Markets

Amid Bitcoin market volatility, Morgan Stanley acquires 28,000 GBTC shares getting exposure to the world’s largest crypto. The Wall Street bank has produced strong results and doubled its dividend for the third quarter.As per the recent SEC filing, banking giant Morgan Stanley (NYSE: MS) purchased 28,000 shares of the Grayscale Bitcoin Trust (GBTC). The recent purchase comes through the bank’s Europe Opportunity Fund.The recent purchase comes when Bitcoin has been showing a sideways movement...

On Monday, Facebook hit another eye-popping milestone. The social media company vaulted above $1 trillion in market capitalization for the first time. From its debut market cap of $104 billion in May 2012, this is a far cry. It is a feat that has only been achieved by four other US companies: Amazon.com Inc (NASDAQ: AMZN), Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), and Alphabet Inc (NASDAQ: GOOGL).The singular most important factor which raised the stock price was the...

On Monday, June 26, the US stock market indices continued their uptrend for the second day. Tech-influenced Nasdaq Composite (INDEXNASDAQ: .IXIC) surged by 0.98 % to close at an all-time high of 14,500.51 whereas S&P 500 also ticked up to 0.23% for its third-straight record close. The Dow Jones Industrial Average (INDEXDJX: .DJI) came under intense pressure by energy and transport stocks diving by 150.57 points to 34,283.27 and wiping off its previous gains in the process. Let’s dive...

Ethereum price started a decent recovery wave from the $1,700 zone against the US Dollar. ETH price is now trading well above $2,000 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $1,850 on the 4-hours chart (data feed from Coinbase). The pair is likely to correct further higher towards the $2,275 resistance zone in the near term. Ethereum price is recovering higher above $2,000 against the US Dollar....

ARK Invest, lined with Cathie Wood, a seasoned Bitcoin buyer or bull, has made an application to create Bitcoin ETF in short. ARK Invest, lined with Cathie Wood, a seasoned Bitcoin buyer or bull, has made an application to create Bitcoin’s Exchange Traded Fund a.k.a ETF in short. Using exchanges like Coinbase and the Grayscale BTC Trust, Cathie Wood has bought Bitcoin proxies in the past, but now the ingenious investor thinks and actually intends to own the digital coin. As per the SEC...

Elon Musk – the South African entrepreneur behind billion-dollar companies such as SpaceX and Tesla – and Jack Dorsey, the CEO Of both Twitter and Square, have agreed to meet at an upcoming conference to discuss the future of the world’s number one digital currency by market cap. Elon Musk and Jack Dorsey Will Discuss BTC Together Both Elon Musk and Jack Dorsey have contributed greatly – in both negative and positive ways – to the bitcoin and crypto scene. Dorsey’s...

Guggenheim’s chief investment officer Scott Minerd is predicting that bitcoin, the world’s number one digital currency by market cap, could fall to even lower levels in the coming weeks. Scott Minerd Offers a Case of Gloom and Doom for BTC During a recent interview, Minerd claimed that bitcoin has not bottomed out yet, despite losing approximately 50 percent of its value since mid-April. He says that he is confident the price of BTC could drop to about $15,000 at some...

The financial analyst and Global Head of Equity Strategy at Jefferies – Christopher Wood – opined that the Chinese officials want no competition for its digital renminbi. That is why they enforced the crackdown on bitcoin and other cryptocurrencies lately. China Cares About its CBDC Not Carbon Footprint Christopher Wood – the prominent financial analyst focused on the Asian market – surmised that there is more to the story behind China’s negative stance against crypto mining...

Last week, Bitcoin crashed following China’s decision to ban crypto mining in the country. For the first time since January, Bitcoin was trading below $30,000. While the price of Bitcoin has recovered a bit, investors remain uncertain about the possible direction the market could take. China, being the biggest Bitcoin market in the world, has decided to continue its massive crackdown on crypto miners in the country. The impact of China’s decision on the trading market...

With the larger iPad models, Apple might seek to blur the gap between the Mac and the iPad models in the future.During the recent edition of the Power on Newsletter, Mark Gurman said that Apple Inc (NASDAQ: AAPL) is exploring future iPad designs with larger displays. The existing iPad Pro has a 12.9-inch diagonal display. Gurman also notes that the alleged iPad under development might takes years to hit the market.Gurman believes that the potential release couldn’t even happen by 2022-end....