In this two part video tutorial, Trading 212 shows you how to trade moving averages. In the first video you will learn what moving averages are and how they are calculated. The videos highlight the important differences between the types of moving averages and how to tailor the time period to benefit from this technical
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The Real Estate sector ranks 11th out of the 11 sectors as detailed in our Q3'20 Sector Ratings for ETFs and Mutual Funds report. Last quarter, the Real Estate sector ranked eleventh. It gets our Very Unattractive rating, which is based on an aggregation of ratings of the 197 stocks in the Real Estate sector. See a recap of our Q3'20 Sector Ratings here. Figures 1 and 2 show the five best and worst rated ETFs and mutual funds in the sector. Not all Real Estate sector ETFs and mutual funds are created the same. The number of holdings varies widely (from 16 to 182). This variation creates drastically different investment implications and, therefore, ratings. Investors should not buy any Real Estate ETFs or mutual funds because none get an Attractive-or-better rating. If you must have exposure to this sector, you should buy a basket of Attractive-or-better rated stocks and avoid paying undeserved fund fees. Active management has a long history of not paying off. Figure 1: ETFs with the Best and Worst Ratings * Best ETFs exclude ETFs with TNAs less than $100 million for inadequate liquidity. Sources: New Constructs, LLC and company filings Figure 2: Mutual Funds with the Best and Worst Ratings * Best mutual funds exclude funds with TNAs less than $100 million for inadequate liquidity. Sources: New Constructs, LLC and company filings CGMRX is the top-rated Real Estate mutual fund. There are no ETFs that receive a Neutral-or-better rating. CGMRX earns a Neutral rating. INDS is the worst rated Real Estate ETF and RYREX is the worst Real Estate mutual fund. They both earn a Very Unattractive rating. 197 stocks of the 2,850-plus we cover are classified as Real Estate stocks. The Danger Within Buying a fund without analyzing its holdings is like buying a stock without analyzing its business and finances. Put another way, research on fund holdings is necessary due diligence because a fund’s performance is only as good as its holdings’ performance. Performance of Holdings = Performance of Fund Analyzing each holding within funds is no small task. Our Robo-Analyst technology enables us to perform this diligence with scale. More of the biggest names in the financial industry (see At BlackRock, Machines Are Rising Over Managers to Pick Stocks) are now embracing technology to leverage machines in the investment research process. Technology may be the only solution to the dual mandate for research: Cut costs and fulfill the fiduciary duty of care. Investors, clients, advisors and analysts deserve the latest in technology to get the diligence required to make prudent investment decisions. Figures 3 and 4 show the rating landscape of all Real Estate ETFs and mutual funds. Figure 3: Separating the Best ETFs From the Worst ETFs Sources: New Constructs, LLC and company filings Figure 4: Separating the Best Mutual Funds from the Worst Mutual Funds Sources: New Constructs, LLC and company filings This article originally published on July 14, 2020. Disclosure: David Trainer, Kyle Guske II, and Matt Shuler receive no compensation to write about any specific stock, sector or theme. Get our long and short/warning ideas. Access to top accounting and finance experts. Deliverables: 1. Daily - long & short idea updates, forensic accounting insights, chat 2. Weekly - exclusive access to in-depth long & short ideas 3. Monthly - 40 large, 40 small cap ideas from the Most Attractive & Most Dangerous Stocks Model Portfolios See the difference that real diligence makes. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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Oregon lawmakers closed a billion-dollar budget hole in an all-day special session Monday passing 11 bills in about 15 hours. Gov. Kate Brown gave the process a mixed review during a Tuesday press conference, emphasizing that she doesn’t think the state should be dipping into the Oregon Public Retirement System’s reserves. Oregon Gov. Kate Brown isn't closing the door on the possibility of a third special session. Bloomberg News “I do have concerns regarding the use of reserves and one-time funds,” Brown said. “We have spent years building up our rainy day reserves, but that savings account is only so big. If we use up a substantial portion this year, then we won’t have it for next year.” Democrats control the governor's office and both houses of the legislature. It was lawmakers' second special session of the year. Lawmakers spent three days at the capitol in June working on police reform laws, and a handful of other issues left over from the regular session in March that ended abruptly when minority Republican lawmakers walked out. Brown added that she will closely examine the details of the budget and bills. She didn’t discount the idea that Oregon lawmakers could have a third special session in coming months. “It depends on whether Congress can get its act together and come up with funding for the states and localities, and get it passed through both houses,” Brown said. “If Congress doesn’t act, it will require myself and the Legislature taking further drastic budget steps.” It doesn’t appear likely that any help from Congress will be arriving in the near term. Relief talks have not stalled, they have stopped, Tom Kozlik, head of municipal strategy and credit for Hilltop Securities, wrote in a Tuesday municipal commentary. The U.S. House left Washington on July 31 and the Senate’s scheduled session ended Friday, Aug. 7. The U.S. Capitol is being described as “empty” and there is no stimulus bill in the works, Kozlik said. "The scale of this crisis dictates additional support from the federal government," said Oregon House Speaker Tina Kotek. Bloomberg News It could be weeks before any serious talks resume, Kozlik wrote, adding that both legislative chambers are scheduled to return to Washington Tuesday, Sept. 8, the day after the Labor Day holiday. With Congress in recess, and Presidential Donald Trump’s executive actions seen as not having the influence of congressional policy, there is no federal relief coming for state and local governments anytime soon, Kozlik wrote. Trump issued an executive order that would have states contributing $100 a week of $400 in additional funding for unemployed workers. Congress had approved $600 a week for unemployed workers throughout the pandemic, but that expired in July. The impasse means that state and local governments “do not even have the ability to repurpose the $139 billion allocated to them in the CARES Act,” Kozlik wrote. “Some state and local governments have already factored in federal relief to their budget plans. Others have been scaling back on their spending in different ways, including laying off workers.” About 1 million state and local government employees nationally have been laid off since the beginning of the pandemic, and without federal aid, that number could grow, Kozlik wrote. So far in 2020, rating agency actions for state and local issuers have not been significant — not yet anyway, Kozlik wrote. Factors upon which most public finance entities' credit quality depend, typically do so, on a lagging basis, he said. He took a look at Moody’s Investors Service upgrades and downgrades following the Great Recession for insight into what might occur as a result of the economic fallout from the pandemic. “The first year Moody’s public finance downgrades outpaced upgrades was 2009, but downgrades did not peak until several years after the recession in 2012,” Kozlik wrote. “In all, downgrades outpaced upgrades for a total of six years. While this time may be slightly different, this gives us an idea of the potential for a lagged impact on municipal credit quality.” Oregon's GO ratings of Aa1 from Moody’s Investors Service and AA-plus from both Fitch Ratings and S&P Global Ratings were affirmed, with stable outlooks, ahead of a $320.4 million taxable general obligation bond sale. Brown saved her harshest criticism for the inability of Congress to pass a second CARES package to aid states and local governments with revenue shortfalls and the increased costs of battling COVID-19. “I'm frustrated that the White House and D.C. Republicans are refusing to pass another stimulus bill, and I will continue to press for Congressional action,” Brown said. “Without direct support, our budget reserves will soon run dry.” In response to whether she might take executive action to strike out the use of PERS funds to balance, the budget, she responded that all options are on the table. “It is dependent on what action Congress takes,” Brown said. “It is important they act now, or Oregon, and other states will have to take greater action in the next several weeks.” Lawmakers protected critical state services including schools, health care, and senior services, while taking action to tighten belts in state government, Brown said. The public had not been allowed into the Oregon State Capitol during the marathon special session due to coronavirus concerns, with lawmakers only accepting written testimony on bills. Lawmakers approved budget cuts totaling $362 million in general fund dollars during the second emergency session of the legislature convened in the wake of the COVID-19 pandemic. They also approved $400 million in emergency dollars from the Education Stability Fund to keep K-12 funding stable. State economists predict the state will collect $1.2 billion less in revenue than expected by mid-2021. The state also has been contemplating closing two prisons. “While I'm disappointed that a few lawmakers blocked a bill to speed up mitigations in police use of force, we are taking action on racial justice,” which Brown said involves more than just police, but housing and many other municipal services. “I’m disappointed they didn’t pass the bill that would provide unemployment checks for school janitors and cooks, but they did pass two bills to help unemployed Oregonians.” House Speaker Tina Kotek said she is “appalled that Senate Bill 1702, which would have sped up the process and helped thousands of Oregonians get their benefits faster, failed. This was a missed opportunity that we should come back on.” Senate Republicans countered that SB 1702 “would have prioritized public employees to jump the unemployment line over other Oregonians that have been waiting for help for months.” “I am trying to protect the tens of thousands of unemployed Oregonians, through no fault of their own,” said Senator Lynn Findley, R-Vale. “Oregonians are begging for help, some filing for bankruptcy, and the governor is blind to those pleas, and instead prioritizes public employees.” Monday’s special session is far from the end of conversations needed to put Oregon on the path to an equitable economic recovery, Kotek said. “The scale of this crisis dictates additional support from the federal government, and I urge Congress to provide that support as soon as possible to prevent the suffering that is happening daily across this state,” Kotek said.
