WHAT DOES THE FUTURE HOLD FOR FACEBOOK?
According to The Verge, Facebook is planning to rebrand and change its name to better match the company's ambition to create a metaverse.
Facebook’s CEO Mark Zuckerberg is expected to announce the new name at the annual Connect conference on October 28, but The Verge believes it could happen sooner. October 25, when the company is expected to release its Q3 2021 earnings, seems appropriate.
Facebook is looking to expand its reach beyond social media.
Currently, the company employs more than 10,000 people who are creating consumer equipment such as AR glasses. This Sunday, it revealed its plans to create 10,000 more jobs in Europe over the next five years to accelerate the creation of the metaverse, which the company sees as a key to its future.
Zuckerberg believes VR glasses will become as ubiquitous as smartphones, seeing Facebook as a virtual metaverse where users will communicate, work, and play.
The rebranding comes at a time when Facebook is being criticized over the worldwide outage, as well as the scandal involving Facebook whistleblower, ex-product manager Frances Haugen who testified before the Senate Committee on Trade, Science and Transportation. Facebook remains under the control of US antitrust laws.
The Chart reflects signs of recovery.
When the FB price tried to leave the 325-336 range on Oct 12, we saw (1) a candlestick with a long lower wick on high volume: this suggests that investors consider the price around 320 too attractive. They could bring a large profit against the background of the upcoming news from Facebook.
https://i.imgur.com/NDJ81p2.png
According to The Verge, Facebook is planning to rebrand and change its name to better match the company's ambition to create a metaverse.
Facebook’s CEO Mark Zuckerberg is expected to announce the new name at the annual Connect conference on October 28, but The Verge believes it could happen sooner. October 25, when the company is expected to release its Q3 2021 earnings, seems appropriate.
Facebook is looking to expand its reach beyond social media.
Currently, the company employs more than 10,000 people who are creating consumer equipment such as AR glasses. This Sunday, it revealed its plans to create 10,000 more jobs in Europe over the next five years to accelerate the creation of the metaverse, which the company sees as a key to its future.
Zuckerberg believes VR glasses will become as ubiquitous as smartphones, seeing Facebook as a virtual metaverse where users will communicate, work, and play.
The rebranding comes at a time when Facebook is being criticized over the worldwide outage, as well as the scandal involving Facebook whistleblower, ex-product manager Frances Haugen who testified before the Senate Committee on Trade, Science and Transportation. Facebook remains under the control of US antitrust laws.
The Chart reflects signs of recovery.
When the FB price tried to leave the 325-336 range on Oct 12, we saw (1) a candlestick with a long lower wick on high volume: this suggests that investors consider the price around 320 too attractive. They could bring a large profit against the background of the upcoming news from Facebook.
https://i.imgur.com/NDJ81p2.png
ETH burns $60 million daily to keep inflation in check.
Eric Adams, the incoming mayor of New York, is a member of the Democratic Party and a former police officer. He has already made headlines by announcing his intention to receive his first paychecks in bitcoin — unsurprisingly, as one of the largest stock exchanges, NYSE and NASDAQ, are New York-based. Is Adams responding to the decreasing purchasing power of the US dollar due to rising inflation?
Reuters polled 500 prominent economists on what poses the greatest risk to the global economy in 2022. With inflation being the most obvious answer, the economists also mentioned:
→ new supply chain disruptions
→ new outbreaks of COVID-19
→ the cuts in economic stimulation. About half of the central banks of the 25 major countries are expected to raise interest rates in 2022 (New Zealand, Russia, and Brazil have already done so).
And if inflation is a risk to the real economy, cryptos have an edge. The total emission of bitcoin is strictly limited to 21 million coins (more than 18 million have already been mined). The Ethereum network allows unlimited issuance of ETH tokens, but at the same time takes care of deflationary processes.
For the first time, the Ethereum network has recorded a consistent decrease in supply for 7 consecutive days, according to blockchain analytics agencies. This means that more Ethereum was burned during the specified period than created through mining.
The mechanisms for controlling inflation in the Ethereum network were laid down by the London hard fork. More than $3 billion worth of ETH has been burned since its implementation on August 5, 2021. Ultrasound Money data shows that 15,000 ETH is being burned daily, which, according to current prices, amounts to around $60 million.
