John Bollinger, the renowned trading expert and creator of the Bollinger Bands, made a bold Bitcoin price prediction more than two months ago. He forecasted that Bitcoin’s price would continue to rise when it was priced at $60,940. However, fast forward to the present day, and the price of BTC sits at $59,480. This raises
The U.S. dollar experienced a slight increase in value, ending a five-week losing streak as investors awaited the release of important inflation data. The Dollar Index, which compares the dollar against a variety of other currencies, rose by 0.1% to 101.314. This positive movement was a result of the dollar reaching its highest point since
Recent reports from the Bureau of Economic Analysis indicate that inflation is showing signs of easing, with the personal consumption expenditures index for July coming in at 2.5% over the same point last year. Core PCE, which factors out food and energy, was up 2.6% year over year, with prices rising 0.2% from June in
Bitcoin’s price experienced a slight decline on Thursday, as investors expressed caution leading up to an upcoming U.S. inflation reading that could impact future decisions regarding interest rate cuts. Despite this short-term dip, the world’s largest cryptocurrency has faced significant challenges throughout the month of August, with a notable drop of nearly 9%. Factors Contributing
A recent lawsuit has been filed by the American Sustainable Business Council against Texas Comptroller Glenn Hegar and Attorney General Ken Paxton. The lawsuit challenges the constitutionality of a 2021 Texas law that penalizes financial firms for “boycotting” the fossil fuel industry. The plaintiffs argue that the law infringes on their free speech and association
The municipal bond market remained relatively stable despite the rise in U.S. Treasury yields and mixed equities performance. According to LSEG Lipper, municipal bond mutual funds experienced inflows for the ninth consecutive week, with investors adding $1.047 billion, following the previous week’s $512.9 million of inflows. High-yield municipal bonds continued to show strength, with inflows
The recent special session of the Colorado Legislature concluded with the passing of House Bill 1001, aimed at addressing concerns related to property tax cut initiatives on the upcoming ballot. The bill reflects an agreement reached with backers of Initiative 50 and 108, who agreed to withdraw the measures in exchange for certain provisions being
The global footwear industry is experiencing a seismic shift, with young consumers increasingly turning away from traditional Nike offerings in favor of brands like New Balance and Adidas Sambas. According to Stifel Financial, this trend could have significant implications for Nike, once the undisputed leader in the athletic shoe market. Analyst Jim Duffy acknowledges that
Best Buy recently announced that it has raised its fiscal-year profit guidance after exceeding earnings and revenue expectations for the most recent quarter. The retailer now anticipates full-year adjusted earnings per share in the range of $6.10 to $6.35, an increase from the previous range of $5.75 to $6.20. This adjustment reflects the company’s optimistic
The foreign exchange market is highly volatile, with exchange rates constantly shifting based on various economic indicators and geopolitical events. In recent news, the U.S. dollar has experienced a slight uptick, while the euro has retreated. This article examines the impact of key economic readings on these currency movements. The Dollar Index, which tracks the