Market Overview - Page 587

The Chinese yuan’s slide is creating challenging headwinds for Beijing’s push to promote its currency globally — a key element in the broader liberalization of the world’s second-largest economy. China wants its currency, also known as the renminbi, to play.

The price of XRP, the world’s third-largest cryptocurrency by market capitalization, fell to a new 2018 low on Wednesday. Data from Bitfinex shows the cryptocurrency dropped to $0.35 – seven cents from the previous yearly low of $0.42 in July..

The worst does not appear to be over for the bitcoin price, as the flagship cryptocurrency on Tuesday slipped below $6,800, a mark that many analysts had pegged as a critical support level for BTC’s short-term prospects Yesterday, CCN reported.

Financial markets rise on positive sentiments about earnings and China’s fiscal stimulus. That pushed down the demand for USD, but more likely it is just a step back before the jump. American indices added yesterday on strong earnings reports, where.

Cryptocurrency enthusiasts have long argued that it’s unfair to characterize bitcoin as a haven for drug dealers and money launderers. Now, they have data from the U.S. Drug Enforcement Agency (DEA) to back up that claim. Speaking in an interview.

China has in recent years outspent the U.S. by $24 billion in the area of next-generation mobile internet technology known as 5G, potentially creating a “tsunami” that will be difficult to catch up with, according to a Deloitte study published.

There’s a new top 10 cryptocurrency. As of press time, the total value of all ether classic (ETC), the cryptocurrency that powers the ethereum classic blockchain, in circulation has topped $2.2 billion, a move that helped it leap from 12th.

Bitcoin evangelists preach that the virtual currency will one day supplant the dollar. UBS says they may have to wait a while since it can’t be considered money or even a viable asset class yet. For Bitcoin to replace U.S..

Goldman Sachs plans to “offer [clients] custody for crypto funds,” insider sources told Bloomberg August 6, as the investment bank says it remains “undecided” on its cryptocurrency plans. As the publication reports, Goldman, which in May first hinted it would.

Despite an already six month cool-off period, for 2018 we see more sideways and downside potential in the bitcoin price due to sluggish retail demand, hesitation from institutions and a current market cap that seems too high relative to the.

But a new pipeline that will carry gas direct from Russia under the Baltic Sea to Germany is doing rather less for friendship, driving a wedge between Germany and its allies and giving Chancellor Angela Merkel a headache. For U.S..

European shares edged lower and U.S. equity futures struggled for direction following a mixed session in Asia as China signaled it won’t flinch in a trade war. The dollar climbed and Treasuries held steady. Banks were among the biggest losers.