Day: September 19, 2020

Forget the President. Senate may matter more for markets
Stock News

Forget the President. Senate may matter more for markets

By Michael P. Regan and Felice Maranz While many investors are zeroing in on the US presidential election in November, a trickier political equation could be even more important in determining winners and losers in markets: which party controls the Senate. Many political analysts at this point expect the Democratic Party to remain the majority in the House of Representatives regardless of who wins the presidential race. Control of the Senate is harder to predict. Of the 100 seats, 35 are up for election this year and Republicans will be defending 23 of them -- with their three-seat majority in the balance. A Senate majority likely brings the power to block or advance the next president’s agenda, making it the “ultimate policy arbiter of 2021,” as Cowen & Co. analyst Chris Krueger put...
A cloud company announces the listing of its coin on Bittrex
Crypto News

A cloud company announces the listing of its coin on Bittrex

Beowulf Blockchain, a decentralized cloud network for communication services, has announced the listing of its coin, BWF, on the Bittrex exchange. Headquartered in Silicon Valley, the company stated that its coin would be available on Bittrex starting Sept. 24. According to Beowulf, listing its coin on the Bittrex exchange would help it decentralize ownership of the blockchain as well as provide an opportunity for people and organizations around the world to become supernodes. The company added that within two weeks of the listing, it would have distributed 100 million BWF coins (worth $1 million) to the community. Beowulf has indicated that it will work with exchanges to establish a supernode network that will allow users of the exchanges to stake their holdings together to form sup...
Dalal Street Week Ahead: Nifty lacking momentum to go higher; stay cautious
Stock News

Dalal Street Week Ahead: Nifty lacking momentum to go higher; stay cautious

The week gone by remained largely uneventful for the markets, as they traded in a narrow range and consolidated. The trading range remained narrow compared with that in the previous weeks. Nifty moved in a band of just 235-odd points, while showing lack of conviction on either direction. The buoyancy was questioned many times at higher levels, but at the same time, Nifty showed resilience as there were weakness on the global landscape. Nifty did make a higher top and a higher bottom during the week, but ended on a flat note. The headline index ended with a net gain of 40.50 points, or 0.35 per cent, on a weekly basis. The week gone by did not see any major directional move on the either side. This ensured that Nifty remains above its crucial support zone at the 50-week and 100-week movi...
Trading implies a lot of challenges and risks that traders face every day
Trading Tips

Trading implies a lot of challenges and risks that traders face every day

Trading may seem easy and attractive to those who have never done it before. That is largely the influence of the media, where the image of a trader or an investor is portrayed as highly glamorous. There are numerous movies and shows about it, so even those who already have some trading experience, still treat it like a game or hope that it is an easy way to make money.  However, it is simply not true. Trading implies a lot of challenges and risks that traders face every day. Everyone has to know about them and be prepared to manage them, in order to avoid unexpected disappointment and instead focus on the important things. Today we are breaking down 5 obstacles that traders may face when they start their journey.  Trading requires (a lot of) studying While it is natura...
Will the CME Bitcoin futures gap buyers at $9,600 be left in tears?
Crypto News

Will the CME Bitcoin futures gap buyers at $9,600 be left in tears?

The recent week has been relatively dull on the price movements of Bitcoin (BTC), as a slow upward trend was established after Bitcoin’s price found a footing at above $10,000. This rally then continued toward $11,000 on Sep. 18 but was pushed back by some short-term resistance levels.  The previous week has been focused solely around Uniswap (UNI) and the airdrop of its token, combined with several listings on high-end exchanges. At the same time, let’s take a look at the price of Bitcoin and its charts to gauge where the cryptocurrency market may be headed in the upcoming week.  Bitcoin is facing a crucial resistance between $11,200-11,400  BTC/USD 1-day chart. Source: TradingView The daily chart of Bitcoin shows the slow upwards grind, which is currently facing a cr...
Trump nominee to replace Ruth Bader Ginsburg on Supreme Court will get Senate vote, McConnell says
Business news

Trump nominee to replace Ruth Bader Ginsburg on Supreme Court will get Senate vote, McConnell says