The chart shows that ETHUSD is showing a more stable upward trend compared to BTCUSD (1). If the decline in the price of ETHUSD on October 27 on growing volumes was a bearish effort (2), then it suffered a crushing failure the very next day (3), which indicates the strength of ETH.
Eric Adams, the incoming mayor of New York, is a member of the Democratic Party and a former police officer. He has already made headlines by announcing his intention to receive his first paychecks in bitcoin — unsurprisingly, as one of the largest stock exchanges, NYSE and NASDAQ, are New York-based. Is Adams responding to the decreasing purchasing power of the US dollar due to rising inflation?
Reuters polled 500 prominent economists on what poses the greatest risk to the global economy in 2022. With inflation being the most obvious answer, the economists also mentioned:
→ new supply chain disruptions
→ new outbreaks of COVID-19
→ the cuts in economic stimulation. About half of the central banks of the 25 major countries are expected to raise interest rates in 2022 (New Zealand, Russia, and Brazil have already done so).
And if inflation is a risk to the real economy, cryptos have an edge. The total emission of bitcoin is strictly limited to 21 million coins (more than 18 million have already been mined). The Ethereum network allows unlimited issuance of ETH tokens, but at the same time takes care of deflationary processes.
For the first time, the Ethereum network has recorded a consistent decrease in supply for 7 consecutive days, according to blockchain analytics agencies. This means that more Ethereum was burned during the specified period than created through mining.
The mechanisms for controlling inflation in the Ethereum network were laid down by the London hard fork. More than $3 billion worth of ETH has been burned since its implementation on August 5, 2021. Ultrasound Money data shows that 15,000 ETH is being burned daily, which, according to current prices, amounts to around $60 million.
The chart shows that ETHUSD is showing a more stable upward trend compared to BTCUSD (1). If the decline in the price of ETHUSD on October 27 on growing volumes was a bearish effort (2), then it suffered a crushing failure the very next day (3), which indicates the strength of ETH.
Forwarded from 8.Finance
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Jason Goldberg, a banking analyst at Barclays, said JPM is well-positioned for the long term and trading at a discounted price. Barclays has set a target price for the stock at $200 (up from last week's close of $126.81).
However, the chart suggests that the price may drop even further. It’s all in the candlesticks with small volumes (2 and 3), after which there was a price decrease paired with growing volumes. This is a sign of weak demand and the dominance of market sellers. Presumably, the downtrend has not yet exhausted itself. If it develops, the price may drop to the lower limit of the current channel (about $100 per share).
Download free instructions on how you can interpret information from a chart using the simple law of supply and demand.
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However, the chart suggests that the price may drop even further. It’s all in the candlesticks with small volumes (2 and 3), after which there was a price decrease paired with growing volumes. This is a sign of weak demand and the dominance of market sellers. Presumably, the downtrend has not yet exhausted itself. If it develops, the price may drop to the lower limit of the current channel (about $100 per share).
Download free instructions on how you can interpret information from a chart using the simple law of supply and demand.
Chartreading.pro
Twitter accepted the planet’s richest man's proposal. The $44 billion deal was closed on Monday, as per a Reuters report.
How will all of this affect cryptocurrencies?
Musk is a known supporter of cryptocurrencies, most notably the meme crypto DOGE. Enthusiasts expect Musk to integrate Doge into Twitter, and in general, for Twitter to further the adoption of cryptocurrencies.
Amid the news of the Twitter buyout, DOGE soared 20% on Monday but has already pulled back significantly since the takeoff. Similar movements swept throughout the market. On Monday, BTCUSD rose briskly, but the actions of Tuesday (see arrow) completely leveled the progress from the news.
If bullish news reports do appear, and the market is not able to respond with an increase in prices, this is a bearish sign.
Learn how to interpret charts to make informative trades. Download free tutorials at chartreading.pro
How will all of this affect cryptocurrencies?
Musk is a known supporter of cryptocurrencies, most notably the meme crypto DOGE. Enthusiasts expect Musk to integrate Doge into Twitter, and in general, for Twitter to further the adoption of cryptocurrencies.
Amid the news of the Twitter buyout, DOGE soared 20% on Monday but has already pulled back significantly since the takeoff. Similar movements swept throughout the market. On Monday, BTCUSD rose briskly, but the actions of Tuesday (see arrow) completely leveled the progress from the news.
If bullish news reports do appear, and the market is not able to respond with an increase in prices, this is a bearish sign.
