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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NEW YORK (MarketWatch) — A spurt of acquisition announcements or talk of deals involving Wisconsin Energy Corp., Oracle Corp., and General Electric Co. may set those shares up for active trading in Monday’s session. Wisconsin Energy Corp. WEC, +2.03% said it would buy Integrys Energy Group Inc. US:TEG in a cash-and-stock purchase valued at $9.1 billion, including debt. Oracle Corp. ORCL, -0.14% shares may move after the tech company was reported to be close to a deal to buy Micros Systems Inc. US:MCRS for $5 billion. This would be the largest acquisition since Oracle bought Sun Microsystems in 2010. General Electric Co. GE, -0.14% could garner attention after French engineering group Alstom SA ALSMY, +4.41% ALO, +2.57% on Saturday officially accepted a sweetened offer for its power-equipment unit. Separately, Banco Santander SAN, -0.69% agreed to buy GE Capital’s consumer-finance business in Sweden, Denmark and Norway, the Spanish bank said in a statement on Monday. Banco Santander’s consumer-finance unit will acquire the GE Money Bank AB business for about 700 million euros ($952 million), with the deal expected to close in the second half of 2014. Harbinger Group Inc. US:HRG is preparing to make a $1.1 billion bid for Central Garden & Pet Co. CENTA, +2.23% , The Wall Street Journal reported, citing a source familiar with the matter. Harbinger, the holding company led by hedge-funder Philip Falcone, disclosed a 3.1% stake in the company earlier this month. Micron Technology MU, +1.67% is projected to report third-quarter earnings of 69 cents a share, according to a consensus survey by FactSet. “While we expect the company to deliver solid May quarter results, we look to the August quarter and beyond when the industry faces supply constraints in light of continued demand growth,” said analyst Hans Mosesmann at Raymond James Equity Research in a recent report. He also reiterate the stock’s strong buy rating and raised the price target to $40 from $30. Sonic US:SONC is expected to post earnings of 29 cents a share in the third quarter. Mild spring weather and late arrival of summer are likely to have weighed on the fast-food restaurant’s same-store sales in the quarter, according to analyst Rachael Rothman at Susquehanna International Group. CBS US:CBS, Comcast Corp. CMCSA, +1.05% and other entertainment companies are expected to be in the spotlight as investors await a Supreme Court ruling on the legality of Aereo that could come as early as Monday. Aereo provides services to allow subscribers to stream local over-the-air broadcasts to various electronic devices. Major broadcasters are arguing that Aereo violates their rights under federal copyright law. More must-reads from MarketWatch: Has the English language been reduced to ‘Yo’? Will demographics cut stock-market returns? Candid talk about insider trading from one who did it
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SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Friday’s session are Oracle Corp., Smith & Wesson Holding Corp., and Family Dollar Stores Inc. After Thursday’s closing bell, Oracle ORCL, -0.14% said its fiscal fourth-quarter profit fell to $3.65 billion from $3.81 billion a year earlier. Per-share earnings were unchanged at 80 cents a share while adjusted earnings came in at 92 cents a share, short of 95 cents a share forecast by analysts in a FactSet survey. Revenue rose $11.3 billion from $10.95 billion. Oracle shares declined more than 6% in after-hours trading. Oracle Corp. signage is displayed outside of the company's headquarters in Redwood City, Calif. Bloomberg Smith & Wesson US:SWHC reported fiscal fourth-quarter profit of $25.1 million, or 45 cents a share, compared with $25.2 million, or 39 cents a share, a year ago. Revenue fell to $170.4 million from $178.7 million. In the current quarter, the company expects to earn between 23 cents and 25 cents a share and between $1.30 and $1.40 a share for the full year. Analysts are projecting earnings of $1.50 a share for the full year. Shares of Smith & Wesson dropped 12% in after hours. Activist investor Carl Icahn released a letter to Family Dollar Stores’ Chief Executive Howard Levine in which he noted their differences over the future of the company. Icahn, who holds a 9.4% stake in the discount retailer chain, believes the company can do more to be competitive and warned that “consolidation in this space is inevitable.” Shares of Family Dollar US:FDO rose 2.7% in after hours. More must-reads from MarketWatch: Oil’s surge might ‘tip the scale toward a correction’ – video chat highlights 10 founders booted out of their own companies Stocks’ rise to records fails to lift Wall Street forecasts
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