Tag: Bitcoin (CME:BRTI)

China Retaliates By Slapping Tariffs On U.S.

Posted on by The INO.com Team

Hello traders everywhere. Fear of a trade war between China and the U.S. has returned to the stock market Wednesday, hitting U.S. stocks hard at the open and sending investors into haven assets from gold to Treasuries.

The DOW opened considerably lower and headed down as much as 510 pts before bouncing off the lows in early trading and looks to have settled around the 1% loss territory mid-day. We'll have to keep a close eye on the close today to see if there's any follow through from the harsh open.

Tariffs

China and the United States both announced tariffs on $50 billion of each others' imports. But, while Washington's list covers many obscure industrial items, Beijing's covers 106 essential U.S. imports including soybeans, planes, cars, and chemicals.

The speed with which the trade struggle between the two countries is ratcheting up is blinding. China took less than 11 hours to respond with its measures.

Key Levels To Watch This Week:

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Bitcoin Fell 35% in March

Posted on by Matt Thalman

Matt Thalman - INO.com Contributor - ETFs - Bitcoins Price


During March, the price of Bitcoin fell just about 35%. It started the month at $10,805 and ended just below $7,000. Bitcoin’s decline in March has been massive, but what I find even more interesting is this decline has been somewhat slow and steady. In the past when Bitcoin would crash, 30%, 40%, 50% or even more, it would happen in a matter of days or even hours.

The slow decline is an indication that the Bitcoin craze or Bitcoin Bubble is likely over. When the craze hit a fever pitch following the Thanksgiving Holiday in the US, the price more than doubled in just about 25 days. The Bitcoin rally hit a peak on December 17th, 2017 when they were trading for more than $19,205 per coin. More so than that, the last time Bitcoin traded in the low $6,000 range, was before the Thanksgiving Holiday when it is believed many families sat around the dinner table and discussed the “can’t miss opportunity in cryptocurrencies.” Those discussions helped fuel 100,000 new accounts being opened that weekend and the price of Bitcoin hitting $9,000 for the first time.

The Thanksgiving dinner table conversations helped foster the “fear of missing out” trend that we saw catapult Bitcoin both into the limelight and at breathtaking prices. That fear soon faded as Bitcoin fell hard, from $19,205 to $14,500 in just five days, following it hitting its record and still all-time high. Ever since then the cryptocurrency has been on a downward trajectory.

The declining price has lessened interest from both the general public and big investors, and even now we have seen the media outlets reducing coverage on Bitcoin and other cryptocurrencies. Even Alphabet’s Google searches (Fig.1) are down dramatically since the peak. A further look at the price of Bitcoin (Fig.2) and the Google search trend of Bitcoin may tell another story. The two charts side by side look very, very similar. Continue reading "Bitcoin Fell 35% in March" →

S&P 500 and DOW In Correction Territory

Posted on by The INO.com Team

Hello traders everywhere. Thursday's positive gains failed to follow through on Monday after the Easter weekend with a widespread sell-off taking hold and pushing all three indexes into correction territory.

Tech troubles and tariffs have pushed the S&P 500 through the 200-day moving average which viewed as a critical level of support. Technical traders and chartist alike believe that this breach can foreshadow even more significant declines down the road.

Now let's talk about the word correction. A correction is defined as "a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation".

Correction Territory

With that in mind, all three major indexes have dipped and flirted with correction territory today. At their lows of the day the S&P 500 was down 10.5%, The DOW was down 11.6%, and the NASDAQ was down 10.2% putting all three indexes in correction territory. Only the NASDAQ has been able to rebound, but it's still incredibly close to closing the day in a correction. Continue reading "S&P 500 and DOW In Correction Territory" →

Stocks End Tough Quarter Higher On The Day

Posted on by The INO.com Team

Hello traders everywhere. The stock market is looking to close out a tumultuous first quarter of 2018 with positive daily gains in a holiday-shortened trading week albeit on light trading volume heading into the holiday weekend. The Easter holiday may be a much-needed break for beat-up traders to lick their wounds and start fresh come Monday.

For the first time in in the previous nine quarters, the S&P 500 and DOW are posting quarterly losses breaking an impressive winning streak. While the NASDAQ is posting a positive quarterly gain of 1.5% marking seven straight winning quarters, which is surprising given the recent rout in the tech sector. With the likes of Facebook (FB), Amazon (AMZN), Netflix (NFLX), Alibaba (BABA) and many other tech stocks taking huge losses recently.

Easter Holiday

The U.S. Dollar is closing out the first quarter of 2018 with its fifth straight quarterly loss, a loss of 2.3%. Data on Thursday showed U.S. consumer spending rose marginally for a second consecutive month in February as households boosted savings, the latest indication that the economy lost momentum in the first quarter. Continue reading "Stocks End Tough Quarter Higher On The Day" →

Easing Trade Tensions Move Stocks Higher

Posted on by The INO.com Team

Hello traders everywhere. After all of the tough talk on tariffs and looming trade war, it seems that China and the U.S. both agree that they need to work together. The news came out today that the two countries are in fact negotiating behind closed doors despite the shouting match in the media.

All three indexes are on the rise today after having a disastrous close to last week with the DOW leading the charge erasing Friday's losses and trading 500+ points higher.

Easing Trade Tensions

Facebook Inc. (FB) continues to come under pressure after the Federal Trade Commission said it has an open, non-public investigation into the company's privacy practices. It hit a session low of 149.02 in early trading and remains down 3% on the heavy trading volume.

Bitcoin continues to come under pressure and is trading back below 8,000 and looking to test the low set in early February of 6,801.47. However, bitcoin ETFs have gotten a vote of confidence from the CBOE. In a letter to the SEC, the CBOE said that "As the volumes continue to grow, especially on regulated U.S. markets, the overall spot bitcoin market looks more and more like a traditional commodity market and CBOE continues to believe that the spot market is sufficiently liquid to support a bitcoin ETP."

Key Levels To Watch This Week:

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