Learn how to interpret charts to make informative trades. Download free tutorials at chartreading.pro
The Nasdaq lost 4% on Tuesday, the S&P 500 lost 2.8%, and the Dow Jones Industrial Average lost 2.4%.
The reason? The increase in the number of Covid-19 cases in China has increased the possibility of lockdowns, which could restrict US companies from supplying goods and services, driving up costs and forcing them to raise selling prices.
Consequently, inflation could rise even further, although it already is at its highest level since the 1980s.
The weekly chart allows to build a parallel upward channel line where the current stock market can change.
The reason? The increase in the number of Covid-19 cases in China has increased the possibility of lockdowns, which could restrict US companies from supplying goods and services, driving up costs and forcing them to raise selling prices.
Consequently, inflation could rise even further, although it already is at its highest level since the 1980s.
The weekly chart allows to build a parallel upward channel line where the current stock market can change.
The tightening of the FED's monetary policy and the weakening currencies of other countries contributed to the fact that the futures on the dollar index almost reached the level of $104 per contract. In the not-so-distant past, this level served as resistance, from which the price turned down: in the spring of 2020 (in the wake of the spread of the coronavirus), as well as in early 2017.
Most likely, this level will serve as a barrier (probably insurmountable) for the dollar index in 2022 as well. A candlestick on the weekly chart could signify the climax of an uptrend that has been in place since 2021. Under these conditions, one should be prepared for a slowdown in the growth of the dollar.
Most likely, this level will serve as a barrier (probably insurmountable) for the dollar index in 2022 as well. A candlestick on the weekly chart could signify the climax of an uptrend that has been in place since 2021. Under these conditions, one should be prepared for a slowdown in the growth of the dollar.
Michael Saylor, an MIT alumnus and co-founder and CEO of MicroStrategy, has been a hero to crypto enthusiasts ever since his company began hoarding bitcoin in August 2020. To date, the total holdings have reached 129,218 bitcoins purchased for $3.97 billion, or $30,700 per coin.
MicroStrategy CFO Phong Le explained that if BTCUSD falls below $21,000 (or about 50% of current levels), the company will be forced to seek funds to secure its loan from Silvergate Bank, which was primarily used to buy bitcoins.
So far, on the way to the level of 21k (1), critical for MicroStrategy, there is an important support of 30k (2), which served as the basis for the growth of BTCUSD in the spring-summer of 2021. But in a negative scenario, MicroStrategy may be forced to sell its bitcoins. And then the market may face an influx of thousands of bitcoins put up for sale, which in turn will most likely provoke a panic decline in BTCUSD below the 20k level.
MicroStrategy CFO Phong Le explained that if BTCUSD falls below $21,000 (or about 50% of current levels), the company will be forced to seek funds to secure its loan from Silvergate Bank, which was primarily used to buy bitcoins.
So far, on the way to the level of 21k (1), critical for MicroStrategy, there is an important support of 30k (2), which served as the basis for the growth of BTCUSD in the spring-summer of 2021. But in a negative scenario, MicroStrategy may be forced to sell its bitcoins. And then the market may face an influx of thousands of bitcoins put up for sale, which in turn will most likely provoke a panic decline in BTCUSD below the 20k level.
Forwarded from Oleg Alexandrov
In 2021, the 30k level served as the basis for a rally to a record peak, but now rising volumes on bearish bars do not give hope for an optimistic scenario.
Forwarded from 8.Finance
8.Finance analyst — Oleg, thoughts about BITCOIN 🤓
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Knife catching is a dangerous trading, as long as you don't have enough reason to open a position.
8.Finance analyst — Oleg, thoughts about Ethereum
«On the daily chart of Ethereum, the price is near the parallel channel line (1) and the psychological level of 1k (2). We have the right to expect support in this zone.
The intraday chart gives confirmations. Pay attention to the consolidation range (3). The bearish breakout (4) failed as price returned to the range (5). This suggests that demand is returning to the market.»
Do you agree?
8.Finance analyst — Oleg, thoughts about Ethereum
«On the daily chart of Ethereum, the price is near the parallel channel line (1) and the psychological level of 1k (2). We have the right to expect support in this zone.
The intraday chart gives confirmations. Pay attention to the consolidation range (3). The bearish breakout (4) failed as price returned to the range (5). This suggests that demand is returning to the market.»
Do you agree?