TagUS

Dow Jones Primed for a 100-Point Boost on US-China Trade Optimism

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Donald Trump, DOW Jones, China

US President Donald Trump is scheduled to meet China’s President Xi’s special trade talk envoy Liu He today. The meeting could mean progress in US-China trade talks and set the Dow Jones and US Stock Markets on track for an end of week boost. Donald Trump to Meet China’s Vice Premier Liu He Liu He is the designated top negotiator for China. With the March 2 trade resolution deadline looming time...

Apple’s Asia Suppliers Slash Sales Forecasts as US-China Trade War Bites

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Apple’s suppliers in Asia are cutting sales forecasts in anticipation of reduced iPhone sales as the U.S.-China trade war drags on. Among the hardest hit include Taiwan Semiconductor Manufacturing CO (TSMC) which singlehandedly supplies the iPhone’s core processor chips. According to the Nikkei Asia Review, TSMC estimates that its revenues during this year’s first quarter will fall by 22%...

No, the Price of Bitcoin Didn’t Drop Because of Bomb Threats

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bitcoin bomb hoax

On Friday, as the Bitcoin price fell by around six percent against the U.S. dollar, several reports claimed that the dominant cryptocurrency dropped in value due to bomb threats. One report from Business Insider Australia, for instance, stated that following an email blast of bomb threats in New York, the price of the crypto asset endured a correction. Wrong Argument Against Bitcoin A common...

Europe’s Top Asset Manager Calls For Crypto Ban While U.S. Institutions Build

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Allianz blockchain

According to a Reuters report, Allianz Global Investors (GI) CEO Andreas Utermann encouraged regulators to outlaw crypto. At a conference held in London, directed toward Andrew Bailey, the head of Britain’s Financial Conduct Authority. Utterman said: “You should outlaw it [crypto]. I am personally surprised that regulators haven’t stepped in harder.” Regulators Aren’t...

US Stock Market Experiences Drastic Trend Reversal While Crypto Plunges

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dow jones government shutdown

Over the past eight hours, the U.S. stock market demonstrated one of the most drastic trend reversals of 2018. Meanwhile, more than $16 billion was wiped out of the crypto market. Throughout the past 48 hours, the U.S. stock market and the Dow Jones seemed to be experiencing a steep decline in value, as the Dow Jones crashed from 25,833 to 24,261, by more than 1,572 points. It is unusual for an...

Mark Yusko: US Stock Market Bloodbath Likely, Bitcoin a Good Long-Term Bet

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NYSE Satoshi Nakamoto

Student loans, credit card debt, mortgage, corporate loans, and all kinds of debt are placing huge pressure on the U.S. stock market. Over the long-term, Mark Yusko believes emerging markets and Bitcoin are viable long-term bets for investors. On CNBC’s Fast Money, Morgan Creek Capital Management CEO and chief investment officer Mark Yusko expressed his concerns towards the “melting” stock market...

Investors in US Market Paid $39,000 to Buy Bitcoin at Peak Using GBTC

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bitcoin price

In the bull market of 2017, crypto investors paid more than $40,000 per Bitcoin (BTC) to purchase the dominant cryptocurrency. In the US market, a product called the Bitcoin Investment Trust (GBTC) offered by Grayscale Investment, a subsidiary of Digital Currency Group (DCG) exists that allows retail investors to invest in Bitcoin through the same account used in the stock market and other public...

Investor: US Debt is a Death Spiral That Cannot be Undone, Buy Crypto

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usd cryptocurrency stablecoin ampleforth fragments

Kim Dotcom, a German-Finnish Internet entrepreneur and a renowned investor in crypto, stated that the US economy will inevitably crash in the years to come. If US markets deteriorate in the long-term, as predicted by recognized economists including Peter Schiff and Nouriel Roubini, Dotcom firmly stated that crypto will appeal to investors as a robust and stable store of value alongside precious...

Tom Lee: Bitcoin to Hit $20k in 2018 Despite Struggle of Emerging Markets

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Fundstrat’s Tom Lee, a Bitcoin permabull known for his optimistic price targets for the dominant cryptocurrency, has said that Bitcoin will likely end the year explosively higher possibly at $20,000. In an interview with CNBC, Lee stated that over the past year, Bitcoin, which has failed to show a correlation with the broader financial market and traditional assets like gold, has demonstrated a...

Arizona Bitcoin Trader Sentenced to 41 Months in Prison for Money Laundering

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Bitcoin

An Arizona man with a particularly lengthy rap sheet that includes guns, ammo and drugs has been sentenced to prison for laundering drug money with bitcoin. Announced on Wednesday by a U.S. Attorney’s Office in Arizona, 54-year-old Thomas Costanzo, aka Morpheous Titania, has seen a sentence of 41 months in prison for charges related to money laundering. The sentence will credit time already...

Cryptocurrency Exchange Coinbase Introduces New Tax Calculator

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Bitcoin tax

Coinbase has added new tax features for its customers. The new features are aimed at simplifying the often complex process of paying tax and come with a reminder that gains made from digital currencies are taxable in the US. Under IRS guidance virtual currencies are treated as property, meaning that investors must pay taxes adjusted to the fair market value of the asset at the time of each...

