On Friday, news of a new “Covid” variant broke, and stocks marked “Black Friday” by plunging firmly through the 20-dma and support at recent lows. Last week, we asked if there would be a market correction before “Santa visits Broad and Wall?”. “Investors’ ‘wish lists’ are hung by the chimney...
In previous bull market cycles, there has been a measurable correction before a rally at the end of the year — and if history rhymes, it could be on the cards again. We’ve certainly experienced the correction: Bitcoin (BTC) hit an all-time high of around $69,000 on Nov. 10 and has since retreated around 17% to current levels.
Bitcoin (BTC) is currently at a market correction phase. Price of BTC dropped down by 17% since its ATH . BTC expected to surpass this market correction, hitting $80K around Christmas. What else to say! The crypto industry won’t always be a bed of roses or a sliding cakewalk and...
U.S. sports betting stocks have struggled for most of 2021. DraftKings (Nasdaq: DKNG), Penn National Gaming (Nasdaq: PENN) and PointsBet Holdings (OTC: PBTHF) are all down more than 50% from their all-time highs (-52%, -62% and -62.5%, respectively). But Jed Kelly (executive director for equity research, Oppenheimer & Co.) does not believe the market correction is indicative of an investor pool that has soured on the sports betting opportunity. Instead, he points to several short-term headwinds contributing to the snapback in valuations. “One, you’ve had New York [collecting a 51% tax rate],” he said. “Two, you’ve seen a lot of...
The consumer price index surged 6.2% last month, marking its biggest gain in 30 years. Market bull Jeremy Siegel has warned that a market correction may be imminent if another hot inflation report comes in. Moreover, the concerns over the global economic recovery due to the emergence of the omicron coronavirus variant could keep the market under pressure.
Wall Street is not rocket science—it’s just a big bazaar where people haggle over trinkets. In a bazaar, the seller and the buyer haggle over the price of say, a carpet. The seller wants to get more for the carpet, and the buyer wants to pay less. The price is fluid for as long as they haggle, but at one point, they may find a price they agree on, and the goods will then change hands. Whoever haggled better than the other is likely to have walked away with greater value.
To say that the Omicron variant is shaking the market would be an understatement. But add on that stocks are more expensive than they’ve ever been—and a true correction now wouldn’t surprise anybody. The S&P 500 has fallen almost 3% from its all-time high hit in late November, just before...
Glass node detailed report shows that Bitcoin’s November correction is unlikely to continue. This current market correction is actually the least severe in 2021. The deepest pullback this year came in May-July when bitcoin fell -54% from its high. In September, the decline reached -37.2%. BTC Corrections in January, February, and April reached -29.4%, -24.2%, and -26.5% respectively . The current correction in November barely exceeded 20%.
The day after Thanksgiving tends to be a great day for stocks, and this time of the year is usually a great time to be fully invested. After all, stocks are cheap, trading at 21 times its NTM earnings estimates, the highest levels since the late 1990s. They are even more reasonable when considering its PEG ratio is around 1 when considering that long-term forecast growth rate for earnings.
The cryptocurrency market turned green on Monday, with most assets surging to shrug off last week’s widescale correction that spilled over to the weekend. The market corrected courtesy of various factors, including the World Health Organization’s official warning about Omicron, the new strain of Covid-19, along with regulatory concerns in India. The recovery has been boosted by the news that the new variant presents mild symptoms.
The performance of cryptocurrencies over the past 7 days may have seemed slightly less than exciting, especially as the total market cap rose “only” 1.8% to $ 2.7 trillion. However, even with the price action muted, some altcoins managed a decent rally. Bitcoin (BTC), on the other hand, was down 6% through November 28, but still managed to end the week up 1.5% after a rally of $ 3,200 on Sunday night.
The last severe market correction occurred in February and March 2020. Markets plunged, as the severity of the COVID-19 pandemic became apparent. Since then, North American markets have thrived in the face of historically low interest rates, radical social spending, and continued quantitative easing. Canada has already dramatically scaled back on the latter two developments. The Bank of Canada (BoC) is now telegraphing rate hikes in 2022. Investors worried about a potential market correction should look to snatch up defensive stocks in the final month of the year. Let’s jump in.
The ongoing cryptocurrency market correction has reentered the zone of “extreme fear.” BTC was at its lowest since 7 September, when it crashed by over $10K in 24 hours. In fact, 26 November was particularly tumultuous for the entire market, with the bears clearly having the upper hand. That said,...
Top Stories This Week: Powell Gets Fed Nomination, Using Gold in a Market Correction - Investing News Network
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Bitcoin has recorded multiple dips in recent weeks that have pushed its price below $60,000. The slump came as a result of sell-offs from investors who believe that the asset has reached its peak. Panic had spread like wildfire, triggering even more sell-offs but not everyone gave in. Whales have...