Markets

According to the BOE model, large-scale digital currency introduction could shift the direction of the current retail financial sector.The Bank of England (BOE) has publicized its view on the widespread use of digital currency in the financial sector. According to the BOE, deposits received by retail banks could be populated by digital currencies if governments throw in their weight and begin offering them.The BOE created a model of the banking sector to measure possible changes and effects...

Earlier, retail investors have favored meme stocks like GameStop and AMC, however, now NVIDIA (NVDA) and Plug Power (PLUG) are on the radar of analysts.American technology multinational corporation NVIDIA Corporation (NASDAQ: NVDA), and Plug Power Inc (NASDAQ: PLUG), a New York-based firm engaged in the development of hydrogen fuel cell systems have been picked by two analysts as a high risk, high reward stocks. In an interview with CNBC’s “Trading Nation,” Danielle Shay, the Director of...

The past week saw the shares of AMC rise by 83.45% with that of Gamestop and BlackBerry also climbing by as high as 11.875% and 32.67% respectively.According to a new Reuter’s report, some Wall Street traders have taken to betting against shares of AMC Entertainment Holdings (NYSE: AMC) and other companies, e.g. GameStop Corp (NYSE: GME) and BlackBerry Ltd (NYSE: BB), favored by retail investors.These professional investors are using a wager in the options market that would both limit their...

Regardless of its troubles, executives at Chia Network revealed last month that, the company planned to go public through an initial public offering (IPO) or a special purpose acquisition company (SPAC).Chia coin (XCH) price is down by 3% within the last 24 hours as its plans to go public remains imminent. The digital coin was among losers on the crypto market this past weekend and hasn’t seen any significant price action since it debuted on the crypto scenes. Chia coin peaked at $1,800 on...

Former President of the United States Donald Trump has said that he is not a fan of bitcoin because of the threat the flagship cryptocurrency poses against the U.S. dollar. Donald Trump. Image by BloombergIn a telephone interview on Monday (June 7, 2021), Trump called bitcoin a scam because he did not like that the biggest cryptocurrency by market capitalization was competing against the U.S. dollar. According to the former U.S. President, the dollar’s hegemony status should...

ETH/USD – Market Continues Consolidation Inside Triangle. Key Support Levels: $2715, $2600, $2470.Key Resistance Levels: $2892, $3000, $3135. ETH is up by a substantial 18% over the week as it trades at around $2800 but still resides inside the ascending triangle pattern. The roof is at $2891 (bearish .382 Fib), and ETH has been stuck here for the past fortnight. It tested the upper boundary of the triangle last week but failed to overcome it. As a result, ETH headed lower...

Anonymous stated that Musk’s reckless tweeting against the BTC mining propagated false analysis and made BTC lose potential investors. Anonymous, a famous hacker group operating online that has been noted for targeting fraudulent government and hoax organizations, has recently issued threats to Elon Musk stating his manipulative ways through which he influences the cryptocurrency market.Anonymous called Elon Musk out openly on social media stating that Tesla Inc (NASDAQ: TSLA) has been the...

Progressive Care, a Florida-based healthcare services company, announced today that it has started accepting bitcoin payments for its COVID-19 Rapid Resting services at its PharmcoRx locations. Progressive Care Now Accepting BTC Payments According to the company, the decision was made on the eve of Bitcoin 2021, the world’s largest Bitcoin Conference taking place in Miami this week. The event will attract over 50,000 visitors to Pharmco’s core marketplace in the Miami...

Although the weekend started on a positive note for bitcoin, it continued with price slumps, and the asset plunged by about $3,000 in hours. The altcoins are also deep in red, with ETH dumping below $2,700 and BNB beneath $400 – the market cap lost another sizeable chunk of value in a day. Bitcoin Struggles at $36K The workweek was actually going well for the primary cryptocurrency as it was gaining traction and even jumped to a six-day high of $39,500. However, the inability...

Jan Tore Sanner – the Minister of Finance in Norway – opined that Bitcoin will see better days if it manages to solve its volatility issues. However, he advised investors to stay away from the current crypto market due to enhanced uncertainty. Breakthrough for BTC Contrary to the mostly negative comments coming from policymakers about Bitcoin’s merits, Norway’s Finance Minister – Jan Tore Sanner – surmised that the asset could overcome its instability and achieve a...