Bitcoin bounces back to $50,000 – more to come?

Bitcoin

Bitcoin gain

Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound.

Bitcoin hit an all time high of over $64,000 in April 2021 – then but sold off in June and July, dipping below $30,000. But since mid July, bitcoin has been regaining lost ground.

Other cryptocurrencies were also higher. Ether was trading up at around $3,302 Monday

Market news roundup – morning business headlines

U.S. stock futures rise and risky assets climb as attention turns to Jackson Hole Fed gathering – U.S. stock futures rise and risky assets climb as attention turns to Jackson Hole Fed gathering – MarketWatch

Delta variant is making Americans nervous and raising fresh worries about the economy – Delta variant is making Americans nervous and raising fresh worries about the economy – MarketWatch

Virus

PayPal launches its cryptocurrency service in the UK – PayPal crypto service launches in the UK (cnbc.com)

Sainsbury Shares Rise on Speculation of Buyout Interest – Sainsbury (SBRY:LN) Shares Rise on Speculation of Buyout Interest – Bloomberg

Morrisons backs U.S. firm’s improved £7bn takeover offer – Morrisons backs US firm’s improved £7bn takeover offer – BBC News

Nvidia’s takeover of Arm raises serious concerns, says watchdog – Nvidia’s takeover of Arm raises serious concerns, says watchdog – BBC News

Euro zone business activity remains robust in August as jobs boom – Euro zone PMIs August 2021: coronavirus, summer travel (cnbc.com)

Hong Kong’s Hang Seng edges out of bear territory; oil prices surge – Asia stocks: Hang Seng edges out of bear territory; oil prices surge (cnbc.com)

Federal Reserve meet at ‘virtual’ Jackson Hole event on Thursday 26th June

Main news stories affecting the markets are about the worsening and chaotic situation in Afghanistan, the rising delta variant and plans for tapering as the Federal Reserve chair, Jerome Powell addresses the Jackson Hole virtual meeting. Economists expect more information about progress towards reducing the rate of bond purchases.

Market moving events Monday

UK, Germany and EU manufacturing PMI PMI data due Monday.

U.S. manufacturing and services PMI data due Monday. Home sales data also due.

My positions

Shorts on: FTSE 100, Dow, S&P 500 and Nasdaq

More updates on Tuesday

Related posts

Leave a Comment