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Siebert Williams Shank & Co. has formed the Clear Vision Impact Fund LLC, with an initial $25 million investment from Microsoft Corp., the firm said on Thursday. The fund has a target size of $250 million and will invest in small- and medium-sized businesses. It aims to maximize social impact by helping minority- and women-owned business enterprises access capital. “We are extremely pleased to have Microsoft’s critical support in delivering the commercial and social resources necessary to strengthen underperforming communities,” said Chris Williams, SWS chairman. Chris Williams, Chairman of Siebert Williams Shank & Co. “Our role in helping to implement Microsoft’s vision of community support is a recognition of the vital role that small businesses play in their communities, particularly during this period of widespread economic distress,” he said. The partnership between SWS and Microsoft aims to help targeted firms get access to monies they may have previously been denied so as to create a positive impact for the firms and for the communities where they do business. State, county and city revenues had been hammered hard by the coronavirus. This infusion of cash to MWBE firms will in the end bolster municipal revenues as businesses ramp up hiring and get back to work where they will be able to enhance their profitability. “We're pleased to continue our 10-year relationship with Siebert Williams Shank to partner together to create new opportunities and expand access to capital for minority-owned small businesses,” said Tahreem Kampton, Assistant Treasurer and CIO at Microsoft. “There is much work to do to reduce the technology gaps that exist in our ecosystem today. This is just the first step to building a more diverse and equitable playing field and we look forward to the opportunities that this investment will help create.” The fund is also expected to leverage SWS’s national network of relationships and its visibility and reputation within the minority business community. Suzanne Shank, SWS president and chief executive officer. “This is the beginning of a long-term commitment by Microsoft and by our firm to continue to address the decades of underinvestment in communities of color and the persistently limited access to capital for entrepreneurs in those communities,” said Suzanne Shank, president and CEO of SWS. “We are thrilled that Microsoft has recognized the value of this endeavor and we are confident others will follow.” Siebert Williams Shank is the nation’s largest woman-owned and minority-owned investment bank. It is the result of the 2019 combination of Siebert Cisneros Shank & Co. and The Williams Capital Group. The firm is a top-ranked manager for municipal bond transactions. Combined, its two predecessor companies have participated in about 2,000 municipal financings in the last five years and have been lead managers on over 200 financings totaling about $30 billion. The firm's name pays homage to one of its original co-founders, Muriel Siebert, the first woman to own a seat on the New York Stock Exchange.
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Israel and the United Arab Emirates have reached a historic peace deal that will see the Gulf power normalising diplomatic relations with the Jewish state. The deal, brokered by the US, would mean the UAE will become only the third Arab state to have full diplomatic ties with Israel, after Egypt and Jordan.  “HUGE breakthrough today! Historic Peace Agreement between our two GREAT friends, Israel and the United Arab Emirates!”, US President Donald Trump said on Twitter.  The UAE, a staunch US ally, has been increasing its intelligence and security co-operation with Israel in recent years as both share common goals in countering Iran’s influence in the region and fighting Islamic extremism.  Under Sheikh Mohammed bin Zayed, Abu Dhabi’s crown prince and the UAE’s de facto leader, the Gulf state has pursued an increasingly assertive foreign policy across the Middle East that has barely disguised its burgeoning ties to Israel.  The UAE move will be a significant victory for Israeli prime minister Benjamin Netanyahu, who regularly touts his success in improving Israel's relations with Arab states that were once sworn enemies. As part of the deal, Israel has agreed to suspend annexing parts of the occupied West Bank. Mr Netanyahu had promised to annex areas of the Palestinian territory as he campaigned in elections last year, but the process stalled in recent weeks.
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With real bond yields below -1% out to 10 years, many investors are increasing their allocation to dividend-paying stocks as a source of inflation-protected income. As many dividend investors are aware, there is far more to dividend investing than simply buying stocks with high dividend yields, and so much of the analysis on these income sources goes into understanding the drivers of a dividend's quality and likely future growth. This trade-off between higher current dividend yields vs. a greater focus on dividend growth is seen in the different approaches of two top dividend-focused ETFs: the iShares Select Dividend ETF (DVY) and the iShares Core Dividend Growth ETF (DGRO). I was intrigued by the recent "Let's Talk ETFs" podcast interview with Eric Ervin of Reality Shares, which manages the "DIVCON Leaders" Dividend ETF (LEAD). The transparency of LEAD's methodology is exemplary, in that the Reality Shares page describing this "DIVCON" scoring methodology shows how their proprietary dividend quality score has evolved quarter by quarter for hundreds of US-listed companies. In this article, I take a look at how the DIVCON scores of DVY's holdings compare with DGRO's holdings, and in turn, how these compare with LEAD. I have DVY and DGRO over the comparable Vanguard High Dividend Yield ETF (VYM) and Vanguard Dividend Appreciation ETF (VIG) because the iShares website makes it easier to download and compare holdings than the Vanguard website. In short, the "DIVCON" score is a rules-based measure of a combination of fundamental factors expected to correlate with future dividend increases or cuts. Stocks with high DIVCON scores are expected to be more likely to raise their dividends, while low DIVCON stocks may be more likely to cut dividends in the near future. The name is a play on the US armed forces' DEFCON alert levels, and some have also compared it to Singapore's DORSCON alert levels for pandemics. The DIVCON "score" seems to range from 0 to 100, but then is summarized by grouping stocks in quintiles of "DIVCON 1" (most likely to cut dividends) versus "DIVCON 5" (most likely to raise dividends) stocks. LEAD is designed to focus investments in stocks with the highest DIVCON scores, and here I would also like to see how the DIVCON scores of DVY and DGRO compare, as just two samples of other ETFs which do not provide such detailed dividend quality scoring of holdings. The first chart shows what many investors might expect as differences between DVY, DGRO, and LEAD - lower yields as we move to ETFs that focus more on dividend quality and growth. Data by YCharts Although LEAD and DGRO hold themselves out as the ETFs with more emphasis on dividend growth, DVY has also posted a respectably long track record of steady dividend growth over these past two cycles: Data by YCharts In terms of total return, the advantages of the growth and quality tilt of LEAD and DGRO, over the more high-yielding DVY, has mostly shown only over the past year, and especially in response to the "shock" of COVID-19. This difference in total return could also be inferred from the first chart, where the yield on DVY has risen significantly more over the past year than it has for DGRO or LEAD. For investors who believe in buying when yields are high, and selling when yields are low, this might be viewed as a signal to buy more DVY at these levels, while the lower yield of LEAD will require years of dividend growth to outperform in the future from these levels. Data by YCharts DIVCON Scores of DVY's Holdings When we look at the top holdings of DVY, we clearly see an emphasis on high current dividend yield, though all ten of these names have also grown their dividends per share over their past five years, and with DIVCON scores seemingly average around 50/DIVCON 3. Source: RealityShares.com, iShares.com If we summarize across all of DVY's holdings, we see that almost 80% of DVY's portfolio would be rated DIVCON 3 or DIVCON 4, and that these stocks have, on average, lower yields and higher historical dividend growth than the lower-scored stocks. The following pivot table shows the unweighted sum of weights, average dividend yield and average historic dividend growth rate of DVY's components, grouped by 2020Q2 DIVCON level. Source: RealityShares.com, iShares.com DIVCON Scores of DGRO's Holdings Compared with DVY, we would expect DGRO's top holdings to be lower yielding, but showing higher historical dividend growth, and likely also higher DIVCON scores. What may surprise some dividend investors is that these top holdings happen to be far more representative of the top S&P 500's top 10 components, with Apple (AAPL), Microsoft (MSFT), Johnson & Johnson (JNJ) and Procter & Gamble (PG) all overlapping in just the top 10. Source: RealityShares.com, iShares.com When we look up the DIVCON scores of stocks in DGRO's portfolio, over 93% of DGRO's portfolio is rated DIVCON 3 or above, and over 72% would be DIVCON 4 or above. This portion of the portfolio has an unweighted average historical dividend growth rate of over 10%/year over the past 5 years, and roughly half the yield of DVY in exchange for double this historic dividend growth rate. Source: RealityShares.com, iShares.com DIVCON Scores in the LEAD ETF As we would expect, the LEAD ETF, being based on the DIVCON score, would obviously be topped by stocks ranked as DIVCON 5, at least as of the last rebalance, even if several of these are not S&P 500 components. Three of LEAD's top 10 holdings have seen their DIVCON scores lowered since the end of 2019, which is an important indicator of how this system has reacted to the unusual first half of 2020. Source: RealityShares.com When we run the same pivot table on the whole of LEAD's portfolio, we see that almost 90% of the portfolio still ranks at DIVCON 4 or 5 as of the end of 2020Q2, and has a slightly higher historic dividend growth rate, but all this comes with the significantly lower yield noticed. Source: RealityShares.com Dividend Yield By DIVCON Score As a final chart, I present the below the scatterplot of DIVCON scores (the detailed number ranging from 1 to 100) versus dividend yields of the roughly ~700 US-listed dividend-paying companies scored on the Reality Shares website. One might expect that, if markets and the DIVCON score were both perfectly efficient, that lower DIVCON scores would neatly line up with higher dividend yields to compensate for lower financial quality and greater risk of dividend cuts. While we do see some of this pattern at the very top (e.g. all stocks scoring above 70 yield less than 2%), the significant number of low-scoring and low-yielding stocks might be a segment worth