In a move that caused double takes on Wall Street trading floors and prompted comments on Twitter about how this must be the top of bitcoin mania, a little known micro-cap stock called Long Island Iced Tea Corp said Thursday it’s now “Long Blockchain Corp,” and its stock leaped more […]
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No, bitcoin isn’t likely to consume all the world’s electricity in 2020
Here are a few things you might not know about bitcoin, the cryptocurrency that has captivated the financial world after skyrocketing about 2,000 percent in a year to more than $19,000 per coin at one point. The computer process that generates each coin is said to be on pace to […]
No, bitcoin isn’t likely to consume all the world’s energy in 2020
Here are a few things you might not know about bitcoin, the cryptocurrency that has captivated the financial world after skyrocketing about 2,000 percent in a year to more than $19,000 per coin. The computer process that generates each coin is said to be on pace to require more energy […]
Apple is Morgan Stanley’s top tech pick for 2018 because iPhone X is a hit in China
Apple’s iPhone X is not only pushing existing customers in China to adopt the new luxury phone, but is even causing people to switch away from different brands, according to Morgan Stanley. The combination of faster iPhone X adoption by Apple users and the increased switching rate is “accelerating” Apple’s […]
Cryptocurrencies still a ‘wild west’ after exchange’s rocky rollout of trading in new coin
While cryptocurrency trading has the trappings of established financial markets, Coinbase’s attempt to open trading in a new digital currency on Tuesday shows the industry is still experiencing growing pains. “It’s the wild west,” said Mike Novogratz, a noted hedge fund manager who is launching a cryptocurrency fund through his […]
The bond market hasn’t behaved this way since the Ford Mustang was new
The quiet moves in the Treasury market this year have a lot in common with conditions in 1965. Both years had unusually low volatility. In 1965, the difference between the closing high and low yields on the benchmark 10-year Treasury was only a half a percentage point. This year, the […]
Apple could ring in the New Year with $1 trillion market cap
Apple has surged 50 percent this year, and one technician thinks the tech giant could reach the $1 trillion market cap mark as soon as January. “On a technical basis, the stock has had times where it has rallied strongly, moved in a sideways channel here for two months and […]
Bitcoin cash skyrockets 80%, breaks above $4,000
Bitcoin cash skyrocketed 80 percent to break above $4,000 on Wednesday after the leading cryptocurrency exchange said it would begin trading in the bitcoin offshoot. Bitcoin cash traded at $4,329.52 on Coinbase as of 12:12 p.m. ET time. Coinbase said traders would be able to buy and sell the digital […]
Bitcoin cash falls below $4,000 after leading exchange restarts trading
Bitcoin cash fell from its session highs on Wednesday, trading back below $4,000, after Coinbase-owned GDAX restarted trading in the bitcoin offshoot. The digital currency traded at $3,947.98 as of 2:14 p.m. ET. Coinbase had originally halted bitcoin cash trading as it waited for “sufficient liquidity” to reach the cryptocurrency. […]
Big investment bank now sees slight gains for stocks, without much help from tax plan
Citigroup strategists now see the S&P 500 ending 2018 a modest 4 percent above current levels without much more help from tax cuts. Tobias Levkovich, Citigroup’s chief U.S. equity strategist, had previously based his forecast on a corporate tax rate cut to 25 percent, but he has updated it because […]