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Bitcoin (BTC) has been stuck in a descending channel almost throughout the year 2018. Last week, the bull run in the market took the price of BTC above $4,000 but it fell below this level once again. The boost in price helped many investors regain their confidence in BTC but there are still those who believe that the worst is yet to come. According to Anthony Pompliano from Morgan Creek Digital, the price of BTC will still fall below $3000 before it finds a bottom. Bitcoin To Fall Below $3000? During an interview with CNBC, Pompliano, who has always been an active member of the cryptocurrency community, said that BTC will not reach bottom until it moves below $3000. In his words: “I believe the price of BTC is still going to fall lower short-term.” FAANG Stocks Tumble During the interview, Pomp was asked if he believed that the price action of BTC has any relationship with the stock of the tech giants of the world – FAANG (Facebook, Apple, Amazon, Netflix and Google). In reply, he ..
The cryptocurrency industry has been having difficulty for a while now. Everyone was expecting BTC to recover from the January market crash it suffered and take the entire market along. Unfortunately, in an unexpected turn of events, BTC fell even more significantly against the USD. Many short-term investors sold out and left the market. However, there are still those who believe in cryptocurrencies. For one, the CEO of Morgan Creek, Mark Yusko, said that he believes that a surge is on the way. Cryptocurrency Market Will Surge Soon According To Mark Yusko While there is no evidence to support a bull rally anytime soon, the cryptocurrency market has strong fundamentals that will cause a rapid surge within the next 10 years. Yusko, the CEO of the well-known investment firm, Morgan Creek Digital, said that there is success waiting for Bitcoin and the entire market in the long run. He made his conviction known during CNBC’s Fast Money. According to him, the Bitcoin network is strong and t..
Ripple has been making a lot of progress in Asia. This is because the Asian space is receptive to the company’s technology. During a conference that took place recently, one of the executives at Ripple, Dan Morgan said that Asia has displayed a lot of interest in its technology and it has the highest demand of XRP. This is good news for the token. If this interest expands to other continents, XRP will be one step closer to achieving global adoption. XRP (XRP) Price Today – XRP / USD Name Price24H (%)$0.354723 -2.06% This year, XRP has fallen significantly against the USD. After reaching its peak in January, it started to lose value significantly against the USD along with the entire cryptocurrency market. However, it is important to note that XRP wasn’t the only cryptocurrency that fell against the USD. Also, the fact that the coin fell in price doesn’t mean it didn’t make any progress throughout the year. For starters, Ripple was able to enter into great partnerships with many bank..
Investment bank J.P. Morgan Chase has named three companies whose stock could benefit from their deployments of blockchain technology. Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial intelligence (AI). As Cointelegraph reported yesterday, some companies have started to drop using the term “blockchain,” as they believe the word is overhyped and too often used as a marketing ploy. However, J.P. Morgan outlined three companies that will purportedly create “material incremental growth opportunities” from the technology. Per J.P. Morgan, those beneficiaries are American content delivery network and cloud service provider Akamai Technologies Inc., San Fra..
Morgan Stanley’s report shows Bitcoin’s appeal to institutional investors as the market evolves. On October 31, multinational investment bank and financial services company, Morgan Stanley, released their latest report on Bitcoin. The report, entitled “Update: Bitcoin, Cryptocurrencies and Blockchain,” stated that Bitcoins and altcoins have constituted a “new institutional investment class” since 2017. In comparison to Morgan Stanley’s 2017 report on Bitcoin, their 2018 outlook is bullish. The report contains an overview of both how Bitcoin has evolved, and how its investment purpose has changed throughout its existence. Morgan Stanley analysts also touched upon the recent stablecoin trend and both central bank and regulator reactions to Bitcoin for the last six months. The report listed several shortcomings that persist for Bitcoin, such as energy consumption and a lack of a robust regulatory framework. Analysts have revealed about the “surprising” change in funding flowing into the ..
Bitcoin and altcoins have been representing a “new institutional investment class” since 2017, despite the ensuing bear market, Morgan Stanley says. Bitcoin and altcoins has been a “new institutional investment class” since 2017, U.S. multinational investment bank and financial services company Morgan Stanley claims in a new report released Oct. 31. The document, titled "Bitcoin Decrypted: A Brief Teach-In and Implications," sees the newly-bullish Morgan Stanley weigh in on the “surprising” developments in cryptocurrency that continue to the present day. According to its latest findings, the “surprises” to come from crypto in 2018 are a “strong” formation of new funds targeting the sector, as well as the “growth” of cryptocurrency-tied futures. Despite the persisting bear market this year and the accompanying price drop, Morgan Stanley continues, Bitcoin and altcoins have constituted a “new institutional investment class” since 2017. Researchers also stayed positive on decentralized t..
Unnamed parties have told Bloomberg that Morgan Stanley will offer Bitcoin products to clients. U.S. banking giant Morgan Stanley is planning to offer clients Bitcoin trade swaps, anonymous sources told Bloomberg Thursday, September 13. Citing “people familiar with the matter,” the publication reveals the U.S. multinational will follow in the footsteps of fellow Wall Street players in pursuing Bitcoin exposure options. According to the sources, Morgan Stanley “will deal in contracts that give investors synthetic exposure to the performance of Bitcoin.” “Investors will be able to go long or short using the so-called price return swaps, and Morgan Stanley will charge a spread for each transaction,” they added. The news marks the latest commitment to Bitcoin interest from Wall Street giant, Goldman Sachs last week refuting claims it had dropped plans for a Bitcoin trading desk. A Morgan Stanley spokesperson declined to comment to Bloomberg about the plans. In addition to the unconfirmed ..