Senate Majority Leader Mitch McConnell (R-KY) walks to his office on Capitol Hill in Washington, September 10, 2020. Joshua Roberts | Reuters Senate Majority Leader Mitch McConnell said on Friday that he will hold a vote on President Donald Trump's nominee to fill the vacancy left by the passing of Justice Ruth Bader Ginsburg on the Supreme Court. In a statement issued just over an hour after the Supreme Court said that Ginsburg had passed, McConnell said the nominee, who has not been named, "will receive a vote on the floor." McConnell's pledge puts in motion what is likely to be a historic battle over the court in the heat of an already intense election year. The Supreme Court had a 5-4 majority of Republican appointed justices. A 6-3 majority could have a dramatic impact on ...
Pinned below $11K, Bitcoin price plays second fiddle to Uniswap (UNI)
Crypto News

Pinned below $11K, Bitcoin price plays second fiddle to Uniswap (UNI)

As the weekend begins, Bitcoin (BTC) price continues to fluctuate between the $10,800-$11,000 range.  Cryptocurrency daily market performance snapshot. Source: Coin360 Some analysts would say the digital asset has lost momentum but a quick glance at the 1-hour or 4-hour chart shows Bitcoin chugging along sideways in a defined range which is starting to see some compression.  BTC/USDT 1-hr chart. Source: TradingView Despite what appears to be ‘disinterest’ from crypto traders, Bitcoin price is painting higher lows and lower highs and if this pattern continues a breakout should be expected before the weekly close. Of course predicting the direction of this breakout is the hard part.  If the breakout were to the upside, the overhead resistance at $11,150 and $11,600 wi...
Unity Software soars in blockbuster NYSE debut
Stock News

Unity Software soars in blockbuster NYSE debut

Shares of Unity Software Inc soared in their debut on the New York Stock Exchange on Friday, giving the gaming platform a market value of around $18 billion and signaling sustained demand for new stocks. The Silicon Valley startup's stock, which debuted on the New York Stock Exchange at $75 per share, closed at $68.35, well above the $52 per share in its initial public offering on Thursday. "Going public is good for discipline. We can also compensate our employees with more transparency," said Unity Chief Executive John Riccitiello. "We picked the date earlier this year, and we never expected it's going to be a hot IPO market." Unlike most companies that require employees to hold onto the stock for a lockup period following the public debut, Unity allows employees to sell 15% of their ...
Ruth Bader Ginsburg, pioneering Supreme Court justice, dies at age 87
Business news

Ruth Bader Ginsburg, pioneering Supreme Court justice, dies at age 87

Ruth Bader Ginsburg, the pioneering Supreme Court justice who became the second female on the nation's highest court, the leader of its liberal wing and a pop culture icon known as Notorious R.B.G., has died. She was 87. The vacancy enables President Donald Trump to nominate his third justice to swing the bench further to the right, setting up what's certain to be a colossal battle perhaps even bigger than those of his nominations of Neil Gorsuch and Brett Kavanaugh. According to NPR, days before her death, Ginsburg told her granddaughter: "My most fervent wish is that I will not be replaced until a new president is installed." Ginsburg had a history of medical problems. In December 2018, doctors removed two cancerous nodules from her left lung, and she underwent additional treatment ...
More pump than dump: 22% UniSwap (UNI) price drop doesn’t faze traders
Crypto News

More pump than dump: 22% UniSwap (UNI) price drop doesn’t faze traders

Earlier today Yearn.finance (YFI) and Ether (ETH) rose sharply after Uniswap’s governance token UNI plunged 22% from $8.00 to $6.80. Cryptocurrency daily market performance snapshot. Source: Coin360 UNI, which launched less than 48 hours ago, has rallied from around $1.00 to $8.00 in a short period. After an impressive eight-fold gain, the token started to pull back but trading volume suggests traders have their eyes set on higher prices. YFI and ETH rallied as UNI corrected  As UNI started to make a parabolic rally from $1 onwards, the funding rate of the cryptocurrency across major exchanges turned negative. Traders, the majority of which were at FTX exchange, were heavily shorting UNI in anticipation of a strong pullback. These traders might have thought that most holders of...