Tag: Bitcoin (BITSTAMPUSD)

Crude Oil Has Worst Week Since October

Posted on by The INO.com Team

Crude oil posted its worst weekly loss in nine months as the US dollar gained +0.77% for the week and +0.61% in Friday trading, dashing any attempt by crude prices to rebound on tensions in the Middle East and a week of negative news on Covid here in the US as the Delta variant takes hold.

U.S. West Texas Intermediate crude oil (WTI), the benchmark for US oil, settled Friday's trade down -.81 cents, or -1.2%, at $68.28 per barrel. For the week, WTI lost -7.7%, its most since the -10% drop during the week to Oct. 23, 2020.

The DOW rose 144.26 points or +0.41% and closed at an all-time high of 35,208.51. The S&P 500 rose +0.17% to clinch its own record close at 4,436.52, while the NASDAQ dipped -0.40% to settle at 14,835.76. Continue reading "Crude Oil Has Worst Week Since October" →

Bitcoin Update: Reversal Or "Dead Cat Bounce"?

Posted on by Aibek Burabayev

Bitcoin was in the “To Be Or Not To Be” situation last month as the giant Head & Shoulders pattern emerged to target the utter annihilation of Bitcoin.

This strong support that most of you have shown in the last poll for the main coin kept it from the collapse into the abyss. Let me show you on the chart below what has happened with the terrifying pattern since then.

Bitcoin Head And Shoulders Chart

The model looked just perfect as the price reached the final trigger of the Neckline after building the anticipated Right Shoulder to accumulate enough power for the breakdown. However, the first attempt in late June has failed. The next attempt at the end of July was not as powerful as the angle of attack was not sharp enough, and momentum quickly evaporated after a false breakdown. Continue reading "Bitcoin Update: Reversal Or "Dead Cat Bounce"?" →

What You Don't Know About Altcoins

Posted on by Wayne Burritt

What are Altcoins?

First off, the term altcoin is a portmanteau of two words, “alternative” and “coins.”

But don’t let that throw you: Alternative is the keyword here.

Alternative to what? Well, you guessed it: Bitcoin.

That’s right: Altcoins are all cryptocurrencies, except Bitcoin.

But that answer just gets us started.

So, let’s get to it! Continue reading "What You Don't Know About Altcoins" →

3 Week Winning Streak Comes To An End

Posted on by The INO.com Team

The stock market fell on Friday, pushing the DOW, S&P 500, and NASDAQ into the red for the week, ending a three-week winning streak. Inflation fears overshadowed strong retail sales numbers and better-than-expected earnings reports as earnings season kicked off.

On the day the DOW lost 299.17 points or -0.86%, to close at 34,687.85. The S&P 500 dipped -0.75% to 4,327.16, and the NASDAQ lost -0.80% to 14,427.24.

On a weekly level, the DOW ended the week down -0.52%, while the S&P 500 dipped -0.97%, and the NASDAQ fell -1.87% for the week. Continue reading "3 Week Winning Streak Comes To An End" →

DOW Bounces Back To Set Record Close

Posted on by The INO.com Team

The DOW rose 448.23 points or +1.30%, to a record close of 34,870.16 on Friday, a day after losing 259.86 points. The S&P 500 gained +1.13%, closing at an all-time high of 4,369.55, and the NASDAQ rose +0.98% to close at a record of 14,701.92.

Friday's comeback brought all three major averages into green territory for the week, with the DOW gaining +0.25% for the week. In addition, the S&P 500 and NASDAQ both gained +0.40% and +0.43% since the beginning of the week, respectively. Continue reading "DOW Bounces Back To Set Record Close" →