holds steady on rates.

(Reuters) – Wall Street ended lower on Wednesday after the U.S. Federal Reserve held interest rates and its monthly bond-buying program steady and gave no sign it was ready to reduce its support for the recovery.

Despite the improving economy, the Fed repeated the guidance it has used since December, saying it must see “substantial further progress” towards its inflation and employment goals before stepping back from its monthly bond purchases.
“The Fed underscored a lot of uncertainty remains. In this kind of a backdrop, with inflation being transitory, they’ll continue to be pedal to the metal in terms of monetary policy,” said Kevin Flanagan, head of fixed income strategy at WisdomTree Funds.
The S&P 500 briefly rose to an intra-day record high after Fed Chair Jerome Powell said in a press conference that it was “not time yet” to discuss reducing the Fed’s support for the recovering economy.
U.S. President Joe Biden is expected to unveil a sweeping $1.8 trillion package for families and education in his first joint speech to Congress on Wednesday, senior White House officials said.

Google parent Alphabet Inc rose 2.9% and closed at a record high after reporting late on Tuesday a record profit for the second consecutive quarter and announcing a $50 billion share buyback.
In extended trade, Facebook jumped nearly 6% after the social media heavyweight reported quarterly revenue that handily beat analysts’ expectations. Investors were also awaiting Apple’s results.
The Dow Jones Industrial Average fell 0.48% to end at 33,820.38 points, while the S&P 500 lost 0.08% to 4,183.18.
The Nasdaq Composite dropped 0.28%, to 14,051.03.

Microsoft Corp’s quarterly report late on Tuesday met sales expectations and beat profit estimates, but its shares fell 2.8% and pressured the Nasdaq due to skepticism about one-off benefits included in the results and high hopes after a year-long rally.
A 7.2% drop in Amgen Inc weighed on the Dow after the biotech said its first-quarter sales and profit fell due to a 7% drop in its net drug prices and a hit from the COVID-19 pandemic.
Boeing Co fell 2.9% after posting a wider-than-expected quarterly loss and pausing 737 MAX deliveries over an electrical issue that has partly re-grounded the fleet.
Overall earnings per share for S&P 500 companies in the first quarter are expected to jump 39% from a year earlier, according to Refinitiv IBES data.

Advancing issues outnumbered declining ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.25-to-1 ratio favored advancers.
The S&P 500 posted 80 new 52-week highs and no new lows; the Nasdaq Composite recorded 113 new highs and 22 new lows.
Volume on U.S. exchanges was 9.5 billion shares, compared with the 9.9 billion full-session average over the last 20 trading days.

THE 23rd OF APRIL Market Review

GOOD AFTERNOON

The markets got off to a strong start on Thursday, with the most significant indices up nearly a full percent at the day’s peak. Better-than-expected earnings from Whirlpool, Tractor Supply Company, and AT&T boosted morale, as did a lower-than-expected jobless claims survey. As recruiting activity increased, the number of new jobless claims suddenly dropped to a new low. However, the good news was ruined later in the day when President Biden revealed a new tax package.

President Biden’s latest initiative would tax capital gains on wealthy individuals at approximately 40% to fulfil a campaign promise. The news caused the markets to reverse course, with the S&P 500 losing roughly 1.0 percent by the end of the day. If the market cannot cope with this new growth, a much deeper correction could be in store. The danger now is that stock selling will pick up on Friday, taking the index below its most recent support level.

Bitcoin sinks below $50,000, Biden tax plans burden the Crypto Market.

The selloff came after reports that the Biden administration planned a raft of proposed changes to the US tax code.

Cryptocurrencies such as Bitcoin and Ethereum lost a huge amount of their value in today’s trading due to worries that US President Joe Biden’s tax plan will hurt asset investment. Bitcoin, the first and most popular, fell 5 per cent to $48,8867, falling below $50,000 for the first time in more than a month, while smaller rivals Ether and XRP lost around 7 per cent.

Biden administration officials have been reported to be planning a raft of tax code changes, including a plan that nearly doubles taxes on capital gains to 39.6% for people earning more than $1m.

The biggest cryptocurrency by market value, Bitcoin, fell 5% to $48,8867 in the past 24 hours, falling below the $50,000 mark for the first time in over two months.

Rivals Ether and XRP dropped around 7% as well.

Investing in stocks and risk assets, which have rallied on hopes of a strong economic recovery on the back of tax plans, has tinged markets, prompting investors to book profits.

Increases in investment gains taxes were reported to be on the way.

“Bitcoin headed south today after President Biden signalled that he wanted to raise capital gains tax in the US,” said Jeffrey Halley, senior market analyst, Asia Pacific, at OANDA.

