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


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 –…

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Markets move down!

Stocks fall

Pressure appears to be building as the stock market bull run falters. Major indices have given up gains and moved away from lofty highs. The DOW, S&P 500 and Nasdaq all closed down – each losing around 1% on Wednesday, 18th August 2021. The FTSE 100 and DAX, Nikkei and Hang-Seng all lost ground too. U.S. markets down U.S. markets % change Value Change Dow Jones – closed at -1.08% 34960 -383 Nasdaq – closed at -0.89% 14526 -130 S&P 50 – closed at -1.07% 4400 -48 U.S. Markets closed…

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Bitcoin mining became more profitable as system algorithm adjusts after crackdown in China

Tech stocks

Hashrate drops More than 54% of bitcoin’s hashrate, which is the collective computing power of miners worldwide, has dropped off the network since its peak in May. The Bitcoin code has re-calibrated to make it approximately 28% less difficult to mine. Miners who are still plugged into the network stand to make greater profits while most of the network’s miners move offline. It just became substantially easier and much more profitable to mine for Bitcoin. Bitcoin mining puzzles A bitcoin miner runs a program on a computer to try to…

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Record highs for Nasdaq and S&P 500


The only way is… up? The Nasdaq reached a record high on Monday 14th June 2021 as investors were tempted back into growth stocks ahead of a Federal Reserve two day meeting due to start on Tuesday 15th June 2021 Nasdaq The Nasdaq tech loaded index climbed 0.7% to an all time closing high of: 14174 clearing the previous record on 26th April 2021. S&P 500 The S&P 500 gained around 0.2% to make another record close at: 4255 boosted by technology sector gains. The Dow Jones Industrial Average slipped…

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Bitcoin value climbs above $1 trillion as price jumps again


Bitcoin’s value briefly surpassed $1 trillion again on Tuesday 9th March 2021, as the price of the cryptocurrency jumped The digital coin’s price rose on Tuesday and its market capitalization went above $1 trillion in overnight trade. It is only the second time that Bitcoin has surpassed $1 trillion after hitting that milestone for the first time on 19th February 2021. Bitcoin hit a 24 hour high of $54,348 – around 7% higher, but has since pared some of those gains. Bitcoin rally Even though bitcoin is off its all…

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Tesla chases every nickel, loses share value

Electric car

Tesla share value plummets as tech shares take a hit Since Tesla’s share peak in January 2021, the company has seen its share price plummet by some 33% – and that’s even after buying £1.5 billion Bitcoin to add to the balance sheet. Maybe this is partly why? Irony? There’s an irony here – of sorts. It is a well known fact that Bitcoin mining uses a disproportionate amount of energy to create the digital cryptocurrency, and this energy may even, and most likely is, produced using unclean and environmentally…

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Bulls and bears fight it out, yields, memes, a new ‘Buzzy’ ETF and Buffet

U.S. Bull Market

U.S. stocks closed down on Tuesday 2nd March 2021, as the fight between bulls and bears continued after Monday’s hike S&P 500 range bound? The S&P 500 is trapped in a range between 3,800 and 3,900 – a close above or below these levels will be important for the future direction of the market. Futures trade higher. UK stocks UK tocks moved higher in early trade Wednesday 3rd March 2021, with the FTSE 100 closing in on 6700 – will it stabilise and gain from here? EU stocks European stocks also…

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A Chinese cryptocurrency mining set-up is reportedly closing down its operations

Digital Money

Bitcoin ‘mining’ production is energy inefficient In a bid to cut down on vast energy consuming operations, China is reported to have made plans to ban new cryptocurrency mining projects and shut down existing activity. It is estimated that one such bitcoin mining operation consumes some 128 terrawatt hours of energy, per year. That’s more than an entire country might use with a population of about 45 million people, such Argentina. It is also estimated that this single Bitcoin mining site, based in Mongolia, represents 8% of all global bitcoin…

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Is this the ultimate market influencer?


When does a social media comment influence the market? Probably when Elon Musk, the CEO of Tesla posts a tweet So…what happened? Tesla buys Bitcoin with a reported $1.5 billion investment adding it to the company balance sheet. Elon Musk posts a tweet and Bitcoin surges even higher from its already lofty elevation. It holds for a day or two then falls back dramatically following another tweet from Musk only this time the tweet suggesting the Bitcoin value is too high! Bitcoin then basically crashes from an all time high…

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Bitcoin bashed as it slips more than 20% in a week

Digital currency

Bitcoin bashed Bitcoin suffered last week falling more than 20% over a seven day stretch, touching a daily low of around $7735 on Friday – lowest level since June. Bitcoin closed Friday 27th at around $8060. Other digital currencies; ether and XRP, were also down on the week. Why the Bitcoin drop? I’m unsure but analysts apparently suggest the selling pressure was based on a lacklustre debut of a new bitcoin product, and of technical levels being broken. Bitcoin is known known for its volatility and had been relatively stable since August 2019,…

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