Tag Archives: Bitcoin

Bloomberg Merkel’s Twilight Months Cloud German Crisis Rebound: Eco Week (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.The Germany economy is enduring a moment of flux as it tries to shake off the coronavirus crisis, just as the era of Chancellor Angela Merkel draws to a close.In just four months on Wednesday, voters will choose a new government in an election that augurs a turning point as she leaves a political void after 13… Source link

Bloomberg Tencent Joins Alibaba in Spending Spree as Competition Grows (Bloomberg) — Tencent Holdings Ltd. pledged to sharply increase investments this year after posting a 25% gain in quarterly revenue, joining its biggest rivals in a spending binge that will jack up competition in China’s post-pandemic internet arena.China’s largest tech corporations are vying to entice users in the fast-growing arenas of online commerce and video. Tencent plans to plow a larger portion of its… Source link

Bitcoin and its fellow cryptocurrencies have been hogging the headlines again following Wednesday’s deep plunge. Seasoned crypto investors are accustomed to such swoons, which are usually mirrored in the performance of Bitcoin-related stocks, such as miner Riot Blockchain (RIOT). And just as Bitcoin surged in the year’s first quarter, so did Riot’s revenue streams. The company reported Q1 results earlier this week, with revenue reaching $23.2 million, a 342.1% uptick from the $5.2… Source link

Watch: Bitcoin falls again as China reiterates crackdown Bitcoin (BTC-USD), ethereum (ETH-USD) and other cryptocurrencies crashed on Friday after China announced a harsh clamp down on the market.  The top crypto, bitcoin, plummeted over 11% to $37,429 (£26,428), while etherreum — the world’s second largest crypto — plunged 13% to $2,552.  Dogecoin (DOGE-USD) fell as much as 15% to $0.34 during the session. Chart: Yahoo Finance The crash was triggered by Chinese vice-premier Liu Hu saying… Source link

Bloomberg Inflation Bets Mount on Fear That Brazil Won’t Hike Rates Enough (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Brazil’s inflation expectations are going the wrong way as investors fear the central bank won’t be bold enough to rein prices in.Traders are piling into inflation-linked bonds, seeking protection from an expected acceleration in prices, as officials stick to their guidance that they will pause the… Source link

Bitcoin’s (BTC-USD) price plunged 28% this week, this most recent meltdown spurred by an announcement from China and an Elon Musk tweet. The controversial crypto is now losing even more love on Wall Street a day after UBS’s CIO Mark Haefele questioned the need to own bitcoin in a portfolio. In a note published Thursday, Deutsche Bank analysts joined the conversation with a research note entitled “Bitcoin: Trendy is the last stage before tacky,” quoting the late fashion icon Karl… Source link

After Wednesday’s cryptocurrency collapse erased more than $500 billion in global market cap, bitcoin finds itself teetering on a very key technical level. Regardless of whether or not it was all sparked by Elon Musk tweets, or a rotation by institutional players out of bitcoin (BTC-USD) into altcoins or gold, the world’s largest crypto by market cap dipped below its 200-day moving average on Wednesday. According to historical bitcoin data from Fundstrat Global Advisors, bitcoin trading above… Source link

Bloomberg King of LNG Undercuts Rivals to Keep Dominating World Market (Bloomberg) — The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out of the market.Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new plants elsewhere. It’s also established a trading team to compete in the nascent spot market and… Source link

Bitcoin’s (BTC-USD) price continued its free fall on Wednesday morning, down 15% to about $37,000 per coin by noon EDT. The cryptocurrency has dropped nearly 40% since Tesla (TSLA) CEO Elon Musk first bashed the fossil fuel emissions from bitcoin’s mining process a week ago. “I believe what he said will be a changing point for the way bitcoin is perceived. He is casting a spotlight on energy use for … bitcoin, which is relevant. And it is making companies such as ourselves more… Source link

Bloomberg Intesa, UniCredit Head for Reckoning as Loan Holidays End (Bloomberg) — Banks in Europe’s vulnerable south are about to find out the true scale of the damage to their loan books from the pandemic’s economic turmoil.Hundreds of thousands of companies and households in nations including Italy and Portugal are resuming loan interest payments that were frozen when lock-downs threatened their livelihoods. Many borrowers from hard-hit sectors like tourism are consequently at greater… Source link