Financial Industry News
An overnight attempt to crash Bitcoin alongside the US stock market met with extreme resistance as the cryptocurrency bounced back handsomely. The BTC/USD exchange rate lost $465, or 3.51 percent, after the New York opening bell Monday. The pair fell to as low as $12,785, only to find a considerably higher buying sentiment. As a […]
Continue ReadingBitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called “legacy trendline.” As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the […]
Continue ReadingBitcoin faces the prospects of undergoing broader downside corrections as hedge funds rush to short stocks that surged impressively during the coronavirus pandemic. According to the Financial Times, some fund managers have increased their bets against the shares linked to technology, home gym equipment, grocery retail, and healthcare. Tim Campbell of Singapore-based hedge fund Longlead […]
Continue ReadingThere was no major stimulus announcement, but Bitcoin was still able to hit a five-week high on the first day of the week. The benchmark cryptocurrency established an intraday high of $11,736 before profit-taking sentiment pushed its exchange rate lower. Its price landed around a concrete support level of $11,500. Entering the Tuesday Asian session, […]
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Continue ReadingThe Dow Jones rallied triple digits on Tuesday. Dow bulls are optimistic about a stimulus deal. Jerome Powell joins Nancy Pelosi and Donald Trump in calling for an agreement. The Dow Jones rallied on Tuesday, as investors continue to follow the carrot of stimulus talks. With Nancy Pelosi, Jerome Powell, and Donald Trump all crying […]
Continue ReadingSam Bourgi Financial Editor of CCN.com, Sam Bourgi has spent the past decade focused on economics, markets, and cryptocurrencies. His work has been featured in and cited by some of the world’s leading newscasts, including Barron’s, CBOE, Yahoo Finance, and Forbes. Sam is based in Ontario, Canada and can be contacted at sam.bourgi@ccn.com or at […]
Continue ReadingThe Dow Jones rose more than 300 points on Monday. Investors cheered strong ISM data and progress towards fiscal stimulus in Congress. Joe Biden’s strong polling is looking positive for Wall Street. The Dow Jones rallied to start the week, as investors responded to stellar PMI data and reports that President Trump’s condition is improving. […]
Continue ReadingThe Dow Jones Industrial Average rose by as much as 309 points on Monday. Joe Biden has opened up a 14-point lead on Donald Trump in the latest Wall Street Journal/NBC News poll. Although Trump is widely considered to be the better candidate for business, a decisive outcome, one way or another, is positive from […]
Continue ReadingAfter the September selloff, October offers investors an opportunity. Monumental vaccine developments could boost share prices this month. October is the final month before election chaos becomes a reality. So far this year, investors have had a wild ride—but for those who hung on through the March dip, it’s been mostly positive. September brought on […]
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