looking into as a possible model flaw or alpha opportunity. Source: RealityShares.com Conclusion The year to date underperformance of DVY shows the dangers of simply chasing higher dividend yields, but the remaining difference between DGRO and LEAD indicate that there may be less of a gain in quality moving from a 2% yield to a 1% yield than from 4% to 2%. While DGRO's recent performance has certainly been helped by its exposure to large technology names like MSFT and AAPL, the scatterplot shows that there are still several stocks with 2-4% dividend yields and high DIVCON scores. This inclines me to believe that an ETF like DGRO, with many DIVCON 4 names but double the overall yield, is a better compromise than LEAD's sacrifice of yield to focus on DIVCON 5 names. Better yet, an investor with some flexibility to buy individual names may prefer to simply choose DIVCON 4+ names with relatively high yields rather than being constrained to how these current ETFs are constructed. It will be interesting to see if Reality Shares finds a market to launch an ETF to fill this exact need: higher-yielding DIVCON 4 stocks, rather than the lower-yielding DIVCON 5 names in LEAD. Such an ETF would give DGRO and VIG a good run for their money. Are you looking to improve the income generating ability of your portfolio, not just this year, but for decades to come? Members of Long Run Income get my regular short form analysis, "dividend check" reviews on dozens of quality stocks, screens, model portfolio updates, and ideas like these that can significantly increase your investment income over time, as well as access to our members-only chat room for discussing your questions. See more of my latest ideas with your free trial to Long Run Income. Disclosure: I am/we are long MO, PM, XOM, MSFT, AAPL, JPM, PFE. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Additional disclosure: We are short LYB
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CNBC's Jim Cramer  is worried President Donald Trump's administration will keep applying pressure to China into the election, creating a headwind for the market.  "I think that the president is keeping the heat on. I expect more negatives about China," Cramer said on "Squawk on the Street." Cramer's remarks Thursday come as the relationship between the U.S. and China continues to grow increasingly frigid, following a brief cooling in January after the two sides agreed to a phase-one trade agreement. However, China is reportedly far from meeting its commitments on goods purchases under the deal, which was reached after a back-and-forth tariff war between the world's two largest economies that began in 2018.   At a White House briefing Monday, Trump said the trade deal now means "very little in the overall import of things," then again criticized China's handling of the coronavirus and blamed the country for the pandemic.  "We view China differently than we did eight months ago. Very much differently," said Trump, who had initially praised China's coronavirus response but now argues its government was not transparent in sharing information on the initial outbreak.  While the virus emerged from Wuhan, China, public health experts say the U.S. government's failure to act quickly to contain the virus, as well as a lack of coordination between federal and state entities, are partly responsible for America having more reported cases of Covid-19 than any other country.  White House spokesman Judd Deere said in a statement to CNBC that Trump "is constantly reviewing our relations with China." But the president has "nothing to announce at this time," Deere added.  The Trump administration has also ratcheted up scrutiny of Chinese tech companies — specifically ByteDance, which owns the social media video app TikTok, and Tencent, which owns the messaging app WeChat.  Last week, Trump signed a pair of executive orders that banned U.S. firms from transacting with ByteDance and Tencent's WeChat. The orders go into effect in September, although there is still some confusion over how they would be implemented.  Business leaders from major American companies including Ford Motor Co. and Disney voiced their concerns over a WeChat ban to the White House earlier this week, according to a report from The Wall Street Journal.  Tensions between the U.S. and China also have intensified over Beijing's sweeping national security law it imposed on Hong Kong this summer. The Trump administration recently sanctioned 11 people, including Hong Kong Chief Executive Carrie Lam.  The U.S. Treasury Department said it was targeting Lam for "implementing Beijing's policies of suppression of freedom and democratic processes" in the former British colony.  China responded with its own batch of sanctions on U.S. officials, including Republican U.S. Sens. Ted Cruz of Texas and Marco Rubio of Florida.  - CNBC's Berkeley Lovelace Jr. contributed to this report. 
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Venezuela’s national tax harmonization agreement has been signed by the council representing 305 municipalities. They have agreed to use the country’s cryptocurrency, the petro, as the unit of account for tax payments. Taxing in Petro The Bolivarian Council of Mayors signed Venezuela’s National Tax Harmonization Agreement on Sunday, placing the cryptocurrency petro as the unit of account for the payment of taxes and fines in 305 municipalities. The country is comprised of 335 municipalities, incorporated into 23 states and the capital district. Calling the agreement “historic,” Vice President Delcy Rodríguez stressed that the prohibition of collecting taxes and duties in foreign currency has been established because the unit of account for this tax is now the petro, local news outlet Ultimas Noticias conveyed. She added that for the first time in Venezuela’s history, a municipal tax harmonization was achieved. Venezuelan President Nicolas Maduro supports the signing, instructing Rodríguez to ensure that the harmonization of all taxes is maintained to avoid double taxation. Rodríguez explained that to achieve this, a single registry of municipal taxpayers will be created and administered by the Bolivarian Council of Mayors. It will function as a digital tool for the consultation, information exchange, and monitoring of companies with branches in different municipalities to verify declaration made in one mayor’s office but paid in another. In the future, it can also be used to cross-check information with the national tax system, she described. Rodríguez further noted that the tax harmonization agreement also simplifies administrative procedures, such as reducing the reference codes for economic activities, industries, and businesses from 600 to 30. Sharing Rodríguez’s sentiment, Mayor Erika Farias commented: This tax harmonization agreement, which we have reached after a great debate among the 305 Bolivarian mayors, is an unprecedented event in our country. During the signing, Mayor José Alejandro Teran highlighted that using the petro as the unit of account for calculating taxes is not only innovative, but it also helps protect against hyperinflation, which he attributes to U.S. sanctions. What do you think about Venezuela collecting taxes in petro? Let us know in the comments section below. Tags in this story Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimer
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According to blockchain data platform Blockchair, the average transaction fees paid by Ethereum users have reached a new record average of over $7.50. Average Ethereum transaction fee in USD chart. Source: Blockchair During a similarly congested period from June - July 2020, Ethereum co-founder Vitalik Buterin called for reform to the cryptocurrency’s fee system, suggesting fees this high could undermine the security of the network. According to Buterin, miners’ increasing reliance on transaction fees may incentivize selfish mining practices. This, in turn, could disrupt how transactions are processed. As a potential solution, Buterin suggests Ethereum improvement proposal 1599. This proposal would result in the blockchain burning base transaction fees to reduce the miner’s reliance on them as a source of income. Additionally, Coinbase researcher Max Bronstein said at the time that the high fees were caused by increased interaction with stablecoins on the Ethereum network.
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The VanEck Vectors Municipal Allocation ETF (BATS:MAAX) tactically allocates among VanEck municipal bond ETFs based on interest rate and credit opportunities to seek capital appreciation plus tax-exempt income. It uses a data-driven, rules-based process that leverages technical and macroeconomic indicators to guide credit and duration exposure, seeking to avoid market risks when appropriate. The expanded PDF version of this commentary can be downloaded here. Overview The VanEck Vectors Municipal Allocation ETF had a NAV total return of 2.12% vs. 1.68% for its benchmark for the month. July was yet another strong month for high yield bonds. MAAX's exposure to high yield, through investments in both the VanEck Vectors High-Yield Municipal Index ETF (BATS:HYD) and the VanEck Vectors Short High-Yield Municipal Index ETF (BATS:SHYD), was the largest contributor to performance. HYD returned 2.40% and SHYD returned 2.51% (both based on market price). Within the universe of potential holdings, short-term investment grade municipals lagged with a market price return of 0.62%. Fortunately, MAAX did not have an allocation to this segment of the municipal bond market in July. Average Annual Total Returns (%) as of July 31, 2020 1 Mo† YTD† 1 Year Life (05/15/19) MAAX (NAV) 2.12 -1.92 -0.14 1.24 MAAX (Share Price) 1.76 -2.26 -0.51 1.01 Bloomberg BarclaysMunicipal Bond Index* 1.68 3.80 5.36 5.79 Average Annual Total Returns (%) as of June 30, 2020 1 Mo† YTD† 1 Year Life (05/15/19) MAAX (NAV) 1.64 -3.96 -1.63 -0.54 MAAX (Share Price) 1.59 -3.95 -1.47 -0.47 Bloomberg BarclaysMunicipal Bond Index* 0.82 2.08 4.45 4.69 †Returns less than a year are not annualized. Expenses: Gross 0.38%; Net 0.38%. Van Eck Associates Corporation (the "Adviser") will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Expenses are based on estimated amounts for the current fiscal year. