Yesterday, Bitcoin put on a display that should put to rest any lingering doubts that it is a stable currency that could be used to pay for products or services. The current month Bitcoin futures contract at the CME swung between a low of $30,250 to a high of $43,530 – a difference of $13,280 in one trading session. From its intraday high of $58,140 on Wednesday, May 12, to its close one week later on Wednesday, May 19, Bitcoin had lost 34 percent of its value.

As we explained here at Wall Street On Parade on May 12, some of the smartest minds in the investment community think Bitcoin is very bad for America. One of the most iconic investors in America, Warren Buffet, stated in May 2018 that Bitcoin is “probably rat poison squared.” In January of the same year, Buffet told CNBC in an interview that “In terms of cry ... Read more »

Category: News | Views: 129 | Added by: danyagames2007 | Date: 20.05.2021 | Comments (0)

Wall Street racked up more losses Wednesday as the stock market pulled back for the third straight day. The broad sell-off went beyond stocks, with the price of Bitcoin and other cryptocurrencies falling sharply.

The S&P 500 index dropped 0.3% after recovering from a 1.6% slide earlier in the day. The benchmark index is on track for its second weekly loss in a row.

Bank stocks were among the biggest decliners. Goldman Sachs fell 1.7% and Wells Fargo lost 1.5%. A range of retailers and other companies that rely directly on consumer spending also pulled the market lower. Home Depot slid 0.7%, Gap fell 3% and L Brands dropped 3.1%.

Energy sector stocks, the biggest gainers so far this year, bore the heaviest losses ... Read more »

Category: News | Views: 173 | Added by: danyagames2007 | Date: 20.05.2021 | Comments (0)

STATE OF CANADA’S FINANCIAL SYSTEM

If the Bank of Canada has concerns about potential spillover risks emanating from the country’s red-hot housing markets and high household debt levels, we’re likely to hear about it today with the release of the central bank’s annual Financial System Review. We’ll break the news at 10 a.m. ET and will have live coverage of Governor Tiff Macklem’s news conference at 11 a.m. with analysis from C.D. Howe Institute Senior Fellow Ed Devlin.

IN CONVERSATION WITH CPPIB CEO

We’ve got John Graham on the network today for the first time since he took over from Mark Wiseman as head of the Canada Pension Plan Investment Board. The backdrop for today’s conversation is a record full-year return of 20.4 per cent  just posted by the country’s ... Read more »

Category: News | Views: 146 | Added by: danyagames2007 | Date: 20.05.2021 | Comments (0)

Bitcoin has recovered slightly after losing almost a quarter of its value in little over 24 hours, and is currently hovering around $40,000 (£28,000).

The world’s largest cryptocurrency was standing at $45,500 (£32,000) on Tuesday, but tumbled below $35,000 (£25,000) yesterday.

Other cryptocurrencies followed suit, with Ethereum and Dogecoin also losing more than a fifth of their value.

The last two weeks have brought the crypto market back to earth after a roaring start to 2021.

Bitcoin is still worth four times what it was at this time last year, but the crash – which has been caused by a Chinese crackdown on cryptocurrency – has some market analysts and investors concern ... Read more »

Category: News | Views: 1107 | Added by: rozhkovagency | Date: 20.05.2021 | Comments (0)


The value of bitcoin is “entirely based on wishful thinking”, Deutsche Bank has said in a note to clients, adding that the cryptocurrency had now become “tacky” rather than trendy for investors.

The investment bank weighed in on the cryptocurrency’s future after a flash crash saw bitcoin drop more than 30% to below $30,000 in a matter of hours on 19 May. It has later recovered to around the $40,000 mark, but remains incredibly volatile.

“Bitcoin’s...

Source:fnlondon.com

... Read more »

Category: News | Views: 163 | Added by: danyagames2007 | Date: 20.05.2021 | Comments (0)

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