Markets

Veteran market strategist Jeff Saut recently made a bold prediction that the S&P 500 index will skyrocket in the upcoming year to over 4,000.Having in mind Bitcoin’s increased correlation with the prominent US index, such a surge could be considerably beneficial for BTC’s price as well.Saut: The S&P 500 Above 4,000 Within A YearSaut, who is Capital Wealth Planning’s chief investment strategist, has been traditionally bullish on the US economy and the S&P 500 in particular. In his...

Ethereum price is now trading in a positive zone above the $234 pivot level against the US Dollar.ETH price is currently correcting lower from $244, but it is well above the $235 level.There was a break above a crucial bearish trend line with resistance near $230 on the 4-hours chart (data feed from Coinbase).The pair could correct lower, but the $234 and $232 levels are likely to protect heavy losses.Ethereum price is trading with a bullish bias above $234 against the US Dollar. ETH/USD must...

The past 24 hours were somewhat positive for most financial markets, including the cryptocurrency field. While Bitcoin was on the rise and gained $300 intraday, the S&P 500 index and the Dow Jones are up by nearly 2%. Nasdaq marked a new all-time high after an increase of 2.2%Crypto Market Goes UpAlthough Bitcoin was fighting to remain above the coveted $9,000 mark hours ago, the bulls managed to gain control and pushed it upwards. The primary cryptocurrency registered price increases as...

Nearly the entirety of global commerce involves real estate in one way or another. Besides creating spaces for people to live in, real estate developers provide production facilities and office spaces for companies and traders, thus being involved in the distribution of almost all goods and services. It is, therefore, no wonder that an estimated three-quarter of the global wealth is locked up in real estate assets.The use of the word “locked” in this context is deliberate, as it describes...

According to some analysts, bitcoin is stuck in a dark place, but millennials can potentially pull the world’s number one cryptocurrency by market cap out of its present funk and help it reach new heights.Millennials Are the Answers to BTC’s Present ProblemsAs it stands, many crypto experts and analysts see millennials as the answer to many of bitcoin’s problems. One of the biggest issues for BTC at the time of writing is that it is widely considered to lack legitimacy when compared with USD,...

Brazil’s CVM Says no to Binance Futures Trading: In a statement released on Monday, the Comissão de Valores Mobiliários (CVM) — Brazil’s securities regulator — announced the ban on Binance crypto derivatives trading in the country. According to the CVM, Binance is not authorized to offer securities trading in Brazil.For the CVM, crypto derivatives constitute a securities offering regardless of whether the underlying asset like Bitcoin (BTC) is not a security. Following the statement, Binance...

Kraken’s London-based subsidiary, Crypto Facilities, has reportedly become the first firm to get a trading license from the UK regulator, the Financial Conduct Authority (FCA).Kraken’s Crypto Facilities Becomes First in Europe With Trading LicenseAccording to Financial News on Monday (July 6, 2020), the Multilateral Trading Facility (MTF) license will enable the crypto futures platform to offer its derivatives market to institutional investors. Timo Schlaefer, Chief Executive at Crypto...

Bitcoin has a new fan. Comedian Bill Burr, arguably one of the biggest comedians in the world following his Netflix special “F Is for Family,” announced that he is going to invest in the world’s number one digital currency by market cap after speaking with bitcoin bull and investor Anthony Pompliano.Anthony Pompliano Can Chalk Up Another Investor to His CreditPompliano was recently a guest on Burr’s podcast, and after a conversation that lasted more than an hour and 25 minutes, Burr found...

Amazon (AMZN) stock is trading at over $3,000 now. Analysts say that the stock has enough power to move even higher soon.Amazon.com Inc (NASDAQ: AMZN) stock has shown an impressive run this year, gaining 57% year to date. Some market analysts say the stock value would go even higher. The company’s stock made gains on Thursday reaching another all-time high of $2,955.56. The recent gains by the stock have boosted the value of Jeff Bezos‘s wealth by $57 billion. Today Amazon stock has managed...

Tesla – the car company brought to fruition by South African entrepreneur Elon Musk – now has a total market cap exceeding bitcoin, the world’s number one cryptocurrency by market cap.Elon Musk Sees His Company Grow to New HeightsThe news broke on July 2 when Tesla shares soared following a report that the company had sold more than 90,000 individual vehicles during the second quarter of 2020, well beyond any analyst’s expectations. The car company is now slated to move up into “Amazon...