‘Foolish’ to deny Bitcoin price can go under $10K — Analysis

Bitcoin (BTC) preserved $20,000 for another day on June 23 with calls for another 20% drop still surfacing. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin under $10,000 not impossible Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging just above the $20,000 mark over the 24 hours to the time of writing. As ever, the behavior reflected moves in United States equities markets, which stayed flat on the day. Remarks by Federal Reserve chair Jerome Powell had provided only brief volatility. Cointelegraph noted that Powell’s Congress testimony provided no…

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Elon Musk Looks Foolish as Tesla Cuts Salaries After Dumb Coronavirus Tweet

A month ago, Elon Musk tweeted that the panic over the novel coronavirus is dumb. Now, Tesla is implementing cost-cutting measures. Tesla’s shares have also nosedived since Musk’s infamous tweet. In March, Tesla chief executive Elon Musk downplayed the coronavirus threat and tweeted that the panic over the virus is “dumb.” A month later, the electric vehicle company is scrambling to manage the impact of the pandemic. Your employees probably don’t share your view. | Source: Twitter Tesla is now forced to place many of its 50,000-strong labor force on…

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Spain Bans Short-Selling, Trump Would Be Foolish to Follow Suit

Spain has banned short-selling for a month. IBEX 35 had fallen by close to 40% in under 30 days. Research proves that banning shorting does not prevent stock market slides. President Donald Trump would be severely mistaken if he were to follow Spain’s example. Short sellers in Spain will have to wait a month before they can resume shorting. Spain’s securities regulator, Comisión Nacional del Mercado de Valores (CNMV), has banned the practice. This move is to stem the “extreme volatility” following the coronavirus pandemic. Critics of short-selling argue that…

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Vanguard’s $1.3 Trillion Blockchain Makes Bundesbank Look Foolish

By CCN: Vanguard, the world’s largest provider of mutual funds, is using blockchain to power their enterprise. The investing giant, which popularized mutual funds and exchange-traded funds (ETFs) for the common investor, has been using distributed ledger technology to manage $1.3 trillion worth of index funds, Forbes reports. Vanguard’s Blockchain Manages More Than $1 Trillion in Assets Since February, Vanguard has used blockchain to manage financial data for one-quarter of its assets, valued at $1.3 trillion. More than just a one-off trial, the service is operating live for millions of…

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