Day: September 26, 2020

Crypto hedge funds and mining regulations: Bad crypto news of the week
Crypto News

Crypto hedge funds and mining regulations: Bad crypto news of the week

It’s been a difficult week for Bitcoin this week. The price has fallen about 5 percent over the last seven days to drop beneath $10,400. It could bounce but if it continues downwards, it might drop below $10,000 and get dangerously close to the CME gap. One sign that the price might fall further has been a decline in the number of Bitcoin addresses holding a single Bitcoin. They’ve reached a four-month low. But Tyler Winklevoss still thinks that Bitcoin is better than gold, and  Microstrategy CEO Michael Saylor has moved from bear to bull. His company recently bought almost 16,800 Bitcoins over 74 hours, spending about $175 million. Paypal is bearish too. The payments firm is working on a way to allow merchants to accept cryptocurrencies. In Brazil, fund manager Hashdex has made a...
Nifty likely to trade with limited upside and incremental volatility in truncated week
Stock News

Nifty likely to trade with limited upside and incremental volatility in truncated week

The market saw a good start to the week, but the second half of the week turned terribly volatile and markets saw deep cuts, even though there was a strong recovery on the last trading day of the week. Over the past five sessions, Nifty oscillated over 745 points, i.e., close to 7 per cent, before ending with a net loss of 454 points, or 3.95 per cent, on a weekly basis. The market was eventful even from a technical perspective. Nifty came very close to its 200-DMA, which currently stands at 10,758 level. On the weekly chart, the index violated the crucial zone that existed between 10,930 and 11,070 levels. This is made of the 50-week and 100-week moving averages currently placed at 10,937 and 11,067 levels, respectively. After violating this crucial pattern support zone, Nifty managed t...
5 Stocks For Food Enthusiasts
Stock

5 Stocks For Food Enthusiasts

According to Peter Lynch, an American investor, mutual fund manager and the author of several books on trading, novice traders are better off finding companies that they are actually interested in or using on a daily basis to invest in. This makes sense: this way a trader would be more inclined to follow the company’s performance, read the news and generally keep an eye on the field. While some fields like technology or finance may require more specific knowledge, the food industry is more straightforward. It is quite stable and reliable, too: one may not purchase the next iPhone, but everybody needs to eat. Food companies are those we interact with the most: when we buy groceries, go out to eat or order delivery. Food industry overview Just as many other...
The UN’s ‘decade of delivery’ needs blockchain to succeed
Crypto News

The UN’s ‘decade of delivery’ needs blockchain to succeed

When the Sustainable Development Goals, or SDGs, were conceived back in 2012, blockchain technology was in its early days. Few could have foreseen the trajectory and the potential of blockchain for advancing these ambitious targets. But today, we see opportunities for blockchain technology to recast conventional approaches to sustainable development — and accelerate progress if deployed responsibly. Macro trends of 2020 There are a number of macro trends this year in the world of blockchain and sustainable development that provide context. This has been — and will continue to be — an important year for laying the groundwork for major disruptors like digital currency and digital identity. The trajectory of blockchain technology, in some ways, chimes with that of its predecessors. Foll...
Gold Price Analysis: Downside more compelling for XAU/USD in the NFP week ahead
Forex

Gold Price Analysis: Downside more compelling for XAU/USD in the NFP week ahead

Gold (XAU/USD) shed about 4.5% in the past week, delivering a weekly closing below the August month low of $1863. The yellow metal booked the first weekly loss in three, with the risks skewed to the downside in the US Non-Farm Payrolls (NFP) week ahead. The persistent haven demand for the US dollar, in the wake of fiscal stimulus wrangling and coronavirus resurgence in key economies, continues to exert the downward pressure on the metal. Further, central banks’ skepticism on providing additional monetary stimulus also undermines the sentiment around gold. How is gold positioned technically, with all eyes on the critical US NFP release? Gold: Key resistances and supports Gold failed to hold onto the critical $1862 barrier on a daily closing basis. Therefore, the Technical Confluenc...
Trump Supreme Court pick Amy Coney Barrett ensures abortion fight for election’s final day
Business news