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses. The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reim­bursements. Had the ETF incurred all expenses and fees, investment re­turns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. *Bloomberg Barclays Municipal Bond Index is considered representative of the broad market for investment grade, tax-exempt municipal bonds with a maturity of at least one year. At the beginning of August, we adjusted the portfolio to improve performance by increasing diversification, while maintaining the overall risk and return profile of the strategy. Another benefit is that these adjustments will reduce portfolio turnover going forward. This is expected to reduce the costs associated with trading. MAAX is a systematic municipal allocation strategy that increases and decreases the riskiness of the portfolio depending on the risks measured within the municipal bond market. The four different risk scenarios are illustrated below: Higher Credit/HigherDuration Lower Credit/HigherDuration Higher Credit/LowerDuration Lower Credit/LowerDuration HYD 40% 0% 20% 0% ITM 20% 40% 0% 0% MLN 30% 50% 0% 0% SHYD 10% 0% 10% 0% SMB 0% 10% 70% 100% TOTAL 100% 100% 100% 100% Going forward, MAAX will now be more diversified in each of the four different risk scenarios. The allocations, based on each risk scenario, are shown below: Higher Credit/HigherDuration Lower Credit/HigherDuration Higher Credit/LowerDuration Lower Credit/LowerDuration HYD 30% 10% 30% 10% ITM 30% 50% 30% 50% MLN 35% 35% 15% 15% SHYD 5% 5% 5% 5% SMB 0% 0% 20% 20% TOTAL 100% 100% 100% 100% Muni Risk Factors The model that determines the allocations for MAAX considers this a stable risk regime as it relates to the two key risks that municipal bond investors take: credit and duration. It measures risk via price levels, volatility and historical relationships. Risk is scored from 0 to 100. A score of 50 or lower implies that risk is low and a score of 50 or higher implies that risk is high. As you can see in the charts below, the risk scores for both credit and duration are 0 for the second month in a row. The duration risk score recently declined from 33 to 0 based on the recovery of price trends of long duration municipal bonds and the relative near-term outperformance of long duration to short duration municipal bonds. Credit Total Risk Score Duration Total Risk Score The municipal bond market continues to recover from the chaos experienced in March, and MAAX continues to benefit from the recovery. This is now the third month in a row that MAAX has outperformed its benchmark. Based on the bullish readings from the indicators, and the fact that high yield has not yet fully recovered from pre-crisis levels, it is our expectation that there is still more upside. Further, the adjustments made to the allocations will result in additional diversification for MAAX. Important Disclosures This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction. An investment in the Funds may be subject to risks which include, fund of funds risk, high portfolio turnover, model and data risks, management, operational, authorized participant concentration and absence of prior active market risks, trading issues, market, fund shares trading, premium/discount and liquidity of fund shares and non-diversified risks. The funds may be subject to following risks as a result of investing in Exchange Traded Products including municipal securities, credit, high yield securities, tax, interest rate, call, state concentration and sector concentration risks. Municipal bonds may be less liquid than taxable bonds. There is no guarantee that a Funds' income will be exempt from federal, state or local income taxes, and changes in those tax rates or in alternative minimum tax (AMT) rates or in the tax treatment of municipal bonds may make them less attractive as investments and cause them to lose value. Capital gains, if any, are subject to capital gains tax. A portion of the dividends you receive may be subject to AMT. For a more complete description of these and other risks, please refer to each Fund's prospectus. Bloomberg Barclays Municipal Bond Index is considered representative of the broad market for investment grade, tax-exempt municipal bonds with a maturity of at least one year. The VanEck Vectors ETFs are not sponsored by, endorsed, sold or promoted by Bloomberg or Barclays and neither Bloomberg nor Barclays makes any representation regarding the advisability of investing in them. The only relationship to the Adviser with respect to the VanEck Vectors ETFs is the licensing of certain trademarks and trade names of Bloomberg and Barclays and the BLOOMBERG BARCLAYS INDICES that are determined, composed and calculated by Bloomberg without regard to the Adviser or any investor in the VanEck Vectors ETFs. Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing. Original post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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Today Bitcoin (BTC) price rebounded from its recent low at $11,125 on Aug 11 to $11,617. This suggests traders are turning optimistic as key data show a significant amount of liquidity for BTC until $12,000. Cryptocurrency daily market performance snapshot. Source: Coin360 As BTC price rallied, many major altcoins surged in tandem. Chainlink (LINK), which has seen strong gains all week, recorded a 19.6%gain. Meanwhile DeFi-related tokens like including Compound (COMP), Maker (MKR), Aave (LEND), and Cosmos (ATOM), saw gains ranging between 20%-50%. XBT/USD 4-hour chart. Source: TradingView Reasons traders are still bullish on Bitcoin Historically, the price of Bitcoin has moved toward areas that have the most liquidity and whales tend to target areas with a cluster of buy or sell orders to find sufficient liquidity. For instance, if Bitcoin is overly shorted, it is vulnerable to a short squeeze because whales are likely to target the liquidation prices of shorts. When shorts are liquidated, short holders are forced to market buy, causing buying demand. A pseudonymous trader known as “Byzantine General” cited data from Hyblockcapital to suggest that there is high liquidity in the $11,500 to $12,000 range. Many traders seemingly shorted Bitcoin on the way down, causing short liquidation prices to be present at around $12,000. The trader said said: “Green day today. Who could have possibly thought? Well except for me of course. Still a lot of liquidity above us. I say we keep going.” Bitcoin liquidation levels on the low time frame chart of Bitcoin. Source: Hyblockcapital Another popular crypto trader on Twitter known as “Redxbt,” said the Bitcoin recovery “might still have legs.” It appears he is referring to Bitcoin’s break out of the $11,550 resistance level as indication that the uptrend will continue. These optimistic near-term projections from traders coincide with a historically accurate indicator which signals that bull run is imminent. The Bitcoin Hash Ribbon indicator lit up for the first time since it signaled a rally when BTC was hovering at $9,500. Market data provider Glassnode said: “The Bitcoin Hash Ribbon indicator can be used to identify market bottoms due to miner capitulation. It last indicated a buy signal when BTC was around $9,500, which is up over 20% since then.” Euphoria enters the crypto market In recent weeks, the cryptocurrency market has seen a significant increase in appetite for small and medium market cap assets. Led by the DeFi craze, altcoins have massively outperformed Bitcoin since the start of August. TradeBlock head of research John Todaro said: “This crypto market reminds me of early-mid 2017 when most mainstream media outlets ignored the space at large, while mid cap alts were doing 10-15x.” In the medium to long-term, the strong performances from altcoins could catalyze a strong Bitcoin rally. Previous price cycles show that a substantial altcoin market rally is typically followed by a profit-taking rally where the proceeds flow into Bitcoin and Ether (ETH). Keep track of top crypto markets in real time here
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The dollar’s recent weakness and the decline has economists calling for the death knell. Amidst the discussion surrounding dethroning the asset, other competing currencies, and even gold are being pointed to as alternatives suitable as the next global reserve currency. However, according to one ETF manager CEO, Bitcoin has also cemented itself as a viable “alternative to the dollar” and could one day assume its role. The Dollar’s Continued Decline Sparks Conversations Of Alternative Currencies The dollar’s role as the global reserve currency isn’t an easy one, but it does come with plenty of benefits. The dollar’s dominance has helped the United States’ economy thrive over the last hundred years, making it a superpower across the globe. All other assets in the world trade against USD and acts as the base currency in which all exchange rates are determined. The dollar has long enjoyed its power mostly unchallenged, but times are changes, the tides are turning for the US, and the dollar is being crushed by its own crown. Related Reading | US Dollar Could See Bearish Reversal: Is A Bitcoin Reckoning Coming? The entire global economy revolves around this major world currency, and maintaining the top spot isn’t always easy. The United States has been forced to print more and more money supply in order to stave off recession and help its citizens withstand the crunch from the country’s shrinking GDP. The global reserve currency’s weakness has sparked conversations about its eventual demise, but signs show that the currency is ready for a major comeback. This comeback could be responsible for the recent pullback in Bitcoin and gold. Move Over Gold: ETF Manager Says Bitcoin Has Cemented Itself As An Alternative To USD Still, discussions remain surrounding potential alternatives to the dollar. JP Morgan’s Stephen Roach pointed to the upcoming digital yuan, gold, or perhaps even Bitcoin as an alternative to the dollar. Others have begun to echo that sentiment, including CEO of ETF manager GraniteShares, Will Rhind. “Bitcoin’s rise is the same story as gold. Investors are looking for alternatives to stocks, bonds and the dollar,” he told CNN. “Gold is the currency of last resort, but bitcoin has cemented itself as an alternative to the dollar as well.” Although Bitcoin’s safe haven narrative fizzled out in late 2019 as the asset crashed and gold continued to gain, a recent trend says its returning in a major way. And this latest round is coming from hedge fund managers. Related Reading | Economist: Early Days of Bitcoin Uptrend Are Here, Breakout Has A Long Way To Go Recently, the Nasdaq-listed MicroStrategy disclosed a new 21,000 BTC investment to the SEC, calling the cryptocurrency a “reasonable hedge against inflation.” Paul Tudor Jones, another famous billionaire hedge fund manager compared Bitcoin to gold’s role in the 70s. And finally, a top British fund with billions of pounds worth of assets under management is considering allocating as much as 30% of their gold holdings into Bitcoin. This same hedge fund manager, says that Bitcoin has reached its now or never moment with institutions, who are ready to begin adopting the cryptocurrency alongside their gold holdings and other hedges against the dollar, stocks, bonds, and other failing investments.
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What exactly is a stock? -If you purchase stock in Google, you own a small fraction of Google. -When you purchase stock, you’re buying a piece of the company. -People buy stock in order to invest -Companies sell stock in order to gain revenue (money to build/grow the company) Example -A person starts a candy
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In this video Trading 212 explains how to use Japanese candlestick charts. You can easily learn the kind of signals a candlestick chart provides. Trading 212 gives you the main patterns to help you spot the trends on the currency market. Test and practice your Japanese Candlestick analysis in real market conditions with virtual money.