Bitcoin and Ethereum Price Takes Minor Correction Despite Market Optimism

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On October 17, the vast majority of cryptocurrencies in the market including Bitcoin and Ethereum have recorded slight corrections in price, as the price of Bitcoin fell below $5,600 and Ethereum price dropped to $320. Price Drop of Ethereum, Despite Optimism Surrounding Hard Fork Yesterday, on October 16, Cryptocoinsnews reported that the market has responded relatively well to the Ethereum hard...

Bitcoin Price Hits New All-Time High at $5,220, Astronomical Short-Term Rise

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Bitcoin price

Earlier today, on October 12, the Bitcoin price experienced a sudden surge in price, demonstrating an overnight increase in value of 8 percent, from $4,780 to $5,220. On October 11, Cryptocoinsnews reported that the Bitcoin price had recorded a slight correction from $4,900 to $4,780, after increasing by over $530 in a span of three days. But, the report also noted that the minor correction had...

Bitcoin Price Drops to $4,160, Possible Indicators of Recovery in Short-Term

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Earlier today, on October 5, the cryptocurrency market and the majority of leading cryptocurrencies including bitcoin, Ethereum, and Litecoin endured a major correction, declining by over 4 percent in value. Particularly, the bitcoin price underperformed relative to other cryptocurrencies, dropping from $4,450 to $4,250 within the past three days. On October 4, the bitcoin price sustained...

Why the Mid-Term Trend of Bitcoin Price Relies on Japan and South Korea

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Bitcoin price South Korea Japan

Following the exit of the Chinese cryptocurrency exchange market caused by the Chinese government’s imposition of a nationwide ban on cryptocurrency trading platforms, Japan and South Korea have evolved into major bitcoin exchange markets and industries. Emergence of Japan and South Korea as Major Bitcoin Markets According to various cryptocurrency market data providers including CryptoCompare...

U.S. May Follow Japan to License Bitcoin and Cryptocurrency Exchanges

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congress

The US government may follow the roadmap of Japan in regulating trading activities around cryptocurrencies such as bitcoin and Ethereum. Last week, the Japanese government and its financial regulator the Financial Services Agency (FSA) officially authorized and licensed 11 cryptocurrency exchanges including BitFlyer, the country’s largest trading platform with over 800,000 users. In a statement...

Bitcoin Price Surpasses $4,430, $5,000 in Sight Despite Hard Fork Talks

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Bitcoin price

Over the past week, the bitcoin price has fully recovered from the Chinese government’s nationwide ban on cryptocurrency exchanges. Earlier today, on October 2, the price of bitcoin surpassed $4,430, nearing the interim target of $5,000 by most analysts in the bitcoin sector. Since September 22, bitcoin has demonstrated a rapid rate of recovery, rebounding from $3,500 to $4,430 in a span of less...

Prominent Bitcoin Trader: Price is Heading Towards $100,000 in 2018

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Bitcoin price cryptocurrency

Earlier this week, prominent bitcoin trader and investor Tone Vays provided technical analysis on bitcoin’s short-term trend, major price correction following the nationwide ban on Chinese bitcoin exchanges, bitcoin’s swift recovery, and the long-term future of bitcoin. The analysis of Vays demonstrated the potential of bitcoin price to surpass the $100,000 mark by the end of 2018, which would...

Is Bitcoin a Great Hedge Against Struggling Debt-Based Economies?

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The US is known to the vast majority of the world as the global financial and economic powerhouse. Yet, the US holds the largest amount of external debt at $19.9 trillion. The UK, France and Germany fall behind the US respectively as the second, third and fourth largest debt holders in the world. Since mid-2016, investors and traders in the largest bitcoin exchange markets including US, China and...

US Regulatory Environment Hinders FinTech Growth

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U.S. FinTech investments in 2016 reached $4.27 billion illustrating that the financial technology sector in the country is continuing to grow at a significant pace. However, with this amount of FinTech investment you would naturally assume that the U.S. is one country where the topic of regulation is not an issue, reports Tech Crunch. And yet, that’s not the case. According to a report from...

FinTech Investment in China Doubled in 2016, Declines in Europe, US

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Investment in Chinese FinTech continued at a pace in 2016 despite markets in other countries experiencing a slowdown in the sector. It’s reported that during the first nine months of 2016, FinTech investments doubled in China, which was partly due to funding rounds completed by Ant Financial, JD Finance and China’s Lufax, reports the China Money Network. The report states that in the first three...

FinTech Funding Thrives in Canada Despite U.S. Slowdown

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Bitcoin Gemini Canada

Sector data has found that FinTech funding in Canada reached an all-time high last year in twenty years despite slow funding in the U.S. FinTech market. According to PitchBook, which is used by the U.S.-based National Venture Capital Association, funding in the sector in Canada reached $137.7 million last year compared to $21.8 million five years ago and just $7.3 million in 2000, reports Reuters...