Bitcoin notched a fresh all-time high Wednesday as investors cheered the successful launch of the first U.S. bitcoin futures exchange-traded fund. The world’s largest cryptocurrency climbed 3.9% to $66,398.25 by 4 p.m. ET, according to Coin Metrics. The coin at its highs passed the $66,900 level Wednesday, topping a previous intraday record of $64,899 set in […]
Shares of Stronghold Digital Mining jumped 52% in their first day of trading on Wednesday, as investors show enthusiasm for nascent companies tied to cryptocurrencies. Trading on the Nasdaq under ticker symbol “SDIG,” the Pennsylvania company, which mines bitcoin from waste coal, priced its stock at $19 a share, above the anticipated range of $16 […]
U.S. stocks climbed on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent Covid cases and rising costs would derail corporate America’s profit recovery. The S&P 500 added 0.7% to 4,519.63, rising for a fifth straight day. The Dow Jones Industrial Average gained 198.70 points, or 0.6%, to 35,457.31. The […]
Economic challenges abound, and equities will rally. It’s a seemingly paradoxical view, but one espoused by one of the biggest players in the market. Scott Minerd thinks stocks have bottomed, and will rally from here. Minerd is chief investment officer at Guggenheim Partners, helping oversee the firm’s $255 billion in assets. He told Yahoo Finance […]
Senate Democrats called on Facebook to end its digital wallet and cryptocurrency project in a letter to chief executive Mark Zuckerberg Tuesday, saying that the company “cannot be trusted to manage cryptocurrency.” The letter comes hours after Facebook launched Novi, a new digital wallet, as part of a “small” pilot program in the US and […]
Shares of the first U.S. bitcoin-linked exchange-traded fund rose in their trading debut Tuesday. The ProShares Bitcoin Strategy ETF, ticker “BITO,” jumped 4.8% to close at $41.94. The fund tracks CME bitcoin futures, or contracts speculating on the future price of bitcoin, rather than the crypto itself. That means investors in the ETF should expect […]
Longtime activist investor Carl Icahn said Monday that the U.S. markets could see major challenges over the long term in the face of excessive money supply and rising inflation. “In the long run we are certainly going to hit the wall,” Icahn said Monday on CNBC’s “Fast Money Halftime Report.” “I really think there will […]
U.S. stock indexes were mixed Monday as oil prices ticked to seven-year highs and industrial production slowed. The Dow Jones Industrial Average fell 36 points, or 0.1%, while the S&P 500 index and the Nasdaq Composite index advanced 0.34% and 0.84%, respectively. Industrial production fell 1.3% in September, missing the 0.2% gain that was expected. […]
Bitcoin (BTC) has barely started its run to new all-time highs if its relative strength index (RSI) repeats historical behavior. As noted by popular Twitter analyst TechDev on Oct. 18, the RSI has yet to produce macro top signals for BTC/USD. RSI falls far short of classic macro top zone Bitcoin has kept the market guessing as […]
Shiba Inu is popularly known as the “Doge Killer”. A term coined by the asset’s creator in the original announcement of the creation of the coin. Since then, the meme coin has gone head to head with Dogecoin over which is the better meme coin. Dogecoin has no doubt held its own against the then-newcomer […]
Mohammed El-Erian said investors should prepare for increased market volatility if the Federal Reserve pulls back on stimulus measures set in motion by the Covid-19 pandemic. “I worry a little bit that this wonderful world we’ve been living in of low volatility, everything going up, may come to a stop with higher volatility,” El-Erian, the […]
Oil advanced in Asian trading after an eighth weekly gain with the market facing a global energy crunch ahead of winter. Futures in New York climbed toward $84 a barrel after adding 3.7% last week, capping the longest run of weekly gains since 2015. A shortage of natural gas and coal from Asia to Europe […]