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Two topics that seem to draw out the most cynics, on their own, are "ESG" and "China". ESG is an acronym for Environmental, Social, and Governance factors used in making investment decisions, with "greenwashing" being just one accusation of many ESG funds. China, as I have come to appreciate after 10 years living here, is a market many American investors I speak with still seem to react to with more dismissal than curiosity. That explains why US-listed ETFs still have far more allocated to China via the China portion of broad emerging market ETFs than via China-specific ETFs. In this article, I wanted to focus on the newly launched KraneShares MSCI China ESG Leaders ETF (KESG) and see how it compares with the conventional iShares China Large-Cap ETF (FXI) and iShares MSCI China ETF (MCHI). One way I am probably more optimistic than most is that I see the opportunity to get ESG right in China as significantly greater than in any other single market I follow. Environmentally, I have seen how Beijing went from mostly bicycles when I first visited in 1996, to barely breathable smog city in the 2000s, to a showcase for "Clean Tech" just before the COVID-19 pandemic. Socially, China not only has the most people of any country, but has seen the greatest social and economic population transformation in history, and per capita GDP is still likely to grow faster in Chinese cities than American cities for at least another decade or two. Even investors who don't see any clear alpha opportunities in environmental or social factors are likely to see the edge that higher quality governance can make in a large emerging market still littered with fraud cases like Luckin Coffee (LK). KESG vs FXI and MCHI Holdings The below table lines up the top 25 holdings of MSCI China and how they compare with the top holdings of KESG and FXI. One key difference between MCHI and FXI is that MCHI includes over 600 companies listed on US, Hong Kong and Mainland Chinese exchanges, while FXI is limited to only 55 large Mainland Chinese stocks' Hong Kong listings only. KESG's top holding is e-commerce and delivery platform Meituan Dianping (OTCPK:MPNGY) with a 10.5% weight more closely matching FXI's 11% than MCHI's 3.7%. Second is WeChat owner Tencent Holdings (OTCPK:TCEHY), which KESG and FXI both weigh around 10% versus MCHI's 15%. Third is Alibaba (BABA), which as a US-listed ticker is not included in FXI and weighted about half as much in KESG as in MCHI. Seeing that KESG is also based on an MSCI index, I would have expected the weights to be closer to MCHI than to FXI, but the benchmark "MSCI China ESG Leaders 10/40 Index" limits each stock to no more than 10% of the index, and each sector to no more than 40%. Going further down the list, I am very curious to see how China Construction Bank (OTCPK:CICHY) and China Merchants Bank (OTCPK:CIHKY) both made the cut of "ESG Leaders" with the latter getting a KESG weight 5x that in MCHI and 20% more than that in FXI. As far as exclusions, KESG clearly screens out far more of the top 25 Chinese companies than it keeps, including internet companies Baidu (BIDU) and JD.com (JD), the mobile internet provider China Mobile (CHL), and device maker Xiaomi (XI). Source: iShares.com, KraneShares.com A Deeper Look At These ESG Leaders After seeing which names KESG overweights, market weights, or excludes, I have the curiosity to look at the MSCI reports to understand what factors made one company rank as an ESG leader and another as an exclusion. Fortunately, MSCI now makes ESG ratings pages, like the one below on MPNGY, freely available on their website. According to the below screen, Meituan got an ESG rating of "A" as of December 2019, a downgrade from an "AA" rating as of April last year, with its privacy and data security practices pushing it towards "leader" and governance and labor practices marked as "laggard". Even though this score was enough to keep MPNGY at the top of KESG's holdings, investors more concerned about these laggard factors may want to be more discerning. Source: MSCI Tencent and Alibaba both had "BBB" ESG scores when I checked, despite having only one "laggard factor" each, and unlike Meituan, TCEHY and BABA both seem to have positive "ESG momentum" with their BBB ratings being recent upgrades. When I look at top excluded companies JD.com and China Mobile, I see both have BB ESG ratings and three factors each in the ESG laggard columns. These alone, of course, don't tell the whole story, but do give me themes and keywords to look for next time I read reports or news stories on these names. Ping An (OTCPK:PNGAY) was also excluded from KESG, despite having an "A" rating (higher than TCEHY or BABA) and two factors each in the ESG leader and laggard columns. I also find it noteworthy that all three of these top names excluded from KESG have NOT been screened out of the iShares MSCI Emerging Markets ESG ETF (ESGE), which has over US$3 billion in assets under management. Conclusion As one might expect from an ETF named "ESG Leaders", KESG deviates far more from the "core" MSCI China index than a "less aggressive" ESG ETF might be expected to do. Even though it tracks an MSCI index, its top weighted component tracks a narrower large-cap ETF limited to Hong Kong listed names more closely than the weights of MSCI China. Despite these deviations, KESG still has similar weights allocated to big technology companies and to the financial sector as MCHI, with the biggest sector tilt being towards healthcare (KESG is 15% healthcare, versus 5.5% for MCHI or 3% for FXI). The lack of any consideration for valuation or financial quality, along with the index's choice of overweights and exclusions not always clearly aligning with MSCI's own ESG ratings, gives me enough pause to not have KESG replace other China ETFs on my list just yet. Are you looking to improve the income generating ability of your portfolio, not just this year, but for decades to come? Members of Long Run Income get my regular short form analysis, "dividend check" reviews on dozens of quality stocks, screens, model portfolio updates, and ideas like these that can significantly increase your investment income over time, as well as access to our members-only chat room for discussing your questions. See more of my latest ideas with your free trial to Long Run Income. Disclosure: I am/we are long CHL, TCEHY, BABA, BIDU, JD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Data from blockchain intelligence firm Flipside Crypto show that 50% of DAI, Maker’s decentralized stablecoin, is now on Compound (COMP). While the figure seems a positive factor for COMP’s growth, it shows a concerning trend for DAI. Since June, the amount of DAI on the Compound Decentralized Finance (DeFi) protocol rapidly surged. As of August, nearly $800 million worth of DAI is on Compound. Total value locked at Compound Finance (USD). Source: Flipside Crypto Why it could be a troubling trend for DAI DAI is the most dominant decentralized stablecoin in the cryptocurrency market. Unlike other widely-utilized stablecoins, like Tether (USDT), DAI is maintained by a peer-to-peer ecosystem. According to researchers at Flipside Crypto, when such a substantial portion of DAI’s supply is concentrated on one platform, it may lead to liquidity problems. Other users on other competing platforms might want to utilize DAI, but there could be a shortage of supply in the market. In the last two months, the DeFi market has added more than $4 billion in value. That naturally led the demand for most DeFi-related projects and services to surge. Namely, the appetite for decentralized stablecoins, like DAI, and oracles noticeably increased. Consequently, a large supply of the DAI flocked to dominant DeFi protocols. Current data from DeFi Pulse show that Compound has more than $790 million in total value locked, but the researchers emphasized that the mass inflow of DAI into Compound could become a problem. They explained: “DAI is the only crypto-backed stablecoin. It is meant to be more decentralized and censorship-resistant than the fiat-collateralized USDC and USDT. But a lack of liquidity could translate into uncertainty around using DAI as a decentralized stablecoin in DeFi protocols.” Flipside Crypto further explained that many DeFi teams are frustrated about DAI’s limited liquidity and stability. These liquidity issues, which are inherently difficult to solve for any decentralized project, might be pushing users to centralized stablecoins. The valuations of Tether and USDC have increased significantly since April. Now, Tether, the largest stablecoin in the global cryptocurrency market, is valued at over $10 billion. In the immediate-term, the Maker and DAI ecosystem could address the issue to uphold liquidity. But if no solutions are presented, the researchers warned it could damage DAI’s network effect. The researchers noted: “Already we’re seeing a lot of DeFi teams express frustration over DAI’s lack of liquidity and stability, with many opting to use USDC instead. This is likely to damage DAI’s network effects in the long run if nothing is done to address the issue immediately.” COMP and Maker continue to thrive Despite the sharp market correction that took place on August 11, Compound’s COMP token increased by more than 41%. Maker, the network which DAI is based on, also recorded a 20% rise overnight. The strong momentum of COMP and Maker are causing the prices of their native tokens to continuously increase. But the rapidly-increasing demand for both networks come with issues regarding scaling and liquidity.
