Snap Stock Surges 12%: Here’s Why You Shouldn’t Trust This Rally

Snap. Inc shares are soaring after analysts at BTIG have turned bullish on the outlook for Snapchat. Up more than 12% on the day, there were a couple of notes from BTIG analyst Richard Greenfield that got volumes surging in the fledgling tech company. In my view, the logic of his reasoning could be sound in the near term, but his $ 15 price target looks a stretch, and he could potentially be misunderstanding what is really going on with SNAP. BTIG Upgrade Snap Inc. Price Forecast to Bullish from Neutral Here are some soundbites from his opinion and why they

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Bitcoin Price Crawls Past $3,800 – But You Shouldn’t Trust This False Recovery

The bitcoin price started Monday with a small recovery to compensate for Sunday’s massive losses, but crypto investors shouldn’t get their hopes up. Bitcoin (BTC/USD) established its intraday high at $ 3,861, up around 1 percent for the 24-hour period. On Sunday, the pair dropped approximately 10 percent in just 9 hours – a dump, precisely. It started consolidating upwards after finding a new low at $ 3,721. At the same time, the bitcoin market reported lower intraday volume and volatility, indicating that the bearish action was still far from over. Bitcoin Price Faces Stiff Resistance above $ 4,200 In late November 2018,

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43% of ‘Clueless’ Millennials Trust Crypto Exchanges Over Stock Market: Survey

Almost half of millennial bitcoin traders in the US trust crypto exchanges more than the traditional stock market, according to a survey by cryptocurrency trading platform eToro. A nationwide survey of 1,000 online traders indicates that 43% of millennials trust crypto exchanges more than the US stock exchanges. In contrast, a whopping 77% of Generation X traders who participated in the survey trust stock exchanges more. Crypto’s Generational Divide Guy Hirsch, the managing director of eToro US, says the research spotlights the schism between the younger generation’s embrace of crypto versus the skepticism of their older cohorts. “We’re seeing the beginning of

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Crypto Expert Warns Not to Trust the Bitcoin Rally

The bitcoin price has not bottomed yet, but it’s close — and the sooner it tanks, the better. That’s the assertion of Alex Sunnarborg, a founding partner of New York crypto hedge fund Tetras Capital. “Calling is very difficult,” Sunnarborg told Forbes. “That’s part of the reason I’m really thankful that we’re in the position we are right now. “We can hedge ourselves, remain more neutral, and not have to call that exact price or timing bottom. I’m not confident right now. Our portfolio is relatively neutral. We have cash and short positions.” Sunnarborg Prefers Scorched-Earth Approach Sunnarborg

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Bear Market? Grayscale Bitcoin Trust Averaged $2 Million Invested Per Week in Q4 2018

Grayscale, the creator of GBTC, had an average of $ 2 million invested every week during the 4th quarter of 2018. About 66% of all investments came from institutions, while 88% of all Grayscale digital investments were in Bitcoin. Just 12% of investments were directed at other digital assets, leading Grayscale to declare the “return of the Bitcoin Maximalist” in their quarterly report. Investments across the board were down in 2018 as the bear market took over. Yet, Grayscale had its best year so far, with over $ 359 million in investments. The Bitcoin Investment Trust’s GBTC product has been running for

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