Tag: Bitcoin (BITSTAMPUSD)

Is The Bear Market Rally Over?

Posted on by The INO.com Team

The stock market finished the week in the negative as traders braced for tighter monetary policy from the Federal Reserve. The S&P 500 finished the week just below its 200-day MA, which could signal a move lower if it opens below that level on Monday and makes a move lower. In addition, the red weekly Trade Triangle levels are considerably closer heading into next week, which would mean a leg lower would be in the cards if they are triggered.

The DOW rose 137.55 points or +0.40% to close at 34,721.12. The S&P 500 fell -0.27% to 4,488.28, and the NASDAQ collapsed, losing -1.34% to end the week at 13,711.00.

All three major indexes finished in the red for the week, with the NASDAQ leading the way with a loss of -3.85%, its first weekly loss in four weeks. The DOW lost -0.27%, and the S&P 500 wrapped up a disappointing week with a loss of -1.26%. Continue reading "Is The Bear Market Rally Over?" →

BTC Technical Outlook Is Bullish!

Posted on by Wayne Burritt

If you've hung around my articles long enough, you know that when I take a look at what assets to devote my hard-earned cash to, I've found that both technical and fundamental analysis are two great tools. They've served me well over the years.

In fact, earlier this year I did a deep dive into why both technical and fundamental analysis is the dynamic duo of investing. And I didn't pull any punches about the merits of using both these tools. Here's what I said:

Through my experience as a stockbroker, accountant, and financial analyst, I can tell you that the best investors I've run across usually deploy a mixture of fundamental and technical analysis when they go around looking for investments. They want to know what an asset does and how it makes money. But they also want to know what's happening to its price.

Today, I'm going to revisit the first of these tools, technical analysis, and apply two of my favorite tools in that toolbox to Bitcoin (BTC). Why? Because when I fired up my computers and screeners this morning, my technical signals were going off the charts.

So, let's get to it! Continue reading "BTC Technical Outlook Is Bullish!" →

Stocks Have Worst Quarter In 2 Years

Posted on by The INO.com Team

The first quarter of 2022 was the worst first quarter since 2020 in the stock market. The DOW and S&P 500 closed down -4.57% and -4.95%, respectively, and the NASDAQ lost -9.10%. Some of the contributing factors to this rough quester were the start of a rate hiking cycle from the Federal Reserve, high inflation, and Russia's invasion of Ukraine.

The major indexes made a late-session rally to close out the week, with the DOW adding 139.92 points or +0.40% to close at 34,818.27. The S&P 500 rose +0.34% to 4,545.86, while the NASDAQ gained +0.29% to end the day at 14,261.50.

On a weekly level, only the NASDAQ and S&P 500 were able to stretch their weekly win streak to three with a gain of +0.65% and +0.06, while the DOW snapped its weekly winning streak with a loss of -0.12%. Continue reading "Stocks Have Worst Quarter In 2 Years" →

Bitcoin To Hit $100K!

Posted on by Wayne Burritt

I probably don't have to tell you that no matter where you turn these days, everybody and their brother has a new prediction for where the price of Bitcoin (BTC) is headed this year.

In February, I let you in on the nitty-gritty behind investment banking behemoth Goldman Sachs' prediction that Bitcoin was headed to $100K over the next five years. They came up with that number by comparing the market cap of BTC to the market cap of gold. But when we fit our own numbers to their logic and applied a similar calculus, our valuation was even higher. In fact, we came up with a price target of $117K. And even at that, The Bitcoin market was only 1/5 the size of the gold market, still pretty conservative in my book.

Earlier this year, I did a frightening simple analysis of BTC and came up with a price target of $114K. And when I mean simple, I mean simple: I just found the change between the low and high of BTC during 2021. I then applied that change to the opening price of BTC for the year and came up with $114K. We also found that even if the crypto market as a whole, of which BTC is the biggest driver, were to double in 2022, it would still be just 1/10th the size of U.S. stocks. And when you think about it, that calculus is not off the charts by any means.

The Woz Says Bitcoin Will Reach $100K

Now, Apple co-founder Steve Wozniak has thrown his BTC prediction hat into the ring: Continue reading "Bitcoin To Hit $100K!" →

Do Two Weeks Make A Trend?

Posted on by The INO.com Team

For the second straight week, the S&P 500 rose Friday to close out a winning week, its second straight, even as investors weighed interest rate hikes, the conflict in Ukraine, and rising oil prices. But do two positive weeks make a new trend to the upside, or is the market getting close to resistance levels?

The DOW rose 153.3 points or +0.44% to close at 34,861.24. The S&P 500 added +0.51% to close at 4,543.06, and the NASDAQ dipped -0.16% to end the week at 14,169.30.

On a weekly level, all three major indexes notched second consecutive winning weeks. The DOW ticked up +0.31%. The S&P 500 gained +1.79%, and the NASDAQ rallied +1.92% to close out the week. Continue reading "Do Two Weeks Make A Trend?" →