“Software is eating the world,” wrote venture capitalist Marc Andreessen in 2011. And it did, with gusto. Software has revolutionized some industries and undone others. Financial technology (fintech) software has been used by banks to digitalize the customer experience and speed up existing processes—apps have replaced branches and algorithms execute trades. But software is now coming for Wall Street in the same way Facebook’s News Feed came for traditional publishers with the rise of… Source link

Litecoin suffered another rejection at $200, opening the door to the ongoing retreat. An ascending channel failed to make a breakout at the x-axis, allowing bears to increase their position. Support at the 200 SMA on the 4-hour chart could ignore the bearish narrative in favor of a recovery move. Litecoin has made an appreciable move upward this week, adding to last week’s recovery. However, the uptrend lost energy slightly above $200. LTC suffered another rejection at this level,… Source link

IMAGE: getty The combined effect of the pandemic and technology on capital markets is generating all kinds of poltergeists, strange phenomena that are turning out to be a horror movie for some, and for others, an opportunity to explore new territory. Let’s start with the facts: since the beginning of the pandemic, which saw a halt or a sharp reduction of economic activity for a lot of people, many of whom were already in a vulnerable situation, the US… Source link

Peter Schiff. Reuters/ Rick Wilking Bitcoin critic Peter Schiff’s son has moved all of his portfolio investments into the cryptocurrency. Schiff called his son “brainwashed” and said he needs to “disinherit” him, or his money would be wasted. The wealth manager regularly clashes with crypto advocates over his bitcoin predictions. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Spencer Schiff, the son of bitcoin detractor Peter Schiff, has decided to move… Source link

Bitcoin has soared back this week after struggling to maintain its early 2021 momentum through the last week of February and into March. The bitcoin price has added more than 10% in recent days, climbing back above $50,000 and toward its all-time high of $58,000 per bitcoin as the U.S. approved a huge $1.9 trillion coronavirus stimulus package. With the bitcoin price up a blistering near-600% over the last 12 months, investing legend Mark Mobius has warned a sharp bitcoin decline could… Source link

Ethereum Ethereum slid by 4.09% on Wednesday. Reversing a 2.02% gain from Tuesday, Ethereum ended the day at $1,795.37. A mixed start to the day saw Ethereum rise to an early morning intraday high $1,879.00 before hitting reverse. Falling short of the first major resistance level at $1,896, Ethereum fell to an early morning intraday low $1,756.29. The sell-off saw Ethereum fall through the first major support level at $1,824 and the second major support level at $1,776. Finding late morning… Source link

A hybrid Monero cryptominer and ransomware bug has hit 20,000 machines in 60 days. At its previous peak in February, the Monero Miner cryptocurrency ransominer was targeting more than 2,500 users a day, disguised as an antivirus installer. Now, the tricky hybrid malware is on the rise again, this time impersonating an ad blocker and OpenDNS service. In total, it has infected more than… Source link

Bitcoin (BTC) trading around $56,248.28 as of 21:00 UTC (4 p.m. ET). Climbing 3.54% over the previous 24 hours.  Bitcoin’s 24-hour range: $53,101.24-$57,336.75 (CoinDesk 20) BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians. Bitcoin trading on CoinbaseSource: TradingView Bitcoin gained for a sixth straight day, extending its longest winning streak of the year and approaching the record high price reached last month.  The largest… Source link

Bloomberg RBA’s Lowe Pushes Back Against Market, Sending Yields Lower (Bloomberg) — Reserve Bank of Australia chief Philip Lowe pushed back against bond markets pricing in an earlier tightening of monetary policy, sending the currency and yields lower as he reiterated that interest rates are unlikely to rise until at least 2024.“Over the past couple of weeks market pricing has implied an expectation of possible increases in the cash rate as early as late next year and then again in… Source link

U.S. largest bank launches a crypto-related stock basket, raising questions about the true extent of … [+] exposure to bitcoin and other cryptocurrencies. LightRocket via Getty Images JPMorgan JPM is giving clients a way to gain exposure to bitcoin and other cryptocurrencies through a structured note offering tied to a basket of stocks related to the assets. According to the U.S. Securities and Exchange Commission filings, the notes do not… Source link