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Find the best trading platform. You capital is at risk when trading. Be careful.This week we can report on major quarterly reports that have been published or that are about to be published and so far it’s not looking too good for the involved companies. We also have a few articles about how the cryptocurrency market is about to receive a major boost from institutional money and how more and more “serious” traders are turning to the crypto world. Also, the world’s largest exchanges are competing for who will be crowned the king of tech IPOs.
Goldman Sachs has made its first major cryptocurrency hiring, and according to a survey done by Reuters, they won’t be alone for long. Out of the 400 financial institutions that Reuters surveyed, 20% said they’re looking to invest in cryptocurrencies within the coming year. Out of those 20%, 70% said they will invest within the coming 3-6 months. This is obviously huge news for the cryptocurrency market.
Google released their first quarterly report of 2018, and even though the report was positive, the Google stock has struggled. Immediately after the report was published, the stock surged by 3% but it dropped back within the hour. Today, the Google stock is trading under pre-report value.
Nasdaq and the NYSE are competing over who will rule the world of tech stocks. So far, Nasdaq has been in charge of most major tech IPOs such as Facebook and Google. However, after Spotify was listed on the NYSE earlier this year, it looks like things could change. Now the world’s two biggest exchanges are competing for who will get the Airbnb and Uber IPOs that we can expect to see later this year.
Nasdaq has announced that they are open to becoming a cryptocurrency exchange. CEO Adena Friedman has stated that as soon as the market calms down and matures a bit, they wouldn’t see any problems with offering cryptocurrencies. This announcement combined with the fact that 20% of financial institutions are looking to invest in cryptocurrencies is huge news and has the potential to take the market to the next level.
Notorious investor Tim Draper claims that Bitcoin is bigger than the internet and that it will reach $250,000 by 2022. Draper, who was an early investor in many of the tech world’s biggest hits such as Skype, Hotmail, and Tesla, says he has more confidence in his cryptocurrency investments than his traditional investments. According to Draper, Bitcoin is bigger than the internet both in terms of investment opportunities but also in terms of future developments.
Apple seems to be struggling as investors are scrambling to predict the results of their first quarterly report that’s planned to be published next week. Apparently, the iPhone X has been a major flop and it represents a smaller part of the company’s revenue than most iPhones before it. Right now the stock is struggling, and we hope we get good news next week and that the Apple stock will bounce back.
Remember to stay up to date with the latest news from the finance world right here on BullMarketz. Make sure to visit us daily to not miss a beat and don’t forget to check out our cryptocurrency news and our weekly segment called Let’s Talk Cryptocurrencies for more information about the world’s digital currencies. Looking for a great CFD broker? Try a the Plus500 Demo Account for free or read our eToro Review.
Find the best trading platform. You capital is at risk when trading. Be careful.