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On August 11 the price of gold and silver showed some corrective movements, the same was seen in the cryptomarket. Bitcoin (BTC) dropped by $700 from $11,800 to $11,100 in one day, marking a short term correction.  However, is the overall bullish momentum gone from the crypto markets? Given the strong surges from Chainlink (LINK) and Tezos (XTZ) today, it seems that the bull market is still on fire.  Crypto market daily performance. Source: Coin360 Bitcoin holds crucial support at $11,200 If Bitcoin wants to sustain bullish momentum, the crucial support is between $11,100-11,300 as shown in the following chart. BTC/USD 1-day chart. Source: TradingView The daily chart shows a crucial support level in the green box. As long as that level sustains support, further momentum is likely to expect.  However, once the price of Bitcoin loses the support level at $11,100-$11,300, expectations are that the price makes a significant drop towards the $10,000 area. The next massive support zones are found at $9,700-$10,000, which is similar to the CME gap.  BTC CME 1-day chart. Source: TradingView Open gaps are quite frequently tested and closed before the market continues to rally upwards. In this case, the price accelerated in the weekend, through which a CME gap is left open between $9,650-$9,900. If the price of Bitcoin drops below $11,200, it’s likely to expect that the price will continue to fall towards these regions as multiple arguments are lining up. Not only are horizontal support levels found in this area, but the 100-day and 200-day moving averages are also approaching these zones to consistently provide support. What are the short term levels to watch for Bitcoin? BTC/USDT 4-hour chart. Source: TradingView The short term levels to watch are defined in the chart. On the upside, the clear resistance levels are structured at $11,700-$11,800 and $11,950-$12,050.  In the short term, the trend has switched as the price is making lower highs. Lower highs frequently indicate further downwards momentum, through which breaking those resistance levels are crucial if the price of Bitcoin wants to continue moving towards $15,000. However, it’s also crucial to sustain support at the $11,100-$11,250 level. If that level doesn’t support the next test, a likely drop towards the $10,800 or $10,000 levels is expected. The bullish scenario for Bitcoin BTC/USDT 4-hour bullish scenario chart. Source: TradingView The bullish scenario is defined in a straightforward manner. First of all, a rejection at the $11,700 level is likely to be expected, after which a test of $11,400 should provide support. If this scenario plays out, a likely break above $12,000 is on the tables. What are the targets for Bitcoin after this level?  Most likely $15,000 as the area between $11,800-$12,000 is the last massive resistance level before the bull market really heats up. The bearish scenario for Bitcoin BTC/USDT 2-hour bearish scenario chart. Source: TradingView The bearish scenario is surrounded by the same crucial levels, as a rejection at $11,700 could lead to a substantial drop. However, in the bearish scenario, the $11,400 level doesn’t provide support. Through such a drop, the $11,200 level could be tested another time, and the more often a level gets tested, the weaker it becomes. If the $11,200 doesn’t provide support in the next test, a drop towards $10,000 is on the tables.  The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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ATLANTA, GA – August 10, 2020 – Ternio’s ERC-20 payment token TERN, has been listed by global cryptocurrency exchange, Bibox. This news comes two months after Ternio’s announcement that they would be burning ten percent of the TERN supply, previously hosted on the Stellar Network, and making it available as an ERC-20 asset. Since the Ethereum based coins were first migrated in June, they have been listed on Idex and Uniswap, but the listing of TERN on Bibox marks the first adoption by a major crypto exchange. As of Wednesday, August 12, 2020 users will be able to purchase and trade TERN on Bibox. “Our ultimate goal is to drive adoption of TERN and usage of Ternio products like BlockCard, and adding TERN to exchanges like Bibox goes a long way in promoting the Ternio brand. This is what we envisioned when we made an ERC-20 version of TERN available earlier this year. Bibox will help us improve our company’s visibility and with our products reaching Asia Pacific by the end of the year, the timing couldn’t be better.” -Ian Kane, COO & Founder, TERNIO Ternio’s decision to migrate 100,000,000 TERN to the Ethereum blockchain was based on expanding the asset’s availability. With over 100 million wallets, the Ethereum blockchain is the second largest by market cap and provided the Ternio team with the opportunity to open up to a bigger community. While the Ternio platform was built on the Stellar Network, improving TERN’s ease-of-access continues to be a driving factor for the Ternio team. For users more familiar with the original token, the Stellar and ERC-20 versions of TERN will function interoperably on the Blockcard platform in the future, with the option to choose which version you want to use. TERN was created to be the payment token on all of Ternio’s products, which can be whitelabeled by any company interested in being its own bank and offering products like crypto debit cards and bank accounts. Ternio’s own platform, Blockcard, serves as a use-case for their ever expanding suite of products. Currently users can register for a BlockCard to easily spend the cryptocurrency of their choice and the recent release of Bank Accounts make it easy for users to move and and out of crypto seamlessly. Ternio is continuing to focus on accessibility and opening up to larger markets. The Blockcard platform aims to provide true crypto friendly banking services and has plans to release their crypto debit card and bank accounts in APAC by the end of 2020. ### About BlockCard BlockCard allows people to buy what they want with crypto at over 50 million merchants worldwide. The BlockCard platform is more than just a crypto debit card. It’s an evolving suite of tools that makes it easier, faster, and more convenient for users to purchase cryptocurrency and use it in their daily life. Today, the BlockCard debit card is the most efficient way to make a purchase with crypto or convert crypto to cash at ATMs. Within minutes a user can create a BlockCard account, deposit 12+ cryptocurrencies in 1 transaction, pass KYC, and immediately get a virtual card to use while a physical card is mailed to them. https://getblockcard.com/ About Ternio: Ternio is a global fintech platform built on blockchain. Ternio’s platform connects traditional enterprise, fintech, banking, systems with blockchain infrastructure giving real world utility to digital assets. Our products, like BlockCard, enable instant remittance and the transfer of value on blockchain rails in a compliant and regulated environment. https://ternio.io/ Ternio P​ress and Media AssetsContact: m​arketing@ternio.io This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Tags in this story Atlanta, bibox, BlockCard, Blockchain, BTC, Cryptocurrency, ERC-20, FDIC, Ian Kane, KYC, Payment Token, Stellar, TERN, Ternio, USD Image Credits: Shutterstock, Pixabay, Wiki Commons
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Bitcoin struggled to clear the $12,000 resistance zone and corrected lower against the US Dollar. BTC’s daily chart suggests the price could extend its decline towards the $10,500 support. Bitcoin topped near the $12,080 level and it is currently correcting gains. The price is trading below the $11,500 support and approaching the next major support. There is a key bullish trend line forming with support near $11,240 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could start an extended decline towards the $10,500 level if it breaks the trend line support. Bitcoin Price Correcting Gains Earlier this month, bitcoin price gained bullish momentum above the $11,00 level against the US Dollar. BTC even broke the $11,500 resistance and settled well above the 100-day simple moving average. There was a break above the $12,000 level and the price climbed to a new monthly high near $12,100. However, it failed to stay above the $12,000 level and recently started a downside correction. The bears were able to push the price below the $11,800 level. Bitcoin price traded below the 23.6% Fib retracement level of the upward move from the $9,000 swing low to $12,100 swing high. It is now trading near the $11,300 level. There is also a key bullish trend line forming with support near $11,240 on the daily chart of the BTC/USD pair. Bitcoin price trades below $11,500: Source: TradingView.com If the pair breaks the trend line support, there is a risk of an extended decline. The next major support is near the $11,000. The main support is near the $10,500 level or the 50% Fib retracement level of the upward move from the $9,000 swing low to $12,100 swing high. Fresh Increase? If bitcoin price stays above the trend line support or $11,200, it could bounce back. An initial resistance is near the $11,500 level, above which the bulls could gain strength. The main hurdle is still near the $12,000 barrier, above which the price is likely to start another strong rally in the coming days. In the mentioned case, it could rise towards the $12,400 and $12,500 levels. Technical indicators: Daily MACD – The MACD is slowly moving into the bearish zone. Daily RSI (Relative Strength Index) – The RSI for BTC/USD is now correcting lower towards the 50 level. Major Support Levels – $11,200 followed by $11,000. Major Resistance Levels – $11,500, $11,800 and $12,000.
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A big issue that many crypto traders and investors run into is high transaction fees when withdrawing Bitcoin and other digital assets from exchanges. Some platforms, in fact, are infamous for charging in excess of $5-10 for the processing of a withdrawal. There are solutions to this issue, though. Coinbase, earlier this year, rolled out “transaction batching” for Bitcoin withdrawals. The company has since announced that this has allowed them to realize 75.2% savings on transaction fees, reducing the cost to use Coinbase for customers. Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse” How Coinbase Realized 75% Savings on Transaction Fees Transaction batching is the process in which crypto service providers package multiple withdrawal requests of Bitcoin (or another UTXO-based cryptocurrency) from customers into a single transaction. This decreases the transaction fees incurred by the transactor, this more often than not being crypto service providers. According to a blog post published by Coinbase’s Brock Miller on August 11th, this system has allowed the company to spend one-quarter the amount of BTC they spent on Bitcoin before: “Earlier this year, Coinbase rolled out Bitcoin transaction batching. Since launching, we have batched 100% of Coinbase Consumer and Coinbase Pro customer send requests for Bitcoin. Over this time, we’ve realized 75.2% savings in transaction fees and have passed all of those savings on to our customers. We’ve also reduced our daily transaction count by 95%.” Coinbase’s implementation of this system went on to help the rest of the Bitcoin network, as Coinbas transactions accounted for a sizeable portion of on-chain transactions before batching was implemented. “Conservative estimates suggest that this has contributed to a 10–15% reduction in the number of confirmed transactions per day on the entire network. This transaction count reduction is beneficial for the network as a whole, and should help lower fees for all Bitcoin users.” Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches Ethereum’s Transaction Fee Situation Coinbase’s comments on Bitcoin transaction fees come as Ethereum has been seeing its own issues with high transaction fees. As reported by NewsBTC previously, Ethereum transaction fees are reaching highs not seen since the summer of 2015. As economist Alex Krüger explained: “High demand is driving Ethereum gas prices up. The 30 day average gas price has recently reached levels only seen in the summer of 2015, right after Ethereum launched.” Chart of the average gas cost (Gwei) of Ethereum transactions from Etherscan, shared by Alex Kruger, a cryptocurrency analyst and economist. Ethereum is also seeing the implementation of solutions to stem this issue, which has become especially pertinent as DeFi has garnered traction. Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Coinbase Managed to Save 75% on Bitcoin Transaction Fees: Here's How