Trump Supreme Court pick Amy Coney Barrett ensures abortion fight for election’s final day

President Donald Trump's selection of Amy Coney Barrett to replace Justice Ruth Bader Ginsburg on the Supreme Court has teed up a colossal clash over religion and reproductive rights to play out in the final days before Election Day.  Trump will nominate Barrett on Saturday, following Ginsburg's death a week ago from complications due to pancreatic cancer, NBC News has learned.  Barrett, a devoted Catholic, is a favorite among religious conservatives and a target of those on the left who say she is likely to vote to undo the court's longstanding abortion protections. Trump has sought to develop his anti-abortion credentials while in office, repeatedly pushing for a late-term abortion ban during his State of the Union addresses to Congress. Trump pledged during his 2016 campa...
Crypto crimes are no excuse for taking away digital asset fungibility
Crypto News

Crypto crimes are no excuse for taking away digital asset fungibility

The modern world has become too small for comfort. The truth is that technological advancement is a double-edged sword, which has the potential to enhance human lives drastically at many levels and disrupt them in the blink of an eye, shaping things on a global level to an extent yet not seen. Even though we enjoy fast progress in crypto services and digital asset fields, constant security breaches and hacks pose a severe threat to market participants. The very essence of safety in the modern world is questioned. Therefore, it’s about time we clarify the complex topic of fungibility in the digital asset field. How it all went downhill Everything is online nowadays. We’ve been focusing on the future so hard that we’ve failed to recognize the point of no return. Back in the 90s, the int...
Ray Dalio sees enemy within as he ponders US-China clash
Stock News

Ray Dalio sees enemy within as he ponders US-China clash

By Nathan CrooksRay Dalio used the latest installment of his ongoing series on the changing world order to identify clear red lines that, if crossed, could result in a deadly war between China and the U.S., but the real enemy in the conflict may lie within. “Our greatest war is with ourselves because we have the most control over how strong or weak we are,” the billionaire founder of Bridgewater Associates wrote in the essay published on LinkedIn. “The internal wars and challenges in both China and the US are more important and bigger than external wars and challenges.” "This week’s chapter of The Changing World Order series is about one of the most important issues at play in the world today: the ongoing conflicts between the US and China across a number of areas." — Ray Dalio (Septem...
Fitch affirms UK at ‘AA-‘; Outlook negative
Forex

Fitch affirms UK at ‘AA-‘; Outlook negative

Late Friday, the US-based Fitch Ratings affirmed the UK’s sovereign credit rating at 'AA-' with maintaining a negative Outlook. Key takeaways “The Negative Outlook reflects the impact the coronavirus pandemic is having on the UK economy and the resulting material deterioration in the public finances, with Fitch forecasting the fiscal deficit to materially widen this year and government debt set to increase to well over 120% of GDP over the next few years. “ “The COVID-19 pandemic and the containment measures imposed to limit its spread have hit UK economic activity hard.”  “Changes in UK-EU trading arrangements are likely to curtail the pace of recovery as the Brexit transition period ends on 1 January 2021.”  Related reads Credit: FX Street
‘Bulls have won’ — Bitcoin whale clusters suggest BTC trend reversal
Crypto News

‘Bulls have won’ — Bitcoin whale clusters suggest BTC trend reversal

Bitcoin (BTC) whale clusters indicate that the price could be in a short-term trend reversal after BTC’s recovery beyond $10,700. In the past two days, BTC price rose by nearly 6% from $10,135 to $10,755 across major exchanges. Whale clusters form when large investors accumulate Bitcoin and do not spend or move their holdings for significant periods of time. This typically indicates that whales expect BTC price to increase in the near term. The hourly map of Bitcoin whale clusters. Source: Whalemap Whalemap, an on-chain analysis firm that tracks whale activity, identified $10,407, $10,570, and $10,667 as whale clusters. In the short term, the three levels are likely to serve as potential support areas if BTC remains above $10,700. Bitcoin market sentiment is turning optimistic Accor...