He also stated, “Whether that happens or not, many bitcoin investors are probably sitting on some significant capital gains if they stuck with it over the last year”.

“I firmly believe that developed market regulation and/or taxation remain the crypto markets’ Achilles Heel,” he added.

Bitcoin is on track for a 15% loss on the week, though it is still up 65% since the start of the year.

Ether fell more than 10% on the day to as low as $2,107, just a day after reaching a new high of $2,645.97.

Although social media lit up with posts about the plan hurting cryptocurrencies, and individuals complained about losses, some traders and analysts said the declines were temporary.

“I don’t think Biden’s taxes plans will have a big impact on bitcoin,” said Ruud Feltkamp, CEO of automated crypto trading bot Cryptohopper. Another quote by him is: “Bitcoin has only gone up for a long time, it is only natural to see a consolidation. Traders are simply cashing in on winnings.”.

Another analyst noted that bitcoin’s prospects are still bright, but it will take some time before prices start rising again.

Shares of cryptocurrency exchange Coinbase also dropped around 4% to $282 in US pre-market trading, marking the lowest level since its listing earlier this month.

Bitcoin’s market cap had soared to $65,000 before falling 25% a few days later.

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S&P 500 flatlines while Dow and Nasdaq moderates

The Dow and the major U.S. indexes fell on Monday as the Dow technology stocks tumbled.

Major Wall Street leading indices closed lower at the close, with the Dow Jones Industrial Average (DIA) down 55.20 points, or 0.2%, at 33,745.40.

Losses were concentrated in communication services, information technology, and energy stocks. The broad S&P 500 Index (SPY) of large-cap stocks closed at 4,127.99.

The technology-focused Nasdaq Composite Index (QQQ) rose 0.5% to close at 13,900.19.

A measure of implied volatility known as the CBOE VIX (VXX) edged slightly higher on Monday. The so-called “investor fear index” reached an intraday high of 16.91 on a scale of 1-100, where 20 represents the historical average. It would eventually settle up 1.3% at 16.91.

In commodities, oil prices rose on Monday, with U.S. West Texas Intermediate futures gaining 45 cents, or 0.8%, to $59.77 a barrel on the New York Mercantile Exchange. Brent, the international futures contract, rose 40 cents or 0.6%, to $63.35 a barrel.

In precious metals, gold prices declined on Monday, as the June futures contract dipped $12.60, or 0.7%, to $1,732.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Silver futures fell 48 cents, or 1.9%, to $24.85 a troy ounce.

Still, markets continue to be supported near all-time highs despite Monday’s modest pullback. Investors are pushing up share prices on optimism the U.S. economy is regaining momentum.

The CBOE VIX Volatility Index rose on Monday.

A slight increase in volatility was reported on the VIX index on Monday.

On Friday, the CBOE VIX (VXX) edged higher as the S&P 500 Index paused following a record-breaking rally.

In an intraday high, VIX, a Chicago Board Options Exchange volatility index, reached a level of 17.91 out of 100, where a 20 represents the historical average. VIX would ultimately fall 1.3% to 16.91.

In stocks, the large-cap S&P 500 Index (SPY) flat-lined on Monday.

iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA: VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second-month VIX Futures contracts. VXX declined 1.5%.

ProShares Short VIX Short-Term Futures (SVXY) to track the S&P 500 VIX Short Term Futures Index’s inverse daily performance. SVXY advanced 0.9%.

ProShares UltraShort Term VIX Futures: UVXY expects to return 1.5X (leveraged) the S&P 500 VIX Futures Index today. Those are the two months of the UVX futures contract. UVX dropped 1.7%.

It is said that the U.S. economy is slowly starting to recover from the COVID-19 pandemic. Over the past week, more than 31 million people have fallen ill with the disease.

MONDAY, APRIL 12th Markets Review

With the S&P 500 ending Friday’s session at a new all-time high and near the high of the day and the week, the U.S. stock market closed out the third week of gains on a high note last week. The tech sector led the move even though the NASDAQ continues to lag behind the broader market. Both the Dow Jones Industrial Average and the Transports moved past new all-time highs. Expectations for robust earnings in Q1 drove the markets; however, some suggest that The Q1 earnings are already priced.

As Earnings season starts this week, about 3.0% Of the S&P 500 companies have reported calendar Q1 earnings, and the results have exceeded expectations. Answering the question is whether or not this trend will continue and by what margin. S&P 500 companies that fail to impress could cause the market to correct. Global economies are still being affected by COVID, so there is no certainty, which does not bode well for the stock market.