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In the wake of widespread outrage and protests about racial injustice, many people are looking at their stock portfolio and wondering: what can I do to support racial justice with my dollars? If you are an investor of any type — whether you have a 401(k), IRA, or trading account — there are a few things you could do to promote racial equity. ESG investing: the basics You may have heard of ESG investing, which stands for “environmental, social and governance.” It is also often called sustainable, socially responsible or simply “values” investing. It’s an investment strategy that selects stocks and bonds based not only on traditional financial criteria, but also based on the impact of different companies on society and the environment. Proponents of ESG investing point to a growing body of evidence that suggests sustainable investing may actually improve a portfolio’s performance, while also serving the greater good. Over the past five years, sustainable funds have outperformed their conventional peers in both up and down markets, according to a Morningstar report. Also, as markets tumbled during the first quarter of 2020, almost 60% of the biggest U.S. sustainable mutual funds and exchange-traded funds lost less in market value than the S&P 500. The popularity of socially responsible investing has exploded in recent years. In early 2020, around 74% of global investors said they plan to increase their ESG allocation over the next year. In the first quarter of 2020, U.S., sustainable funds saw inflows of $10.5 billion, according to Morningstar — a more than 10-fold increase from the first quarter of 2010. And even as markets tumbled due to the coronavirus crisis, global demand for ESG proved resilient. The global sustainable-fund universe saw inflows of over $45 billion in the first quarter, while the overall fund universe saw outflows of more than $380 billion, according to Morningstar. The challenges of measuring social impact What exactly goes into an ESG portfolio? Environmental factors often include things like carbon emissions and water usage. Social impact may involve working conditions for a company’s employees and gender or racial equity. And governance criteria often have to do with board oversight and transparency. In light of recent events, the “S” — or social — part of ESG has come into focus, as more and more people are looking at the social impact of large corporations, specifically from a racial justice standpoint. That’s where things get a little tricky. There are more than 300 funds marketed as ESG in the U.S., according to Morningstar. But there’s no official definition of “socially responsible” investing. To further complicate the issue, there are dozens of different companies that issue ESG ratings, ranging from large data providers, like MSCI and Sustainalytics, to smaller companies and even nonprofits that focus on topics like gender-pay equity and civil liberties. Unlike accounting standards, there is not one unique methodology. Some of the data is self-reported by the companies, and some of it is done by third parties, who are often estimating. There are of course some broad principles, like how the company treats its workers — but these are often hard to quantify. For example, companies can get a high score for having anti-harassment policies in place, without tracking how well the policies are actually implemented. “There are not yet clear apple-to-apple comparisons across the board even for public companies, let alone private companies,” said Andrei Cherny, CEO of Aspiration, an online “financial firm with a conscience,” which offers a variety of banking and investing products focused on environmental and social impact. Cherny has called for regulators to require public companies to report ESG-related data, such as carbon emissions, diversity of their workforce, and how they pay their employees — just like they have legal obligations to report their financial performance. “Those are factors that investors need to know just as much as they need to know the price-to-earnings ratio,” he said. Other industry leaders echo Cherny’s thoughts. For instance, in the wake of recent events, Calvert Research & Management, a prominent sustainable-investing shop, called for companies to “accurately assess their racial diversity” and make it public, provide pay equity disclosure across race and gender, and publicly state what they are doing to combat racism and police brutality. Meanwhile, some asset managers have decided to influence change from the inside. Neuberger Berman, which manages $330 billion, decided to use its shareholder status to drive governance and sustainability practices. In April 2020, the company announced that it would publicly disclose and explain the firm’s voting rationale and intentions at more than 25 key annual shareholder meetings. “Normally shareholders vote quietly behind the scenes,” said Jonathan Bailey, Head of ESG at Neuberger Berman. Instead, by providing advance vote disclosure, Neuberger Berman intends to educate investors and the public on “why we’re voting a particular way,” Bailey said. For example, ahead of Marriott International’s MAR, -1.01% May 8 shareholder meeting, Neuberger Berman announced it intended to vote in favor of a proposal to enhance diversity reporting, along with an explanation of why that could affect the company’s financial performance. “We have a responsibility, as market participants, to take [these issues] seriously; they’re financially material issues,” Bailey said. The proposal did not end up passing, as it gathered about 30% shareholder support, according to a Neuberger Berman spokesperson. Niche products focusing on racial justice While there are currently no industry-wide standards around social impact, a few companies have launched niche products specifically targeted at race and equality. For example, OpenInvest, a company that builds indexes and other investing tools around social causes, has created an index specifically on racial justice. It screens for metrics like board member inclusion, workforce diversity and which companies pollute the most in communities of color. Similarly, Impact Shares, a nonprofit provider of exchange-traded funds, partnered with the NAACP to launch a first-of-its-kind racial empowerment ETF. But what the ESG industry has been missing is that “your social priorities may be drastically different from my social priorities,” said Ethan Powell, CEO of Impact Shares. For example, some ESG funds hold shares of liquor or gaming companies. These holdings might be a problem for some investors, but not others. Powell envisions a future where “effectively every social issue will be reflected with a separately investible fund,” so that investors can create portfolios that are reflective of their individual social priorities. Partnering with nonprofits could play a key role in the development of such products, according to Powell, because social-advocacy organizations are in a better position to understand the particular social issues at hand. What many experts agree on is that growing investor demand will inevitably push the industry to innovate. Years ago socially-responsible investing offered just a few options to cover a small piece of investors’ stock portfolios. Today, there are hundreds of different mutual and exchange-traded funds to pick from, not just in equities but also in fixed income and even junk bonds. One study showed that around $12 trillion of assets in the U.S. are managed under some sustainable investing strategy. So while you wait for the industry to establish widely-accepted standards, you could start building your own socially-responsible portfolio by looking at the ratings and methodology of different funds and companies and picking what aligns best with your values and financial goals.
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The shocking death of Alex Kearns, a 20-year-old day trader who recently died by suicide, highlights a broader caution to young people: do not get sucked into digital trading platforms — no matter whether they have noble-sounding names or are “free.” You will most likely lose your money or worse. There are better ways to make money. With the exception of people like Warren Buffett, humans are poor investors and even worse traders. Sure, the occasional human might get lucky, but in general, the odds are heavily stacked against you. Unless you have some special information or expertise, you are best off investing in a market index as early in life as possible and enjoying the benefits of compounding. Read:The rise of mom-and-pop investors in the stock market will ‘end in tears,’ warns billionaire Cooperman I have been teaching and engaging in systematic investing for over 20 years. My core message to all students and professionals is to not overestimate their competence or the quality of their beliefs, but to continually challenge them. The second reason for caution is more sinister. It involves the “objective functions” of the platforms where you park your money. How do they make money if they are free to users? Digital trading platforms make money through a complex web of rebates for funneling trading activity downstream to various venues, and collecting interest on money flowing through the system. Their objective is to therefore maximize the flow of dollars through the system, period. All accounts of any size are welcome. How you perform is largely irrelevant to their business model as long as there are some “intermittent rewards” for the user, like a winning trade. Indeed, the experience created is one of gamification. It is fun, like being in a casino, which is pumped with oxygen to stimulate flow. As a former designer of Google recently remarked “if you’re an app, how do you keep people hooked? Turn yourself into a slot machine.” But digital platforms are worse than casinos, where most games are relatively simple and easy to understand. And the casino doesn’t loan you money to make your bets. The trouble is that most people, including professionals, don’t often understand the subtle but important nuances of the financial products they trade, which increase in complexity by the day. Many products, for example, provide “free leverage,” like a triple-levered version of the SPDR S&P 500 ETF Trust SPY, +1.39%, an exchange-traded fund that tracks the S&P 500 index. A common misconception is that the triple-levered version, which is called a “derivative” product, will result in triple the performance of the single-levered ETF. In reality, however, performance can diverge considerably even over a few days, depending on how the product is managed, which is typically in fine print that retail investors don’t read. The marketplace is full of ways to harm yourself. A student from my most recent Systematic Investing class at New York University gleefully shared how the class had helped him make 150% on his investment and pay off his student loan. I congratulated him, but told him he could just as easily have lost more than that amount, and to be cautious about leverage. A less cheerful account from 10 years ago involved a more experienced trader, whose family money was wiped out during the flash crash of May 2010 due to how his orders were executed. He never recovered it. The bottom line is this: don’t trust digital platforms that appear to be “free.” You will pay the price one way or another and may not be aware of it. Over the long run, the more you trade, the more you will lose. And do not trade products you don’t understand, especially if they involve fine print. But what if you really want to trade? Perhaps it is an addiction you cannot control. Perhaps it is the rush of making money, or engaging with the markets for its own sake and taking risk intelligently. In this case, one path I recommend is to apply the scientific method to the problem using large amounts of data. This requires a conceptualization of the problem, hypotheses, data and algorithms. Specifically, it requires a process that is applied consistently to the data and is not impacted by emotions or preferences. This is more involved in terms of setup than making discretionary day-trading calls, but if it done properly, will provide you with outcomes that are based on applying a concept consistently instead of becoming a victim of fear or greed. A second path I recommend requires an analysis of fundamental factors like the economy or the company’s business prospects. For example, there are significant opportunities created by crises like the current pandemic. We might analyze, for example, what changes COVID-19 will induce in human behavior that are likely to be permanent. One such irreversible trend is “virtualization,” which favors entities and sectors where products and services can be delivered digitally, and punishes those with large physical assets and heavy debt burdens. In my analysis, I drew parallels with the previous crisis of 2008-09 and teased out what is likely to be different about the recovery this time. For example, commercial real estate rebounded incredibly strongly after the financial crisis, but this would be surprising with the increase in remote work. Such an analysis can be supported by data, but there is no getting around the hard work of poring through financial statements and assessing economic trends, and then picking the investments most likely to profit if you are right about your assumptions. There are very few things in life that are more important than money. Acquiring it is difficult and growing it is challenging. The last thing you want to do is gamble. Do not trust the “objective functions” of digital trading platforms since their objectives are unlikely to align with yours. Think deeply and invest wisely. Vasant Dhar is a professor at New York University’s Stern School of Business and the director of the Ph.D. program at the university’s Center for Data Science. He is the founder of SCT Capital Management, a machine-learning-based systematic hedge fund in New York City.
