Markets

Bitcoin Bitcoin saw a small 2.6% price increase from where it was trading seven days ago. However, it had dropped substantially throughout the week. The cryptocurrency fell beneath support at the rising trend line to find additional support at the $6,447 level (short term .618 Fib Retracement). From here, Bitcoin rebounded yesterday to climb back above the $7,000 level where it currently trades. Looking ahead, the first level of resistance lies at $7,200 (bearish .5 Fib Retracement). Above...

General Electric (GE) and Ford (F) stocks jumped by over 5.50% on Friday, as companies signed a $336 million federal contract to make ventilators urgently needed for coronavirus patients.General Electric (NYSE: GE) and Ford Motor Company (NYSE: F) stocks jumped over 5% after the market opened on Friday, April 17, 2020. The rise is strongly attributed to the $336 million federal contract which they signed to make 50,000 ventilators for the coronavirus patients. Breaking down the cost, one...

Coinbase Custody has stated that it will add support for the newly announced Compound Governance protocols which aims at moving towards a decentralized finance model.As the crypto industry continues to drive institutional interest, Coinbase is working on strengthening its Coinbase custody platform. On Thursday, April 16, Coinbase Custody announced support for Compound, an open finance money market protocol.This announcement from Coinbase Custody comes on the sidelines of Compound announcing...

Microsoft (MSFT) rose by 3.0% on April 16 as the company lands a deal with the NBA to tap on the Azure public cloud and to use its Surface device.Microsoft Corporation (NASDAQ: MSFT) stock rose by 3% on Thursday, April 16, to trade slightly above $177.04. Today, in the pre-market, it is up another 2%. The stock is almost fully recovering from the coronavirus market shock that saw it shed all the gains made since November 2019. The company has been evolving in a positive way to adapt fast with...

Binance, the world’s leading cryptocurrency exchange, published a new white paper for a solution called Binance Smart Chain. It’s a new blockchain that will run in parallel to Binance Chain and will also support smart contract functionalities. Binance Announces Smart Chain Blockchain In a recently published whitepaper, Binance announced the development of Binance Smart Chain – a new blockchain that will support smart contract functionality. The new network is described as an innovative...

Facebook (FB) stock is on the rise for the past few weeks, Zuckerberg decided to cancel events involving more than 50 people and to allow employees to work from home through summer.Facebook Inc (NASDAQ: FB) stock has been defying gravitational pull by the coronavirus since the mid-March reversal after hitting this year’s new all-time low. As of April 16, the stock closed the day trading at $176.25, having ended the day 0.41% lower than the previous day. However, today in the pre-market, FB...

The most widely used American cryptocurrency exchange, Coinbase, reported increased $1,200 deposits yesterday. Interestingly, this coincides with the stimulus checks for the same amount that the U.S. government began sending this week to fight the financial struggles caused by the coronavirus pandemic. Record $1,200 Coinbase Deposits According to data provided by Coinbase CEO Brian Armstrong, the popular exchange received a record number of $1,200 deposits yesterday. Coinbase $1,200...

Bitcoin saw a notable increase in its price yesterday, conquering the $7,000 level, and it did a good job staying above so far. Meanwhile, the futures on legacy markets are also in the green, as news broke out that the Gilead coronavirus drug supposedly shows effectiveness. Bitcoin Price Above $7,000 As Cryptopotato reported yesterday, Bitcoin marked a steady increase upwards of $550 in 90 minutes to surge over $7,000. At the time of this writing, the cryptocurrency is trading just shy of...

Bitcoin cash price started a fresh increase from the $206 weekly low against the US Dollar.The price is up more than 10% and it broke the key $230 resistance area.There was a break above a major bearish trend line with resistance near $230 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase).The pair is likely to continue higher towards the $245 and $250 resistance levels.Bitcoin cash price is showing a few bullish signs above $230 against the US Dollar. BCH/USD bulls seem to be...

Amazon CEO Jeff Bezos says the company is developing COVID-19 testing capabilities to keep a record of all its employees globally. Amazon (AMZN) stock price is rising over 3% today.Amazon.com Inc (NASDAQ: AMZN) CEO Jeff Bezos says the online retail company is setting up COVID-19 testing capabilities as a precautionary measure to keep all employees globally safe. The company has experienced a surge in both sales and stock market in the past few weeks after coronavirus began pushing more and...