Markets

Bitcoin fell by a sharp 10% today as it lost over $5000 over the past 48 hours. The primary cryptocurrency was trading inside a symmetrical triangle pattern since the market capitulation took place in mid-May when BTC fell by 50% from a high of $59,600 to a low of $30,000 in just nine days. Since then, BTC traded inside the consolidation phase for a total of eighteen days until it broke the lower boundary of the triangle yesterday. This can be clearly seen on the following...

Ethereum price failed to surpass $3,000 and started a fresh decline against the US Dollar. ETH price is now trading below $2,600 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near $2,780 on the 4-hours chart (data feed from Coinbase). The pair is likely to continue lower towards $2,300 or even $2,000 in the near term. Ethereum price is slowly moving lower below $2,500 against the US Dollar. ETH/USD could extend...

According to MicroStrategy, the bonds will be completely and categorically secured on a senior basis by the company.Enterprise analytics company MicroStrategy (listed as MSTR on Nasdaq) announced on Monday, June 7, 2021, its intention to make available senior secured notes amounting to about $400 million to institutions and buyers who qualify legally via a private offering.The company claimed that the private offering would depend on market conditions. As such, the announcement does not come...

Despite calling them volatile and energy-intensive to use as a means of payment, the Indian tech executive Nandan Nilekani advised the local government to accept cryptocurrencies as an asset class. He opined that the move would boost the country’s economy. Crypto Like a Commodity In a recent interview for the Financial Times, the Indian billionaire Nandan Nilekani – co-founder and chair of Infosys – appealed to the local authorities to embrace cryptocurrencies as an asset...

Seeking to pioneer a change in how various aspects of the crypto market works, Hybrix incorporates a ton of unique features that will see it take over the market.The crypto market albeit worth over $2 trillion can be said to be at its take-off stage. With over 6600 cryptocurrencies actively trading on the market as reported by CoinGecko, there are limitless opportunities for the unprecedented growth of this market.Whilst achievable, a ton of problems plague this market. First, it is almost...

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...