Bitcoin has seen some ups and downs. Over 24 hours, it had risen 1% as of 10:00 PM EST (Eastern Standard Time) on January 10, 2018, to $14,568. Major cryptocurrencies Ripple, Cardano, and NEM had fallen 7.4%, 2.3%, and 0.48%, respectively. Ethereum was almost flat, falling a marginal 0.2% to $1,321, while Bitcoin Cash, Litecoin, and IOTA had risen 16.3%, 0.58%, and 7.3%, respectively.
Bitcoin (ARKW) volumes have been volatile, like its price. However, there has a clear upward trend in its price, especially during the last quarter of 2017. Bitcoin’s market capitalization is $245 billion.
Biggest gainers and losers
As of 10:00 PM on January 10, VIBE had been the biggest gainer in 24 hours, rising a whopping 516%. VeChain, EOS, and Po.et had risen 40.4%, 21%, and 20%, respectively. The biggest losers were Dentacoin, WAX, Storm, and Medibloc, which had fallen 27.2%, 21.6%, 21.5%, and 19%, respectively.
Warren Buffett’s take
Berkshire Hathaway CEO Warren Buffett’s recent comments to CNBC on cryptocurrencies is gripping investors. He stated that “in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. When it happens or how or anything else, I don’t know.” Known as the “Oracle of Omaha,” Buffett is highly regarded by investors for his views.
JPMorgan Chase CEO Jamie Dimon has also shared some negative views on Bitcoin in the last year. Whereas he recently told Fox Business that he regrets calling bitcoin a “fraud,” he is still not interested in cryptocurrencies.
United Continental Holdings, which is a publicly traded airline holding company, was the S&P 500's top gainer on Wednesday.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.