After a disappointing November jobs report, the stock market dropped on Friday as the market wrapped up a roller-coaster week driven by COVID Omicron variant concerns. The most significant sector hit was the tech sector, with the NASDAQ losing -1.92% to finish the day at 15,085.47. The DOW fell 59.71 points or -0.17% to close at 34,580.08, and the S&P 500 dropped -0.84% to end at 4,538.43.
Despite a 600 point rebound on Thursday, the DOW dropped -0.91% for the week marking four straight weeks of losses. The S&P 500 fell -1.22% for its second straight week of losses, and the NASDAQ capped off the week, losing -2.62%, marking its second straight week of losses. Continue reading "Tech Sell-Off Drags Market Lower"→
The latest Bitcoin update – called Taproot – has hit the streets. And no matter where you look, just about everyone involved with crypto and Bitcoin is abuzz about what this upgrade means for Bitcoin today and down the road.
So, today we’re going to take a behind-the-scenes look at what Taproot really is and what it means to investors. Then, we’ll kick the tires and see if it stacks up to all the hype.
What Is Taproot?
On November 14, the Bitcoin network activated the Taproot upgrade to Bitcoin’s software deployed around the network. The upgrade officially hit the block at block 709,632 and is the first major update since 2017. The upgrade should increase transaction privacy and efficiency. Continue reading "What The New Bitcoin Upgrade Means To You"→
The knowledge of chart structure helps to navigate the market even when the latter surprises traders.
Bitcoin dropped a little bit later than I expected, creating a complex structure. The main coin updated the all-time high as it hit the $69k mark. If we look deep into the structure in the 4-hour chart above, we find that it was a part of a large two-leg consolidation (red down arrows). The new record high was established within a "joint" connecting two legs down. Continue reading "Bitcoin Buy Setup, Apple Is On Alert"→
The stock market stumbled into the week's finish on Friday, with The DOW falling 268.97 points or -0.75%, to end the week at 35,879.09. The S&P 500 dropped -0.14% to 4,717.75, and the NASDAQ advanced +0.40% to close at 16,121.12 on Friday.
On a weekly level, two of the three major indexes finished in the green. The NASDAQ led the way with a weekly gain of +1.2%, and the S&P 500 added +0.32%. The DOW, however, suffered its second straight week of losses losing -1.38%. Continue reading "Stock Market Stumbles To The Finish"→
I don't have to tell you that no matter what economic stat you're interested in, the belle of the ball is inflation. It's the one that everyone loves to talk about. It's the one that politicians and talking heads like to worry you about. And it's the one that is responsible for a ton of real-world economic horror stories.
And right now, it stands a mind-boggling 5.4% annual rate, way above the Federal Reserve's target rate of 2%.
So, as a Bitcoin and blockchain enthusiast, is there something that maybe crypto can do for us as we navigate through increasing inflation?
You bet. And I'm about to tell you why.
Yes, Inflation Is Too High
If you're a fan of moderate inflation, you're probably not feeling great right now. Prices are at levels that haven't been seen in decades.