Bitcoin’s market value should fall by more than a third before year-end, Swiss researchers say
The growth of new active bitcoin users is slowing, which by “Metcalfe’s law” indicates that the cryptocurrency’s market capitalization will not grow as quickly as it has, some Swiss researchers said. Metcalfe’s law says the value of a network is...
Bitcoin climbs back above $7,000 even as stocks fall
Bitcoin prices rallied above $7,000 on Monday after shedding 25 percent last week, as major U.S. stock markets fell. The digital currency gained more than $500 from Easter Sunday, according to data from CoinDesk. Bitcoin traded at $7,004 as of...
Dollar Attempts to Extend Rebound on ISM Price Paid, But Failing So Far
Some volatility is finally see in early US session even though there is still a lack of follow through momentum. US equities open lower with DOW losing over 150 pts, back below 24000 handle at the time of writing. Dollar...
Fitbit shares plunge 9% after Morgan Stanley downgrades: ‘Hard to see a floor’
Fitbit fell sharply Monday after Morgan Stanley downgraded the stock, warning clients that it’s “hard to see a floor” for the price of company shares despite new technology. “We see more downside to the stock as revenues struggle to stabilize...
Biotech stock Alkermes plunges 20% after FDA refuses to review its depression treatment
Shares of biotech company Alkermes dropped Monday after announcing the U.S. Food and Drug Administration refused to review the firm’s drug for treating depression. The stock tumbled 21.96 percent to $45.23 a share, its worst day since Jan. 21, 2016....
Forex Markets Stay Quiet on Holiday Mood. RBA, ISM and NFP ahead
The forex markets are rather quiet today as most countries are still on holiday. Yen is trading generally lower but loss is limited so far. Japan Tankan survey posted some disappointing data but was shrugged off. Australian Dollar is also...