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Bitcoin price fell by 9.8% last week, registering its most significant weekly decline since mid-March. The currency hit a two-week low of $8,630 early Monday, with prices last seen at $8,730—which is down more than 11% from a post-halving high of $9,960 on May 18. The recent price drop is, in turn, causing the number of addresses holding smaller amounts of Bitcoin to rise. The number of unique addresses that are holding at least 0.01 BTC (approximately $87 at current price) rose to a new high of 8.47 million on Sunday, according to blockchain intelligence firm Glassnode. At the same time, the number of addresses holding at least 0.1 BTC (roughly $870) rose to a lifetime high of over 3 million households on Friday. Some believe the increased demand during the price dip may be associated with the idea that Bitcoin could repeat history by charting a price rally over the next 12 months. The cryptocurrency experienced a 30% pullback in the four weeks that followed its second reward halving on July 9, 2016. However, the decline was erased in the months that followed, and prices rallied to record highs by March 2016. “The price pullback was expected, and the long-term bias remains bullish," said QCP Capital's co-founder and managing director Darius Sit. "We would accumulate if prices drop to the $6,000-$8,000 range." Of course, the number of small addresses doesn't necessarily represent new individual investors because a single person can hold cryptocurrency in more than one address. On top of that, exchanges and custodial services also hold Bitcoin in multiple addresses. “Wallet management systems of virtual asset service providers have become more complex and granular. Their wallet clusters include more small wallets for security,” said Ju. Even if small investor participation has been increasing, it's unlikely to have a significant impact on Bitcoin price, as the market is still dominated by large players, which are typically known as “whales.” On the flip side, the number of addresses holding at least 10,000 BTC and 1,000 BTC have gone down over the last two weeks, according to Glassnode. > > Persisting Problems: Will Blockchain Be Used in the Next US Election? What's more, options market activity is suggesting a more profound price drop could be in the offing in the near-term. “Traders are buying out-of-the-money puts,” said Head of Digital Assets at Swissquote Bank Chris Thomas. A put option is a bearish bet on the cryptocurrency, and a call option represents a bullish bet, while an out-of-the-money put option has a strike price that's lower than the market price of the underlying asset. Thomas said he expects Bitcoin to move toward the $8,000–$8,200 range in the short-term, which looks likely, as the cryptocurrency has breached a trendline rising from March lows. Bitcoin fell by 5% on Monday, going against the support of the 2.5-month-long bullish trendline. “However, the relative strength index is neutral,” Yuriy Mazur, head of data analytics at cryptocurrency exchange CEX.IO, told CoinDesk. “There is no clear understanding where BTC will go, currently. It may either retrace back to $6,500 or reach $10,000. We may get a clear indication of the further direction in the nearest days.” The immediate bearish case will weaken if Bitcoin price rises above Sunday’s high of $9,310 on the back of strong volumes. However, it may take a convincing move above $10,000 to restore the bullish trend. Featured Image: DepositPhotos © ulchik74 Please See Disclaimer If You Liked This Article Click To Share Previous Bitcoin Soars Above $9K Mark with Strong Momentum
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The cryptocurrency market might have had a horrid time over the past few weeks, but things have changed this week. Much of the reversal in fortunes is possibly tied to the upcoming Bitcoin halvening event. Why the Sudden Jump? The world’s biggest cryptocurrency by market cap has been in the doldrums due to the coronavirus-induced market crash over the past weeks, but now it seems to be on course to reach its previous levels. This morning, Bitcoin gained 1.9% to hit $9,099 a token, and that is a strong start, considering the fact that it gained 15% yesterday. Any major rally in Bitcoin is generally followed by a rally in other cryptocurrencies as well, which is exactly what happened today. Other major cryptocurrencies like Bitcoin Cash and Litecoin recorded gains for the third consecutive day. Over the past few weeks, the price action in the crypto sphere has been in lockstep with other asset classes that are classified as risky. However, the situation has changed dramatically this week. Crypto experts suggest that the rally in Bitcoin is possibly linked to the halvening event that is going to take place this May. A halvening indicates the slashing of rewards by 50% for Bitcoin miners, and when that happens, it usually results in a lower supply of BTC tokens in circulation. Many analysts are pondering whether the cryptocurrency is going to experience a crash at this time. As a matter of fact, it is important to point out that in the past, the cryptocurrency has shown significant bearish price action on the day of the halvening. > > Ethereum Soars Over 125% Since March: What to Expect Now? That being said, it is also necessary to point out that it is very difficult to predict whether BTC is going to rise or fall on the day of the halvening event. However, it should be kept in mind that months after the previous two halvening events, Bitcoin went on strong rallies. Featured image: DepositPhotos © peshkova Please See Disclaimer If You Liked This Article Click To Share NEXT PAGE NEXT Previous Bitcoin Slumps as Crude Oil Crashes Next Bitcoin Price Hits Two-Week Low, Garnering Interest from Small Investors
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Over the years, it became accepted wisdom that Bitcoin was a store of value, and that it could work as a hedge against market fluctuations. However, this has not turned out to be the case during the course of the current prolonged market turmoil. After the oil price crash on Monday, the world’s biggest cryptocurrency has continued to slump at an alarming rate. After having found resistance at $7,200, BTC soon plunged to $6,800 per token yesterday, and it remains to be seen whether it can manage to recover today as the market turmoil continues. Oil's Plunge Triggers BTC Sell-Off On Monday, oil prices tanked as oversupply fears grew among traders and institutions. Traders started winding down their positions in the West Texas Immediate contracts and thereby sent the price of oil crashing. The price of oil sank into the negative territory, which indicated that entities were being paid to take oil from distributors. The historic sell-off resulted in a collapse in the financial markets all over the world, and in this regard, Bitcoin did not prove to be an exception. Stocks declined all over the world, and Dow Jones Industrial Average opened lower this morning as well. The equities markets have now started to have a correlation of sorts with the price action in Bitcoin, and that was seen yet again as both declined in lockstep. The massive decline in the crude oil market has also had a profound impact on the stock markets, which were already reeling from the sell-off brought about by the coronavirus pandemic. > > Bitcoin Halving is Coming Soon: What to Expect Now? In addition to that, BTC is going to have its halving event in less than a month, and traders are likely considering the possible effects of the market situation on that event. In the past, BTC experienced a bump in price after a halving event, but there is uncertainty whether this will be able to happen under current circumstances. Investors and traders are likely to keep a close eye on Bitcoin in the coming days as it tries to recover lost ground. Featured image: DepositPhotos © alexeys Please See Disclaimer If You Liked This Article Click To Share NEXT PAGE NEXT Previous Bitcoin Halving is Coming Soon: What to Expect Now? Next Bitcoin Soars Above $9K Mark with Strong Momentum
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The crypto sphere has seen a lot of buzz over the past few months with regards to the Bitcoin halving that is going to take place in May. Bitcoin is the biggest cryptocurrency in the world, and it is only natural that the upcoming halving event has caused such a stir in the crypto sphere at large. Key Things to Watch However, there is something else that needs to be considered at this point. The markets across the world have been sent into a tailspin due to the onset of the coronavirus pandemic, and it is worthwhile to consider whether this is going to affect the halving event. A halving event literally cuts the rewards earned by miners when mining a coin by 50%, and over the years, such an event has proven to be a good thing for Bitcoin. In the past, Bitcoin's price saw a spike following such a measure because halving often led to a rush of new investors into the cryptocurrency. However, this time, the situation could be different. The coronavirus pandemic has unleashed economic miseries, with hundreds of thousands of people losing their jobs and having to take checks from the government. The turmoil could have an effect on the number of people who are actually willing to spend any money on buying cryptocurrencies after the Bitcoin halving. > > Ripple's Xpring Introduces Smart Features to XRP Ledger Financial markets all over the world have been rocked by widespread sell-offs, and the United States Federal Reserve has had to announce a stimulus package worth trillions of dollars to try and stabilize the stock markets. As a matter of fact, there are widespread fears that the world is going to change forever due to the effect of this particular pandemic, and there is a feeling that cryptocurrencies might not even exist in the coming years. So it definitely seems likely that the current situation is going to have an effect on the Bitcoin halving event. What do you think? Featured image: DepositPhotos © aa-w Please See Disclaimer If You Liked This Article Click To Share NEXT PAGE NEXT Previous Bitcoin (BTC) Soars 10% on Strong Momentum: A Change Coming? Next Bitcoin Slumps as Crude Oil Crashes
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The coronavirus pandemic has had a highly damaging effect on the capital markets, and eventually, the effect was felt in other asset classes like cryptocurrencies as well. While this did affect the world’s biggest cryptocurrency, Bitcoin has made a remarkable recovery over the past 24 hours. BTC gained 10% in the last 24 hours, and the total value of the entire crypto market soared by $14 billion. Bitcoin was trading at $6,580 this morning in Singapore, and it seems likely that the cryptocurrency is going to be in focus among traders today. Rally Across the Board It should be noted that Bitcoin was not the only major gainer in the crypto market in the past 24 hours. Other than BTC, Ethereum (ETH) soared by 7%, while Ripple (XRP) gained 5%. Ethereum is the world’s second-biggest cryptocurrency by market cap, while XRP is the third-biggest, and this sort of a move suggests that the tide might be turning for the crypto space as a whole. Earlier in March, the crypto space took a massive beating as it suffered from a damaging sell-off due to the oil price crisis. Back on March 12, the entire cryptocurrency market lost $93.5 billion in value due to the aforementioned sell-off. > > Is Bitcoin (BTC) a Buy After the Recent Market Sell-Off? The surprising thing for many crypto analysts has been the fact that Bitcoin, which ultimately is the bell weather of the crypto market, suffered in conjunction with the stock markets. In the past, BTC had been regarded as ‘digital gold’ and as a ‘hedge’ against the equity markets by many experts, a safe-haven stock if you will. However, BTC has not behaved in this manner over the past weeks, and even after the recent rally, it is still trading at a lower level than it was at the start of this year. Featured image: DepositPhotos © merznatalia Please See Disclaimer If You Liked This Article Click To Share NEXT PAGE NEXT Previous Is Bitcoin (BTC) a Buy After the Recent Market Sell-Off? Next Bitcoin Halving is Coming Soon: What to Expect Now?
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SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Friday’s session are DuPont, Nike Inc., and KB Home. DuPont DD, +1.45% : The chemical company late Thursday cut its second-quarter and full year profit outlook due to worse-than-expected performance of its agriculture unit. Shares fell 1.9% in extended trading.
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